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Archive for 30. März 2018

Big Tech’s Decline Hits a Heavily Owned Stock Sector

Posted by hkarner - 30. März 2018

Date: 29-03-2018
Source: The Wall Street Journal

Investors piled into hot technology stocks last year and reaped outsized gains. Now the sector’s sharp reversal stands to have the opposite effect.

High-flying companies including Microsoft Corp., Alphabet Inc., and Facebook Inc., were among the most widely held last year by institutional equity strategies, such as pension funds and endowments, according to eVestment data. In the final three months of 2017, more than 22% of such portfolios held Microsoft, up from less than 21% a year earlier, making the technology giant the most widely held.

Alphabet, the second most owned company, was in nearly 22% of portfolios in the fourth quarter, up from less than 21% a year ago. And Facebook, the sixth most widely held company, was in 16% of portfolios, versus 14% a year earlier, the eVestment data show. Apple Inc. and Amazon.com Inc., technically a consumer stock, also cracked the top 10 in ownership breadth. Den Rest des Beitrags lesen »

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Trump Reportedly Wants to Go After Amazon–and Its Stock Tanked

Posted by hkarner - 30. März 2018

Date: 29-03-2018
Source: The Wall Street Journal

Shares of Amazon.com slid Wednesday amid speculation that the White House wants to clamp down on the e-commerce giant’s growing dominance.

Amazon shares ended the day down 4.4% at $1431.42 after falling more than 7% earlier in the day.

The stock decline came after Axios reported President Donald Trump is “obsessed with Amazon” and has discussed changing Amazon’s tax treatment due to concerns about how the company is impacting mom-and-pop businesses. Axios also reported that Mr. Trump has questioned “if there may be any way to go after Amazon with antitrust or competition law.”

In a briefing on Wednesday, White House press secretary Sarah Huckabee Sanders said that Mr. Trump wants a “a level playing field “for all businesses but noted “there aren’t any specific policies on the table at this time.” An Amazon spokesman declined to comment.

It isn’t the first time the company has faced Mr. Trump’s criticism. In December, Mr. Trump called for the U.S. Postal Service to charge Amazon more to deliver its packages.

He has also criticized the company for how it collects sales tax on customers’ purchases.

Wednesday’s report adds to uncertainty surrounding the tech sector as investors also question whether a growing controversy over Facebook handling of user data will lead to more regulation for the industry. Facebook’s shares are down 14% this month, while Alphabet has fallen 8.9%.  The big rally in tech shares in recent years has been a key driver of the stock bull-market; their declines are now dragging down the broader market. Den Rest des Beitrags lesen »

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Chugging along: India’s economy is back on track. Can it pick up speed?

Posted by hkarner - 30. März 2018

Date: 28-03-2018
Source: The Economist

Narendra Modi needs to pass further reforms if India is to fulfil its potential

IT IS easy to be awed by the Indian railway network. The 23m passengers it carries daily travel, in total, over ten times the distance to the sun and back. It is just as easy to find it unimpressive. Delays are frequent and trains antiquated. It takes 14 hours to get from India’s capital, Delhi, to its commercial hub, Mumbai. The equivalent trip in China—from Beijing to Shanghai, a similar distance—takes just over four hours.

Similarly, India’s economy can be seen in two lights. Its long-term growth rate of 7% a year has proved far more dependable than the rail timetable. GDP has doubled twice in the past two decades. Yet deep poverty still lingers and jobs are scarce. And Indian growth has been left in the dust by the Chinese express (see chart). Den Rest des Beitrags lesen »

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Europe is sending African migrants home. Will they stay?

Posted by hkarner - 30. März 2018

Date: 28-03-2018
Source: The Economist

Facing horrible conditions in Libya, many Africans are accepting free flights home. But some are ashamed to return

ONCE considered the smartest hangout in town, the Benin Plaza motel in southern Nigeria’s Benin City has seen better days. Its chalet-style rooms are normally empty, and the Moat Bar, which promises “groovy nights and exotic cocktails”, has fallen into disrepair.

For the Plaza’s recent influx of guests, though, the motel is the first comfortable night they have had in rather a long time. Requisitioned by the government for migrants repatriated from Libya, it offers new arrivals free accommodation for a few days while they find their feet.

The repatriation programme is part of a joint UN and EU effort to stem the flow of migrants to Europe. It encourages those who have made it to Libya to go home voluntarily, rather than risk a rickety boat across the Mediterranean. People who turn back get a free flight—cutting out the need for a perilous return journey across the Sahara. Den Rest des Beitrags lesen »

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White, right and pretentious

Posted by hkarner - 30. März 2018

Date: 28-03-2018
Source: The Economist

How “identitarian” politics is changing Europe

Having learned from the identity politics of the left, right-wingers are shaping the conversation

THE Flemish city of Ghent is so packed with medieval antiquities that it is in no danger of forgetting its history. Nonetheless, cultural identity is a burning political issue there. On March 22nd marchers led by a conservative Flemish student group, the Nationalist Student Union (NSV), filed into the square of the Cathedral of St Bavo. The march was a protest over the large number of murders of white South African farmers by blacks. It was also part of a growing movement led by young European activists aimed at reshaping identity politics, long the province of the left, into a right-wing cause.

White Afrikaners, like Flemings, speak a form of Dutch, so there is a cultural bond. The NSV, founded in 1976 as part of the Flemish independence movement, wanted to show solidarity with them, said Bavo Janssens, one of the group’s leaders. Behind him flew flags bearing the Flemish lion and a banner reading “ANC murderers”. In a jab at multiculturalism everywhere, Mr Janssens said the Belgian media were too politically correct to admit that “the rainbow nation of Nelson Mandela has failed.” Den Rest des Beitrags lesen »

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