1) A year ago, Boeing Aircraft had record revenues of over $100 billion dollars, anticipating delivery of record number of aircraft including the 737 MAX jetliner. With the grounding of its 737 MAX, that has been reversed with Boeing posting losses from massive pay outs as well as lost revenues as undelivered aircraft sit waiting in its parking lots. Boeing may ultimately have $20 billion dollars in cost from the 737 MAX problem. Boeing’s problems has been a bonus for China’s airline manufacturing giving them a big advantage to gain market share.
2) India is resisting Amazon’s efforts to expand into India with an investment of $1 billion dollars, fearful of predatory business practices. The investment would bring Amazon India investment up to $6.5 billion dollars. But Amazon is meeting growing resistance, first with an Indian anti-trust investigation by Indian regulators, then protest from a confederation of Indian traders and organizations.
3) As hiring surged in November, the employment market got tighter, job openings plunged to their lowest level in nearly two years. The total vacancies is down by 561,000 to 6.8 million for the month. This is the lowest since February of 2018, the trend telling the economy has finally reached full employment. The biggest drops came in retail and construction.
4) Stock market closings for – 17 JAN 20: All three exchanges closed on record highs.
Dow 29,348.10 up 50.46
Nasdaq 9,388.94 up 31.81
S&P 500 3,329.62 up 12.81
10 Year Yield: up at 1.84%
Oil: up at $58.81
BY: Economic & Finance Report
The hotel industry is going full force at town and city regulators around the US, to have individuals who are registered with AirBnB to attain licenses that are mandated in city and town laws. Many AirBnB participants seem to be able to skirt or skirmish from attaining licenses to be able to rent or sublet their apartments, condos, coops, room residences, because they are simply not registering for the applicable licenses.
Many homeowners who use AirBNB indicate they do not need licenses because most times they are only renting out a room or a residence less then the time needed legally to adhere to a license within city limits.
The license that is needed or at issue is what is called a vacation rental license which allows most rentors to rent or lease out their property for a few years. Many residents don’t apply for the license which has become a problem to the hotel industry in many towns and cities, because they believe fraudulent behavior is going on.
Many hotels have to obtain and sustain licenses and they believe companies such as AirBNB are hurting the industry and the hospitality sector as a whole with what is happening. City and town regulators have been watching these developments unfold but it has been difficult to actually go after AirBNB hosts who do not follow the law and obtain the vacation rental licenses, because of how complex the situation is in general.
BY: ECONOMIC & FINANCE REPORT
Potential gossip talks, suggest that Samsung is eyeing Blackberry for 7-8 billion dollar buyout. Executives from both sides met last week about this latest mobile technology acquisition.
Executives from Blackberry believe though for the deal to actually go through the # over $7 billion has to be initiated… Blackberry believes the company’s value is way more then the $7 billion dollars offered by any company, and they have turned down many deals within that price range as well.
The deal could come under scrutiny from investors, shareholders, and US regulators alike… Blackberry investors and shareholders deem the deal to be unreasonably too low an offer as indicated, and regulators would deem the deal doomed because Samsung does not have majority control as far as price shares in the company. So there are philosophical differences on all sides.
Though, we do not know all details of such a merger between both companies, and if it would even pan out, Samsung and Blackberry have engaged in a security pact between each other, which originated this past November. The security partnership aligns Blackberry’s security platform with Samsung’s security software…