Reading Global(2022.04.21)
Goldman Sachs reported Morgan Stanley's block trade to Hong Kong regulators
Reuters reported on the 21st that the Financial Times quoted people familiar with the matter as saying that Wall Street bank Goldman Sachs reported to hong Kong financial regulators a series of large transactions carried out by rival Morgan Stanley, including a large number of stock sales.
Three years ago, during an "informal" discussion, Goldman Sachs issued a warning to Hong Kong's Securities and Futures Commission about Morgan Stanley's deal. Because before Morgan Stanley was ready to put its block-traded shares on the market, the companies' stock prices fell briefly.
The Financial Times reported that it was unclear whether Hong Kong authorities had investigated the allegations by Goldman Sachs employees.
Reuters reported in February that the U.S. Securities and Exchange Commission (SEC) was investigating whether financial industry executives had violated regulations by revealing information to hedge funds ahead of block trades.
According to the Financial Times, since the US investigation was announced, Hong Kong's financial regulators have also begun to inquire about the bulk trading behavior of banks.
In March, 66,100 foreigners visited Japan, up sharply year-on-year
Kyodo News Agency reported on the 21st that the estimated data released by the Japan National Tourism Agency a few days ago showed that the number of foreigners visiting Japan in March was 66,100, which was 5.38 times that of the same period last year. The government has relaxed its covid-19 border crossing measures and allowed new entrants such as business people, technical intern trainees, and international students, so the number has increased significantly. In July 2021, when the number of arrivals to the Tokyo Olympics increased, it exceeded 50,000 more.
However, entry for tourism purposes remains suspended, down 97.6% from March 2019 before the pandemic.
From the perspective of major countries and regions, the top three are Vietnam with 10,100 people, China with 0.98 million people, and South Korea with 0.67 million people. Southeast Asia saw a larger increase, with the resumption of technical intern trainees or having an impact.
The number of Japanese leaving the country in March was 70,700, 2.45 times the same period last year and 96.3% lower than in March 2019.
BMW calls Tesla: In three years, we will have 25% of cars sold online
Forbes reported on the 21st that due to the blow of the emerging mass production car brand Tesla, the luxury car brand BMW is working hard to increase the output of its electric vehicles through digitalization, as well as its own leadership position in the automotive industry. In addition to launching new oil-free cars, BMW also announced a goal of doubling its electric vehicle sales this year and said the era of Tesla's unique sales proposition is over.
These changes include selling online or buying a car in an app. JENS Theimer, BMW vice president, recently said: "A third of buyers can very clearly imagine buying a car online. We have to be prepared with our retail partners to make this possible. ”
To achieve this, BMW uses Adobe in data management, personalized digital experiences, and unified experiences for customers in digital, dealerships, and anywhere else.
Jens Theimer says this new unified experience can even be extended to the metaverse and treat existing dealers in the real world as a valuable asset, rather than as a faded relic of the pre-digital age or an obstacle on the road to change.
However, there will be two major changes, one is a fixed price, and the other is to personalize the car according to individual needs. One of the areas where BMW has partnered with partners such as Adobe is the launch of The Experience Cloud, a suite of applications that span channels, media, and physical locations for commerce, customer data, and personalization.
In addition, when the customer receives the goods, their car purchase journey is not over. In a new world, customers may have some unenlightened features in their cars that can only be unlocked for an additional fee when needed. Tesla's Acceleration Boost is an example, and customers can buy it to make the already faster Model 3 or Y faster.
The U.S. hedge fund billionaire sold its stake in Netflix at a huge loss
The Guardian reported on the 21st that US billionaire and hedge fund manager Bill Ackman sold his stake in Netflix with a loss of about $400 million, after the streaming giant reported the loss of more than 200,000 users.
Ackman bought more than $1 billion in Netflix stock in January, despite pessimistic predictions about the company's subscription levels. Ackman said at the time that the subsequent decline in the stock price provided an "attractive" opportunity for his Pershing Square fund.
But when the online streaming platform's stock price plummeted more than 35 percent, Ackman changed his attitude. It was previously reported that Netflix lost more than 200,000 subscribers in the first three months of this year and could lose another 2 million subscribers in the next quarter.
The decline in stock prices has reduced Netflix's market value by about $50 billion.
Ackman's decision to sell his stake is estimated to cost the Pershing Square fund $400 million. In a letter to investors, Ackman acknowledged that the losses had reduced returns by four percentage points.
Ackman acknowledges that Netflix has a strategy to curb losses, including being more aggressive in reaching out to non-paying customers and incorporating ads into its streaming services. However, he noted that these changes could take at least one to two years to implement.
"While we think these business model changes are sensible, it's hard to predict their impact on a company's long-term user growth, future revenue, operating margins, and capital intensity," Ackman said. ”
The world's first Japanese company in the automotive wiper rubber is facing the wave of electrification
Japan Economic News reported on the 21st that Fukoku (Fukoku) is a leading enterprise in the field of automotive wiper rubber that holds a 40% share of the world's niche market (Niche Market), also known as the gap market.
The company's strength is based on the proposal power accumulated since its founding in 1953, and orders come from major global automakers. The company is also involved in a wide range of rubber-using components, such as anti-vibration components for automobiles that prevent engine vibration and noise, and seals inside brakes.
In China, the world's largest auto market, Wells Fargo plans to increase its current 50 percent share to 66 percent. Targeting emerging players such as pure electric vehicles. In order to support the development of pure electric vehicles with a short development time, Fuguo will set up a technology center in China in 2021. In India and North America, we will also expand sales and increase our global share to 50%.
On the other hand, the demand for rubber components used in engines and oil press brakes will decrease. The company believes that the way out lies in pure electric vehicle components. We are currently strengthening the development of new products such as anti-vibration rubber for motors, and the rubber components related to in-vehicle batteries that have been ordered will start selling in the near future.
With the electrification of automobiles, rubber parts are required to be lighter and thinner, and the total number of rubber parts in automobiles is likely to decrease. To compensate for this, Wells Fargo will also focus on the life sciences sector. The company began dabbling in rubber plugs for infusion bags in the 1990s, and now the product has expanded to include media for cell culture. By 2030, the Company will expand its life sciences-related sales to 15 billion yen, which is five times the size of the current generation.
Today's picture
Queen of England unveils her Barbie to celebrate her 96th birthday (Image)
On April 21, 2022, local time, Queen Elizabeth II of the United Kingdom celebrated her 96th birthday on the same day, and Queen Elizabeth Barbie dolls appeared on the same day.
(This article is compiled from Reuters, Kyodo News Agency, Nihon Keizai Shimbun, Forbes, The Guardian)
Economic Observation Network intern reporter Zhou Yuqing sorted out