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[ad_1] Ever since COVID-19 hit, the central bank’s message has been clear —the focus is on reviving growth first and foremost. [ad_2] Source link

[ad_1] The post NIO Shares Climb on Strong July Deliveries appeared first on Millennial Money. The Chinese electric vehicle (EV) market continues to rapidly expand, driving triple-digit delivery growth for NIO (NYSE: NIO) last month. The company provided its monthly update for deliveries this morning, registering 125% year-over-year growth. However, there were some drawbacks investors should be aware of, despite the robust figures. NIO shares climbed as much as 5% today and were up 4% in late afternoon trading.  A “modest sequential decline” NIO delivered 7,931 vehicles in July, up 125% from a year ago. Here’s a breakdown of which models the company sold during the month. The ES8 is NIO’s flagship SUV, while the ES6 is a more affordable SUV. The EC6 is a smaller sport coupe that resembles a compact SUV. Total cumulative vehicle deliveries have now hit 125,528. Model Deliveries ES8 1,702 ES6 3,669 EC6 2,560 Total 7,931 Data source: NIO Deliveries dipped mostly on a sequential basis compared with the 8,083 cars that NIO delivered in June. The global auto industry continues to suffer from widespread semiconductor shortages that have hindered production, creating bottlenecks that have made it difficult for many automakers to meet demand. It’s unclear if chip constraints contributed to the sequential decline, but local media reports suggested that recent floods in Germany impacted the availability of shock absorbers that NIO uses in its air suspensions.  “Despite the modest sequential decline in total deliveries, we expect this mainly reflects the high base in June, which was boosted by orders carried over from May, when NIO suffered from more serious supply hiccups,” Morgan Stanley analysts wrote in a research note to investors. Competition is intensifying Additionally, this was the first time that NIO’s monthly deliveries lagged behind its two primary peers. Rival Chinese EV players XPeng (NYSE: XPEV) and Li Auto (NASDAQ: LI) also reported monthly deliveries over the weekend. XPeng delivered 8,040 EVs in July and Li Auto sold 8,569. While NIO investors may not like to see the company slip from its leadership position, the overall market for EVs in China is still growing so rapidly that all companies can still benefit. It’s also likely that EV leader Tesla (NASDAQ: TSLA) took a bite out of NIO’s sales by releasing a lower-cost version of its Model Y compact SUV in China last month. After discontinuing the Standard Range Model Y in the U.S. earlier this year, Tesla introduced that variant in China since the lower price tag qualifies for a government subsidy. Because NIO’s lineup is concentrated in SUVs and has historically been the volume leader among the three top Chinese EV companies, Tesla’s move to undercut may have impacted NIO more than its peers. XPeng sells a sedan and an SUV, while Li Auto only offers an SUV. NIO is set to report second-quarter results on Aug. 11. The post NIO Shares Climb on Strong July Deliveries appeared first on Millennial Money. [ad_2] Source link

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[ad_1] Appraisal plans were also impacted as 70% of employees said that they did not receive any promotion or pay increase in the June quarter, with only 11% of employers promoting or offering salary increases. [ad_2] Source link

[ad_1] Alanna Strei of eXp Realty in San Diego and Cornerstone Communities’ new San Diego townhouses Real estate agent Alanna Strei’s client wanted to check out “Tesoro Vista Del Sur,” 134 newly built townhouses in the Ocean View Hills area of San Diego. The three-story abodes were part of an array of newly built properties that homebuilders are creating across Southern California.  So Strei, an agent affiliated with eXp who specializes in relocating military personnel, and her potential homebuyer strode into the sales office of Cornerstone Communities, the site’s San Diego-based builder. “The first thing they said to me was, ‘I’m not paying you,’” Strei said of Cornerstone, who did not return numerous messages left by HousingWire. “They were so rude and off-putting.” Increasingly, homebuilders like Cornerstone are either not paying real estate agents like Strei a commission or offering a sharply reduced one, according to agents, homebuilder industry insiders and builders themselves. The reason is simple: demand is through the roof.  “Do you need an agent when you have 10 buyers for every home?” said Tim Costello, CEO of Bdx Inc. a consortium of 32 different homebuilders.  Agents don’t want to hear that. At the very least, they want to believe that homebuilders will need them again, eventually.  “They are burning their bridges,” said Abigail Jennings of Lake Norman Realty in Cornelius, North Carolina. “And this is not going to end well.” This content is exclusively for HW+ members. Start an HW+ Membership now for less than $1 a day. Your HW+ Membership includes: Unlimited access to HW+ articles and analysis Exclusive access to the HW+ Slack community and virtual events HousingWire Magazine delivered to your home or office Become a member today Already a member? log in The post Are homebuilders burning bridges with real estate agents? appeared first on HousingWire. [ad_2] Source link

[ad_1] The post Square Stock Pops on Afterpay Acquisition appeared first on Millennial Money. Over the weekend, mobile payment company Square (NYSE: SQ) announced that it will acquire Afterpay (OTC: AFTPY) in an all-stock deal that will create a multinational fintech juggernaut. In merging with Australia-based Afterpay, Square aims to expand into the booming “buy now, pay later” (BNPL) industry while offering additional financial services products to consumers and merchants. The deal values Afterpay at $29 billion. Investors cheered the news, sending Square stock up 13% as of Monday afternoon trading. American Depository Receipts (ADRs) for Afterpay, which trade over the counter in the U.S., jumped 38%. Square also reported second-quarter earnings yesterday, which were mixed relative to expectations. Combining two complementary fintech companies Afterpay is a BNPL pioneer that has been enjoying steady growth, with a booming base of consumers and merchants alike. As of June, Afterpay had 16.2 million active consumers and 98,000 active merchants on its BNPL platform. Its gross merchant volume has quadrupled over the past two years, to $15.8 billion, with revenue posting a 92% compound annual growth rate over that same time to reach $693 million.  “We built our business to make the financial system more fair, accessible, and inclusive, and Afterpay has built a trusted brand aligned with those principles,” Square CEO Jack Dorsey said in a release. “Together, we can better connect our Cash App and Seller ecosystems to deliver even more compelling products and services for merchants and consumers, putting the power back in their hands.” Square’s vision is to integrate Afterpay into its Seller platform as well as its Cash App, strengthening the link between them. A merchant will be able to offer interest-free financing through the Seller app, while consumers can manage their installment plans directly in the Cash App.  How the deal is structured Square expects the acquisition to contribute to gross profit in the first year after the transaction closes (set for the first quarter of 2022), before including synergies. Square did not specify how much it estimates revenue synergies will be but said the combined company can pursue many additional cross-selling opportunities. Adjusted EBITDA margins may decline modestly as Square invests in integrating the platforms to prepare for long-term profitability. Afterpay shareholders will receive 0.375 shares of Square for each share of Afterpay that they hold. As an all-stock deal, Afterpay shares will likely continue to fluctuate in lock step with Square stock until the deal closes. Afterpay’s co-founders and co-CEOs Anthony Eisen and Nick Molnar will join Square once the deal is finalized, and an Afterpay director will join Square’s board. Pick Like A Pro Where to invest $500 right now Before you buy Amazon, or Netflix, or Apple, consider this… The team at Motley Fool first recommended each of those stocks more than a dozen years ago! They discovered Netflix for $1.85 per share, back in the days of DVDs by mail. And recommended Amazon at $15.31 in 2002, before most people were comfortable using credit cards online. And even hit Apple at $4.97 per share, about a month before the release of the very first iPhone. Check out where those stocks are today. The bottom line: a $500 investment in all three of these stocks would be worth more than $200,000 today! And here’s why that’s important: The Motley Fool’s flagship investing service Stock Advisor just announced their top 10 “best buys now” across the entire stock market. Whether you’re starting with $100, $500, or more, you’ll want to get the full details! Click here to learn more The post Square Stock Pops on Afterpay Acquisition appeared first on Millennial Money. [ad_2] Source link

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[ad_1] Some U.S. states turn to vaccine mandates for key workers as COVID cases rise [ad_2] Source link

[ad_1] Google has announced its own system-on-chip, Tensor and confirmed the SoC will debut later this year inside the Pixel 6 and Pixel 6 Pro. [ad_2] Source link