NEW YORK—The chief of New York state’s pension fund said on Thursday that McDonald’s Corp., PepsiCo. and other companies with a large footprint in Russia “need to consider whether doing business in Russia is worth the risk during this extraordinarily volatile time.” Political pressure is building for companies to halt business in Russia because of…
NY Pension Chief Says McDonald’s, PepsiCo Should Consider Russia Risk
March 7, 2022
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Fitbit Recalls Over One Million Ionic Smartwatches Over Burn Injury Risk
Google-owned Fitbit has recalled more than a million of its Ionic smartwatches following reports that overheating batteries had caused burn injuries, the U.S Consumer Product Safety Commission (CPSC) said on Wednesday. The regulator said Fitbit had received at least 115 reports in the United States and 59 from overseas, including cases where the overheating led…
Chart Wars: Between Apple and Microsoft, Which Tech Stock Offers Better Risk-Reward?
March 2, 2022
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Apple Inc. and Microsoft Corporation were trading up 1.62 percent and 1.44 percent off the open, respectively, early on Monday morning but began to sink slightly by midday following reports that the negotiations between Russian and Ukrainian delegations sent to Belarus won’t immediately result in any agreement between the two countries. The SPDR S&P 500,…
2022 is Risk Off and May be the Wake of a November Market Top
Commentary It’s always risky to one’s reputation to call a market top, but given recent developments, I will step up to take the seat of Dionysius and be under Damocles’ sword. In my view, if we are not at a market top, we are at least most certainly in a “risk off” environment. Since its…
Cabify Risks Losing Fleet Supremacy to Uber in Home Base Madrid
MADRID—The ride-hailing app Cabify, one of Spain’s few ‘unicorn’ tech startups, risks losing ground to foreign rivals such as Uber or Bolt in its home base Madrid due to a row over exclusivity with a company which employs 1,100 of its drivers. Entrepreneur Felix Ruiz, co-founder of the privately-held firm Auro which owns the cars…
Alibaba’s Sole Bear Analyst Considers Stock a Valuation Trap Amid Mounting Regulatory Risks
December 15, 2021
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Manuel Muhl, who downgraded Alibaba Group Holding Ltd. to a sell in late July before its 39 percent plunge, said the stock remains a valuation trap, SCMP reports. Alibaba’s intrinsic value appeal is not adequately reflected in the stock price as China’s regulatory risks and U.S. delisting pressures continue to mount. “The fear that the…
Global Investors Ending 2021 ‘Risk-On’: BofA
November 16, 2021
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MILAN—Investors are heading towards the end of the year in a “risk-on” mood, having reduced cash allocations and lifted their overweight position on U.S. stocks to the highest since August 2013, BofA Securities’ monthly fund manager survey showed. Inflation remains the biggest tail risk for markets but a majority of 61 percent believes it is…
BoE Faces Decision Day, Caught Between Inflation and Slowdown Risks
LONDON—The Bank of England will deliver its most hotly awaited policy decision in years on Thursday, when it will either raise borrowing costs from an all-time low or say it is waiting to ensure the post-lockdown economy is ready for a rate hike. The British central bank is due to make its announcement at 1200…
Risk Currencies’ Rally Pauses, Yen Recovers, Turkish Lira Sinks
October 21, 2021
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LONDON—Australian and New Zealand dollars slipped from highs hit overnight, and the dollar fell versus the yen on Thursday, in what analysts said was profit-taking following a strong rally. The U.S. dollar index was flat on the day at 1051 GMT, at 93.669. Versus the Japanese yen, the dollar was down 0.3 percent at 114….
Dollar Dips as Risk Sentiment Improves, Bitcoin Hits Record High
October 20, 2021
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NEW YORK—The dollar dipped on Wednesday as risk sentiment improved and as investors focused on rising commodity prices and when global central banks are likely to begin hiking interest rates to fend off persistently high inflation. The greenback hit a one-year high against a basket of other currencies last week as market participants ramped up…
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