David Fuller and Eoin Treacy's Comment of the Day
Category - General

    McDonald's, Amazon Accelerate Push Toward Higher Minimum Wage

    This article for Bloomberg may be of interest to subscribers. Here is a section:

    McDonald’s Corp. announced Thursday it will raise hourly wages by about 10%, bringing the average wage at its restaurants to more than $13 an hour. Chipotle Mexican Grill Inc. said earlier this week it will set hourly starting wages at $11 to $18. Target Corp. and Costco Wholesale Corp. have increased theirs to $15 and $16, respectively.

    McDonald’s is hiring 10,000 new employees at its company-owned stores over the next three months alone, and Walmart Inc. brought half a million people on board last year. Chipotle is hiring 20,000 workers across the U.S., and Target needs workers for the 30 to 40 stores it will open this year.

    Amazon.com Inc. also upped the labor market ante Thursday by announcing plans to hire 75,000 people in the U.S. and Canada at starting pay that will average more than $17 an hour. New employees will get hiring bonuses of $1,000 and those fully vaccinated for Covid-19 will get additional $100.

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    Email of the day on investment trust resources from Jonathan Davis

    Knowing the interest that some of your subscribers have in investment trusts, they might be interested to know that in addition to publishing the Investment Trusts handbook each year (this year's out in December will be the fifth edition), I have been hosting a regular weekly podcast devoted to keeping up with all the news from the investment trust sector which has proved pretty popular - we are now up to 1400 listeners a week. I do it with Simon Elliott, one of the best and certainly the most articulate of the investment trust analysts in London. He is the head of investment trust research at Winterflood Securities. Oh and it is free of course!

    More info at www.money-makers.co, where I also offer a modestly priced newsletter with a couple of model portfolios I report on that roughly mirror my own investing.

    Hope all is well in your empire. Not sure how you fit it all in....!

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    Email of the day on copycat crypto offerings

    Excuse my ignorance but is Dogecoin the same animal as Shiba Inu crypto? Shiba is a breed of Japanese dog ("inu") but frankly, I'm more than a bit confused (despite Eoin's clear and enlightening description of the phenomenon) by the entire cryptocurrency story. To me it smells of...tulips.

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    Bitcoin Falls Below $50,000 as Musk Calls Energy Use 'Insane'

    This article from Bloomberg may be of interest to subscribers. Here is a section:

    “Surely he would have done his diligence prior to accepting Bitcoin?” said Nic Carter, founding partner at Castle Island Ventures, and a leading voice among defenders of Bitcoin’s energy use. “Very odd and confusing to see this quick reversal.”

    Musk’s decision in February to buy $1.5 billion in Bitcoin and plan to accept it as a form of payment has been a major catalyst in the crypto bull market. In the eyes of analysts, it helped add legitimacy to the token and usher in new investors.

    Musk’s crypto tweets have often been in jest, and his attention toward Dogecoin brought the joke token into the mainstream. He’s quipped about being the “Dogefather” in the past, and tweeted on Tuesday, “Do you want Tesla to accept Doge?”

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    Email of the day - on China's growth potential

    That some manufacturing will move to other parts of Asia makes sense (especially as Chinese labour costs rise)

    But the comparison some make with Japan needs to take account of the facts that:

    a) Even now only 60% of the Chinese population is urbanised (93% for Japan)

    b) Output per capita must still be much lower than advanced countries so they can also catch up in that? Most developing countries have the constraint that they don't have the capital to invest for that but lack of capital is not China's constraint.

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    Over 700 Barges Stuck in Mississippi River From Bridge Crack

    This article for Bloomberg may be of interest to subscribers. Here is a section:

    “The river is the jugular for the export market in the Midwest for both corn and beans,” said Colin Hulse, a senior risk management consultant at StoneX in Kansas City. “The length of the blockage is important. If they cannot quickly get movement, then it is a big deal. If it slows or restricts movement for a longer period it can be a big deal as well.”

    The New Orleans Port Region moved 47% of waterborne agricultural exports in 2017, according to the U.S. Department of Agriculture. The majority of these exports were bulk grains and bulk grain products, such as corn, soybeans, animal feed and rice. The region also supports a significant amount of edible oil exports, such as soybean and corn oils and even attracted 13% of U.S. waterborne frozen poultry exports in 2017.

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