Lazydays Clocks 48% Growth In Preliminary Q3 Revenue
Lazydays Holdings Inc (NASDAQ:LAZY) reported preliminary third-quarter revenue of $318.7 million, representing 48% year-on-year growth, versus the consensus of $305.52 million. Total revenue increased
Lazydays Preliminary 3Q Results Show Large Sales Gain
By Matt Grossman Lazydays Holdings Inc. revenue grew by 48% year over year in the third quarter, the company said Thursday, citing preliminary financial results. A 35% increase in unit sa
Turkey cut interest rates unexpectedly, the lira exchange rate fell to a record low
The Turkish lira fell to a record low after Turkey's central bank unexpectedly lowered its benchmark interest rate on Thursday, triggering a new round of market turmoil. It also reflects the shadow that President Recep Tayyip Erdogan has brought to monetary policy. The Monetary Policy Committee cut the key weekly repurchase rate by 100 basis points to 18%. Of the 23 economists previously surveyed by Bloomberg, all but one expected the policy interest rate to remain at 19%. Turkey's inflation rate unexpectedly climbed to 19.25% last month, causing the country's real interest rate to fall below zero for the first time since October. The Turkish lira fell to a record low against the US dollar at 2 p.m. local time
Millions of Americans Will Lose Federal Unemployment Benefits Starting This Weekend
Last year, the US experienced the biggest economic recession in history. The bailout bill passed by the federal government was extended twice, but not a third time. According to estimates by The Century Foundation, this means that about 9 million people will lose their relief before Labor Day in the US, and another 3 million will have their weekly benefits reduced. University of California Berkeley economist Sylvia Allegretto said that this will put some people in a bad situation. For many reasons, the US economy has not fully recovered, and the epidemic across the US may lead to the economy
Southeast Asian ride-hailing giant Grab launches online supermarket in the Philippines
Southeast Asian ride-hailing giant Grab said on Friday that it would launch an online supermarket in the Philippines to further expand its business beyond ride-hailing and food delivery to increase revenue. Consumers in Metro Manila, which has a population of more than 13 million, will be able to order vegetables, meat, seafood and other groceries through the Grab app for delivery the next day, the company said. Grab has already launched online supermarket services in Malaysia and Singapore and is preparing to enter Thailand this year. The company is trying to seize broader opportunities in the food service market to drive user growth. According to Euromonitor International (Euromonitor)
Citigroup and others warn that the Australian economy may fall into recession again.
Citigroup Inc and Australian Security Capital (AMP Capital Investors) warned that the Australian economy may have contracted slightly in the second quarter, coupled with the expected contraction caused by the blockade this quarter, the Australian economy could fall back into a "technical recession". Australia will release second-quarter GDP data on Wednesday, and two analysts at Citigroup and Security Capital said that while the economy performed quite well in the second quarter, the decline in net exports could be a drag on GDP. Citigroup Inc Australia Chief Economist Josh Williamson (Josh Wi)
American households and small businesses hoard nearly $17 trillion in cash more than the global fiscal stimulus
FHN Financial, a fixed-income trader that tracks cash flow, estimates that US households and small businesses have hoarded a record nearly $17 trillion in cash, an incredible number because it exceeds the amount of fiscal action taken by governments around the world to keep the global economy running during the outbreak ($16 trillion). Before the outbreak in February last year, US households and small businesses held less than $12 trillion in cash. Said Jim Vogel, manager of FHN Financial in Memphis. Since 2020
Wells Fargo & Co downgraded software stocks to underweight: overvalued
Chris Harvey, head of equity strategy at Wells Fargo & Co Securities, one of the biggest bulls on Wall Street, recently downgraded software stocks from "neutral" to "underweight" (the equivalent of "underweight") on the grounds that they were overvalued. "from a valuation point of view, you have to pay a premium of about 75 per cent for the software market, which is too expensive," Harvey said in an interview on Friday. " The Dow Jones American Software Index has risen 28% in the past five months. "it's driven by home work," Harvey said. "We just don't think there are many opportunities in the short term." But Harvey believes the opposite is true for media and entertainment stocks.
The recent approach of the Federal Reserve is not to abandon the pigeon into an eagle, but to learn the lessons of 2018.
Don't be mistaken for a change of heart in the Fed's recent actions. In fact, although many people think they have become hawkish, the Fed is actually more dovish than it was when it first talked about "making up for" inflation. This is good for risky assets. When the Fed first used "symmetry" in its policy statement in March 2017 to describe its tolerance for inflation exceeding its 2 per cent target, it was intended to imply that policy would remain loose even if inflation temporarily exceeded 2 per cent. However, when the core PCE deflator finally exceeded 2% in 2018, the Fed's action was another matter, as it was in the midst of an accelerated tightening cycle. Market
Fed Williams Says Inflation Rate Will Fall Back to 2% Next Year
New York Federal Reserve President John Williams said, “The inflation rate should drop to around 2% next year and the year after.” “We now see people flying and staying in hotels. These prices are back, back to pre-pandemic levels, so this is really just a return to normal adjustment,” Williams said in response to questions during a virtual event at Staten Island College on Thursday. “This is really an adjustment that will probably be completed within the next six months or so”. “Once the recovery is more complete and the economy is in a very good shape, then we can recover the low interest rates and bring them back to correction
OECD: the global economy will grow at its fastest pace in half a century this year
Original title: OECD: this year the global economy will grow at the fastest rate in half a century. Source: Golden Ten data Beijing time 16: 00 on Monday, the OECD released its economic outlook. The group expects the global economy to grow by 5.8 per cent in 2021 (up from 5.6 per cent previously forecast) and 4.3 per cent in 2022 (up from 4 per cent previously forecast). The OECD believes that the global economy has grown at its fastest pace in nearly half a century this year, driven by an aggressive vaccination program and the latest fiscal stimulus package from the US government. But at the same time, the OECD warned that the global economy would be very
No Data