Walmart Inc. has taken a major step in its plan to create a more efficient delivery network to challenge Amazon.com, Inc. Walmart now has a position in Cruise LLC, an autonomous-vehicle company. Cruise’s majority shareholder is General Motors Co. Walmart will be begin testing grocery deliveries in Scottsdale, Arizona, this year.
Large e-commerce companies are looking to control the entire sales ecosystem, meaning from warehouse to customers’ doorsteps. Walmart expects fewer customers will visit its physical locations in the future.
U.S. inflation rate rises to 2.6% in March: Consumer prices rise more than expected, pushed by 9.1% jump in gasoline
U.S. retail sales jump 9.8% in March: Rebound in U.S. economy gathers steam with surge in retail sales
China posts strong year-over-year growth: China’s economy grows by a record 18.3% in the first quarter
ESG investing requires the human touch: Goldman Sachs says humans beat algorithms when it comes to ESG
Has the earnings boom arrived?: The earnings boom is here
Reasons for hope
Pfizer increases vaccine shipments to the European Union in Q2: Pfizer boosts second-quarter EU vaccine supply by 50 million
J&J vaccine pause not slowing down the U.S. vaccine rollout program: U.S. vaccination pace picks up as officials say Johnson & Johnson pause won’t slow rollout
People preparing for a better post-pandemic future: People are optimistic the end of the pandemic is near – and they’ve laid the groundwork for a better future
Adapting your business
Get your business ready for the coming rush of customers: How to scale your team for the impending customer surge
How to be “politely persistent”: 10 ways to be politely persistent
Crafting a great client e-newsletter (featuring Richard Heft): You’ve got mail
It may be time for a recharge: Pattie Lovett-Reid: WFH fatigue grows as pandemic enters year two
Protecting retirees’ portfolios from inflation: How financial advisors are protecting retirees from inflation
Chart of the week: Coinbase arrives … to mixed reviews
Coinbase Global Inc. went public on April 14, and it didn’t take long for the company’s market capitalization reach US$100 billion as investors rushed into the stock … before quickly pulling back. It was reported ARK Investment Management purchased almost US$250 million worth of the company’s stock on the first day for some of its funds.
Coinbase provides a platform for investors to buy, sell and store digital assets, and is an extremely popular cryptocurrency exchange in the U.S. Coinbase earned a revenue of US$1.3 billion in 2020, with Bloomberg estimating that its revenue will grow to US$4.7 billion in 2021. Could this listing give cryptocurrencies even more legitimacy in the investing universe? Let us know what you think.
Used with permission of Bloomberg Finance L.P.
News and notes (U.S.)
Putting the SRI into macro hedge funds: How macro hedge funds can do more to embrace SRI
Ellie Rubenstein building her own PE firm focused on responsible food companies: Carlyle family dealmakers stake out new ground with food portfolio
The SEC is paying close attention to SPACs: Regulators ramp up scrutiny of SPACs
New applications for Bitcoin ETFs keep getting filed with SEC: Bitcoin ETF drumbeat gets louder as eight issuers file with SEC
News and notes (Canada)
Capitalizing on the clean energy investing trend: Canadian ETF providers look to capitalize on clean energy theme
Offsetting large companies’ carbon footprints: Proposed ETFs from Evolve will offset carbon footprints of large companies
Fundata Canada introduced its new Fundata ESG Ratings: New Fundata ESG Ratings can help build RI portfolios
The Canadian federal government provides a loan and an investment in Air Canada: ‘Holy cow’: Feds take stake in Air Canada as airline lands $5.9B in aid