1) Another drop in applications for unemployment benefits is giving hope for the economy. For the week ending 1 August, there were 1.19 million jobless claims, down by 249,000 claims. Total unemployment is now at 16.1 million, the lowest since April. But even with continual drops, the claims are still five times the pre-crisis levels. More than decreasing claims is needed for the economy to improve, for much more hiring is required. There are fears of conditions improving so sluggishly, that the effects of the crisis become increasingly permanent. With the resurgence of the pandemic, there are signs of the economy stalling in what is already a fragile economy.
2) The Covid-19 crisis is fueling the need for high speed internet access, and rural America is responding with their electric and telephone co-ops using loans from the federal government. Subscribers are getting speeds up to 1 gigabit per second, with some planning for speeds up to 10 gigabits per second. Rural areas have the duel problem of low population densities and long distances, so its not economically feasible for private companies to install systems. The only alternative is satellite internet systems.
3) The Bank of England is warning of the potential risk of what’s called the ‘shadow banks’ in amplifying the volatility of unstable economies. Funds in investments like pension funds, investment funds like real estate investment trusts and money market funds are increasingly absorbing the cash once kept in banks, but are not as secure in times of crisis as traditional banks. This makes it harder for businesses to access their money when needed most. The non-banks impact in a financial turmoil is being assessed, lead by the Bank of England.
4) Stock market closings for – 6 AUG 20:
Dow 27,386.98 up 185.46 Nasdaq 11,108.07 up 109.67 S&P 500 3,349.16 up 21.39
Say it ain’t so….. Well there is a lot of chit chat and jibber jabber that Mr. or Ms. Internet Explorer (however you want to look at it); Microsoft Inc is exploring acquiring the famous social media app Tik Tok from China based ByteDance.
Talks began as the White House and President Trump are seriously considering banning the mega app, for US national security protocols and reasons. Analysts have indicated that Microsoft buying Tik Tok would be beneficial to the software conglomerate; allowing it to enter the social media space which Microsoft has dabbled in the past.
Experts have indicated that Tik Tok’s valuation seems to be exploding toward the upside and the purchase of Tik Tok by Microsoft or another tech company would make a lot of $en$e and $cent$. -SB
1) Online grocery shopping continues to reach higher numbers, as Americans show little inclination to return to the stores. Grocery sales hit a record $7.2 billion dollars in June, up 9% from May. There are now 45.6 million households using online grocery pickup and delivery services for a larger portion of their grocery needs. The coronavirus crisis has cause drastic increases in grocery shopping online. People are now using online for buying a few items instead of just for their major shopping trips.
2) Seattle has passed a payroll tax which targets large businesses, called the JumpStart Tax. This tax is a tiered system of taxation with the highest tax levels for companies with annual payroll expenses of more than $1 billion dollars. The tax also is grated for individual income levels starting at amounts over $150,000. The prime target for the tax is Amazon, who is expected to accelerate its move to secure office space outside of Seattle. Amazon has an expansive Seattle footprint, but in recent years has moved to establish a presence in areas outside of the city. There are fears that the tax will pin Seattle’s economic future on local businesses remaining strong.
3) New York City plans to invest $157 million dollars to expand high speed internet service to low income residents as part of its plan to offer universal broadband service to New Yorkers. To pay for the expansion, the internet service providers would be charged for using the city’s infrastructure. The financially strapped city would fund the expansion by diverting $87 million from the police budget, which is being cut. But for the long run, the city is seeking state legislation to require internet service companies to pay for the use of the infrastructure they used to do business.
4) Stock market closings for – 7 JUL 20:
Dow 25,890.18 down 396.85 Nasdaq 10,343.89 down 89.76 S&P 500 3,145.32 down 34.40
trio is back with another one as we enter the spring season 2020. You
guys and gals know what it is, more heat rock content for your dome.
was a pleasure to have as our guest a man who is creating noise and
alarms in the comedy game, he has been a featured stand up comic on Late
Night With Seth Myers, and also has been on the NYC comedy circuit,
lacing the circuit with great comedy. He goes by the name of Jonathan
Jon came on the #TheCast to discuss comedy, entertainment, his come up story and more. This is an episode you must tune in to #TheCast.
“WE ALL HAVE A VOICE & A OPINION. IT’S JUST HOW U USE YOURS”…..
1) The devastation that the coronavirus fears has wrought on Europe’s tourist industry is brought into glaring focus in front of the famous Mona Lisa painting in Paris. Where there would normally be a continuous surge of admiring people to view the art classic, now just vacant space. The same at St. Peter’s Basilica in Rome, the normally long lines of waiting people to get in, are also gone. The drop in tourism is costing the EU (European Union) $1.1 billion dollars a month, just when the high season is getting under way. Expectations are that it will only get worst as the year progresses.
2) General Motors is making an all out effort to dominate the EV (Electric Vehicle) market and in the process beat Tesla at its own game. GM has developed new battery modules called Ultium that is said to reduce the cost of batteries and therefore make more affordable EVs. Plans are to offer 20 new EVs by 2023, both in America and China, with marketing plans to sell one million electric cars in the next five years. However, the UAW is concerned that EVs will hurt the union because they require less manpower to assemble. Presently, GM holds over 3,000 patents on electric automobile design.
3) Seattle area school district has closed down its 33 schools of more than 23 thousand kids for up to two weeks due to the coronavirus threat. These students will use online teaching during this time through Google Apps for Education. Students needing a device or internet connection will be provided with one. Teaching staff have been provided with a one day instruction on using the apps and how to monitor the progress of their students. ATS (Automated Teaching Systems) has been on the cusp of revolutionizing American schools, and the coronavirus may provide the impetus to open the market to wide spread commercialization.
4) Stock market closings for – 5 MAR 20: The instability of the markets continue with wild swings of the trading indexes.
Dow 26,121.28 down 969.58 Nasdaq 8,738.60 down 279.49 S&P 500 3,023.94 down 106.18
#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’……..
1) All ready shaken by the trade war, China is now being racked by the coronavirus, with fears of the virus pushing the Chinese markets down by $393 billion dollars on the first day of trading since the Lunar New Year. This is an 8% drop on the Shanghai composite index, the biggest drop in more than four years. This is despite the biggest cash injection of China’s financial system since 2004. Additionally, commodities contracts have all posted sharp drops, a strong indication of an economic slowdown.
2) The shopping malls are dying as shopping habits of consumers change over to the internet. It’s estimated that 25% of American malls will shut their doors by 2022, and more of the 9,300 retail stores that closed in 2019 were in malls. Mall owners are searching for ways to halt the trend of shrinking retailing in malls, including buying major retail companies such as Forever 21 and Aeropostale.
3) As traditional brick-and-mortar stores continue its slide downwards, a number of companies are considered at risk of bankruptcy this next year. Stores like Neiman Marcus ply their way in red ink, including J. Crew, Francesca’s, Rite Aid, JCPenny, Pier 1, Dressbarn, Destination Maternity, Men’s Wearhouse and Stein Mart. Companies heavy into cloths and fashion ware are the ones struggling the most to avoid the bankruptcy courts.
4) Stock market closings for – 3 FEB 20:
Dow 28,399.81 up 143.78 Nasdaq 9,273.40 up 122.47 S&P 500 3,248.92 up 23.40
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
1) The poor showings of two major movies this last weekend shows the risk Hollywood faces with new movie productions. The final installment of Star Wars, The Rise of Skywalker and Cats both have fallen short of predicted first week ticket sales, highlighting the risk associated with cinema productions. The theatrical market is dominated by a few blockbuster movies at the expense of almost everything else, leaving theater owners struggling for productions to draw needed customers.
2) Holiday shopping set records over the weekend with Super Saturday sales reaching $34.4 billion dollars making it the biggest single day in U.S. retail history. Super Saturday topped Black Friday’s $31.2 billion dollars by 10%. This is despite foot traffic in the malls being down, indicating people are spending more. Next question is – will this stellar momentum lead to sustained economic growth in 2020.
3) The internet music downloading site Spotify is expanding into the podcasts market. The company is spending big to lock down exclusive shows and introduce several new features for users. Already a success now making a profit with music, Spotify is determined to be a power player in the world of podcasts, considering podcast to be a great complementary product. Spotify has announced it has acquired Gimlet Media and Anchor production companies to strengthen its podcast abilities.
4) Stock market closings for – 23 DEC 19:
Dow 28,551.53 up 96.44 Nasdaq 8,945.65 up 20.69 S&P 500 3,224.01 up 2.79