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
General Charles “CQ” Brown has done it…. He is the first African American US Air Force chief of staff, and the first African American to lead a military branch in the United States. Nominated by President Trump in March 2020. He is second African American to join the US Joint Chiefs of Staff (after former Sec. of State General Colin Powell). He was confirmed by the Senate with a 98-0 vote, on June 9, 2020 (Wednesday).
General Brown has decorated accomplishments to him. He is a 4 star general; and until recently he lead the Air Force in the pacific. General Brown started his career in the Air Force in 1984, as F-16 fighter pilot and instructor. He served in duties around the globe particularly in Europe, Asia and the Middle East. -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
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