1) Alibaba Singles Day Could Bring in $24 Billion
UPDATE Nov 11, 2017: Alibaba Singles' Day Posts Record 168 Billion Yuan ($25.3 billion) in Sales | Bloomberg.com. Alibaba's Singles Day in China is the biggest shopping event of the year. Bloomberg.com's Tom Mackenzie reports in the video above on "Bloomberg Daybreak: Asia." See also Alibaba's Singles' Day, China's 24-hour online shopping binge, tops $1.5 billion in first three minutes--Reuters.com.
2) Your Next Bank: Amazon, Apple, Facebook, or Google?
- Set up Apple Pay Cash and person to person payments | Apple Support | apple.com: Learn about sending and receiving money with Apple Pay in Messages, and how you can use the money with Apple Pay Cash in stores, within apps, and on the web. See also Google Wallet, Android Pay, Amazon Cash, Facebook Messenger.
- Some U.S. banks oppose tech sector offering banking services--Reuters.com.
3) Investing
a. The Week--Possible tax reform delay in D.C. initiated a pause in the Trump Rally on Wall Street--for the week, the Dow fell 0.5% while the S&P 500 index and NASDAQ each lost 0.2%. The Dow and S&P 500 had risen for eight straight weeks, and the NASDAQ for six straight weeks. All three indexes are still hovering near record levels.
b. Investing Notes:
- Jeremy Grantham Predicted Two Previous Bubbles. And Now? | WSJ.com: "He thinks U.S. stocks and bonds will fail to generate inflation-beating returns over the next seven years, but he doesn’t see an imminent crash in share prices."
- InvestorPlace.com: Why Investors Should Stay Cautious on Alibaba Group Holding Ltd $BABA: "Alibaba still is the largest capitalist business in what remains a controlled, nominally Communist economy ... Meanwhile, competition is on the way. Second-place JD.Com Inc (ADR) (NASDAQ:JD) steadily is taking market share ... Amazon reportedly has ceded the Chinese market to Alibaba, but it also will stand in the way of any expansion beyond China ..."
- China widens foreign access to its giant financial sector: The move was announced Friday by vice finance minister Zhu Guangyao, a day after U.S. President Donald Trump reiterated calls for better access to Chinese markets in meetings this week with Chinese President Xi Jinping--Reuters.com.
- Housing "Investment" & Tax Reform: "Many Americans think that a home is a good investment, but the numbers don’t support it."--Bloomberg.com.
- The Broadcom (NASDAQ: AVGO), Qualcomm and NXP Deal--SeekingAlpha.com.
- Why an ailing eurozone still requires extreme treatment | FT.com: "... These extreme [ECB] policies are needed because the eurozone economy is in such bad shape. It is getting better for sure, but we are looking at a decade-long recovery. It is thus meaningless to compare the relatively high current growth rates in the eurozone to that of the UK or the US. Neither experienced an economic shock on the scale of the eurozone’s ... There is another, unspoken reason, why the ECB continues to buy assets — if it were to stop, the eurozone crisis might return ... the ECB may never be able to stop them." See also Financial Storm Clouds Gather Over Italy | WolfStreet.com.
- Don't Forget Dick Fuld's Record at Lehman | Bloomberg.com: "It was a giant accounting shell game. Lehman was actually insolvent long before it declared bankruptcy. It is quite astonishing that no one from Lehman faced any consequences for this egregious accounting impropriety."
4) ICYMI Tech News:
- The Web began dying in 2014, here's how | staltz.com.
- Apple: A planned $1 billion Apple data center in Ireland is in doubt after Irish Prime Minister Leo Varadkar said Apple CEO Tim Cook "would no longer commit to it"--Reuters.com.
- Amazon seeks staff in European insurance push--Reuters.com
- Uber, rival apps join forces in Brazil to stem tide of regulation--Reuters.com. See also: Uber loses UK appeal bid to overturn workers' rights decision | Reuters.com.
- Google Chrome security feature will soon prevent malicious auto-redirects--9to5Google.com.
- EU's Vestager seeking details on Apple's recent tax set-up--Reuters.com.
- Reuters.com: Former Yahoo CEO Marissa Mayer apologizes for data breaches, blames Russians [Editor's note: that's an excuse that ALWAYS works in D.C. these days].
- Why Google and Facebook folded on sex-trafficking bill | Axios.com: "the first major legislative defeat for tech giants Google and Facebook."
- Attorney to ex-Twitter worker who deactivated Trump account: 'Get a lawyer' | TheHill.com: a reasonable chance the Twitter worker violated the Computer Fraud and Abuse Act.
- Netflix vs Disney? Fox in the Mouse House could give Disney an edge in streaming wars--Reuters.com.
Note: Original post title "Tech Review | Alibaba $BABA Singles Day Could Bring in $24 Billion (video)."
-- John Poole, Editor, Domain Mondo
-- John Poole, Editor, Domain Mondo
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