SWB digest: Fashion in the City
12 FEBRUARY, 2016 FRIDAY
DOUBLE DOUBLE TOIL AND TROUBLE
Chaos on Wall Street: Here’s what you need to know read more…
A CRUDE BREAK ?
This tweet just sent markets spiking higher
RELAX AND TAKE A BREAK UNDER WATER
These ultra-luxurious underwater homes are being built in Dubai read more…
WAS IT A GOOD DAY?
LAST CHG %CHG
DJIA 15681.17 -233.57 1.47%
Nasdaq 4270.67 -12.92 0.30%
S&P 500 1831.41 -20.45 1.10%
Gold 1243.20 +48.60 4.07%
Crude Oil 27.15 -0.30 1.09%
CBOE Volatility 27.91 +1.62 6.16%
HOW MUCH WILL I EARN IN INTEREST?
|Most recent issues|
|At 1:30 PM ET
Data delayed by at least 15 minutes
PLEASE TELL ME WHAT HAPPENED
from The Street
Dow Comes Off 400-Point Loss, Crude Slides to 2003 Low
Stocks clawed their way back from session lows, though remained deep in the red on Thursday afternoon as many investors grew skeptical that global central banks can rein in rampant volatility and soothe financial markets.
The S&P 500 was down 1.2%, and the Nasdaq slid 0.49%. The Dow Jones Industrial Average fell 1.6%, or 240 points, bouncing from a 400-point loss earlier in the session.
Crude oil entered another tailspin over concerns of weaker demand and what it spells for the global economy. Commodity traders have also shown concern over a supply glut and the inability of some of the largest oil-producing countries to address it. West Texas Intermediate crude oil fell 4.5% to $26.21 a barrel, their lowest settlement since May 2003.
The U.S. central bank was in the spotlight after Federal Reserve Chair Janet Yellen conceded there is chance of recession in any year, though didn’t make a judgement on whether the U.S. economy is headed that way. Yellen told the Senate banking committee the Fed will make an assessment of the economy at its March meeting.
HERE’S WHAT THEY ARE SAYING
Four-Day Losing Streak for Market as Economic Concerns Grow read more…
Bear Market Descends on Global Stocks read more…
Dow Jones Industrial Average Plunges Amid Sea Of Red In Global Stock Markets read more…
Stock markets hit by global rout raising fears for financial sector read more…
WATCH THESE AT THE OPEN
Financials stocks were the heaviest hit in the selloff Thursday. Banks such as JPMorgan (JPM) , Citigroup (C) , Goldman Sachs (GS) and Bank of America (BAC) were sharply lower, while the Financial Select Sector SPDR ETF (XLF) slid 3.1%.
Boeing (BA) tumbled 10%, its biggest-ever daily decline, on news the Securities and Exchange Commission had launched an investigation into the aerospace giant. Regulators are reportedly looking into accounting irregularities associated with expected sales of its 787 and 747 aircraft, according to Bloomberg.
Twitter (TWTR – Get Report) slumped 3% on fears of slowing user growth. The social network reported that 305 million users signed into the service at least once a month, up 6% from a year earlier, marking its slowest year-over-year growth ever.
DO YOU WANT TO CREATE?
2 Harvard students built a company that will do your chores for you
— and it’s made money since day one
While attending Harvard Business School, Marcela Sapone and Jessica Beck inadvertently came up with a startup idea born from their messy apartments. Today, Alfred is a startup that hires employees — Alfred Client Managers, or just “Alfreds” — to run weekly errands: things like buying your groceries, sorting your mail, dropping off packages, and taking care of your laundry for you.
The average Alfred customer spends $415 per month, or $4980 a year. In comparison, Amazon Prime subscribers spend about $1500 a year. In its first year, Alfred achieved $1.5 million in revenue. The company has 26 corporate employees in its New York headquarters.
HOW DO YOU WANT TO EARN A LIVING?
Wooing Top Talent on a Shoestring
To attract top talent, big businesses are now investing heavily in big-ticket items to woo and retain people.
Goodies include on-site fitness facilities, top-tier team-building events, on-site clinics, gourmet chefs, customized employee stand-up workstations, giant salaries — and more.
1. A 4-day work week
2. Unlimited vacation time
3. Commitment to learning
4. Office hours with managers
5. Daily rituals
6. Community outreach
7. Culture-building structures
Building a culture that attracts and keeps top talent does not happen by accident.
FEATURE: BIZ OF FASHION FRIDAY
Summer in the City
How do you create a business that can combines everything from photographyand graphic design to model and location scouting — all to craft that all-important “image” for clients? Ask New York entrepreneur Ashley Mihelich of Summer School Creative.
“Summer School Creative is for people who don’t know how to present their image to the world. So we work together to create that vision.”
Q: What makes Summer School Creative special?
“Summer School Creative is a one-stop shop, which makes it a really easy solution when you need extra time — or more help — with your brand. We work with a range of emerging designers and established brands to put the best content out there.”
WANT TO LEARN MORE?
Gold Demand Stagnant in 2015, Price Surges on Fear
Gold Prices Rising
Gold prices have risen by 14.5% since the start of this year after fears of a global economic downturn and a weaker dollar spooked investors to turn towards safe-havens such as gold. Bullion prices have dropped drastically from their highs in 2011 when the price was $1,920.94 per ounce, compared to current price levels of around $1,234 per ounce.
The Bottom Line
Overall, demand-supply dynamics remained weak in 2015. The World Gold Council does not provide any demand outlook for this year, stating that it is too early to comment. However, it still believes that a further drop in supply could support prices in the future. It is also worth mentioning that investors will continue to invest in gold till fears of the market slowdown subside.
Read more: Gold Demand Stagnant in 2015, Price Surges on Fear | Investopedia
WANT TO CATCH UP ON PAST POSTS?
Thanks for stopping by!
Watch for Millennial Monday.
Buzzing off for today.
3500 Fairmount Street #814
Dallas, Texas 75219