When Covid-19 struck the world economy investors initially punished Afterpay, a “buy now, pay later” fintech claiming to change how people shop. But six months on, the Melbourne-based company is confounding critics by capitalising on surging ecommerce, rapid growth in the US and a shift away from credit cards. Afterpay doubled its customer numbers to
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George Russell in Hong Kong The Australian state of Victoria unveiled on Sunday what it hoped was a gradual return to normality after months of severe movement restrictions and economic malaise due to a second wave of coronavirus. The country’s second-most populous state of 6.4m reported 41 new cases on Monday after 63 new cases
Participating in an investor conference call can provide you with a sense of comfort in your investment decision. Alternatively, it may encourage you to walk away and drop the stock from your portfolio. There are many benefits to having a one-on-one conversation with those at the head of the corporations you invest in. For example,
It was perfect ju-jitsu. After weeks of watching US president Donald Trump pressure Chinese tech company ByteDance to sell its social media app TikTok to Microsoft, Beijing struck back, using one of Mr Trump’s own weapons of choice — export controls. Chinese authorities expanded the Middle Kingdom’s list of controlled exports to include algorithms, which
Shoppers walking into a Lululemon store Scott Mlyn | CNBC How do investors pick stocks poised to outperform in the current environment? Stocks are tumbling in a tech-led selloff after reaching record highs over the last few weeks. However, even after the pullback, the S&P 500 has still surged almost 19% on a one-year basis.
Cristina Celestino on Caffè Concerto Cucchi, Milan“I love the exaggerated size of the palm tree and also the surreal effect of the tropical tree in a bourgeois, old-style Milan room, such as the tearoom of the Pasticceria Cucchi. I chose it because it reminds me of a desert oasis.” Sogliano Cavour holiday home, Lecce Ludovica+Roberto Palomba on Sogliano Cavour holiday home, Lecce“For this
When it comes to unemployment, different parts of the U.S. are affected in distinct ways by the current economic circumstances. While the national unemployment rate provides a good indicator of how the country is doing as a whole, it can diverge considerably from what you might be facing in your home state. That’s where the
The euro’s rapid rise in recent months has set alarm bells ringing at the European Central Bank, with its policymakers worrying that the currency’s strength is holding back the bloc’s economy and dragging down prices. After ECB officials voiced those concerns last week, the euro retreated after briefly touching a two-year high of $1.20. “The
You cannot sustain a crisis mode forever, Julie Sweet observes, on one of the video calls that have become her default communications tool since Covid-19 hit. The upheavals wrought by the pandemic have inevitably defined the year since the former head of Accenture’s North American operations became the 500,000-person global consultancy’s first female chief executive.
If you were eligible for unemployment compensation as of Aug. 1, 2020, with a weekly benefit of at least $100, you may begin receiving an extra $300 per week soon if you are not receiving it already. The $300 stipend was authorized in an Aug.8, 2020, Presidential Memorandum issued by President Trump. It is officially
Berkshire Hathaway continues to aggressively reduce its stake in Wells Fargo, the troubled California bank that had long been a favourite of the conglomerate’s chairman, Warren Buffett, who first started buying the shares in 1989. Berkshire has sold more than 100m shares in Wells, worth almost $2.5bn, since the end of June, according to a
Think of Tod’s, and one’s mind immediately conjures up the brand’s signature Gommino: a caressingly soft £340 leather loafer with a penny bar and pebbled outsole. Recognisable but discreet, over the decades it has garnered fans from Diana, Princess of Wales, to Eddie Redmayne. It is also the foundation on which Diego Della Valle, Tod’s chairman
The West Texas Intermediate (WTI) crude oil futures contract zoomed higher in April after a historic decline into negative numbers, driven by idiosyncrasies between the futures contract and physical delivery requirements. It topped out in the low $40s in August and fell to a six-week low this week, with positive seasonality dropping off the calendar
Champagne sales have had a bit of a wobble this year. But that hasn’t stopped a number of houses from releasing cuvées that are really exciting – champagnes that find fresh ways to talk about winemaking and terroir, or venture where others have feared to tread. Bollinger’s PN (£80 from thefinestbubble.com) is its first new
For weeks now, Germany has debated the significance of the varied and seemingly incompatible factions that have descended on the capital to rally against the country’s coronavirus measures. From anti-vaxxers to biologists, Christian fundamentalists to conspiracy theorists, neo-Nazis to Hare Krishnas — could the forces gathered under the banner of coronavirus scepticism constitute a viable
As the number of COVID-19 cases continues to increase throughout the U.S., Europe, and Russia, new concerns are emerging about how the virus is likely to impact countries and their economies in the coming months. Despite those concerns, continued growth remains a major trend for advisory firms and could even increase by the end of
Tap. Tap. Rattle-rattle. Clang. “This,” my guest blurts out. “This is a problem.” Reed Hastings is the billionaire founder of Netflix, the crusher of Blockbuster, and the one who turned Hollywood upside down with streaming tech. But, right now, his main concern is pizza. Slightly out of shot, Hastings is on his knees with a
One thing to start. Lionel Messi announced on Friday evening he will remain at FC Barcelona next season, having previously expressed a desire to leave the world’s highest earning football club. The Argentine said he wants to avoid a legal battle over a €700m buyout clause, but lambasted Barcelona’s management including under-fire president Josep Maria
Can Student Loans Be Used to Pay Rent? Student loans can be used to pay for room and board, which includes both on- and off-campus housing. So the short answer is yes, students can use money from their loans to pay monthly rent for apartments and other forms of residence away from campus. However, the
Tesla has been left out of the latest additions to the S&P 500, dashing the carmaker’s hopes of joining the blue-chip index despite meeting the most onerous bar to entry: turning a consistent profit. S&P Dow Jones Indices, which manages the benchmark, snubbed the California electric vehicle maker in the first round of additions since
It makes perfect sense: Soho House on Mykonos. Nick Jones’s now multi-national members’ club-hotel portfolio knows how to do seaside (see the Little Beach Houses in Malibu and Spain). Last summer it acquired the Cycladic revelry capital’s coolest beach club, Scorpios, described by its founders as “a modern interpretation of the ancient Greek agora: an inclusive
An Overview of ERX Direxion launched the bull and bear lines of the Daily Energy Shares 2X ETF in November 2008. The bull, Direxion Daily Energy Bull 2X (ERX), aims to reproduce 200% of the daily returns of the S&P Energy Select Sector Index. In other words, for every 1% gain in the underlying index,
About a third of an H2O Asset Management fund was invested in illiquid bonds when the French regulator forced its suspension, more than three times higher than a regulatory limit on hard-to-sell assets. In a rare intervention, France’s financial regulator last week asked H2O to suspend a series of its funds because of their exposure
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Nailing the Investment Banking Interview Many business students want to land an entry-level job in investment banking, but they freeze during the interview when asked some of the more common technical questions. Getting the first interview is often a difficult task all on its own, so you need to be ready to answer some of
JAB Holdings is preparing to appoint a new chief executive to its €19bn coffee business, as freshly listed JDE Peet’s grapples with shifts in consumer drinking patterns triggered by the pandemic. Fabien Simon, currently a partner and chief financial officer at JAB, will take over as chief executive after pushing ahead with the company’s IPO
European and Asian shares tumbled, following a rout on Wall Street overnight led by heavy selling of Apple and other technology stocks. In Europe, the continent-wide Stoxx 600 fell 0.2 per cent in early dealings on Friday, with Frankfurt’s Xetra Dax slipping by the same amount and London’s FTSE 100 dropping 0.3 per cent. In
Homeownership remains a vital part of the American dream. Maybe that’s why there are a host of incentives designed to make it easier for first-time homebuyers to afford a place. These incentives include federal and state grants, tax credits, and other options. Even if you’ve owned a home in the past, you may qualify for
SpaceX deploys 60 Starlink satellites in orbit. SpaceX SpaceX gave an update on early tests of its Starlink satellite internet network, which showed speeds capable of playing online video games and streaming movies. Starlink is the ambitious plan by Elon Musk’s company to build an interconnected network of about 12,000 small satellites in low Earth orbit.
An initial public offering from Big Hit Entertainment — valuing the group behind K-pop superstars BTS at almost $4bn — has sparked criticism from analysts who say the price is too high given mounting risks facing South Korea’s entertainment industry. The Seoul-based music agency, which formed the seven-member boy band a decade ago, wants to