![]() Second, in places like India and much of Latin America, new cases remain high, spurring precautionary behaviour even where lockdown restrictions have eased. First, exports will remain weak as the developed world economies shift into slower gear. For them, after an initial burst of growth, all the signs point to a slower pace of recovery, say Capital Economics researchers. China’s domestic rebound is not rubbing off so much on its emerging market peers. The rapprochement may indicate that it’s even harder for Chinese companies to raise capital in the United States. Still, Covid-19 market jitters and tensions between London and Beijing over Hong Kong mean it’s an achievement to get the deal away at all. That said, after pricing at the bottom of the range, the final amount is well below the maximum $3.4 billion the company initially hoped to raise. Global funds get exposure to a sector that gains from President Xi Jinping’s banishing of carbon emissions by 2060. The $61 billion issuer gets capital at a small discount to its Shanghai-listed shares without having to negotiate Chinese capital controls. Hydroelectric group China Yangtze Power secured $2 billion in global depositary receipts via a secondary listing. The troubled initiative, launched in 2015 to forge trading ties between the UK and China, has recorded its third offering in the British capital. ![]() The Shanghai-London Stock Connect pipeline is back. Still, any sales would have to pass by Lagardere himself, who controls the business via an archaic legal structure. And Bolloré could take publishing arm Hachette. But Arnault, who already owns a stake in Lagardere’s holding company, might be interested in those plus the company’s media assets, which include influential business newspaper Le Journal du Dimanche. True, loss-making Lagardere’s main profit generator – its omnipresent French travel retail kiosks – has been whacked by the pandemic. Investors appear to be hoping for a lucrative kiss-and-break-up. ![]() This potentially pits him against activist shareholders Amber Capital and Vivendi-owner Vincent Bolloré, who are agitating for board seats. On Friday, shares in the Paris Match publisher rose by 26% after LVMH owner Bernard Arnault – a longstanding pal of eponymous Lagardere boss Arnaud – revealed a stake of over 5%. Media conglomerate Lagardere is becoming an increasingly crowded house. As this is just over 10% of its 2020 pre-tax profit, it looks like a cheap way to tick the ESG box. Boohoo reckons the cost of implementing the changes shouldn’t exceed the 10 million pounds it previously earmarked. Investors feared the Manchester-based online retailer would have to implement a series of costly reforms that could have forced it to source stock from international suppliers in Cambodia or Turkey. Media reports alleged in July that Boohoo suppliers were failing to pay staff in Leicester the minimum wage or keep them safe from the spread of Covid-19. Shares in the 4.5 billion pound retailer soared nearly 20% on Friday even though an independent audit into its treatment of workers found “many failings” in its supply chain. Boohoo’s supply chain cleanup is as cheap as its throwaway skirts and shoes. These costs may stick for the rest of the pandemic – and when they disappear, the question will be whether extra shoppers do too. Paying workers a bonus of $2 an hour to compensate for Covid risk adds up. That pushed gross margins up and sent earnings per share 27% higher.īut the market expects earnings growth in bulk from Costco – it trades at 36 times estimated earnings over the next 12 months, or twice peers, according to Refinitiv. The pandemic has mostly been good for the retailer, as penny-pinching consumers, hoarding, and eating more at home increased revenue about 12%. The $150 billion grocer, where members can stock up on bulk bargains such as 13.5-pound bags of baking soda or 30 lobster tails, said Friday it spent $281 million on coronavirus-related costs during the quarter ending Aug. Costco Wholesale is finding the pandemic is more expensive than expected. One global effect of Covid-19 is clear: Respondents everywhere think they will work less in the office and more at home in the future. Elsewhere, Shanghai pipped Tokyo to third place, with Beijing and Shenzhen, China also in the top 10. That may say more about some European centers’ reduced appeal than the City’s enduring allure – and it could change next year. London even closed the gap with the Big Apple, despite the fact that its financiers will lose full access to the EU on Dec.
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![]() ![]() Even in the best of times, users are not compensated for the value they contribute to the platforms they use (e.g., Facebook makes billions off of people posting content for free and clicking on ads, but Facebook users don't get compensated for their contribution).This also works in reverse: Users can lose their data, relationship, and digital assets overnight when a platform like Twitter, Facebook, or YouTube decides to shut down their account and.Users cannot easily leave a platform they don't like (because all their data, relationships, and digital assets are not "portable").In our current era (web2 or Web 2.0), a handful of giant companies own most of the data and govern most communication and transactions. "Web3" is used to describe a new approach to how the internet should run. Web3 in a Nutshell (skip if you already know) ![]() But before we get to his point, let's clarify what we (and Moxie) mean by "web3". Moxie shared his "first impressions of web3" in a blog post. Last week, the Financial Times recently quoted me in a takedown of a shoddy ad starring Matt Damon, and The Guardian ran a piece on why NFTs of bored apes are actually worthless.Ī more substantial contribution to the debate about the future of the internet came from Moxie Marlinspike, founder of Signal, a private messaging app. In 2022, the world's brightest minds are arguing about digital tokens, JPEGs of monkeys, and SuperBowl ads. Our current dilemmas seem farcical in light of historical tragedies. But when it does, it matters a lot.Ī recent discussion on the promises and limitations of crypto/Web3 made me think of those Hungarian sausages. And after running around the streets of Napoli for a few days in search of generous customers, my father and uncle threw the sausages away and boarded a boat to Israel.īeing able to pack up your stuff and leave is not something that matters to most people most of the time. They heard a rumor that Italians pay generously for such rare delicacies. To kickstart the family's fortunes in the new world, my father and uncle took a few Hungarian sausages with them. Everything else - property, appliances, jewelry, books, even photos - had to stay in Romania. They were only allowed to take their clothes, bed linen, and food for the trip. In 1962, my grandmother, father, and uncle managed to get their exit visas and boarded a plane to Rome. The price of exit could go up to $50,000, depending on the migrant’s age, education, profession, family status, and political importance." Soon Romanian Jews were traded for everything from cattle and pigs to chicken farms and cornflake factories. At Khrushchev’s insistence, the Romanians began to demand agricultural products instead of cash. When Israeli intelligence officials got wind of the deals, they decided to get in on the scheme, with the approval of Prime Minister David Ben-Gurion. Jacober traded briefcases full of cash, typically $4,000 to $6,000 per emigrant (depending on the individual’s age and educational status), for exit permits to the West. A Jewish businessman in London named Henry Jacober served as the middleman between private individuals in the West and the Romanian secret service. As Zahra Tara recounts in The Great Departure: "The exchange of Romanian Jews for money and agricultural products had begun covertly after the Second World War. Someone had to buy her.įrom 1945 onwards, Romania collected more than $100 million in cash and other commodities in exchange for Jews. After surviving Auschwitz, she wanted to give her children something better than Communism and anti-semitism. Some people loved living in the Socialist Republic of Romania. ![]() He was talking about my grandmother, my father, and my uncle. "Jews, Germans, and oil are our best export commodities," the dictator Nicolae Ceaușescu boasted in the 1970s. It's not fully developed, but it captures something important about the time we live in - and where we're headed. It might be the most profound thing I've written all year. If you haven't read it yet, check it out and read carefully. □ In Praise of Ponzis was quoted in the Financial Times, in Matt Levine's Bloomberg column, in the Wall Street Journal's Chris Mims' tweet, in Morgan Housel & Michael Batnick's podcast, in Scott Alexander's newsletter, and beyond. Join us for a fun and impartial exploration of crypto's good, bad, ugly, and hilarious - and access to a growing community of alumni across the globe. □ The February cohort of Hype-Free Crypto is filling up. □ Looking for a Corporate Crypto Course? Give your team a hands-on introduction to Blockchains, Decentralized Finance, and Web3 with our private corporate cohorts. ![]() These pieces evoke a naturalness you won’t see in other jewelry companies so that you can be naturally you. You’ll definitely want to spend some time looking through everything Kona Blue and Garuda have to offer. With swirls, swoops, clouds, flowers, waves, wings, and tails, you’ll know the stories of the island and the people making the jewelry. ![]() Many of the carvings also reflect the spirituality of the earth’s beauties. Most sets hold femininity and masculinity so that you can explore yourself without restraint and lean into your expression at will. There’s a natural androgyny about these pieces that allow anyone wearing them a sense of freedom to define who they are. Feminine carvings highlight delicacy and orange beauty, while other masculine shapes and structures demonstrate the raw strength of the material. This natural jewelry encompasses a vast spectrum of energy and self-expression. Elaborately carved wings and danglers speak to the perfection and acknowledgment of technique honed over time. Hoops and spirals speak to a classic, almost sacred shape passed on through generations. Various sizes mean that anyone can find something to love, no matter where you’re at in their journey of self-expression. Ranging from simple hoops to ornately carved dangling jewelry, there’s an entire spectrum of style and something meant for everyone. Each style emits beauty and simplicity reflecting the histories of the hands that designed them. Well worth the wait, with so many options and so many materials, it’s hard not to get overwhelmed. Kona Blue and Garuda have partnered, bringing the best all- natural Hawaiian jewelry available to humankind. ![]() Necklaces, chains and cords :|: SIZE CHART AND GUIDE : lengths for men, women or children Gauged Jewelry and Organic Jewelry by size.Horn Body Jewelry and black gauge earringsĮarrings for Sensitive Ears and Hypoallerganic Earringsīracelet Sizes | Anklet sizes | chart and length GARUDA & Kona Blue :|: Hawaiian Natural Jewelry:|: ![]() In real life, a "Glock switch" could be attached to any Glock pistol, however it was most likely restricted to the G50 for balancing reasons.However, it was changed to be exclusive for the G50 in the test place update TBA. This attachment was available for all G-Series pistols back when it was in the test place.Harder to control because of its fast firerate.Grants Machine Pistol-like characteristics, including higher gun and camera recoil.No base damage reduction Keeps STK at close range.However, due to the great increase in recoil and restriction to full auto, it is not advised to use it at longer ranges. The G-Switch is a good attachment on the G50 for those who want to focus on close-range encounters, such as a backup for a Sniper or DMR. Tap-firing at longer ranges is difficult, as using this gives the G50 very high per-shot recoil. Its high ROF makes it imperative to tap-fire in order to minimize ammo loss. The G50 does not have loweref base damage when doing this, meaning that if one uses Hollow Points alongside this, they would have a 2SK at close range Machine Pistol.ĭue to the reduced reserve and increased recoil, this should really only be used at close range. A recoil-reducing attachment such as a Muzzle Brake and a lower magnification optic or a replacement Optic such as the Mini Sight or Half Ring Sight is preferred to minimize the amount of visible recoil, as the G Switch does give the pistol Machine Pistol like characteristics when equipped. However, when doing this the pistol is restricted to Automatic, meaning that for long-range encounters it could be harder to control. Weapon is converted from semi to full autoĪttaching this to the G50 converts it into a Machine Pistol, giving it an increased RoF and converting it to full auto.This greatly effects usability due to the increased RoF, meaning that one could find themselves running out of ammo frequently. The reserve ammo is cut in half, from 48 to 24. However, this mainly affects its Aim Down Sight (ADS) accuracy. It also greatly affects accuracy by reducing recoil recovery speed, increasing its firerate, kick and displacement. The G-Switch reduces the G50's headshot multiplier from 2.00x to 1.40x, which arguably makes it slightly less viable to aim for headshots in Close Quarters Combat (CQC), in spite of still being a solid strategy. However, it is illegal to own one without registering your firearm as a machinegun, therefore making it illegal to own in most parts of the United States. 50 GI aftermarket-conversion, to operate in fully-automatic mode. ![]() However, there are third-party accessories that are applied to the back of the slide that allow any Glock, including the Glock 20's. As of the time of writing, Glock currently only offers one fully-automatic pistol, the Glock 18, and Glock does not make any accessories to convert any pistol to full auto. |