#myft

[naruzumake]

「 Fairy Tail Challenge 」 - 20 days - w/ @mazusu

Day 20: Free Theme: Couples ❤

[lord-media]

Markets and MPs will need more than just a gear shift

Markets and MPs will need more than just a gear shift

Choose your subscription EXPERIENCE Try digital access I know why one million readers have subscribed to FT For 4 weeks, get unlimited premium digital access to FT’s trusted, award-winning business news Digital Stay on top of the basics News and Opinions MyFT – Keep track of the topics that matter most to you FT Weekend – FULL ACCESS TO WEEKEND CONTENT Mobile and Tablet Apps – Download HA…

[petnews2day]

The explosive evolutionary tactics of snakes

New Post has been published on https://petn.ws/QXsvj

The explosive evolutionary tactics of snakes

Stay informed with free updates Simply sign up to the Science myFT Digest — delivered directly to your inbox. The writer is a science commentator There is something otherworldly about snakes. The slithering creatures feature heavily in religion, folklore and mythology: the serpent in the Garden of Eden that tempts Eve to eat forbidden fruit; […]

See full article at https://petn.ws/QXsvj #ExoticPetNews

[johnbrownnn]

Stay informed with free updatesSimply sign up to the Exchange traded funds myFT Digest -- delivered directly to your inbox.Cathie Wood’s Ark Investment Management has a new pitch to investors who might be concerned by the asset manager’s huge losses owing to rising interest rates — think of the tax write-offs. Wood’s flagship investment product — the $6.3bn ARK Innovation exchange traded fund, known as ARKK — is down more than 25 per cent over the past three months, according to Morningstar. After an exceptional 2020 and despite being up about 17 per cent since January 1, ARKK has generated an annualised three-year return of -28 per cent. That is largely owing to a catastrophic 2022, when it plunged about 67 per cent.Because Ark’s strategies have lost so much money since the US Federal Reserve started raising rates in March 2022, the company is telling investors that they are unlikely to incur taxes on capital gains distributions via ARKK and Wood’s other actively managed ETFs for at least the next two years. “This means that current and future shareholders of ARK ETFs can remain invested in disruptive innovation in a compounded fashion, without being taxed, for potentially two more years or longer,” said an Ark research note by director of financial reporting and fund accounting Rob Kamentsev. The expected tax relief has to do both with the scale of Ark’s losses and the structure of ETFs, which hold securities similar to mutual funds but trade on exchanges similar to stocks and benefit from separate tax treatment. In effect, the billions of dollars in losses Ark’s ETFs have sustained since early 2022 can be “released” over time to offset net taxable gains distributed to shareholders, according to Wood’s company.Ark said in its Thursday quarterly fund webinar that its December 2025 estimate was a conservative one, and that its capital losses could be sufficient to offset tax liabilities as far out as September 2027.Several big holdings for ARKK, such as Zoom and Block, have been down this year, offsetting stronger performance by the likes of Coinbase and Roku. While perennial top holding Tesla is up nearly 100 per cent year to date, its stock is still well below its highs of late 2021 and early 2022. Wood noted on Thursday’s webinar that she thought the potential to save on taxes offered by her company’s ETFs was underappreciated. “I don’t think many people understand what an asset we have in terms of those tax-loss carry-forwards,” Wood said. Ark, which did not report any income or capital gain distributions in 2022 after doing so in 2021, did not respond to requests for additional comment. One of the main draws of an ETF for investors is its ability to manage holdings to defer capital gains tax liabilities. ETF providers routinely tout the various tax advantages of their product over other US fund types. Ark’s decision to broadcast the tax advantages of its losses while offering up an estimated timeline for tax benefits is less common, even for a group whose founder is known to make bold predictions. “They are aiming for transparency, but they are making forward-looking projections — that’s abnormal to see in asset management,” said Todd Rosenbluth, director of research at the VettaFi consultancy.“The specific timing and putting a more positive spin on the challenging historical performance stands out relative to other ETFs.”Research has shown that the ETF’s mechanism for handling requests to redeem underlying securities leads to lower tax burdens than mutual funds. This phenomenon was most recently on display at the end of 2021, when numerous active mutual funds faced sizeable year-end capital gains distributions — sometimes more than 20 per cent of net asset value — while for most ETFs the figure was 1 per cent or less. The prospect of paying less in taxes has been a driving factor for investors, who have steadily been putting money into ETFs while pulling out of mutual funds. Even so, mutual funds collectively continue to hold a much larger piece of the US investment pie than ETFs. Source link

[eurekadiario]

SoftBank busca una asociación con OpenAI mientras Son planea una ola de acuerdos después de la salida a bolsa de Arm

Le enviaremos un correo electrónico de myFT Daily Digest con las últimas noticias de SoftBank Group Corp todas las mañanas.

SoftBank está a la caza de acuerdos en inteligencia artificial, incluida una posible inversión en OpenAI, después de que la exitosa salida a bolsa del diseñador de chips británico Arm reforzara el fondo de guerra multimillonario de Masayoshi Son.

Dos personas familiarizadas con el pensamiento de Son dijeron que el fundador y director ejecutivo del conglomerado japonés está buscando invertir decenas de miles de millones en IA después de completar la oferta pública inicial de Arm.

OpenAI, respaldado por Microsoft, es una de las varias opciones que SoftBank está considerando para un puñado de acuerdos de este tipo. SoftBank también podría buscar establecer una asociación estratégica amplia con el fabricante de ChatGPT, dijeron estas personas.

SoftBank también está buscando una variedad de alternativas a OpenAI, incluida la realización de inversiones sustanciales en rivales directos del fabricante de ChatGPT, agregaron. La compañía también hizo un acercamiento preliminar para comprar Graphcore, un fabricante de chips de IA con sede en el Reino Unido, dijeron.

SoftBank dijo: "No comentamos sobre rumores". OpenAI se negó a hacer comentarios. Graphcore negó haber recibido una oferta de SoftBank.

Los analistas dicen que la oferta pública inicial de Arm del jueves, que recaudó casi 5.000 millones de dólares en ingresos, ampliará el fondo de guerra de SoftBank hasta 65.000 millones de dólares, incluido su propio efectivo y el uso de su participación restante del 90 por ciento en Arm como garantía para préstamos.

Son, quien dijo en junio que era un "gran usuario" de ChatGPT, ha desarrollado una relación cercana con el director ejecutivo de OpenAI, Sam Altman. Son describió a Altman como “una de las personas clave en la Tierra” y dijo que habla con él casi todos los días.

La unidad móvil de SoftBank ya tiene una asociación comercial con OpenAI para prestar servicios a empresas en Japón que quieran implementar tecnología de IA generativa, como los chatbots. El servicio se basa en la plataforma informática Azure desarrollada por Microsoft, que es el proveedor exclusivo de nube de OpenAI. A principios de este año, Microsoft invirtió 10.000 millones de dólares en OpenAI, en un acuerdo de varios años, según personas familiarizadas con el asunto.

La filial móvil de SoftBank también ha dicho que quiere desarrollar su propio equivalente japonés de ChatGPT.

El entusiasmo de Son por llegar a acuerdos, según personas cercanas a su círculo íntimo, se ha recuperado con fuerza en los últimos meses y culminó cuando el prolífico inversor en tecnología dijo en junio que estaba volviendo al “modo ofensivo”.

Durante la pandemia y durante la crisis tecnológica de 2022, Son estuvo en un “modo defensivo” autoproclamado, durante el cual se restringieron en gran medida los nuevos acuerdos y la empresa se dedicó a reforzar su posición de efectivo. Después de concentrarse en Arm durante varios meses en el período previo a su oferta pública inicial, su exitosa cotización ha liberado a Son para reanudar la negociación con renovado vigor, según personas familiarizadas con su pensamiento.

Son tiene ambiciones más amplias de establecer su conglomerado tecnológico japonés como un competidor creíble en el campo de la IA, incluidos los chips que impulsan la tecnología.

Por el momento, la gran ganadora de la IA ha sido Nvidia. El dominio de la empresa con sede en Silicon Valley en el mercado de chips de IA ha impulsado su valor de mercado a más de 1 billón de dólares este año. SoftBank adquirió una participación en el fabricante de chips en 2017, pero la vendió en 2019.

Arm hizo de la IA una parte clave de su historia de crecimiento para los inversores durante la gira de OPI de este mes, mientras busca diversificarse de su mercado principal de teléfonos inteligentes y ampliar su alcance en la computación en la nube.

Sin embargo, los analistas dijeron que Arm desempeña un papel mucho menor en la creación de grandes modelos de lenguaje (la tecnología que impulsa ChatGPT) que Nvidia.

Información adicional de Richard Waters, Sam Agini y Tim Bradshaw

[truck-fump]

<b>Trump's</b> trials will inspire a global epidemic of whataboutism - Financial Times

New Post has been published on https://www.google.com/url?rct=j&sa=t&url=https://www.ft.com/content/8738529d-b891-4793-bf6a-5f580b754ac3&ct=ga&cd=CAIyGjUzM2UwMTY5ZmFhZTIwMGQ6Y29tOmVuOlVT&usg=AOvVaw3yI7tOFX8v74A8aw6C740d

Trump's trials will inspire a global epidemic of whataboutism - Financial Times

We’ll send you a myFT Daily Digest email rounding up the latest Geopolitics news every morning. The many trials of Donald Trump will have an …

[news247planet]

#notch #Stocks #NFL US shares notch longest month-to-month successful streak in two years https://news247planet.com/?p=468776

[crystoex]

Kering tries to fix Gucci with management overhaul

Receive free Luxury goods updates We’ll send you a myFT Daily Digest email rounding up the latest Luxury goods news every morning. French luxury group Kering has announced a major management overhaul, parachuting in a transitional leader at Gucci to fix underperformance at its biggest brand and naming two deputy chief executives.  The moves unveiled by chair and chief executive François-Henri…

[neyatimes]

Why Vodafone’s megamerger could have a 3.9% problem

Receive free Telecoms updates We’ll send you a myFT Daily Digest email rounding up the latest Telecoms news every morning. Thank goodness for profiteering banks, greedflating supermarkets and hopeless water companies. If it weren’t for the UK’s vast choice of corporate villain candidates, telecoms companies might be getting more flak.  You see the biggest mobile operators — almost all of them —…

[naruzumake]

「 Fairy Tail Challenge 」 - 20 days - w/ @mazusu

Day 19: Favorite Quote: "A strong person is not the one who doesn't cry. A strong person is the one who cries and sheds tears for a moment, then gets up and fights again."

[petnews2day]

First-time buyers targeted with £5,000 deposit mortgage

New Post has been published on https://petn.ws/4OVR7

First-time buyers targeted with £5,000 deposit mortgage

Stay informed with free updates Simply sign up to the Property sector myFT Digest — delivered directly to your inbox. Mortgage brokers have welcomed an “innovative” home loan aimed at first-time buyers, which requires a deposit of just £5,000 for homes worth up to £500,000. The mortgage, launched this week by Accord, an arm of […]

See full article at https://petn.ws/4OVR7 #PetFinancialNews

[johnbrownnn]

Stay informed with free updatesSimply sign up to the Companies myFT Digest -- delivered directly to your inbox.Two of the biggest business trends in the past few years have been record amounts of labour action and a rise in antitrust cases. This year alone, for example, America has recorded the most working days missed due to strikes in almost a quarter of a century, and has also seen the most aggressive anti-monopoly action in decades. Both of these trends, which are also present in Europe and elsewhere, are a reaction to decades of corporate consolidation and record profits.While it once seemed that rising wage inflation and a pandemic-era trend towards supply chain de-risking would start to erode corporate power, the latest UN Trade and Development Report shows that hasn’t happened yet. In fact, both consolidation and profits increased dramatically during Covid-19, with worrisome repercussions including price gouging and food insecurity. If concentration is a concern in the rich world, it is even more of one in poorer nations. High levels of export concentration among the largest 2,000 firms globally increased during the pandemic. This was particularly true in developing countries, where data shows that the top 1 per cent of exporting businesses within each country received between 40 and 90 per cent of total export revenues for the nation as a whole. The median rate of corporate export concentration in a database of 30 developing countries is a whopping 40 per cent.The authors of the Unctad report note that this increase during the pandemic raises “concerns about market control and the distribution of the gains from trade” in countries that were previously counting on trade expansion to put more people in work. The rise in corporate concentration has also mirrored the continued decline of labour share globally, which is down from 57 per cent in 2000 to 53 per cent today. As the authors put it: “The declining labour share and the rising profits of [multinationals] point to the key role of large corporations dominating international activities . . . [and] driving up global functional income inequality”.This divide has had particularly pernicious effects in commodities markets. Despite a softening in demand, many commodity prices have not returned to pre-pandemic levels. Fuel and agricultural commodities in particular are still elevated, leading to food insecurity for millions.Financialisation plays a key role in this. “The growing importance of financial activities as part of the business model of companies has become an amplifier of their power,” says Richard Kozul-Wright, director of Unctad’s globalisation and development strategies division, “creating many more chokepoints that can be used to extend the bottom line.”According to the report’s authors, “unregulated activity within the commodities sector contributes to speculative price increases and market instability” that has exacerbated the global food crisis. They go so far as to blame corporate price gouging for a large chunk of high food prices. “Profiteering from financial activities now drives profits in the global food trading sector.”Indeed, a vicious cycle has emerged between higher energy and food production costs, reduced farm yields and higher food prices. Rising fertiliser prices mean farmers use less of them, which means lower yields and higher inflation. The snowball cycle of higher prices is exacerbated by higher interest rates, which raise the cost of all inputs. And yet, in the middle of rising prices, big commodity trading companies have enjoyed record profits. In July 2023, Oxfam estimated that 18 large global food and beverage companies had made windfall profits of $14bn in the previous two years.How much of that is due to price gouging? It is impossible to know, but one Allianz report estimated that 20 per cent of food inflation was down to profiteering. Another study from Greenpeace found that the 10 leading momentum-driven hedge funds made $1.9bn trading on food prices in the first three months of 2022 as the war in Ukraine began.Unctad finds correlation, though no causation, between corporate profiteering, the use of financial instruments and food volatility. Showing causal results is difficult, partly because hedging is part of the business model of commodity companies, but also due to opacity in the sector. Only eight out of the top 15 food trading companies are publicly traded.Still, there’s a strong link between historic profits at the top four food traders — ADM, Bunge, Cargill and Louis Dreyfus — and periods of price volatility. At the very least, this suggests that we need to scrutinise how commodities companies are using financial instruments to hedge their own commercial positions, versus trading designed to ride a wave of market volatility. This was something that US regulators attempted to crack down on with the 2010 Dodd-Frank Act, after the 2008 crisis. Unfortunately, their efforts were diluted, thanks in large part to lobbying by Big Food.The link between corporate profits and hunger is just the most egregious example of a balance of power between capital and labour that has become dangerously out of kilter. Global strikes and antitrust action are a reaction to this, and will undoubtedly continue until the pendulum swings back, as it slowly but surely always does when economic systems become unbalanced. I expect calls to reform the global trade system, which is itself both complex and opaque, will continue, too. rana.foroohar@ft.com Source link

[everysshkey]

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[christinamac1]

EU agrees to a compromise on nuclear energy amid French pressure

Get local insights from Lisbon to Moscow with an unrivalled network of journalists across Europe, expert analysis, our dedicated ‘Brussels Briefing’ newsletter. Customise your myFT page to track the countries of your choice. The EU has reached a compromise on new targets for renewable energy afteragreeing to make an exception for nuclear power in certain sectors amidpressure from France.…

[truck-fump]

Joe Biden's $72mn fundraising haul eclipses <b>Trump</b> and DeSantis efforts - Financial Times

New Post has been published on https://www.google.com/url?rct=j&sa=t&url=https://www.ft.com/content/2490229d-4d9c-4341-93a1-dff91e7fb865&ct=ga&cd=CAIyGjUzM2UwMTY5ZmFhZTIwMGQ6Y29tOmVuOlVT&usg=AOvVaw0WxB6l0GAWSqvRCTS7pR8R

Joe Biden's $72mn fundraising haul eclipses Trump and DeSantis efforts - Financial Times

We’ll send you a myFT Daily Digest email rounding up the latest US presidential election 2024 news every morning. Joe Biden and the Democratic party …