The British government signed its first international trade deal independent of the European Union on Friday, agreeing with Japan on tariff-free trade for virtually all exports. The U.K. has secured its first major post-Brexit trade deal after signing an agreement with Japan just as discussions with the European Union appeared to be on the verge of collapse Sep 11, 2020 (AmericaNewsHour) —
Research Nester has released a report titled “Europe Mobile Insurance Market – Demand Analysis & Opportunity Outlook… The “Middle East and Africa Smartwatch Market – Growth, Trends, and Forecasts (2020 – 2025)” report has been added to ResearchAndMarkets.com’s offering. More than a decade ago, it was much more common for companies to go public earlier in their development, allowing investors to participate in the rise of winners like Amazon and Google. The Big Tech stocks drove the coronavirus stock market rally higher from its crash that had formed a trough in March this year.
Sept. 11 (UPI) — The British government signed its first international trade deal independent of the European Union on Friday, agreeing with Japan on tariff-free trade for virtually all exports.
“This is a historic moment for the U.K. and Japan as our first major post-Brexit trade deal,” she said in a statement, adding that it goes “far beyond” access to the Japanese market that Britain had while part of the EU.
The two sides aim to implement the deal by Jan. 1, when the Brexit transition period ends.
Officials said British businesses will benefit from the deal, which establishes tariff-free trade on 99% of exports to Japan, brings a $2 billion boost to the British economy and increases workers’ wages.
Britain and the EU are still deadlocked in reaching their own trade agreement, which would define their economic relationship in the post-Brexit era.
In 2018, British trade with Japan was worth $37 billion while its trade value with the EU was $845 billion.
UK inks Japan trade deal in principle just as EU talks sour
The U.K. has secured its first major post-Brexit trade deal after signing an agreement with Japan just as discussions with the European Union appeared to be on the verge of collapse
LONDON — The U.K. secured its first major post-Brexit trade deal on Friday after signing an agreement with Japan just as discussions with the European Union appeared to be teetering on the brink of collapse.
The deal, which has so far only been agreed upon in principle and for which details are thin, will increase commerce with Japan by around 15 billion pounds ($19 billion), the U.K. said.
“The agreement we have negotiated — in record time and in challenging circumstances — goes far beyond the existing EU deal, as it secures new wins for British businesses in our great manufacturing, food and drink, and tech industries,” said Britain’s international trade secretary, Liz Truss, who pointed to concessions on English sparkling wine and Wensleydale cheese.
The government said U.K. businesses will benefit from tariff-free trade on 99% of exports to Japan and that it will give British businesses a gateway to the Asia-Pacific region. Overall, it said the deal with Japan, the world’s third-largest economy, will deliver a 1.5 billion-pound boost to the U.K.
Britain’s Conservative government has said that one of the benefits of Brexit is that it allows the country to negotiate trade deals with whoever it wishes — the EU negotiates trade deals on behalf of its members.
Skeptics say nothing can mitigate for the losses Britain would suffer in the event of a ‘no-deal’ outcome with the EU. Such a scenario would see tariffs and other impediments imposed on trade between the U.K. and the EU. Though both sides would suffer from the new barriers to trade, most economists think Britain would be hit disproportionately.
They point to the U.K.’s existing trade arrangements to argue that a ‘no-deal’ would be catastrophic. In 2019, the U.K. exported some 36.7 billion pounds of goods to Germany, Europe’s largest-economy, or 10% of its total. Exports to Japan were just 7.2 billion pounds, or 1.9% of the total.
The talks with the EU have not collapsed yet and discussions are set to resume on Monday in Brussels. Though the U.K. left the bloc on Jan. 31, it is in a transition period that effectively sees it benefit from tariff-free trade until the end of this year. The discussions are about agreeing on the broad outlines of the trading relationship from the start of 2021.
Concerns over a post-Brexit deal have heightened in the past few days since the British government said that new legislation breaches parts of the withdrawal agreement, which allowed for the country’s smooth departure from the bloc.
The diplomatic shockwaves from the British announcement could derail any hopes Prime Minister Boris Johnson may have of negotiating a U.S. trade deal. The House of Representatives speaker, Nancy Pelosi, warned the British government that there will be “absolutely no chance” of a trade deal if the U.K. violates its international obligations as they apply to the peace process in Northern Ireland. Congress has to ratify all U.S. trade deals.
Even before the current standoff, the trade discussions with the EU had made little progress, with the two sides wide apart on business regulations, the extent to which the U.K. can support certain industries and over the EU fishing fleet’s access to British waters.
The renewed Brexit uncertainties come as the British economy gradually recovers from a deep recession caused by the shutdown of businesses during the coronavirus pandemic. The Office for National Statistics said the economy grew by a month-on-month rate of 6.6% in July as many sectors, including pubs and restaurants, started reopening. Despite the increase, the economy remains 11.7% smaller than it was in February.
The looming end of a salary-support scheme that will likely see unemployment rise and the heightened Brexit uncertainties are expected to weigh on growth in the months ahead.
Former Labour prime minister, Gordon Brown, urged the government to provide more support for those likely to be unemployed after the end of the Job Retention Scheme in October and to avoid a “huge act of self-harm” in its discussions with the EU.
“We’ve got a cliff-edge on the furlough scheme on Oct. 31 and we’ve now got a cliff-edge on Brexit,” he told BBC radio.
Follow AP coverage of the virus outbreak at https://apnews.com/VirusOutbreak and https://apnews.com/UnderstandingtheOutbreak
Author: ABC News
Europe Mobile Insurance Market: Europe Size, Share, Growth, Overview, Opportunities, Top Leading Company Analysis and Forecast till 2028
The GSM Association, in one of its statistics, stated that in the year 2017 in Europe, there were over 465 million unique mobile subscribers which is equivalent to over 85% of the population of Europe.
The statistics portray the increasing mobile subscriber base over the years in Europe, along with the increasing purchase of expensive mobile phones, which is raising the need amongst individuals to procure mobile insurance to keep their mobile safe. Increasing concerns for the number of smartphone crime in the region, numerous benefits of mobile insurance provided by insurance providers to the customers and the growing adoption of mobile phones are some of the factors anticipated to drive the growth of the Europe mobile insurance market.
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The Europe mobile insurance market is anticipated to achieve a CAGR of 6.16% during the forecast period, i.e. 2020-2028. The market is thriving on account of the ongoing trend of mergers and acquisitions between stakeholders and the growing strategic movements adopted by players in the mobile insurance industry, growing customization in the insurance policies, such as better support terms of services that include data protection, recovery features and other extensive technical support, increasing transformation observed in the mobile insurance market to digital-first business models and the growing number of incidents of accidental damage, device malfunction and thefts among others are some of the factors anticipated to promote towards the growth of the Europe mobile insurance market. The market is expected to reach a value of USD 10254.2 million in the year 2028 from a value of USD 6030.0 million in the year 2018 and further gain an incremental $ opportunity of USD 112.3 million in the year 2020 as compared to the previous year. Additionally, the market is also anticipated to gain an absolute $ opportunity of USD 3896.9 million during the forecast period.
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The Europe mobile insurance market is segmented by providers into retailers, device OEMs, mobile operators and online. Among these segments, the retailers segment registered the largest market share of 41.20% in the year 2018 and is expected to garner a CAGR of 6.29% throughout the forecast period by growing at 1.63x. Additionally, the segment is also anticipated to gain an incremental $ opportunity of USD 49.6 million in the year 2020 as compared to the previous year and gain an absolute $ opportunity of USD 1650.4 million during the forecast period.
However, concerns for the depreciating market value of old mobile phones and the concerns regarding the replacement of smartphones by consumers in over two years on an average are some of the factors anticipated to impact negatively towards the growth of the Europe mobile insurance market.
This report also studies existing competitive scenario of some of the key players of the Europe mobile insurance market, which includes profiling of Asurion Europe Limited, Assurant, Inc. (NYSE: AZ), AmTrust Europe Limited, AT&T Inc. (NYSE: T), Brightstar Corp., Revolut Technologies Inc. and Vodafone Group plc (LON: VOD).
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The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Europe Mobile Insurance Market – Demand Analysis & Opportunity Outlook 2028”, analyses the overall Europe mobile insurance industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the Europe mobile insurance market in the near future.
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Middle East and Africa Smartwatch Market Growth, Trends, and Forecasts 2020-2025 – ResearchAndMarkets.com
The “Middle East and Africa Smartwatch Market – Growth, Trends, and Forecasts (2020 – 2025)” report has been added to ResearchAndMarkets.com’s offering.
Owing to the rising penetration rates of urbanization, the demand for aesthetically appealing advanced products with the ability to better serve the consumers’ requirements, such as time schedules, multiple features in one device, has been driving the demand for smartwatches. Moreover, the enormous millennial population in the region has been adopting smartwatches due to the increased spending for their regular work hours tracking and luxury standards.
With the number of connected wearable devices in the Middle East and Africa expected to reach 46 million by 2022 (according to Cisco), the region’s wearables market is in the midst of the significant transformation. The market is witnessing a transition from fitness bands to smart wearables like watches.
It is expected that South Africa could be the next big market for smartwatches. The adoption level of wearable technology is currently low in South African households. However, this is expected to increase as the technology becomes more widespread and affordable. According to Samsung Enterprise Mobility, smartwatches and other wearables may soon move from consumer devices to valuable enterprise tools, and South African CIOs are preparing to manage and secure the wave of new enterprise technologies and is anticipated to provide massive opportunities for vendors in the forecast period.
The geriatric population suffering from numerous diseases is creating a shift in-home care toward a more precision-based personal care model. For instance, the Middle Eastern population is aging rapidly. As aging is one of the primary risk factor for cancer, the incidence and prevalence of that disease are growing among all the people in the region. According to UN figures, it is predicted that the MENA population would increase from 443 million to 654 million by 2050. It is expected that there would be almost 18 million people over the age of 60, living in the GCC by 2050, representing 25% of the total population and a significant increase in the current number.
The region’s aging population may require increasingly constant monitoring, thus, driving the demand for new smartwatches for health tracking purposes, during the forecast period. The region is witnessing demand for smartwatches for healthcare purposes. Numerous new use cases are starting to gain traction, and users are increasingly able to see the real health and fitness benefits that wearables can provide.
The recent outbreak of COVID-19 across the globe has affected various industries around the world. The shutdowns of production plants have affected the electronics industry. Companies, including Apple, Samsung, among others, have closed their production plants. It is expected that smartwatches, laptops, and other devices are expected to witness low demand in the first half of 2020. However, sales of wearables are expected to improve in the second half of the year when devices such as the Apple Watch are updated.
Key Market Trends
AMOLED is expected to Hold Major Share
- AMOLED screens offer various benefits such as good quality display, higher cost-effectiveness, more brightness and has a much faster response time as compared to the traditional LCDs and all these benefits coupled with the screen, not requiring backlighting which saves an enormous amount of battery life is expected to augment more smartwatches adopting AMOLED screens instead of others in the region.
- In September 2019, Apple launched its Watch Series 5, which is the first of Apple’s smartwatches to come with an always-on display, so there is no need to lift the wrist to see the time. Apple achieved this by following a particular type of screen circuitry technology with low-temperature polycrystalline silicon (LTPS), the power-efficient tech found in many top-end OLED phone backplanes (including iPhones), which essentially controls whether a pixel is on or off.
- Amazfit X is the latest wearable from the Xiaomi-backed brand called Huami. Launched via crowdfunding platform Indiegogo, the Amazfit X has a curved display that is claimed to provide a more comfortable fit on the wrist. Notably, the Amazfit X lacks any physical buttons and relies solely on gestures performed on the AMOLED screen and the pressure-sensitive side to navigate the user-interface. Huami offers the shipping for the Amazfit X in the middle east region with an estimated shipping target of August 2020.
- In particular, the smartwatch market is witnessing the increasing adoption of AMOLED due to its various benefits. For instance, in February 2020, a smartwatch was launched called the YHE BP Doctor that can measure blood pressure, along with oxygen saturation levels and heart rate variability. All this functionality should make it capable of providing valuable information about one’s health. The YHE BP Doctor has a 1.4-inch AMOLED touchscreen, which has a 320 x 360 native resolution.
The Middle East and Africa Smart Watch market is quite competitive. Various international brands tend to keep launching new products, offering advanced technologies to gain a foothold in the region. However, in terms of market share, players such as Apple and Samsung occupy a significant portion, and players such as Huawei continue to disrupt the market share of Apple and Samsung in the region.
- February 2020 – HONOR announced the launch of a brand-new smartwatch, the HONOR MagicWatch 2 in the UAE and Saudi Arabia. Equipped with the HUAWEI TruSleep2.0, HUAWEI TruRelax, and HUAWEI TruSeen 3.5, the HONOR MagicWatch 2 can be users wellness advisor to help live healthier and enhance the quality of life and comes with breakthrough battery performance up to 14 days, intelligent fitness and health monitoring technologies.
- October 2019 – Huawei Tech Investment Saudi Arabia Co. Ltd. launched the HUAWEI WATCH GT 2 during an exclusive launch event that took place in Riyadh. HUAWEI WATCH GT 2, is the company’s next-generation smartwatch, powered by the firm’s proprietary Kirin A1 chip, offering an upgraded user experience and battery life of 14 days. It also provides new wellness features that allow for hassle-free monitoring of the user’s heart rate, daily sleep, and other attributes.
- Apple Inc.
- Samsung Electronics Co. Ltd
- Garmin Ltd.
- Fitbit Inc. (Google, Inc.)
- Huawei Technologies Co. Ltd
- Sonly Middle East & Africa (Sony Corporation)
- Lenovo Group Limited
- Amazfit (Huami Corporation)
- LG Electronics Inc.
- Fossil Group, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/xiur6f
View source version on businesswire.com: https://www.businesswire.com/news/home/20200911005181/en/
JPMorgan creates new team to trade shares of pre-IPO giants including SpaceX, Robinhood and Airbnb
JPMorgan Chase thinks it’s found the next hot market for investors: Taking stakes in giant, pre-IPO start-ups from SpaceX to Airbnb.
The investment bank is launching a new team to connect sellers and buyers in the burgeoning market for private company shares, according to Chris Berthe, JPMorgan’s global co-head of cash equities trading. He’s lured Andrew Tuthill, a senior VP from trading platform Forge Global, to head up the new team.
“Many of our clients are looking at this as the next frontier,” Berthe said. “What do you do when markets get so high? You’re going to keep looking at value down the chain, and maybe that means getting involved in companies at earlier stages of their lifecycle.”
More than a decade ago, it was much more common for companies to go public earlier in their development, allowing investors to participate in the rise of winners like Amazon and Google. Then plentiful venture capital funding allowed companies to stay private for years longer, leading to a proliferation of unicorn start-ups. There are now 493 unicorns worth more than $1.5 trillion, according to CB Insights.
But that rise has meant that more investors have been shut out of lucrative gains. Case in point: Shares of Uber still trade below the company’s IPO price from more than a year ago, while Uber’s early stage VC investors have made billions.
That caused institutional investors including hedge funds to ask JPMorgan to source stock in private companies, including the Elon Musk-led SpaceX, Airbnb, Robinhood, Palantir and even TikTok, Berthe said. Tiktok is embroiled in an international controversy over the Trump administration’s demand that it sell its U.S. operations to an American company.
Andrew Tuthill, head of JPMorgan equity private market liquidity (L), and Chris Berthe, global co head of cash equities trading (R).
Source: JP Morgan
At the same time, JPMorgan is seeing more demand from company founders, venture capital funds and wealth management clients to sell their stakes in private companies, he said.
The market for trading private company stock is dominated mostly by boutique brokerages based on the West Coast with names like EquityZen, SharesPost and Forge.
Berthe said he believes that New York-based JPMorgan is the first major Wall Street bank to create a team dedicated to trading private shares. People with knowledge of the operations of Goldman Sachs and Morgan Stanley said that while the firms don’t have dedicated teams, they have been facilitating trades in this market for years. In particular, Morgan Stanley last year acquired Solium, a leading manager of corporate stock plans, giving it access to a wide swath of start-up equity.
Unlike shares in public companies like Microsoft, trading in private company stock is complicated and still mostly the domain of old -school voice trading, versus electronic exchanges that close transactions in seconds. Once a trade is negotiated, JPMorgan has to transfer legal ownership of contracts and get clearance from the start-up, a process that can take weeks.
“The shares are not listed, so whenever an investor buys into those companies, there’s different share classes,” Berthe said. Further complicating matters is that “companies very often include a right-of-first-refusal clause and they can block a transaction between a buyer and a seller for various reasons, generally because of price or because they might have concerns with the buyer.”
Tuthill is tasked with connecting buyers and sellers from across JPMorgan, including investment banking clients, wealth management and trading teams, which should create a deeper market for the asset class.
“Companies are staying private for longer and that dynamic doesn’t look like its changing anytime soon,” Berthe said. “The more the market rallies, the more people are going to want to look at alternatives.”
Author: Hugh Son
Stock Market Crash: Big Tech Stocks Lose Their Bravado, What Is Next?
Stock exchange market display screen board on the street showing stock market crash sell-off in red … [+] colour
Investors wonder if the tech heavyweight index can hold on to its gains, and if not, then the bubble must have burst. This means the U.S. stock market is about to face a difficult time.
The term stock market mostly refers to the S&P 500 index. The S&P 500 isn’t the accurate representation of the whole U.S. stock market; it characterizes the largest 500 American stocks. Thus, when one hears the word “stock market” in the media, the reference is towards the S&P 500 index’s performance.
The U.S. stock market has gone through topsy-turvy trading sessions this week. The Dow Jones Industrial Average is firmly in the red for this year; it is down 3.52%. The Nasdaq Composite is down nearly 10% from its all-time high but still holding on to gains for this year. It is up almost 27% year-to-date (YTD).
The below chart best describes the S&P 500 index’s price action. The S&P 500’s price chart shows that the index has erased its gains for the last few days. However, the S&P 500 is positive this year, and it is up by 3.36%.
The S&P 500 chart shows that the index has erased all of its gains since Tuesday
The question on most traders’ lips is whether the big guy on the street has become a wimp, meaning the Nasdaq Composite index lost its mojo. One thing is for sure: the current selloff, and a possible stock market crash, is being led by the tech sector.
My view of the U.S. stock market is that we need the support of those who have been propping this stock market higher. If these tech investors begin to fold, this stock market will crash like there is no tomorrow.
Importantly, this week, we had some serious technical levels tested for the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average. The technical price level that I am referring to is highly regarded among institutional investors and the smart money, and that is the 50-day simple moving average.
All of the three indices have tested this moving average on a daily time frame and Nasdaq traded briefly below this moving average. However, all the three indices bounced back up fairly quickly from their 50-day SMA, suggesting bargain hunters stepping in.
The chart showing the price for the Dow Jones Industrial Average, the S&P 500 index and the Nasdaq … [+] Composite. All the indices fell this week and tested their 50-day SMA
The reason that bears are smelling blood on the street is that these averages have started to roll over once again. All three U.S. indices are still trading above these averages, but their price action’s weakness doesn’t bond well with bulls.
The biggest indicator for this stock market crash is if the Nasdaq Composite index falls below the 50-day SMA, and it stays below this average. This will indicate that the Big Tech stocks have fallen out of love, and there is more pain for this coronavirus stock market rally on the way.
The mega-tech got bashed this week, and the reality is that there could be more of this in the pipeline. Going into next week, both traders and investors are going to keep a close eye on two things. Firstly, the Nasdaq Composite’s price action will assess if life is coming back to the mega-tech stocks. Finally, the Federal Reserve’s monetary policy stance and its unwavering support for the U.S. economy are crucial for the stock market.
Author: Naeem Aslam