Top Tech Stocks to Buy in October and Hold for Long-Term Growth

Let's explore two great large-cap technology stocks for investors to consider buying in October at levels that might look like bargains in the not-too-distant future. Now might not be time to call a market bottom, with inflation still clocking in at 40-year highs and the Fed determined to do all it can to drag prices down. Thankfully, investors who plan to own stocks for years to come don’t need to pinpoint an exact bottom and should instead consider slowly starting positions in blue-chip stocks with great fundamentals that should look like steals at these levels down the road.  The S&P 500 is trading at new 2022 lows, with it at levels last seen in late November of 2020. Meanwhile, the Nasdaq is down over 6% in the past two years to trade where it was in the summer of 2020. The market could continue to slide. But investors should take solace in the fact that higher interest rates and soaring inflation are already showing up in corporate earnings outlooks.Wall Street had been waiting for the current economic turmoil to take its toll on sales and, more importantly, earnings before they consider nibbling at stocks again. With the heart of Q3 earnings season set to begin in the middle of October and September’s CPI data due out on Oct. 13, the market might not have to wait too much longer for an even clearer picture.Image Source: Zacks Investment ResearchEarnings and interest rates drive stock prices and the more clarity Wall Street gains on those fronts, the better. The outlook for Q3 FY22 earnings and full-year fiscal 2023 have already dropped significantly and the 10-year and two-year Treasury yields are responding to the Fed’s rate hikes and projected course of action.The major money managers are rather good at pricing in the future into stock prices, which is part of the reason why Wall Street is often ahead of Main Street, as we saw during the covid comeback and the subsequent beating growth and tech stocks started to take in late 2021 as investors realized the Fed would have to raise rates to cool the economy.The best investors use bear markets and major periods of panic to start positions in their favorite stocks. Just remember the average investor is often the most bullish to buy stocks near what turns out to be the tops and terrified to buy, with a penchant to panic sell, at what might one day turn out to be near the lows. Let’s explore two great large-cap technology stocks for investors to consider buying in October at levels that might look like bargains in the not-too-distant future.Adobe Inc. ADBE Adobe might be the best of the rest when it comes to big tech. Though it is not in the same rarefied air as Apple and Microsoft, Adobe is a champion of a vital segment of the software market with an impressive subscription-based business model that’s helped it post between 15% to 25% revenue growth for seven-straight years. That kind of growth is highly impressive for a company that went public in the mid-1980s.Adobe’s portfolio of subscription software includes Photoshop, Premiere Pro, and many others for a total of nearly 30 rather unique offerings. Its products help users, from Hollywood filmmakers to students, edit videos and images, create artwork and books, and do almost anything else in the larger creative/design world that one might imagine can be done on a computer, tablet, or smartphone.Image Source: Zacks Investment ResearchAdobe’s documents and business portfolio ranges broadly from PDFs and e-signatures to marketing, commerce, and workflow digitalization. And it’s prepared to expand its reach through its planned, roughly $20 billion cash and stock deal to buy privately held software firm Figma. The little-known company specializes in helping digital creators collaborate through shared software. Figma’s offerings should integrate well into Adobe’s portfolio and provide real benefits in a world where work gets done on individual computers even when people are in the same office.Wall Street is worried that Adobe is overpaying for Figma and sold the stock heavily when it announced the deal alongside its Q3 earnings release on Sept. 15. It is possible ADBE is paying too much at a time when growth-focused tech valuations have been crushed. But it’s difficult to argue with Adobe’s track record and its outlook in an increasingly crowded software market.The post-announcement drop helps set up a potentially attractive entry point for patient investors, with ADBE shares down roughly 30%. The recent decline is part of a larger recalibration of Adobe and other growth names to account for higher interest rates. ADBE stock has fallen 60% from its peaks to below its covid-lows.  Image Source: Zacks Investment ResearchADBE’s falling price, coupled with its strong earnings outlook, has it trading where it was before it changed to a subscription model roughly a decade ago at 22.3X forward earnings. Plus, ADBE’s earnings estimates have largely held up in the face of the economic slowdown causing Micron and many others to dramatically lower their guidance.Adobe’s revenue is projected to jump 12% in 2022 and another 13% in 2023 to hit nearly $20 billion to help lift its adjusted EPS by 9% and 14%, respectively. ADBE currently lands a Zacks Rank #3 (Hold), alongside “A” grades for Growth and Momentum in our Style Scores system.Analog Devices, Inc. ADI Semiconductor maker Analog Devices expanded its reach to help it challenge the biggest player in the analog space, Texas Instruments TXN, when it completed its acquisition of Maxim Integrated in August 2021. Analog semiconductors are on the less flashy side of the booming chip industry that will remain the backbone of technology and arguably the entire economy for the foreseeable future.  Analog semiconductors play crucial roles in countless devices and industries that next-generation digital semiconductors cannot meet. Analog chips help handle information not easily understood with 1s and 0s, such as temperature, speed, sound, electrical currents, and much more.Image Source: Zacks Investment ResearchAnalog Devices boasts around 125K customers globally for its over 75K products, which helps provide diversification in a time of economic uncertainty, which is hitting the cyclical chip sector particularly hard. ADI executives project the firm will benefit from continued expansion within six secular growth segments, from connectivity & data centers and digital healthcare to industrial 4.0 and automotive ecosystems.Analog Devices’ revenue and adjusted earnings both climbed by roughly 31% in fiscal 2021, driven in part by its Maxim Integrated deal. Current Zacks estimates call for ADI’s revenue to climb another 63% in FY22 to help lift its adjusted earnings by 46%. ADI is expected to grow both its top and bottom lines next year as well, even as it comes up again difficult to compete against periods.ADI shares have held up far better than its Zacks Semiconductor industry, down 17% in the past 12 months vs. 32%. ADI trades around where it was in December 2020 at roughly $140 per share. And its current Zacks consensus price target offers 38% upside to its closing levels Friday. Analog Devices is now trading right near its decade-long lows at 14.9X forward earnings.Image Source: Zacks Investment ResearchEarlier this year, Analog Devices lifted its dividend by 10% for its 19th raise in the last 18 years. ADI’s dividend yields 2.2% right now to top many of its peers and the S&P 500’s 1.7%. The company boasts a solid history of stock buybacks, supported by a solid balance sheet. On top of that, 11 of the 16 brokerage recommendations Zacks has are “Strong Buy,” with nothing below a “Hold.” And now might be a solid time to add this chip stock that’s holding up somewhat well as semiconductor names tumble. This Little-Known Semiconductor Stock Could Be Your Portfolio’s Hedge Against Inflation Everyone uses semiconductors. But only a small number of people know what they are and what they do. If you use a smartphone, computer, microwave, digital camera or refrigerator (and that’s just the tip of the iceberg), you have a need for semiconductors. That’s why their importance can’t be overstated and their disruption in the supply chain has such a global effect. But every cloud has a silver lining. Shockwaves to the international supply chain from the global pandemic have unearthed a tremendous opportunity for investors. And today, Zacks' leading stock strategist is revealing the one semiconductor stock that stands to gain the most in a new FREE report. It's yours at no cost and with no obligation.>>Yes, I Want to Help Protect My Portfolio During the RecessionWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Analog Devices, Inc. (ADI): Free Stock Analysis Report Texas Instruments Incorporated (TXN): Free Stock Analysis Report Adobe Inc. (ADBE): Free Stock Analysis Report To read this article on click here. Zacks Investment Research.....»»

Category: topSource: zacks2 min. ago Related News

Don"t Panic and Look to These 2 Big Tech Stocks After the Selloff

Warren Buffet's mentor Benjamin Graham is famous for insisting that investors look at large declines in the stock market as a discount or sale, rather than panic. Here's a look at two quality tech stocks that have a chance to go back to their previous highs once macroeconomic conditions stabilize. Investors may be concerned as broader markets continue to plummet with economic uncertainty stemming from rising inflation and higher interest rates. Although there may still be risk ahead, investors might want to begin pondering Warren Buffett’s most famous investment strategy; be greedy when others are fearful.Of course, the other half of this famous quote is to be fearful when others are greedy, but opportunities are starting to brew. In particular, big tech stocks are beginning to present solid opportunities for patient investors to start building positions.Buffet’s mentor Benjamin Graham is famous for insisting that investors look at large declines in the stock market as a discount or sale, rather than panic.Image Source: Zacks Investment ResearchAs we can see from the chart above, the Nasdaq is up +800% over the last 20 years. There is a clear path upward after the financial crisis in 2008. Surely investors were panicking during these times, but it was symbolic of the discount that Graham often referred to.Let’s take a look at two quality tech stocks that have a chance to go back to their previous highs once macroeconomic conditions stabilize.Amazon AMZN After a recent 20-for-1 stock split, Amazon is trading at its most affordable level in over a decade in terms of the face value of its stock price. Amazon’s stock had routinely traded over $2,000 a share. Investors can now buy the stock for $113 a share, which is also 39% beneath its 52-week highs.AMZN currently sports a Zacks Rank #3 (Hold) and inflation may continue taking its toll on consumer e-commerce spending. However, Amazon is still a very viable investment for growth. According to Zacks estimates, Amazon’s earnings are expected to drop -93% this year but fiscal 2023 earnings are expected to rebound and climb an impressive 956% at $2.21 a share.This is also back to its 2020 levels when the company saw a boost in e-commerce spending during Covid-19. Top line growth is expected as well, with sales set to climb 11% this year and another 15% in FY23 to $602.52 billion. Amazon’s top line growth from FY21 to FY23 is more than what many of the largest companies make in a year. In comparison, Amazon's sales growth during this time span is larger than Target's TGT annual sales. Year to date AMZN is down -32% to underperform the S&P 500’s -24%. However, this is on par with the Nasdaq’s -32% drop. Amazon’s peer group has fallen by 40%. With that being said, AMZN has climbed 138% in the last five years.Image Source: Zacks Investment ResearchEven better, over the last 10 years, AMZN is up a staggering +787%, crushing the benchmark’s +167%.Plus, AMZN is trading well off its decade-long highs of 8,055.3X and getting closer to the median of 132.6X. Amazon’s price to sales is currently at 2.4X and getting close to the optimum level of less than 2X. The industry average P/S is 1.2X.However, Amazon’s cloud platform AWS has continued to grow most recently contributing to $5.72 billion in operating income during the second quarter, up 36% year over year. Cloud, along with continued efforts in expanding its streaming services through Amazon Prime has shown the company can make good use of its $60 billion cash on hand. The average Zacks Price Target offers 55% upside from Amazon’s current levels.Microsoft MSFT Microsoft is one of the largest broad-based technology providers in the world. Microsoft’s products include operating systems, cross-device productivity applications, server applications, business solution applications, desktop and server management tools, software development tools, and video games.Microsoft’s growth in the cloud and its savvy acquisitions have helped MSFT maintain its standing as a Computer-Software industry leader. During its fiscal fourth quarter, Microsoft’s Intelligent Cloud revenue climbed 20% to $20.9 billion. This was largely due to its public cloud computing platform Azure. The growth of Azure along with acquiring LinkedIn and countless others, including the possible future acquisition of Activision Blizzard help Microsoft continue growing and innovating through multiple revenue streams. MSFT is down -30% year to date to underperform the S&P 500. This is on par with the Computer-Software Market’s -32% drop. However, over the last five years, Microsoft is up +213%. Even better, over the last decade, MSFT is up an impressive +690% to crush the Computer-Software Market and the benchmark’s +167%.Image Source: Zacks Investment ResearchThe stellar 10-year price performance in the chart above may be a reason for investors to be optimistic about this year’s decline in MSFT. The -30% YTD drop could very well be a healthy correction for the long term and perhaps a chance to start adding positions at a discount. Microsoft is 33% off its 52-week highs, trading around $232 a share. MSFT has a forward P/E of 23.5X, which is near the industry average. This is also lower than its decade high of 37.4X and near the median of 23.7X.According to Zacks estimates, MSFT earnings are expected to rise 9% to $10.09 a share in 2022. Fiscal 2023 earnings are expected to climb another 15%. Microsoft’s sales are projected to be up 11% this year and another 13% in FY23 to $249.93 billion.Microsoft has also flexed its impressive balance sheet with its most recent $60 billion share repurchase program. Such notable buybacks increase the value of remaining shares for investors with MSFT also boosting its dividend six times in the last five years. MSFT’s current annual dividend yield is a modest 1.04% at $2.48 a share.MSFT currently lands a Zacks Rank # 3 (Hold) and its Computer-Software Industry is in the bottom 39% of over 250 Zacks Industries. However, the average Zacks Price target offers 39% upside from current levels.Bottom Line While it may not be time to be greedy, the decline among big tech stocks is creating what could turn out to be a valuable opportunity for investors. It will be important for investors to stay focused and not panic during downturns.There may be more downside risks ahead, however this allows time to start building meaningful positions. Stocks like Amazon and Microsoft have greatly rewarded patient investors over the last decade and after this downcycle, their stellar performances could continue. This Little-Known Semiconductor Stock Could Be Your Portfolio’s Hedge Against Inflation Everyone uses semiconductors. But only a small number of people know what they are and what they do. If you use a smartphone, computer, microwave, digital camera or refrigerator (and that’s just the tip of the iceberg), you have a need for semiconductors. That’s why their importance can’t be overstated and their disruption in the supply chain has such a global effect. But every cloud has a silver lining. Shockwaves to the international supply chain from the global pandemic have unearthed a tremendous opportunity for investors. And today, Zacks' leading stock strategist is revealing the one semiconductor stock that stands to gain the most in a new FREE report. It's yours at no cost and with no obligation.>>Yes, I Want to Help Protect My Portfolio During the RecessionWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report, Inc. (AMZN): Free Stock Analysis Report Microsoft Corporation (MSFT): Free Stock Analysis Report Target Corporation (TGT): Free Stock Analysis Report To read this article on click here. Zacks Investment Research.....»»

Category: topSource: zacks2 min. ago Related News

Canada Has A Food Affordability Problem

Canada Has A Food Affordability Problem Authored by Sylvain Charlebois via The Epoch Times, Did you know that there is a global food security index? The well-known magazine The Economist has just published its 11th edition. The Global Food Security Index comprises a set of indices from more than 120 different countries. Since 2012, the index has been based on four main pillars: food access, safety, sustainable development, and affordability. The approach is quite comprehensive and robust. Index indicators include nutritional standards, urban absorptive capacity, food consumption as a percentage of household expenditure, food loss and waste, protein quality, agricultural import tariffs, dietary diversification, agricultural infrastructure, volatility of agricultural production, public spending on agricultural resource and development, corruption, risks to political stability, and even the sufficiency of supply. In short, anything goes. Finland ranks first this year, followed by Ireland and Norway. Canada is well-positioned compared to other countries around the world since we are ranked seventh globally, the same as last year. Not bad. The United States is 13th. In terms of food access—which measures agricultural production, farm capacities, and the risk of supply disruption—Canada ranks sixth, which is not too surprising. Despite our recent episodes of empty shelves and stockouts, Canada can boast about its food abundance. We produce a lot and are part of a fluid North American economy focused on cross-border trade, which allows for better food access. Another pillar focuses on sustainable development, the environment, and climate adaptability. This pillar assesses a country’s exposure to the impacts of climate change, its sensitivity to risks related to natural resources, food waste management, and how the country adapts to these risks. In this regard, Canada is ranked 29th, far behind Norway and Finland, who are first and second in this category. Food waste remains Canada’s Achilles’ heel, as we waste more than just about anyone else on the planet. But with higher food prices, more than 40 percent of Canadians, according to a recent study, are wasting less than they were 12 months ago. When it comes to food safety and quality, Canada ranks first in the world. Canada is ahead of everyone, even Denmark and the United States, both renowned for their proactive approaches to food safety. Food safety in Canada is perhaps the facet most underappreciated by consumers. Despite a few momentary failures and periodic reminders, sanitation practices in the country are exemplary. Canada has consistently ranked well for years, except perhaps when traceability is measured. We have a long way to go, but the industry and public safety regulators are performing relatively well. But the area where Canada’s performance is of some concern is food affordability. This measure is dedicated to consumers’ ability to purchase food, their vulnerability to price shocks, and the presence of programs and policies to support consumers when shocks occur. Canada fell one spot again this year and sits at 25th in the world. Australia, Singapore, and Holland top the list for affordability. Given the resources and food access we have, Canada should do better. Since July 2021, food inflation has always exceeded general inflation in the country, and everything is already costing more these days. Higher food prices at the grocery store over the past year have been difficult for many of us to accept. Canada needs a food autonomy policy, a more robust food processing sector, and better logistics domestically. And with winter coming and our dollar visibly weakening against the U.S. dollar, we could see significant price jumps again, especially in the produce and non-perishables sections. As wages stagnate and food prices rise, it’s hard to predict when Canada will do better in terms of affordability. Specific fiscal measures such as tax reductions to help consumers would be more than timely. Tyler Durden Fri, 09/30/2022 - 20:25.....»»

Category: blogSource: zerohedge2 min. ago Related News

"Globalists Are Marching Us Relentlessly Toward Nuclear Armageddon," Warns Former Senator

"Globalists Are Marching Us Relentlessly Toward Nuclear Armageddon," Warns Former Senator Fears of nuclear war are increasing across the West as Russia mobilizes hundreds of thousands of troops and declares annexation of parts of Ukraine. Meanwhile, President Volodymyr Zelensky announced that Ukraine is applying for membership in NATO. These two developments could be the most significant escalation since the war's start.  Today's developments are a sobering reminder that nuclear war threats are mounting. Retired Virginia State Senator and retired Marine Col. Richard Black addressed members of the US Congress in an open letter on Tuesday about "globalists are marching us relentlessly toward this nuclear Armageddon." Black pointed out: There would have been no war had we not overthrown the democratically-elected government of Ukraine by violently ousting President Yanukovych in 2014. We promoted war by flooding Ukraine with massive arms shipments afterwards. The former senator said, "the US could have achieved peace by simply pressing Ukraine to implement the 2014 Minsk Peace Agreements which it had signed, establishing a clear framework for settling outstanding issues peacefully. Ukraine promised to implement the Minsk agreements, but chose instead to make war on the Donbass for the next seven years."  He said NATO could've sought peace but chose war instead.  NATO had ample opportunity for peace but deliberately chose war. The US realized that, with Russia's back to the wall, it would have no choice to but to attack. In 2007, US Ambassador to Russia William Burns pointedly warned that movement toward absorbing Ukraine into NATO might well trigger war between Ukraine and Russia. Nonetheless, the Obama administration overthrew the Ukrainian president and flooded in weapons, knowing that doing so would trigger war. Black said billionaire elites who have an interest in the region are making "war profits even if it means gambling the lives of hundreds of millions of people across the globe."  "Should we annihilate the world's population to intervene in a border war where the US has no vital national interest?" the former senator asked.  Black called for an immediate end to this war by making Ukraine a neutral, non-aligned state, "just as we did during the Cold War with Austria in 1955."  But it appears the former senator's plea to avoid further conflict went unheard after Zelensky's declared intent to apply for expedited NATO membership as President Putin proclaimed the annexation of 15% of Ukraine.  Based on Article 5, any acceptance of Ukraine into NATO would automatically trigger a Russia-West world war (WWIII).  In a speech Friday, Putin said the US created a "precedent" by using nuclear weapons against Japan during WW2.  Last week, Navy Admiral Charles A. Richard - currently serving as the US Strategic Command chief -- warned that "possible direct armed conflict with a nuclear-capable peer" could be ahead.  Here's the former senator's open letter to lawmakers on Capitol Hill: Tyler Durden Fri, 09/30/2022 - 20:50.....»»

Category: blogSource: zerohedge2 min. ago Related News

Five Top European States Young Americans Are Thriving

Despite the current economic climate, and the eye-watering cost of living that has already affected millions of American households, a portion of younger adults are still finding it manageable to thrive financially even as financial anxiety persists. It’s not completely possible to ignore the major economic headwinds many Americans have experienced throughout the year. Skyrocketing […] Despite the current economic climate, and the eye-watering cost of living that has already affected millions of American households, a portion of younger adults are still finding it manageable to thrive financially even as financial anxiety persists. It’s not completely possible to ignore the major economic headwinds many Americans have experienced throughout the year. Skyrocketing inflation has sent consumer prices soaring, leaving consumers baffled over whether they will be able to cope with the increasing cost of living. In June 2022, the Consumer Price Index hit a red-hot 9.1%, the highest recorded in more than four decades. .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Ray Dalio Series in PDF Get the entire 10-part series on Ray Dalio in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q2 2022 hedge fund letters, conferences and more   During the same time inflation was sending warning signs across the economy, motorists were paying on average $4.96 per gallon of regular gas, in some places such as California, gas prices hit a staggering $6.39 per gallon. Fortunately, since then, gas prices have substantially come down in recent months, but have seen going up by a couple of cents in the last few weeks. Pricier goods and expensive gas isn’t the only thing that’s been hurting American households. The Federal Open Market Committee (FOMC) recently hiked its prime interest rate by another 75 basis points, marking the highest interest rates have climbed since the financial crisis back in 2007. Jerome Powell, Chair of the FOMC commented that the Federal Reserve will continue to increase the cost of borrowing until they have managed to push inflation down to its target 2% range. The aggressive rate hikes have been a major headwind for not just more financially secure adults, but more so for the younger generations of Americans who were hoping to purchase their first or second home this year. On the back of this, recent indicators have also revealed that the median rental price has also jumped by 4.8% in the past year. Increased consumer demand as people returned to cities, and higher operating costs have sent rental prices spiraling in the last few months. A Redfin rental report from May 2022 revealed that the median price rental price in the country surpassed the $2000 per month threshold for the first time, with the outlook showing possibilities of further increases in the near future. Americans, young and old are paying more for nearly everything these days, and it’s likely to remain this way for the next few years. As economic conditions uncontrollably deteriorate faster than experts predicted, younger Americans are finding it easier and more affordable to relocate abroad in the hopes of enjoying a more affordable lifestyle. While there are several top countries Americans are considering moving to, for many millennials in the U.S. allied European nations are providing them with more attractive jobs and financial opportunities. Recent statistics indicate that among non-European citizens that currently reside within the European Union (EU) 17% relocated for work purposes, 3% for education, and 39% for family-related reasons. Although there is no direct indication of how many of these non-EU citizens were American-born, it, however, paints a vivid picture of how European nations are allowing migrants better opportunities economically. Where in Europe Are Millennials Thriving? While there are countless well-known cities in the U.S.that can offer millennials a place to call home, many are choosing EU nations that allow them an affordable cost of living, financial security, and access to affordable housing. The onset of remote working and work-from-home jobs has only further pivoted many to consider moving abroad. While the odds may be stacked against them in a foreign country, the stronger dollar to Euro is also slightly helping play more in their favor as they settle abroad. On top of that, some of these countries on our list have favorable tax regulations, and overall can offer a better quality of life, something which many younger Americans are seeking amid the cost of living crisis. Let’s see which European states are the top places where young Americans are thriving. Switzerland For decades Switzerland has topped many lists as one of the most livable countries in the world, offering citizens a high quality of life and first-rate public services. While Switzerland isn’t part of the European Union, it still offers a unique European experience like no other with its picturesque scenery, and easy access to neighboring countries including Austria, France, Germany, Italy, and Liechtenstein. Popular cities for expats include Basel, Lausanne, and Zurich, which have been found to be among the best-performing hubs for political stability and urban development. While expats can enjoy better education and healthcare services often subsidized by the government, the cost of living is still more than what the average American could afford. Despite this financial challenge, the multicultural and diverse cities give American millennials a better opportunity to settle and perhaps start a family. Portugal As one of the smaller Western European states, Portugal has been ranked 48th among the 50 major economies in the world. The country has been slowly rebuilding its economy after experiencing major downturns during the first half of the 21st century, and in 2021, inflation was around 1.27%, while the U.S. Consumer Price Index (CPI) registered a 4.7% inflation rate. Like other countries across the world that currently offer remote workers a chance at applying for an Expat Visa, a similar visa allows expats to apply and reside within the country for up to two years. The program allows expats to apply for permanent residency within five years of living in the country, making it one of the easiest routes to European citizenship. Although the country has a lot to offer in terms of public services, such as affordable healthcare and education, the COVID-19 pandemic saw an additional 400,000 Portuguese residents being impoverished due to financial uncertainty. Although there are some challenges that the country will still need to resolve in the coming years, it’s undoubtedly one of the more affordable EU nations which have captured the attention of millennial expats. Iceland Although Iceland is not considered one of the most affordable countries in the world, the country has a lot to offer its residents in terms of public services and recreational attractions. The Nordic nation, which is also known as the land of Fire and Ice, partially due to its active volcanoes, and snow-topped mountain ranges has attracted a small community of expats who are able to afford their way around. Most recent figures revealed that in January 2020, roughly 15.2% of the country’s population was made up of legal immigrants and expats. While the country has a small population of just under 400,000, in recent times it’s become a lot more expat-friendly due to the free movement of people coming from continental Europe and other developed nations. If universal state-sponsored healthcare isn’t something that piques your interest, perhaps the 557 hiking trails, backpacking routes, and numerous camping sites will help decide to relocate a bit easier. Large-scale remote working has also meant that since 2020, the country now offers working-from-home professionals the opportunity to legally reside in the country before having to re-apply for the right to remain. Spain  Ranked as the fourth largest economy in the EU, and 14th globally, Spain has become an international hub for business, tourism, and expats looking to take advantage of the numerous economic benefits the country has to offer. Aside from having a substantially developed economy, the country recently witnessed a surge in international firms being headquartered within its borders, seeing more than 14,600 foreign firms setting up their business in the last few years. On top of this, foreign investors have also found that investment opportunities provide better and more lucrative financial well-being, as the government seeks to provide them with an innovative and progressive workforce. Millennials who reside here enjoy affordable housing, among other economic benefits. There is also a well-functioning healthcare system, and most recent government efforts have seen the country move to improve its tax regulations to attract middle-tier working professionals. Germany Being one of the largest and most progressive economies in the European Union, Germany has ample to offer its residents including universal healthcare, tuition-free schools, and some of the best public transportation the continent has to offer. Industry is one of the country’s strongholds, including automotive, mechanical engineering, chemical, and electrical industries. Like other countries around the world, Germany has been struggling to control soaring inflation which hit a piping hot 10% in September. In an effort to control the rampant running rate at which prices have been increasing, the government has unveiled a €200 billion plan to assist consumers in the fight against the cost of living crisis. Although economic conditions have been tumultuous, the government has been actively working to control uncertainty for residents. The country has a strong workforce and offers ample job opportunities for those in their respective professional fields. If you’re lucky enough to obtain a work or residence permit, it’s definitely worth the effort as many expats have found. The Changing Tide On the bright side, it’s starting to look as if consumers are changing their sentiment in terms of current economic conditions. Recent preliminary data compiled by the University of Michigan showed that the consumer sentiment index increased from 58.2 in August, to 59.5 for the first half of September. While a marginal increment, it remains higher than the 50 recorded in June of this year when the economy started to erode on itself. Although it may still take some time before conditions improve, there is a small enclave of Americans who have been able to thrive in current conditions, as these states not only offer better paying jobs with higher wages, but also a more affordable cost of living. Making a living as an American millennial means that a majority of jobs now offer more competitive salaries, work benefits, and the possibility of working from home or remotely. Although this sounds enticing, millennials are still found to be the most in debt generation in the country, as nearly 73% of them have some form of non-mortgage debt, with the average millennial owing close to $117,000. The high amounts of debt have only further burdened many younger millennials, making it harder for them to properly save for retirement, or put money aside for bigger ventures such as buying a house or property. Again, it comes to show that although millennials may be in a comfortable financial position to some extent, they’re still carrying major debt burdens that will take decades to finish repaying. The Bottom Line While countless factors have made the financial outlook increasingly challenging for millions of Americans, it’s clear that some countries offer them an opportunity to thrive under the current economic climate. With better-paying jobs, booming industries, and evergreen tax provisions, several foreign countries are allowing residents to enjoy a better quality of life even as the cost of living has sent shockwaves across the world. In due time, these and other nations may look to make dramatic changes to the way they attract and retain younger and more skilled workers to help uplift the local economy. Although this may take some time before successfully initiated, it just comes to show that younger Americans are continuously looking for better and more lucrative opportunities, even if this means they need to relocate to a different country. Perhaps this is all temporary, but the future outlook is presenting itself in a completely different way, leaving many young Americans to seek out new ventures that provide them with the financial and social security their older counterparts enjoyed in the decades before......»»

Category: blogSource: valuewalk1 hr. 45 min. ago Related News

"Bullet Train" is an action comedy starring Brad Pitt as an unlucky assassin — here"s how to watch it at home while it"s still in theaters

"Bullet Train" is now available to purchase from digital retailers like Amazon Prime Video for $20. The action flicks stars Brad Pitt and Joey King. When you buy through our links, Insider may earn an affiliate commission. Learn more.Brad Pitt in "Bullet Train"Sony "Bullet Train" follows one unlucky assassin's latest mission on the world's fastest train. Brad Pitt stars alongside Joey King, Aaron Taylor-Johnson, and Bad Bunny. The film is now available to buy for $20 on Amazon, Google Play, and Vudu. You can now watch "Bullet Train" from the comfort of your couch. The film is available to buy on-demand for $20 from retailers like Amazon, Google Play, and Vudu. A funky, action-packed adventure based on a book written by Kotaro Isaka, "Bullet Train" follows an unlucky assassin as he takes an assignment on the fastest train in the world. The mission gets derailed as he runs into one lethal adversary after another, all coincidentally stuck on the same train. Egos and objectives collide, resulting in bloody, stylish, and fast-paced action. Check out the trailer for 'Bullet Train'"Bullet Train" stars Brad Pitt as Ladybug, the unlucky assassin, and the movie is directed by David Leitch. Leitch is best known for directing "Deadpool 2," "Atomic Blonde," "Hobbs & Shaw," and "Nobody," as well as co-directing "John Wick."How to watch 'Bullet Train'"Bullet Train" is now available to watch online through digital retailers like Amazon, Google Play, and Vudu. The movie currently costs $20 to buy in up to 4K quality. Once you buy the movie, you'll be able to stream it whenever you like. Keep in mind, however, that a cheaper rental option is expected to launch on October 18. New releases like this typically cost about $6 to rent, but you only get 30 days to start watching and then 48 hours to finish after you hit play.If you decide to purchase a digital copy of "Bullet Train," you may also want to consider a free Movies Anywhere membership. The service links your Amazon, Apple, Google, Vudu, and Microsoft accounts, allowing you to view compatible movies on every service. That means if you buy "Bullet Train" from Vudu, you'll be able to watch it on the Amazon Prime Video app for no extra cost. Who is in the movie 'Bullet Train'?"Bullet Train" features a star-studded cast, including Brad Pitt, Aaron-Taylor Johnson, Brian Tyree Henry, Joey King, Andrew Koji, Hiroyuki Sanada, Michael Shannon, Logan Lerman, and Sandra Bullock. Notably, Puerto Rican rapper Bad Bunny also cameos. Is 'Bullet Train' a remake?"Bullet Train" is not a remake of the 1975 Japanese action film of the same name. The 2022 film is based on the book "Maria Beetle" by Kotaro Isaka. Is 'Bullet Train' worth watching?"Bullet Train" currently holds an underwhelming 54% rating on Rotten Tomatoes based on 314 reviews from critics. That said, the audience score is much higher at 76%. Though it's not critically acclaimed, the movie is likely still a worthwhile watch for lovers of action, or fans of the many big names starring in it. Despite issues with the story, reviewers did praise the film's exciting set pieces.Read the original article on Business Insider.....»»

Category: topSource: businessinsider1 hr. 45 min. ago Related News

Q3 2022 – Remain Active When Others Are Greedy…And Active When Others Are Fearful…

By Brandon Polakoff It feels like yesterday that COVID-19 struck our nation, sending the real estate markets into a frenzy. What would the next week, 6 months, year, or even multiple years look like? While very few investors decided to double down, most remained on the sidelines because they were... The post Q3 2022 – Remain Active When Others Are Greedy…And Active When Others Are Fearful… appeared first on Real Estate Weekly. By Brandon Polakoff It feels like yesterday that COVID-19 struck our nation, sending the real estate markets into a frenzy. What would the next week, 6 months, year, or even multiple years look like? While very few investors decided to double down, most remained on the sidelines because they were certain more cracks would lead to better opportunities. Of note, these “better” opportunities never came to fruition. We hit a perceived bottom, and the investment sales market effectively came to a halt. By last summer, effectively a year after the initial COVID-19 scare, we battled back with rallying cries of “don’t bet against NYC!” ringing across the market (most coming from buyers who sat on their hands for 12 months). As buyer sentiment grew strong, investors started competing in masses, pushing pricing and sales velocity back to normalized levels. As conveyed in Avison Young’s Fourth Quarter 2021 Property Sales Report, for the first time in two years, the Manhattan investment sales market recorded quarterly sales activity at pre-pandemic levels. More specifically, in the fourth quarter of 2021, Manhattan had 100 transactions for just over $6.2 billion in total dollar volume. This represented increases over the trailing 4-quarter average of 117% and 307%, respectively. Furthermore, this was the highest quarterly dollar volume since Q3 2018 and largest for total transaction count since Q4 2018. Well, here we go again…thanks inflation! The inflation rate is currently ~8.3%, running around its highest level in 40+ years. To reduce inflation down to a benchmark target rate of 2%, the Federal Reserve is committed to fighting back with endless “jumbo” fed rate hikes. While different from the “fed” rate, which is the cost banks charge each other to borrow money, real estate investors are experiencing a trickle-down effect in the way of higher “mortgage” rates. This higher cost of borrowing is diminishing cash flow after debt service as well as predictions about exit cap rates (which I would argue becomes an overly inflated assumption tied to negative sentiment). And herein lies the opportunity. While Warren Buffet is a brilliant investor, far above any level of sophistication I will achieve in my lifetime, I happen to find his famous quote “befearful when others are greedy, and greedy when others are fearful” to be misleading. In fact, Warren Buffet is a longtime advocate of dollar-cost averaging in volatile markets marked by price discovery. “The concept of dollar-cost averaging is simple: Pick some stocks, figure out how much you can afford to invest, and then commit to buying shares at preset intervals. The idea behind dollar-cost averaging is that while you might overpay for shares some weeks, you’ll also underpay other weeks. All told, things should all work out in your favor so that you’re ultimately paying a lower price per share all in.” (Maurie Backman, USA Today) I fully recognize that the stock market is different than the real estate market, but I do believe there are basic investment principles that apply to both. It is incredibly difficult to time the bottom of the market. Things can flip almost immediately, and then you’re too late. The cracks are here, but they won’t necessarily last as long as you think. Just like we saw in the summer of 2021 as we started emerging from COVID-19, things turn as soon as sentiment improves. Rent rolls were still very low (with extensive vacancy) when contracts began to get signed in rapid clips. However, assumptions about the future were optimistic again, pushing pricing levels higher and higher. Over the next 3-6 months (at least) I expect sales volume to dip to very low levels. The reason being investors are both greedy and fearful. A good opportunity needs to be great (typically in the form of an expected call back from a seller that never surfaces…deeper pain is coming…). This is a flawed strategy. I have seen it time and time again. These investors do not buy anything until the market recovers and it is too late. Why not undercut the greedy and fearful, and smile when they eventually buy a similar asset at a much higher basis due to an improved exit assumption? Sure, your cash flows will be negatively impacted today by higher interest rates and the hold period may be longer. However, when the market turns, which it will, your ultimate profit (via sale) should far exceed the diminished monthly income. Some examples include a property we sold to a buyer in May of 2020 in Greenwich Village. Prior to Covid-19, we had contracts out in the mid $30M range. In the blink of an eye, buyers smelled blood in the water and began offering $15-20M. There was a single buyer that recognized an opportunity and moved lighting speed to simultaneously sign a contract and close all cash at $22M. While money was spent to renovate the asset, the current value has eclipsed $50M. Buyers who backed off now wish they could go back in time. The same could be said about a client that purchased an almost entirely vacant portfolio in Hell’s Kitchen for $26M in May 2020. Zero renovations were completed across the portfolioafter the acquisition. After selling one of the four assets for $16.3M after the market quickly improved, their basis in the three remaining assets dropped to ~$10M. The current value for these properties exceeds $20M, in a high interest rate environment. Once again, an investor saw a good opportunity and acted on this intuition. While it is easy to look back on these acquisitions and forget the boldness required, when everything transpired it felt like the world was going to end. Of course, today, buyers tell me why this time is different, and the better opportunities will come. Everyone has very short memories when fear strikes. With that being said, it certainly goes both ways. Over the last 5-6 months a lot of my clients have chased the market down. When very strong offers came in, greed took over and we did not issue contracts (…things will get better). Months later we are scratching and clawing to bring those offers back to the table. However, blood is already in the water and the ship has sailed. My advice? If you are 100% selling, do not ask a price that is far too difficult to achieve. Do not expect to hang around and pick off a unicorn over time. As mentioned above, most buyers are on the sideline waiting for the great opportunity that never surfaces. Be quick to catch the attention of buyers that are smart enough to acton the very good opportunities, create real competition to maintain leverage, and strike. If you are not 100% selling, now is probably not the best time to list or quietly shop your property. You only have one chance to make a first impression, and word travels quickly. Additionally, it is imperative that investment sales brokers become extremely educated and not promise owners they can achieve pricing that is not achievable. You are hurting the client by delivering a stale product, not to mention elongating the price discovery process across the market. Another thing for sellers to consider is that they do not need to hit a home run on every sale. The best strategy may be redeploying capital into properties with more long-term upside versus trying to time the market with your current, maxed out investment (whether repositioned or idle without the wherewithal to execute a business plan). If someone is paying you a price that is above market, but not where you penciled your exit, that does not mean you cannot take advantage of an even better 1031 opportunity in a down market. It’s very important to weigh the trade, and not just the sale price. The post Q3 2022 – Remain Active When Others Are Greedy…And Active When Others Are Fearful… appeared first on Real Estate Weekly......»»

Category: realestateSource: realestateweekly2 hr. 1 min. ago Related News

World"s Top Banks Have 0.01% Exposure To Cryptos: Report

The top banks in the world hold crypto assets worth around $9 billion, according to a Basel Committee report. read more.....»»

Category: blogSource: benzinga2 hr. 2 min. ago Related News

"Full-Fledged Ice Age": Semiconductor Companies Slash Output On Supply Glut

"Full-Fledged Ice Age": Semiconductor Companies Slash Output On Supply Glut Samsung Electronics, the world's largest memory chipmaker, provided more insight into the worsening slowdown for semiconductors and the bust in global PC markets.  Korea Economic Daily reported Samsung "lowered its semiconductor sales forecast for the second half of the year by more than 30%." The newspaper attributed slumping semiconductors demand "as the economy froze due to central bank rate hikes caused by global inflation."  The paper warned: "As the semiconductor industry has entered a full-fledged ice age, there are many forecasts in the industry that the recession will continue until the first half of next year when semiconductor inventories are eliminated."  Earlier this week, Samsung's Device Solutions division said they "lowered our sales guidance for the second half of this year (the company's internal forecast) by 32% from our April forecast." None of this should be a surprise as we recently outlined PC Demand Suffers' Steepest Decline In Years' As Chip Shortage Turns To Glut.  "Both DRAM and NAND flash suppliers and customers are holding too many semiconductor inventories," an official told Korea Economic Daily.  Another top semiconductor company, Japan's Kioxia Holdings Corp, announced it would slash wafer production starts by 30% next month, according to Bloomberg. "The deep cuts stem from weakening demand for computers and smartphones, and the wider semiconductor industry is likely to follow the trend. "Hard times are ahead for the industry, except for a few," said Kazunori Ito, an analyst with Morningstar.  These souring developments in the global semiconductor market come as the largest US manufacturer of memory chips, Micron, reported revenue that missed (despite a slight beat on EPS and margins), but it was the forecast that again was a total disaster.  Micron offered one of the most significant recession warnings so far from a large corporation: "results were impacted by rapidly weakening consumer demand and significant customer inventory adjustments across all end markets." It added that due to the sharp decline in near-term demand, it expects "supply growth to be above demand growth in calendar 2022." "Yes, we have a challenging market environment, but we're responding rapidly with actions ... fiscal 2023 is, of course, an unprecedented environment, but the long-term drivers are intact," Micron CEO Sanjay Mehrotra said in an interview.  But it's just not memory chips. We pointed prices of graphics processing units (GPUs) have plunged to their lowest levels ever in China, and chip deflation was already washing ashore in the US.  The iShares Semiconductor ETF (SOXX) has fallen 40% since peaking in late 2021, and the weekly 200-day moving average is being tested.  Earlier this week, Bloomberg reported Apple ditched plans to increase iPhone production due to a lack of demand. Weeks ago, FedEx warned that the global economy is "going into a worldwide recession." If both the semi-industry and top shippers are warning about economic turmoil ahead, then it's probably time to start preparing for a possible recession in 2023. Meanwhile, the Federal Reserve continues to hike into a slowdown aggressively -- this is a recipe for an epic policy error.  On the bright side, now, or at least in the months ahead, it might make sense to build a computer as it seems components, such as memory chips, GPUs, and CPUs, could be heavily discounted.  Tyler Durden Fri, 09/30/2022 - 18:40.....»»

Category: blogSource: zerohedge2 hr. 18 min. ago Related News

Beverage Can Demand Aids Crown Holdings (CCK) Despite Cost Woes

Crown Holdings (CCK) will benefit from expanding its capacity to meet solid global beverage-can demand and strategic acquisitions despite inflationary cost pressures. Crown Holdings, Inc.  CCK has been witnessing strong demand across all product lines with demand for beverage cans being particularly strong, courtesy of consumers’ growing preference for the same. CCK’s investments in the construction of new plants, addition of production lines to existing facilities and strategic acquisitions to make the most of this trend will act as a key catalyst. Inflated raw material and freight costs, and supply-chain issues remain headwinds.Upbeat Guidance for 2022Backed by strong demand, Crown Holdings expects adjusted earnings per share in 2022 between $7.65 and $7.85. In 2021, CCK reported adjusted earnings per share of $7.66.Efforts to Tap Beverage Can DemandOver the past few years, demand for beverage cans has been growing as it is the world’s most sustainable and recycled beverage packaging. An estimated 75% of new beverage product launches are now packaged in cans. Crown Holdings continues to implement several projects, including both construction of new plants and the addition of production lines to the existing facilities to meet this demand.To this end, by the close of 2023, Crown Holdings expects to commercialize new production capacity at new plants in Martinsville, VA , Mesquite, NV, Uberaba, Brazil and Peterborough, the United Kingdom. Additional production lines are also being installed at the existing plants in Phnom Penh, Cambodia; Monterrey, Mexico and Agoncillo, Spain and Parma, Italy.Other Vital DriversCrown Holdings is focused on disciplined pricing, cost control and capital allocation. CCK's primary capital-allocation focus will be to reduce leverage while still investing in its business. In addition to capacity expansion, CCK continues to make strategic acquisitions in geographic areas and product lines.Cost Inflation & Supply Issues: A BaneCrown Holdings is incurring higher raw material costs as well as increased labor and freight costs. This will weigh on its margins this year. CCK’s equipment business continues to face supply-chain delays and disruptions. The company is also bearing the brunt of escalating European energy prices and currency translation headwinds.Price PerformanceImage Source: Zacks Investment ResearchShares of Crown Holdings have fallen 19% in the past year compared with the industry’s decline of 34.7%.Zacks Rank and Stocks to ConsiderCrown Holdings currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks in the Industrial Products sector are Tenaris TS, CECO Environmental CECE and W.W. Grainger Inc. GWW. While TS flaunts a Zacks Rank #1 (Strong Buy), CECE and GWW carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.Tenaris delivered a trailing four-quarter earnings surprise of 34%, on average. Earnings estimates have increased 8% for fiscal 2022 in the past 60 days. The TS stock has risen 18% in the past year.CECO Environmental delivered a trailing four-quarter earnings surprise of 29.1%, on average. Earnings estimates have increased 17% for fiscal 2022 in the past 60 days. The CECE stock has gained 23% in the past year.Grainger’s earnings surprise in the last four quarters was 7.9%, on average. In the past 60 days, its earnings estimates have increased 4% for 2022. The GWW stock has gained 22% in the past year. This Little-Known Semiconductor Stock Could Be Your Portfolio’s Hedge Against Inflation Everyone uses semiconductors. But only a small number of people know what they are and what they do. If you use a smartphone, computer, microwave, digital camera or refrigerator (and that’s just the tip of the iceberg), you have a need for semiconductors. That’s why their importance can’t be overstated and their disruption in the supply chain has such a global effect. But every cloud has a silver lining. Shockwaves to the international supply chain from the global pandemic have unearthed a tremendous opportunity for investors. And today, Zacks' leading stock strategist is revealing the one semiconductor stock that stands to gain the most in a new FREE report. It's yours at no cost and with no obligation.>>Yes, I Want to Help Protect My Portfolio During the RecessionWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report W.W. Grainger, Inc. (GWW): Free Stock Analysis Report Crown Holdings, Inc. (CCK): Free Stock Analysis Report CECO Environmental Corp. (CECE): Free Stock Analysis Report Tenaris S.A. (TS): Free Stock Analysis Report To read this article on click here. Zacks Investment Research.....»»

Category: topSource: zacks2 hr. 46 min. ago Related News

Dogness Reports Financial Results for Fiscal Year Ended June 30, 2022

Highlights for the Fiscal Year Ended June 30, 2022 11.5% Revenue Increase YoY to $27.1 Million 73% Increase YoY in Sales of Intelligent Pet Products 100% Increase YoY in Income Per Basic and Diluted Share 241% Increase YoY in Balance of Cash and Short-Term Investments PLANO, Texas, Sept. 30, 2022 /PRNewswire/ -- Dogness (International) Corporation ("Dogness" or the "Company") (NASDAQ:DOGZ), a developer and manufacturer of a comprehensive line of Dogness-branded, OEM and private label pet products, today announced its audited financial results for the fiscal year ended June 30 2022. Silong Chen, Chairman and Chief Executive Officer of Dogness, commented, "We continue to benefit from our priority focus of resources on the production and promotion of sales of our higher margin intelligent pet products. With both our existing models and the newly launched models of our smart products, we delivered a 73% increase in sales of our intelligent pet products in the fiscal year ended June 30, 2022, compared to the year ago period. We also continue to upgrade our production lines for traditional pet products to improve the productivity and lower the production costs. This has allowed us to lower our average unit selling price for our traditional pet products, while still maintaining desirable profit margins. Our sales strategy for traditional pet products has helped us to successfully retain our customers and attract new customers, which we have leveraged to increase awareness for our intelligent pet products. To mitigate the impact caused by COVID-19, we expanded our sales channels to more proven online shopping platforms, such as Amazon, Chewy, JD, Tmall,, and the live streaming sales platforms hosted by influencers, as well as maintaining the existing online and instore channels. These ecommerce sales normally have higher profit margin than traditional sales channels." "With the continued strong demand and pet culture growth in China and worldwide, more and more young consumers have become pet owners. Dogness is well positioned to benefit from this growth, which is serving as a sales catalyst for our intelligent pet products, including App-controlled smart pet food feeders, pet water fountains, pet tracking devices and smart pet toys. In addition, our sales and distribution channel has been further diversified due to the rapid change of technology and lifestyle. Younger generations are more tech savvy and more willing to purchase products from popular online shopping sites, including Amazon, Chewy, JD, Tmall and Taobao, and from live streaming sales platforms hosted by influencers. As a result, we strategically increased our marketing activities and sales efforts in the domestic market, especially on those online shopping sites and channels." "As we look forward we are even more excited about our growth potential led by our continued development of innovative, differentiated pet products and services, which allow us to build strong relationships with our customers, build brand loyalty, enhance our market position, increase transaction size and further enhance operating margins. Taken together, we believe Dogness is on track to further improve our sales, profitability and return on investment for our stockholders in the near future." Financial Results for the Fiscal Year Ended June 30, 2022 Revenues increased by approximately $2.8 million, or 11.5%, to approximately $27.1 million for the year ended June 30, 2022, compared to $24.3 million in the year ended June 30, 2021. The increase in revenue was primarily attributable to the increased sales of the Company's intelligent pet products, which have much higher average selling price than our traditional pet products. Revenue from the Company's intelligent pet products increased by approximately $5.7 million or 73.0%, from approximately $7.8 million in fiscal 2021 to approximately $13.5 million in fiscal 2022, primarily reflecting a higher selling price and increased sales volume. Revenue from traditional pet products decreased by approximately $2.9 million or 20.2% from approximately $14.3 million in fiscal 2021 to approximately $11.4 million in fiscal 2022, primarily reflecting a decreased average selling price per unit. Total sales in international markets increased by approximately $3.9 million or 36.8% to $14.5 million in the year ended June 30, 2022 from approximately $10.6 million in the year ago period. Domestic sales decreased by approximately $1.1 million or 8.3% from approximately $13.7 million in the year ended June 30, 2021 to approximately $12.6 million in the year ended June 30, 2022. The Company has seen a sharp increase in consumer demand in the U.S., Australia, Japan and other Asian countries because of the stimulus plan and the strong recovery of the economy. Sales to the U.S. increased by approximately $2.0 million or 32.4% to approximately $8.0 million in the year ended June 30, 2022 from approximately $6.0 million for the year ended June 30, 2021. Sales to Japan and other Asian countries and regions market increased by approximately $1.7 million or 131.0% to approximately $3.0 million for the year ended June 30, 2022 from approximately $1.3 million for fiscal 2021. Cost of revenues increased by approximately $1.8 million, or 11.8%, from approximately $15.2 million in the year ended June 30, 2021 to approximately $17.0 million in the year ended June 30, 2022. Gross profit increased by approximately $1.0 million or 10.7%, to approximately $10.1 million in the year ended June 30, 2022 from approximately $9.2 million in the year ago period due to the continued upgrading of the Company's production lines for both traditional and intelligent pet products, which led to improved productivity and lower production costs. Overall gross profit margin was 37.4% for the year ended June 30, 2022, as compared to 37.6% for the year ended June 30, 2020. Net income attributable to Dogness increased to $3.2 million or $0.10 per basic and diluted share for the year ended June 30, 2022 , compared to $1.5 million or $0.05 per basic and diluted share for the year ended June 30, 2021. The Company recognized a $3.2 million foreign currency translation loss for the year ended June 30, 2022, compared to a gain of $4.9 million in the year ago period. The Company had a balance of cash and short-term investments of approximately $16.7 million as of June 30, 2022, compared to approximately $4.9 million as of June 30, 2021. About Dogness Dogness (International) Corporation was founded in 2003 from the belief that dogs and cats are important, well-loved family members. Through its smart products, hygiene products, health and wellness products, and leash products, Dogness' technology simplifies pet lifestyles and enhances the relationship between pets and pet caregivers. The Company ensures industry-leading quality through its fully integrated vertical supply chain and world-class research and development capabilities, which has resulted in over 200 patents and patents pending. Dogness products reach families worldwide through global chain stores and distributors. For more information, please visit: Forward Looking Statements No statement made in this press release should be interpreted as an offer to purchase or sell any security. Such an offer can only be made in accordance with the Securities Act of 1933, as amended, and applicable state securities laws. Certain statements in this press release concerning our future growth prospects are forward-looking statements regarding our future business expectations intended to qualify for the "safe harbor" under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding lingering effects of the Covid-19 pandemic on our customers' businesses and end purchasers' disposable income, our ability to raise capital on any particular terms, fulfillment of customer orders, fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, our ability to realize revenue from expanded operation and acquired assets in China and the U.S., our ability to attract and retain highly skilled professionals, client concentration, industry segment concentration, reduced demand for technology in our key focus areas, our ability to successfully complete and integrate potential acquisitions, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings. These filings are available at Dogness may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. In addition, please note that any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of the date of this press release. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.   DOGNESS (INTERNATIONAL) CORPORATION CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) 2022 2021 2020 For the Years Ended June 30, 2022 2021 2020 Revenues- third party customers $ 24,882,618 $ 23,112,435 $ 18,261,707 Revenues – related parties 2,212,579 1,207,686 909,651 Total Revenues 27,095,197 24,320,121 19,171,358 Cost of revenues – third party customers (15,654,952) (14,501,166) (16,146,856) Cost of revenues – related parties (1,301,180) (663,742) (633,132) Total cost of revenues (16,956,132) (15,164,908) (16,779,988) Gross Profit 10,139,065 9,155,213 2,391,370 Operating expenses: Selling expenses 2,077,174 1,815,771 2,336,229 General and administrative expenses 6,742,687 4,941,036 5,746,812 Research and development expenses 917,227.....»»

Category: earningsSource: benzinga4 hr. 2 min. ago Related News

Starfish Finance Proposes DeFi-NFT Convergence on Polkadot

Paris, France, 30th September, 2022, Chainwire Starfish Finance, the DeFi project running on Astar Network, has shared its vision of how NFTs and decentralized finance will coalesce on Polkadot. The community-driven project predicts the worlds of DeFi and NFTs will eventually fuse and form a brighter star, with Starfish Finance ($SEAN) serving as the fortress […] Paris, France, 30th September, 2022, Chainwire Starfish Finance, the DeFi project running on Astar Network, has shared its vision of how NFTs and decentralized finance will coalesce on Polkadot. The community-driven project predicts the worlds of DeFi and NFTs will eventually fuse and form a brighter star, with Starfish Finance ($SEAN) serving as the fortress that hosts this union. Starfish Finance is one of many planets orbiting the Astar Network ecosystem, one of the brightest parachains in the Polkadot galaxy. Living on its primary planet is a starfish named Sean, who has vowed to venture into the galaxy and build new castles. The Starfish protocol is based on Balancer v2. It gives users the freedom to create liquidity pools of up to eight different crypto assets on top of a full stack DeFi product suite. Beyond its DeFi capabilities, users can stake NFTs on their native chain through Celer Network’s IM framework, an inter-chain messaging mechanism, to enjoy cross-chain collateralized NFT lending and borrowing. The Starfish Finance protocol has been audited by CertiK and the Starfish team has stressed that the community’s security is their number one priority. The team is now in the process of entering into collaboration with renowned NFT projects to provide liquidity that will empower owners to access capital without relinquishing ownership of their cherished collectibles. Starfish Finance is already listed on Huobi, a major top tier centralized exchange, and the team aspires for more listings which might be announced as the protocol develops. From the beginning, Starfish Finance has positioned itself as a one-stop shop that offers multi-token stable and weighted swaps and embraces a multi-chain future. Starfish started the year with conception, fundraising, forming strategic partnerships, building an inclusive community, and testnet launch. For the rest of 2022, the team will roll out their DeFi suite and refine their NFT collateralized lending and borrowing launch in the roadmap. The eventual formation of Starfish DAO, dubbed The Aquarium, will pave the way for everything that comes next. The community council will be tasked with nurturing different parts of the project, from product to art, and from technology to marketing. Community members will play a big part in onboarding and whitelisting new NFT projects as eligible collateral for Starfish’s NFT-Fi, in addition to managing events and activities to grow the multi-chain Web3 economy. Learn more about Starfish Finance Contact Partnership Lead»»

Category: blogSource: valuewalk4 hr. 2 min. ago Related News

Why Is Gold One Of The Best Performing Assets Of 2022?

The question many investors are asking is, why haven’t gold and silver rallied this year while inflation runs excessively hot? There are several possible reasons, a few of which are explored below. Currently, gold is outperforming US Treasury Inflation-Protected Securities (TIPS), US and foreign bonds, the NASDAQ, S&P 500, foreign stock, and a basket of […] The question many investors are asking is, why haven’t gold and silver rallied this year while inflation runs excessively hot? There are several possible reasons, a few of which are explored below. Currently, gold is outperforming US Treasury Inflation-Protected Securities (TIPS), US and foreign bonds, the NASDAQ, S&P 500, foreign stock, and a basket of foreign currencies. So far, the biggest challengers to gold have been commodities and the US dollar. if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Henry Singleton Series in PDF Get the entire 4-part series on Henry Singleton in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q2 2022 hedge fund letters, conferences and more   Find A Qualified Financial Advisor Finding a qualified financial advisor doesn't have to be hard. SmartAsset's free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you're ready to be matched with local advisors that can help you achieve your financial goals, get started now. As of today, the gold spot price has fallen 5% year-over-year (YoY) but is faring way better than the majority of asset classes. If you hold some gold in your portfolio, it should be hedging fairly well against those losses. The Greenback The US dollar gained strength against other currencies and assets in 2022, despite high inflation. Even though the dollar is at a 20-year high, it doesn’t mean the dollar isn’t losing buying power. So far this year, the average American household has spent $5,200 more on a basket of goods than they did in 2021. That means an average American has to fork out over $433 a month extra if they want to maintain the same living standards as they did the year before! Overall, the dollar’s purchasing power is significantly lower year-over-year. So, when you hear that the dollar is strong, it is being compared to a basket of leading currencies. That’s because other currencies are suffering due to rapidly shrinking economies and loose monetary policies. Forex Earlier this week, the British pound fell to a record low of $1.03 against the US dollar. Then it slightly rose to $1.07. This crash followed an announcement by the British government stating that they will implement the largest tax cuts in 50 years. The British economy is facing high inflation rates and even higher government borrowing. This has led many investors to speculate about a complete economic crash in the UK is becoming more probable. The Japanese yen, Chinese yuan, and EU’s euro have also lost significant value against the dollar and gold. All of these currencies are weaker against the dollar because their corresponding central banks have been hesitant to increase interest rates and tighten their monetary policies. However, these financial bodies are starting to change their tune, with the Bank of England and the European Central Bank beginning to increase interest rates. This will challenge the US dollar’s dominance once the Fed reaches its interest rate ceiling. The Fed can only raise rates to a certain point because the cost to service the country’s debt would become unsustainable. At that point, the dollar would regress. That’s when many analysts predict that gold will begin to gain against the dollar. Gold is Still Holding Strong Although gold has not reached the record highs that many have predicted, the metal is doing better than expected. According to the World Gold Council (WGC), gold should have fallen by 30% due to interest rates and a stronger dollar. Clearly, that is not the case. Gold has remained fairly stable. The WGC stated the following: “The fact that gold has performed as well as it has, all things considered, is a testament to its global appeal and more nuanced reaction to a wider set of variables.” While geopolitical problems and inflation increase across the world, institutions will continue to purchase gold as a safe haven......»»

Category: blogSource: valuewalk4 hr. 2 min. ago Related News

The Apple exec who was filmed joking about fondling women"s breasts said he was quoting a movie — but etiquette and HR experts say that"s still no excuse

"We all know the old adage 'loose lips sink ships.' Even if it's a riff off a movie, it's still not appropriate," etiquette expert Diane Gottsman said. itsdanielmac/TikTok Apple exec Tony Blevins announced he is leaving the company after controversy from a viral TikTok video.  In the video, Blevins makes a joke about fondling women's breasts, which he said was a riff on the '80s movie "Arthur." Experts told Insider that regardless of the origins of the remarks, Apple did the right thing.  Apple's vice president of procurement Tony Blevins is claiming a crude joke that cost him his job was a reference to a 1981 film. But movie riff or not, experts told Insider that Apple was right to pursue an investigation into the exec's conduct, which ultimately led to his resignation. Bloomberg reported on Thursday that Blevins is leaving the company, after sparking significant controversy for remarks he made in a viral TikTok video. In the clip — now viewed more than 1.4 million times — Blevins is asked what he does for a living. He responds: "I have rich cars, play golf and fondle big-breasted women, but I take weekends and major holidays off." Blevins said in a statement to Bloomberg that the remarks were a reference to a quote from the 1981 movie "Arthur," in which actor Dudley Moore in the titular role says, "I race cars, play tennis and fondle women, but I have weekends off and I am my own boss."The video was flagged to Apple's human resources team by multiple employees, leading to an internal investigation. Six direct reports and hundreds of employees were removed from Blevins' management, according to Bloomberg. "I would like to take this opportunity to sincerely apologize to anyone who was offended by my mistaken attempt at humor," Blevins told Bloomberg. Apple did not immediately respond to Insider's request to comment. Dudley Moore in "Arthur" in the scene Blevins claims he was referencing.Warner Bros.While some are saying the move is draconian given the exec was quoting a movie, three experts told Insider they believe Apple did the right thing by swiftly pursuing an investigation, and were unanimous that executives should avoid crass remarks.Diane Gottsman, an etiquette expert and founder of the Protocol School of Texas, told Insider it is "never appropriate" to make such a comment, even if it's a play on a movie quote. "We all know the old adage 'loose lips sink ships,'" she said. "It's never appropriate to make a condescending comment. Even if it's a riff off a movie, it's still not appropriate — it's offensive, it's dismissive, and it's demeaning. And even when you are repeating something somebody else says, it still can potentially, and most often does, offend someone." She said while high ranking executives should be especially vigilant about such verbal slips, all employees should be mindful of their comments in professional and personal settings. "We should always think before we open our mouth - that pertains to all of us," she said. "It's common courtesy and common sense. We pay the consequences when we open our mouth without thinking."Michael Elkins, founder and partner at Fort Lauderdale-based law firm MLE Law, told Insider he believes Apple "did the right thing" and launching an investigation was "100% the right move." "They did exactly what any company should do," Elkins said. "Investigating potential claims or general employment issues is not 'conservative,' it's smart. Too many times employers don't investigate, and the failure to investigate results in considerable exposure."He said business leaders are expected to act with decorum, which means thinking twice before making or repeating offensive statements, noting Blevins' departure also could be indicative of underlying issues. "While you hate to see an employee lose their job over a sarcastic video, Blevins has to know better," he said. "Sarcasm doesn't always translate to the masses. He has to be aware of his position and role in literally the most recognized company in the world."He continued: "When you have that type of position, you give up the freedom to say and do what you want when you want. That may be harsh, but it is the reality." Lauren Winans, CEO of Next Level Benefits, an HR consulting firm, echoed Elkins, and told Insider she believes Apple "absolutely handled this the right way.""Anything short of this outcome would have been criticized as not doing enough," Winans told Insider. "After comments like this, particularly when they've gone viral, it will be virtually impossible to maintain respect and credibility as a leader.  Very few employees would have felt comfortable continuing to report to and work with a leader who is reckless with their words, even if the comments were a failed attempt at humor."Read the original article on Business Insider.....»»

Category: topSource: businessinsider4 hr. 2 min. ago Related News

56 gift ideas for every woman in your life

Need some gifts ideas for the women in your life? No matter her style or your budget, we have you covered with 56 gifts for her. When you buy through our links, Insider may earn an affiliate commission. Learn more.Cider; East Olivia; AmazonWhen it comes to choosing her perfect gift, we're all wanting to go beyond the usual. Sure, you could never go wrong with flowers and a box of chocolates — it's the thought that counts, after all. But while there are countless gifts to choose from, we wanted to narrow down some unique ideas for every woman in your life, like a weather-proof jacket for outdoor enthusiasts and a makeup upgrade for part-time beauty gurus. Consider this your master guide for finding a gift she'll adore (and use again and again).The 57 best gifts for her in 2022A pair of TikTok-famous pillow slidesSally Kaplan/InsiderEQUICK Cloud Slides, available at Amazon, $16.99The TikTok hype may have died down since the popular "pillow slides" trend was at its peak, but these ultra-cushy sandals are still a great gift idea (especially if you're shopping last minute). They're available on Amazon in 10 colors and they cost less than $20. You can read our full review of the sandals here.A unique and luxurious robePrintfreshBagheera Robe, available at Printfresh, $158I know, I know, the joke is that women always get a robe, but Printfresh's robes actually feel unique, special, and luxurious. The prints range from whimsical to ornate and all of the robes are available in sizes small to 6X, making it easy to find a good fit for any body. The fabric is light and soft; perfect for lounging around.A necklace to honor her inner goddessAweGoddess Necklaces, available at Awe, from $87.99A jewelry brand beloved by celebrities, Awe is most well known for its goddess-inspired necklaces. You'll find necklaces honoring Greek, Norse, Celtic, and real-life "goddesses" like Joan of Arc, Hariett Tubman, and Ruth Bader Ginsberg. Each makes a stunning and thoughtful gift. Not sure of her inner goddess? Awe has a quiz to help you find out. A reusable eye mask from a buzzy brandAndrea Bossi/InsiderSkin Forever Eye Mask, available at Dieux, $25Dieux is the cool new beauty editor-founded skincare brand she's probably been coveting ever since it launched. These reusable eye mask patches are a brilliant gift idea because they'll help her get more out of her skincare products without you having to figure out what kinds of formulas she needs. She can add her own serum or under-eye cream to the patches and adhere them to her skin to improve absorption, then rinse and reuse day after day. Just make sure she doesn't have a silicon allergy before you purchase these.A bottle of quick-drying nail polishUltaEssie Expressie Nail Polish, available at Ulta, Amazon, and Target, from $8.17Anyone who paints their nails knows the frustration of waiting for the polish to dry and inevitably smudging it anyway. She'll never have that problem again with a gift of a few Essie Expressive colors. The polish dries in under five minutes — I've painted my nails moments before leaving the house and had a flawless finish.A set of bespoke non-alcoholic spiritsSeedlipSeedlip Non-Alcoholic Spirits Set, available at Amazon and Seedlip, $89Seedlip makes non-alcoholic spirits that can be mixed into mocktails or even added to real cocktails. This set comes with three bottles that each have a different flavor profile (herbal, citrus, and spiced), allowing her to explore her tastes and preferences. We even spoke with bartenders about their favorite non-alcoholic spirits and Seedlip was one of the most popular recommendations.A bag to rep their favorite childhood dollAmerican GirlAmerican Girl x Stoney Clover collection, available at American Girl, from $59If they grew up with American Girl dolls, bring back some of the magic with these pouches from Stoney Clover that rep their favorite OG American Girl. Whether they're a Samantha or a Molly, you'll find a pouch that honors each doll's signature print. They make great makeup or accessory storage, and are sure to surprise and delight your giftee. If American Girl wasn't really their thing, Stoney Clover also has collabs with Star Wars and Disney.A pair of classic pearl earringsMejuriOrganic Pearl Hoops, available at Mejuri, $78If jewelry is her thing, you can't go wrong with a cute pair of pearl drop earrings. They're easy to dress up or down, always on-trend, and the gold vermeil won't turn her ears green.A cozy fleece made from sustainable fabricPatagoniaPatagonia Los Gatos Fleece 1/4-Zip, available at Patagonia, Backcountry, and Dick's Sporting Goods, from $35.96Sometimes the most thoughtful gift is one that aligns with her values. If she cares about sustainability, look no further than Patagonia. The Los Gatos fleece is a classic, cozy sweater that's great for days on the trail or just lounging around and running errands.A sampler of the internet's favorite olive oilBrightlandMini Essentials Olive Oil and Vinegar Set, available at Brightland, $70Brightland's beautifully packaged olive oil was practically made for gift-giving, which is why the brand launched these thoughtful sets that give recipients the chance to try their most popular products. If she loves to cook or entertain, we can't recommend this gift enough. We've tested Brightland's olive oils before and found them to be best when drizzled as a finishing oil or served straight up with bread.A bouquet of whimsical forever floralsEast OliviaForever Florals, available at East Olivia, from $60Flowers are a classic gift, but these colorful bouquets of dried blooms from East Olivia last year after year — a gift that keeps giving. We named East Olivia the best flower delivery service for dried bouquets in our buying guide, and our testing bouquet is still going strong two years in. Each arrangement comes with its own matching vase.A set of self-watering globesAmazonKiKiHeim Plant Watering Globes (2-pack), available at Amazon, $17.99Does she have a green thumb, or at least wish she did? These self-watering glass globes are a fun addition to her indoor or outdoor garden that will make watering her plants less of a chore. All she needs to do is fill the globes when the water is running low, and they'll take care of dispensing water into the soil as hydration is needed.A beautiful leather toteCuyanaTall Easy Tote, available at Cuyana, $248A good tote bag that will last you a lifetime is a gift in and of itself. Cuyana designs all of its bags to remain timeless and usable for decades to come, and this tote bag is a perfect example. It has just one small internal pocket and the rest is just a big open abyss, which means it's usable as a work bag but also as a gym or travel bag where she may need to shove an endless amount of things in there Mary Poppins style. You can also opt for Cuyana's The System line of totes, which is slightly more customizable by allowing you to add inserts and straps for personalized internal organization.A colorful keyboardAmazonLogitech POP Keys Mechanical Wireless Keyboard, available at Amazon, Best Buy, and Logitech, from $89.67It's hard to find a great keyboard that is also attractive, but Logitech's POP series manages both. Currently available in three colors, this keyboard will add some personality to her workspace, and since it's mechanical, each keystroke will give a satisfying "clack." She can also customize the keys to automatically type her favorite emoji, and there's a matching mouse available.An Apple Airtag for finding all her thingsLisa Eadicicco/InsiderApple AirTag, available at Amazon, Target, and Apple, from $28.99If your giftee is always looking for their wallet or keys, an Airtag can cut down on the time they spend hunting for their things this year. Each tag is equipped with location tracking so they can quickly check the status on their items from a phone or computer. If your giftee is an avid traveler, they also come in handy for tracking luggage.A dupe for Princess Di's famous sweaterCiderCount Sheep Stripe Sweater, available at Cider, $36Princess Diana made Rowing Blazers' Black Sheep Sweater famous. If your giftee is an anglophile, they'll delight in this inexpensive dupe for Di's pricey jumper. If sheep aren't quite their style, Cider makes a number of other whimsical and inexpensive sweaters. You can check out our review of Cider here.An emergency bracelet for all their outdoor adventuresLauren Savoie/InsiderAtomic Bear Paracord Bracelet (2 Pack), available at Amazon, $10.99For the person who loves to hike or camp, this paracord survival bracelet makes a great add-on gift. It's just $11 for a pack of two, and each bracelet comes with a fire starter, compass, whistle, and 12 feet of paracord, so she'll feel secure knowing she has the tools to stay safe in case of an outdoor emergency. If you're curious about how they work, one of our editors breaks it down in a review of the bracelets here.Subtly colorful wine glassesAnthropologieWaterfall Stemless Wine Glasses (4-pack), available at Anthropologie, $56Wine aficionados may snub stemless glasses, but we still love this set from Anthropologie. The design is subtle enough to fit every table setting, with sheer color at the bottom and a gold rim on top. And if she's looking to upgrade her entire glassware collection, we found 18 other sets that are as striking as they are functional.A bong that doubles as a piece of decorSummerlandChongo Bong, available at Summerland, $250If their goal is to get high, you can get them any old bong. But if their goal is to get high with a bong that doubles as an artistic statement, you get them Summerland's Chongo bong. This glazed ceramic water pipe is made by hand, with no two being exactly the same. It packs a generous volume of smoke and hits really well, and pretty enough to be a flower case if need be.A 24-pack of sheet masksAmazonDERMAL Sheet Mask (24-pack), available at Amazon, $14.99For anyone who could use a little more "me time," this extra large pack of Korean face masks will buy them hours worth of relaxation. Gift the entire pack to one person, or split it up to stuff multiple stockings. If you want to go even bigger, a 39-pack is available for just a few dollars more.A set of packing cubes for this year's travelsAwayThe Insider Packing Cubes (Set of 4), available at Away, $45A set of these cubes makes packing for any trip more manageable. The cubes compress items so she can cram more into her suitcase, and they keep everything organized so she doesn't have to unpack her whole bag to find that one shirt. While they may seem like a simple accessory, our reporter says they've completely changed the way she travels.A jigsaw puzzle that does a magic trick when you complete itLauren Savoie/InsiderThe Mystic Maze by Magic Puzzle Company, available at Amazon, $19.99Who doesn't love a good jigsaw puzzle? This one features a whimsical scene, uniquely-shaped pieces, and a surprise ending — when you complete the puzzle, you open a final set of instructions that transforms the scene. We won't spoil the ending, but if you want to learn more, we reviewed the puzzle here.The lite version of the all-popular Nintendo SwitchAmazonNintendo Switch Lite, available at Amazon, Target and Walmart, from $199If your girl is into gaming on the down low, a Nintendo Switch Lite is a great place to start. Portable, handheld, and compatible with all physical and digital Nintendo Switch games, this console is a gateway to cozy evenings playing "Animal Crossing" or energetic "Super Smash Brothers" matches.An upgrade to her daily makeup essentialsGlossierThe Make Up Set, available at Glossier, $44 Say hello to Boy Brow, Cloud Paint, and Lash Slick: Her new go-to makeup essentials designed to groom and gloss. This bare minimum makeup set by Gen Z-approved Glossier boasts easy-to-wear makeup essentials that aims to channel her inner beauty.A personalized lip balmAmazonWinky Lux Rainbow Balm, available at Amazon, Target and Ulta, $18 Winky Lux has truly outdone itself with this unique PH-inspired lip stain. This balm reflects her personal version of a universally flattering cherry pink shade and refreshing pineapple flavor. Bonus points: This fun gloss ditches parabens for nourishing, cruelty-free Vitamin E and jojoba oil.A pair of timeless floral earringsUncommon GoodsBirth Flower Earrings, available at Uncommon Goods, $38Beyond the usual birthstone adornments, each pair of these handmade, symbolic birth month flower earrings carries a unique meaning of their own. Specially crafted from a silver-plated pewter setting, lacquer and a real petal, stem, and leaf forever preserved by a coat resin, these earrings can be dressed up or down and will probably never be taken off.A lingerie subscriptionAdore MeAdore Me subscription, available at AdoreMe, $19.95–$59.95 per set Whether she's looking for comfortable day wear or sexy date night sets, this home try-on lingerie box is personalized to her unique style. As the #1 lingerie box on the market, AdoreMe's Elite Box includes 4-7 personalized styles in inclusive sizes. She can keep what she loves and return the rest — no stress required!This single-serve blenderAmazonNutribullet Single Serve Blender, available at Amazon, Target and Walmart, from $62For fitness gurus and smoothie fanatics alike, this sleek blender is the perfect addition to her kitchen-workout routine. The 600-watt motor and refined nutrient extraction blades make sure that every blend is packed with as much protein as possible with the least amount of effort, making her trip to the gym that much easier.A box set of a best-selling fantasy romance seriesAmazon"A Court of Thorns and Roses" Box Set, available at Amazon, Barnes & Noble and Books-A-Million, from $59.99 If she adores everything fantasy and has a affection for (a lot) of romance, this #1 New York Times bestselling fantasy romance series by Sarah J. Maas will be a true page-turner. Invite her to follow the epic journey of Feyre Archeron in a world of High Fae, monsters and magic — with more books on the way!A pretty personalized journalPapierWildflower Notebook, available at Papier, $30 For writers, journalers, and doodlers, this customized notebook is a gateway to grand ideas and limitless inspo. Add a personal touch to the elegant hardback, floral cover by including her pen name, alter ego, or favorite inspirational quote.This multi-functional outdoor jacketREIFjallraven Stina Jacket, available at REI, Amazon and Backcountry, from $139.93If they love nothing more than a solid hike or simply enjoy spending time outdoors, this durable Fjallraven Stina Jacket is perfect for everyday comfort and protection from the elements. Equipped with a fixed hood, an adjustable fit, a two-way storm flap and more, this jacket is sure to be their favorite, hands down.A little box of cute trinketsGreetablGreetabl Custom Gift Box, available at Greetabl, from $15Customize a little box for her full of cute trinkets and sweet messages. Pick the print of the box, what little gifts you'd like to put inside, then fill in your own message and pictures you want to be included. It's a small but sweet gift that works for just about anything.Read our full review here.A set of great makeup bagsLeatherologyLeatherology Clamshell Makeup Bag Set, available at Leatherology, $95Every woman needs a nice bag to hold her makeup and toiletries, whether for traveling or keeping on her dresser. This leather set comes with two sizes, one smaller and one larger, and can even be monogrammed if you want to make this gift for her even more special.A dainty jewelry holderCatbirdCatbird Swan Ring Holder, available at Catbird, $32A jewelry holder is always a good gift idea for any woman who wants to organize their jewelry. This pretty little swan will look great on her nightstand or dresser. It's a small, but beautiful piece of decor, and super practical in that it can hold rings, necklaces, and more.A stylish and comfortable pair of shoesAllbirdsAllbirds Wool Runners, available at Allbirds, $110Popular shoe startup Allbirds is equal parts cool and comfortable. You can't go wrong with any of its styles, but if she's already got a pair of the original Wool Runners, try the Wool Runners Mizzle or Tree Runners, both styles that we love around here at Insider Reviews. Read our full reviews of the Wool Runners, Wool Runner Mizzles, and Tree Runners here.A high-tech water bottle that sanitizes itselfAmazonLARQ PureVis Self-Cleaning Water Bottle, available at Amazon and Williams Sonoma, from $99In addition to keeping drinks cool, the LARQ water bottle offers peace of mind with its award-winning, self-cleaning design. With the press of a button, the cap uses UV-C LED technology to neutralize bacteria in 60 seconds. The bottle also activates itself every two hours to keep water fresh and interior surfaces clean. A succulent that'll spruce up her desk spaceLula's GardenLula's Garden Bliss Garden, available at Lula's Garden, $30If her workspace could use a little pick-me-up, this succulent is just the trick. It comes ready to gift in a bow-topped box and lasts much longer than a bouquet of flowers. Plus, each purchase supports, which helps provide access to clean, safe water around the world.Virtual cooking classes for the aspiring chefSur la TableSur La Table Online Cooking Classes, available at Sur La Table, starting at $29 per householdGifting a full experience to the women in your life is perhaps one of the best ways to spend time with them. Led by expert chefs, these virtual cooking classes will have her running around the kitchen and having fun all at once. The lessons last for 90 to 120 minutes and cover tons of dishes and beverages.A cold brew coffee maker for her morningsAmazonOXO Good Grips Cold Brew Coffee Maker, available at Williams Sonoma, $51.95If she always craves cold brew, give her the tools to make it herself from the comfort of her own kitchen. This device is super easy to use and can make a cup that rivals the cold brew from the coffee shop since she can use her favorite grounds.A really good mug she can take camping or into the officeYetiYeti Rambler 14 oz. Mug, available at Yeti and Backcountry, from $30With a vacuum-insulated interior and secure top, this mug works for just about any occasion. Whether she wants to tote her hot oatmeal to the office or enjoy some chili while camping, this is what she'll want to use. A calming weighted blanketCasperCasper Weighted Blanket, available at Casper, from $99Weighted blankets are filled with pounds of microbeads that provide constant pressure. The result is a hug-like sensation that soothes, relieves anxiety and stress, and makes going to bed super comfortable. Cups of healthy food she can take on the goDaily HarvestDaily Harvest 9-Cup Gift Box, available at Daily Harvest, $75If she's always trying to find new ways to prioritize health into her busy schedule, help her out with some Daily Harvest cups. You can prepay for nine cups, which she can redeem and pick out herself. She can choose from smoothies, oat bowls, soups, and other bowls of healthy food that are super easy to take on the go. A piece of cast iron cookware she'll use to make all of her favorite dishesLe CreusetLe Creuset Cast Iron Braiser, available at Le Creuset, Amazon and Wayfair, from $290Unlike most cooking tools, a cast iron pan actually gets better with time. This braiser from Le Creuset is loved by Insider Reviews editors, comes in a bunch of different colors, and is the perfect size for the kinds of one-pot, saucy pasta dishes we make all the time.It's wide enough and deep enough that she won't have to worry about adding too much liquid and having the contents spill over the sides. It's also great for cooking meats and veggies since there's plenty of surface area, so everything has room to get nice and crispy.Read our full review here.A sleek, leather AirPod case with her initialsThe Daily EditedSaffiano AirPod Case, available at The Daily Edited, $40The tech guru in your life will enjoy having a sophisticated home for her AirPods. You can customize everything from the font, text, and font size to the font color, text position, and greeting card. There's an array of neutral colors for the AirPods and AirPods Pro available in either pebbled leather or saffiano leather.The latest Apple AirPodsAmazon3rd Generation Apple AirPods, available at Amazon, Best Buy and Apple, from $169Speaking of AirPods, Apple recently dropped the 3rd generation of its popular wireless earbuds. The latest version includes a more compact design, longer battery life, and spatial audio that delivers a 3D listening experience. Plus, the earbuds will easily and instantly connect to all of her Apple products.A Polaroid camera for instant snapshotsFujifilmFujifilm Instax Mini 11 Instant Camera, available at Amazon and Urban Outfitters, from $73.50In a world where most of our pictures stay on our smartphones, having an instant camera makes snapping life's everyday moments a little more exciting. Waiting for pictures to develop is always exciting, but what she'll love even more is actually getting to hold onto them.A small smart speakerGoogleGoogle Home Mini (2nd Generation), available at Walmart, Target and Best Buy, from $43.95This little Google Assistant speaker is loaded with smart features. She can play music, check the weather, and control the rest of her smart home system with just her voice. A Kindle so she can read literally anything, anywhereAmazonAmazon Kindle Paperwhite, available at Amazon and Best Buy, from $139.99While there's no denying that flipping through real, paper pages is a great feeling, an ebook reader is a great option for travelers and commuters (when it's time to do these things again). She can access her entire library of ebooks on this thing, which makes it easy to always dive into a new book. We're partial to Amazon's Kindle Paperwhite with its glare-free display and waterproofing, which allows you to read literally anywhere.Read our full review here.A powerful wireless speakerBest BuySonos One (Gen 2), available at Best Buy, $219.99Sleek and minimal, the Sonos One won't overwhelm or distract from her existing decor. It can play music and podcasts via Bluetooth so there won't be unsightly cords to deal with either.An easy-to-use painting setUncommon GoodsSpringtime Paint-by-Number Kit, available at Uncommon Goods, $35Painting isn't only for those who do art on the regular. This kit is a straightforward gift for any woman, regardless of experience level. Creating her work of art will take between three and five hours, but she'll end up with a frame-worthy masterpiece.A yoga mat for the fitness enthusiastMandukaProLite Yoga Mat, available at Manduka and Backcountry, from $99For the one who doubles as a yogi, this mat has just the right amount of padding, is made of eco-friendly materials, and has a no-slip grip texture. It's a top pick, even earning a spot as the best overall in our guide to the best yoga mats.A year-long MasterClass membership to learn new thingsMasterClassAnnual Membership, available at MasterClass, from $180/yearMasterClass, unlike many competitors, follows a format that feels like a one-sided conversation with your favorite icons rather than a traditional academic setting. It's interesting, and you can go as deep (into reading materials) or shallow (listening to their insight while running errands) as you like to. An Unlimited Membership gives them access to all the site's classes for the year.The site hosts classes taught by well-known celebrities and industry leaders — from Neil deGrasse Tyson teaching Scientific Thinking and Communication to Malcolm Gladwell on Writing, Shonda Rhimes on Writing for Television, and Bob Iger on Business Strategy and Leadership.Read our full review here.A sleek suitcase that'll be her travel go-toParavelParavel Aviator Carry-On, available at Paravel, from $350If she's trying to live a more sustainable life, try this carry-on spinner from Paravel. The hard polycarbonate exterior, interior lining, aluminum handle, and zippers are all made with recycled materials, and the sleek detailing on the body is made with vegan leather. It's a gorgeous and thoughtful gift that she'll love using when it's time to travel again.A cult-favorite candleNordstromDiptyque Baies Candle, available at Bloomingdale's and Nordstrom, from $40Gifting candles is an art and Diptyque is one that works every time. She'll swoon over the chic French aesthetic and the aromatic blend of rose petals and blackcurrant leaves. The brand is even mentioned in our guide to the best candle brands. A luxurious box of trufflesGoldbellyVosges Haut-Chocolat Exotic Truffle Collection - 32 Pieces, available at Goldbelly, $99.95Take her all around the world with this set of truffles. Each flavor is inspired by global flavors, with ones like Dulce de Leche, Balsamico, and Sveta Sofia. It doesn't get any better than a box of chocolates when it comes to gifts for the women in your life. Read our full review of Goldbelly here.A cute and challenging puzzleAnthropologieFull Moon Puzzle, available at Anthropologie, $24.95A puzzle is a fun way to pass the time and putting together this 500-piece one, with its gradient pattern, will definitely be a challenge. The whimsical design will look nice splayed out on any table. Read the original article on Business Insider.....»»

Category: topSource: businessinsider4 hr. 2 min. ago Related News

We Will Now Find Out What Putin Does When It Is "Sovereign Russia" That Is Being Attacked

We Will Now Find Out What Putin Does When It Is "Sovereign Russia" That Is Being Attacked By Michael Every of Rabobank Really Trussing Up Yesterday saw stocks slump and key bond yields rise slightly, the US dollar remain on the back foot, and commodities --or at least oil-- fail to go anywhere. We also got some market-moving events and statements: we just haven’t seen the matching moves happen yet. Russia announced it will annex parts of Ukraine today. This will then introduce a global split between the likely small number of states that will recognise this decision, given the doors it opens to other contested borders being changed by force, and the entire western world, which will reject the move. Then we find out what Russia will do when it is “sovereign Russia” that is being attacked. Risk is unlikely to be on as a result, especially into a weekend. Far from unrelated, the EU saw major developments in its energy crisis. Even if the Twitterfication of it might have been unfairly reductive, how about: “EU official: President of the EU Council Michel believes the EU needs to tackle high gas prices and electricity prices; it’s up to the experts to figure out the details.” Such royal hand-waving unlinked to how reality works is how we got into this mess in the first place. But things were figured out. Not, as former BOE Governor Carney said of the UK, a needed rush for nuclear power. Rather, Germany --where inflation hit 10.9%, and the government warned the energy crisis is becoming a broader social crisis-- offered a EUR200bn “protective shield” to keep the price of electricity down. That means massive state subsidies and debts; for years; with no energy rationing in place; as the country starts to run dreaded twin deficits; and as the ECB raises rates. Those Europeans talking about Schadenfreude looking at the UK should be aware that while Nos. 10 and 11 are acting like the Mad Hatter and March Hare at the Tea Party, Europe is also living in Wünderland. In fact, it’s hard to make an argument that the EU is not risking becoming the UK with a lag. To hammer home the point, the ESRB regulators report the EU faces ‘severe risks’ to its financial system, with the Ukraine war possibly (only possibly?!) creating a combination of slow growth, falling prices, and market stress. I don’t think the dollar will be down, or the EUR up, for long. Of course, the same is true for GBP. More so when Pill yesterday claimed the BOE did not intervene in the Gilts market to push yields lower (as 30-years collapsed 106bp!), and will not do QE or Yield Curve Control; and neither will it fund the government, or MMT. The only logical function left is a bailout: except that is supposed to be on Bagehot terms: “Lend without limit, to solvent firms, against good collateral, at high rates.” I didn’t see that – did you? As if that was not enough UK “More Tea! More Tea!”, and as suggested earlier this week, PM Truss is now going to push for aggressive state spending cuts to show markets that she is serious about fiscal discipline. So, tax cuts for the rich remain and bankers’ bonuses are back, etc., but we will see huge real-terms declines in social spending across the board into a recession, and even on “geoliberalism” UK soft power like the BBC World Service. In the ultimate marketplace of ideas, democracy, Labour is now up between 17 and 33 points up in the polls, which would imply the Tories will be entirely wiped off the political map. Following the lead of using Macron as a verb in Russian (“Macronit” meaning to talk a lot and then do nothing useful), yesterday saw market chatter of how “to Truss” or to “Truss up” might be used in idiomatic English. (“They really Trussed that up, didn’t they?”) All I would add is that it also works with a Germanic “Truß” – with a lag.   Meanwhile, the Fed sent the message rates are going to keep rising regardless, even if we see a recession, that UK wobbles have as little to do with it as the UK claims its budget has to do with its wobbles, and whispers are that may include only a hairshirt “the discount window is available if you need it” Bagehot safety net ahead. This is revolutionary stuff for markets coddled with liquidity since Greenspan. Are they Trussing up too? Larry Summers, who is being mentioned so often it surely cannot be a coincidence, is saying he sees the present backdrop looking like August 2007. Some think August 2008. In either case, the PBOC is now leaning back towards bubbles again regardless, allowing nearly two dozen cities to lower mortgage rates for purchases of a primary property. The problem is that everyone can see that aside from a few hotspots, property is over-priced and over-supplied, and prices are going to fall anyway now the mania has faded – so why rush to buy? The other problem is that if the PBOC succeed, it means inflation for everyone else. The PMI reading of 50.1 today, up from 49.4, is neither here nor there, but the private Caixin PMI at 48.1 vs. 49.5 expected was there not here. As Mexico just hiked rates 75bp to 9.25%, Bloomberg also notes the RBA faces an uphill battle to not be as hawkish as everyone else. (And does not note “because housing.”) It quotes there are “some lingering issues around credibility and communication,” which reminds me of the quip from Gandhi: “What do you think of Western civilisation?” “I think it would be a good idea.” Of course, the BOJ is still doing its own sweet thing, boosting regular bond purchases this morning to try to cap upwards pressure on yields – which can only mean downwards pressure on JPY. I would write more, but it’s been a hell of a week for me personally, and I am too Trussed up to do so. End of the month, end of the quarter, end of our tethers. Tyler Durden Fri, 09/30/2022 - 15:45.....»»

Category: blogSource: zerohedge4 hr. 34 min. ago Related News

Pivot-Hope-Punisher Powell Leaves Q3 Global Market Bloodbath In His Wake

Pivot-Hope-Punisher Powell Leaves Q3 Global Market Bloodbath In His Wake What a week, month, quarter, year! Q3 saw the end of the beginning of the end of the fun and games and Powell peeing in the punchbowl at Jackson Hole went full Leeroy Jenkins on global markets... The S&P 500 Index is ending this quarter deep in the red (back below 3600), fully erasing an earlier 14% gain that occurred in July through mid-August. All the majors are back in bear market territory, but Small Caps and the Nasdaq are the ugliest horses in this glue factory... (Nasdaq is now below the June 16 lows) As Bloomberg notes, this will mark the first time since 1938 that the benchmark is closing a quarter with a negative return after earlier rising more than 10% and posting the biggest drawdown from a quarterly high in recent decades. The turnaround shows how much hawkish central banks and economic fears are weighing on risk assets, making any rally susceptible to a quick burnout. The S&P 500 has lost $10 trillion in market value... The global bond market is currently undergoing its worst drawdown ever... by along way! Source: Bloomberg While weakness spread across global bonds, it was the US Treasury market that led the way in September with the short-end up over 70bps in yield... Source: Bloomberg 'Fed Pivot' hopes were dashed mid-quarter, sending yields surging higher and the yield curve deeper into inversion... Source: Bloomberg As BofA's rates guru Marc Cabana warns: "Thin UST liquidity & limited demand may make the US market vulnerable to a market functioning breakdown, similar to UK.... Fed could follow BoE in event of extreme UST market functioning breakdown" Rate-hike expectations surged during the quarter, and at the same time, expectations for subsequent recession-saving rate-cuts languished... Source: Bloomberg And as yields rose - and rate-hike expectations soared -  stocks tumbled unable to find enough 'bad news' in macro to prompt more hype/hope of a pivot in September... But the quarterly performance for stocks shows the real swing around Powell's Jackson Hole speech... Source: Bloomberg This week saw all the majors trade lower (despite BoE saving the world midweek briefly) with a notable decoupling between Small Caps (outperforming) and the rest... European stocks were just as ugly in September with UK's FTSE suffering worst... Source: Bloomberg Q3 is the 3rd quarter in a row during which a 'balanced' stock/bond portfolio lost money (if it wasn't for July's gains, this would have been the worst quarter ever for a stock/bond portfolio) Source: Bloomberg The dollar rose for the 4th straight month (and 8th of the last 9) to its strongest since April 2002... Source: Bloomberg Interestingly, Russia's Ruble was the best performing currency (along with the Mexican Peso) while the rest of the world's fiat faded against the greenback... Source: Bloomberg Cryptos ended the quarter higher with Ripple and Ethereum outpeforming (bitcoin was the laggard)... Source: Bloomberg In commodity-land, the strong dollar weighed on everything with Bloomberg's Spot Commodity Index down for the 3rd month of the last 4 and back at its lowest since Jan 2022... Source: Bloomberg Crude and Copper were down hard in September amid global growth fears and hawkish monetary policy talk. Silver managed gains on the month, significantly outpeforming gold... Source: Bloomberg After dropping 13% and 9% respectively in July and August, Americans pump prices for gas were unchanged in September and are now up 10 days in a row... Source: Bloomberg Finally, we note that US financial conditions have tightened dramatically in the last quarter as Powell punched the 'pivot-hopers' in the face... “This week has told us a lot about the transitions going on,” said El-Erian, who is also president of Queens College, Cambridge and a Bloomberg Opinion columnist. “The next few weeks are going to be pretty volatile.” And for all those hoping for a pivot, El-Erian has a few short words: "be careful what you wish for..." “This pivot only happens if you have an economic accident or a financial accident. And the journey to an economic accident or a financial accident is a very painful journey.” Tyler Durden Fri, 09/30/2022 - 16:00.....»»

Category: blogSource: zerohedge4 hr. 34 min. ago Related News

Asia EV 50: Semiconductor is the supply chain"s new linchpin

As a part of 2022 Supply Chain Summit hosted by DIGITIMES Asia, Eric Huang, Vice President of DIGITIMES, talked about the current status and challenges of Asia's EV industry. "In the past, the saying went 'software is eating the world', and followed by 'AI is eating the world'", said Huang, "but now, real men need to have fabs.".....»»

Category: topSource: digitimes5 hr. 18 min. ago Related News

Bitcoin Could Be as Bad for the Planet as Beef

Bitcoin mining’s climate impact is comparable to farming cattle or burning gasoline when taken as a proportion of market value. Bitcoin mining’s climate impact is comparable to farming cattle or burning gasoline when taken as a proportion of market value, according to researchers at the University of New Mexico in Albuquerque. Cryptocurrency mining is energy intensive because it requires highly specialized computers—and most of the electricity it consumes is generated by burning planet-warming fossil fuels. The climate-related economic damage caused by mining the popular digital token, Bitcoin, exceeded its market value on 6.4% of the days it traded between 2016 and 2021, the paper published in Scientific Reports on Thursday found. The study calculated the climate cost of mining Bitcoin against its average market price, and compared it with other commodities like crude oil, gold or beef. That means the results don’t reflect total emissions by these industries, which would be far greater, but their relative impact. [time-brightcove not-tgx=”true”] Read More: Fact-Checking 8 Claims About Crypto’s Climate Impact The climate impact of mining gold, to which Bitcoin is often compared, is just 4% of its average market price on an average year, compared to 35% for the world’s most popular cryptocurrency between 2016 and 2021. And the environmental impact has grown as the cryptocurrency market has matured, calling into question the sector’s overall sustainability. “While proponents have offered (Bitcoin) as representing ‘digital gold,’ from a climate damages perspective it operates more like ‘digital crude,’” the researchers said, signaling the need to find more efficient ways to produce the tokens, or to increase regulation. Mining of Bitcoin, which represents roughly 41% of the global cryptocurrency market, consumed more energy than was used to power entire countries like Austria or Portugal in 2020. The mining of Bitcoin, Ether, Litecoin and Monero coins generated 3 to 15 million metric tons of carbon dioxide emissions from January 2016, to June 2018, according to research cited by the paper. That’s equivalent to the emissions of Afghanistan, Slovenia or Uruguay in 2018. Bitcoin’s carbon footprint also grows over time because, to mine new coins, multiple miners compete to verify transactions on the blockchain. The fact that an ever-growing number of miners compete to solve increasingly difficult operations means the overall energy use rises. That’s why a Bitcoin mined in 2021 would have emitted about 113 metric tons of CO2 equivalent—126 times more than one mined in 2016, according to the researchers. The paper estimates the economic value of that damage at $11,314 for a single Bitcoin mined last year, while the value of total climate damages generated by all Bitcoins mined between 2016 and 2021 could have been as high as $12 billion. Read More: A Crypto Game Promised to Lift Filipinos Out of Poverty. Here’s What Happened Instead In recent months, plunging profit margins from mining Bitcoin have pushed miners to operate more efficient machines—a move that’s resulted in a decline in greenhouse gas emissions from the industry, according to a different report earlier this week. Emissions this year are estimated to be 14.1% lower than in 2021, representing about 0.1% of human emissions globally, and about half of what gold miners generate in absolute terms. Cryptocurrency miners are also ramping up efforts to source a larger share of the energy they consume from renewable sources like geothermal, hydro, solar and wind. Researchers at the University of Albuquerque ran a simulation and concluded that, if renewables like wind and solar had represented 88.4% of the total amount of power used to mine Bitcoin between 2016 and 2021, climate damages would have dropped to just 4% of average market price. Another way to reduce climate impact is to shift to a different mechanism to verify transactions—and produce coins. Ether, the second largest cryptocurrency, this year moved to a mechanism called Proof of Stake, which the study said should reduce its estimated energy use by more than 99%. —With assistance from Muyao Shen......»»

Category: topSource: time5 hr. 18 min. ago Related News

Eurozone Inflation a ‘Grave Concern,’ Jumps to Record 10%

Energy prices were the main culprit, rising 40.8% over a year ago, according to September's reading by Eurostat. FRANKFURT, Germany — Inflation in the European countries using the euro currency has broken into double digits as prices for electricity and natural gas soar, signaling a looming winter recession for one of the globe’s major economies as higher prices undermine consumers’ spending power. Consumer prices in the 19-country eurozone rose a record 10% in September from a year earlier, up from an annual 9.1% in August, EU statistics agency Eurostat reported Friday. Only a year ago, inflation was as low as 3.4%. Price increases were beyond what market analysts had expected and are at their highest level since record-keeping for the euro started in 1997. Energy prices were the main culprit, rising 40.8% over a year ago. Food, alcohol and tobacco prices jumped 11.8%. [time-brightcove not-tgx=”true”] “I’m already looking a lot more for special offers,” said Myriam Maierhofer, a 64-year-old trainer and coach for staff development, who was shopping Thursday at weekly outdoor market in Cologne, Germany. “I don’t throw away so much so quickly, so I’ve become more economical with food. And this morning, I also turned down the heating in the rooms again.” Inflation has been fueled by steady cutbacks in supplies of natural gas from Russia and bottlenecks in getting supplies of raw materials and parts as the global economy bounces back from the COVID-19 pandemic. The Russian cutbacks have sent gas prices soaring to the point where energy-intensive businesses such as fertilizer and steel say they can no longer make some products at a profit. Meanwhile, high prices for utility bills, food and fuel are leaving consumers with less money to spend on other things. That is the main reason economists are predicting a recession, or a severe and long-lasting downturn in economic activity, for the end of this year and the first months of next year. The European Central Bank is raising interest rates to combat inflation by keeping higher prices from being baked into people’s expectations for wages and prices, it but can’t by itself lower energy prices. Friday’s inflation reading was likely to be a matter of “grave concern” for the ECB, said Jessica Hinds, senior Europe economist at Capital Economics. She said the central bank’s rate-setting council was likely to raise its benchmark rates by an outsized three-quarters of a percentage point at its next meeting Oct. 27. Higher interest rates make it more expensive for people and businesses to borrow, invest and spend, dampening demand for goods and thus restraining inflation. Inflation is far above the ECB’s goal of 2% considered best for the economy. Central banks around the world are rapidly raising rates, led by the U.S. Federal Reserve, which is aiming to bring down inflation that hit 8.3% in August. Eurozone inflation has eclipsed the United Kingdom’s 9.9% registered last month. European officials call the natural gas cutbacks from Russia energy blackmail aimed at pressuring and dividing European governments over Western sanctions and their support for Ukraine. Russia blames technical problems. The rising gas prices that have resulted mean higher heating bills and higher electricity costs because natural gas is used to generate power, heat homes and run factories. European Union energy ministers on Friday adopted a windfall levy on profits by fossil fuel companies and other measures to ease the energy crisis, while individual countries also have allocated hundreds of billions to provide relief to households and businesses. With consumer prices in Germany rising by 10.9%, hitting double digits for the first time in decades, the government announced plans to spend up to 200 billion euros ($195 billion) to help with surging gas bills in Europe’s largest single economy. Chancellor Olaf Scholz said Thursday that the government was reactivating an economic stabilizing fund previously used during the global financial crisis and the coronavirus pandemic. Christian Schrader, 35, who was shopping at the market in Cologne, was less worried about food prices but said that “you start to think about which rooms need to be heated in the flat and try to explain to the children that we only play in one room.” A bigger worry was “the social dimension,” he said. “Inflation has often been a driver for social division, for extreme tendencies, for populism. This dimension worries me more.” ___ AP reporter Daniel Niemann contributed from Cologne, Germany......»»

Category: topSource: time5 hr. 18 min. ago Related News