Taiwanese suppliers for the iPhone are reporting a month-to-month revenue decline for November reports the Nikkei Asian Review. The news could be a sign that demand for iPhones has peaked, suggest Lauly Li and Cheng Ting-Fang, writing: TAIPEI -- A majority of Apple's Taiwanese suppliers suffered a monthly fall in revenue in November, as hopes for a sales uptick of the new iPhones ahead of the holiday season were dashed. Seven of nine Apple suppliers tracked by the Nikkei Asian Review logged a month-on-month revenue decline in November, according to figures released on Monday. The nine … [Read more...]
E-Commerce: Not Just for the West Anymore
While Amazon has rapidly dominated the e-commerce market in the United States, America isn't the only place e-commerce is revolutionizing the way people shop. Cheap, internet connected electronic devices have opened the entire world to e-commerce, and consumers everywhere are taking advantage of the efficiency of shopping online. Indonesia's Jakarta Post explains the surge in online shopping there, writing: Global management consulting firm McKinsey & Company has forecast fast growth for e-commerce in Indonesia, predicting sales to reach US$65 billion annually by 2022, eight times the $8 … [Read more...]
Have Democrats Killed the Trump Bump?
In what may be a reaction to Nancy Pelosi's Democrats winning control of the House of Representative in November, small businesses' outlook for the future has declined sharply. Patrick Thomas reports for The Wall Street Journal: Optimism among small-business owners fell slightly in November for the third straight month, mainly due to concerns about slower economic growth and moderating expectations for sales, according to a survey from the National Federation of Independent Business. The NFIB Small Business Optimism Index had a November reading of 104.8, down 2.6 points from the prior … [Read more...]
American Factories Booming
America's factories surprised economists with a stronger than expected reading on the Institute for Supply Management's manufacturing index. Economists had expected a reading of 57.9, but were pleasantly surprised with a strong reading of 59.3. Harriet Torry reports for The Wall Street Journal: Readings above 50 indicate activity is expanding across the manufacturing sector, while numbers below 50 signal contraction. November’s reading exceeded the 57.9 economists surveyed by The Wall Street Journal had expected. The report was compiled before this weekend’s announcement of a trade truce … [Read more...]
Will Parliament Accept May’s Deal with the EU?
The government of British Prime Minister Theresa May has signed a Brexit deal with the EU. Now May will try to get the deal through the U.K. Parliament, which must agree in order for the Brexit process to move forward. Max Colchester and Laurence Norman report at The Wall Street Journal: European Union leaders approved on Sunday a treaty outlining divorce terms with the U.K., a milestone in Britain’s bid to extract itself from the bloc that now leaves Prime Minister Theresa May with a tough task selling the deal to skeptical lawmakers in Parliament. Since Britons voted to break from the EU … [Read more...]
Is This Just the Beginning of the FAANG Collapse?
Barbara Kollmeyer, reporting at MarketWatch, rounds up a host of negative views on the future of the FAANGS. She writes: Hide behind defensives? That doesn’t seem like such a crazy strategy lately as investors wait to see if worries about the U.S. economy turn into real problems in the coming year. Tuesday’s session offered the most recent evidence of that as health care, consumer staples and utilities drove the gains for the S&P 500. Compare these numbers—the Utilities Select Sector SPDR XLU, -0.30% is up 4% for the quarter, while the Technology Select Sector SPDR XLK, +0.84% has … [Read more...]
Happy Thanksgiving!
Chinese Exiting U.S. Real Estate Market?
One thing that has propped up the U.S. real estate market since the financial crisis has been the willingness of foreign buyers, especially Chinese buyers, to purchase land and buildings in America. That trend could be reversing itself, however. Esther Fung reports in The Wall Street Journal: Chinese companies spent tens of billions of dollars on U.S. real estate in the years following the financial crisis, snapping up high-profile properties like the Waldorf Astoria and Baccarat Hotel in New York. But in the second quarter Chinese investors turned net sellers of U.S. real estate for the … [Read more...]
Oil Market Turbulence
Oil's recent big price drops are some of the largest ever. Stephanie Yang and Christopher Alessi report: Oil prices notched their longest losing streak on record Monday, as comments from President Trump negated expectations that the global oil cartel and its allies will cut production. Light, sweet crude for December delivery fell 0.4% to $59.93 a barrel on the New York Mercantile Exchange, marking the 11th consecutive session of losses, the longest in data going back to 1983. Brent crude, the global benchmark, also closed lower, down 0.1% to $70.12 a barrel. Read more here. … [Read more...]
The Fourth Industrial Revolution?
Klaus Schwab, founder of the World Economic Forum, is calling the future economy, "powered by the mobile internet, automation and artificial intelligence," the fourth industrial revolution. After revolutions driven by coal and steam, electricity and the automobile, and computing, Schwab sees these new technologies pushing the world forward to new heights. The Wall Street Journal's Christopher Mims writes: Each of these earlier revolutions is easy to measure in hindsight—tons of steel produced, number of automobiles on the road, the proportion of homes with a PC. Since we’re just at the … [Read more...]
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