There’s a major reason for this stock sell-off that people are missing, and it’s only getting worse

Banknotes of the U.S. Dollar on January 25, 2018.

The October stock market sell-off has been puzzling to many investors because most companies are riding high on business confidence and a tax-cut windfall.

Plus, profit growth has been solid, and many companies have been beating expectations on strong sales numbers and a positive outlook.

Most important thing to watch next week  

But one real worry cited on post-earnings conference calls is the rising U.S. dollar, which makes business overseas more expensive for U.S. companies. The strong dollar was cited by companies as varied as Anheuser-Busch and PPG Industries.

And it’s a problem that is only getting worse. The gains in the U.S. Dollar Index, a measure of the greenback against a basket of major currencies, are accelerating, up another 2 percent in the last one month. By no coincidence, the S&P 500 has headed lower at the same time.

3M revised its earnings per share estimate to include a 5 cent per share hit from currency translation. It previously had factored in a gain of 10 cents a share. And United Parcel Service said currency fluctuations could be a drag of $35 million to $45 million in the fourth quarter.

Add that to rising interest rates, rising fuel costs and the early effects of tariffs on imports of steel, aluminum and other manufacturing materials, and executives have struck a more cautious tone for the near term, though the overall message is still positive.

The dollar was higher versus most currencies again on Friday morning as stock futures pointed to another big drop.

Why you shouldn't panic when stocks are getting slammed

Why you shouldn’t panic when stocks are getting slammed   9:47 AM ET Fri, 12 Oct 2018 | 02:11

“The market doesn’t believe 2019 growth is going to be anywhere near what it is expected to be,” said Nick Raich, CEO of research firm Earnings Scout.

Raich adds that there’s no evidence any of these fears will come true. Estimates for 2019 first- and second-quarter earnings have actually inched up, he said. And revenue growth of 8 percent for the S&P 500 companies that have reported so far is outpacing expense growth.

‘Unfavorable impact’

Anheuser-Busch on Thursday slashed its dividend in half and said beer sales fell during the third quarter. Currency volatility is a challenge for the brewing giant, which bought U.K.-based SABMiller in 2016. “In the last six months, we’ve seen a lot of [currency] volatility,” Chief Financial Officer Felipe Dutra told reporters on a conference call Thursday, as reported by Reuters. “This scenario triggers some sort of uncertainty and at a certain point … we thought it was the right time to adjust the dividend.”

PPG, an industrial bellwether, said currency turned into a headwind the third quarter as the dollar strengthened. Currency translation lowered sales $80 million and pretax income took a hit of $15 million. It also said sales could be cut $50 million to $60 million in the fourth quarter because of the “unfavorable impact” of currency translation.

Illinois Took Works said year-over-year earnings growth of 11 percent, to $1.90 per share, was on the high end of its range but included 3 cents a share of “unfavorable currency translation impact.”

Companies have had to adjust to account for the stronger dollar. “We’ve taken some other actions around the emerging markets and initiatives to ensure that we can overcome that,” UPS CFO Richard Peretz said on a call with analysts. “That’s one of the reasons we’ve called out the guidance for the total company to remain where we expect it to be even given this new headwind.”

Currency isn’t the only extra cost companies are facing. On Thursday, Southwest Airlines reported record third-quarter profit that beat expectations, then burst the bubble by saying its costs were going up more than expected, largely because of fuel. American Airlines said a 42 percent increase in fuel costs ate into its third-quarter profit despite record revenue.

More than one-third of companies reporting earnings so far have mentioned the Trump administration’s tariffs. Harley Davidson said it will pay at least $40 million more this year to cover such costs.

Estimates for next year reflect optimistic company guidance on sales and their ability to pass some of the higher costs on to customers, Morgan Stanley analysts said in a note last week. But tech is more vulnerable to profit-margin pressure, they said, as are consumer discretionary and transportation stocks.

Texas Instruments, like other semiconductor companies, is also seeing weakness ahead. While it beat profit expectations, it issued a weaker fourth-quarter outlook blaming slower demand. “We are heading into a softer market,” CFO Rafael Lizardi said on a conference call this week. “We believe this is mostly driven by a slowdown in semiconductors.” That slowdown, executives said, comes after several years of strong growth.

[“source=cnbc”]

Mi Mix 3 poster shows blue and green colors, confirms rear fingerprint reader

It appears that someone put out a Mi Mix 3 poster a bit too early. The poster doesn’t show a lot that we didn’t already know but it still confirms cool looking green and blue variants. And we get to see the rear-mounted fingerprint reader.

The theory of in-display fingerprint was initially thrown around and since the Xiaomi Mi 8 Pro and Explorer Edition were both equipped with the tech, it sounded legit. But then the first photo of the back panel leaked the other day made us think twice.

At least the Mi Mix 3 offers advanced 3D face unlocking tech on the slider so if you are not a fan of the fingerprint placement, there’s always an alternative.

[“source=cnbc”]

The Medical Minute: Understanding Personal Health History for a Healthier You

As researchers learn that more health conditions have genetic links, knowing your personal and family health history becomes more important than ever. Upcoming holiday gatherings with family members can be a good time to sit down and piece together missing information so you know your personal risk factors and what preventative steps to take.

Dr. Mack Ruffin, chair of the Department of Family and Community Medicineat Penn State Health, said many of his patients simply haven’t had that conversation with their relatives.

“If you are in your 50s or 60s and your parents are still living, you need to make sure you get that information soon,” he said. “I’m amazed how many adults don’t understand their own personal health history and what surgeries they had as a child.”

He recommends knowing the health history of all first-degree relatives, which include parents and siblings. If those relatives are deceased, it is important to know what they died from and how old they were at the time of death. If they were diagnosed with an illness, find out how old they were at the time of diagnosis and what the exact diagnosis was.

“Cancer in particular can be challenging,” he said. “People often know someone died from cancer, but they don’t know what type.”

Patients can use the information they collect to discuss with their health care provider the preventative measures they should take. “We try to tailor what we recommend to people based on their family history,” Ruffin said. “A lot of diseases have genetic components.”

If colon cancer – or early-onset colon cancer – runs in the family, you may want to start screenings for it before the recommended age of 50. If your parent died from a heart attack in his or her 40s, you may need to be more aggressive about controlling your risk factors – keeping a healthy weight and cholesterol profile and not smoking.

Ruffin cautions against making blanket assumptions based on the information you collect. He said it’s important to know some context: “What that person did might be different than what you are doing.”

For instance, if your grandfather smoked or worked in a mine and died of lung cancer but you do neither, your chances of developing lung cancer are not necessarily as high.

“So when the pumpkin pie is gone, sift through family records and have some conversations with your relatives,” Ruffin said. “There are many useful tools online to help collect, track and document the information. It’s really important to understand your medical history and have it as accurate as possible.”

[“source=GANT News“]

US crude tumbles 12% from high as oil bulls retreat

Oil pump oil rig energy industrial machine for petroleum.

Oil pump oil rig energy industrial machine for petroleum.

Crude oil futures posted their third consecutive weekly loss on Friday as the bulls that pushed oil prices to nearly four-year highs head into retreat.

U.S. West Texas Intermediate crude ended this week down 2.2 percent and has now tumbled about 12 percent from its recent high of $86.74 on Oct. 3. Brent crude, the international benchmark for oil prices, fell 2.7 percent this week and is down 10.5 percent from its Oct. 3 high of $86.74.

Crude futures have gotten swept up in a wider stock market rout this month, with most of the losses for oil coinciding with a sell-off in equities. But the narrative driving oil prices has also flipped in recent weeks, and traders are closing out bullish bets on the commodity.

At the start of October, oil prices were rising on signs that U.S. sanctions are shrinking Iran’s crude exports faster than anticipated, potentially leaving the world with a shortage of oil. The sanctions are expected to cut crude exports from Iran, OPEC’s third-biggest oil producer, by about 1 million barrels per day.

[“source=cnbc”]

Here’s how to watch the Xiaomi Mi Mix 3 event live

The season for the slider smartphones begins with the launch of Xiaomi Mi Mix 3. The device is going official today at an event in Beijing, China, taking place between the walls of the Forbidden City. We are already at the venue to learn everything about the Mi Mix 3, and here’s how you can watch the event that starts at 2PM local time or 6AM UTC.

The new Xiaomi flagship will arrive with 5G capabilities and up to 10 GB RAM, the company confirmed. It will have a 24 MP AI front-facing camera, hidden behind the screen that can pop up with a simple slide.

That allows the phone to reach massive amounts of screen-to-body ratio, with the actual percentage to be revealed later.

To watch the whole unveiling, follow the Source link below

[“source=gsmarena”]

October Android distribution: Oreo grows and still no Pie

Three months after the stable release of Android Pie and it still doesn’t show in the monthly stats. However, Oreo is on the rise since September while Nougat numbers are falling.

Perhaps more OEMs are updating their devices to Oreo or the new device releases in the mid-range and low-end segment have pushed Oreo numbers up a little. If you haven’t noticed, most of the new releases for the past couple of months come with Android 8.1 or 8.0 Oreo out of the box.

The rest of the Android versions such as Lollipop, Marshmallow, KitKat and Jelly Bean hover around the same percentages with steady but negligible share decrease.

Keep in mind that versions with less than 0.1% share are not shown and the data is collected during a 7-day period ending on October 26. Which could also mean that Gingerbread probably won’t make it to the charts in November or December.

[“source=.gsmarena”]

Is Higher Education Still Relevant For Millennial Entrepreneurs? 4 Reasons It Might Be

Is Education Relevant for Millennial Entrepreneurs

It’s easy to look at entrepreneurs that never graduated from college, like Steve Jobs or Bill Gates, and assume that you can follow in their footsteps to achieve your entrepreneurial goals.

When combined with the sobering statistics about the growing student debt crisis in the United States, investing in formal higher education can seem like a liability, rather than an asset.

While it’s true that many entrepreneurs have found success without a college education, this doesn’t mean that education is without merit for millennial entrepreneurs today. Many successful side hustlers and startup founders still get started while taking college courses.

Still, others use their educational experience as a launchpad for growing into a new business venture.

Though the modern college system certainly has its flaws, there are still many reasons why it remains relevant for millennial entrepreneurs. A recent interview I conducted with Uri Pomeranz, CEO of Twine, further built this case. As he explains, “Education feels like such a gift… and a way to really transform your life.”

Here’s a closer look at why this statement about higher education still rings true today.

1. Developing The Right Mindset.

“It was less about the actual education, but more about the mindset that I had,” Pomeranz shares. “You don’t need a fancy college degree to adopt this mindset, but just the idea of setting larger goals, trying new things, failing, learning and trying again, that sort of kernel really kicked up in college for me.”

This educational mindset paid big dividends later when Pomeranz wanted to get more involved in programming—something he still cites as the best investment he’s ever made for his business.

“I rolled up my sleeves and said, this is difficult technology, I’ve got a steep learning curve. Through hundreds of hours of learning and sheer will power, I came out of it with a deep confidence in how systems are built, the ability to understand what’s happening in technology, and being able to be effective as we started growing and hiring an engineering team.”

With the right approach, college can become the perfect place to foster a continual love for learning. Developing this mindset in college will make it much easier to take advantage of learning opportunities later on, so you can continue to grow and adapt in your business.

2. Becoming A More Well-Rounded Person.

These days, it seems like bringing up any political issue can instantly launch a heated debate—yet despite this, research has found that millennials lag far behind other generations in terms of political awareness. A study from Pew Research even found that many are significantly less aware of major news sources like USA Today and The Washington Post.

This lack of education and awareness represents a serious issue, and not just on election day.

To gather more perspective on this, I reached out to Kevin Brown, CEO of Source Voting, who elaborates, “Specialized knowledge may help you perform great at certain activities, but you need to be aware of other things that will affect your business. You need to know the potential impact of different political policies and economic trends.”

Brown continues, “That’s why our company helps people learn about candidates running for office in their area so they become more informed voters. If you allow yourself to remain uninformed, you could be blindsided by change.”

It turns out there’s sound logic behind the general education classes that are part of earning a college degree. From becoming more aware of societal trends, to brushing up on your math skills, a well-rounded educational experience equips you with a wider knowledge base that you can use to better handle the challenges and opportunities of entrepreneurial life—and even be more informed when you head to the polls.

3. Seeing Multiple Perspectives.

Many of the biggest factors that cause startups to fail can be traced back to the same root problem—failing to understand the wants (and needs) of your customer. Quite often, this occurs because an entrepreneur approaches an issue solely from the business side, without accounting for other perspectives.

After starting a nonprofit micro-finance company, a desire to understand multiple perspectives led Pomeranz to pursue a dual degree program through Stanford and Harvard, so he could get a Masters in international economics and an MBA simultaneously. Pomeranz discovered that the public sector and business world were two very different worlds, but with a lot of overlap.

Learning about these differences and commonalities gave Pomeranz greater perspective on how to perform at scale and achieve quality outcomes for his entrepreneurial endeavors.

The more you can empathize with and understand others’ experiences, the easier it will be to place yourself in your customer’s shoes and provide life-changing products or services.

4. Building The Right Relationships (Networking Opportunities)

Networking is used to hire an estimated 80% of job openings—and in entrepreneurship, these connections can be even more valuable.

The relationships you establish during your formative college years can go on to help you identify opportunities for partnerships, investors, joint ventures, or new areas of expansion for a business you may be running years down the road.

Many of the most successful startups are built through partnerships with groups of like-minded people working toward a similar goal. There are few better places to meet the people who will share this entrepreneurial drive than during college—and Pomeranz is the perfect example of this.

He started his first micro-finance startup while still in college, which he says got him “hooked” on entrepreneurship. Later, he started the financial company, Guide Financial, with someone he’d met while attending Stanford.

College gives you the opportunity to form invaluable relationships with both professors and fellow students—resources you can go back to time and time again, to help reach your entrepreneurial goals.

From expanding your knowledge base and personal network so you can succeed in business, to simply establishing the right background for landing a paying job as you wait for your side hustle to take off, it’s clear that receiving a higher education has several potential benefits.

True, college is not for every would-be entrepreneur, but there’s no denying that furthering your education is always an  investment worth considering.

[“source=forbes”]

Avanti Finance appoints CEO; operations to start next year

Avanti Finance, founded by corporate bigwigs like Ratan Tata and Nandan Nilekani, on Thursday announced appointment of Rahul Gupta as its Chief Executive Officer.

The company targets to begin full-scale operations in the first half of 2019, with a goal to serve 100 million households in the next five years, the company said in a statement.

The other founder members include reputed economist Vijay Kelkar and Managing Trustee of the Sir Dorabji Tata Trust R Venkataramanan.

Avanti has been conceived as a financial inclusion model with a mission to provide timely, affordable credit to the unserved and under-served segments leveraging new age digital technologies, it said.

  • “The funding for Avanti has come from the personal philanthropic capital of Tata and Nilekani, and their returns will be redeployed into philanthropy. Avanti’s objective carries forward the goals of the Tata Trusts in striving for socio-economic development in the hinterlands of the country for the last 126 years,” it said.

The Avanti platform leverages India’s digital infrastructure, and will partner with social sector players and community organisations and it has begun pilots in Bihar, Uttar Pradesh and Uttarakhand.

Prior to joining, Gupta was with GE Money as managing director for the full suite of its businesses for the 10 countries of the ASEAN region.

Commenting on the appointment, Ratan N Tata said, “Rahul possesses the experience of leading consumer finance both in India and developed countries.

[“source=TimeOFIndia”]

The special needs education crisis is here. I know from my autistic son

‘The very nature of PDA means that the further my son goes through school and the demands on him grow, the less he is able to cope.’

While most families in the UK have spent their half-term in pumpkin patches or picking out frightening outfits for Halloween, this week has been terrifying in a completely different way for parents of children with special educational needs and disabilities (Send). Two Guardian reports have highlighted the looming Send crisis our children are facing in school. I can tell you that crisis is already here.

My seven-year-old son has autistic spectrum disorder (ASD), with the added complication that he also has a diagnosis of pathological demand avoidance (PDA) – complicated because, although it’s under the umbrella of ASD, it isn’t recognised by most health authorities, and the condition – though on the autism spectrum – requires techniques very different from classic autism to manage it. In a nutshell, while my son is very bright, he has a host of complex needs that manifest as anxiety, which in turn presents in violence and aggression, meaning that he finds mainstream school impossible.

He has just started in Year 3 at our local junior school and I have been fighting to get him what he has been legally entitled to since he began formal schooling. When we – I must add that I can’t fault my son’s school, it has been completely supportive – first applied to get him an education health and care plan (EHCP), it was rejected. His condition wasn’t even considered severe enough to warrant an assessment. This is a child who has such extreme sensory needs that he goes into meltdown if there is too much noise, too much light, too many people in his personal space – all problematic in a mainstream school.

We fought this decision and eventually he was assessed by an educational psychologist who decided his needs warranted a full-time, one-to-one learning support assistant (LSA). Quite a leap from saying he didn’t need assessing at all. My son’s EHCP was finalised at the end of Year 2 – two and a half years after we started the process.

The very nature of PDA means that the further my son goes through school and the demands on him grow, the less he is able to cope. In those two and a half years, his needs changed hugely. He could no longer stand to be in the classroom because of the noise, smells and general busyness. He began to hit out – at other children, teachers, the head – because of his distress. His violent and challenging behaviours at home became worse than I’d ever known. He attacked his younger sister regularly. He began attacking me, which was completely new. I was bitten, punched, kicked, scratched, sworn at and – on one horrible occasion – strangled. He began making threats to harm himself, even attempting to climb out of his bedroom window. It was horrifying to see him in such distress.

I called an emergency review of his EHCP – knowing that being in the wrong school setting was at the heart of this. After consulting with the school, including the special educational needs coordinator, we all came to the conclusion that my son needs specialist provision. We put our argument to the local education authority, which attended the emergency meeting, and were told there were no places in local authority funded schools.

This is not just my problem or my son’s problem. Or the problem of his LSA, who has been attacked by him. Or the children in his class who are afraid of him because of his violent outbursts. It’s not just the Send child who is being failed by the funding crisis, it’s every individual they encounter during their highly stressful day in a setting that can’t cater for their needs.

That “emergency” meeting was in June. Since then my son has moved to junior school (and jumped up a key stage) and is struggling more than ever. He refuses to walk anywhere, and some days refuses to go to school, which has never happened before. He’s the most unhappy I’ve ever seen him and it breaks my heart several times a day.

There seems to have been very little progress in getting my son into a suitable setting. The LEA has apparently contacted some local providers, but they cater for social and emotional mental-health needs. My son doesn’t have mental-health needs. He is autistic and needs a setting that can help him manage his autism. The challenging behaviours are my son trying to communicate that he is struggling. When he is calm and his sensory needs are being met, he is the most loving and wonderful child you’ll ever meet. I know my child. And I know that if he isn’t given the education he’s entitled to, then he is likely to end up with mental-health issues, in common with 80% of autistic people, according to the mental health charity MQ.

Meanwhile, my future includes an expensive court battle as I try to persuade the LEA to fund a place for my son at an independent school that specialises in his condition. If the crisis isn’t already here, then what further awfulness awaits us?

Katy Brent is a freelance writer and journalist covering parenting, lifestyle and entertainment

… we have a small favour to ask. More people are reading The Guardian’s independent, investigative journalism than ever but advertising revenues across the media are falling fast. And unlike many news organisations, we haven’t put up a paywall – we want to keep our reporting as open as we can. So you can see why we need to ask for your help.

The Guardian is editorially independent, meaning we set our own agenda. Our journalism is free from commercial bias and not influenced by billionaire owners, politicians or shareholders. No one edits our editor. No one steers our opinion. This is important because it enables us to give a voice to the voiceless, challenge the powerful and hold them to account. It’s what makes us different to so many others in the media, at a time when factual, honest reporting is critical.

Our journalism is increasingly funded by our readers – thank you for your support. Less than three years ago we had 200,000 supporters; today we have been supported by over 900,000 individuals from around the world. Hundreds of millions read The Guardian’s independent journalism every year but less than 1% of them help fund it. Our long term future will only be secure if we’re able to keep growing this relationship.

[“source=theguardian”]

Honda Car Will Roll Out BS6 Compliant CarAhead Of The April 2020 Deadline

Honda Cars will comply with the upcoming BS6 standards at least four months prior to the norms.

Honda Cars will comply with the upcoming BS6 standards at least four months prior to the norms.
It is pretty much obvious that all the Indian automakers will have to start production of BS6 compliant vehicles before the April 2020 deadline. While most of the companies plan to roll out their cars ahead of the introduction of the BS6 norms, Honda Car India’s strategy is no different. The company has shared that its entire product line-up will comply with the upcoming BS6 standards at least four months prior to the norms kicking in. On the side lines of the 4th edition of the CII Smart Manufacturing Summit held in Delhi today, Mukesh Manocha, Assistant General Manager, Welding Division, Honda Cars India, spoke to carandbike about the Japanese carmaker’s preparations to meet the BSVI norms and said, “We will be ready much before the BSVI norms are regulated throughout the country.” When asked about a specific timeline, Manocha said, “I will not give you the exact month now but yes at least four months before the BS6 norms kick in.”

Honda already has the technology and experience to get its cars ready for the BS6 norms. However, the limitation is BS6 most likely will increase the cost of the cars and significantly for diesel cars which will have to be fitted with a Diesel Particulate Filter in addition to a Catalyst reductor and exhaust treatment system. Honda currently has two diesel engines in India- a 1.5-litre i-Dtec motor that made its debut in the first-generation Honda Amaze and also is the workhorse for diesel variants of the City, WR-V, Jazz and the BR-V. Then there’s the 1.6-litre i-Dtec engine that made its way into the country in the recently launched Honda CR-V. The latter one is exclusively made for the Indian market and is being assembled in Honda’s Greater Noida plant in India. Honda will consider exporting it at a later date.

Also Read: Honda Cars India Looking To Set Up A Third Facility In The Country

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Honda is planning to bring five new models in the Indian market in next three years. The upcoming big lunch is the Honda Civic facelift which was recently unveiled. The Honda Civic facelift is powered by a 140 bhp, 1.8 litre petrol engine in the global market, however; it’s likely to get a bump up in the power output for the Indian market. One among the five new launches will also be the a compact SUV- Honda HR-V (known as Vezel in some foreign markets) that will go up against the Hyundai Creta

[“source=ndtv”]