User blogs
A 7-Eleven near the beaches of Bonita Springs has a claim to fame —
selling a winning Powerball ticket worth $396.9 million.Get more news
about 彩票API,you can vist loto98.com
“Everybody’s very excited,” franchise owner Nour Obeissy said. “(Regulars) are happy for the store and the Bonita Springs area.”
One lucky person bought the winning ticket at 7:15 p.m. Wednesday night, just a few hours before the drawing, at the 7-Eleven store on Bonita Beach Road. The store is one of the last places to stock up on food and drink before hitting the beaches, drawing in both tourists and regulars.The lucky numbers were 9-12-15-31-60 and the Powerball was 2, according to a Florida Lottery news release.
The winner, who has yet to come forward, has 180 days to claim the prize and has the option to take a lump sum cash payment of $274 million instead of yearly payments.
In addition to the Florida winner, a $1 million ticket was sold in Ohio and another in Virginia.
Thursday morning was busy at the Bonita Springs convenience store. One customer waved around a Powerball ticket with a smile, claiming he "won the jackpot," before cashing in his ticket for a $5 prize. Others who stopped by gave a curious look at the posters that declare the location as the seller of the jackpot ticket.
Bonita Springs resident Paul Watson walked out of the convenience store Thursday morning with a coffee and some snacks. He said he lives in a nearby house.
“We come in here every day,” he said. “We were in here at 6:30 p.m. last night getting snacks. I could’ve had that ticket.”
“Everybody’s very excited,” franchise owner Nour Obeissy said. “(Regulars) are happy for the store and the Bonita Springs area.”
One lucky person bought the winning ticket at 7:15 p.m. Wednesday night, just a few hours before the drawing, at the 7-Eleven store on Bonita Beach Road. The store is one of the last places to stock up on food and drink before hitting the beaches, drawing in both tourists and regulars.The lucky numbers were 9-12-15-31-60 and the Powerball was 2, according to a Florida Lottery news release.
The winner, who has yet to come forward, has 180 days to claim the prize and has the option to take a lump sum cash payment of $274 million instead of yearly payments.
In addition to the Florida winner, a $1 million ticket was sold in Ohio and another in Virginia.
Thursday morning was busy at the Bonita Springs convenience store. One customer waved around a Powerball ticket with a smile, claiming he "won the jackpot," before cashing in his ticket for a $5 prize. Others who stopped by gave a curious look at the posters that declare the location as the seller of the jackpot ticket.
Bonita Springs resident Paul Watson walked out of the convenience store Thursday morning with a coffee and some snacks. He said he lives in a nearby house.
“We come in here every day,” he said. “We were in here at 6:30 p.m. last night getting snacks. I could’ve had that ticket.”
Luckin Coffee Inc. today announced that the Grand Court of the Cayman
Islands has appointed Alexander Lawson of Alvarez & Marsal Cayman
Islands Limited and Wing Sze Tiffany Wong of Alvarez & Marsal Asia
Limited to act as “light-touch” Joint Provisional Liquidators of the
Company (the “JPLs”). The appointment of the JPLs was made pursuant to
an application to appoint provisional liquidators by Luckin Coffee in
response to a winding up petition filed by a creditor of the Company.
Alvarez & Marsal is a leading consulting firm that specializes in
handling complex business issues and maximizing stakeholder value.To get
more news about luckin coffee delisted, you can visit shine news official website.
The Company believes the appointment of the JPLs will provide a stable platform to allow the Company and its advisors, including Houlihan Lokey (China) Limited (financial advisors to the Company), to facilitate the negotiation and restructuring of the Company’s financial obligations. The Company will continue to operate its business under the day-to-day control of its Board of Directors with the supervision of the JPLs. The Company is and will continue to be committed to offering products with high quality, high affordability and high convenience to its customers.
As of June 30, 2020, the Company’s estimated preliminary unaudited cash and cash equivalents (excluding restricted cash and illiquid short-term investments) amounted to approximately USD780 million, with the majority of the cash located within the People’s Republic of China. This amount is based on the information currently available to the Company and has not been audited or reviewed by the Company’s auditor. Accordingly, the Company’s actual cash and cash equivalents as of June 30, 2020 may differ from the preliminary balance presented here.
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “potential,” “continue,” “ongoing,” “targets,” “guidance” and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s growth strategies; its future business development, results of operations and financial condition; its ability to understand buyer needs and provide products and services to attract and retain buyers; its ability to maintain and enhance the recognition and reputation of its brand; its ability to rely on merchants and third-party logistics service providers to provide delivery services to buyers; its ability to maintain and improve quality control policies and measures; its ability to establish and maintain relationships with merchants; trends and competition in China’s e-commerce market; changes in its revenues and certain cost or expense items; the expected growth of China’s e-commerce market; PRC governmental policies and regulations relating to the Company’s industry, and general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.
The Company believes the appointment of the JPLs will provide a stable platform to allow the Company and its advisors, including Houlihan Lokey (China) Limited (financial advisors to the Company), to facilitate the negotiation and restructuring of the Company’s financial obligations. The Company will continue to operate its business under the day-to-day control of its Board of Directors with the supervision of the JPLs. The Company is and will continue to be committed to offering products with high quality, high affordability and high convenience to its customers.
As of June 30, 2020, the Company’s estimated preliminary unaudited cash and cash equivalents (excluding restricted cash and illiquid short-term investments) amounted to approximately USD780 million, with the majority of the cash located within the People’s Republic of China. This amount is based on the information currently available to the Company and has not been audited or reviewed by the Company’s auditor. Accordingly, the Company’s actual cash and cash equivalents as of June 30, 2020 may differ from the preliminary balance presented here.
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “potential,” “continue,” “ongoing,” “targets,” “guidance” and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s growth strategies; its future business development, results of operations and financial condition; its ability to understand buyer needs and provide products and services to attract and retain buyers; its ability to maintain and enhance the recognition and reputation of its brand; its ability to rely on merchants and third-party logistics service providers to provide delivery services to buyers; its ability to maintain and improve quality control policies and measures; its ability to establish and maintain relationships with merchants; trends and competition in China’s e-commerce market; changes in its revenues and certain cost or expense items; the expected growth of China’s e-commerce market; PRC governmental policies and regulations relating to the Company’s industry, and general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.
Investors in China's Luckin Coffee (OTC:LKNC.Y) have had to deal with a
lot of surprises this year. Revelations of fraudulent accounting
practices led to a long suspension in trading of the shares on the
Nasdaq exchange. Top executives were ousted from the coffee store
chain's C-suite. And finally, Luckin shareholders got what many had
considered to be the final straw: notice that the stock would get
delisted from the Nasdaq.To get more news about luckin coffee, you can visit shine news official website.
After all those things happened, many expected that the stock would simply disappear on what they saw as an inevitable path toward zero. Yet after more than a week of trading on the over-the-counter market, Luckin has defied those bearish calls. Instead, the stock has more than doubled. Here are some of the reasons why.
1. Trading hasn't dried up
For many stocks, getting delisted from a major exchange means accepting an alternative for trading that has far less liquidity. That makes it difficult for institutional traders to get good executions when they want to buy and sell stocks, and it typically forces individual investors to deal with wide bid-ask spreads that are costly for frequent traders.
That hasn't happened with Luckin. Even over the counter, trading volume has remained above 10 million shares per day. For those looking to trade shares, bid-ask spreads remain at a reasonable $0.01. For those looking to speculate on the company's future, the only thing that's changed is the ticker symbol.
2. Investors expect that Luckin will try to go private
Chinese stocks have struggled for a while, and many investors believe that their poor performance has left them undervalued and underappreciated. For companies that are frustrated about what they see as unwarranted low share prices, the natural choice is to make an offer for a buyout. Even paying a sizable premium, going private can give insider buyers a bargain as well as all the advantages of not being publicly traded. The fact that U.S. lawmakers have started to scrutinize Chinese companies with stock listings in the U.S. is also an incentive to go private.
Earlier this month, Chinese internet company SINA (NASDAQ:SINA) announced that it would look to go private. The buyout offer came from CEO Charles Chao through a controlled entity, with the $2.7 billion price representing a 12% premium to where the stock was previously trading.
Critics have noted that several Chinese companies have made similarly cheap buyout offers to go private. Then, they've turned around and quickly done IPOs within China or Hong Kong at much higher valuations. That's bad news for long-term investors in those stocks. However, for those looking for a quick profit, paying $1.50 per share for Luckin stock when it got delisted in the hopes of getting somewhat more in a going-private deal could turn out to be a profitable short-term trade.
3. Shareholders hope new management could help Luckin recover
Lastly, those watching Luckin have seen a huge shakeup across the company's entire management. The company fired CEO Jenny Qian and COO Jian Liu in May. Just this past weekend, Luckin founder and board chair Charles Lu left the board of directors along with three other members. At first glance, it might seem like Luckin has hit the reset button and can now make a go at restoring its business. That confusion has some shareholders optimistic about the coffee chain's promise, and they're willing to gamble that the stock could regain at least part of the 95% it lost.
Unfortunately, there's still a lot of controversy involved. Even though Lu left the Luckin board, he played a key role in naming the directors who replaced him and his colleagues. If Lu is in control, then it could hamper a recovery rather than facilitating it. Nevertheless, there's a lot of uncertainty and a lack of transparency with what's going on in Luckin's boardroom.
After all those things happened, many expected that the stock would simply disappear on what they saw as an inevitable path toward zero. Yet after more than a week of trading on the over-the-counter market, Luckin has defied those bearish calls. Instead, the stock has more than doubled. Here are some of the reasons why.
1. Trading hasn't dried up
For many stocks, getting delisted from a major exchange means accepting an alternative for trading that has far less liquidity. That makes it difficult for institutional traders to get good executions when they want to buy and sell stocks, and it typically forces individual investors to deal with wide bid-ask spreads that are costly for frequent traders.
That hasn't happened with Luckin. Even over the counter, trading volume has remained above 10 million shares per day. For those looking to trade shares, bid-ask spreads remain at a reasonable $0.01. For those looking to speculate on the company's future, the only thing that's changed is the ticker symbol.
2. Investors expect that Luckin will try to go private
Chinese stocks have struggled for a while, and many investors believe that their poor performance has left them undervalued and underappreciated. For companies that are frustrated about what they see as unwarranted low share prices, the natural choice is to make an offer for a buyout. Even paying a sizable premium, going private can give insider buyers a bargain as well as all the advantages of not being publicly traded. The fact that U.S. lawmakers have started to scrutinize Chinese companies with stock listings in the U.S. is also an incentive to go private.
Earlier this month, Chinese internet company SINA (NASDAQ:SINA) announced that it would look to go private. The buyout offer came from CEO Charles Chao through a controlled entity, with the $2.7 billion price representing a 12% premium to where the stock was previously trading.
Critics have noted that several Chinese companies have made similarly cheap buyout offers to go private. Then, they've turned around and quickly done IPOs within China or Hong Kong at much higher valuations. That's bad news for long-term investors in those stocks. However, for those looking for a quick profit, paying $1.50 per share for Luckin stock when it got delisted in the hopes of getting somewhat more in a going-private deal could turn out to be a profitable short-term trade.
3. Shareholders hope new management could help Luckin recover
Lastly, those watching Luckin have seen a huge shakeup across the company's entire management. The company fired CEO Jenny Qian and COO Jian Liu in May. Just this past weekend, Luckin founder and board chair Charles Lu left the board of directors along with three other members. At first glance, it might seem like Luckin has hit the reset button and can now make a go at restoring its business. That confusion has some shareholders optimistic about the coffee chain's promise, and they're willing to gamble that the stock could regain at least part of the 95% it lost.
Unfortunately, there's still a lot of controversy involved. Even though Lu left the Luckin board, he played a key role in naming the directors who replaced him and his colleagues. If Lu is in control, then it could hamper a recovery rather than facilitating it. Nevertheless, there's a lot of uncertainty and a lack of transparency with what's going on in Luckin's boardroom.
Shares in China Finance Online Co. skyrocketed a whopping 198%
Wednesday morning on its partnership with Dow Jones.To get more finance news China, you can visit shine news official website.
Under the deal, the business data division on News Corp. (Nasdaq: NWSA) will provide the Chinese financial services platform with "access to a sub-set of its Chinese language newswire service, which will include market commentary and spot news in Chinese," according to a JRJC press release.
Further, JRJC said, the collaboration will bring together the global economic data and financial expertise from Dow and the domestic data and user base of China Finance Online to deliver market information to Chinese investors and businesses.
In response to the news, JRJC stock tripled in value to $21.78 per American depositary share in early trading.
"We believe that this strategic partnership is highly complementary and will create tremendous knowledge and data synergies as well as premium content to benefit over 1000 of our institutional clients in China," the chairman and chief executive of China Finance Online, Zhiwei Zhao, said in the statement.
China Finance Online operates an analytical financial and economic database in China. Over recent years, the company boasts of adding data mining, artificial intelligence, cloud computing, natural language processing, and machine learning to its smart network of fintech solutions. Its clients are stock exchanges, banks, insurance companies, brokerage firms and asset management companies.
Zhao also said, "Sophisticated data analytics and timely news have always been the vital building blocks for our data mining and smart research products that are dedicated to empowering wealth management services in China."
Christopher Ellis, Head of Partnerships & Licensing, Asia Pacific, at Dow Jones, said, "I am confident that through our partnership, we will be able to further elevate the quality of financial news and information that Chinese customers will now be able to access and help to drive business decision making and innovation in China."
Wednesday marked the first day in a year that JRJC stock flew over $10 per share. First listed in New York in 2004, the company has enjoyed a time when its shares traded near $100 and even $300 per share. Since 2015, however, its stock has been sliding downward until reaching $7-$8 per share in 2019 and trading near that level and lower. We'll see if its partnership with Dow Jones gives it a long-term tailwind.
Under the deal, the business data division on News Corp. (Nasdaq: NWSA) will provide the Chinese financial services platform with "access to a sub-set of its Chinese language newswire service, which will include market commentary and spot news in Chinese," according to a JRJC press release.
Further, JRJC said, the collaboration will bring together the global economic data and financial expertise from Dow and the domestic data and user base of China Finance Online to deliver market information to Chinese investors and businesses.
In response to the news, JRJC stock tripled in value to $21.78 per American depositary share in early trading.
"We believe that this strategic partnership is highly complementary and will create tremendous knowledge and data synergies as well as premium content to benefit over 1000 of our institutional clients in China," the chairman and chief executive of China Finance Online, Zhiwei Zhao, said in the statement.
China Finance Online operates an analytical financial and economic database in China. Over recent years, the company boasts of adding data mining, artificial intelligence, cloud computing, natural language processing, and machine learning to its smart network of fintech solutions. Its clients are stock exchanges, banks, insurance companies, brokerage firms and asset management companies.
Zhao also said, "Sophisticated data analytics and timely news have always been the vital building blocks for our data mining and smart research products that are dedicated to empowering wealth management services in China."
Christopher Ellis, Head of Partnerships & Licensing, Asia Pacific, at Dow Jones, said, "I am confident that through our partnership, we will be able to further elevate the quality of financial news and information that Chinese customers will now be able to access and help to drive business decision making and innovation in China."
Wednesday marked the first day in a year that JRJC stock flew over $10 per share. First listed in New York in 2004, the company has enjoyed a time when its shares traded near $100 and even $300 per share. Since 2015, however, its stock has been sliding downward until reaching $7-$8 per share in 2019 and trading near that level and lower. We'll see if its partnership with Dow Jones gives it a long-term tailwind.
Bank of France Governor Francois Villeroy de Galhau said the
countrys economy is picking up faster than expected and that forecasts
from the International Monetary Fund may be too gloomy.To get more news
about WikiFX, you can visit wikifx news official website.
“Things are going at least as well as we forecast at the start of June, and even a bit better,” Villeroy said on French television channel LCI, citing the central banks monthly indicator of business activity.
Villeroy has compared the economic recovery to the shape of a bird wing, with a sharp upturn as confinement measures ended, followed by a steady return to the pre crisis level of output.
The contraction in 2020 may not be as sharp as the 10% decline the Bank of France forecast last month, Villeroy said, noting that the government forecasts -11% and the IMF -12.5%.
How quickly French households spend savings built up during the crisis will be key to further accelerating the recovery in 2021, Villeroy said. To foster confidence, he said the government should avoid changes in tax and aim to keep public debt below 120% of annual economic output.
“If households have more confidence and dip into savings to feed their consumption, the recovery could be quicker and we could get to pre-covid levels of activity at the end of 2021,” Villeroy said.
“Things are going at least as well as we forecast at the start of June, and even a bit better,” Villeroy said on French television channel LCI, citing the central banks monthly indicator of business activity.
Villeroy has compared the economic recovery to the shape of a bird wing, with a sharp upturn as confinement measures ended, followed by a steady return to the pre crisis level of output.
The contraction in 2020 may not be as sharp as the 10% decline the Bank of France forecast last month, Villeroy said, noting that the government forecasts -11% and the IMF -12.5%.
How quickly French households spend savings built up during the crisis will be key to further accelerating the recovery in 2021, Villeroy said. To foster confidence, he said the government should avoid changes in tax and aim to keep public debt below 120% of annual economic output.
“If households have more confidence and dip into savings to feed their consumption, the recovery could be quicker and we could get to pre-covid levels of activity at the end of 2021,” Villeroy said.
Economists are divided on the outlook for Australia‘s recovery: many see
a U-shaped, while a growing number see a W-shaped. Both support the
central bank’s view that interest rates will remain low for a long
time.To get more news about WikiFX, you can visit wikifx news official website.
The Reserve Bank of Australia is set to keep its cash rate and three-year yield target at 0.25% at Tuesday‘s policy meeting. Governor Philip Lowe’s focus will then turn to the governments July 23 economic and fiscal statement that will set out plans for ongoing stimulus.
“The shape of the recovery will be first and foremost determined by consumer confidence,” said Janu Chan, a senior economist at St. George Bank Ltd., who expects it will be U-shaped. “Financial-market participants see a high chance of a W-shaped-recovery due to elevated concerns about a second wave of infections and the end of key stimulus measures.”
An audience poll during Bloomberg‘s ’Inside Track webinar series showed a similar divide. Some 41% of respondents expected the Australian economic recovery to be U-shaped, while 34% saw a W-shaped path.
Australians optimism following the early relaxation of the Covid-19 lockdown and reopening of the economy is being tempered by a renewed outbreak in the southern state of Victoria that has seen restrictions reinstated for isolated areas.
“A whole lot of businesses wouldn‘t be sustained a second time through, a lot of households wouldn’t be sustained a second time through, and the government could not be as generous,” RBA board member Ian Harper said in an interview last month. “If you add on top of that the devastating impact that would have on public confidence, thats the one that really bothers me.”
The central bank scooped up more than A$50 billion ($34.7 billion) of government securities of varying maturities in the weeks after an emergency meeting in March, as it tried to soothe dislocated markets and lower borrowing costs. It hasnt bought anything further since early May as the three-year bond yield remains around its target.
The RBA has been urging the government to maintain stimulus support beyond September, when programs like its wage subsidy to keep workers tied to employers, higher unemployment payments and other support measures are due to expire. The fear is that the economy could be set back badly if some of these programs arent extended.
“If there were no tapering and for whatever reason the government decided just to let it stop, then I think we havent seen the peak in unemployment,” Harper said.
Australias jobless rate advanced to 7.1% in May and the Treasury expects it to reach 8% this quarter.
The Reserve Bank of Australia is set to keep its cash rate and three-year yield target at 0.25% at Tuesday‘s policy meeting. Governor Philip Lowe’s focus will then turn to the governments July 23 economic and fiscal statement that will set out plans for ongoing stimulus.
“The shape of the recovery will be first and foremost determined by consumer confidence,” said Janu Chan, a senior economist at St. George Bank Ltd., who expects it will be U-shaped. “Financial-market participants see a high chance of a W-shaped-recovery due to elevated concerns about a second wave of infections and the end of key stimulus measures.”
An audience poll during Bloomberg‘s ’Inside Track webinar series showed a similar divide. Some 41% of respondents expected the Australian economic recovery to be U-shaped, while 34% saw a W-shaped path.
Australians optimism following the early relaxation of the Covid-19 lockdown and reopening of the economy is being tempered by a renewed outbreak in the southern state of Victoria that has seen restrictions reinstated for isolated areas.
“A whole lot of businesses wouldn‘t be sustained a second time through, a lot of households wouldn’t be sustained a second time through, and the government could not be as generous,” RBA board member Ian Harper said in an interview last month. “If you add on top of that the devastating impact that would have on public confidence, thats the one that really bothers me.”
The central bank scooped up more than A$50 billion ($34.7 billion) of government securities of varying maturities in the weeks after an emergency meeting in March, as it tried to soothe dislocated markets and lower borrowing costs. It hasnt bought anything further since early May as the three-year bond yield remains around its target.
The RBA has been urging the government to maintain stimulus support beyond September, when programs like its wage subsidy to keep workers tied to employers, higher unemployment payments and other support measures are due to expire. The fear is that the economy could be set back badly if some of these programs arent extended.
“If there were no tapering and for whatever reason the government decided just to let it stop, then I think we havent seen the peak in unemployment,” Harper said.
Australias jobless rate advanced to 7.1% in May and the Treasury expects it to reach 8% this quarter.
Anti-fiat hedges like gold may surrender in the third quarter if a second wave of the coronavirus hits the global economy and dampens future inflation prospects. Demand for haven-linked assets like the US Dollar may amplify XAU/USDs losses as traders re-allocate capital from relatively illiquid commodities to more frequently-traded currencies like the Greenback.To get more news about WikiFX, you can visit wikifx news official website.
Rising unemployment numbers and uncertainty embedded in labor statistics could also magnify the appeal of holding haven-linked assets. The prospect of another lockdown in numerous localities around the United States could further dampen price growth and erode the appeal of gold. Fed Chairman Jerome Powell warned that the road to recovery will be arduous and “long”.
Furthermore, financial fragility in the corporate debt sector could also hurt gold prices if the market for leveraged loans and other credit derivatives undermine interbank stability. The dramatic widening of spreads on credit default swaps (CDS) for sub-investment grade corporate debt during the global selloff in equity markets in March saw gold prices crater with risk-oriented assets.
An erosion of the fundamental circumstances – like reinstates or extended lockdown measures – could destabilize highly-leveraged companies and increase the likelihood of widespread default if their already-thin revenue streams are dried up. In this environment, gold prices could suffer while a premium may be put on the anti-risk US Dollar.
Global markets are caught in a tug-of-war between optimism over better-than-expected economic data, and concern over the surge in coronavirus infections.To get more news about WikiFX, you can visit wikifx news official website.
While currencies saw muted moves in early trading on Monday, the Australian dollar underperformed, dropping as much as 0.2%. The nation has seen a rise in infections recently. The big worry, however, is the U.S., where a surge in cases pushed global figures above 11.3 million.
Even though U.S. labor data showed a marked improvement in June, the dollar fell last week, ending the currencys longest-winning streak since January. The Citi Economic Surprise Index for the nation soared to a record, while a similar gauge for major economies is at the highest level since 2017.
It‘s a push and pull between positive and negative numbers that has lasted for weeks, said Stephen Innes, chief global markets strategist at AxiCorp, adding that markets may be headed for a “Let’s Make a Deal” moment, referencing a popular game show in the U.S. that started in the 1960s.
“Behind door number one sits the all-in trade from a vaccine discovery,” said Innes. “Behind door number two lies the relatively optimistic economic outcome, but its door number three, where the prophet of doom sits reminding us the virus risk will lead to a more significant growth hit in the third quarter.”
Economic releases from developed nations through Friday may help investors decide. Germanys industrial production probably bounced back in May, as did Italian retail sales, based on estimates compiled by Bloomberg. PMI data from the U.S. may show a minor improvement.
While currencies saw muted moves in early trading on Monday, the Australian dollar underperformed, dropping as much as 0.2%. The nation has seen a rise in infections recently. The big worry, however, is the U.S., where a surge in cases pushed global figures above 11.3 million.
Even though U.S. labor data showed a marked improvement in June, the dollar fell last week, ending the currencys longest-winning streak since January. The Citi Economic Surprise Index for the nation soared to a record, while a similar gauge for major economies is at the highest level since 2017.
It‘s a push and pull between positive and negative numbers that has lasted for weeks, said Stephen Innes, chief global markets strategist at AxiCorp, adding that markets may be headed for a “Let’s Make a Deal” moment, referencing a popular game show in the U.S. that started in the 1960s.
“Behind door number one sits the all-in trade from a vaccine discovery,” said Innes. “Behind door number two lies the relatively optimistic economic outcome, but its door number three, where the prophet of doom sits reminding us the virus risk will lead to a more significant growth hit in the third quarter.”
Economic releases from developed nations through Friday may help investors decide. Germanys industrial production probably bounced back in May, as did Italian retail sales, based on estimates compiled by Bloomberg. PMI data from the U.S. may show a minor improvement.
The coronavirus pandemic may change many things about the way French
car-parts maker Valeo SA operates, but its sprawling global supply
chains wont be among them.To get more news about WikiFX, you can visit wikifx news official website.
European leaders have talked of bringing manufacturing back to member countries to avoid the type of crises that quickly followed the initial outbreak in China. The shutdown of auto-parts factories there sent Europe‘s vehicle producers scrambling for replacements to feed assembly lines. Europe’s dependence on foreign-made health-care protective gear like masks and gowns also became painfully clear.
Yet for corporate leaders like Valeo Chief Executive Officer Jacques Aschenbroich, shortening logistics routes isnt part of his plan to extricate the maker of 8 million components a day from the deep industry slump that has pushed European car sales to record lows.
“Our final customers and auto-parts clients arent ready to pay more if our supply chains were relocated,” Aschenbroich said Sunday at the Aix-en-Seine economics conference in Paris. “So if neither of them put a value on the risk, there is no chance that supply chains will be relocated.”
Rather than put them under scrutiny, “we should pay homage to these supply chains that have showed extraordinary resilience after withstanding successive shocks like Fukushima, flooding in Thailand and now Covid-19,” Aschenbroich added.
In the wake of the global pandemic, which is causing the steepest recession in almost a century, the European Union has proposed a 750 billion-euro ($843 billion) recovery package that could aim to ensure “strategic autonomy” in key sectors and stronger value chains within the EU.
European Central Bank Executive Board Member Luis de Guindos and Dutch central bank Governor Klaas Knot have independently argued that companies should consider moving parts of their supply chains closer to home even if that meant higher costs.
At the weekend conference in Paris, ECB President Christine Lagarde said the crisis would lead to changes in manufacturing, with an estimated contraction of supply chains of about 35% and increase in industrial robotization of 70% to 75%.
Evidence on the ground suggests a massive shift back to Europe is unlikely in the near-term because of the ever-growing importance of China and the difference in manufacturing costs.“I don‘t see a massive relocation,” Rodolphe Saade, CEO of CMA CGM SA, the world’s third-largest container shipping company, told the conference. While the transporter is seeing greater “intra-regional” volumes within Asia and Europe, he said consumers will “continue to buy televisions and other goods made in China because they are much cheaper to build than in France and elsewhere in Europe.”
To counter Asian dominance, politicians may have to resort to hard-charging policies and subsidies to convince companies to get on board, as was the case with electric-car batteries. France and Germany have pooled efforts to kick-start a European industry.
“Weve managed to build an agreement between governments -- France and Germany -- and companies to face the challenge together,” Patrick Pouyanne, head of Total SA, said Saturday at the conference. “It requires significant subsidies.”
“We‘ve decided that it was worth taking that risk,” he said of the oil giant’s participation in the project. “Why？ Because one lesson for companies like us isnt relocation, but diversification of supply chains. We know about geopolitical risks, and the need to diversify.”
The political effort to bring industry home is particularly intense in France. New Prime Minister Jean Castex spent part of Saturday at a semiconductor company where he hammered home the need for more industries to relocate to safeguard jobs. French President Emmanuel Macron has tied roughly 8 billion euros in aid to the struggling auto industry to increasing domestic output.
“Industry has fled the country because we didnt take care of it,” said Eric Lombard, head of state-controlled financial institution Caisse des Dépôts et Consignations. “Last year, for the first time in 20 years, more factories opened than closed in France. This is the result of proactive measures.”
European leaders have talked of bringing manufacturing back to member countries to avoid the type of crises that quickly followed the initial outbreak in China. The shutdown of auto-parts factories there sent Europe‘s vehicle producers scrambling for replacements to feed assembly lines. Europe’s dependence on foreign-made health-care protective gear like masks and gowns also became painfully clear.
Yet for corporate leaders like Valeo Chief Executive Officer Jacques Aschenbroich, shortening logistics routes isnt part of his plan to extricate the maker of 8 million components a day from the deep industry slump that has pushed European car sales to record lows.
“Our final customers and auto-parts clients arent ready to pay more if our supply chains were relocated,” Aschenbroich said Sunday at the Aix-en-Seine economics conference in Paris. “So if neither of them put a value on the risk, there is no chance that supply chains will be relocated.”
Rather than put them under scrutiny, “we should pay homage to these supply chains that have showed extraordinary resilience after withstanding successive shocks like Fukushima, flooding in Thailand and now Covid-19,” Aschenbroich added.
In the wake of the global pandemic, which is causing the steepest recession in almost a century, the European Union has proposed a 750 billion-euro ($843 billion) recovery package that could aim to ensure “strategic autonomy” in key sectors and stronger value chains within the EU.
European Central Bank Executive Board Member Luis de Guindos and Dutch central bank Governor Klaas Knot have independently argued that companies should consider moving parts of their supply chains closer to home even if that meant higher costs.
At the weekend conference in Paris, ECB President Christine Lagarde said the crisis would lead to changes in manufacturing, with an estimated contraction of supply chains of about 35% and increase in industrial robotization of 70% to 75%.
Evidence on the ground suggests a massive shift back to Europe is unlikely in the near-term because of the ever-growing importance of China and the difference in manufacturing costs.“I don‘t see a massive relocation,” Rodolphe Saade, CEO of CMA CGM SA, the world’s third-largest container shipping company, told the conference. While the transporter is seeing greater “intra-regional” volumes within Asia and Europe, he said consumers will “continue to buy televisions and other goods made in China because they are much cheaper to build than in France and elsewhere in Europe.”
To counter Asian dominance, politicians may have to resort to hard-charging policies and subsidies to convince companies to get on board, as was the case with electric-car batteries. France and Germany have pooled efforts to kick-start a European industry.
“Weve managed to build an agreement between governments -- France and Germany -- and companies to face the challenge together,” Patrick Pouyanne, head of Total SA, said Saturday at the conference. “It requires significant subsidies.”
“We‘ve decided that it was worth taking that risk,” he said of the oil giant’s participation in the project. “Why？ Because one lesson for companies like us isnt relocation, but diversification of supply chains. We know about geopolitical risks, and the need to diversify.”
The political effort to bring industry home is particularly intense in France. New Prime Minister Jean Castex spent part of Saturday at a semiconductor company where he hammered home the need for more industries to relocate to safeguard jobs. French President Emmanuel Macron has tied roughly 8 billion euros in aid to the struggling auto industry to increasing domestic output.
“Industry has fled the country because we didnt take care of it,” said Eric Lombard, head of state-controlled financial institution Caisse des Dépôts et Consignations. “Last year, for the first time in 20 years, more factories opened than closed in France. This is the result of proactive measures.”
With BlizzCon 2019 approaching, the second week of WOW BlizzCon Virtual
Ticket giveaway is current live until Oct. 29. To help you get these
tickets effectively, there are three ways offered to you for claiming a
total of 25 Virtual Tickets. To get more news about Cheap WoW Gold, you can visit lootwowgold news official website.
Three ways to obtain free BlizzCon Virtual Tickets
The new round of BlizzCon Virtual Ticket giveaway will run from Oct. 25 to Oct. 29. Owning the Virtual Ticket is the final way to join in the most epic community celebration if you can't attend. And here are three ways for you to claim the free tickets:
The first way is that you can complete one or more required achievements including Downing the Dark Lady, Severed Ties, Silverpine Forest Quests, Icecrown: The Final Goal, Might of Dragonblight or Veteran of the Wrathgate. Then connect your Battle.net account to your Wowhead account and click on your character to load it in Wowhead's Profiler. After that you should enter the contest via the contest page or on your character's Profiler page. If there is no "Enter Contest" button on the contest page, you can do a hard refresh by pressing Ctrl+F5 or CMD+F5. Besides, don't refresh the page if a sync is requested in the profiler, or you will be to the back of the queue.
Second is to take a screenshot of your character in Tirisfal Glades, a selfie with Sylvanas or in the Scourge areas of Icecrown Citadel reflecting the Forsaken/Lich King storyline to submit to Wowhead's gallery.
The last one is Gleam giveaway. Firstly you should click the Gleam link offered by Twitter, Facebook or Discord post associated with this giveaway. Then perform social actions to gain entries for this Giveaway. You can learn more items about this giveaway from the "Terms & Conditions".
How many BlizzCon Virtual Tickets can you get?
From the three methods above, you will be able to get a total of 25 Virtual Tickets this week. 10 Virtual Tickets will be obtained via the achievement method, and 5 Virtual Tickets can be available by the screenshot method as well as 10 Virtual Tickets can be claimed via the Gleam giveaway. When you obtain them, you can enjoy various WOW rewards contained in the Virtual Tickets, such as Gillvanas, Finduin and Wendigo Woolies.
Be ready for getting BlizzCon Virtual Ticket now to enjoy the celebration and multiple rewards. Besides, you can always come to us to purchase cheap WOW gold with fast delivery.
Three ways to obtain free BlizzCon Virtual Tickets
The new round of BlizzCon Virtual Ticket giveaway will run from Oct. 25 to Oct. 29. Owning the Virtual Ticket is the final way to join in the most epic community celebration if you can't attend. And here are three ways for you to claim the free tickets:
The first way is that you can complete one or more required achievements including Downing the Dark Lady, Severed Ties, Silverpine Forest Quests, Icecrown: The Final Goal, Might of Dragonblight or Veteran of the Wrathgate. Then connect your Battle.net account to your Wowhead account and click on your character to load it in Wowhead's Profiler. After that you should enter the contest via the contest page or on your character's Profiler page. If there is no "Enter Contest" button on the contest page, you can do a hard refresh by pressing Ctrl+F5 or CMD+F5. Besides, don't refresh the page if a sync is requested in the profiler, or you will be to the back of the queue.
Second is to take a screenshot of your character in Tirisfal Glades, a selfie with Sylvanas or in the Scourge areas of Icecrown Citadel reflecting the Forsaken/Lich King storyline to submit to Wowhead's gallery.
The last one is Gleam giveaway. Firstly you should click the Gleam link offered by Twitter, Facebook or Discord post associated with this giveaway. Then perform social actions to gain entries for this Giveaway. You can learn more items about this giveaway from the "Terms & Conditions".
How many BlizzCon Virtual Tickets can you get?
From the three methods above, you will be able to get a total of 25 Virtual Tickets this week. 10 Virtual Tickets will be obtained via the achievement method, and 5 Virtual Tickets can be available by the screenshot method as well as 10 Virtual Tickets can be claimed via the Gleam giveaway. When you obtain them, you can enjoy various WOW rewards contained in the Virtual Tickets, such as Gillvanas, Finduin and Wendigo Woolies.
Be ready for getting BlizzCon Virtual Ticket now to enjoy the celebration and multiple rewards. Besides, you can always come to us to purchase cheap WOW gold with fast delivery.