Sales & Marketing news

• Cryptocurrency marketplace Coinbase reportedly eyeing stock market listing as early as this year

  09-07-2020 16:44 via feedproxy.google.com
  Cryptocurrency exchange Coinbase has started planning for a stock market listing that could take place as soon as this year, Reuters reported Thursday, citing sources familiar with the matter.
  If the Securities and Exchange Commission signs off on the listing, Coinbase could become the first publicly traded cryptocurrency marketplace.
  The company is eyeing a direct listing for its debut over a traditional initial public offering, sources told Reuters. 
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• Ed Hyman was named Wall Street's best economist 39 times and called the tech bubble. He outlines 3 market drivers that are aligning perfectly for investors looking to capitalize on coronavirus chaos.

  09-07-2020 16:34 via feedproxy.google.com
  
  Ed Hyman — the founder, chairman, and head of economic research of Evercore ISI — sees a confluence of positive market-moving factors brewing on the horizon.
  Hyman says markets have the "upper hand" over the coronavirus due to a deluge of global stimulus.
  Click here to sign up for our weekly newsletter Investing Insider.
  Click here for more BI Prime stories."We've taken a real hit."
  That's what Ed Hyman — the founder, chairman, and head of economic research of Evercore ISI &mda
  
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• Warren Buffett tumbles to his lowest ever position on the list of the world's richest people after a $2.9 billion charity donation

  09-07-2020 16:20 via feedproxy.google.com
  Billionaire investor Warren Buffett donated $2.9 billion worth of Class B shares in his Berkshire Hathaway charity this week, taking his total philanthropic contributions to $37 billion in 14 years.
  The donation, however, has pushed him to his lowest ever position on Bloomberg's widely cited Billionaires Index.
  Buffett was overtaken on the list by Google founders Larry Page and Sergey Brin.
  Jeff Bezos, CEO of Amazon is the world's richest man on the index, having gained $68 billion since the pan
  
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• Biden releases $700 billion 'Buy American' plan that echoes Trump's economic nationalism

  09-07-2020 16:11 via feedproxy.google.com
  
  Joe Biden rolled out a $700 billion "Buy American" plan that mirrors Trump's economic nationalism with a renewed focus on domestic manufacturing and job creation in the US.
  The two main components anchoring the proposal are a purchasing initiative to bolster demand for US-made goods and services, and investments in research and breakthrough technologies.
  Trump campaigned in 2016 to bring back jobs from overseas and repeatedly blasted China's trade relationship with the US, and he sparked a trade
  
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• US stocks trade mixed as jobless claims fall for another week

  09-07-2020 15:46 via feedproxy.google.com
  US equities traded mixed on Thursday after weekly jobless claims came in lower than economists expected.
  Unemployment-insurance claims last week declined to 1.3 million, the Labor Department announced on Thursday. Economists surveyed by Bloomberg had expected a reading of 1.38 million.
  Tech mega-caps rallied higher as investors continued to pile into firms relatively insulated from rising coronavirus cases.
  Oil traded largely unchanged, with West Texas Intermediate crude falling as much as 1.1%,
  
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• Hedge funds plunged a record 7.9% in the first half of the year as the coronavirus pandemic roiled markets

  09-07-2020 15:07 via feedproxy.google.com
  Hedge funds lost a record 7.9% on an asset-weighted basis in the year's first half, according to data from Hedge Fund Research. 
  None of the hedge funds' four major strategies made money in the first six months of 2020, the report showed.
  Markets suffered a meltdown in March as the coronavirus pandemic panicked investors. Since, however, equities have recovered most of the losses.
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  Hedge funds got slammed in the first half of the year as global markets su
  
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• Bank of America sees 3 mall REIT stocks to buy — and 4 to avoid

  09-07-2020 15:07 via feedproxy.google.com
  
  Bank of America's biennial demographics report on mall REITs looked at several factors to determine which are performing the best, and the worst.
  The report looked at the seven mall REITs currently traded: CBL & Associates (CBL), Macerich (MAC), Pennsylvania REIT (PEI), Simon Property Group (SPG), Taubman Centers (TCO), Unibail-Rodamco-Westfield's US assets (URW), and Washington Prime Group (WPG).
  The top three REITs were URW, TCO, and SPG, and the bottom four were MAC, PEI, WPG, and CBL.
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• GOLDMAN SACHS: Wall Street is bracing for a historically wild stock market as the presidential election nears. Here's a surprising yet simple strategy for protecting your portfolio — regardless of outcome.

  09-07-2020 14:54 via feedproxy.google.com
  
  Investors are paying extraordinarily high premiums to hedge their portfolios around an expectedly volatile election time, according to a recent note from Goldman Sachs. 
  While VIX futures for November are soaring, Goldman Sachs' David Kostin recommended extending hedges until December, when volatility is expected to be lower relative to November. 
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  Visit Business Insider's homepage for more stories.Investors are paying e
  
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• Walgreens freezes share buybacks after posting $1.7 billion 3rd-quarter loss

  09-07-2020 14:52 via feedproxy.google.com
  Walgreens halted its share buyback program and said it plans to cut 4,000 jobs after reporting worse-than-expected third-quarter figures.
  The drugstore giant lost $1.95 per share over the period, or $1.71 billion overall.
  The company's Boots UK division saw same-store sales nosedive 48% over the period as quarantine orders "compelled consumers to consolidate shopping into grocers," Walgreens said.
  The pharmacy chain's shares traded as much as 5.1% lower early Thursday on the news.
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• US weekly jobless claims hit 1.3 million, less than economist forecasts

  09-07-2020 14:34 via feedproxy.google.com
  
  US jobless claims for the week that ended Saturday totaled 1.3 million, the Labor Department said Thursday. That came in below the consensus economist estimate of 1.38 million.
  Thursday's report marked the 14th straight week of declining claims. It also brought total filings over a 16-week period to nearly 50 million.
  Continuing claims, the aggregate total of people receiving unemployment benefits, totaled 18.1 million for the week that ended June 27.
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• Wall Street is being shaken to its core by a legion of Gen Z day-traders. From a casual hobbyist to a 20-year-old running a 14,000-person platform, meet the new generation of retail investors.

  09-07-2020 14:24 via feedproxy.google.com
  
  A wave of retail investors has flooded the stock market with speculative bets and unexpected picks. Wall Street is struggling to make sense of the trend.
  Industry icon Leon Cooperman said the trend would "end in tears." Burton Malkiel, author of "A Random Walk Down Wall Street," called the younger investors' strategies "simply disastrous."
  The new generation of day-traders sees it differently. College student Vishu Namburi leveraged surging interest into an online community that's grown to more
  
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• A Chinese tech stock skyrocketed 924% on its trading debut, breaking the record for a first-day gain

  09-07-2020 14:17 via feedproxy.google.com
  Shares in a Chinese tech company soared 924% during their trading debut on Thursday, according to Bloomberg.
  QuantumCTek's stock price rose more than tenfold, to about 370 yuan ($53), boosting its market capitalization to north of $4.2 billion.
  The stock broke Shanghai's Star market's record for a first-day gain of 614%, set on Tuesday.
  QuantumCTek's market cap is more than 110 times its sales last year and 600 times its net income.
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  A Chinese t
  
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• The world's richest people are getting more and more annoyed at how much it costs them to look after their money

  09-07-2020 13:08 via feedproxy.google.com
  The world's richest people aren't happy about how much it's costing them to manage their money, according to a new survey from consultancy Capgemini.
  33% of millionaires surveyed were found to be unhappy with the fees their wealth manager charges them, Capgemini's World Wealth Report showed.
  More than one in five of those high net-worth individuals might switch firms in 2021 with high fees being the main driver of any switch for 42% of those surveyed, it said.
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• Billionaire investor Marc Lasry says the Fed's rampant stimulus makes 2020 a once in a lifetime opportunity for investors, as the US economy is fundamentally fine

  09-07-2020 12:11 via feedproxy.google.com
  Billionaire hedge fund investor Marc Lasry thinks the Fed pouring in trillions of dollars into the system, despite the economy "doing fine" has been lucrative for investors. 
  He called COVID-19 a "once in a lifetime opportunity" for investors, who he said can benefit from massive stimulus while the economy itself is fundamentally solid.
  "You're not going to see this again. Where you've actually got an economy that's fine, and you've got a Fed pumping trillions of dollars in," he told Yahoo!
  
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• Walmart to launch competitor to Amazon Prime scheme

  09-07-2020 01:14
  
  Amazon’s Prime program has been one of the most important drivers of shopping frequency and basket size; its main competitor, Walmart, is now launching a version with a few tricks up its sleeve.
  
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• Upfront boost for podcasts

  09-07-2020 01:14
  
  In another sign of the growing maturity of the podcast market, Omnicom Media Group has struck a deal with Spotify that will see it spending $20m on advertising in podcasts during the second half of this year.
  
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• Lockdown and Dry(ish) July boost alcohol-free category

  09-07-2020 01:14
  
  Sales of alcohol-free beverages were already growing rapidly in Australia, but lockdown and the annual Dry July month has given them an extra boost.
  
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• How marketing and procurement can work towards the same goals

  09-07-2020 01:14
  
  There is a fundamental question that anybody obtaining marketing services has to grapple with – do you want them cheap or do you want them to be good – but a new report from the WFA seeks to flesh out a theory of value to end the savings-focused...
  
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• How HSBC balances global and local brand needs

  09-07-2020 01:14
  
  HSBC, the financial-services provider, has aimed to strike a balance of global consistency and local flexibility in its branding strategy after launching a refreshed positioning two years ago.
  
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