• Grab's centerpiece is a product called #AutoInvest, a micro-#investment that takes the small sums of money that sit around on Grab platforms in between cab rides and food delivery, and invests them in an account offering a modest yield Link @GrabSG #asia https://t.co/UoSBRgGWjU
    euromoney.com Tue 04 Aug 2020 13:17

    On Tuesday, Grab Financial Group, the fintech attached to the southeast Asian ride-hailing and food delivery leader, announced a set of new products and services from investment to insurance to third-party lending.

    None of them, individually, is truly a game-changer. In aggregate, though, they offer a snapshot of a fast-expanding regional enterprise that isn’t going to wait to find out if it’s got a Singapore digital bank licence before setting an ambitious course.

    We have come a long way since Grab launched its GrabPay Wallet in 2017 to tie in with its ride-hailing service. Already it feels like it has been around for ever in Singapore, steadily entwining itself with the everyday lives of consumers as all the best fintechs do.

    First through reward points, then insurance joint ventures (ZhongAn) and credit cards (Citi, then a numberless card with Mastercard), the company has sought out niches and filled them where licences permit, mainly...

  • RT @businessinsider: Trump, TikTok and Microsoft: What we know about a US TikTok ban (via @Flipboard) Link
    Business Insider UK Tue 04 Aug 2020 13:17

    Microsoft is reportedly in talks to buy TikTok's US operations Trump will reportedly order China's ByteDance to divest its ownership of TikTok's US operations. Microsoft appears to be interested in picking it up.

  • Tips for companies that pledged to do better on diversity Link via @BW
    Bloomberg Tue 04 Aug 2020 13:17

    It starts with gathering data, say experts in diversity, equity, and inclusion (DEI). Ruchika Tulshyan, founder and chief executive officer of consulting company Candour in Seattle and author of The Diversity Advantage: Fixing Gender Inequality in the Workplace, suggests an internal audit. How many people of color does your organization employ, and how senior are they? Have you measured employee engagement levels by race or gender? Do you have performance reviews to indicate how fair and inclusive managers are?

  • RT @IBDinvestors: With the surge in retail brokerage account openings, there are a lot of traders out there just starting their #investing…
    Nasdaq Tue 04 Aug 2020 13:17
  • Gold's mega rally faces $2,000 hurdle, but for how long? Link https://t.co/6pgMSCWhZe
    Reuters Business Tue 04 Aug 2020 13:17

    LONDON (Reuters) - Gold’s rally has halted just below $2,000 an ounce partly due to fierce technical resistance, but an eventual break above that level is likely, freeing prices for more record highs, technical analysts said.

  • Virgin Media triples losses as pandemic eats into finances Link https://t.co/ZJtoVUuVTD
    City A.M. Tue 04 Aug 2020 13:17

    Net loss at the Liberty Global-owned firm swelled 285 per cent to £203.9m during the quarter, up from £53m during the same period last year.

    Revenue declined 3.5 per cent year on year to £1.23bn, with income streams temporarily affected by the coronavirus crisis.

  • .@staceyabrams says she's concerned about election participation: 'We have to recognize that the U.S. knows how to run elections, we just have to agree to do it properly' Link
    Reuters Tue 04 Aug 2020 13:17
  • China auto sales expected to rise 15% in July: industry body Link https://t.co/TZY4H8CHrA
    Reuters Tue 04 Aug 2020 13:17

    BEIJING (Reuters) - China’s auto sales for July are expected to rise 14.9% year-on-year to 2.08 million vehicles, the country’s top auto industry body said in a post on its official WeChat account on Tuesday.

    The China Association of Automobile Manufacturers (CAAM) said its forecast was based on sales data it had collected from key companies, without giving further details.

    It expects January to July auto sales in China, the world’s biggest auto market, to fall 12.7% year-on-year to 12.34 million units.

  • 'The competency of our response is going to be one of the metrics by which we're judged by the international community and, right now, we're failing that test.' - @staceyabrams Link
    Reuters Tue 04 Aug 2020 13:17
  • 'We're already watching the Democratic party led by @JoeBiden address the current crises by acknowledging them,' says @staceyabrams Link
    Reuters Tue 04 Aug 2020 13:17
  • Cboe Global Markets completes acquisition of leading Canadian ATS MATCHNow. See the press release for more on our plans to expand our North American equities business. Link. #DefiningMarkets https://t.co/1Ybshi0yE3
    Cboe Tue 04 Aug 2020 13:17
  • Only 2 days left to register for Ep. 3 of the North American Leveraged Finance Virtual Poolside Chat Series. Join us August 6th for a moderated Q&A with Steve Anderberg, CLO Sector Lead, S&P Global Ratings, and Dave Preston, Head of CLO, WFS. Register now: S&P Global Ratings Tue 04 Aug 2020 13:17
  • Ford announces Oct. 1 retirement of CEO Jim Hackett Link
    MarketWatch Tue 04 Aug 2020 13:17
    You're a power user moving through this website with super-human speed. You've disabled JavaScript in your web browser. A third-party browser plugin, such as Ghostery or NoScript, is preventing JavaScript from running. Additional information is available in this support article.
  • Treasury yields slide as coronavirus, stimulus negotiations come into focus Link
    MarketWatch Tue 04 Aug 2020 13:17
  • Virus resurgence could plunge emerging economies into debt crisis, warns IMF Link
    FT Economics Tue 04 Aug 2020 13:17
  • Podcast link: FYI, the Q&A conversation with Yousef Al Otaiba, UAE Ambassador to the United States, on the global #economy, #markets and international #trade and #finance. Link #centralbanks #investing #investors #economics @UAEEmbassyUS @UAEUSAUNITED #uae
    Mohamed A. El-Erian Tue 04 Aug 2020 13:17

    The economic shutdown caused by the pandemic and the ongoing disruptions will demand ongoing and complex interventions by international institutions, central banks, and national governments. Many people will require sustained economic relief simply to survive. Until a vaccine is proven effective, measures must be taken to ensure the ongoing health, safety, and economic productivity of our society.Host Yousef Al Otaiba, UAE Ambassador to the United States discusses economy with the Chief Economic Adviser to Allianz, Mohamed El-Erian. El-Erian shares his views on why the recovery will require global cooperation, why markets continue to perform despite the drop in economic output, what characteristics to watch for when investing in equities, and the impact of the quickly deteriorating relationship between the United States and China. Don’t miss this insightful and informative episode with one of the foremost global economic leaders.This material is...

  • .@staceyabrams says U.S. has to address public health crisis and return to a global health system Link
    Reuters Tue 04 Aug 2020 13:12
  • Spirit posts bigger-than-exepcted loss as virus hits aero parts demand Link https://t.co/Dk8B5VyJbv
    Reuters Tue 04 Aug 2020 13:12

    (Reuters) - Spirit AeroSystems (SPR.N) made less than a third as much revenue as a year earlier and reported a bigger-than-expected quarterly loss on Tuesday, as its top customers Boeing and Airbus slashed production due to a collapse in global travel.

  • First question from @aagalloni: 'What are the biggest challenges that Joe Biden faces in this election and how can he overcome them?' @staceyabrams answers ? Link
    Reuters Tue 04 Aug 2020 13:12
  • Ford announces that Jim Hackett will retire as president and CEO $F https://t.co/2DUo6vf0Nh
    Reuters Tue 04 Aug 2020 13:12
  • One of the world’s ‘most livable’ cities just went into full lockdown mode as coronavirus cases spike MarketWatch Tue 04 Aug 2020 13:12
  • KKR raises a record $16bn in second quarter Link
    FT Energy Tue 04 Aug 2020 13:12
  • Juul made changes to the world's best-selling e-cigarette that might draw unwelcome attention from the FDA Link
    Businessweek Tue 04 Aug 2020 13:12
    Juul Labs Inc. introduced in the spring of 2015 was known internally by an eccentric code name: Splinter, after a rodent martial-arts master in the comic Teenage Mutant Ninja Turtles. Splinter, about the size of a thumb drive, got off to an undeniably splashy start. It appeared on billboards in Times Square. Influencers flashed it on Instagram. Wired magazine ran a
  • Rural co-ops played a major role in bringing electricity to rural Americans. Nearly 900 rural electric co-ops still operate today. Link #EconFocus https://t.co/ulFYD9BoXY
    Richmond Fed Research Tue 04 Aug 2020 13:12

    The electric industry that powers so much of modern life was originally born out of a desire for better lighting. At the turn of the 19th century, people relied on candles or oil and gas lamps to light their homes. While these sources produced some light, they also gave off heat and smoke and required fuel and regular maintenance. The introduction of electric lighting, first arc lamps in the 1870s for city streets followed by the incandescent light bulb in the 1880s, heralded a much brighter future.

    Electricity was initially a novelty for the rich, but utility companies soon discovered ways to take advantage of economies of scale in power generation and distribution, making it more affordable and accessible. Inventors created new machines using electric power in factories and homes, spurring growing demand. As a result, by the end of the Roaring '20s, most American cities were electrified. City dwellers enjoyed brightly illuminated homes and streets, indoor heating, and...

  • Market drivers will remain the same for most of this week — leading the move in equities to twist and turn based on the latest news of the day. @ChrisJVersace and @EllesEconomy discuss today's markets: Link
    Nasdaq Tue 04 Aug 2020 13:12

    Equities in Asia finished higher across the board led by the Hong Kong Hang Seng Index and Japan's Nikkei 225 Index, which finished 2.0% and 1.7% higher on the day, respectively. By comparison, European equities were mixed at the halfway point in trading today and U.S. futures point to a lower opening later this morning.

    The agenda for investors today is pretty much the same as it was yesterday - gridlock in Washington over the next round of pandemic related stimulus, a plethora of corporate earnings, July economic data releases, questions over how the seasonal Back to School season will fare (assuming there will be an actual "back to school"), and the impact of Hurricane Isaias as it sweeps up the East Coast of the U.S. Barring any major progress in Washington today, we suspect those market drivers will remain the same for most of this week, leading the move in equities to twist and turn based on the latest news of the day. Hopefully, by the time Isaias is finished,...

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