Sharp investment – Sharp TH http://sharp-th.com/ Wed, 23 Nov 2022 14:14:57 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://sharp-th.com/wp-content/uploads/2021/07/icon-2021-07-02T222002.614-150x150.png Sharp investment – Sharp TH http://sharp-th.com/ 32 32 KLK, Batu Kawan Q4 earnings driven by lower investment and manufacturing profits https://sharp-th.com/klk-batu-kawan-q4-earnings-driven-by-lower-investment-and-manufacturing-profits/ Wed, 23 Nov 2022 13:50:00 +0000 https://sharp-th.com/klk-batu-kawan-q4-earnings-driven-by-lower-investment-and-manufacturing-profits/ KUALA LUMPUR (November 23): Batu Kawan Bhd and its 47.74%-owned Kuala Lumpur Kepong Bhd (KLK) reported lower profits for the fourth quarter ended September 30, 2022 (4QFY22), mainly due to due to the significant decline in investment and manufacturing profits. KLK’s net profit fell 26% year-on-year to RM462.13m in 4Q22 from RM625.8m a year ago, […]]]>

KUALA LUMPUR (November 23): Batu Kawan Bhd and its 47.74%-owned Kuala Lumpur Kepong Bhd (KLK) reported lower profits for the fourth quarter ended September 30, 2022 (4QFY22), mainly due to due to the significant decline in investment and manufacturing profits.

KLK’s net profit fell 26% year-on-year to RM462.13m in 4Q22 from RM625.8m a year ago, despite revenue growing 18% to 6.98bn of RM against 5.93 billion RM, according to its stock exchange file.

KLK’s plantation business recorded a 13.3% increase in profit before tax (PBT) to RM513.6 million from RM453.2 million on higher oil sales prices. crude palm oil (CPO) and the increase in the volume of sales of CPO and palm kernel. Its property development business also saw PBT rise from RM14.6 million to RM18.7 million.

But these increases were offset by a sharp drop in investment holding profit from RM208.9 million to RM48.3 million amid a declining equity profit share of the foreign partner Synthomer plc and higher interest charges on increased borrowings.

On top of that, its manufacturing profit fell 40.6% to RM164.2 million from RM276.6 million due to lower profit contribution from its oleochemicals division and a loss not realized (vs. a previously unrealized gain) due to changes in the fair value of outstanding derivative contracts. .

For the whole of FY22, the plantation giant’s net profit fell 4% from RM2.26 billion to RM2.17 billion in FY21, despite growth in revenue by 36% from RM19.92 billion to RM27.15 billion, with taxation increasing to RM781.12 million. from RM524.37 million.

For FY23, the group warned that its financial performance was likely to be “challenging”, amid falling CPO prices due to rising risk of a global recession. It also expects its manufacturing segment to continue to face volatile commodity prices, rising energy costs and weaker demand.

To mitigate these headwinds, the group said it will continue to increase productivity and efficiency.

Meanwhile, its parent company Batu Kawan reported a 28% decline in net profit to RM222.79 million for 4QFY22 from RM308.04 million a year ago, despite revenue growth of 17% to RM7.22 billion from RM6.16 billion.

Likewise, despite higher income from plantation and real estate development, its manufacturing and investment holdings weighed on its earnings, with Synthomer also playing a role in the latter’s slowing earnings.

Nevertheless, for the whole of FY22, Batu Kawan managed to record a 2.4% growth in net profit to RM1.17 billion from RM1.15 billion in FY21, while revenue increased by 36% to RM28.22 billion from RM20.72 billion.

On Wednesday, November 23, Batu Kawan shares settled 30 sen or 1.42% higher at RM21.44 per share, valuing the group at RM8.57 billion, while KLK, on ​​the other hand, closed 10 sen or 0.47% lower at RM21.20 per share, giving it a market capitalization of RM22.92 billion.

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Stock market today: after a sharp fall, the markets are recovering https://sharp-th.com/stock-market-today-after-a-sharp-fall-the-markets-are-recovering/ Fri, 18 Nov 2022 05:14:20 +0000 https://sharp-th.com/stock-market-today-after-a-sharp-fall-the-markets-are-recovering/ Stock market today: After plunging sharply the day before, Indian equity indices rallied to post gains on Friday, though dangers point to a drop in global equities following interest rate warnings from policymakers at the Federal Reserve.At the start of trade, the BSE Sensex jumped 106.58 points to 61,857.18, while the broader NSE Nifty index […]]]>

Stock market today: After plunging sharply the day before, Indian equity indices rallied to post gains on Friday, though dangers point to a drop in global equities following interest rate warnings from policymakers at the Federal Reserve.
At the start of trade, the BSE Sensex jumped 106.58 points to 61,857.18, while the broader NSE Nifty index gained around 0.2%.

In the previous session, both benchmarks had crashed

Asian Paints, Axis Bank, Kotak Mahindra Bank, Infosys and Cipla were the top five winners among the Nifty 50 companies, while Eicher Motors, Apollo Hospitals, Mahindra & Mahindra, Britannia and Hero Motocorp were the top five losers.

“There are currently no substantial global or national events that can decisively alter the markets. As a result, the market is likely to swing around current levels. Additionally, there is no catalyst to force “The market continues to have a ‘Buy on Dips’ texture,” Geojit Financial Services Chief Investment Strategist VK Vijayakumar said.

Recent Fed speakers have underscored the importance of going further to ease price pressures, despite inflation just starting to decline and a measure of U.S. retail sales rising at the pace the fastest in eight months.

Read also : Google Play to warn users to update their apps if they crash, everything you need to know

Treasury yields maintained full-curve gains in early Asian trade, after rising the day before when St. Louis Fed President James Bullard said higher interest rates were on the way. necessary to discourage inflation and warned of possible financial difficulties.

The bond market recession warning left S&P 500 futures unchanged on Friday, while Nasdaq futures rose 0.1%.

Bullard’s comments come a day after San Francisco Fed President Mary Daly said a pause in rate hikes was “out of order”. On Thursday afternoon, Minneapolis Fed President Neel Kashkari reiterated the Minneapolis Fed’s aggressive stance.

Following these warnings, Asian stocks were volatile on Friday.

“The market feels that inflation is down.” We agree, but the fact that inflation has peaked is no reason for the Fed to turn around and cut rates,” said Paul Christopher, head of global market strategy at Wells Fargo Investment Institute, on Bloomberg Radio. “That’s the underlying divergence between the Fed and the market,” he added.

Stock market today: Blue chip stocks in China fell 0.1%

Rising coronavirus cases in China, along with liquidity issues in the country’s bond market, have contributed to the fear. Blue-chip Chinese stocks fell 0.1% on reports that Beijing urged banks to monitor bond market liquidity following some investors’ losses from sky-high yields.

A rise in COVID-19 cases in China has raised fears that efforts to ease tough mobility restrictions that have stifled the economy are at risk.

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Indian equities cement safe haven status and set to extend lead over global peers https://sharp-th.com/indian-equities-cement-safe-haven-status-and-set-to-extend-lead-over-global-peers/ Mon, 14 Nov 2022 06:08:00 +0000 https://sharp-th.com/indian-equities-cement-safe-haven-status-and-set-to-extend-lead-over-global-peers/ After emerging as a safe haven amid this year’s global equities rout, Indian equities look set to extend their lead over global peers and end 2022 on a high. A return from overseas investors is supporting the market, where the benchmark S&P BSE Sensex index hit a record high on Friday as risky assets […]]]>

After emerging as a safe haven amid this year’s global equities rout, Indian equities look set to extend their lead over global peers and end 2022 on a high.

A return from overseas investors is supporting the market, where the benchmark S&P BSE Sensex index hit a record high on Friday as risky assets cheered on a drop in US inflation. An unprecedented boom in retail investment, strong domestic demand that has enabled one of the fastest growth rates in the world, and political stability are also tailwinds that have helped India decouple from the rest. Emerging Markets.

“Amid the noise of markets around the world today, India is sending the right signals,” said Vikas Pershad, fund manager for Asian equities at M&G Investments (Singapore) Pte. “There is still a lot to love about the opportunity offered in India, whether judged in absolute or relative terms. The likelihood that we will see continued outperformance is high.

Up 6.1% this year, the Sensex is on track for a seventh consecutive annual increase. Its gain is the biggest among benchmarks in countries with stock markets valued at at least $1 trillion, and compares to a 23% loss in the MSCI Emerging Markets Index. The MSCI All-Country World Index is down 18% in 2022.

As local retail money helped cushion the Indian market earlier in the year amid a record foreign exodus triggered by the Federal Reserve’s aggressive rate hikes, stocks have steadily strengthened. since this year’s lows in June, as overseas buyers slowly returned. Strong earnings last quarter also bolstered investor confidence in the economic recovery.

India recently overtook the UK to become the world’s fifth largest economy. Gross domestic product is expected to grow 7.0% in fiscal 2023, according to a recent Bloomberg News survey.


China Diversifier

India has also benefited from China’s relentless fall this year, which has spooked global funds. As they sold off Chinese stocks in October, Indian stocks saw an influx. Overall, foreigners have bought $2.5 billion net of Indian stocks so far this quarter after picking up $6 billion in the previous three months.

“From an asset allocation perspective, we see Indian equities as a diversifier from China’s reopening risks,” said Ray Sharma-Ong, chief investment officer of multi-asset solutions at abrdn plc. . “We believe Indian equities will remain quite resilient in the current environment.

Flow trends – both foreign and local – and investor reaction to further policy tightening from the Reserve Bank of India could be key to the outlook for stocks.

Meanwhile, China’s battered market is seeing a sharp rebound in November as signs emerge that authorities are moving away from the strict Covid Zero policy. The rally continued on Monday, with a surge in property names as the country plots its most sweeping bailout for the sector.

Given that the Covid checks and the real estate crisis have been the main pain points for investors, the measures taken by the authorities could encourage funds to pile up in Chinese assets, which would have an impact on the demand for Indian assets.


“A strengthening oil price also poses a key risk,” said Sat Duhra, Singapore-based fund manager at Janus Henderson Investors. India imports nearly three-quarters of its oil, making it one of Asia’s most vulnerable countries to rising prices. “In the face of rising external risks, it is difficult to see India sustaining this level of valuation premium.”


Structural growth

Still, many long-term market watchers say India’s market performance will be helped by underlying fundamentals such as favorable demographics that are central to its domestically-focused economy.

Government incentives are also encouraging foreign companies, including iPhone makers, to set up factories in India, which boosts local production and attracts foreign investment.

“Given all the problems we are seeing in global markets, India is a safe haven,” said Tushar Pradhan, chief investment officer at HSBC Asset Management India. India’s per capita income is expected to hit a higher trajectory, and “when you hit that kind of range, which happened to China 20 years ago, the next 10 to 20 years is a period of significant growth. revenues”.


Morgan Stanley expects India’s GDP to more than double to over $7.5 trillion by 2031 and its market capitalization to grow by more than 11% annually to $10 trillion. dollars, according to a report released last month.

Local investors poured about $1.1 billion into equity funds in October, marking a 20th consecutive month of net inflows.

“In all the years I have watched the Indian stock market, I have never seen such strong national confidence in the economy, in markets in such challenging global conditions,” said Gary Dugan, chief executive of the Global CIO Office. “Improving market performance hinges on structural change and the government delivering on its broad promises. We expect the good news to keep rolling in.

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A reason the rich get richer https://sharp-th.com/a-reason-the-rich-get-richer/ Thu, 10 Nov 2022 17:55:00 +0000 https://sharp-th.com/a-reason-the-rich-get-richer/ By Brett Arends While ordinary investors tend to buy when the market is already bullish and sell when the market is down, the ultra-rich don’t. Legend has it that Ernest Hemingway and F. Scott Fitzgerald disagreed about who was rich. Fitzgerald, who had stars in his eyes, reportedly said, “The rich are different from the […]]]>

By Brett Arends

While ordinary investors tend to buy when the market is already bullish and sell when the market is down, the ultra-rich don’t.

Legend has it that Ernest Hemingway and F. Scott Fitzgerald disagreed about who was rich.

Fitzgerald, who had stars in his eyes, reportedly said, “The rich are different from the rest of us.

“Yes,” replied Hemingway, who did not. “They have more money.”

This exchange may not have taken place, at least not in person. The story can simply be based on things the two said and wrote separately.

But in any case: who was right?

Well, there’s new research that says: Maybe a bit of both.

When it comes to their investment portfolios, retirement plans, and estates, the wealthy can truly be different from the rest of us. And I don’t just mean they have more money.

Five economists from Harvard, Princeton and the University of Chicago analyzed detailed monthly portfolio data from Addepar, a wealth management platform used by investment advisers. This gave them information on up to 139,000 household wallets totaling up to $1.8 trillion in assets. In other words, a decent sized sample.

They looked at what these investors did, by month, from January 2016 to August 2021. Although this period was less than six years in total, it included a lot of excitement, including unrest around the presidential election. of 2016, the sharp market drop of late 2018, the COVID crash of March 2020, and two big booms.

Most importantly, economists have been able to group portfolios by size. The sample included nearly 1,000 “very wealthy” households with more than $100 million in assets each.

And they found something very interesting — and important.

While mainstream investors tend to buy when the market is already bullish and sell when the market is falling, those the researchers dubbed UHNWs don’t.

“We estimate how the flow into liquid risky assets responds to aggregate stock market returns across the wealth distribution,” the researchers wrote. “Quite strikingly, we find that sensitivity declines sharply in wealth. In fact, flows from households with assets above $100 million are essentially insensitive to stock market returns.”

In other words, “while less wealthy households act pro-cyclically, UHNW households buy stocks during a downturn.” (Pro-cyclical means buying after the market is up and selling when it is down.)

Indeed, UHNW households are so counter-cyclical that they help stabilize markets during downturns. They are the ones who buy when others sell.

This, inevitably, brings us back to the old, old paradox: the rich get richer.

Meanwhile, we already know that ordinary mom and pop investors enter and exit the market at the wrong time. They sell after the market crashes and buy when it has already recovered.

Why is this important?

That’s something to keep in mind if you’re considering selling your 401(k) stock funds now that the market has already fallen by a fifth.

It’s also something to keep in mind the next time the market is booming and you’re tempted to dive in headfirst.

The wealthy, it seems, tend to decide in advance what their balance between “safe” and “risky” assets is, and they try to keep it the same all the time, rebalancing in a sense when things are booming and the other way when crashing.

This also raises an interesting question in today’s market. Some market commentators have said we won’t hit market lows until private investors bail out. They cite, for example, private client data from BofA Securities.

Maybe they are right. But how many are the rich and how many are the others?

For example, check out the latest data from the Investment Company Institute, the mutual fund industry’s trade body. It is a very good indicator of the behavior of individual investors, at least everyone with a 401(k), IRA or something similar.

According to ICI, individual investors have been bailing out the stock market throughout 2020 (when, of course, they should have been buying). Then they bought for most of 2021 (when, of course, they should have sold, especially towards the end).

This year? They have been out on bail since April. Net sales were strong in the third quarter.

None of this, of course, proves that the market has bottomed or is near a bottom or anything like that. Any market veteran will tell you that a market bottom can only be seen in the rearview mirror – and usually a long time ago.

And the rich don’t have a magic crystal ball. John D. Rockefeller, at the time the richest man in the world, is famous for buying the market after the initial Wall Street crash of 1929. “There is nothing in the business situation that justifies the destruction values ​​that took place on the stock exchanges last week,” he said publicly. “My son and I have been buying healthy common stocks for a few days.

It ended up working, of course. But he was, alas, about three years ahead. The market would fall another 80% before hitting bottom. (To be fair, he couldn’t have foreseen that the Federal Reserve, the US Treasury and the US Congress would respond to the crash with foolish policies that led to the worst depression in history.)

Still, the next time you’re tempted to panic about the market, you might want to ask yourself, “What would a really, really rich person do?”

-Brett Arends

 

(END) Dow Jones Newswire

11-10-22 1255ET

Copyright (c) 2022 Dow Jones & Company, Inc.

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S&P downgrades Credit Suisse over fears of risks to its recapitalization strategy https://sharp-th.com/sp-downgrades-credit-suisse-over-fears-of-risks-to-its-recapitalization-strategy/ Wed, 02 Nov 2022 10:28:30 +0000 https://sharp-th.com/sp-downgrades-credit-suisse-over-fears-of-risks-to-its-recapitalization-strategy/ By Geoffrey Smith Investing.com — Credit Suisse’s (NYSE:CS) credit rating was hit again on Wednesday, as Standard&Poor’s said its plans for a major overhaul appear fraught with execution risk. S&P downgraded the Swiss bank’s long-term rating by one notch to BBB-, the lowest rating yet to qualify as investment grade, saying it sees “significant execution […]]]>

By Geoffrey Smith

Investing.com — Credit Suisse’s (NYSE:CS) credit rating was hit again on Wednesday, as Standard&Poor’s said its plans for a major overhaul appear fraught with execution risk.

S&P downgraded the Swiss bank’s long-term rating by one notch to BBB-, the lowest rating yet to qualify as investment grade, saying it sees “significant execution risks in an economic and deteriorating and volatile market”.

He added that “certain details regarding the asset sales remain unclear”, but nevertheless left the bank’s outlook at “stable”.

CS management unveiled a sweeping restructuring last week aimed at pulling the bank out of a long decline caused by erratic leadership and poor risk management. It aims to raise $4 billion in new capital, with Saudi National Bank leading the capital raise by taking a 9.9% stake.

In addition, it aims to largely withdraw from investment banking, consolidating these activities under a new brand Credit Suisse First Boston. It has already agreed in principle to sell its securitized products business to a consortium led by private equity firms.

However, there was also good news for the bank on Wednesday. S&P’s arch-rival Moody’s decided not to downgrade its rating even though it downgraded one of its largest subsidiaries, while the Financial Times reported that the Qatari Investment Authority had the plans to increase its stake in the bank, alongside the Saudi-based company. investment company Olayan.

After the capital raise, the three Middle Eastern groups could own just under 25% of the bank, the FT said, citing people familiar with the matter.

The $4 billion capital raise will fill a hole in the balance sheet created by a similarly sized loss in the third quarter, which was the Swiss bank’s fourth consecutive quarterly loss. The bank’s ability to thrive thereafter will hinge on its success in bringing high-net-worth individuals back into its global asset and wealth management business, after a sharp acceleration in outflows over the past three months.

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Will the stock market crash end the era of big tech “pornographic” profits? | Technology https://sharp-th.com/will-the-stock-market-crash-end-the-era-of-big-tech-pornographic-profits-technology/ Sat, 29 Oct 2022 21:34:00 +0000 https://sharp-th.com/will-the-stock-market-crash-end-the-era-of-big-tech-pornographic-profits-technology/ LLast week was a bad time to be a tech billionaire. When the pandemic drove the world online, the founders of Facebook, Google and Microsoft reaped wealth gains dubbed “pornographic” and cemented their position among the wealthiest cohort to ever tread the planet. Well, the “good times” are over. Kind of. The world’s biggest tech […]]]>

LLast week was a bad time to be a tech billionaire. When the pandemic drove the world online, the founders of Facebook, Google and Microsoft reaped wealth gains dubbed “pornographic” and cemented their position among the wealthiest cohort to ever tread the planet. Well, the “good times” are over. Kind of.

The world’s biggest tech companies announced their latest results last week, and for the most part the news was bad. Meta (formerly Facebook), Alphabet (formerly Google) and Microsoft saw billions disappear from their values ​​as investors began to worry that the tech titans’ best days were behind them. As investors headed for the exit, the five biggest tech stocks tumbled $950bn (£820m) to their lowest point. The slide also hit the fortunes of their creators.

Facebook co-founder Mark Zuckerberg’s fortune plunged $11 billion on Wednesday after Meta Platforms reported a second straight quarter of disappointing results. The company’s shares fell by a fifth – a steep depreciation that brought Zuckerberg’s overall decline in wealth this year to more than $87 billion. The numbers may only be arithmetically mishandled – 38-year-old Zuckerberg is still worth around $38 billion, according to Bloomberg – but that’s a striking drop from the $142 billion he could count on in September 2021 Almost all of his wealth is tied up in stock Meta; he owns more than 350 million shares. On Thursday, Zuckerberg ranked 28th on the Bloomberg list, down 25 places from his previous ranking at third place.

Meta’s 71% drop in value this year is due to many factors, including ad tracking controls instituted by Apple, a slowdown in digital ad spending, the challenge of Facebook-owned Instagram by TikTok, and the Meta’s multi-billion dollar investment in the Metaverse – the virtual world it throws money at despite a less than warm reception, even from its own staff.

Jeff Bezos’ Amazon saw its shares tumble on forecasts of a poor Christmas season and uncertain consumer spending. Photography: Nils Jorgensen/Rex Shutterstock

This investment has troubled investors. Zuckerberg said he expects the project to lose “significant” money over the next three to five years. On Wednesday, he asked for patience.

“I think we’re going to work out each of these things over different periods of time,” Zuckerberg said. “And I appreciate patience, and I think those who are patient and invest with us will eventually be rewarded.” Wall Street seems quite impatient.

CNBC TV anchor Jim Cramer, who has been a booster for Meta, looked on the verge of tears after the latest results were released. “I made a mistake here,” Cramer told viewers. “I was wrong. I trusted this management team. It was misguided. The hubris here is extraordinary and I apologize.

Zuckerberg is not alone. According to Forbes, tech billionaires have lost $315 billion since last year.

On Thursday, Amazon said this Christmas season would be less cheerful than analysts had expected and that consumer spending was in “uncharted waters”, sending its stock price down 20%. The decline hit Amazon founder Jeff Bezos as low as $4.7 billion that day. Bezos had already lost nearly $60 billion in 2022, still leaving him with a net worth of around $134 billion.

A day earlier, Microsoft’s earnings report showed that reliable cloud computing earnings growth at its Azure division was slowing, dragging the company’s valuation down nearly 8%. It will hit Bill Gates, whose fortune this year shrank by nearly $30 billion to around $109 billion.

Even Tesla founder Elon Musk, the world’s richest man and now owner of Twitter, hasn’t been immune to the downturn. Shares of Tesla, the electric vehicle maker, have fallen 43.7% since the start of the year. This reduced the fortune of the would-be colonizer of Mars from $58.6 billion over the past 12 months to a still astronomical $212 billion.

But despite the week’s stock market bloodbath, 56 of the 65 tech billionaires on Forbes The magazine’s list – which includes Oracle founder Larry Ellison, Google founders Larry Page and Sergey Brin, Twitter founder Jack Dorsey and former Microsoft CEO Steve Ballmer – is still richer than there is. three years.

Earlier this year, Chuck Collins, the director of the Institute for Policy Studies think tank that runs its inequality program, estimated that America’s billionaires had seen their combined wealth increase by more than $1.7 billion. , a gain of more than 58%, during the pandemic. Recent declines have, according to Collins, reduced that figure to $1.5 billion, or 51%.

“The gains were so extraordinary over the two years of the pandemic, it was almost pornographic,” he said. “Billionaires are essentially disconnected from the real world and the real economy. Even if their wealth adjusts now, who else has had a 51% gain in assets over the past two years?”

Billionaires are not the real victims. Tech companies have come to dominate US equity markets and their decline drags down the broader market, and with it the pensions and savings of Americans who are also struggling with rising interest rates and high inflation. for 40 years.

The larger question is: how long will this fall last and who will be most affected? They are unlikely to be the aristocrats of big tech. “If wealth is going to disappear from the economy, this is the best place for it to disappear,” Collins says. “It may slow the trickle down to philanthropy, but the reality is that most billionaires give to their own foundations and donor-advised funds. But it could mean there’s less dynastic wealth, which ultimately I think is a good thing.

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Ford records a loss and abruptly turns away from automated driving https://sharp-th.com/ford-records-a-loss-and-abruptly-turns-away-from-automated-driving/ Wed, 26 Oct 2022 21:52:00 +0000 https://sharp-th.com/ford-records-a-loss-and-abruptly-turns-away-from-automated-driving/ DETROIT, Oct 26 (Reuters) – Ford Motor Co (FN) reported a third-quarter net loss on Wednesday due to its decision to shift spending from the Argo AI self-driving business. Ford’s move, a stark contrast to rival General Motors Co’s (GM.N) decision to double down on investment in its Cruise robotaxi unit, highlights the pressure on […]]]>

DETROIT, Oct 26 (Reuters) – Ford Motor Co (FN) reported a third-quarter net loss on Wednesday due to its decision to shift spending from the Argo AI self-driving business.

Ford’s move, a stark contrast to rival General Motors Co’s (GM.N) decision to double down on investment in its Cruise robotaxi unit, highlights the pressure on automakers to make tough choices as the financial demands of switching to electric vehicles continue to increase.

The two American automakers continue to post heavy losses on the development of automated vehicles.

Ford reported a net loss of $827 million in the quarter after taking a $2.7 billion pretax writedown on its investment in Argo AI.

Ford shares fell 1.6% in after-hours trading.

The automaker said Argo would be “liquidated” and “talented engineers” would be offered positions at Ford.

Argo’s other key investor, Pittsburgh-based Volkswagen AG (VOWG_p.DE), said it also plans to hire staff from Argo.

In a statement on Wednesday, Argo said it “will not pursue its mission as a business,” a decision that was made “in coordination with our shareholders.” He said some Argo employees would be fired.

Ford and VW each own about 39% of Argo, with Lyft Inc (LYFT.O) owning about 2% and the remainder held by Argo founders and employees.

Chief Executive Jim Farley said Wednesday that Ford would shift its development focus from fully autonomous systems developed by Argo to advanced driver assistance systems (ADAS) created in-house at Ford. Such systems are partially automated but still require humans to remain engaged as a vehicle moves.

“Mass-scale, fully autonomous, cost-effective vehicles are still a long way off and we won’t necessarily have to create this technology ourselves,” Farley said in a statement.

The U.S. automaker said third-quarter revenue jumped to $39.4 billion, up 10% from a year ago. Adjusted operating profit fell to $1.8 billion from $3.0 billion a year ago, but beat analysts’ consensus estimate of $1.7 billion.

Adjusted operating earnings per share of 30 cents beat analysts’ estimate of 27 cents.

Ford warned in mid-September that inflation-linked supplier costs were about $1 billion higher than expected.

GM reported net income of $3.3 billion on Tuesday on record third-quarter revenue of $41.9 billion. GM reaffirmed its forecast for annual net profit of $9.6 billion to $11.2 billion.

While GM executives were generally optimistic about the company’s earnings announcement, Ford was more cautious.

Ford Chief Financial Officer John Lawler in a briefing on Wednesday said: “We see the likelihood that we could enter a mild (or) moderate recession in the United States next year. We could potentially have a more substantial decline in Europe.”

Ford said it expects adjusted earnings before interest and taxes for the full year to be about $11.5 billion, up about 15% from a year ago, but down from its previous forecast of $11.5 billion to $12.5 billion.

Reporting by Joseph White and Paul Lienert in Detroit Additional reporting by David Shepardson in Washington Editing by Ben Klayman and Matthew Lewis

Our standards: The Thomson Reuters Trust Principles.

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Korea Zinc: the challenges of the economic slowdown and the energy crisis https://sharp-th.com/korea-zinc-the-challenges-of-the-economic-slowdown-and-the-energy-crisis/ Mon, 24 Oct 2022 06:00:05 +0000 https://sharp-th.com/korea-zinc-the-challenges-of-the-economic-slowdown-and-the-energy-crisis/ The authors are analysts from Shinhan Investment Corp. They can be contacted at krpark@shinhan.com and mw.choi@shinhan.com respectively. — Ed. Consolidated and autonomous POs will disappoint in 3Q22 Korea Zinc is expected to have generated consolidated sales of KRW 2.55 tr (+5.5% YoY) and operating profit of KRW 263.3 billion (-0.9% YoY) for […]]]>



The authors are analysts from Shinhan Investment Corp. They can be contacted at krpark@shinhan.com and mw.choi@shinhan.com respectively. — Ed.

Consolidated and autonomous POs will disappoint in 3Q22

Korea Zinc is expected to have generated consolidated sales of KRW 2.55 tr (+5.5% YoY) and operating profit of KRW 263.3 billion (-0.9% YoY) for 3Q22 , missing consensus estimates of KRW 2.69 tr for sales and KRW 285.2 billion for operations. profit. On a standalone basis, we expect sales of KRW 1.87 tr (+9.8% YoY) and operating profit of KRW 247.1bn (+12.9% YoY), both below consensus (sales of KRW 1.93 tr, operating profit of KRW 263.4 bn).

The weak earnings were mainly caused by disappointing sales volume growth. In a context of quarterly declines in the prices of the main metals (zinc -16.6%, lead -10.5%, gold -7.8%, silver -15.5%), the volume of sales had not increased strongly compared to the previous quarter due to the economic slowdown. The year-on-year decline in consolidated operating profit is attributed to weak profits at Sun Metals Corporation, an Australian subsidiary of Korea Zinc. Along with large zinc refineries in Europe, its subsidiary also faces production disruptions triggered by rising electricity costs, which are bound to lead to reduced production.

Limited zinc supply due to global power shortages versus low demand

The global energy crisis has led to the suspension of production at the main zinc refineries. With prices of energy resources (LNG, coal, etc.) typically rising in winter, the growing possibility of cold spells has raised concerns about prolonged energy shortages in some regions. Despite a tight supply in the spot market, zinc prices are expected to remain in the low to mid range of USD 3,000 per tonne through the end of the year given the rate hikes by the US Fed and the sluggish growth of the Chinese economy.

If global power shortages continue in 4Q22, production disruptions from the Australian subsidiary could weigh on earnings, similar to 3Q22. We need to monitor the situation closely. For 4Q22, we expect sales at KRW 2.86 tr (-4.2% YoY) and operating profit at KRW 337.9 billion (+17.6% YoY) assuming the company recorded double-digit quarter-on-quarter sales volume growth as well as a resumed partial decline in its subsidiary’s production volume.

Hold the BUY and lower the target price to 680,000 KRW

We are maintaining our BUY rating on Korea Zinc, but lowering our price target from KRW 700,000 to KRW 680,000 due to our revised earnings forecast. While we don’t expect any visible momentum for strong near-term earnings growth, we believe that accumulating Korea Zinc stock during the correction remains a valid investment strategy. The company should benefit from the rise in the USD/KRW exchange rate and has relatively stable earnings visibility in the steel/non-ferrous metals sector.

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Transparent Display Market Size and Forecast https://sharp-th.com/transparent-display-market-size-and-forecast/ Fri, 21 Oct 2022 18:35:12 +0000 https://sharp-th.com/transparent-display-market-size-and-forecast/ New Jersey, United States – In a report recently published by Verified Market Reports, titled “Transparent Display Market Report 2022“, analysts provided a detailed overview of the transparent display market. The report is an all-inclusive research study of the Transparent Screens Market taking into account growth factors, recent trends, developments, opportunities and competitive landscape. Market […]]]>

New Jersey, United States – In a report recently published by Verified Market Reports, titled “Transparent Display Market Report 2022“, analysts provided a detailed overview of the transparent display market. The report is an all-inclusive research study of the Transparent Screens Market taking into account growth factors, recent trends, developments, opportunities and competitive landscape. Market analysts and researchers have carried out an in-depth analysis of the transparent display market using research methodologies such as PESTLE and Porter’s five forces analysis. They have provided accurate and reliable market data and helpful recommendations with the aim of helping players get an insight into the overall current and future market scenario. The report includes an in-depth study of the potential segments including product type, application, and end-user and their contribution to the overall market size.

Additionally, market revenue based on region and country is provided in the report. The report’s authors also shed some light on common trading tactics that players are adopting. Major Transparent Display Market players and their comprehensive profiles are included in the report. In addition to this, the investment opportunities, recommendations, and trends currently emerging in the transparent display market are mapped by the report. With the help of this report, key players in the Transparent Display market will be able to take wise decisions and plan their strategies accordingly to stay ahead.

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Key Players Mentioned in the Transparent Display Market Research Report:

Samsung, Panasonic, LG, Sony, Jingdongfang, Sharp

Key companies operating in the transparent display market are also studied extensively in the report. The Transparent Display report offers a pin-point understanding of the vendor landscape and development plans, which are likely to take place in the near future. This report as a whole will serve as an effective tool for market players to understand the competitive scenario in the Transparent Display market and plan their strategic activities accordingly.

Transparent Display Market Segmentation:

Global Transparent Display Market by Type:

• LCD
• OLED
• Electronic paper

Global Transparent Display Market by Application:

• Mobile screens
• Laptop computing
• Retail apps
• Building-related applications
• Other

The competitive landscape is a critical aspect that every key player should be familiar with. The report sheds light on the competitive scenario of the Transparent Screens Market to know the competition at national and global level. Market experts have also provided an outline of each major Transparent Display market player, keeping in view the key aspects such as areas of operation, production, and product portfolio. Moreover, the companies in the report are studied based on key factors such as company size, market share, market growth, revenue, production volume, and profit. This research report aims to provide the readers with all the necessary information that will help them to function effectively in the overall global market and achieve fruitful results.

The report has been segregated based on distinct categories, such as product type, application, end user, and region. Each segment is valued based on CAGR, share, and growth potential. In the regional analysis, the report highlights the prospective region, which is expected to generate opportunities in the Transparent Display Market in the coming years. This segmental analysis will surely prove to be a useful tool for readers, stakeholders, and market players to get a complete picture of the Transparent Display market and its growth potential in the coming years. The major regions covered in the report are North America, Europe, Asia Pacific, Middle East & Africa, South Asia, Latin America, Central & South America South, etc. The Transparent Display report offers in-depth assessment of the growth rate of these regions and a comprehensive examination of the countries which will lead the regional growth.

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What to expect in our report?

(1) A comprehensive section of the Transparent Displays market report is devoted to market dynamics, which includes influencing factors, market drivers, challenges, opportunities, and trends.

(2) Another large section of the research study is reserved for the regional analysis of the Transparent Display Market where important regions and countries are assessed for their growth potential, consumption, market share, and others vital factors indicating their market growth.

(3) Players can use the competitive analysis provided in the report to develop new strategies or refine their existing strategies to meet market challenges and increase their share of the Transparent Display market.

(4) The report also examines the competitive situation and trends and sheds light on company expansions and ongoing mergers and acquisitions in the transparent display market. Moreover, it sheds light on the market concentration rate and market shares of top three and top five players.

(5) Readers are provided with the research study findings and conclusion provided in the Transparent Display Market report.

Key questions answered by the report:

(1) What are the growth opportunities for new entrants in the Transparent Display industry?

(2) Which are the key players operating in the Transparent Display Market?

(3) What are the key strategies participants are likely to adopt to increase their share in the Transparent Display industry?

(4) What is the Competitive Situation in the Transparent Display Market?

(5) What are the emerging trends that may be influencing the growth of the Transparent Display market?

(6) Which product type segment will have a high CAGR in the future?

(7) Which application segment will grab a big share in the transparent display industry?

(8) Which region is lucrative for manufacturers?

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Eye on $600 Billion – Jamaica Observer https://sharp-th.com/eye-on-600-billion-jamaica-observer/ Fri, 14 Oct 2022 01:39:35 +0000 https://sharp-th.com/eye-on-600-billion-jamaica-observer/ (Photo: Karl Mclarty) FORMER Scotia Group Chair and CEO Jacqueline Sharp and Financial Economist Dr Adrian Stokes launched Jamaica’s newest financial entity, Quantas Financial Group, in a bid to ‘open the menu’ options available to investors. “Officially, Quantas Financial Group started operations about four months ago,” said Stokes, who will serve as the entity’s chief […]]]>

(Photo: Karl Mclarty)

FORMER Scotia Group Chair and CEO Jacqueline Sharp and Financial Economist Dr Adrian Stokes launched Jamaica’s newest financial entity, Quantas Financial Group, in a bid to ‘open the menu’ options available to investors.

“Officially, Quantas Financial Group started operations about four months ago,” said Stokes, who will serve as the entity’s chief executive. Jamaica Observer in an exclusive interview. Stokes, who is the former head of wealth and insurance at Scotia Group Jamaica, left the role in February. At the time, Scotia Group, in a statement to the Jamaica Stock Exchange, said it was “leaving the business to pursue other opportunities”.

These opportunities turn out to be a push into the market for contractual cash flows, including but not limited to trade receivables – a market according to Stokes has been conservatively estimated at US$4 billion ( $600 billion).

“We’re looking to give investors the ability to invest in a vehicle that does securitization. So effectively what that vehicle does, it buys different cash flows/receivables, wraps or securitizes those receivables to create new securities , then sells those securities to end users such as pension funds, insurance companies, or accredited individual investors who are concerned about credit and other major market risks in the current market environment. , investors get a return from the profits we make,” the CEO of Quantas Financial Group said.

Quantas’ first investment solution as mentioned is a securitization vehicle.

“We are currently looking at different types of trade receivables. We currently have a very large pipeline of over $140 million,” he added.

“What we’re doing isn’t completely new and new. It’s just new to our market,” said Sharp, chairman of the board of Quantas Financial Group. Sharp, who left Scotia Group in October 2017 to join his family business, added: “These are things that happen in more sophisticated developed markets. If you look at the United States, for example, that market is about US$14 trillion, a huge market for receivables financing. In the Caribbean and Latin America region, we are looking at around US$1.5 trillion and we estimate Jamaica to be around US$4 billion ($600 billion),” she continued.

“It only comes from publicly available data,” Stokes added, pointing out that there are many more claims that are not publicly known, which presents a “great-great opportunity.”

Outside of US Treasuries, this is the largest section of the market, he noted. According to the Securities Industry and Financial Markets Association (SIFMA), the US Treasuries market is valued at US$46 trillion.

Sharp and Stokes say the motivation behind starting Quantas is to improve capital allocation in Jamaica and the Caribbean.

“Financial markets in our region are still at an early stage of development. Many good investment ideas never see the light of day because they lack access to capital. Therefore, economic growth and development in our region are relatively weak. Economic development in our region will be given greater impetus as our financial markets develop and improve the allocation of capital. Quantas was formed to continue the development of financial markets in our region, and in doing so, we will help create solutions for a better Caribbean and a better world,” they said.

Quantas Financial Group itself is made up of three entities: Quantas Capital, Quantas Investments and Quantas Management. “The company’s name actually derives from the Latin word quantus, which means, how much,” Stokes pointed out. “Then we work with our marketing team to come up with Quantas, which is a play on the word quantus.”

So far, it has targeted asset-backed securities (ABS), which are financial investments secured by a pool of underlying assets, typically those that generate cash flow from debt, such as loans, leases, credit card balances or receivables.

“In fact, we are focused on providing investors with non-traditional financial solutions. As you know, you have your regular bonds and stocks and your pensions which are your traditional investment solutions. What we do, we provide investors from additional asset classes so that they can diversify their investment portfolios,” Stokes added, noting that he did not want Quantas Financial Group to meddle in the market where other entities are “already doing good work.” .

When asked if the company intends to branch out from this market, Stokes replied: “We will bring different kinds of solutions. We don’t want to say too much at this stage, other than the opportunity that we have in the market right now, which is the securitization vehicle. But above all, a key part of what we do, we innovate. We don’t replicate existing investment opportunities. We believe that market players do great job with the different opportunities that are available so we don’t intend to create replicas of existing opportunities in the market so mostly what you will see just like this new investment opportunity we have on the market, it’s going to be new, it’s going to be innovative and above all it’s going to offer investors a diversification of opportunities, different from what exists on the market.”

“We think this is an exciting opportunity for us because we saw the need. I certainly saw [the need] when I was at Scotia and of course Adrian would have seen it more in his recent role as Head of Investments and Insurance at Scotia,” added Sharp. “The reality is that there are pension funds and institutional investors who have cash and very few options to invest those funds, and so at the same time, at the other end, you have people who need financing, especially longer term which banks usually cannot finance, and they need creative structures. So really, the goal of this company is to be in the middle and bring the two together,” explained the president of Quantas.

Stokes was quick to point out, however, that while the company is dealing with receivables, “we’re looking at receivables that are good receivables. It’s not just any receivables, because we have a receivables management architecture. very strict risks which allows us to choose quality receivables.”

“When we talk about receivables, we use the term very broadly because it encompasses different types of cash flows. You’re talking about leases, for example. So if you’re a business and you’ve built commercial buildings, and you have tenants who have leased these stores to you, and they have lease payments that are due over the next three, four, five years, we can buy those leases from the developer or the landlord and pay them in cash, which they can go and reinvest in new areas or new projects, etc. So it’s not just your traditional trade receivables, but any type of contractual cash flow.”

“Anything you put in as contractual cash flows that we can understand that can pass through our conservative risk measures, then that will be a candidate for us for securitization.”

Sharp added: “These companies need to have strong, predictable cash flows, contractual cash flows that we can understand. We can understand the history, we can do our due diligence on the counterparty to those receivables. other words, if you have a building that you have rented to someone, we want to understand who is a person you have rented to, are they of good character, do they normally pay on time, etc. What is their model that shows they have the ability to meet those contractual cash flows.”

So far, Quantas Financial Group has assembled an impressive list of finance gurus to lead the campaign. In addition to Stokes who is the CEO, the team is made up of Stanley Thompson, who is the executive vice president for product innovation; Sitarah Smith, executive vice president of treasury services; Layne Atkinson, executive vice president for risk management; Cherice Lee, vice president of operations; and Franklyn Anderson, vice president of product innovation. Stokes said the goal was to increase the number of employees to 15.

While he did not say how much money was used to capitalize the entity, he pointed out that hotelier Kevin Hendrickson and CB Group CEO Matthew Lyn are key strategic partners. Both are directors of Quantas Financial Group along with Oliver “Ollie” McIntosh, founder and chairman of Verticast Media Group, and Denise Williams, former senior vice president of communications at Cable & Wireless. Sharp and Stokes are the other board members.

“We want to collaborate with existing players. We see ourselves as collaborators. In other words, most if not all of the things we create, we will be able to work with existing players in the market. For example, on retirement On the fund side, one of the things we’re going to do is give them an additional opportunity to diversify their portfolios, right now most of what they have are bonds, stocks, real estate and pension funds and their investors need additional asset classes to properly diversify their portfolios.”

But the company isn’t just targeting Jamaica. Sharp and Stokes already have their sights set on the Dominican Republic and Trinidad.

From left to right: Jacqueline Sharp, Chairman of the Board, and Dr. Adrian Stokes, CEO, Quantas Financial Group (Photo: Karl Mclarty)

SHARP… “What we do is not completely new and new. It’s just new to our market. (Photo: Karl Mclarty)

STOKES… “We are looking to give investors the opportunity to invest in a vehicle that does securitization. (Photo: Karl Mclarty)

The Quantas Financial Group logo and slogan.

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