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Internet stocks were hit hard during the first half of 2022 as rising inflation drove investors away from the growth sector, which is most sensitive to rising interest rates. The pain lies ahead as the economy shows signs of softening in consumer demand, but according to Evercore ISI, some stocks may weather the storm better … Read More “Evercore ISI sees trouble for internet stocks, but names top picks” »
BENGALURU: Main indices on Wall Street were set to open higher on Thursday as investors assessed the monetary policy outlook amid growing concerns about an economic slowdown following aggressive interest rate hikes to tackle inflation. Global stock markets tumbled in the first half of the year against a backdrop of rising inflation, the Ukraine conflict … Read More “Wall St.’s eyes wide open as investors assess interest rate outlook” »
According to RBC Capital Markets, Boston Beer has “much more to take away” for now, as hard seltzer’s popularity has waned, and it fails to innovate on new products. Analyst Nick Modi downgraded Boston Beer shares from outperform to sectoral performance, saying in a note Thursday that weak sales of its hard seltzer line are … Read More “RBC Downgrades Boston Beer, Cuts Price Target on Decking Popularity of Truly Hard Seltzer” »
US casinos, gaming companies and lawmakers are calling on federal prosecutors to crack down on illegal offshore gambling sites they say are evading consumer protection rules. The push comes as sports gambling has expanded rapidly in recent years with more than 30 states in the US and Washington, DC. “What was once a relative nuisance, … Read More “Casino industry urges federal prosecutors to crack down on illegal operators” »
According to Bank of America, it’s time to sell Kohl’s shares as consumer demand weakens from inflation, and after the retailer ends deal negotiations. Analyst Lorraine Hutchinson downgraded Kohl’s shares from neutral to underperforming as inflationary pressures cut into sales at the department store chain, according to a Thursday note. Hutchinson wrote, “We are downgrading … Read More “Bank of America downgraded to underperforming Kohl’s sees risk for stock with deal off-the-table” »
Kuala Lumpur: green produce has received approval from its shareholders at the EGM to acquire a 65% equity interest in Greenfield Rubber Holdings (M) Limited (GRHM) for RM87.8mil. In a statement, the horticulturist said that GRHM is an investment holding company and acts as an agent for the sale and purchase of rubber and rubber … Read More “GreenEiled wins shareholders’ nod to buy assets in PNG” »
On Wednesday, Shell said the Holland Hydrogen I facility will be “Europe’s largest renewable hydrogen plant” when it begins operations in 2025. Shell is one of several large firms that want to have a marker in this area. Ina Fassbender | AFP | Getty Images Plans to build a major hydrogen plant in the Netherlands … Read More “Shell to build ‘Europe’s largest renewable hydrogen plant’” »
Kuala Lumpur: The international reserves of Bank Negara Malaysia (BNM) stood at US$ 109 billion as of June 30, 2022. In a statement today, the central bank said the reserves position is sufficient to finance 5.8 months of imports of goods and services and 1.1 times total short-term external debt. The main components of international … Read More “Bank Negara’s international reserves stand at US$100bil as of June 30” »
Kuala Lumpur: The Unit Price Index of Buildings of Cost Materials Index (BCI) (without steel bars and with steel bars) for all building categories in Malaysia increased in June 2021 compared to June 2021, said Department of Statistics Malaysia (DoSM) . Chief statistician Datuk Seri Dr Mohamed Uzeer Mahdin said the average unit price of … Read More “DoSM: Average steel bar price up 15.9% in June” »
Kuala Lumpur: Telecom Malaysia Bhd (TM) unveiled its new cloud and digital services company Credence, aimed at accommodating private enterprises and the public sector in their digital transformation journey, said a joint statement. Krish Dutta, Founder and CEO, Credence, said that digital services range from technology infrastructure to business insights, cloud advisory, IT landscape migration, … Read More “Telecom unveils credentials of cloud and digital services company” »
