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6 MM ON BOARD NOW!!
BDMM .0165 V 1.4 MIL
CANT WAIT TO BUY MORE!!!
182k .0011x 33k.00123
My target is $10.00 easy here, that prediction is for tomorrow
Touch .05 base .032x.036
Only 28 MILLION TRADED IN 3 DAYS AND WE MOVE TO A PENNY, CAN YOU IMAGINE 4 TO 6 BILLION NAKED SHARES BOUGHT!!!!
First day we hit .25 second day we hit 1.50 third day $10.00 plus
Pennies coming today
Calculating the naked short is 1 to 8 multiplier. One share shorted times eight shares naked
700 mil short times 8 equals 5.6 billion illegally shorted
Total short positions that has to get covered is grater than 6 billion
DBMM OVER 19 BILLION TRADED 8 YEAR DATA TRADED
$DBMM EACH YEAR TRADE HISTORY
$DBMM 2014 11,773,000,000 11 PLUS BILLION PLEASE READ THAT AGAIN!!!
2014 11,773,000,000. OVER 11 BILLION!!!
2015 1,327,000,000
2016 2,938,000,000
2017 1,980,000,000
2018 205,000,000
2019 429,000,000
2020 202,000,000
2021 194,000,000
$DBMM 8 YEAR GRAND TOTAL 19,048,000,000 yes 19 BILLION TRADED SHARES TRADED
Here is the link simply change the year and add away
https://ih.advfn.com/stock-market/USOTC/digital-brand-media-and-pk-DBMM/historical/more-historical-data?current=3&Date1=01/01/14&Date2=12/30/14
DBMM .006 6 million traded
*** $DBMM FORM 211 APPROVED. CONGRATULATIONS EVERYONE ***
$DBMM - ONE OF THE BIGGEST VICTORY IN OTC HISTORY.
NEVER DONE BEFORE IN OTC.
$DBMM's subsidiary Digital Clarity - https://www.digital-clarity.com/
SHAREHOLDER’S UPDATE — OCTOBER 27, 2022
http://www.dbmmgroup.com/shareholders-update-october-27-2022/
Digital Brand Media & Marketing Group, Inc. (The Company) is pleased to announce that;
“On 10/26/2022, FINRA processed a Form 211 relating to the initiation of priced quotations of DBMM, which means that the submitting broker-dealer has demonstrated to FINRA compliance with FINRA Rule 6432 and therefore has met the requirements under that rule to initiate a quotation for DBMM within four days of 10/26/2022. FINRA’s processing of a Form 211 in no way constitutes FINRA’s approval of the security, the issuer, or the issuer’s business and relates solely to the submitting broker-dealer’s obligation to comply with FINRA Rule 6432 and SEA Rule 15c2-11 when quoting a security.”
For Shareholders, this means the company has been approved to resume trading. Glendale Securities is the company’s sponsoring broker to FINRA and its designated Market Maker.
This means US shareholders can buy and sell. The restriction for US buyers has been lifted. Shareholders are also advised to do their own Due Diligence and hence ignore nonsense, opinions, and misinformation. Read FINRA 6532 regulations yourselves and SEC 15c2-11. Compliance has been fulfilled.
We will send an update in due course.
DBMM Management
THIS IS HUGE VICTORY FOR THE LITTLE GUYS!!! HEDGE FUNDS SHORTED AND NAKED SHORTED THIS COMPANY!!!
SHORT COVERING WILL START SOON!! 700 MIL SHORTED ON THE BOOKS, NAKED SHORTED SHARES ARE USUALLY 8 TO 10 TIMES THE TRUE SHORT. MONUMENTAL SHORT COVERING WILL SEND THIS TO DOLLARS!!!!
.0025
*** $DBMM FORM 211 APPROVED. CONGRATULATIONS EVERYONE ***
$DBMM - ONE OF THE BIGGEST VICTORY IN OTC HISTORY.
NEVER DONE BEFORE IN OTC.
$DBMM's subsidiary Digital Clarity - https://www.digital-clarity.com/
SHAREHOLDER’S UPDATE — OCTOBER 27, 2022
http://www.dbmmgroup.com/shareholders-update-october-27-2022/
Digital Brand Media & Marketing Group, Inc. (The Company) is pleased to announce that;
“On 10/26/2022, FINRA processed a Form 211 relating to the initiation of priced quotations of DBMM, which means that the submitting broker-dealer has demonstrated to FINRA compliance with FINRA Rule 6432 and therefore has met the requirements under that rule to initiate a quotation for DBMM within four days of 10/26/2022. FINRA’s processing of a Form 211 in no way constitutes FINRA’s approval of the security, the issuer, or the issuer’s business and relates solely to the submitting broker-dealer’s obligation to comply with FINRA Rule 6432 and SEA Rule 15c2-11 when quoting a security.”
For Shareholders, this means the company has been approved to resume trading. Glendale Securities is the company’s sponsoring broker to FINRA and its designated Market Maker.
This means US shareholders can buy and sell. The restriction for US buyers has been lifted. Shareholders are also advised to do their own Due Diligence and hence ignore nonsense, opinions, and misinformation. Read FINRA 6532 regulations yourselves and SEC 15c2-11. Compliance has been fulfilled.
We will send an update in due course.
DBMM Management
THIS IS HUGE VICTORY FOR THE LITTLE GUYS!!! HEDGE FUNDS SHORTED AND NAKED SHORTED THIS COMPANY!!!
SHORT COVERING WILL START SOON!! 700 MIL SHORTED ON THE BOOKS, NAKED SHORTED SHARES ARE USUALLY 8 TO 10 TIMES THE TRUE SHORT. MONUMENTAL SHORT COVERING WILL SEND THIS TO DOLLARS!!!!
.0025
Need to break 1.84, then we will get into the 2’s
Absolutely I hear you!
Big Oil Is About to Announce Stunning Earnings. There Could Be a Political Backlash.
Avi Salzman
Wed, October 26, 2022, 8:45 AM
Third-quarter earnings from the biggest energy companies are likely to be more than triple the levels of a year earlier. Biden doesn't want it going to dividends and buybacks.
The world is in the middle of the 'first truly global energy crisis' and needs Russian oil to flow into the market, IEA chief says
George Glover
Tue, October 25, 2022, 2:47 AM
Vladimir Putin Mohammed bin Salman
The OPEC+ deal to slash oil output raises the risk of an energy-driven recession next year, IEA director Fatih Birol said.Pavel Golovkin/AFP/Getty Images
The OPEC+ oil output cut is fueling the "first truly global energy crisis", the head of the IEA said.
He warned the Russia and Saudi-driven move cut 2 million barrels a day raises the risk of recession.
Russian oil will need to flow into the market for global demand to be met, Fatih Birol added Tuesday.
Russian oil will need to flow back into the crude market to solve an unprecedented world energy crisis, the head of the International Energy Agency said Tuesday.
Fatih Birol warned that recent supply cuts have fueled "the first truly global energy crisis", according to comments aggregated by Reuters.
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OPEC+ — a group of oil-producing countries, including Russia and Saudi Arabia — agreed earlier in October to slash crude output by 2 million barrels a day from November. The aim is to build up surpluses for next year and maintain high prices.
That policy increases the risk of a global recession, with oil demand set to outpace supply next year, Birol reportedly said at the Singapore Energy Week conference.
OPEC+ production cuts are "especially risky, as several economies around the world are on the brink of a recession," the IEA's executive director said.
"I found this decision really unfortunate," he added.
The OPEC+ supply cuts are expected to drive gains in oil prices, which have fallen about 10% in the past three months after soaring immediately after the Ukraine war broke out. Brent crude was 1.2% lower at $90.28 a barrel at last check Tuesday, while WTI crude fell 1.3% to $83.46 a barrel.
A rally in crude oil prices would likely cause inflation to rise and both industrial production and growth to fall. The IEA has warned that could tip the global economy into a recession.
"With unrelenting inflationary pressures and interest rate hikes taking their toll, higher oil prices may prove the tipping point for a global economy already on the brink of recession," the agency said in its most recent monthly oil report.
IEA projections show global oil consumption growing by 1.7 million barrels a day in 2023. Russian crude will be needed to bridge the gap between demand and supply, Birol said.
The US and the European Union decided to place limited bans on Russian oil imports after President Vladimir Putin's forces invaded Ukraine in late February.
But the G7 countries — Canada, France, Germany, Italy, Japan, the UK and the US — have proposed backing up the bans with a price cap on Russian supplies. That would limit Moscow's potential profits from oil exports without fully shutting off deliveries.
It's been estimated that these measures would leave space for between 80 and 90% of Russian oil to flow outside of the cap mechanism, which Birol said would help to make up likely supply shortfalls.
"I think this is good, because the world still needs Russian oil to flow into the market for now," he said.
Between 80 and 90% of Russian oil flowing outside the price cap is a "good and encouraging level in order to meet the demand," he added.
IEA members have also built up a stockpile of additional oil reserves that can be released onto the market if there's a need to boost supply and drive prices lower, Birol said, per Bloomberg.
"We still have a huge amount of stocks to be released in case we see supply disruptions," he said. "Currently, it is not on the agenda, but it can come anytime."
My pleasure
WM Firm EBITA =>
Pre-Merger: $ 21.94 per share (54 Million Shares) / Post Merger $10.97 per share
PAT: $16.44 per share (pre-merger) and $8.22 per share Post Merger
Valuation is always on EBITA which is on $10.97 post merger x 11 (industry average for Financial Services) => $120 around...
plus, it is not just important what we are drawing but how much we are able to retain and reinvest...If you have seen it is a very healthy 200% retention reserve...
What if these numbers turn wrong, and we will not be able to multiply, Gold is always a liquidating asset and so is rice, whisky, Aviation seats or food carts or real estate...
We are offering a mixed bucket.
Lastly to address how conservative we could go ---
if we assume gold to sell just 100 kilos a day (which capacity is possible for consumption just in hyderabad alone), the EPS turns out to be $8.16 pre-tax and pre merger and $6.12 tax adjusted on 54 million shares and 4.08 / 3.06 on 108 million shares...
So I should write we are looking at $45 in the worst case (4.08 x 11) to $120 in the best case scenario per share post merger on 108 million shares which mean $4.86 B to $12.96 Billion valuation for Cow Capital in the next 24 months. 1/7.5 approximately belongs to ITUP shareholders, which means $30 to $106 potential share value of ITUP on account of Cow Capital.
Note: PS - financials discussed here are just estimates and indicators if certain business factors assumed happen in real terms. Investors may follow caution and prudence in their decisions to invest into the Cow Capital or the backward integrated wM firm. none discussed here is guaranteed but mere estimates and financial projections.
Laxmi Prasad
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=170206996
I reposted this message
Analysis-India rice export curbs to end a decade of price stability
Rajendra Jadhav and Mayank Bhardwaj
Fri, October 21, 2022, 1:19 AM
By Rajendra Jadhav and Mayank Bhardwaj
MUMBAI/NEW DELHI (Reuters) -India's recent curbs on rice exports could trigger a rally in global prices after more than a decade of stability, traders said, as New Delhi's protectionist move coincides with falling output in other major producers and rising global demand.
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Uneven monsoon rains hit rice planting in India, prompting the export restrictions in September, and floods have cut output in Pakistan even as consumption has grown in top importers such as Bangladesh and the Philippines. That's why forecasters are saying global demand will outstrip production in 2022/23.
This is bad for Asian and African countries that use rice as a staple, some of which import as much as 60% of their supply.
Since India - the world's biggest rice exporter - banned exports of broken rice and slapped a 20% export tax on some non-basmati varieties, global rice prices have jumped more than 10%. Last month, the Food and Agriculture Organization's global rice price index rose 2.2% to hit an 18-month high.
"The international market has gone up and it will go up further," said Nitin Gupta, vice president for Olam India's rice business.
Governments worldwide had already been struggling to tame food inflation because of COVID-19 disruptions to production and supply chains, and then Russia's invasion of Ukraine removed millions of tonnes of foodstuffs from global markets, pushing inflation to a record earlier this year.
Still, before India implemented its export curbs a few months ago, industry and government officials in Asia were saying rice prices would hold steady due to ample stocks.
Rice, unlike wheat, was insulated from the Russia-Ukraine war as neither country is a big producer, and supplies of the grain had remained relatively steady during the COVID-related disruptions for other foodstuffs.
Now, however, top exporters Thailand and Vietnam sit on insufficient inventories to make up for India's curb on exports and widespread output losses. Global rice inventories could fall to their lowest in at least five years in 2023, three global traders said, citing internal assessments.
"Since India cornered 40% of the global trade, it's not easy for others to replace falling Indian shipments when demand is rising from leading importers," Gupta said.
OUTPUT FORECASTS LOWERED
The U.S. Agriculture Department (USDA) has cut its global rice production estimate for 2022/23 to 508 million tonnes, the lowest in four years. Just a month ago, the agency was expecting output for the year at 512 million tonnes.
Some top global trading houses, though, expect a sharper fall to around 500 million tonnes because of the extreme weather conditions that threaten crop yields in countries such as China, India, Bangladesh and Pakistan.
In India, dry weather conditions delayed the sowing of rice, with many farmers not planting the crop at all, and then torrential rains damaged ripening paddy fields, raising concerns about food inflation.
India's summer-sown rice output is likely to fall to 105 million tonnes in 2022/23, down 6%, the farm ministry said in September, and private traders estimate it could fall as low as 100 million tonnes.
Rice output in China, biggest consumer of the grain, could drop 2.9% from a year ago to 206 million tonnes due to higher temperatures and drought in some rice-growing regions, according Shanghai JC Intelligence Co Ltd, a consultancy.
This is a big change from last year, when India's record 21.2 million tonnes of rice exports - 30% cheaper than rival suppliers - helped cap global prices while other food commodities soared due to supply disruptions.
After the September curb, India's rice exports are set to fall by around a quarter this year.
FALLING DOWN IN ASIA
Almost all top producers are beset with lower rice output, and global demand will likely outstrip supply, said B.V. Krishna Rao, president of India's Rice Exporters Association.
India's export restrictions have helped rival suppliers Vietnam, Thailand and Myanmar increase their sales, but they have limited surplus stocks for exports, Rao said.
Vietnam's unmilled rice output is forecast to hold flat to last year's 43 million tonnes, according to government data.
Neighbouring Thailand is aiming to export 7.5 million tonnes this year, up about 7% from its previous target of 7 million tonnes, said Anucha Burapachaisri, a government spokesman.
Together the two can add no more than an extra 2 million tonnes of rice to fill the void left by India, traders said.
Meanwhile, Pakistan cannot capitalise on India's export curbs after severe flooding ravaged its crop. Its rice output could fall 18% to 7.4 million tonnes, according to the USDA.
Other Asian producers such as China, Bangladesh and the Philippines were, like India, hit by unfavourable weather conditions, including drought, flooding, typhoons and cyclones.
"The exceptional confluence of events in Asia will badly hit consumers in many parts of the world and many poor consumers will have to either buy far more expensive, superior grades or go without rice," said Himanshu Agarwal, executive director at Satyam Balajee, India's biggest rice exporter.
"The choice will be difficult."
(Reporting by Rajendra Jadhav and Mayank Bhardwaj; Additional reporting by Khanh Vu in Hanoi, Chayut Setboonsarng in Bangkok, Enrico Dela Cruz in Manila, and Dominique Patton in Beijing; Editing by Tom Hogue)
Not me
Sent
Hi Dave, I sent you a pm with two email addresses, I know you can not pm back, no worries.
Get that information off asap
Take care
Yes that poster will post it here… he has saved me hours of checking daily
India launches 75 digital banking units across rural areas in financial inclusion push
Manish Singh
Sun, October 16, 2022, 1:32 AM
India on Sunday launched 75 digital banking units in villages and small towns across the country in a move that it said will help bring financial services and literacy to more citizens.
The digital banking units, set up in collaboration with over 20 public and private banks, are brick-and-mortar outlets that are equipped with tablets and internet services to help individuals and small businesses open their savings accounts, access government identified schemes, perform verifications, make transactions and avail loans and insurance.
The physical outlets, span across all Indian states and union territories, will provide services in two modes. "Self-service mode will be available 24x7x365 days," said Shaktikanta Das, Governor of Reserve Bank of India, in a virtual conference. "The banks are also free to engage the services of digital business facilities and correspondence to expand the footprint of DBUs," he said.
Das said the units will also offer a digital assistance zone to answer queries from individuals and small businesses and hear their grievances.
Availing banking services has traditionally been a struggle for people living in villages and small towns, said Prime Minister Narendra Modi. Even as more than a billion bank accounts exist in India, people living in remote areas have had to typically take a day off from the work to visit a nearby city for their banking related work.
“We have given top priority to ensure that banking services reach the last mile,” he said. “We not only removed the physical distance but, most importantly, we removed the psychological distance.”
The digital banking units are part of the Modi government’s years-long efforts to serve people in the far flung areas of the country. The government launched Jan Dhan Yojana, a scheme to get all citizens access to banking and financial services in 2014. More than 470 million bank accounts have been opened as part of the scheme,
“Today the entire country is experiencing the power of Jan Dhan Bank accounts,” said Modi. “This opened the way for loans for the poor without collateral and provided Direct Benefit Transfer to the accounts of the target beneficiaries. These accounts were the key modality for providing homes, toilets, gas subsidy, and benefits of schemes for farmers could be ensured seamlessly. The IMF has praised India's digital banking infrastructure. The credit for this goes to the poor, farmers and labourers of India, who have adopted new technologies, made it a part of their lives,” he said.
Soybean over seas is looking very good!
America is going to shut down if we shut down’: The Mississippi River’s water levels are near record lows, and it’s wreaking havoc on one of the U.S.’s most critical supply chains
Tristan Bove
Fri, October 14, 2022, 1:43 PM
Traffic jams and stuck barges are clogging up a critical artery of the U.S. economy, as a prolonged drought pushes the Mississippi River’s water levels to near-record lows.
Around 500 million tons of supplies are ferried along the Mississippi River every year with trade value worth $130 billion, according to the Port of New Orleans, mainly agricultural products, like corn and soybeans, along with fuel products. The Mississippi River Basin produces more than 90% of U.S. agricultural exports, according to the National Park Service, and nearly 80% of the world’s grain exports.
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But all that is coming to a standstill amid historic drought conditions that are making the river untraversable for most shipping barges. River levels are now at their lowest level in a decade after historically low rainfall in recent months, becoming the latest supply-chain snag to hit the U.S.
“America is going to shut down if we shut down,” Mike Ellis, CEO of American Commercial Barge Line in Indiana, told the Wall Street Journal this week.
River traffic jams
The low water levels have clogged up entire sections of the Mississippi River in recent weeks, wreaking havoc on the local economy.
At least 2,000 barges were backed up along the river last week, Bloomberg reported, citing data from the U.S. Coast Guard. Also last week, the Coast Guard warned that at least eight heavy barges had become “grounded” in particularly shallow parts of the river.
With fewer barges able to navigate the river and longer wait times, prices are starting to go up.
“It’s definitely having an impact on the local economy, because the commercial use of this river has almost completely stopped,” George Flaggs, mayor of Vicksburg, Miss., told local news channel WAPT earlier this week, adding that the river around Vicksburg is the lowest he’s seen it in nearly 70 years.
“This will actually affect us in a very negative way. We have to have less cargo on our barges and less tonnage moving. It affects our revenues,” Austin Golding, president of Golding Barge Line, told WAPT.
It’s the worst possible time for a drought in the Mississippi, as early fall is typically when grain is harvested in the Mississippi Basin and sent down the river. Soybeans are the most commonly shipped commodity on the river, according to the Bureau of Transportation Statistics, but the low water levels are throwing the supply chain into chaos.
Full soybean trucks are being turned away from loading stations along the river entirely, Ted Kendall, a farmer near Vicksburg, told local channel WLOX this week.
With water levels so low and the river’s flow weakened, salt water from the Gulf of Mexico could start creeping upstream, which would threaten local ecology and drinking supplies. The U.S. Army Corps of Engineers announced plans at the end of September to construct a sill—an underwater obstacle—to halt the salt water’s flow upstream.
The Mississippi River tends to experience seasonally low water levels in the fall, the corps said, but with drought conditions persisting across the Mississippi’s headwater regions in the Midwest, it may be a while before water height returns to normal.
“Basically, we’re not seeing any heavy rainfall over the next several weeks to indicate that we would get any relief from low water conditions for the lower Mississippi,” Jeff Graschel, a National Weather Service hydrologist at the Lower Mississippi River Forecast
Singapore Airlines pursues Air India stake to expand market presence
Jamie Freed
Thu, October 13, 2022, 2:57 AM
By Jamie Freed
(Reuters) -Singapore Airlines Ltd (SIA) said on Thursday it was in talks with India's Tata Group about a potential merger of Vistara, their joint venture airline, with Air India to give the Singaporean carrier a bigger foothold in South Asia.
Strike gold, or stocks or crypto with custom watchlists
"The discussions seek to deepen the existing partnership between SIA and Tata, and may include a potential integration of Vistara and Air India," SIA said in a statement.
It said no definitive terms had been agreed on a deal that would form a more formidable competitor to the country's dominant airline IndiGo as well as Middle Eastern rivals that carry a large share of India's international traffic.
SIA said India had strong domestic and international traffic flows that were expected to double over the next 10 years, which compares to its more mature home market.
The Singaporean carrier has a 49% stake in Tata SIA Airlines, which operates full-service carrier Vistara, while the Indian conglomerate owns the rest.
Tata owns all of Air India after completing its purchase of the previously state-owned Indian national carrier in January.
SIA, which was focused on repairing its balance sheet, did not take part in the bidding process, but Campbell Wilson, a former senior executive at the Singaporean carrier, started as Air India's new chief executive in July.
The Indian airline is rebuilding its fleet and targeting a domestic market share of at least 30% over the next five years as it looks to repair its reputation after years of losses.
It is also launching more services to North America, where its use of Russian airspace gives it a shorter flight time than rivals that have avoided it since Moscow began its invasion of Ukraine in February.
"SIA converting its stake in Vistara into a stake for the Tata-led airline group makes sense," said Brendan Sobie, an independent analyst based in Singapore. "The creation of this group will improve the position of all the Tata airlines and SIA's investment in the Indian market."
Air India and Tata, which also controls low-cost carrier AirAsia India, did not immediately respond to requests for comment.
Shukor Yusof, head of Malaysia-based aviation consultancy Endau analytics, said SIA did not have a good track record in mergers and acquisitions.
It owned a 20% stake in Virgin Australia that was wiped out after the Australian carrier entered voluntary administration in 2020.
In 2012, SIA sold its 49% stake in Virgin Atlantic to Delta Air Lines for $360 million, well below its initial purchase price of 600 million pounds in 2000.
"Whilst the pact with Tata over Vistara appears to be working well, biting into Air India may be more than it can chew," Shukor said. "But India is the next frontier in aviation with China shut and slowing, and SIA can afford to punt and lose millions if it doesn't work out."
(Reporting by Sameer Manekar in Bengaluru and Jamie Freed in Sydney; Editing by Shailesh Kuber and Barbara Lewis)
This is well worth the 50 minutes http://apple.co/JonStewartEpisode5
SEC Chair Gary Gensler is back! Jon throws him some of the thousands of audience questions we got, and they dive into the issue of whether the SEC is doing enough to ensure market transparency, why there’s not more accountability for the market’s biggest players, and what the limits on SEC power mean in a practical sense. Plus, we set a record for most acronyms in a single episode–PFOF, DRS, PSA, UBS! You name it, we got it.
Below are definitions for some of the terminology used in this episode. Our website has a more in-depth explanation, and you can watch Jon’s first interview with Gary Gensler on our Apple TV+ “Stock Market” episode.
http://apple.co/JonStewartEpisode5
theproblem.link/StocksEpisode
Disgorgement: An SEC penalty that compels the return of any “ill-gotten gains,” meaning they were made in violation of U.S. securities laws.
Dark pools: Private exchanges for trading securities that are not accessible by the investing public. And, yes, they are actually called dark pools.
Market makers: Also known as “wholesalers,” these are firms who help investors buy and sell securities using the pool of shares they own. They’re basically a middleman with access to highly important information, who is seeing the game one thousand times faster than you.
Payment for order flow (PFOF): When brokerages route the buy and sell orders of retail investors to big market makers instead of sending it directly to the stock market. This deal helps brokerages make hundreds of millions of dollars every year.
Short-selling: Short-selling is when an investor borrows securities (usually from a broker who either has the security in their inventory or is also borrowing the security from elsewhere) and sells it on the open market with the plan to buy the security back later at a lower price. After buying back the shares, the investor returns the borrowed shares (plus interest) to the original broker and profits off of the difference.
The Securities and Exchange Commission: Commonly known as the SEC, this is the government agency that oversees securities exchanges, brokers, investment advisors, and mutual funds. They’re in charge of creating fair dealings, ensuring the disclosure of important market information, and preventing fraud.
The world should be worried’: Saudi Aramco — the world’s largest oil producer — just issued a dire warning over 'extremely low' capacity.
The global oil market remains tight according to Saudi Aramco, the largest oil producer in the world. And that does not bode well for a world that still relies heavily on fossil fuels.
“Today there is spare capacity that is extremely low,” Saudi Aramco CEO Amin Nasser says at a conference in London. “If China opens up, [the] economy starts improving or the aviation industry starts asking for more jet fuel, you will erode this spare capacity.”
Nasser warns that oil prices could quickly spike — again.
“When you erode that spare capacity the world should be worried. There will be no space for any hiccup — any interruption, any unforeseen events anywhere around the world.”
SEC Chair Gary Gensler is back! Jon throws him some of the thousands of audience questions we got, and they dive into the issue of whether the SEC is doing enough to ensure market transparency, why there’s not more accountability for the market’s biggest players, and what the limits on SEC power mean in a practical sense. Plus, we set a record for most acronyms in a single episode–PFOF, DRS, PSA, UBS! You name it, we got it.
Below are definitions for some of the terminology used in this episode. Our website has a more in-depth explanation, and you can watch Jon’s first interview with Gary Gensler on our Apple TV+ “Stock Market” episode.
http://apple.co/JonStewartEpisode5
theproblem.link/StocksEpisode
Disgorgement: An SEC penalty that compels the return of any “ill-gotten gains,” meaning they were made in violation of U.S. securities laws.
Dark pools: Private exchanges for trading securities that are not accessible by the investing public. And, yes, they are actually called dark pools.
Market makers: Also known as “wholesalers,” these are firms who help investors buy and sell securities using the pool of shares they own. They’re basically a middleman with access to highly important information, who is seeing the game one thousand times faster than you.
Payment for order flow (PFOF): When brokerages route the buy and sell orders of retail investors to big market makers instead of sending it directly to the stock market. This deal helps brokerages make hundreds of millions of dollars every year.
Short-selling: Short-selling is when an investor borrows securities (usually from a broker who either has the security in their inventory or is also borrowing the security from elsewhere) and sells it on the open market with the plan to buy the security back later at a lower price. After buying back the shares, the investor returns the borrowed shares (plus interest) to the original broker and profits off of the difference.
The Securities and Exchange Commission: Commonly known as the SEC, this is the government agency that oversees securities exchanges, brokers, investment advisors, and mutual funds. They’re in charge of creating fair dealings, ensuring the disclosure of important market information, and preventing fraud.
India’s energy future is looking green, report says
SIBI ARASU
Wed, October 12, 2022, 1:29 PM
BENGALURU, India (AP) — India’s renewables sector is booming, with the country projected to add 35 to 40 gigawatts of renewable energy annually until 2030, enough to power up to 30 million more homes each year, a report said Thursday.
The Institute for Energy Economics and Financial Analysis estimated that India, the third largest energy-consuming country in the world, will reach 405 gigawatts of renewable energy capacity by 2030. It's expected to surpass the government’s target of producing 50% of its electricity from non-fossil fuel sources by the end of the decade.
The Indian government's own projections estimate the country will produce even more renewable energy — 500 gigawatts — in the same time frame. Currently, fossil fuels account for 59% of India’s installed energy capacity, but are expected to make up just 31.6% of the energy mix by 2030.
“While there were disruptions to India’s clean energy journey because of the war in Europe among other reasons, India has big plans,” said Vibhuti Garg, co-author of the report and senior energy specialist at IEEFA. “India is energy hungry and this hunger will only increase with our economic and population growth.”
She added that the low cost of renewables as well as the need for cleaner energy sources to curb climate change have driven the growth of the sector in the country, which is the world's third largest renewable energy market.
No other country's energy needs are expected to balloon as much as India's in the coming years, as living standards improve and its 1.3 billion population grows.
The report, which analyzed data from various green energy corporations and publicly funded energy companies, also found that 151 gigawatts of renewable energy will be added by private clean energy companies alone. Adani Green Energy, a private company, will account for the largest single addition, going from 5.8 gigawatts to 45 gigawatts of renewable energy production.
Although the country has made significant strides in clean energy, experts say there is still room for improvement.
India’s “ambitious renewable energy policies” haven’t yet halted the country’s coal pipeline, said Nandini Das, a climate and energy economist at the Berlin-based think tank, Climate Analytics.
She added that there should be a “scheduled retirement plan of the existing coal capacities to give a clear signal that we are moving towards clean energy" and the current subsidies for fossil fuels in India should be reformed.
But shutting down coal and moving towards greener energy needs financing. Recent estimates say India will require around $223 billion of investment to meet its 2030 energy goals.
Long-time observers of India’s clean energy transition point out rooftop solar energy is also lacking: the country has just 7.5 gigawatts of rooftop solar installed of a planned 40 gigawatts by the end of the year.
“The challenge is that different states have different rooftop solar policies. We don’t have a holistic national policy for this segment,” said Aditya Lolla of the London-based environmental think tank, Ember.
Lolla added that other renewable energy projects also need to be ramped up.
“We really need to increase the build rates. This year we are installing an average of 1.7 gigawatts every month and we need to be hitting 3.7 gigawatts,” he said. “We can do many things to ramp up but that is the foremost thing that needs to happen and this needs to happen very soon.”
Hoping a couple loose knots tied up remotely, saving some of the courts time.
Yes I’m in the states, the verbiage was simple here, I feel for you guys over seas
For me the Subscription Agreement was flawless, it took about 10 minutes to go through. Abobe acrobat sign ran perfectly.
Like your handle, welcome to the board
India's RBI to soon commence pilot project of digital rupee
Reuters
A man walks behind the Reserve Bank of India (RBI) logo inside its headquarters in Mumbai
A man walks behind the Reserve Bank of India (RBI) logo inside its headquarters in Mumbai, India, April 8, 2022. REUTERS/Francis Mascarenhas/File Photo
MUMBAI, Oct 7 (Reuters) - The Reserve Bank of India will soon commence limited pilot launches of a central bank backed digital rupee for specific use cases, it said in a concept paper released on Friday.
The RBI has been exploring the pros and cons of a central bank digital currency for some time and is working towards a strategy to implement it in a phased manner, it said.
Use cases are being examined for an e-rupee in a way that there is minimal or no disruption to the financial system, the RBI added.
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In February, the Indian government had said that a digital rupee will be launched during the course of this financial year.
The discussion around a central bank led digital currency has gained traction across a number of countries as cryptocurrencies became popular.
"It is the responsibility of central bank to provide its citizens with a risk free central bank digital money which will provide the users the same experience of dealing in currency in digital form, without any risks associated with private cryptocurrencies," the RBI said.
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The bank also indicated that it may consider both retail and wholesale digital currency, saying there is merit in both.
In its wholesale form, a digital currency could make settlement systems more efficient and secure, said RBI, while a retail e-rupee would offer safer means of digital payment for citizens.
The digital rupee seeks to replicate the features of cash and hence would not pay out interest, unlike bank deposits. It would also provide "reasonable anonymity for small value transactions akin to anonymity associated with physical cash," the RBI said.
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