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June 12th - Data from the Peoples Bank of China shows that loan interest rates remained low in May. The weighted average interest rate for newly issued corporate loans (domestic and foreign currencies) in May was approximately 3.0%, about 25 basis points lower than the same period last year. Data shows that since the second half of 2018, my country has lowered the reserve requirement ratio 18 times, providing sustained medium- and long-term liquidity to the market and playing a role in the banking system and financial markets. Compared to the high point since the beginning of this interest rate cut cycle in the second half of 2018, policy interest rates have been lowered 10 times, accumulating a reduction of 1.15 percentage points. Experts have stated that in recent years, measures such as rectifying banks irregular manual interest payment practices, guiding non-bank interbank demand deposit rates to follow policy interest rate adjustments, and supporting banks in stabilizing net interest margins have facilitated the transmission of interest rate policies. Overall, my countrys policy interest rates are effectively transmitted, and loan interest rates have remained stable with a slight downward trend, staying at a low level.On June 12, the Peoples Bank of China (PBOC) released a draft explanation of the "Measures for the Administration of Large-Denomination Certificates of Deposit (Draft for Public Comment)," which states that the "Measures" reserve policy space for the future development of large-denomination certificates of deposit. It adds the repurchase rate (DR) of bonds held by deposit-taking financial institutions or other rates recognized by the PBOC as a reference benchmark for the interest calculation of floating-rate certificates of deposit, thus enriching the pricing reference indicators for large-denomination certificates of deposit.The Hungarian forint rose 0.8% against the euro to 352.15, its highest level since September 2021.June 12th - Germanys economic recovery will be slower than expected due to the impact of the Iran war, but thanks to fiscal stimulus measures, the economy is expected to regain growth momentum in the coming years. The central bank stated that GDP is projected to grow by 0.5% in 2026, 0.8% in 2027, and 1.4% in 2028. This represents a downward revision of growth rates for this year and next compared to the forecast in December last year. GDP is expected to remain stable in the second quarter and grow slightly in the third quarter. The banks president stated, "The sharp rise in energy prices will weaken household purchasing power and consumer spending. However, economic activity will regain momentum during the forecast period ending in 2028." He added, "The recovery will benefit from lower energy prices, a stronger global economy, and, most importantly, strong fiscal stimulus."Citigroup upgraded AMD (AMD.O) from Neutral to Buy and raised its price target from $460 to $575.

DoorDash Performs Well Because of Inflation-resistant Takeout Demand

Aria Thomas

Nov 04, 2022 14:49

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In the third quarter, food delivery startup DoorDash Inc.'s orders reached a new high as demand remained strong despite rising prices and inflation, helping it to surpass Wall Street's revenue estimates and sending its shares 10% higher on Thursday.


Many continue to purchase food online from the comfort of their own homes, as they did during lockdowns, despite the fact that dining out is back in full swing.


According to a business official, though, DoorDash has observed a little impact from recession-aware clients purchasing fewer items each transaction.


The company achieved 439 million orders and a 30% rise in gross order value to $13.53 billion during the quarter. The gross order value is the sum of all app purchases and subscription payments.


In addition to the food industry, grocery stores, convenience stores, and retail all performed well. "Retail and supermarket partnerships will be a growth driver for DoorDash, giving the potential for a higher average order value," said Third Bridge analyst Nicholas Cauley. DoorDash estimated a fourth-quarter gross order value between $13.9 billion and $14.2 billion and confirmed its full-year forecast for the industry's most crucial metric.


The parent company of UberEats, Uber Technologies (NYSE:UBER), said on Tuesday that the number of active drivers has returned to September 2018 levels.


Driver shortages have not hurt DoorDash, with the exception of the first quarter of 2021, when the U.S. government distributed its second round of stimulus checks to help people cope with the pandemic. According to IBES data from Refinitiv, the company's third-quarter revenue climbed by 33% to $1.70 billion, exceeding analysts' forecasts of $1.63 billion. However, the company's net loss of $295 million, or 77 cents per share, exceeded expectations.

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