Nice day
The buy-now and pay-as-you-go sector is growing.
Options like Klarna, Affirm and Afterpay appear at checkout when making an online purchase and allow consumers to pay for an order over time, often without interest or fees, thanks to merchant subsidies. A 2023 Federal Reserve survey found that 14% of households had made BNPL purchases in the past 12 months.
But while Affirm’s CEO first identified his company as an anti-credit card game, BNPLs are likely to start looking more like credit cards anyway, as new regulations come into effect and more major banks like Citi, Chase and the U. S. take effect. competitor products.
The AI stocks that have generated the recent gains in the market are now reeling as investors turn to safer investments, with Nvidia falling more than 18% in the past month and tech giants like Amazon and Microsoft also seeing declines. An analyst at Bank of America likens this cooling of AI enthusiasm to the final days of the “California Gold Rush,” suggesting that the AI investment boom is possibly running out of steam.
Susan Wojcicki, former YouTube leader and Silicon Valley pioneer, died on Friday at the age of 56, following a two-year war against non-small mobile lung cancer. She was one of Google’s first employees and rose to the position of CEO of YouTube in 2014 after overseeing Google’s $1. 6 billion acquisition of the video-sharing platform.
It’s been 3 years since the GameStop frenzy first rocked the markets, and so far, there has been no confirmation as to whether the SEC is investigating the company for potential securities law violations. But Joe Fonicello, GameStop’s new social media chief, says yes. He was subpoenaed by the SEC for an investigation that lasted from at least May 2021 to January 2022, before being hired by the video game company.
The price-to-sales ratio is more difficult to understand than the price-to-earnings ratio, but sales are vital because they provide information about long-term earnings. The concept of price-to-sales ratio is that unusually high or low profit margins tend to recede toward the middle, meaning that corporations trading at the highest PSRs will likely face more festivals and possibly face a correction, while those trading at low PSRs could possibly be a bargain.
For more than 8 years, Apptronik, a small spin-off of the University of Texas at Austin, has been running on a humanoid robot called Apollo that can pick up objects and move boxes. The advertising price of humanoids lies in their ability to perform tasks, and Goldman Sachs has predicted that the market for such robots could reach $38 billion by 2035.
Etsy banned the sale of pornographic curtains and sex toys on its site two weeks ago, imposing what it described as “stricter standards” on adult content, but it still hosts thousands of classified ads that violate those criteria. Policies: Last December, a Forbes investigation found that the store housed a large number of fake nude photographs of some 55 well-known celebrities.
New election figures released over the weekend show Vice President Kamala Harris outpacing weak Democratic numbers in three key states (Pennsylvania, Michigan and Wisconsin), according to a New York Times/Siena vote conducted between Aug. 5 and Aug. 9. of 4 problems in all 3 states, even if the hole remains within the margin of error.
Donald Trump’s federal case to try to overturn the 2020 election is moving forward after the Supreme Court granted him some immunity, but a trial may not be held anytime soon because the ruling on overseeing the case has granted a special suggestion to Jack Smith’s request for more time to propose how to proceed with the case. However, it is certain that the case will not go to trial before the November elections and, if Trump wins, he will be able to appoint Justice Department officials who may have their fees reduced.
The United States continued its 28-year winning streak by winning the most Olympic medals at the Summer Games, but that good luck comes at a price: The United States Olympic and Paralympic Committee is giving bonuses to its medal-winning athletes, in addition to other grants and benefits, and will disburse $8. 3 million for the 2024 Games. But Italy and France have even bigger expenses to pay, totaling $10. 7 million and $9. 4 million respectively.
TOPLINE Jollibee Foods has long sought the territory of American icon Starbucks, the Seattle-based coffee giant with more than 39,000 outlets worldwide. The index operator’s popular fast-food chain, Jollibee, is already ahead of its American rivals McDonald’s and KFC in the Philippines, thanks to its crispy fried bird and its best-selling spaghetti with sweet sauce.
Today, in a bustling global market, Jollibee’s in the hot beverage sector is regaining momentum under the leadership of President and CEO Ernesto Tanmantiong, who plans to further expand in the hot beverage segment. the fastest developing fast food industry. According to research firm Statista, the combined profits of coffee chains worldwide rose 9% from last year to $630 billion in 2023, and will most likely reach $800 billion by 2030. In comparison, the fast food sector scored 1. 1. % that increased overall profit to $978 billion last year.
“It’s a fast-growing market, a big opportunity for us,” Tanmantiong said from a bustling Jollibee store in Pasig City, east of Manila, in early July. The day before, Jollibee announced the acquisition, for $238 million, of a 70% stake in South Korea’s Compose Coffee, a coffee giant with just 2,500 stores, which would bring the group’s investments in coffee to about $700 million. of dollars.
Tanmantiong’s dream, no less, is for the Philippines’ largest restaurant chain to also surpass Starbucks.
WHY IT MATTERS While the addition of Compose Coffee will bring the total number of Jollibee coffees to more than 4,700, spread across Asia, the Middle East, and North America (with only 387 in the Philippines, where Starbucks has 450 stores), the organization faces a growing challenge. Although they outnumber the more than 4,600 fast-food outlets it operates worldwide, its flagship restaurant network Jollibee is lately the largest contributor to sales and accounts for part of the $4. 3 billion in profits the organization recorded in 2023.
MORE The 50 richest in the Philippines
After an up-and-down week for the stock market, the S&P 500 ended last week almost exactly flat. This streak included the index’s worst days in the last 18 months, related in part to a worse-than-expected unemployment report:
3%: The S&P 500 fell last Monday amid fears of an imminent stock market crash
Fourth: Last week marked the fourth week of the S
25%: Goldman Sachs and JPMorgan Chase’s chances of a recession hitting the United States within the year
Now that we’re in the Olympics, why not incorporate a little bit of this champion mentality into your daily routine?Like the athletes who have caught our attention in recent weeks, stay organized and focused to turn your goals into achievements. Keep visualizing your success, maintain discipline and don’t forget to take care of your brain and body, because even outside the arena you can live like a winner.
After an evening in Paris, a famous musician found himself in police custody on Friday morning due to an alleged physical altercation with a bodyguard at the George V hotel. Who?
A. Kanye West
B. Justin Bieber
C. Cardi B.
Mr. Travis Scott
Check your answer.
Thanks for reading! This edition of Forbes Daily was edited by Sarah Whitmire and Chris Dobstaff, with writing contributions from Tavon Thomasson.
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