(Bloomberg) — Asian stocks climbed in a volatile start to a crucial week spanning the U.S. election and a Federal Reserve policy meeting, events that could set the tone for financial markets for the rest of the year. Oil tumbled to a five-month low.S&P 500 futures nudged up after erasing an earlier decline. The dollar ticked higher with Treasuries. Japan stocks outperformed. The moves at the beginning of November come after global equities posted two months of losses.Concern that economic growth will be hampered by further lockdown measures in Europe dragged crude prices and commodity currencies lower. The pound slipped as increased restrictions in England aimed at controlling the coronavirus overshadowed signs of progress on Brexit trade talks.The main event this week will be Tuesday’s U.S. election, with Democratic nominee Joe Biden leading President Donald Trump in polls. Virus developments are also front and center with the recent surge in … Read the rest...
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If you ask pollsters, they’ll tell you President Donald Trump’s path to reelection is both narrow and unlikely. As of Sunday, FiveThirtyEight gives Democratic nominee Biden a 89% chance of winning—compared to the 71% odds it gave Hillary Clinton in 2016.
The President does have a path if he can pull off upsets in a handful of states Biden is the favorite in, according to FiveThirtyEight. That includes Georgia (58%), Florida (64%), North Carolina (66%), Arizona (70%), and Pennsylvania (85%). Trump would also need to win everywhere he’s currently leading.
The hardest upset to pull off is Pennsylvania, where Trump only has a 15% chance of winning. The odds of that are as likely as Biden pulling off upsets in several deep red states. Biden’s … Read the rest...
One of the biggest challenges of running an online business is keeping up with privacy and data protection laws. A lot of businesses operate online and collect a wide variety of customers’ data. They use it to process orders and transactions, contact customers, and market their products and services.
These days people are becoming more aware of potential risks tied to revealing their data online. Therefore, companies are struggling to build trust and ensure security for their customers. The implementation of laws such as GDPR and CCPA shows that customer data security has become one of the top priorities for online businesses.
Cybersecurity Statistics: What’s the Risk?
Some of the most important transactions are taking place online. Thus, it has become difficult to avoid the risk of identity and data theft. Each online payment gateway, newsletter signup, or contact form on a random site can lead to serious security concerns. … Read the rest...
PARIS — Some small shops and services, including a dog grooming salon, remained open on Saturday in a small town outside Paris with support from their local mayor, amid signs of sporadic pushback against a new coronavirus lockdown in France.
In Paris, mayor Anne Hidalgo also joined a growing wave of support for independent booksellers, saying in an interview published on Sunday that she would bring in local authorizations for them to remain open.
The French government put in place fresh restrictions on Friday to combat a resurgence in COVID-19 infections and hospitalizations, echoing a two-month shutdown earlier this year. This time, schools will remain open but all non-essential stores are supposed to close.
In the small town of Yerres, shops such as shoe-sellers remained open under a local edict.
“I think you’re taking much less risk going to buy your book or your shoes or your clothes in a … Read the rest...
The 2020 U.S. election is taking place on Nov. 3 with President Donald Trump and former VIce President Joe Biden battling for the lead position.Gold Price Analysis: The U.S. presidential election will play a huge role in shaping the global economy and gold prices are expected to react in the run up to the election day. So how important is it for the safe haven asset gold if Biden or Trump makes it to the White House?"There is no doubt that we are likely to see increased volatility in stock markets in the run up to the election day and investors seeking traditional safe havens such as gold, particularly if the race between the two candidates gets very close and there is a growing risk of a contested outcome," writes Saida Litosh, manager of precious metals analysis at Refinitiv.Biden or Trump Impact: If the past is any indication, a second … Read the rest...
On Election Day, voters in five states will decide ballot initiatives that would legalize cannabis use either recreationally (Arizona, Montana, New Jersey, and South Dakota) or medicinally (South Dakota and Mississippi). Meanwhile, those in Louisiana, Maryland, and South Dakota will vote on initiatives that would legalize sports betting, to varying degrees, in their own states.
The ballot measures speak partly to changing public attitudes toward both marijuana use and gambling, activities that remain criminalized in large swaths of the country. Yet, both have been gradually accepted in jurisdictions across the U.S. Despite the continued federal prohibition of cannabis, recreational adult use of marijuana is now legal in 11 states plus the District of Columbia, while the Supreme Court’s decision to reverse a federal ban on sports betting in 2018 has seen the practice now allowed in 22 states plus D.C.
If those numbers were already expected to swell in the … Read the rest...
Filipinos are expected to spend more next year especially on recreation amid government stimulus measures for sectors badly hit by the coronavirus pandemic, and as more people return to work, according to Fitch Ratings.
Household spending will probably grow by 5.7% in 2021 after shrinking by 8% by year-end, the global research firm said in a report on Friday.
Household spending on recreation and culture is expected to grow by 15.3% next year — the fastest among all sectors — after shrinking by 17.8% this year, Fitch analysts said.
Filipino spending on furniture and homes is also expected to increase by 13.7% after contracting by 15.2% this year, while spending on hotels and restaurants will probably grow by 10.5% after shrinking by 16.8% this year, Fitch said.
Spending on alcoholic drinks and tobacco is expected to rise by 10.4% from a contraction of 16.7% by year-end.
Spending on clothing and … Read the rest...
The rise in consumer prices is expected to fall within 1.9% to 2.7% this month as lower fuel prices and water rates temper rising electricity costs, according to the Philippine central bank.
Inflation would probably settle at 2.3%, the same rate as in September, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno told reporters in a Viber group message on Friday.
Inflation eased for the second straight month in September due to a slower increase in food prices. This brought the nine-month average to 2.5%, which was within the central bank’s 2-4% target for the year.
“Higher electricity rates in Meralco-serviced areas, increases in LPG and kerosene prices and the impact of weather disturbances on selected food items contributed to upward price pressures for the month,” Mr. Diokno said.
These could be partly offset by lower prices of gasoline, diesel and rice, as well as lower water rates for … Read the rest...
It is easy to say you want to be an entrepreneur. However, it’s another thing entirely to actually become one. You need to be prepared to work harder than you have ever in your life. It will require commitment from you, and a whole other array of skills you may not have even considered. What skills do you need to become a successful entrepreneur?
One of the main things you will need to succeed is determination. There will be a whole world of elements thrown at you during your business venture, and you need to be prepared to tackle each and every one. James Kinsella co-founded instantprint, a printing company that looks to help start-ups through marketing materials such as brochures or books. He advised, “It’s an emotional roller coaster. If you compare working for someone else versus working for yourself, the highs when you’re doing really well are … Read the rest...
As Brexit looms, Amazon is starting the process of separating UK and EU sales from 14 November and UK shoppers buying gifts from EU sites and British traders selling to Europe face potential increased costs and confusion.
The international e-commerce giant Amazon has hastened its Brexit bail-out by confirming that traders will no longer be able to remove stock across the EU and UK border from 14 November.
Amazon has just announced record sales figures for its third quarter, with profits tripling. Its net sales increased by 37% to $96.1bn (£74.4bn) in the third quarter but its shipping costs rose by $1.4 billion and are now $5 billion higher than the same period a year earlier.
To keep rising costs in check, it is taking early action to limit the impact of Brexit on its operations by ending ‘inventory removal orders’ from its Fulfilment Centres for stock that is being … Read the rest...