Dollar value – Alg A http://alg-a.com/ Wed, 24 Nov 2021 13:35:17 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://alg-a.com/wp-content/uploads/2021/10/icon-6-120x120.png Dollar value – Alg A http://alg-a.com/ 32 32 Chinese yuan remains stable against the dollar, value against its peers reaches its highest level in 6 years https://alg-a.com/chinese-yuan-remains-stable-against-the-dollar-value-against-its-peers-reaches-its-highest-level-in-6-years/ Wed, 24 Nov 2021 05:21:00 +0000 https://alg-a.com/chinese-yuan-remains-stable-against-the-dollar-value-against-its-peers-reaches-its-highest-level-in-6-years/ SHANGHAI, Nov. 24 (Reuters) – The yuan was broadly stable against the dollar on Wednesday, although its value peaked nearly six years on a currency index belonging to China’s major trading partners. A booming trade surplus, fueled by strong export growth and seasonal year-end demand, helped the yuan resist overall dollar strength as exporters converted […]]]>

SHANGHAI, Nov. 24 (Reuters) – The yuan was broadly stable against the dollar on Wednesday,

although its value peaked nearly six years on a currency index belonging to China’s major trading partners.

A booming trade surplus, fueled by strong export growth and seasonal year-end demand, helped the yuan resist overall dollar strength as exporters converted more revenue to dollars, the yuan said. tradespeople.

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Before the market opened, the People’s Bank of China (PBOC) pegged the median rate at 6.3903 per dollar, 26 pips higher than the previous patch of 6.3929.

Wednesday’s midpoint largely matched market expectations after being consistently weaker than projections over the past week.

The firmer fixation sent the index measuring the trade-weighted value of the yuan (.CFSCNYI) to a nearly six-year high of 102.53, the highest since December 3, 2015 and up 8.11% since the beginning of the year.

However, the onshore yuan only gained 2.14% against the dollar during the same period.

“The authorities appear to have focused more on supporting the USD / CNY rather than capping the RMB index,” Irene Cheung, senior Asia strategist at ANZ.

Cheung added that the recent weaker-than-expected mid-term fixings of the yuan and occasional dollar purchases by state banks have helped to cap the yuan between 6.36 and 6.37 per dollar.

In the spot market, the onshore Yuan opened at 6.3890 to the dollar and changed hands at 6.3918 by noon, 5 pips lower than the previous session’s close.

Despite strong business demand for the yuan, traders said market participants questioned whether the yuan would change course, given the prospect of tightening monetary policy in other major economies, including the United States. United.

“We expect the Chinese yuan to continue to trade well, even as the US Federal Reserve has embarked on the normalization of its monetary policy,” ANZ’s Cheung said.

But a trader at a Chinese bank said the rapid growth seen in the export sector since the pandemic was unsustainable, while any potential Fed interest rate hikes next year would inevitably attract capital. global to dollar-denominated assets.

As of noon, the broad dollar index stood at 96.578 from the previous close of 96.517, while the offshore yuan traded at 6.3931 per dollar.

The yuan market at 0401 GMT:

PLACE ON LAND:

Key indexes:

* Divergence in dollar / yuan exchange rate. A negative number indicates that the spot yuan is trading stronger than the midpoint. The People’s Bank of China (PBOC) allows the exchange rate to rise or fall 2% from the official median rate it sets each morning.

CNH OFFSHORE MARKET

* Premium for the offshore spot on onshore

** The figure reflects the difference from the official midpoint of the PBOC, as undeliverable futures are settled relative to the midpoint. .

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Reporting by Winni Zhou and Andrew Galbraith; Editing by Simon Cameron-Moore

Our standards: Thomson Reuters Trust Principles.


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Every 30 days, inflation reduces the value of the US dollar by 1% https://alg-a.com/every-30-days-inflation-reduces-the-value-of-the-us-dollar-by-1/ https://alg-a.com/every-30-days-inflation-reduces-the-value-of-the-us-dollar-by-1/#respond Thu, 11 Nov 2021 10:50:13 +0000 https://alg-a.com/every-30-days-inflation-reduces-the-value-of-the-us-dollar-by-1/ Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please review our website policy before making any financial decisions. According to the latest figures released by the United States Bureau of Labor Statistics, the state of the economy can be clearly summed up as this tweet by Preston Byrne. “According to […]]]>
Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please review our website policy before making any financial decisions.

According to the latest figures released by the United States Bureau of Labor Statistics, the state of the economy can be clearly summed up as this tweet by Preston Byrne.

“According to official figures, your money now loses 1% of its value every 30 days.”

What is the state of inflation right now?

Inflation for all items has now increased to 6.2%. This means that your dollars are worth less when you pay for products and services. This level of inflation represents the largest increase in the past 20 years.

Image credit: US Bureau of Labor Statistics

Of course, the official data itself could be massaged to keep markets calm, as Anthony Pompliano suggests. He suggests the “unofficial figure” is over 10%, which would paint an even darker picture for the US economy.

That’s why Jack Dorsey, the owner of Twitter and Square, with his access to direct merchant data, claimed that we are already at the onset of hyperinflation.

What we do know is how the Federal Reserve’s forecast turned out. At March 17, 2021, the Federal Open Market Committee (FOMC) placed the inflation forecast at 2.2%, like the core PCE (Personal consumption expenditure excluding food and energy). This rate was expected to drop to 2.0% in 2022.

Image credit: Federal Open Market Committee (FOMC)

Instead of following the forecast of the world’s most powerful monetary institution, the core PCE doubled, which is no small mistake to overlook. To make matters worse, personal income growth has turned negative, presenting another market force that depreciates the value of consumers’ assets.

October is even worse than September, as shown here, image credit: Bureau of Economic Analysis (BEA)

Overall, confidence in the economy is weakening day by day, exacerbated by events like the Great Resignation as people become disillusioned with work. Needless to say, this cocktail of failed forecasts, labor shortages and major supply chain disruptions does not bode well for the U.S. economy.

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How did the Fed contribute to inflation

When the first lockdowns were announced in March 2020, the stock market collapsed, an event now dubbed “Black Thursday”.

The blue-chip stock index, S&P 500, plunged after looming closures (Image credit: fred.stlouisfed.org)

The Fed came to the rescue by significantly stepping up its quantitative easing (QE) program, pumping unprecedented new money into the economy. It should be noted that the first uses of QE date back to 2008, which makes the program relatively untested in terms of its long-term consequences.

M1 money supply includes bank check deposits and money in circulation (image credit: fred.stlouisfed.org)

Since the 2008 financial crisis, the Fed has supported the stock market with quantitative easing (QE). This practice of QE is very controversial because the Fed intervenes directly and continuously in the market by buying financial assets and government bonds.

Through its Open Market operations (OMO), created in the 1920s, QE aims to stimulate the economy by injecting new money into it, however, this creates three major effects:

  • The money supply grows, resulting in a devaluation of the dollar.
  • An overheated economy with assets expanding at an unsustainable rate.
  • Liquidity traps, making Fed policies ineffective because confidence in the economy is not strong enough for people to spend, leading them to save more. This makes low interest rates virtually useless as a tool to stimulate the economy.

Liquidity traps are further exacerbated when it is already known that the younger generations save more than they spend.

Can the Fed Reverse Inflation?

Tapering – which means cutting bond purchases to raise interest rates – should hopefully calm the overheating economy. Unfortunately, this is becoming more and more difficult to achieve. Used to cheap money, the stock market has become dependent on the Fed’s QE. Therefore, the last time the tapering was attempted, the stock market responded with a “taper tantrum” in May 2013, which caused the S&P 500 to fall 5.6%.

Image Credit: FisherInvestments

Suffice to say that the stock market has risen more and more more dependent on the Fed since 2013. When borrowing becomes more expensive after the Fed raises interest rates, the market can drop significantly.

The Fed has spoken of tapering on several occasions, the last November 3.

“… the Committee has decided to begin reducing the monthly pace of its net asset purchases by $ 10 billion for Treasury securities and $ 5 billion for agency mortgage-backed securities. “

While the Fed’s track record of accurate forecasting is poor, the stock market may have already forecast a decline. Nonetheless, the larger context will end up being the deciding factor.

“If we see that inflation remains stubbornly high, or goes even higher in the first quarter, it will scare the market,” he added. Sam Stovall, Chief Investment Strategist at CFRA research.

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Did the increase in the inflation rate motivate you to keep your savings in a “crypto-bank?” Let us know in the comments below.

About the Author

Tim Fries is the co-founder of The Tokenist. He has a BSc in Mechanical Engineering from the University of Michigan and an MBA from the Booth School of Business at the University of Chicago. Tim was a Senior Associate in the investment team of RW Baird’s US Private Equity division and is also a co-founder of Protective Technologies Capital, an investment firm specializing in detection, protection and protection solutions. control.



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Hertz orders 100,000 Teslas, bringing electric vehicle maker market value to $ 1,000 billion – Orange County Register https://alg-a.com/hertz-orders-100000-teslas-bringing-electric-vehicle-maker-market-value-to-1000-billion-orange-county-register/ https://alg-a.com/hertz-orders-100000-teslas-bringing-electric-vehicle-maker-market-value-to-1000-billion-orange-county-register/#respond Mon, 25 Oct 2021 19:42:44 +0000 https://alg-a.com/hertz-orders-100000-teslas-bringing-electric-vehicle-maker-market-value-to-1000-billion-orange-county-register/ By Tom Krisher | The Associated Press Hertz said on Monday it would buy 100,000 electric vehicles from Tesla, one of the largest battery-powered car purchases in history and the latest proof of the country’s growing commitment to EV technology. Purchase by one of the world’s leading car rental companies reflects its belief that electric […]]]>

By Tom Krisher | The Associated Press

Hertz said on Monday it would buy 100,000 electric vehicles from Tesla, one of the largest battery-powered car purchases in history and the latest proof of the country’s growing commitment to EV technology.

Purchase by one of the world’s leading car rental companies reflects its belief that electric vehicles are increasingly accepted by environmentally conscious consumers as an alternative to vehicles powered by combustion engines internal oil-fired.

The Hertz order helped push Tesla’s stock price up nearly 13% into record territory on Monday night. The stock traded at $ 1,024.84, bringing the total market value of the world’s most valuable automaker to just over $ 1,000 billion for the first time. The increase also added $ 23.7 billion to the net worth of Tesla CEO Elon Musk, the richest man in the world. It is now worth just over $ 253 billion, according to Forbes.

In an interview with The Associated Press, Mark Fields, Hertz’s interim CEO, said Tesla’s were already arriving at company locations and should be available for hire from November.

Hertz announced on Monday that it would buy 100,000 electric vehicles from Tesla. (AP File Photo / David Zalubowski)

Hertz said in its announcement that it will complete its purchases of Tesla Model 3 small cars by the end of 2022. It also said it will establish its own electric vehicle charging network as it strives to produce the largest rental fleet of electric vehicles in the North. America.

Fields would not say how much Hertz is spending on the order. But he said the company had sufficient capital and a healthy balance sheet after exiting bankruptcy protection in June.

The deal is probably worth around $ 4 billion, as each Model 3 has a base price of around $ 40,000. It also tops the list for single company electric vehicle orders. In 2019, Amazon ordered 100,000 electric delivery vans from Rivian, a young manufacturer of electric vans, pickup trucks and SUVs. Amazon is an investor in Rivian, based in Irvine.

Read more: Why Southern California is a New Electric Vehicle Mecca, with Rivian, Lordstown, and Karma

In his interview with the AP, Fields made it clear his belief that electric vehicles are becoming more widespread and that Hertz intends to be one of the leading providers of electric vehicles to rental customers. He pointed to surveys showing that over the past five years, consumer interest in electric vehicles has increased dramatically.

“More are ready to try and buy,” he said. “It’s quite astonishing.”

Fields said Hertz, which is based in Estero, Fla., Is also in talks with other automakers to purchase additional electric vehicles as it expands its electric vehicle fleet as more models come onto the market.

Hertz is also investing in its own charging network. Fields said it expects 3,000 chargers in 65 locations across the United States by the end of 2022 and 4,000 by the end of 2023. Many sites will be located in Hertz locations such as airports. , he said, while others will be in the suburbs. areas.

Customers could also use Tesla’s large charging network for a fee, Fields said. The company has a network of around 25,000 chargers around the world.

Fields declined to say how much Hertz will charge to lease the Teslas or whether they would be more expensive to customers than gasoline vehicles.

Daniel Ives, technology analyst at Wedbush Securities, wrote in a note to investors on Monday that Hertz’s order represents a “major feather in the hat” for Tesla and shows that widespread adoption of electric vehicles is underway “in the market. part of this coming green shift “. tidal wave hitting the United States “

China and Europe are ahead of the United States in vehicle electrification. But demand in the United States is accelerating, Ives noted, with Tesla in the lead, followed by startups Lucid Motors, General Motors, Ford and others looking for a potential $ 5,000 billion market opportunity over the course. of the next decade.

In an interview, Ives said he expects other car rental companies to follow Hertz’s lead.

“It is also a red flag for the rest of the industry,” he said.

Ives suggested the deal would help Tesla and other manufacturers by giving thousands of consumers the experience of driving electric vehicles that might not have otherwise been able to.

“This is the ultimate test drive,” he said. “For a company that doesn’t normally market, this is the best branding and marketing deal they’ve ever made,” he said of Tesla.

Hertz’s order could also help ease a nationwide shortage of rental cars, he said. Automakers have cut production and sales to car rental companies due to a global shortage of computer chips.

Still, Ives said he didn’t expect Hertz to receive a significant number from Tesla until the automaker’s new plant near Austin, Texas begins production at the end of the year. next.

Hertz will likely charge customers more to lease Model 3s compared to conventional combustion-engine vehicles, Ives noted.

Hertz Global Holdings Inc. filed for bankruptcy in May 2020, two months after the coronavirus erupted across the country. It was one of the first large companies to be brought down by the pandemic as infections increased and halted global travel for businesses and vacationers.

In October, Hertz appointed Fields, a former CEO of Ford Motor Co., as interim general manager.

Shortly after Hertz’s announcement on Monday, the National Transportation Safety Board issued a letter from its chairman berating Tesla for failing to respond to recommendations from several fatal crash investigations involving the driver assistance system partially automated company autopilot. The agency recommended four years ago that Tesla limit where its autopilot system can operate and that it better monitor drivers to make sure they are careful.


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Shahbaz says rising dollar could be the result of “clandestine IMF deal” https://alg-a.com/shahbaz-says-rising-dollar-could-be-the-result-of-clandestine-imf-deal/ https://alg-a.com/shahbaz-says-rising-dollar-could-be-the-result-of-clandestine-imf-deal/#respond Mon, 25 Oct 2021 16:29:00 +0000 https://alg-a.com/shahbaz-says-rising-dollar-could-be-the-result-of-clandestine-imf-deal/ President of the PML-N and leader of the opposition in the National Assembly Shahbaz Sharif. Photo: APP ISLAMABAD: Opposition leader in the National Assembly Shahbaz Sharif, in his criticism of the economic policies of the government in power, said that the rise in the value of the dollar could be the result of a “clandestine […]]]>
President of the PML-N and leader of the opposition in the National Assembly Shahbaz Sharif. Photo: APP

ISLAMABAD: Opposition leader in the National Assembly Shahbaz Sharif, in his criticism of the economic policies of the government in power, said that the rise in the value of the dollar could be the result of a “clandestine agreement with the Fund international monetary policy (IMF) “, Geographic news reported Monday.

Shahbaz, in an official statement, said the people are getting poorer with the rising dollar, but the government is oblivious to their misery.

“History has witnessed that any increase in dollar prices has always increased inflation in the country,” Shahbaz said, adding that leaders maintain “criminal silence” on the issue of rising dollar prices, while like their silence on inflation.

The opposition leader called the continued rise in dollar rates “destructive” to the national economy and “dangerous” to national security and urged the government to inform parliament of the outcome of talks with the IMF if the agreement with him was not concluded. t finished.

“There is something fishy about hiding the terms and conditions agreed with the IMF from parliament,” Shahbaz said.

He said people are paying the price for accepting the terms offered by the IMF in terms of inflation and unemployment.

The rupee hit a new all-time low of 174.43 rupees against the US dollar in the interbank market on Monday amid mounting pressure from import payments as well as looming uncertainty over a delay in the decision of the IMF on the resumption of the Extended Financing Facility (EFF) of $ 6 billion.

Today the dollar has increased by Rs 0.43 in the interbank market, while in the open market the dollar has increased in value by Rs 1.20.

Currently the value of the dollar is Rs175.5 on the open market.


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Tesla heads for trillion dollars as electric vehicles go mainstream https://alg-a.com/tesla-heads-for-trillion-dollars-as-electric-vehicles-go-mainstream/ https://alg-a.com/tesla-heads-for-trillion-dollars-as-electric-vehicles-go-mainstream/#respond Mon, 25 Oct 2021 15:28:16 +0000 https://alg-a.com/tesla-heads-for-trillion-dollars-as-electric-vehicles-go-mainstream/ (Bloomberg) – Tesla Inc. on Monday joined an elite group of companies with a market value of at least $ 1,000 billion, a key milestone for the Elon Musk-led automaker whose shares have been tearing apart in the middle of a global transition to electric vehicles. The maker of the Model 3 sedan – the […]]]>

Tesla Inc. on Monday joined an elite group of companies with a market value of at least $ 1,000 billion, a key milestone for the Elon Musk-led automaker whose shares have been tearing apart in the middle of a global transition to electric vehicles.

The maker of the Model 3 sedan – the world’s best-selling electric car – is now the second fastest company to reach the mark, in just over 11 years since its public debut in June 2010. Facebook Inc. did faster, although its market cap is now less than $ 1,000 billion as the stock has sold in the past two months. Other US-listed members of the trillion dollar club include Apple Inc., Microsoft Corp., Alphabet Inc., and Amazon.com Inc.

Tesla stock closed 13% higher, its biggest one-day move since March 9, at a new high of $ 1,024.86. This lifted its market cap comfortably above $ 1,000 billion, based on roughly one billion shares outstanding as of October 21.

“Tesla stocks tend to be quite volatile and driven by a wide range of difficult-to-understand market forces,” Morgan Stanley analyst Adam Jonas wrote in a note. While the analyst estimates Tesla shares to be worth $ 1,200, Jonas doesn’t expect stocks to trade at such a high in the near term, the analyst noted.

Tesla’s addition to the mega-cap tech name coterie comes as the auto industry stands on the cusp of a massive transformation, with electric vehicles set to replace gasoline-powered cars around the world. The company and its charismatic and often controversial co-founder and CEO, Elon Musk, are seen as a key driver of this change.

Musk’s wealth has also skyrocketed alongside the company’s latest stock price hike. The billionaire co-founder is now the richest man in the world, with a net value of about $ 281 billion. Musk is also Tesla’s largest shareholder, with nearly 17% stake, according to Bloomberg data.

Read more: Elon Musk’s Wealth Exceeds One-Quarter Billion Dollars

The company’s shares have had a straight streak over the past five months, climbing more than 80% since mid-May. However, the rally took a big boost this month amid a wave of encouraging headlines: strong third-quarter earnings and deliveries, a big order from car rental giant Hertz Global Holdings Inc. , and a report that the company’s Model 3 was the best-selling vehicle in Europe last month.

“Tesla is the leader in electric vehicle manufacturing, batteries and range,” Morgan Stanley wrote on Monday. “Tesla also has a suite of enabling technologies and other activities that would allow the company to be a long-term automotive and energy champion.”

The push to electrify all modes of transportation – especially cars, trucks, buses and vans – has escalated rapidly this year, with governments pledging to find solutions to the climate change crisis . Countries around the world have announced policies to reduce carbon emissions and encourage companies to adopt greener technologies. The entire electric vehicle ecosystem – including automakers, battery developers, and charging network operators – has grown as a result.

“The outlook for electric vehicle adoption is improving thanks to a combination of increased political support, further improvements in battery density and cost, construction of additional charging infrastructure and growing commitments from automakers, ”Bloomberg New Energy Finance noted in a September report. . The BNEF has estimated that sales of electric passenger vehicles will increase sharply over the next few years, reaching 14 million in 2025 against 3.1 million in 2020.

Still, some say those bright, shiny growth figures still don’t fully justify Tesla’s gigantic size. It is not only the largest automaker in the world, its market capitalization is significantly higher than that of all the major automakers taken together. However, Tesla still only manufactures a fraction of the number of cars that some of these companies, like General Motors Co., produce.

“We recognize that Tesla is performing flawlessly, but that does not change our view. Tesla is extremely overvalued,” wrote Craig Irwin, analyst at Roth Capital Partners, in a note on Oct. 21, saying that the current valuation of the company appears to be based on “the specious assumption. that the hundreds of electric vehicles slated for launch by 2025 will all be flops.”

Competition is indeed intensifying. After being on the sidelines for years, with mostly hybrid cars or a few electric cars in their lineup, nearly every major traditional auto company this year has announced aggressive plans to manufacture electric vehicles and develop the required ecosystem that includes batteries and charging station networks.

On the flip side, bullish investors and analysts believe Tesla should not be compared to its automotive counterparts at all. It’s more like a tech company, they claim, and is properly priced accordingly.

Tesla shares are currently trading at 178 times their estimated earnings in 2021, compared to 43 times the NYSE + FANG index, whose other nine members include Nvidia Corp., Alphabet, Apple, Twitter Inc., Facebook, Amazon.com, Netflix Inc., Alibaba Group Holding Ltd. and Baidu Inc.


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MassMutual Bitcoin investment tripled in dollar value https://alg-a.com/massmutual-bitcoin-investment-tripled-in-dollar-value/ https://alg-a.com/massmutual-bitcoin-investment-tripled-in-dollar-value/#respond Fri, 15 Oct 2021 17:19:49 +0000 https://alg-a.com/massmutual-bitcoin-investment-tripled-in-dollar-value/ The Massachusetts insurance company’s $ 100 million bitcoin purchase in December 2020 is now worth more than $ 300 million. MassMutual has more than tripled the dollar value of its bitcoin investment in less than a year. The insurance company bought an undisclosed amount of BTC for $ 100,000,000 on December 10, 2020, as the […]]]>

The Massachusetts insurance company’s $ 100 million bitcoin purchase in December 2020 is now worth more than $ 300 million.

  • MassMutual has more than tripled the dollar value of its bitcoin investment in less than a year.
  • The insurance company bought an undisclosed amount of BTC for $ 100,000,000 on December 10, 2020, as the price of bitcoin hovered around $ 18,500.

Massachusetts Mutual Life Insurance Company has more than tripled its bitcoin investment in less than a year. The previous BTC / USD high before December 10 was $ 19,918, and at the time of writing, a bitcoin was worth over $ 60,000.

In December, MassMutual obtained a $ 100 million bitcoin purchase through institutional bitcoin service provider NYDIG. The Massachusetts-based insurance company jumped on the Bitcoin hype bandwagon with the announcement of its millionaire acquisition, empowered by assistance from NYDIG.

MassMutual explained in December that its acquisition of BTC was part of a strategy to remain diversified while taking advantage of new opportunities that arise, the Wall Street newspaper reported. In addition to the $ 100 million bitcoin purchase, MassMutual acquired a $ 5 million stake in NYDIG itself.

The precise amount of bitcoin that MassMutual purchased is unknown, but given the time of the announcement, some approximations can be made. On December 10, 2020, the all-time Bitcoin (ATH) price high was $ 19,918. At the time of writing, a bitcoin is worth over $ 60,000, which means MassMutual has more than tripled its investment in less than a year.

As Bitcoin begins to move closer to its current ATH of $ 64,895, Bitcoiners are mostly profitable in dollar terms, and so are institutions.

Jack Dorsey’s Square, for example, has officially more than doubled his money on his Bitcoin investment. The company’s $ 220 million purchase of BTC is now worth more than $ 470 million. Michael Saylor’s MicroStrategy is also good green. The company’s $ 3.16 billion investment in BTC is now worth more than $ 6.7 billion.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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Infinity tables a billion dollars worth for a lithium mine https://alg-a.com/infinity-tables-a-billion-dollars-worth-for-a-lithium-mine/ https://alg-a.com/infinity-tables-a-billion-dollars-worth-for-a-lithium-mine/#respond Fri, 15 Oct 2021 04:47:36 +0000 https://alg-a.com/infinity-tables-a-billion-dollars-worth-for-a-lithium-mine/ Infinity Lithium Corporation has estimated the net present value of its San José underground lithium mine and hydroxide plant project in Spain at US $ 811.7 million, which translates into a whopping US $ 1.094 billion in Australian dollars. The company says the project will generate US $ 190 million per year for 26 years […]]]>

Infinity Lithium Corporation has estimated the net present value of its San José underground lithium mine and hydroxide plant project in Spain at US $ 811.7 million, which translates into a whopping US $ 1.094 billion in Australian dollars. The company says the project will generate US $ 190 million per year for 26 years in free cash flow from the annual production of 19,500 tonnes of battery-grade lithium hydroxide.

He estimates an impressive mine life of US $ 7.9 billion at a modeled price of US $ 17,000 per tonne of battery grade lithium hydroxide.

Notably, management says it should be able to repay the $ 532 million in capital required to build San José in just 3.2 years.

Located in the Cáceres region of western Spain, San José is the second largest hard rock lithium deposit in the European Union and has a gigantic resource of 111 million tonnes containing 0.61% d lithium oxide.

The scoping study builds on a 2019 pre-feasibility study and subsequent testing of mineral processing in San José, when the company previously considered surface mining as part of the project.

It initiated the scoping study to assess the prospects for an underground-only mining operation that minimizes the impact on the environment and community stakeholders.

The company believes the study showed the potential of an underground mine in San José to generate increased amounts of battery-grade lithium chemicals, while improving social, environmental and visual impacts.

Management says the proposed underground mining would reduce the need for surface tailings and prevent any major visible impact from mining.

An increase in direct and indirect jobs is also envisioned at the integrated underground lithium mining and processing business which management believes will likely employ around 710 people.

Infinity Lithium CEO Ryan Parkin said:“We are delighted to provide an alternative and viable option to complete this strategically essential project which provides multiple benefits to the locality of Cáceres while meeting the broader critical requirement for battery grade lithium chemicals in the region. ‘EU. The integrated underground mine and lithium hydroxide scoping study builds on extensive testing work that recently resulted in the production of battery grade lithium hydroxide and carbonate. The company looks forward to working with all stakeholders to achieve an exceptional result as we move forward in San José and provide an alternative solution for local and regional governments. “

Infinity’s proposal is a little different from standard hard-rock lithium mining operations that typically mine the lithium on-site before sending it in concentrated form to a lithium hydroxide manufacturer – usually in China.

It’s ultimately the lithium hydroxide chemical that battery makers want to make, but these two operations have traditionally been separate – and often on separate continents.

Infinity plans to set up a lithium hydroxide plant right next to its mine and cut all intercontinental transportation costs.

Recent research by global financial services firm JP Morgan concluded that demand for lithium could increase by more than 500% by 2030, driven by the appetite of the electric vehicle sector where demand is expected to increase nearly times of ten.

Infinity believes San José could play a key role in helping Spain and the European Union source battery-grade lithium hydroxide to meet the expected future adoption of electric vehicles.

It indicates that Europe is the second largest market for battery-grade lithium after China, while Spain is the second largest automaker in the European Union, having produced some 2.8 million vehicles in 2019.

According to the company, registrations of electric vehicles in the third quarter of 2020 in the European Union exceeded registrations of vehicles with internal combustion diesel engines for the first time. Electric vehicle sales accounted for 15% of all vehicle sales in the European Union in the first quarter of 2021.

With electric vehicle adoption in Europe showing no signs of slowing down, Infinity appears to be in pole position to meet growing demand for lithium hydroxide in Europe. With both a lithium mine and a lithium hydroxide plant under its control, Infinity may well become a force to be reckoned with in the rising tide of lithium.

Is Your ASX Listed Company Doing Something Interesting? Contact: matt.birney@businessnews.com.au


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Why companies need to help recycle glass and aluminum in Asia – Brasserie Lion https://alg-a.com/why-companies-need-to-help-recycle-glass-and-aluminum-in-asia-brasserie-lion/ https://alg-a.com/why-companies-need-to-help-recycle-glass-and-aluminum-in-asia-brasserie-lion/#respond Tue, 07 Sep 2021 02:17:00 +0000 https://alg-a.com/why-companies-need-to-help-recycle-glass-and-aluminum-in-asia-brasserie-lion/ Although pollution and plastic recycling have often been at the center of sustainability discussions in the food industry, a sector like alcoholic beverages uses much less plastic but more glass and aluminum for its packaging. Alcoholic beverage company Lion, which is a subsidiary of Japanese giant Kirin and also operates several well-known brands in Australia […]]]>

Although pollution and plastic recycling have often been at the center of sustainability discussions in the food industry, a sector like alcoholic beverages uses much less plastic but more glass and aluminum for its packaging.

Alcoholic beverage company Lion, which is a subsidiary of Japanese giant Kirin and also operates several well-known brands in Australia and New Zealand including Lion, Kirin, Steinlager, Little Creatures and many more, recently released its report. Sustainability 2020, highlighting its achievement of becoming Australia’s first carbon neutral brewer in April 2020.

“As a business, Lion is ultimately a heavy consumer of energy – we use both electricity and natural gas for our operations, where the former is used extensively for refrigeration and motors and more, and the second in particular for boilers “,Lion Environment Director Justin Merrell said FoodNavigator-Asia.

“It was particularly difficult to find a sustainable substitute for natural gas, [but overall] in 2020, we managed to reduce our carbon footprint by 28% in absolute terms since 2015, which puts us on track to meet our carbon reduction target of 55% by 2030.

“For all the carbon emissions that we have failed to eliminate by increasing energy efficiency or using solar power or biogas, we have purchased certified carbon credits to offset any remaining footprint.”

When it comes to packaging issues, Merrell stressed that alcoholic beverage companies need to care more about aluminum and glass than plastic, but added that their high recyclability still makes them a good packaging choice. .


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The real story behind the search for the dollar value of 9/11 victims https://alg-a.com/the-real-story-behind-the-search-for-the-dollar-value-of-9-11-victims/ https://alg-a.com/the-real-story-behind-the-search-for-the-dollar-value-of-9-11-victims/#respond Fri, 03 Sep 2021 07:00:00 +0000 https://alg-a.com/the-real-story-behind-the-search-for-the-dollar-value-of-9-11-victims/ Michael Keaton and Stanley Tucci in Netflix movie Value. The new film is based on the incredibly difficult but very real task of giving monetary value to those who died in the 9/11 terrorist attacks. Keaton plays Kenneth Feinberg, the man responsible for finding this value. He wrote the thesis What is life worth? : […]]]>

Michael Keaton and Stanley Tucci in Netflix movie Value. The new film is based on the incredibly difficult but very real task of giving monetary value to those who died in the 9/11 terrorist attacks.

Keaton plays Kenneth Feinberg, the man responsible for finding this value. He wrote the thesis What is life worth? : The unprecedented effort to compensate the victims of September 11 based on his experiences, revealing how he crafted his eight-part plan to define the value of every life lost.

Feinberg has been asked to create compensation funds for a number of similar purposes in the past. He organized settlements, funds and compensation plans for the victims of 9/11, the BP oil spill, the bank bailout, the GM car recall and other monumental news events. As he said in a public lecture presented by Hyatt, the thing he finds the most difficult “is not to design them” or “to define the conditions of eligibility”, the most difficult part is “the emotion you are facing from innocent people”.

Value, written for the screen by Max Borenstein (Godzilla), focuses on the emotional implications that Feinberg faced when he was appointed Special Master of the U.S. Government’s 9/11 Compensation Fund by President George W. Bush in 2001.

After reading What is the value of life? Per Feinberg, Borenstein says he felt passionate about developing the story in a movie. He said: “Ken’s memoir is really interesting. In some ways it’s a very dry account of the administration of the fund that’s factual and interesting but dry people, anonymized to protect them but with their permission.

“It’s incredibly moving and heartbreaking,” Borenstein said.

Michael Keaton in the new movie “Worth” and Kenneth Feinberg photographed in 2014.
Pepe Avila Del Pino / Alex Wong / Netflix / Getty Images

Feinberg’s 8-part plan

In Feinberg’s book, he explains in detail each step of his eight-part plan that he applied to the 9/11 compensation fund and figured out how much a person was getting. Here’s a quick summary of his plan:

  1. Identify people with broad and sufficient experience in legal affairs.
  2. Support and follow the law regarding proportional compensation of victims based on loss of future income.
  3. Accumulate reports and requests to start the direct compensation process.
  4. Ensuring that 85 percent of the money does not go to the 15 percent of the “richest” claimant families by closing the gap between the largest compensation payments and the smallest paid.
  5. The program process should be maintained as a precedent that future courts could use in similar circumstances.
  6. There should be “no substitute for hard work and legal know-how” of rigorous intellectual honesty.
  7. Acknowledging the support of Senator Edward Kennedy throughout.
  8. Prosecutions were to be discouraged because they were contrary to the spirit of the law establishing the compensation fund.

See the situation through Feinberg’s eyes

Value Writer Borenstein believes that witnessing this period of American history through Feinberg’s eyes ultimately allows the public to see the large-scale implications and unexpected complications caused by 9/11.

He said, “It’s not Ken’s story. It’s an American story but it’s a story where he’s an ordinary man in a way. Faulty but he’s going through an emotional shift.

“He [Feinberg] sees loss and sorrow and then finally the beginnings of healings from a human place. He’s a witness to it and he’s obligated to engage with it and there are times when he stumbles, but there are countless ways it could have gone wrong. “

Michael Keaton and Stanley Tucci
Michael Keaton and Stanley Tucci play Kenneth Feinberg and Charles Wold in Netflix’s “Worth”.
Netflix

Criticism of the Victims Compensation Fund

While Keaton plays lawyer Feinberg, Stanley Tucci plays his foil, Charles Wolf. Wolf lost his wife Katherine on September 11 and initially did not like the system in place for the 9/11 Victims Compensation Fund. He created his own website called Fix The Fund.

Talk to Fox News, Wolf recalled his problems with the first fund which is seen in the film Value. In 2019, he said: “The first incarnation (of the fund) had a two-year nomination limit but no monetary limit, Congress had to appropriate the money.”

A second fund was eventually established and continued to campaign for financial compensation for the families of the victims and for those who suffered long-term health repercussions from the injuries and illnesses developed as a result of the events of the 11th. September.

Jon Stewart led the campaign for years until President Donald Trump eventually signed the Never Forget The Heroes Bill, permanently re-authorizing the 9/11 Victims Compensation Fund which now supports firefighters, the first responders and survivors of the September 11 terrorist attacks.

Wolf’s long-standing Fix The Fund website now says “The fund is fixed” when you log in. According to Fox News over 51,000 victims have applied to the fund, and over $ 5.5 billion has been donated to those in pain.

On November 17, 2003, Wolf published a letter which he sent directly to Feinberg. After the pair initially clashed, a change of mind from Feinberg was greeted with open arms by his former opponent.

Wolf wrote: “For you this must be a rewarding time to have one of your sharpest critics keep a promise and not only join the program he was criticizing but promote it to his peers,” says long on you and how you’ve adjusted both the program and your attitude. Today I have complete confidence in you.

The dramatization of the events can be seen in the new film Value, streaming now on Netflix.

Stanley Tucci in Worth
Stanley Tucci as Charles Wolf in the movie “Worth”. It is available to watch on Netflix now
Netflix


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U.S. potato sales fell 10.5% in dollar value https://alg-a.com/u-s-potato-sales-fell-10-5-in-dollar-value/ https://alg-a.com/u-s-potato-sales-fell-10-5-in-dollar-value/#respond Tue, 10 Aug 2021 07:00:00 +0000 https://alg-a.com/u-s-potato-sales-fell-10-5-in-dollar-value/ From April to June 2021, sales of potatoes in the United States decreased in dollar value by 10.5% and in volume by 15.5% compared to the same period in 2020. However, when sales are compared to this same period in 2019, sales increased in value and volume. Consumers spent $ 317 million more on potatoes […]]]>

From April to June 2021, sales of potatoes in the United States decreased in dollar value by 10.5% and in volume by 15.5% compared to the same period in 2020. However, when sales are compared to this same period in 2019, sales increased in value and volume.

Consumers spent $ 317 million more on potatoes from April to June 2021 than in 2019 and bought 53 million pounds more potatoes, demonstrating that demand for potatoes is high in the markets. grocery stores.

The best-performing potato categories in 2020 posted the largest declines in 2021. Canned, dehydrated, fresh and frozen potatoes all fell double-digit in dollar and volume terms. In the fresh potato category, medley potatoes maintained positive growth while sales of other fresh types declined from 2020. Russian and white potatoes saw the largest percentage decline in dollars and in volume. Small potatoes were almost even in dollars with a decline of just 0.1% and a slight drop in volume of 1.7%. An increase in micro-steamer and tray packaging shows that consumers have increased their purchases of prepackaged products compared to the same period last year. Sales of fresh potatoes are slightly lower than 2019 levels in volume, but higher in dollars.

Click here to view the full report.

Source: patatesusa.com


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