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Big News in Business
22nd March 2024
Girl Economics Admin
March 22, 2024
Friday! The first week of Girl Economics has been a brilliant success and I’m so excited to share some development plans with you all this weekend. In the mean time, enjoy!
Articles of the Day
The UK media is rarely filled with updates from down under but the New Zealand economy has been in a perilous state for several years now. This article explores why. TOPICS: New Zealand, Recession, Monetary Policy | All too often people are swept up in the partisanship of Democrat vs Republican. This brilliant Reuters graphic details the policies that Trump and Biden hold on key issues. TOPICS: US Election, Trump, Biden, Politics |
In The News
An Apple a day
The US government is suing Apple, accusing the tech giant of unfairly using its dominance in the smartphone market to stifle competition and limit consumer choices. The lawsuit alleges that Apple imposed restrictive contracts on developers and made it difficult for users to switch devices. If successful, the lawsuit could lead to significant changes in how Apple operates, potentially affecting its $85 billion annual services revenue. This marks the latest in a series of antitrust challenges against major tech companies by the Biden administration.
Have you read about Reddit?
Social media company Reddit saw its shares surge over 38% on its market debut, trading under the ticker RDDT at the New York Stock Exchange. This strong performance signals renewed investor interest in initial public offerings (IPOs) after a subdued period. The IPO price of $34 per share was at the top end of its range, reflecting robust demand. With a market capitalisation of nearly $9 billion, Reddit raised $748 million through its share sale, with plans to diversify revenues beyond advertising, despite never having turned an annual profit. While Reddit's IPO is seen as a positive indicator for potential IPOs, it faces unique challenges, including the risk of meme stock traders influencing its stock price.
TikTok’s uncertain future in the UK
Senior British MPs have expressed concerns about TikTok's ownership in the UK following the US House of Representatives' approval of a bill aiming to ban the video app unless it's sold by its Chinese parent company, ByteDance. MPs are demanding answers from the government about TikTok's future ownership in the UK, highlighting the platform's impact on news consumption and democratic elections. They propose legislative changes to ensure transparency regarding ByteDance's divestment of TikTok in the UK and suggest exploring designations of social media apps controlled by foreign adversaries as national security threats. Despite TikTok's assurances of data security and global operations, concerns persist about data privacy and potential manipulation.
Term of the day: Risk Premium
The risk premium is the additional return that investors expect when they invest in risky assets like stocks, compared to safer options like cash or government bonds. This premium accounts for two main factors: the possibility of losing money if the company fails or can't repay its debt, and the volatility of the asset's price, meaning how much its value fluctuates. During a crisis, risky assets can drop in value sharply, potentially forcing investors to sell them at a loss.
The Spotlight
 | Lori BeerLori Beer is a prominent figure in finance and technology, known for her illustrious career at JPMorgan Chase, one of the largest and most influential global banks. With over three decades of experience in technology and financial services, Beer has been instrumental in driving innovation and modernisation within JPMorgan Chase, leveraging emerging technologies such as AI to enhance customer experiences and operational efficiency. Beer has been named among the Forbes CIO Next list, Most Influential Women in US Finance by Barron’s, the Most Powerful Women in Banking by American Banker, Top 3 Women in FinTech by FinTech Magazine and is a Merit Award recipient by the Women's Bond Club. |
Competition Time!
That’s all for today’s edition of Girl Economics. As ever, I would love for you to reach out and send me a message on LinkedIn!
See you at lunchtime tomorrow!
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