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GameStop extends 2-day surge to 278% as Reddit meme stocks find renewed life(...)GameStop's spike was spurred by a spike in final hour of regular market hours on Wednesday, after a session that saw trading in the stock halt multiple times due to volatility. The video-game retailer came back into focus after it announced the resignation of its chief financial officer, Jim Bell.Sources told Insider Bell didn't actually resign voluntarily, but was forced out by the board as part of a push by activist investor Ryan Cohen. The board aims to make way for an executive that is more in line with Cohen's strategic vision.
Winners and Losers in the Digital Transformation of Work, MICHAEL SPENCE(...)While it is impossible to say for sure at this early stage, there is reason to believe that the transition costs of this new round of work-related disruptions will be experienced more broadly across the income spectrum than the first. At the low end of the income spectrum globally, advances in artificial intelligence and robotics will disrupt and eventually displace labor-intensive manufacturing – and the development models that depend on it. At the high end, machine learning-based capabilities will have a major impact on scientific research and technological development, as well as high-end professional services.The fact remains, however, that we are dealing with highly complex transitions, not equilibria: and we cannot expect natural adaptation by workers and labor markets to produce equitable results, especially with huge differences in household resources as a starting point. That is why policymakers (in partnership with business, labor, and schools) must focus on measures to reduce income and wealth inequality, including ensuring broad access to high-quality social services like education and skills training. In the absence of this kind of intervention, there is a significant risk that the digital transformation of work will leave many people behind, with adverse long-run consequences for social cohesion.
Europe kicks off bid to find a route to 'better' gig work(...) "The platform economy is here to stay -- new technologies, new sources of knowledge, new forms of work will shape the world in the years ahead," said Vestager, segueing into a red-line that there must be no reduction in the rights or the social safety net for platform workers (NB: The word 'should' is doing rather a lot of heavy lifting here): "And for all of our work on the digital economy, these new opportunities must not come with different rights. Online just as offline, all people should be protected and allowed to work safely and with dignity.""The key issue in our consultations is to find a balance between making the most of the opportunities of the platform economy and ensuring that the social rights of people working in it are the same as in the traditional economy," she also said, adding: "It is also a matter of a fair competition and level playing field between platforms and traditional companies that have higher labour costs because they are subject to traditional labour laws."(...)
EU targets online platforms after Wall Street short squeezeLONDON (Reuters) - Online platforms like Robinhood in the United States that offer commission-free share trading to retail investors would be illegal in the European Union, officials from the bloc said on Tuesday.Online trading came to the fore last month after retail investors following the Reddit forum WallStreetBets piled into GameStop Corp shares via the Robinhood platform, sending the retailer's stock rocketing more than 1,000% at the expense of prominent investors who had bet against the stock.Ugo Bassi, a senior official in the European Commission's financial services unit, said the EU executive had looked at "payment for order flow" under three aspects of the bloc's securities law.This refers to a broker rewarding an online platform for funnelling trades to it."The preliminary conclusion that we came to is that the combination of these three sets of rules would prevent a payment for order flow as it was described in GameStop and Robinhood from being legal and authorised in Europe," Bassi told the European Parliament.Steven Maijoor, chairman of the European Securities and Markets Authority, the EU's markets watchdog, added it was difficult to reconcile payment for order flow "with putting the client first".Holders of a short position in stocks must disclose it to EU regulators and Bassi said potential changes could include publishing which stocks have short positions on a weekly or fortnighly basis."We could think of rules clarifying the duties of brokers or investment advisors and their firms when they participate in online chat rooms," Bassi said.Maijoor said there were only 20 stocks in Europe with net short positions of above 10%, limiting the risk of a GameStop-style short squeeze.Online communities of retail investors were still mainly national in the EU, giving them less clout than in the far bigger U.S. market, Maijoor said.He cautioned about going too far in penalising short-sellers, saying they can help markets work well, referring to collapsed German payments company Wirecard."In the Wirecard case, there were short-sellers wanting to get the accounting fraud to the surface," Maijoor said.
US dashes Boris Johnson’s hopes of quick post-Brexit trade deal by announcing ‘review’ of talksBrakes slammed on negotiations to reassess ‘developments’ and confront ‘pandemic reality’The US has dashed Boris Johnson’s hopes of a quick post-Brexittrade deal, announcing a “review” of the negotiations so far.Joe Biden’s pick to be his trade envoy slammed the brakes on the talks, pointing to a lot of “developments” since they began in 2018 and the priority of defeating the Covid-19 threat.There was a need to “review the discussions and the negotiations so far, in the light of all of these developments”, Katherine Tai told a confirmation hearing.A deal with Washington has assumed totemic importance for Brexit supporters and their claims of a new ‘Global Britain’, despite what trade experts see as negligible economic gains.(...)
https://blogs.elconfidencial.com/sociedad/espana-is-not-spain/2021-02-25/vivienda-compra-venta-alquiler-desigualdad_2964979/El mayor problema de España es la vivienda y el PSOE pasa de arreglarloTengo una amiga en Madrid cuya madre, que era una profesora de Secundaria tirando a 'hippy', decidió comprar un piso y una buhardilla por cuatro duros en un edificio de la calle Espíritu Santo cuando aquello era un pinchadero de yonquis. Aquella decisión, en apariencia loca, hizo más por el bien de sus dos hijas que obligarlas a estudiar. De las carreras, solo una de las dos ha logrado sacar un buen curro, pero las dos tienen donde caerse muertas.
Rocket Mortgage Rides Housing Boom to 277% Profit Increase(Bloomberg) -- Rocket Companies Inc., one of the nation’s largest mortgage lenders, reported a 277% increase in quarterly profit, punctuating a record-setting year as the home-loan specialist rode the U.S. housing rally.The company posted adjusted revenue that beat estimates. And with a ten-fold increase in net income last year to $9.4 billion, Rocket declared a special dividend of $1.11 per share, according to a statement on Thursday. Shares surged as much as 7.8% to $21.46 in late trading.“We successfully drove growth in every segment of our business,” Rocket Chief Executive Officer Jay Farner said in the statement.The pandemic real estate boom gave a major boost to the mortgage industry, which posted record loan volume and profits in 2020 as rates dipped to historic lows. Much of that was thanks to the Federal Reserve, which kept a lid on borrowing costs and bought mortgage bonds as part of its bid to stimulate the economy.But profitability may have peaked. Rocket reported a 4.41% profit margin on newly originated loans last quarter, well above the company’s November estimate of 3.8% to 4.1%. It told investors on Thursday to expect margins on new loans this quarter to be around 3.6% to 3.9%.Mortgage lenders have been warning investors in recent weeks that profitability won’t expand this year. UWM Holdings Corp., the parent company of United Wholesale Mortgage, said profits on new loans this quarter could fall by as much as one-third from last year’s fourth quarter.Mr. Cooper Group Inc., meanwhile, said this week that its gains on mortgage sales -- lenders generally sell the loans they originate -- will be roughly flat this quarter.Mortgage rates in the U.S. rose this week to the highest level in six months, threatening to snuff out the mortgage rally. And with Treasury yields ticking higher, borrowing costs could continue to climb.That could deter more Americans from seeking to refinance debt, while surging home prices are pushing ownership out of reach for many.Mortgage applications fell to a nine-month low last week, while pending home sales last month dropped to a six-month low.
https://www.elsaltodiario.com/opinion/pablo-carmona-isidro-lopez-estafa-sareb-viviendas-socialesLas viviendas sociales y el tocomocho de la SarebCon el acuerdo alcanzado con el Gobierno, Sareb consigue endosar su parque de vivienda más deteriorado a las administraciones públicas.
Analysis: Hedge funds worry about market fallout from Tesla, ARK and spiking yields(Reuters) - Some hedge fund managers are getting concerned about the money that has flooded into high-flying stocks like Tesla and the popular ARK fund as bond yields spike and growth stocks take a hit.(...)Growth stocks like technology with longer duration cash flows can be sensitive to rising yields as those flows are discounted at higher rates.“Many of these momentum stocks trade at valuation levels well above historical norms, which have been justified by the low-rate environment,” said Greenwald. “To the extent rates continue to rise, we would expect these stocks to continue to underperform the broader market.”Andy Pauly, managing partner at Warwick Investment Management, said “rapidly growing companies that are being priced on cash flows 10-20 years in the future are vulnerable to rising yields.”That has been seen in the sharp divergence between growth and value stocks this year with the S&P 500 growth index nearly unchanged in February, sharply underperforming the value index, up more than 7% on optimism of a post-pandemic reopening of the economy.Troy Gayeski, co-chief investment officer at SkyBridge Capital, which invests with some of Wall Street’s largest hedge funds, said hedge funds didn’t have too many growth or momentum stocks in their portfolios because they knew that “sooner or later ... a lot of the global growth names are going to struggle.” “The larger, more well-established firms are well aware of this bias, well aware of this risk, have spent an inordinate amount of time making sure they’re not overly exposed,” said Gayeski.
El 95% de los centros comerciales ha rebajado el alquiler a sus localesTras casi un año de pandemia, en el que se han multiplicado las protestas de los comercios contra sus caseros, sólo el 5% de los arrendatarios no ha llegado a un acuerdo
Así se han disparado los impagos entre empresasLos impagos entre empresas se disparan al mayor nivel desde 2014 y afectan al 5,4% de la facturación. El 31% de las compañías encuestadas por la Plataforma Multisectorial contra la Morosidad nota un aumento en las facturas sin cobrar y el 50%, un mayor retraso en los pagos.
Las empresas pierden un 14,2% de facturación en 2020, el mayor golpe en 11 añosLa pandemia de coronavirus provoca la mayor reducción de ventas en las empresas españolas desde el comienzo de la crisis financiera internacionaLa pandemia ha devuelto a las empresas españolas a una situación tan delicada como la que atravesaron en el año 2009 en los primeros compases de la crisis financiera internacional. La facturación se ha desplomado al cierre del 2020 un 14,2% en un contexto marcado por la caída del consumo y las restricciones sanitarias. Es el golpe más fuerte de los últimos 11 años.El informe sobre el Índice de Cifra de Negocios Empresarial publicado por el Instituto Nacional de Estadística (INE) muestra una fotografía demoledora, en la que todas las actividades económicas han protagonizado retrocesos a lo largo del último año como consecuencia de la crisis de la Covid-19. Se ha roto con una tendencia de seis años consecutivos de incrementos.El mayor golpe lo ha vuelto a sufrir el área de los servicios no financieros, que han hundido sus ventas un 22,2% en los doce meses del 2020. Es el sector que engloba a las empresas de la hostelería, que han concentrado el volumen más grande de pérdidas de todo el país, tras la imposición de severas medidas en todas las comunidades autónomas.El comercio, que también ha notado con fuerza las restricciones sobre las actividades no esenciales, ha reducido su facturación un 11,9%. Le sigue el sector industrial (-11,7%) y el suministro de energía y agua (-10,1%).
Guindos pide ayudas directas a las empresas para evitar insolvenciasLuis de Guindos, vicepresidente del Banco Central Europeo (BCE), advirtió ayer del peligro de retirar rápido los estímulos que han permitido a muchas empresas enfrentarse a las duras consecuencias de la crisis. “Es muy importante hacerlo con cuidado, de forma equilibrada, porque si se hace mal puede haber un efecto indeseado en quiebras, más morosidad, repercutirá en el crédito y entraremos en un círculo vicioso”. El acento está ahora en el largo plazo: “Hubo un problema de liquidez al principio y ahora los problemas de solvencia van a ser más y más importantes, por lo que las transferencias directas tienen que jugar su papel” .(...) En cualquier caso, añadió, “los beneficios han caído mucho para muchas empresas y los estados tienen que ayudar a que sobrevivan aquellas que eran viables antes de la pandemia”. Esto, en un primer momento, se tradujo en las líneas ICO y los ERTE, entre otras. Ahora, hace falta otro tipo de iniciativas.(...)Otro de los puntos que tocó De Guindos fue el momento en el que los estados deberán volver a la disciplina fiscal. Esta hora no ha llegado, pero lo hará cuando la crisis sanitaria esté superada. “La primera línea de defensa de la pandemia fue la política fiscal, no hubo alternativa, y eso disparó los déficit de los estados”, insistió el banquero. “Cuando acabe la pandemia, que acabará, veremos su legado: más deuda pública y más deuda corporativa en todos los países europeos”. Entonces, “los déficits tendrán que reducirse y abordaremos los planes de consolidación fiscal”, concluyó De Guindos.
https://www.lavanguardia.com/economia/20210226/6260019/guindos-pide-ayudas-directas-empresas-evitar-insolvencias.html
Las cinco etapasLas cinco etapas del colapso según Dmitry Orlov son:1) Colapso financiero, los bancos ya no responden, se pierde el acceso al capital y las inversiones financieras se reducen a nada.2) Colapso comercial, tiendas vacías, monedas devaluadas3) Colapso político, el gobierno ha perdido su legitimidad y ya no es un recurso4) Colapso social: las instituciones sociales ya no cumplen su función protectora5) Colapso cultural: la gente pierde su capacidad de benevolencia, honestidad, caridad.Cada etapa del colapso puede conducir fácilmente a la siguiente y pueden superponerse. Aunque las diferentes etapas del colapso se entrenan entre sí de diferentes maneras, el autor sostiene que tiene sentido mantenerlas conceptualmente separadas . Esta clasificación se justifica por el hecho de que sus efectos en nuestra vida diaria son bastante diferentes. Además , los medios constructivos que podamos encontrar para evitar estos efectos también serán diferentes. Finalmente, ciertas etapas del colapso parecen inevitables, mientras que otras pueden evitarse y es sin duda el principal objetivo del libro que para advertir al público para ayudarlos a hacer frente al colapso .
Cita de: Derby en Febrero 26, 2021, 08:25:43 amhttps://www.lavanguardia.com/economia/20210226/6260019/guindos-pide-ayudas-directas-empresas-evitar-insolvencias.htmlTan pronto como se haga oficial que el verano 2021 está perdido empezará el baile.