Jack Ma’s Ant Group IPO was supposed to be going public on the Shanghai Stock Exchange recently, but has been halted by the Chinese government for disagreements between the Chinese government and Jack Ma (AliBaba/Ant Group’s co founder).
The IPO was listed to raise over $37 billion dollars USD, making it the biggest share sale in the history of the global stock markets. Saudi Arabia’s Aramco holds the biggest share offering title; currently with its share offering last December 2019, raking 29.4 billion dollars USD. The spectators will have to wait and see, if or when the IPO will go public -SB
With the national protests occurring in the United States. There has long been an issue about the income inequality among minorities and investment inequalities among minorities, especially African Americans.
Analytics and data collected from The Federal Reserve indicate that over 60% of white families have stock share holdings while only 30% of black families have stock holdings. Indicated is that only a third of African American families are seeing the benefits from the stock market rally, currently occurring.
The wealth gap between minorities and white families is also very wide. Median white family net worth is $171,000 while African American family median net worth is approx $18,000. These wealth gaps tend to have economical effect on minority and black families as they are not given a fighting chance to improve financially and economically amongst their counterparts. -SB
Vice chairman of Berkshire Hathaway, Charlie Munger has indicated that the recession that has been displayed because of the Coronavirus; has had drastic effect on the US and global economy as a whole.
Vice chair Munger has indicated executives from top S&P 500 companies are not seeking a government bailout aka “government intervention”, because in his opinion they are “too frozen” to do so. He has spoken that the airline industry has done very little to bring increase scrutiny on where they lie ahead of their financial stats and balance sheets. -SB
Over 3.3 million Americans have claimed unemployment benefits because of the coronavirus, the U.S. Labor Dept has indicated this past week. The virus has taken a toll on businesses, income wages and society’s everyday way of living.
These numbers reflect a growing number of Americans who are currently unemployed and are seeking financial relief; because of what the COVID-19 virus has done to their working wages. Many people have insisted that the impact has burdened them into massive financial debt.
It also has to be noted, that the United States has now surpassed all other countries with the most infected individuals who have tested positive for COVID-19. Over 85,000 people in the USA have the coronavirus, as presented by data by John Hopkins University on March 26, 2020 (US infections 85,840).SB
Sources: US Labor Dept; John Hopkins University Covid-19 Data
#TheCastPodcast last episode of the 2019 year. Your hosts Sammy BE @EcoFireTV, Luisa L @LuisaModels & Jon “Da Don” Sterling @TheDramaBlock, closed 2019 very strong of course; 2020 will be way stronger.
The crew wrapped up the greatest moments in 2019, as well as accommodating outstanding guests, who dropped gems and jewels about their $$$$money moves$$$, in their respective businesses plus MORE FUN…. 2020 we R just getting started…. 2020 Let’s Go Get Em’……..
Billionaire Democratic presidential candidate Michael Bloomberg, will be unveiling tax proposals and tax plans that will aim at wealthy Americans.
Mr. Bloomberg will be instituting a five percent surtax to incomes of five million and more, while also increasing the capital gains, and corporate gains.
Mr. Bloomberg wants to expand healthcare, public housing, education and infrastructure. The tax plans outlined by Mayor Bloomberg indicates that it could raise over $5 trillion dollars, in over a decade. Estimates have projected to go up and down depending on how reliant the calculations are.
Bloomberg’s plan would bring back the personal income tax to 39.6% (currently reduced to 37%). Capital gains on personal income over $1 million dollars would be tax, and 5% surtax on incomes over $5 million dollar, while also changing the estate tax as well. Corporate taxes will increase from 21% to 28%. -SB
1) Amazon it pushing hard to establish its Kuiper broadband internet access satellite system. The planned satellite system will have 3,236 satellites in polar orbits to form a mega-constellation system in low earth orbit that will provide broadband internet service for billions of people around the world who are currently being under served. Amazon is pushing the FCC for expeditious granting of application for system. SpaceX and One Web have also started their planned mega-constellation satellite system.
2) North Korea’s economy is largely hidden from the world because it’s one of the most secretive nations. But it’s known the economy is struggling because of its isolationism, where the average worker makes less than $2,000 a year with much of its population undernourished. Citizens are paying as much as $12,000 to defect.
3) Boeing Aircraft has secured over $12 billion dollars to finance its 737 MAX crisis. Loans from over a dozen banks will shore up Boeing’s balance sheet until deliveries of its 737 MAX can resume with resulting revenues coming in. This is at least $2 billion dollars more than Boeing originally sought, making the loans a vote of confidence of its future. The loan is a delayed-draw loan, meaning the company may not use it immediately.
4) Stock market closings for – 28 JAN 20: Markets rebound from threat of coronavirus.
Dow 28,722.85 up 187.05 Nasdaq 9,269.68 up 130.37 S&P 500 3,276.24 up 32.61