Alibaba Holdings LTD (BABA) surpassed earnings expectations. The Asian e-commerce giant, stated that their retail business and their cloud business, were huge components in their earnings viability, while also beating estimates.
Their retail commerce business (BABA) spurned over $14 billion USD in revenue, while thier (BABA) cloud business did over $1 billion USD in revenue. At the end of the Friday Oct. 31, 2019 business day, BABA’s stock was up over 3%. Not a bad day for a major Chinese e-commerce business..SB
On Monday, January 28, 2019, the United States Attorney General Department, indicted Hauwei Technologies with 13 counts of banking fraud, wire transfer fraud, and violating Iranian sanctions imposed by the United States.
Hauwei Technologies Ltd. (the biggest global telecom equipment maker and provider) have been accused of misleading authorities of its relationship with subsidiary banks that had connections with Iran, as well as stealing technology trade secrets for USA companies, such as T-Mobile. The charges were filed in the state of Washington.
US authorities have accused the CFO of Hauwei, Weng Wanzhau as being the mastermind of the schemes that have played out in the federal indictment charges.
Weng & Hauwei Technologies Ltd deny the charges put forth by the US. -SB
Wrap up of 2018 episode, Sammy BE (Bizman Bassey), James Lyman &
on the boards, magic Jon Don Sterling. The trio discussed topics and
issues ranging from economy, business, trade, and a little politics, for
the year of 2018.
Sammy and James spoke on the trade policies
with China, the new USMCA Trade Agreement between USA, Mexico, &
Canada (replacing of NAFTA). Problems that may have handicapped General
Motors (GM); Saudi Arabia policy & reporter death of Jamal
Khashoggi. The gentlemen ended of the 2018 year speaking of the
improving US economy (GDP) and the new Congress (Democratic House,
Republican led Senate), that will be entering in January 2019.
This a mouthful that you don’t want to miss, ending of 2018 wrap up episode…. Happy New Year… See You In 2019
Sears looks as if it will be staring down the eyes of bankruptcy. They have hired M-III Partners to assist in the bankruptcy filings; that is expected to be filed later this week. The end of the second week of October.
Sears has been losing money with their brick and mortar businesses in recent years, especially as e-commerce businesses such as Amazon have been profiting from online sales for a long time.
As E-commerce ramps up sales as the holiday season approaches, Sears has needed to reevaluate their business models, while at the same time waving the white flag. -SB
United States Energy Secretary Rick Perry applauded Mexico’s incoming administration for ending gasoline and diesel imports. The imports come directly from the United States and the effects will prove profitable for Mexico, long term.
Mr. Lopez Labrador, Mexico’s incoming President, has indicated he was would end foreign imports to Mexico within the next 3 years. Refiners in the U.S. have invested billions of capital in Mexico and it has been prosperous for both countries.
Energy trading between United States and Mexico has been advantageous between both countries. -SB
New article posted below titled, “Millennials and China’s Drive for Oil”
1) World stock markets continue to slid down to hit a new one month low, in response to Turkey’s continuing currency crisis. Fears arise over Turkey’s continual currency slide downwards, as well as Turkey’s move towards an authoritarian government who is increasingly moving away from other western nations while moving closer to Russia
2) President Trump signed the John McCain defense bill which will bring massive spending for defense and a building up of the military. This infusion of government spending should prove a stimulus to the economy.
3) The grocery store chain Aldi announces a major U.S. Expansion by expanding its online grocery services and launching curbside pickup. Aldi started testing online grocery delivery in select cities last year through a partnership with Instacart.
4) 13 AUG 18 Stock market closings:
Dow 25,187.70 down 125.44
Nasdaq 7,819.71 down 19.40
S&P 500 2,821.93 down 11.35
Mexico has imposed tariffs on American imports such as pork, apples, grapes, cheese and steel. This is in connection to the tariffs President Trump imposed on steel and aluminum, which affects NAFTA countries Mexico and Canada.
The effects will alter the relationship on NAFTA; one which President Trump has already expressed is in unfair to American workers. He has stated he either wants to renegotiate a fair agreement amongst the NAFTA countries (USA, Canada, Mexico) or independently negotiate with Canada and Mexico, as separate individual countries. Mexico and Canada have both denounced such a proposal by Trump.
This is coming at a critical time for NAFTA, as Mexico gears for presidential elections on July 1, 2018 and US congressional midterm elections are in November 2018. -SB