Category Archives: finance and trade

BUSINESS: The Hardest Hit Companies of the COVID-19 Downturn are ‘BEACH’ Stocks

The ‘BEACH’ Stocks —booking, entertainment, airlines, cruises, and hotels 

The market’s latest storm has plunged the global travel industry into uncharted territory.

Since the S&P 500 market high on February 19, 2020, market capitalizations across BEACH industries—booking, entertainment, airlines, cruises, and hotels—have tumbled. The global airline industry alone has seen $157B wiped off valuations across 116 publicly traded airlines.

BEACH Stocks: $332B in Value Washed Away by March 24, 2020

Investor confidence in cruise lines has also dropped. Between Carnival, Royal Caribbean, and Norwegian Cruise Line Holdings, over half of their market value has evaporated—equal to at least $42B in combined market capitalization.          *All numbers as of market close on March 24, 2020

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VIDEO: 1929 Stock Market Crash and the Great Depression – BBC Documentary

1929 Stock Market Crash and the Great Depression – Documentary

Brief History of that other economic designed crash of 1929 BBC documentary

On October 29, 1929, Black Tuesday hit Wall Street as investors traded some 16 million shares on the New York Stock Exchange in a single day. Billions of dollars were lost, wiping out thousands of investors. In the aftermath of Black Tuesday, America and the rest of the industrialized world spiraled downward into the Great Depression (1929-39), the deepest and longest-lasting economic downturn in the history of the Western industrialized world up to that time.   Continue reading

VIDEO: The Truth Behind The Coronovirus Pandemic; Lockdown and Economic Crash – David Icke

DAVID ICKE – THE TRUTH BEHIND THE CORONAVIRUS PANDEMIC: COVID-19 LOCKDOWN & THE ECONOMIC CRASH

ECONOMICS: Will there be another Great Depression? – The Guardian UK

Government indecision amid the coronavirus crisis has fuelled fears of a long recession – unless there is a huge fiscal response
Unemployed men eat soup in Washington, circa 1935.
 Unemployed men eat soup in Washington, circa 1935. Photograph: Archive Photos/Getty Images

Such was the scale of the global market crash last week in the wake of the coronavirus outbreak, the spectre of the 1929 Wall Street rout and the ensuing Great Depression of the 1930s has been raised. Comparisons no longer seem fanciful.

The failure of the US and the UK to swing into action with a wide range of mitigation measures – despite the lessons of Italy’s slow response to the spread of Covid-19 – has heightened concerns that a sustained, epochal downturn lies in wait.          Continue reading

Coronavirus is grounding the world’s airlines – A hard landing – The Economist

 The aviation industry may not fully recover from the effects of the pandemic

Business – The Economist Magazine

IT IS NO surprise that the industry clobbered hardest by the covid-19 pandemic is the one responsible for helping spread it to the four corners of the Earth. But the speed and depth of the nosedive which airlines have taken is nevertheless breathtaking. In a memo to staff on March 13th, entitled “The Survival of British Airways”, the carrier’s boss, Alex Cruz, spoke of “a crisis of global proportions like no other we have known” (for more coverage of the pandemic, see our coronavirus hub). Most of the industry should pull through if the situation lasts one or two quarters. Any longer, and the future of air travel could be altered for good.      Continue reading

CARICOM Leaders End Summit in Barbados On Positive Note

CARICOM Leaders End Summit On Positive Note

CARICOM Chair and Barbados’ Prime Minister, Mia Amor Mottley, explains some of the outcomes of the 31st Inter-sessional CARICOM Meeting. Looking on is Dominica’s Prime Minister, Roosevelt Skerritt. Photo credit: C.Pitt/BGIS.

BRIDGETOWN, Barbados, February 20, 2020 (CMC) – Caribbean Community (CARICOM) Leaders have ended their two-day Inter-Sessional Summit, here, agreeing on a number of initiatives, ranging from holding a conference on crime in Trinidad and Tobago, to pushing forward the CARICOM Single Market and Economy (CSME) that allows for the free movement of people and goods, across the 15-member regional grouping.      Continue reading

TRAVEL – TOURISM: The coronavirus will hit the tourism and travel sector hard

Professor, Law and Economics of Tourism, University of Guelph

China’s tourism sector has been devastated by the latest coronavirus outbreak, but the impact is being felt around the world and in many industries

The spread of infectious diseases is invariably linked to travel. Today, tourism is a huge global business that accounts for 10.4 per cent of global Gross Domestic Product (GDP) and 10 per cent of global employment.

Nothing seems to slow its growth as year-over-year increases outpace the economy. The United Nations World Tourism Organization is predicting further growth of three per cent to four per cent in international tourist arrivals for 2020, with international departures worldwide particularly strong in the first quarter of this year.

But that was before a new coronavirus (formally known as 2019-nCoV) hit China and then very rapidly started spreading to the rest of the world with 20 countries and counting isolating cases.              Continue reading

US economy under Trump: Is it the greatest in history? – Reality Check – BBC News

Card with President Trump on the left and the quote "Our economy is the envy of the world. Perhaps the greatest economy in the history of our country."

Claim: President Trump often says the US economy is on an historic high, perhaps the greatest it’s ever been.

Speaking at his State of the Union address in February, he reinforced those claims by hailing his pro-growth policies which he says have helped Americans with jobs and wages.

Reality Check verdict: It’s true the economy has been doing well – but there have been periods when it was even stronger.

And the trade war with China, rising tensions in the Middle East and fears over the health of the global economy have unsettled markets at various points, and led the US central bank, the Federal Reserve, to lower interest rates.

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GUYANA: CMEI to build two branded hotels at Ogle – one is a Hilton

Stabroek News February 15, 2020
Mike Elliott

Mike Elliott -CMEI

A group of businessmen in the Caribbean Marketing Enterprise Inc (CMEI) are building two branded hotels on 20 acres of land at Ogle and a sod-turning ceremony will be held on Wednesday February 19, 2020.

The announcement today by government holding company NICIL, comes on the heels of last week’s sod-turning for the AC Marriott at Ogle to be financed by Trinidadian businessman John Aboud.

It is expected that one of the two hotels to be built by CMEI will be a Hilton-branded one.      Continue reading

Guyana: Oil: PPP gov’t would renegotiate deals for Kaieteur; Canje and other blocks – Jagdeo

PPP ‘s Bharrat Jagdeo

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