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☆ China's yuan is emerging as a strong challenger to the dollar's dominance. Here are 5 countries that recently turned to the yuan instead of the USD for trade.
  + stars: | 2023-05-09 | by ( Huileng Tan | ) www.businessinsider.com   time to read: +2 min
China's yuan is gaining increasing usage globally, pointing to the de-dollarization of transactions worldwide — graduallyChina's yuan slid on Monday. Future Publishing/Getty ImagesThe US dollar has been the world's reserve currency since the second world war, playing an outsized role in the world's trade. Amid these dire tidings, the Chinese yuan is seizing the opportunity and is mounting a challenge to the dollar's dominance. Of course, it does create a desire on the part of China, of Russia, of Iran to find an alternative," Yelled said. Read further for five countries that have recently turned to the yuan for trade and other transactions — either to skirt sanctions or as an alternative to the greenback.
☆ Investors Are Piling Into Actively Managed ETFs
  + stars: | 2023-05-02 | by ( Jack Pitcher | ) www.wsj.com   time to read: 1 min
Investors are pouring money into actively managed exchange-traded funds, underscoring the appeal of active strategies after years of calls for passive index investing to take over. Active funds still make up a sliver of the roughly $7 trillion ETF market—less than 6% of total assets—but have attracted about 30% of the total flows to ETFs so far this year, according to Bloomberg Intelligence. That follows a banner year for active ETFs in 2022, when they gathered roughly 14% of total flows.
☆ Boeing has a delivery problem and it's not good for the airlines that rely on its planes
  + stars: | 2023-04-15 | by ( Taylor Rains | ) www.businessinsider.com   time to read: +6 min
These include the MAX 7, MAX 8, and the MAX 8200, which is a high-capacity version of the MAX 8 variant. American has 42 MAX planes in its fleet and 88 on order. The carrier has 137 MAX planes in its fleet with firm orders for 417, plus another 147 as options. Though Boeing and its partners are still assessing the impact of the most recent delivery stoppage, delivery delays have become a serious trend for the planemaker. And, Boeing said despite its recent 787 delivery pause, it didn't "anticipate a change to our production and delivery outlook for the year."
☆ Wall Street says TikTok CEO Shou Zi Chew had a 'disaster' day in Congress — but the internet is loving him
  + stars: | 2023-03-24 | by ( Reena Koh | Nidhi Pandurangi | ) www.businessinsider.com   time to read: +6 min
On Thursday, TikTok CEO Shou Zi Chew appeared before the House Committee on Energy and Commerce. Wall Street slammed Chew's testimony, dubbing it a "disaster moment" for TikTok. The video has over 1.2 million views, over 215,000 likes, and a range of comments expressing their approval for Chew. Two days before the Congressional hearing, TikTok's official account shared a rare video of Chew casually introducing himself to people. In the video, Chew gave context about the hearing and asked viewers to tell him what they enjoyed about the app.
☆ The TikTok CEO's day in Congress was a 'disaster' that means the app will still likely get banned or sold, Wall Street says
  + stars: | 2023-03-23 | by ( Paayal Zaveri | ) www.businessinsider.com   time to read: +5 min
TikTok CEO Shou Zi Chew testified in front of US Congress, amid calls for a forced sale or ban. But after hours of grilling, the testimony likely had the opposite effect. A sale or ban of TikTok is still likelyWithout a radical shift in the conversation, the status quo is upheld. Which means that the same question is now being asked: Is TikTok more likely to be forced to sell, or will it be banned outright? "It's very possible that Congress advances these bills and, and passes them, but those bills won't ban TikTok," he said.
☆ The TikTok CEO's day in Congress was a 'disaster' that failed to prove a sale or ban isn't the only way forward, Wall Street says
  + stars: | 2023-03-23 | by ( Paayal Zaveri | ) www.businessinsider.com   time to read: +5 min
TikTok CEO Shou Zi Chew testified in front of US Congress, amid calls for a forced sale or ban. But after hours of grilling, the testimony likely had the opposite effect. Thursday's hearing likely gave lawmakers even more fuel for the argument in favor of a sale or a ban. A sale or ban of TikTok is still likelyWithout a radical shift in the conversation, the status quo is upheld. "It's very possible that Congress advances these bills and, and passes them, but those bills won't ban TikTok," he said.
☆ TikTok may have few buyers, even among Big Tech. Here's who experts say could acquire it.
  + stars: | 2023-03-17 | by ( Dan Whateley | Paayal Zaveri | Grace Kay | ) www.businessinsider.com   time to read: +7 min
The Biden administration and CFIUS are pushing for a sale of TikTok in the US. The Chinese government could also block a TikTok sale outright before bidding kicks off. But the list of companies that would actually consider buying TikTok is small, experts told Insider. "I think Microsoft would be one of the only big money, big company possibilities." Ultimately, separating TikTok's US operations, whether in a sale to a big tech firm or a spin off, is complicated.
☆ How to invest in the ChatGPT-driven AI boom: Credit Suisse shares 6 stocks they're labeling as "top picks" as their exposure to AI development opens them up to new revenue streams
  + stars: | 2023-03-05 | by ( William Edwards | ) www.businessinsider.com   time to read: +5 min
Badri's price 12-month price target for shares of Microsoft is $285. The analysts said that growing AI use cases will help Taiwan Semiconductor Manufacturing Company and their high performance computing business, which has already doubled since 2016. Credit Suisse's 12-month price target for the stock is $330, which is upside of 16%. Chou has a price target of NT$1,100 for the stock, meaning 13.5% upside. Both Taiwan Semiconductor Manufacturing Company and Baidu are traded on US exchanges, while Accton and Wiwynn are traded in Taiwan.
☆ Artificial intelligence is on the brink of an 'iPhone moment' and can boost the world economy by $15.7 trillion in 7 years, Bank of America says
  + stars: | 2023-03-01 | by ( Phil Rosen | ) www.businessinsider.com   time to read: +3 min
Bank of America strategists predicted artificial intelligence will revolutionize everything as it teeters on its "iPhone moment." Bank of AmericaLarge language models like ChatGPT make massive amounts of information accessible to everyone, without high barrier to entry or required training. In addition, the exponential rate of technological development suggests that, within a decade, AI models could be a million times more powerful than they are today. Meanwhile, UBS is forecasting that the artificial intelligence hardware and services market will reach $90 billion by 2025. In 2020, it was worth about $36 billion, per IDC and Bloomberg Intelligence data.
☆ AI is set to boom into a $90 billion industry by 2025 as ChatGPT generates investment frenzy, UBS Wealth Management CIO says
  + stars: | 2023-02-28 | by ( Morgan Chittum | ) www.businessinsider.com   time to read: +3 min
UBS predicted that the artificial intelligence hardware and services market will hit $90 billion by 2025. "We think the early success for chatbots could drive attract more technology talent, and drive faster adoption by enterprises and governments," UBS said. "We think the early success for chatbots could drive attract more technology talent, and drive faster adoption by enterprises and governments," Marcelli added. The market forecast predicates itself on AI being a "horizontal technology," meaning that it has important use cases across various industries. Investors are taking advantage of the frenzy, with a boost in share price for certain companies that integrate or use AI.
☆ Tesla will be the winner of the electric vehicle market by leading the charge on AI and energy, Ark Invest's Cathie Wood says
  + stars: | 2023-02-23 | by ( Jennifer Sor | ) www.businessinsider.com   time to read: +2 min
Tesla will be the leader of the EV market, as the company is leading the charge in key areas, Cathie Wood said. Wood predicted Tesla stock would jump to $1,500 in five years, implying a 650% increase from current levels. They're focused on autonomous," Wood said in a Bloomberg Intelligence webinar posted on Thursday. In addition to robotics and artificial intelligence, which will power autonomous electric vehicles, she also pointed to energy storage, saying advances in battery technology will give electric vehicles lower costs than typical gas-powered vehicles. That's because they aren't focusing enough on autonomous vehicles, and Tesla models are also of higher quality, she said.
☆ Wall Street's expectations for AI's influence on markets are skyrocketing, JPMorgan survey says
  + stars: | 2023-02-01 | by ( Phil Rosen | ) www.businessinsider.com   time to read: +2 min
Amid the recent hype surrounding ChatGPT, Wall Street increasingly anticipates artificial intelligence will change how markets operate. A JPMorgan survey found that 53% of traders believe AI will be the technology with the biggest influence on future trading. To be sure, AI technology has been revolutionizing Wall Street for years. Meanwhile, the hype created by ChatGPT has sent artificial intelligence stocks like Nvidia surging recently. The craze has even sent some obscure small-cap artificial intelligence stocks soaring too.
☆ Nike faces 3 obstacles that could threaten its dominance
  + stars: | 2023-01-14 | by ( Matthew Kish | ) www.businessinsider.com   time to read: +4 min
New Adidas CEO Bjørn Gulden could reinvigorate the rivalry with Nike. Top of mind with stock pickers: Nike needs to shed inventory and get sales growing more in China. Where is the next leg of growth going to come from? Before the December earnings report, Simeon Siegel, managing director for equity research at BMO Capital Markets, told Insider Nike appeared to be turning a corner in China. Analysts also think new Adidas CEO Bjørn Gulden, who previously worked as CEO of Puma, could reinvigorate the rivalry with Nike.
☆ Why sneaker prices are at a 40-year high, with one economist comparing them to an 'erratic' EKG
  + stars: | 2023-01-06 | by ( Matthew Kish | ) www.businessinsider.com   time to read: +4 min
Footwear prices increased more in 2022 than in any of the previous 40 years. A sneaker economist expects footwear inflation to moderate this year. That goes for sneaker prices, too. Through November, footwear prices were up 4.96% in 12 months, while inflation was running at 7.1%. "It was unlike anything the industry had ever seen before," he told Insider, describing footwear prices the last few years as "suddenly erratic, like an EKG."
☆ Finding Nikes in stores will get a lot harder in 2023 and that could give rivals like Hoka and Hey Dude a big boost
  + stars: | 2022-12-28 | by ( Matthew Kish | ) www.businessinsider.com   time to read: +5 min
"They just entered Foot Locker over the summer and are only in a small slice of their massive store footprint. Nikic said On and Hey Dude could follow similar trajectories next year. In a recent note, Williams Trading analyst Sam Poser said Hey Dude could hit $1 billion in fiscal year 2022 sales. Poser recently met with the management of Crocs, which bought Hey Dude this year. "This quarter, we spent a lot of time with Mary Dillon and her team at Foot Locker," Donahoe added.
☆ Republicans went after BlackRock and sustainable investing in 2022. Meet 12 officials crusading against 'woke capitalism.'
  + stars: | 2022-12-28 | by ( Rebecca Ungarino | ) www.businessinsider.com   time to read: +14 min
A group of vocal conservative officials are criticizing aspects of ESG investing. Players in the ESG ecosystem, like S&P Global and BlackRock, the world's largest money manager and an influential proponent of ESG investing, are often the subject of their critiques. Instead, officials often paint large financial firms' ESG strategies as functions of left-leaning agendas. Here are key GOP players who are taking aim at ESG investing. Abbott, who is seeking reelection in November, was early to denouncing ESG investing.
☆ 3 things that should be worrying Nike
  + stars: | 2022-12-26 | by ( Matthew Kish | ) www.businessinsider.com   time to read: +4 min
New Adidas CEO Bjørn Gulden could reinvigorate the rivalry with Nike. Top of mind with stock pickers: Nike needs to shed inventory and get sales growing more in China. Analysts are also wondering how much competition Nike will face from Adidas under its new CEO Bjørn Gulden. Before the December earnings report, Simeon Siegel, managing director for equity research at BMO Capital Markets, told Insider Nike appeared to be turning a corner in China. Analysts also think new Adidas CEO Bjørn Gulden, who previously worked as CEO of Puma, could reinvigorate the rivalry with Nike.
☆ Market overhaul pits perfect against good-enough
  + stars: | 2022-12-14 | by ( Ben Winck | ) www.reuters.com   time to read: +4 min
At present, more than 90% of individual investors’ trades are sold to a small group of market-makers, according to the agency. The profit that middlemen make from handling retail stock trades suggests Gensler has a point. The trouble is that retail investors have, in some ways, never had it so good. The changes reflect the largest overhaul of market rules since the agency introduced the Regulation National Market System framework in 2005. The proposals range from new disclosures on execution quality to an auction system for individual investors’ stock trades.
☆ SEC Chair Gary Gensler tees up changes to how the stock market operates
  + stars: | 2022-12-13 | by ( Bob Pisani | ) www.cnbc.com   time to read: +8 min
These wholesalers may send the orders to exchanges, but often match the orders against their own internal order flow. However, Gensler has claimed that pension funds and other institutional investors are not able to interact with that retail order flow. Execution quality disclosure Market participants are required to submit monthly reports indicating how well they are executing client orders. Gensler has said investors today need a better understanding of how well their trading orders are being executed. Gensler's broad agenda The proposals on market structure are part of a broad agenda Gensler has undertaken this year.
☆ Apple is ready to leave China as COVID-19 protests delay iPhones past Christmas. That could take a decade and cost billions.
  + stars: | 2022-12-07 | by ( Emilia David | ) www.businessinsider.com   time to read: +6 min
China's "zero COVID" policy has hit Apple's supply chain, causing delays on iPhone production. But any shift out of China won't be quick, with over 35% of the factories supplying Apple located in China. Some estimates say it will take until the end of the decade to move 10% of Apple's iPhone manufacturing out of the country. There are 28 Apple suppliers in Vietnam, or 3.8% of the total listed by Apple. Onshoring iPhone production?
☆ Meet 12 Republican officials crusading against BlackRock and ESG investing
  + stars: | 2022-12-01 | by ( Rebecca Ungarino | ) www.businessinsider.com   time to read: +14 min
A group of vocal conservative officials are criticizing aspects of ESG investing. Players in the ESG ecosystem, like S&P Global and BlackRock, the world's largest money manager and an influential proponent of ESG investing, are often the subject of their critiques. Instead, officials often paint large financial firms' ESG strategies as functions of left-leaning agendas. Here are key GOP players who are taking aim at ESG investing. Abbott, who is seeking reelection in November, was early to denouncing ESG investing.
☆ Elon Musk points to Volkswagen's Nazi links after Alyssa Milano swaps her Tesla for a VW over 'hate and white supremacy' on Twitter
  + stars: | 2022-11-27 | by ( Ryan Hogg | ) www.businessinsider.com   time to read: +3 min
Alyssa Milano tweeted that she had traded in her Tesla for a Volkswagen and "loved it." Elon Musk liked a response pointing out that VW was founded by Adolf Hitler's government. Publicly traded company's products being pushed in alignment with hate and white supremacy doesn't seem to be a winning business model." Milano is one of many celebrities to voice their opposition to Musk's Twitter, which saw a spike in hate speech following his takeover. A study by Bloomberg Intelligence predicted the German automaker would dethrone Tesla as the world's biggest EV maker by 2024.
☆ China locks down major iPhone making city as Covid cases jump to a record high, sparking concerns that lockdowns could stretch beyond 2023
  + stars: | 2022-11-24 | by ( Huileng Tan | ) www.businessinsider.com   time to read: +3 min
China posted a record number of daily Covid cases on Wednesday, amid a surge in the Omicron strain. It stepped up lockdowns in affected areas such as Zhengzhou, home to the world's largest iPhone plant. The restrictions come amid a surge of COVID-19 infections in China. China reported a record high 31,444 local infections for Wednesday, including asymptomatic cases, according to the country's National Health Commission. Despite the surge in COVID-19 infections in China, the Chinese and Hong Kong markets are flat at midday on Thursday.
☆ Plant-based meat startup Heura just raised $20 million as it aims to become Europe's industry leader. Here's the 35-slide pitch deck it used to raise the funds.
  + stars: | 2022-10-25 | by ( Tasmin Lockwood | ) www.businessinsider.com   time to read: +3 min
Spanish alternative protein startup Heura just raised $20 million through a crowdfunding campaign. We got an exclusive look at the 35-slide pitch deck it used to raise the funds. Alternative protein startup Heura just raised 20 million euros (around $20 million) as sales of its alternative meats more than doubled in the first half of the year. The pair set about creating healthy meat alternatives that look, feel, and taste like animal-based meat while just using plant-based ingredients. Heura remains committed to growing the plant-based food sector across Europe, as it has done in Spain, Añaños told Insider.
☆ Bernie Sanders and Elizabeth Warren blast the $25 billion merger between grocers Kroger and Albertsons, one calling it an 'absolute disaster' for consumers
  + stars: | 2022-10-14 | by ( Avery Hartmans | ) www.businessinsider.com   time to read: +3 min
Senators Bernie Sanders and Elizabeth Warren blasted the Kroger-Albertsons merger. Sanders called it "an absolute disaster" for consumers that would result in higher grocery costs. The grocery store chains announced Friday that they've entered into a merger agreement that values the combined company at about $24.6 billion. "That's good for small businesses, it's good for consumers, and it actually, in many cases, reduces the need for regulatory oversight. And without local competition offering lower prices, consumers are stuck with nowhere else to stop.
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