Richemont acquires British watch platform Watchfinder


The luxury goods company Richemont buys the British watch platform

Founded in 2002, the company buys and sells used premium watches online as well as in seven boutiques. Richemont does not comment on the price of the transaction . However, the acquisition will not exert any “material” influence on the operating result for the financial year 2018/19, Richemont affirms.

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Who are Jeff Bezos’ role models?

amazon-jeff-bezosHe is now the richest person in the world, has a billion-dollar business and is a role model for many young entrepreneurs. But who has Jeff Bezos copied the success?

As part of a panel, the Amazon chief commented on this topic at the Southern Methodist University and named a number of well-known personalities. Continue reading “Who are Jeff Bezos’ role models?”

The Tesla share should not be worth more than a donut, according to an expert

tesla model 3

In the ranks of those who kill the carmaker Tesla dead, mixes a new voice: Chris Macintosh railed against the Tesla share and against Tesla boss Elon Musk. In particular, he focuses on the alleged hero status that Musk enjoys among his followers.

The number of Tesla supporters is large. But the recent adversities, production problems with the hopeful model 3, repeatedly postponed corporate goals and numerous departures from strategically important positions meanwhile provide for uncertainty among Tesla shareholders. Over the past six months, the Tesla share has lost more than 12 percent on the US stock exchange, even though the price has stabilized somewhat since its lows in early April. But the signs are increasing that even among Tesla’s most faithful followers patience is finally.

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Asian indices close in negative territory

Asian stock marketThe Asian stock market dropped significantly in the Tuesday trading.

In Japan, the Nikkei 225 fell 0.55 percent to 22,358.43 index points by the end of trading. The Shanghai Composite in mainland China also had to give up, closing 0.47 percent lower at 3,120.46 points. Meanwhile, the Hang Seng in Hong Kong had far more loss and gave the close 1.0 percent to 30’484.58 points.

Political developments were again seen as a burden, in particular the impending new elections in Italy. In addition, the relationship between the US and North Korea and the continuation of the trade conflict remained unclear.

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Review of Crypto Startup Circle Internet rises to $ 3 billion

circle internetGoldman Sachs’ startup of the digital currency called Circle Internet is valued at $ 3 billion in a new round of financing.

This makes Circle Internet Financial one of the most expensive fintech startups in the US. The increase in the valuation of the company from Boston is about seven times higher than a previous round of financing in 2016. The company owes this value explosion to its unbridled interest in bitcoins and other digital assets.

Despite a drop in value of 40 percent this year, the Bitcoins bring these companies a real money rain. In particular, it shows that service providers for trading and investing in cryptocurrencies are particularly benefiting. These include Coinbase, a Bitcoin exchange, or Bitmain, the Chinese chip maker for digital money transactions.

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JPMorgan boss: There is serious competition for the reserve currency dollar

usd vs yuanThe US dollar is the global reserve currency. But in a few years another currency could become a serious competitor.

In 20 to 30 years, the yuan will be comparable to the US dollar , said JPMorgan CEO Jamie Dimon to “Bloomberg”. Previously, China has yet to tackle a long list of financial reforms, after all, no comparison is possible as long as the Chinese currency is not freely exchangeable.
Still a long way

On 1 October 2016, the International Monetary Fund (IMF) added the Chinese renminbi (yuan) as the fifth currency – alongside the euro , US dollar, pound and yen – to the world reserve currencies. This decision reflects the importance of China, after all, the world’s second largest economy, and represents a huge gain in prestige.

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TOTAL wants to give up Iran’s major project without exemption from US sanctions

total iranThe French oil company TOTAL wants to withdraw from a billion dollar deal with Iran, if he gets from the US no exemption from the announced sanctions.

TOTAL will then be unable to continue the project to develop the South Pars gas field in the Persian Gulf, the company announced on Wednesday. It would then have to do all business before 4 November. The project also involves the Chinese oil company PetroChina .

US President Donald Trump had canceled the nuclear deal with Iran last week. The suspended US economic sanctions against the country are expected to come back into force shortly, which may also affect non-US companies.

The French company argued that it could not afford to be exposed to secondary sanctions. TOTAL identified potential problems as being the loss of US dollar financing of its worldwide operations by American banks, the loss of its US shareholders, or the inability to continue its US operations.

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Siemens buys US software specialists for building automation


Siemens is strengthening its building automation business with Californian software framework provider J2 Innovations.

The Los Angeles-based company has made a name for itself with the FIN (Fluid INtegration) programming framework, which enables building automation providers to quickly and easily develop state-of-the-art, intuitive systems for controlling equipment and automation systems.

FIN is used in thousands of building installations in more than 20 countries.
J2 Innovations is to be expanded with additional staff in the US and offices in Europe and Asia, but remain independent in order to be able to act flexibly. The acquisition is expected to be completed in May. For the purchase price Siemens made no statements.

Gold: US economic indicators no effect

gold barFollowing the presentation of mixed US economic data, the gold price reacted relatively “coolly”.

Already in the morning turned the gold price after a stable start back into the loss zone and continues to labor on a bottoming in the range of $ 1,285. In the weekly initial claims for US unemployment assistance, the number of 222,000 was slightly higher than expected. On the other hand, the economic outlook for the Philadelphia Fed saw a positive surprise. Instead of a forecast decline from 23.2 to 21.0 meters, a value of 34.4 points was reported. As both indicators did not show a consistent trend, the gold price reaction was relatively moderate.

On Thursday afternoon, the gold price presented itself with yielding prices. Until around 3:00 pm (CEST), the most actively traded futures contractedGold (June) at $ 2.50 to $ 1,289.00 a troy ounce.
Crude oil: Brent “cracks” $ 80 mark

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Barely moving in the markets: Goldman Sachs recommends these stocks

goldman-sachsThe markets are currently in a narrow range. But even the current stock market environment offers potential for investors: Goldman Sachs has identified seven stocks that continue to rise even in shallow markets.

The US S & P 500 index is showing a pronounced sideways trend in the year to date. Since January, the stock market barometer has risen by a moderate 1.7 percent. And that’s not going to change much by the end of the year, experts at Wall Street Goldman Sachs believe, confirming their index target by the end of the year at 2,850 points. As a result, the S & P 500 would still have an upside potential of around four percent this year – relatively little, considering that the index had gained just under 19 percent in 2017.

A difficult stock market environment for investors, because cheap stocks are currently in short supply, make real growth stars is increasingly difficult. However, the analyst team at Goldman Sachs is confident that the current market situation also enables investment strategies that can be used to outperform.

Shares with strong sales prospects
David Kostin, the lead equity house strategist at the finance house, points in particular to companies with strong growth prospects. A note to clients said last week, “We continue to recommend that investors buy stocks with the highest forecast sales growth.” Kostin has recently updated its list of share certificates – and it does include well-known companies, which at first glance appear anything but cheap.
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