1) The IMF (International Monetary Fund) has reduced their forecasted for world economic growth from 3.5% to 3.3%, which is the third reduction since last October. It forecasted 2.3% growth for the US economy, as well as reduced growth forecast for Germany and Great Britain.
2) Walmart is rolling out thousands of robots for use in their retail stores across America. These robots will automatically scan shelves and clean floors. With a million employees, Walmart is seeking ways to keep labor cost down.
3) Bank of America is raising it’s minimum wage to $20 an hour over the next two years. Starting the first of May, the rate will increase to $17 per hour. The bank has 205,000 employees.
4) 9 APR 19 Stock market closings: Markets pulled down by industrial sector.
Dow 26,150.58 down 190.44 Nasdaq 7,909.28 down 44.61 S&P 500 2,878.20 down 17.57
1) Walmart has plans to compete with Amazon in the future, by using Jetblack personal shopping service to train AI systems. Jetblack has an army of human agents that can use in training Walmart’s AI system which can power an automatic personal shipping service in the next 5 to 7 years. This makes Jetblack more of a research facility.
2) The Chinese telecom company Tencent’s stock is down after the Chinese government imposed regulations designed to limit online games. They have suffered their largest decline in ten years with a 32% declined. Since smart phones is the biggest part of their business, this drop wiped off $100 billion dollars of book value.
3) The Prime Minister of Britain is trying to obtain a short extension of Brexit by going to Brussels. The major members of the European Union said they would endorse a short extension, but only if the British Parliament approves the exit plan. But British political parties are splintered over what should be done about Brexit.
4) 21 MAR 19 Stock market closings:
Dow 25,962.51 up 216.84 Nasdaq 7,838.96 up 109.99 S&P 500 2,854.88 up 30.65
1) Brexit, now on going for 2 ½ years, is dividing the British people in strife, the debate impacting and dividing family relationships across the country. The web site eHarmony reports one and a half million relationships have broken up over Brexit.
2) American retail workers face mass layoffs. In addition to the traditional after Christmas layoffs of seasonal workers, many permanent workers face significant reduction in work hours per week, if not actual layoffs in retail giants such as Amazon, Target and Walmart.
3) Stocks close lower because of Caterpillar and Nvidia announcing significantly lower profits than was expected. Caterpillar was down 9% and Nvida down 13.8%, with expectations of further poor performance in 2019. Caterpillar is considered a economic bellwether, and together with the IMF, is warning of international economies slowing down faster than expected.
4) 28 JAN 19 Stock market closing:
Dow 24,528.22 down 208.98 Nasdaq 7,085.68 down 79.18 S&P 500 2,643.85 down 20.91
Walmart will be hiring close to 1,000 new truck drivers in 2019. The truckers who are seasoned throughout the year, being apart of the Walmart trucking program. Walmart drivers (whom have senority) will be attaining an increase in base salary to $90,000.
In 2018 Walmart hired 1,400 truck drivers, to stream line their trucking business. Their truck driver turnover is one of the lowest in the industry and Walmart has indicated they want it to stay that way. To increase the recruits of truck drivers, Walmart has upped the ante by improving base salary, vacation days, and onboarding systems to assist their drivers better on the job,
Truck drivers shortages seems to be the main concern in 2019, data by the American Trade Association (ATA) indicates truck drivers for the past 20 years have been hovering around the 3 million to the 3.5 million drivers mark in the USA. There has been a short fall of drivers, even though freight volume has will be increasing to over 35%, within the next decade. -SB
Mr. Jeff Bezos has accomplished the unimaginable; well now the unimaginable is now manageable. He is now the richest person in modern day times, this is according to Bloomberg Billionaire Index.
Bloomberg uses inflation based adjustments in their analysis to estimate Bezos’ net worth topping $150 billion. The Amazon mogul so far, is the richest person on earth by far, not since 1982 has anyone accumulated as much in wealth as Jeff. 1982 is when Forbes announced its first richest in the world list).
The richest family however seems to be the Walton family, the dynasty of the Walmart brand. They have accumulated a fortune of over $151 billion collectively.
Bet that on your pretty bottom dollar!!!!!!!!!!!! -SB
Jeff Bezos and Amazon (AMZN) are on a buying up everything and anything run. Amazon (AMZN) will be purchasing the healthy food store chain Wholefoods Inc (WFM), which practically is a nationwide conglomerate in its own right.
The sale now puts Amazon (AMZN) as owners of hundreds of Whole Foods (WFM) stores and subsidiaries around the country, and spearheading them with a potential rivalry with heavyweight retail chain Walmart Stores Inc (WMT). The current CEO of Whole Foods Market Inc ( John Mackey), will remain as Whole Foods (WMT) CEO, after the Amazon (AMZN) buyout. The sale of Whole Foods (WMT) increased the company’s market share by 21% on the NASDAQ boards, on Friday June 16, 2017.
Whole Foods Market Inc (WMT) has been suffering as of late and the buyout to Amazon (AMZN) seemed a natural fit for CEO Mackey, who was fighting internal control of the company from activist investors. -SB