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Tuesday, November 29, 2022
The Australian sharemarket looks set to start the final session of the year weaker, despite US stocks moving up on the back of stimulus and vaccine optimism . The SPI futures index, down 0.25 per cent, or 16.5 points, pointed to a soft start as local investors look to close off a turbulent 2020, which has seen the benchmark S&P/ASX 200 index re...
Hyundai Motor Group just bought itself a new robotic pet. The South Korean automaker announced plans Friday to take a controlling stake in Boston Dynamics, the cutting-edge tech firm known for its unsettlingly advanced dog-like robot. Hyundai said it will buy about 80 percent of Boston Dynamics from Japanese investment giant SoftBank Group in a dea...
Shares of Stitch Fix surged on Tuesday after the personal styling service posted a surprise, pandemic-fueled quarterly profit while projecting a financial growth spurt. The San Francisco-based firm’s stock price surged as much as 53 percent to an all-time intraday high of $54.94 on the heels of its better-than-expected earnings report for the Augus...
Airbnb plans to make its IPO registration public next week, putting it on course for a New York stock market debut in December even as the COVID-19 pandemic intensifies, two people familiar with the matter said Thursday. The home rental company’s planned debut on the Nasdaq is set to be one of the largest stock market listings of 2020, amid a pande...
Airbnb will prohibit one-night rentals over Halloween weekend as part of its ongoing effort to crack down on party houses. The action, announced Friday, comes nearly a year after a deadly shooting at an Airbnb in Orinda, California. Five people were killed in the shooting, which happened during an unauthorized Halloween party. San Francisco-based A...
The wild ride that is Kodak’s stock market performance appears far from over. The company’s stock shot up by 65 percent on Tuesday after news broke that New York-based hedge fund D.E. Shaw had built up a 5.2 percent stake in the moribund camera technology firm. Word of D.E. Shaw’s stake, disclosed in a regulatory filing, sent Kodak’s stock as high ...
Amazon said it plans to house more than 2,000 employees at Manhattan’s historic Lord & Taylor building under a nationwide expansion of its corporate offices. The Seattle-based e-tailing giant said Tuesday it will hire the workers to fill the landmark tower on Fifth Avenue over the next few years as it grows its Big Apple “tech hub” — a plan tha...
The group's insurance profit was down by 39.5 per cent to $741 million, impacted by higher reinsurance costs and greater claims payouts after the summer bushfires and hail storms across NSW, Victoria and Canberra. IAG reported it paid $904 million in natural perils claims, exceeding its revised guidance of $850 million and original allowance of $64...
As part of the “COVID recovery plan”, NSW Treasurer Dominic Perrottet this week announced tax concessions to big property developers and super funds to start building so-called build-to-rent properties. The sector is dominated by individual mums and dads because they can take advantage of tax concessions on stamp duty, land tax and negative gearing...
Rich Americans have drastically slashed their personal spending during the coronavirus crisis — and poor workers have suffered as a result, researchers say. The top 25 percent of income earners are responsible for more than half of the nation’s drastic plunge in consumer spending since the start of the pandemic, according to a new study from Opport...
Impulse purchases — gum, mints and snack bars tossed into a shopping basket as one snakes through the supermarket checkout line — are falling as more people get groceries delivered or pick them up curbside. US sales of mints are down 30 percent year-on-year at stores tracked by market researcher Nielsen in the 11 weeks ending on May 16, while sale...
Global Asset Management? Say what? Global asset management is the path that a client’s portfolio will be taken by a financial services company, whether it is an investment firm or an asset manager. Financial institutions usually provide investment services like investing in Korea aside from a many different traditional and......