Category Archives: Uncategorized

BEIJING — Demand for luxury electric sedans is on the rise in China. In just over two months, orders for the “Han” line of electric cars from BYD — a Chinese automaker backed by billionaire Warren Buffett — have topped 40,000, the company disclosed at the Beijing auto show this past weekend.  The luxury sedan was announced on July 12 and will initially be sold in China. The vehicle maker said 4,000 vehicles were delivered in August. The new Han model has a single-charge range of 605 kilometers (375.93 miles) with prices ranging from 229,800 yuan to 279,500 yuan, or roughly $33,000 to about $40,000. BYD is also selling a plug-in hybrid version for slightly less, at 219,800 yuan. That price range is slightly lower than that of Tesla’s China-made Model 3 sedan. Elon Musk’s company does not break out China unit sales, although nearly one-fourth of its revenue in the second quarter…

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For the 55 calendar years from 1965 through 2019, Berkshire Hathaway’s stock rose at an 18.6% annualized pace, versus 11.8% for the S&P 500 SPX, -1.15%  . (Both returns reflect reinvested dividends.) Warren Buffett can take credit for this, and he appears to be very much in charge of Berkshire. But, given that he just celebrated his 90th birthday, it’s clear that Buffett won’t be at the helm forever. But if you invest in Berkshire B, -6.09% BRK.B, -2.37%  or by following Buffett’s well-known investing principles, your portfolio returns likely won’t suffer after Buffett stops analyzing the markets and offering his insights. How can I be so certain? Because some years ago a group of researchers broke the Buffett Code. They devised a mechanical investing strategy that would have done every bit as well as Buffett over the long term. It is testament to Buffett’s accomplishments that it took many…

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Investment heavyweights have warned that international investors will continue to shun the U.K. until the dual threat of a hard Brexit and a Labour government led by Jeremy Corbyn can be completely discounted. Investors have avoided the U.K. amid uncertainty over the country’s future relationship with the European Union. Net outflows since the referendum vote in June 2016 from funds which invest specifically in U.K. companies reached $29.8bn, according to data from EPFR. Lucy Macdonald, chief investment officer for global equities at Allianz Global Investors, said in addition to uncertainty surrounding the Brexit outcome, the policy proposals of the opposition Labour Party under leader Jeremy Corbyn have also affected sentiment. “Another reason why global investors have been nervous about the U.K. has been the threat of an extreme left-wing government. Although that looks a lower risk because of where the polls are, it is still a risk,” said Macdonald. According…

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How can you pinpoint compelling investing opportunities in the current environment? Stocks tumbled for the week in a tech-led selloff after reaching record highs. However, even after the pullback, the S&P 500 has still surged almost 15% on a one-year basis. That means there’s still room to fall. Indeed as IHT Wealth Management’s Yussef Gheriani told CNBC’s Trading Nation recently: “There’s just a lot of uncertainty out there both between Covid, the stimulus packages, the election itself and there’s also still significant trade uncertainty between us and China.” In short, it’s best to pick your stocks wisely in case further volatility lies ahead. One way to go about this is to follow the latest stock recommendations from analysts with a proven track record of success. TipRanks analyst forecasting service attempts to pinpoint Wall Street’s best-performing analysts. These are the analysts with the highest success rate and average return measured on a one-year basis…

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Most unemployed workers will get up to $1,800 in extra jobless benefits through the Lost Wages Assistance program created last month by the Trump administration. The program pays a $300-a-week federal subsidy on top of the unemployment benefits workers currently receive. It follows the lapse of a $600 weekly supplement in late July. States, which had to apply and be approved for the Lost Wages aid, will issue up to six weeks of payments to eligible workers, a spokeswoman for the Federal Emergency Management Agency, which is overseeing the program, said Thursday. “States should plan to make payments to eligible claimants for no more than six weeks from the week ending Aug. 1, 2020,” according to the spokeswoman. $2,400 in some states That equates to a maximum $1,800 — or three weeks’ worth of the prior $600-a-week subsidy, which was enacted by the CARES Act coronavirus relief law in March. Some…

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JPMorgan Chase thinks it’s found the next hot market for investors:  Taking stakes in giant, pre-IPO start-ups from SpaceX to Airbnb. The investment bank is launching a new team to connect sellers and buyers in the burgeoning market for private company shares, according to Chris Berthe, JPMorgan’s global co-head of cash equities trading. He’s lured Andrew Tuthill, a senior VP from trading platform Forge Global, to head up the new team. “Many of our clients are looking at this as the next frontier,” Berthe said. “What do you do when markets get so high? You’re going to keep looking at value down the chain, and maybe that means getting involved in companies at earlier stages of their lifecycle.” More than a decade ago, it was much more common for companies to go public earlier in their development, allowing investors to participate in the rise of winners like Amazon and Google.…

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China’s five largest banks reported their biggest profit declines in at least a decade as they brace for further increases in bad loans in an economy weakened by the coronavirus pandemic. The five lenders — Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China, Bank of China and Bank of Communications — released their latest financial report cards last week. All five posted at least 10% year-on-year declines in profit for the first half of 2020 as they set aside more funds for potential loan losses in the coming months — much like many banks around the world. “The banks have been asked to …perform ‘national service.’ They’ve been asked to support the economy at the expense of their own operational strength,” said Jason Tan, research analyst at CreditSights, told CNBC’s “Squawk Box Asia” on Monday. Chinese banks, among the world’s largest by assets, have been placed at the front…

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Retirement planning is a multistep process that evolves over time. To have a comfortable, secure—and fun—retirement, you need to build the financial cushion that will fund it all. The fun part is why it makes sense to pay attention to the serious and perhaps boring part: planning how you’ll get there. Planning for retirement starts with thinking about your retirement goals and how long you have to meet them. Then you need to look at the types of retirement accounts that can help you raise the money to fund your future. As you save that money, you have to invest it to enable it to grow. The surprise last part is taxes: If you’ve received tax deductions over the years for the money you’ve contributed to your retirement accounts, a significant tax bill awaits when you start withdrawing those savings. There are ways to minimize the retirement tax hit while…

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Indonesia’s ride-hailing start-up Gojek is helping small businesses in the country survive the ongoing economic crisis by moving online, and it wants to bridge the gap between them and global tech companies, a senior executive told CNBC.  Gojek started in 2010 as a ride-hailing company in Indonesia and has since branched out into other business areas including food delivery, digital payments and logistics. It is now present across 207 cities in five Southeast Asian countries.  Last week, Gojek said it secured funding from Facebook and PayPal — investments the company said would help ramp up its payments and financial services in Indonesia and the broader region.  “When global companies want to come in into Indonesia and access the potential of the market, it’s not like you can do some big enterprise deal,” Aldi Haryopratomo, CEO of Gojek’s payments business, GoPay, told CNBC in a recent interview. “Our market is comprised fundamentally of small and…

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Being successful often means learning from those who have already achieved their goals. Having a mentor is an amazing blessing to an entrepreneur, but not everyone can find one in person. If you haven’t yet found your personal business guru, here are 21 tips for young or aspiring entrepreneur to help get you started. 1. Challenge yourself.  Richard Branson says his biggest motivation is to keep challenging himself. He treats life like one long university education, where he can learn more every day. You can too! 2. Do work you care about.  There’s no doubt that running a business take a lot of time. Steve Jobs noted that the only way to be satisfied in your life is to do work that you truly believe in. 3. Take the risk.  We never know the outcome of our efforts unless we actually do it. Jeff Bezos said it helped to know…

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