BUSINESS AND MONEY
Ritz Herald 5, Jul 3 mins
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The Ritz Herald
PHOTO CREDIT: The New York Stock Exchange (NYSE) before the Opening Bell on February 6, 2018 in New York City
Expectations for a downturn in equity market performance begins to influence institutional allocation intentions as investors prepare for the year ahead

Abraxas GAM, the New York and Hong Kong based provider of alternative asset management solutions, has reiterated that the large majority of its institutional client base believes that value throughout global equity markets has peaked as sentiment widely suggests that markets are overdue a sizeable and imminent correction.

After 2019 began with widespread selloff, markets again rallied with the S&P 500 index ending for the first half of 2019 17.4 percent up. Whilst the early correction was welcomed by some as needed, assets remain overvalued as the excessive effects of quantitate easing have indiscriminately inflated prices over the past decade.

“The state of the market continues to present investors with a series of challenges as they look to manage risk through turbulent conditions. Whilst equities have in large rewarded investors over the past 12 months, we believe that assessing portfolio allocations during this time should be a foremost concern as portfolios prepare for what is likely to be a volatile run towards the end of 2019,” commented Lex Anderson, senior market analyst, Abraxas Global Asset Management New York.

“Over the past 18 months, we have noticed a significant shift in institutional allocations as the majority of our clients have diversified their holdings into alternative positions, specifically through hedge fund placements and secondary market private transactions. We expect this pattern to gather momentum as the year continues to unfold,” continued Mr. Anderson.

With a number of high-profile political events set to unravel during the second half of 2019, analysts at Abraxas GAM believe that risk-adjusted measures should be taken through by increasing positions that are less correlated to equity market exposure.

“The repercussions on wider market…

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Cautious Executives are Preparing for an Economic Downturn, TD Bank Survey Reveals
The Ritz Herald

When it comes to preparing for the future, U.S. businesses are acting with caution. Although 83 percent of respondents have an overall positive outlook on the future of the economy, more than half (58 percent) are preparing for an economic downturn, according to a newly released Corporate Finance Survey…

Americans’ Summer Vacation Spending Expected to Hit Record $101.7 Billion in 2019
The Ritz Herald

Americans are planning to spend more on their summer vacations this year than they have in at least a decade. Allianz Global Assistance‘s 11th annual Vacation Confidence Index estimates the total spend will cross the $100 billion mark for the third consecutive year in the…

Existing-Home Sales Ascend 2.5% in May
The Ritz Herald

Existing-home sales rebounded in May, recording an increase in sales for the first time in two months, according to the National Association of Realtors®. Each of the four major U.S. regions saw a growth in sales, with the Northeast experiencing the biggest surge last month.

Total…

Thomson Reuters to Acquire Confirmation
The Ritz Herald

Thomson Reuters (TSX/NYSE: TRI) today announced that it has signed a definitive agreement to acquire Confirmation, a leading provider of secure audit confirmation services. Confirmation has a 19-year history of providing digital confirmation services to more than 16,000 audit firms, 4,000 banks and departments and 5,000 law firms across…

SMB Economic Optimism Falls to Lowest Point since 2016 Presidential Election, Workforce Expansion Outlook Remains Strong
The Ritz Herald

Confidence in the economy among small and midsize businesses CEOs continues to decline, falling to 91.6 in Vistage’s Q1 2019 CEO Confidence Index. The index is down from 95.4 recorded in Q4 2018 and 105.8 in Q1 2018. Despite the continued drop-off and the growing number of CEOs believing…

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PHOTO CREDIT: Consumers now dominate in Asia’s growth outlook, but the story varies enormously by country
The Ritz Herald
As uncertainties remain elevated, strong confidence levels may not translate into more spending

Consumers across major global markets – including China, India, Indonesia, the United States, and Germany – remain confident, according to The Conference Board® Global Consumer Confidence Index. Large improvements are seen in several major economies, including France, South Korea and Turkey, while confidence waned in Brazil, Canada, Mexico and the United Kingdom. Overall, a smaller number of markets are seeing further improvements in confidence. High levels of confidence may therefore not translate into greater spending in the coming quarters, amid growing economic and geopolitical uncertainties.

Globally, The Conference Board® Global Consumer Confidence Index, conducted in collaboration with Nielsen, increased slightly in the second quarter to 107, up from 106 in the first quarter. The index has been relatively flat in recent quarters, hovering at historically high levels since late last year. Consumers are likely to sustain spending, but more cautiously amid a slowing global economy. Looking ahead, rising uncertainties related to trade disputes and geopolitical imbalances may create a more volatile scenario in which consumers will grow increasingly vigilant regarding their spending.

  • Improvements Uneven Across Regions

Confidence levels strengthened in several mature and emerging markets. However, the strengths and weaknesses among the regions were not as balanced as in Q1. Now,…

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PHOTO CREDIT: EPA. Slack shares soar 50% on Wall Street debut, valuing messaging app at $25bn
The Ritz Herald
Companies focused on integrating technology to strengthen content or media delivery are likely to out-perform pure technology or media businesses

The most innovative companies in the United States and global stock markets are not shielded from significant challenges in terms of stock market performance, according to two new indexes which The Conference Board will begin publishing today.

The indexes, which measure the financial performance of innovative companies, show they generate better financial performance in the long run relative to their benchmarks. However, moving into the third quarter, the indexes predict that companies in the Electronic Technology Manufacturing sector are facing the greatest challenges from global trade disputes and geopolitical uncertainties, while those focusing their innovations on data management are demonstrating the greatest resilience in the global market.

The Conference Board Innovation α Index Powered by M•CAM is developed by M•CAM, an investment firm that analyzes intellectual property and intangible assets to support credit and equity products. It consists of two indexes which rank and identify the 100 most innovative US companies in the Russell 1000 universe of companies and the 120 most innovative global companies in the MSCI World Index universe of companies, respectively. The selection is determined by the potential of those companies to generate substantial revenue growth through the use of proprietary technologies and innovations. The rankings result from…

Small Business Owners Confident in Growth Prospects Despite Economic Concerns, TD Bank Survey Finds
The Ritz Herald

Small business owners (SBOs) across the U.S. expect larger increases in revenue this year than in 2018, despite growing trepidation about the national economy and inflation, according to the 2019 Small Business Survey conducted by TD Bank, America’s Most Convenient Bank®. SBOs show continued…

Economic Growth To Continue Throughout 2019
The Ritz Herald

Economic growth is expected to continue in the U.S. throughout 2019, say the nation’s purchasing and supply executives in their Spring 2019 Semiannual Economic Forecast. Expectations for the remainder of 2019 continue to be positive in both the manufacturing and non-manufacturing sectors.

These projections are part of the forecast issued…

US Travelers Reduce Budgets, Will Still Spend More Than Their European Counterparts
The Ritz Herald

Generali Global Assistance (GGA) today announced the results of its 19th annual Holiday Barometer conducted on behalf of its parent company, Europ Assistance, by consumer research firm Ipsos. This year’s barometer found that the number of Americans who indicated that they would be taking vacation this summer held steady…

Redfin Survey: Less than Half of Homebuyers Said Tax Reform Has Affected their Search
The Ritz Herald

More than a year after the historic tax code overhaul, less than half of homebuyers (47%) say that tax reform has had an effect on their home search, according to a March survey commissioned by Redfin (www.redfin.com), the technology-powered real estate brokerage. That’s down from…

2019 South & Southeast Asia Commodity Expo and Investment Fair held in China
The Ritz Herald

The 2019 South and Southeast Asia Commodity Expo and Investment Fair (SSACEIF) was held in Kunming, capital of southwest China’s Yunnan Province, on June 12, 2019.

According to the Executive Committee of the SSACEIF, exhibitors from 74 countries, regions and international organizations were featured in the exposition. A total of…

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The Ritz Herald
PHOTO CREDIT: Wyant Photography
Editor's Pick | People In Business
By /

Every great entrepreneur’s story begins with a dream and every dream comes laden with hard work and determination as two of the three ingredients needed to bring it to life.

The third ingredient?

A steadfast and talented businessman who won’t take second best and who knows nothing but hard work and grit.

Whether we’re talking about Warren Buffett’s starter home and humble lifestyle or Steve Jobs and Steve Wozniak founding Apple out of a garage, all of the stories of successful business people hold a similar tone and offer a universal message: Believe in yourself, no matter what the cost.

One man that has embraced this ethos is Charlie, the founder and Chief Executive Officer of ECP Solutions, LLC, a company that specializes in ecommerce logistics such as drop shipping, social media marketing, and crypto-currency exchange management.

Taking a dream for a better life and holding hopes for improving the world around him, Charlie founded ECP out of his parents’ basement in Indiana, following the tried and true path of so many success stories before him.

Similar to Uber’s former CEO Travis Kalanick, Charlie hammered away at his dream for two years while living in his parents’ basement. Building a business by scraping by is not a journey for the faint of heart, but it is nonetheless a path many must walk to secure success in entrepreneurship. After his brief stint operating ECP out of his parents’ basement in Indianapolis, Charlie was ready to break out on his own. ECP Solutions, LLC, is today a company boasting $5 million in…

Anatoly Loktionov Got Into Titov’s List Of Thieves
The Ritz Herald

Anatoly Gavrilovich Loktionov, who is a former vice-president of the «Rosneft» company caught for illegal export of oil and petroleum products at the depressed prices, is willing to return to Russia by the means of “Titov’s list” initiative. Anatoly Loktionov held a high-rank position in the state-owned corporation for…

Pacific Park at National Icon Santa Monica Pier and PepsiCo Announce Partnership Just in Time for Summertime Fun
The Ritz Herald

Pacific Park on the Santa Monica Pier has selected PepsiCo (NASDAQ: PEP) as its exclusive beverage provider forming a new multiyear partnership at the iconic venue’s restaurants and shops, and throughout the amusement park’s vending offerings.

More than nine million annual visitors at Santa Monica Pier, one of the most…

NASA Awards $608 Million Contract to PAE-KBR Joint Venture
The Ritz Herald

NASA recently announced it awarded the Base Operations, Spaceport Services contract at the Kennedy Space Center to the joint venture PAE-SGT Partners LLC, known as PSP. The firm fixed-price contract with a potential value of $608.7 million is for institutional support services at both the Kennedy…

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PHOTO CREDIT: Jack Plunkett. AT&T headquarters in San Antonio
The Ritz Herald
Two Agreements Cover About 3,000 Wireline Employees

AT&T today announced that it has reached two tentative agreements with Communications Workers of America in AT&T Corp. (CWA Telecommunications and Technologies unit) wireline contract negotiations.

The AT&T Corp. agreement covers employees across the country, including USVI. A small agreement also was reached on the AT&T Corp. (CWA Telecommunications and Technologies unit) Puerto Rico contract, which covers a handful of wireline employees in Puerto Rico. The two four-year agreements collectively cover about 3,000 employees and will be submitted to the union’s membership for ratification votes in coming days.

“As one of the largest employers in America, we’re proud of the number of quality middle class careers we’ve provided to our employees, with wages and benefits that are among the best in the country. We have a longstanding cooperative relationship with our unions, and we’re committed to working together to bargain fair contracts that will allow us to continue to provide those careers.” – Mark Royse, Executive Vice President – Labor Relations

The company has now reached 19 fair agreements since 2017 with the unions representing its employees, collectively covering over 88,000 employees.


SOURCE AT&T Communications

EDITOR'S

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Economic Optimism Among Small and Midsize Businesses Falls to Lowest Point Since 2009 in Vistage’s Q2 2019 CEO Confidence Index

/ Jun 28
Confidence in the economy among small and midsize business CEOs continues to decline, falling to 88.4 in Vistage’s Q2 2019 CEO Confidence Index. The mark is down from 91.6 in
Affordability in the Top 10 Most Popular Markets for Millennials, According to NAR
The Ritz Herald

A wide range of factors contribute to why millennials decide to move to certain areas, remain for an extended period or choose to relocate shortly after their arrival. Job market and affordability in the given location are two of the main reasons that impact millennials the most, according to…

Emaar Hospitality Group to Open 5 New Hotels in Dubai This Year
The Ritz Herald

Emaar Hospitality Group, the hospitality and leisure business of global developer Emaar Properties, will open four new hotels in Dubai under its premium luxury Address Hotels + Resorts and upscale lifestyle Vida Hotels and Resorts, this year. Further, Rove Hotels, the joint venture of Emaar Properties and Meraas, will…

Tian Tian Ventures Set To Take Thailand Ride-Hailing Market By Storm
The Ritz Herald

Silicon Valley based venture capitalist Tian Tian Ventures is about to launch a trial service for its TTgo ride-hailing app in Thailand, ahead of its planned expansion into the Southeast Asian country next quarter.

TTV is in the middle of a $100 million expansion plan across multiple cities in China…