In today’s briefing:
- Ohayo Japan | Nvidia Does Not Disappoint
- New Records For (Some) Dept. Stores
- #2Business Buzz: Chinese Solar, Paytm, Fed Rate Cut, Fine on Citi
- How They Roll: Emissions and Energy Consumption of SGX-Listed Transport Companies
- US Banks – Flat Loans ~USD6.7 Trillion for Almost Every Week for Nearly 2 Years
Ohayo Japan | Nvidia Does Not Disappoint
- U.S. stocks fell Wednesday as Fed minutes revealed concerns about persistent inflation, dimming hopes for imminent rate cuts
- Nvidia shares surged 5% as the company reported robust earnings, with data-center revenue skyrocketing 427% year-over-year to $22.6 billion, surpassing Wall Street’s expectations.
- Nissan to halt the development of two EVs initially set for production at its Canton plant in Mississippi, due to a slowdown in EV sales growth in North America
New Records For (Some) Dept. Stores
- We have long forecast the demise of regional department stores and the emergence of an elite group of luxury emporiums in big cities and this had been happening gradually.
- Until the last year. Now the gap between the two is widening sharply, boosted in part by tourists flocking to big city stores, resulting in both record sales and profits.
- At Matsuya Ginza for example, duty-free sales accounted for an historic 33% of sales last year. Further growth is expected.
#2Business Buzz: Chinese Solar, Paytm, Fed Rate Cut, Fine on Citi
- China’s solar expansion faces structural and regulatory challenges, risking its green energy leadership.
- Paytm (PAYTM IN) reports its first sales decline and a significant net loss.
- Traders now expect the Fed’s first rate cut by November.
How They Roll: Emissions and Energy Consumption of SGX-Listed Transport Companies
- In this insight we present GHG emissions and energy consumption metrics of select SGX-listed transport companies relative to their revenue and assets
- We also relate certain balance sheet characteristics to higher levels of GHG emissions and energy consumption among these companies
- Finally, we offer a framework investors can use to evaluate a transport company’s ability to significantly lower emissions and energy consumption going forward
US Banks – Flat Loans ~USD6.7 Trillion for Almost Every Week for Nearly 2 Years
- There is a long period of flat lining loans for large US banks indicative of weak demand that is persistent and risk-aversion by banks.
- Large time deposits have swelled and this should continue to ‘roll through’ banks’ income statement with high funding cost growth.
- We show about 30 of the largest banks in the US, their profile of high funding costs growth and weak interest income growth; flat loans will not help.
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