Alibaba Group on Friday reported forecast-beating fourth-quarter revenues and profits, as more people shopped online for essentials because of the coronavirus lockdowns. As people stayed indoors and brick-and-mortar stores remained shut during the health crisis, online orders surged, with the company’s core commerce business rising nearly 19% to 93.87 billion yuan ($13.16 billion) in the […]
Archives for May 2020
ETtech Top 5: Jio’s latest investor, Amazon hiring, lenders on thin ice & more
Happy Friday! Jio Platforms is on a deal-making spree. The holding company of India’s largest telecom operator—Reliance Jio Infocomm—struck its fifth deal in a month. Private equity firm KKR will invest Rs 11,367 crore in the company for a 2.32% stake. This follows the investments made by social media giant Facebook, private equity funds Silver […]
Fed corporate-bond ETF purchases rise to $1.8B
Fed purchases of ETFs invested in corporate debt totaled $1.8 billion in the first six days of the program, according to data published Thursday. The ETF purchases, which are part of an emergency lending program aimed at backstopping corporate debt markets during the coronavirus pandemic, were revealed in the U.S. central bank’s weekly balance sheet […]
NSO Group Impersonates Facebook Security Team to Spread Spyware — Report
The administrator of your personal data will be Threatpost, Inc., 500 Unicorn Park, Woburn, MA 01801. Detailed information on the processing of personal data can be found in the privacy policy. In addition, you will find them in the message confirming the subscription to the newsletter.
Podcast: How to help clients with retirement relief provided by CARES
Slides Do you have clients who have had coronavirus-related health or financial issues? The CARES Act retirement plan and IRA provisions may be able to provide them with cash flow relief. Use your deep tax knowledge as a CPA financial planner to help your clients make smart planning moves now. Be sure to follow along […]
Data of 3.5 million Zoomcar customers up for sale
Personal data of around 3.5 million Zoomcar users has been up for sale on what is known as the Dark Web since Thursday, according to a cybersecurity consultant. Dark Web refers to that area of cyberspace where content cannot be searched using normal search engines because it is encrypted. The data includes names, email ids, […]
Schroders’ Financial Planner adds 2 experienced hires
Schroders Personal Wealth, the new Financial Planning joint venture between Schroders and Lloyds Bank, has added two experienced hires from Morningstar and Quilter Cheviot. Peter Brunt joins from Morningstar as head of manager research and Jennifer Christian from Quilter Cheviot as an investment specialist. Mr Brunt will mainly be responsible for developing fund manager research […]
Editor’s Column: Pension Freedoms or Pensions Fiasco?
The case for reform of the Pension Freedoms is growing with news this week that hundreds of thousands of consumers are taking money out of pensions and most likely shovelling it into low interest bank accounts. While I’ve always supported the Pension Freedoms in principle, I’ve long argued they were too much too soon and […]
How Covid-19 has hit India’s job market
Massive unemployment has started hitting urban India. For many sectors, the worst is yet to come. Thousands of young Indians are losing jobs, most with minimal notice, in a country without a formal safety net. Tech, ed-tech and banking/finance are the few bright spots. Here’s the data that frames this economic and social crisis. (Graphics […]
What to do with your stimulus check
As of May 18, the IRS has sent out 140 million stimulus checks, with around 10 million more to send. The funds are expected to help people pay their expenses and jump-start the economy, which has been in decline since the coronavirus hit U.S. soil. This money — $1,200 for individuals with adjusted gross income […]