Monthly Archives: August 2022

Miferia wants to expand its wholesale inventory marketplace across Latin America

Miferia, a Mexico-based business-to-business wholesale marketplace, bagged $7 million in seed funding to continue developing its curated website connecting independent retailers in Mexico with domestic brands in categories like cosmetics, food and beverage and home décor. In 2021, nearly 300 million people were shopping online in Latin America; Mexico accounted for 27% of that e-commerce…

Investor Dennis Gartman says stocks are rallying in a bear market, and apart from the jobs number, all the data points to an economy in recession

US stocks have tumbled in 2022 as investors have panicked about growth and rising interest rates. Spencer Platt/Getty Images Investing veteran Dennis Gartman says stocks are in a bear market in an “exuberant” event.  The market recent strength comes as surprise to Gartman, as US Treasury yields remain inverted.  Despite a stunning July jobs report,…

Amazon bought the company that makes the Roomba. Anti-trust researchers and data privacy experts say it’s ‘the most dangerous, threatening acquisition in the company’s history’

Prompts on how to use Amazon’s Alexa personal assistant are seen as a WiFi-equipped Roomba begins cleaning a room in an Amazon ‘experience center’ in Vallejo, California, U.S., May 8, 2018. Elijah Nouvelage/REUTERS Amazon on Friday announced it acquired iRobot, the company that makes Roomba vacuums, for $1.7 billion. The deal prompted immediate concerns from…

Russia’s imports of Chinese goods jump 20% to hover near pre-invasion highs, helping stem the ruble’s rally

Russian President Vladimir Putin with Chinese President Xi Jinping. RIA NOVOSTI/AFP via Getty Images Russian demand for Chinese imports has ramped up to near pre-invasion levels, Bloomberg reported.  Russia bought $6.7 billion worth of Chinese goods in July, up 20% from a year ago.  As a result, local demand for China’s yuan is soaring, while…

You can co-sign a mortgage for a loved one, but you’ll take on serious risks

Co-signers will need to meet all the credit requirements for the type of mortgage they’re co-signing on. Rob Daly/Getty Images When you co-sign a mortgage, you’re using your finances to help the primary borrower qualify. Unlike co-borrowers, co-signers don’t have any claim to the home the mortgage is attached to. Co-signing a mortgage can hurt…

US stocks rise and bond yields and oil prices fall as Senate passes Biden’s climate and healthcare bill

Getty Images Stocks opened higher Monday while oil prices slipped and bond yields fell.  Senate Democrats passed legislation late Sunday that delivers on climate, healthcare and taxes.  Wall Street is awaiting key inflation data due out on Wednesday.  US stocks opened higher Monday as bond yields and oil prices fell, while Wall Street braces for…

Attacks on nuclear power plants are ‘suicidal,’ UN chief warns as artillery strikes land near Ukraine’s Zaporizhzhia plant

The Zaporizhzhia nuclear power plant is shown in Enerhodar as seen from Nikopol in April 27, 2022. Ed Jones/AFP/Getty Images Ukraine and Russia traded blame for recent strikes around the Zaporizhzhia nuclear power station. UN Secretary-General António Guterres warned on Monday that attacks around the plant — Europe’s largest — are “suicidal.” Russian forces who occupy the…