Thursday, January 20

Stock Market

Stock Market

Vergecast: Wordle’s App Store clones, FTC’s Meta lawsuit moves forward, and PC’s big year
Stock Market

Vergecast: Wordle’s App Store clones, FTC’s Meta lawsuit moves forward, and PC’s big year

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10 Great Deals for Bundling Up Indoors This Winter
Stock Market

10 Great Deals for Bundling Up Indoors This Winter

Bundle yourself up in blankets and PJs, mix up that hot cocoa, and plunk down on the sofa with a good movie or book. That's what this time of the year is for. These deals on bedding and warm clothing can help. With the right pajamas, comforters, and loungewear, you can go from sleep time to daytime without a frigid moment. If your home tends to be drafty and cold, take a look at our guide on winterizing your home.Special offer for Gear readers: Get a 1-year subscription to WIRED for $5 ($25 off). This includes unlimited access to WIRED.com and our print magazine (if you'd like). Subscriptions help fund the work we do every day.If you buy something using links in our stories, we may earn a commission. This helps support our journalism. Learn more.Bedding DealsBrooklyn Bedding Signature Hybr...
Sri Lanka is flirting with default
Stock Market

Sri Lanka is flirting with default

ALMOST THREE years since terrorists blew up hotels along Colombo’s lovely beaches and two years since covid-19 shut down international travel, tourists have begun returning to Sri Lanka, providing sorely needed foreign exchange. The country’s stockmarket has been bounding along, up by more than 80% in 2021, trailing only commodity-rich Mongolia among global bourses. Corporate profits have been strong, too. GDP growth last year was somewhere between 3.5% (by private estimates) and 5% (by the government’s). This suggests a thriving economy. Yet alarm bells are clanging.Encouraging though the renewed tourist arrivals may be, they are still barely a fifth of the pre-pandemic peak. Exports grew strongly in the fourth quarter of 2021 but are still too meagre to prevent a looming financial crisis...
The faster metabolism of finance, as seen by a veteran broker
Stock Market

The faster metabolism of finance, as seen by a veteran broker

Jan 15th 2022A FEW YEARS ago a stranger sidled up to me at a conference. I had been introduced as an equity salesman with over 30 years of experience. “Success or failure?” he asked impishly. I laughed. When I started in stockbroking, anyone older than 50 carried an air of defeat. If they hadn’t made enough money to retire early, they were seen as losers. Well, I’m still here and I’m not the only one. There is a lot more grey hair on the sales desks these days.That is not the only change. Trading revenue is slimmer, because of regulation and new technology. The way sell-side analysts and salespeople are paid has changed. But the biggest difference is in the kinds of conversation I have and who I have them with. Twenty years ago, I hardly spoke to the fast-money crowd. Now most of my day is...
The new government hopes to cure Germans’ distaste the stockmarket
Stock Market

The new government hopes to cure Germans’ distaste the stockmarket

Jan 15th 2022THE 177-PAGE coalition agreement between Germany’s Social Democrats, Free Democrats (FDP) and the Greens contains grand plans to combat climate change and covid-19, and to speed up digitisation. Tucked away on page 73 is a more modest promise, to fund a small part of its public-pension scheme by investing in stocks. Reactions in Germany ranged from the apprehensive to the enraged. “Is our pension safe in stock?” fretted one news outlet. Another asked: “Are politicians gambling away our pension?”As retirees live longer, Germany’s pension system, which was established in 1889 by Otto von Bismarck, is buckling. Workers and bosses together pay a “pension tax” of about 18% of a worker’s gross wage. This is meant to fund the roughly €300bn ($340bn, or about 9% of GDP) paid out in pe...
Welcome to the era of the bossy state
Stock Market

Welcome to the era of the bossy state

Jan 15th 2022THE RELATIONSHIP between governments and businesses is always changing. After 1945, many countries sought to rebuild society using firms that were state-owned and -managed. By the 1980s, faced with sclerosis in the West, the state retreated to become an umpire overseeing the rules for private firms to compete in a global market—a lesson learned, in a fashion, by the communist bloc. Now a new and turbulent phase is under way, as citizens demand action on problems, from social justice to the climate. In response, governments are directing firms to make society safer and fairer, but without controlling their shares or their boards. Instead of being the owner or umpire, the state has become the backseat driver. This bossy business interventionism is well-intentioned. But, ultimate...
ASOS hit by supply chain disruption, volatile Christmas demand
Stock Market

ASOS hit by supply chain disruption, volatile Christmas demand

LONDON (Reuters) - British online fashion retailer ASOS reiterated its already downgraded outlook on Thursday after supply chain constraints and volatile demand limited sales growth in its four months to Dec. 31 trading period.It posted total sales growth of 5%, following a 22% rise in the year to end August, and said gross margin decreased by 400 basis points to 43.0% driven by a need to discount goods and higher freight costs.For the full year it reiterated its outlook of revenue growth in the range of 10%-15% and adjusted profit before tax of 110 million pounds to 140 million pounds. That hit its shares when it was published in October, and would represent a more than 40% drop on the year before."ASOS has delivered a robust start to the year, in line with the guidance we set out at full...
ASOS hit by supply chain disruption, volatile Christmas demand – Reuters UK
Stock Market

ASOS hit by supply chain disruption, volatile Christmas demand – Reuters UK

A model walks on an in-house catwalk at the ASOS headquarters in London April 1, 2014. REUTERS/Suzanne Plunkett/File PhotoRegister now for FREE unlimited access to Reuters.comRegisterLONDON, Jan 13 (Reuters) - British online fashion retailer ASOS (ASOS.L) reiterated its already downgraded outlook on Thursday after supply chain constraints and volatile demand limited sales growth in its four months to Dec. 31 trading period.It posted total sales growth of 5%, following a 22% rise in the year to end August, and said gross margin decreased by 400 basis points to 43.0% driven by a need to discount goods and higher freight costs.For the full year it reiterated its outlook of revenue growth in the range of 10%-15% and adjusted profit before tax of 110 million pounds to 140 million pounds. That h...
Can big oil’s bounce-back last?
Stock Market

Can big oil’s bounce-back last?

CALLS FOR the oil business to decarbonise are growing louder everywhere, and not just from governments and environmentalists. Moody’s, a rating agency, reckons that half of the $1.8trn in the energy industry’s global debt stock that it evaluates is held by asset managers and insurers who face increasing pressure on environmental, social and governance (ESG) fronts, notably the climate. An annual survey of 250 big institutional investors published on January 6th by the Boston Consulting Group (BCG) found that more than four in five think it is important for firms to establish targets for long-term emissions reductions. Nearly as many “feel increased pressure” to apply green filters to investments.At the same time, the International Energy Agency, a global forecaster, expects worldwide oil c...
In a first, TCS, Infosys, Wipro results on same day. Market watchers trade memes, jokes
Stock Market

In a first, TCS, Infosys, Wipro results on same day. Market watchers trade memes, jokes

For the first time, India's three top infotech companies – Tata Consultancy Services (TCS), Infosys and Wipro – are kicking off the IT results season for October-December on the same day. January 12, 2022 / 03:31 PM IST The quarterly earnings of TCS, Infosys, Wipro are being announced on the same day. For the first time, India’s three top infotech companies – Tata Consultancy Services (TCS), Infosys and Wipro – will kick off the IT results season for October-December on the same day -- Wednesday -- followed by HCL Tech on Friday.With three companies reporting their earnings back-to-back on Wednesday, market watchers and IT analysis had a field day, an...