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Cassmeow
2022-02-02
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AT&T Is Getting Closer to a Clean Slate. Here’s What Comes Next
Cassmeow
2021-08-09
sick
Five Things You Need to Know to Start Your Day
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Here’s What Comes Next","url":"https://stock-news.laohu8.com/highlight/detail?id=1100073306","media":"Barron's","summary":"After a saga of misguided M&A, there’s still work to be done for AT&T. Patrick T. Fallon/AFP via Get","content":"<html><head></head><body><p>After a saga of misguided M&A, there’s still work to be done for AT&T. Patrick T. Fallon/AFP via Getty Images</p><p>AT&T shed some light on its pending exit from the media business on Tuesday, elaborating on the mechanics of this year’s mega-transaction to spin off WarnerMedia and merge it with Discovery. It’s one more step toward putting a saga of misguided M&A behind it, but there’s still work to be done.</p><p>AT&T (ticker: T) spent much of the past decade bulking up and dishing out billions of dollars on several acquisitions. The biggest were a $66 billion deal for DirecTV, which closed in July 2015, and the $106 billion acquisition of Time Warner, which closed in June 2018. That brought the 145-year-old phone business into new and more cyclical industries, and at one point made it the most-indebted company in the U.S.</p><p>Since the start of 2021 and under a new CEO, John Stankey, AT&T has been slimming down. A spinoff of DirecTV and the company’s other pay-TV operations was announced and completed last year. Its Xandr advertising platform is being sold to Microsoft ( MSFT ). And the spinoff of WarnerMedia should close in the second quarter of this year, per management.</p><p>It will leave AT&T with a telecom-only portfolio of businesses focused on 5G wireless and fiber-optic broadband. Those are high fixed-cost businesses, but also bring attractive economies of scale and recurring revenue from subscribers.</p><p>Shedding its conglomerate structure won’t make the challenges AT&T faces in its telecom businesses go away, but it will allow management to focus time and resources on solving them. Competitive dynamics in both wired and wireless communications appear to be getting more intense, especially as industry subscriber growth slows following a pandemic-era boost. And AT&T requires tens of billions of dollars in capital expenditures to improve its 5G and fiber networks.</p><p>AT&T plans to expand its 5G C-band network to 200 million people in the U.S. by the end of 2023, and wants to reach 30 million homes and businesses with its fiber network by the end of 2025.</p><p>AT&T will have more financial firepower to throw at those goals. Management expects $20 billion of annual free cash flow from the post-WarnerMedia telecom company, with 40% of that, or $8 billion, going toward its dividend. That compares with a $15 billion annual dividend commitment prior to the spinoff. The new payout will be some $1.11 per share annually, or a 6.3% yield at current prices (adjusting for the roughly $6.70 a share in Warner Bros. Discovery stock that AT&T holders will receive). It matches the projections that AT&T gave when announcing the transaction in May 2021.</p><p>AT&T management expects to spend around $24 billion on capital investments in 2022. And the company will get an estimated $43 billion via the WarnerMedia transaction to put toward paying down debt. Management expects to get net debt to adjusted earnings before interest, taxes, depreciation, and amortization—or Ebitda—down to 2.5 times by the end of 2023. That compares with about 3.2 times today.</p><p>The result should be a leaner, meaner AT&T that’s better equipped to face its challenges, but investors will want to see proof after feeling burned by years of management decisions that look poor in hindsight. Next up is a virtual investor day on March 11 focused on the post-WarnerMedia telecom business, which could include new long-term targets and plans.</p><p>The closing of the transaction itself should also bring some relief. Investors interested in Warner Bros. Discovery can shift to that stock, and those who want a yield-generating telecom stock can double down on AT&T. Most of all, it will allow Wall Street to focus on AT&T’s fundamentals and judge management on operations—and put an end to years of distracting and expensive M&A sagas.</p></body></html>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AT&T Is Getting Closer to a Clean Slate. 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Here’s What Comes Next\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-02-02 08:36 GMT+8 <a href=https://www.barrons.com/articles/att-media-spin-51643742609?mod=hp_LEAD_1><strong>Barron's</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>After a saga of misguided M&A, there’s still work to be done for AT&T. Patrick T. Fallon/AFP via Getty ImagesAT&T shed some light on its pending exit from the media business on Tuesday, elaborating on...</p>\n\n<a href=\"https://www.barrons.com/articles/att-media-spin-51643742609?mod=hp_LEAD_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"T":"美国电话电报"},"source_url":"https://www.barrons.com/articles/att-media-spin-51643742609?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1100073306","content_text":"After a saga of misguided M&A, there’s still work to be done for AT&T. Patrick T. Fallon/AFP via Getty ImagesAT&T shed some light on its pending exit from the media business on Tuesday, elaborating on the mechanics of this year’s mega-transaction to spin off WarnerMedia and merge it with Discovery. It’s one more step toward putting a saga of misguided M&A behind it, but there’s still work to be done.AT&T (ticker: T) spent much of the past decade bulking up and dishing out billions of dollars on several acquisitions. The biggest were a $66 billion deal for DirecTV, which closed in July 2015, and the $106 billion acquisition of Time Warner, which closed in June 2018. That brought the 145-year-old phone business into new and more cyclical industries, and at one point made it the most-indebted company in the U.S.Since the start of 2021 and under a new CEO, John Stankey, AT&T has been slimming down. A spinoff of DirecTV and the company’s other pay-TV operations was announced and completed last year. Its Xandr advertising platform is being sold to Microsoft ( MSFT ). And the spinoff of WarnerMedia should close in the second quarter of this year, per management.It will leave AT&T with a telecom-only portfolio of businesses focused on 5G wireless and fiber-optic broadband. Those are high fixed-cost businesses, but also bring attractive economies of scale and recurring revenue from subscribers.Shedding its conglomerate structure won’t make the challenges AT&T faces in its telecom businesses go away, but it will allow management to focus time and resources on solving them. Competitive dynamics in both wired and wireless communications appear to be getting more intense, especially as industry subscriber growth slows following a pandemic-era boost. And AT&T requires tens of billions of dollars in capital expenditures to improve its 5G and fiber networks.AT&T plans to expand its 5G C-band network to 200 million people in the U.S. by the end of 2023, and wants to reach 30 million homes and businesses with its fiber network by the end of 2025.AT&T will have more financial firepower to throw at those goals. Management expects $20 billion of annual free cash flow from the post-WarnerMedia telecom company, with 40% of that, or $8 billion, going toward its dividend. That compares with a $15 billion annual dividend commitment prior to the spinoff. The new payout will be some $1.11 per share annually, or a 6.3% yield at current prices (adjusting for the roughly $6.70 a share in Warner Bros. Discovery stock that AT&T holders will receive). It matches the projections that AT&T gave when announcing the transaction in May 2021.AT&T management expects to spend around $24 billion on capital investments in 2022. And the company will get an estimated $43 billion via the WarnerMedia transaction to put toward paying down debt. Management expects to get net debt to adjusted earnings before interest, taxes, depreciation, and amortization—or Ebitda—down to 2.5 times by the end of 2023. That compares with about 3.2 times today.The result should be a leaner, meaner AT&T that’s better equipped to face its challenges, but investors will want to see proof after feeling burned by years of management decisions that look poor in hindsight. Next up is a virtual investor day on March 11 focused on the post-WarnerMedia telecom business, which could include new long-term targets and plans.The closing of the transaction itself should also bring some relief. Investors interested in Warner Bros. Discovery can shift to that stock, and those who want a yield-generating telecom stock can double down on AT&T. Most of all, it will allow Wall Street to focus on AT&T’s fundamentals and judge management on operations—and put an end to years of distracting and expensive M&A sagas.","news_type":1},"isVote":1,"tweetType":1,"viewCount":622,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":898104345,"gmtCreate":1628476240587,"gmtModify":1703506668833,"author":{"id":"4091282680222040","authorId":"4091282680222040","name":"Cassmeow","avatar":"https://static.tigerbbs.com/b9ec45edc7cde6a5bfa5fa16f332b92b","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091282680222040","authorIdStr":"4091282680222040"},"themes":[],"htmlText":"sick","listText":"sick","text":"sick","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/898104345","repostId":"1143883880","repostType":4,"repost":{"id":"1143883880","pubTimestamp":1628472469,"share":"https://ttm.financial/m/news/1143883880?lang=&edition=fundamental","pubTime":"2021-08-09 09:27","market":"hk","language":"en","title":"Five Things You Need to Know to Start Your Day","url":"https://stock-news.laohu8.com/highlight/detail?id=1143883880","media":"Bloomberg","summary":"The U.S Senate debate over the $550 billion infrastructure package drags on. Singapore plans to chan","content":"<p>The U.S Senate debate over the $550 billion infrastructure package drags on. Singapore plans to change its foreign worker policies. ByteDance revives a plan to list in Hong Kong. Here’s what you need to know this Monday morning.</p>\n<p>Debate Drags</p>\n<p>A slow-going U.S. Senate debate over a broad $550 billion infrastructure package could go on for days yet, with lawmakersunable to agreeon which final changes to consider. Amendments still on the table include proposals fornew cryptocurrency rulesand flexibility for states and localities that choose to use some unspent pandemic relief funds for roads and bridges. The Senate did edge the infrastructure legislation past one of itsfinal procedural hurdleson a 67-27 vote on Saturday, an indicator of the bill’s bipartisan support. But agreement on a last batch of amendments was elusive.</p>\n<p>Steady Stocks</p>\n<p>Asian stocks areset to start the week steadyafter a better-than-expected increase in U.S. payrolls fueled expectations that the Federal Reserve is moving closer to a pullback of stimulus. Futures rose in Australia, but they fell in Hong Kong earlier. Japan markets are closed for a holiday. On Friday, the S&P 500 climbed to a record, led by financials and materials, while the technology-heavy Nasdaq 100 fell. The U.S. 10-year Treasury yield climbed to 1.3% and the dollar strengthened against major peers. Cash Treasuries won’t trade in Asia because of the holiday in Tokyo.</p>\n<p><b>Finding Opportunity in AgTech and Food Innovation</b></p>\n<p>Our diverse food ecosystem is increasingly supported by new innovations and agricultural technologies (AgTech). Explore why we believethis space could be primed for growth, possibly spurred by the drive to address global food insecurity and minimize the adverse impacts of large-scale agriculture.</p>\n<p>Backing Boosters</p>\n<p>As U.S. Covid caseshit a six-month high, Anthony Fauci, the U.S.’s top infectious-disease doctor, said he was “strongly in favor” of speedingbooster shotsto people with weakened immune systems. In Israel, thefirst nation to roll out boosterswidely, more than half a million people aged 60 and over were due to have had their third injection by the end of Sunday. Elsewhere, Wuhan completed mass Covid testingof local residents after new local cases were reported; thestrict lockdownin the Philippines may be costing 150 billion pesos ($2.98 billion) a week; delta cases worsened across Australia’s biggest cities and the nation has barred non-resident citizens who enter the countryfrom leaving again; and Indonesian President Joko Widodoordered law enforcement officials on the nation’s outer islands to take immediate action to stem virus cases.</p>\n<p>Foreign Workers</p>\n<p>Singapore willrecalibrate its foreign worker policiesto balance between remaining accepting of those from overseas, and addressing the economic andsocial concerns of its citizens, Prime Minister Lee Hsien Loong said. The government is aware anxieties over the foreign worker population have worsened because of uncertainties caused by the Covid-19 pandemic, and authorities are addressing them, Lee said in a televised message on the eve of the country’s 56th National Day. Other tough issues that have come to the fore during this period and which need to be dealt with are support for low-wage workers and the challenge of maintaining racial harmony, he said.</p>\n<p>Listing Plan</p>\n<p>TikTok owner ByteDance isreviving plans to listin Hong Kong, next quarter or in early 2022, even as Chinese authoritieswiden their crackdownon the country’s technology companies. Meanwhile, the world-beating rally in China’s sovereign bonds fueled by policy easing bets may have some ways to go, but inflation data this week could provide areason to slow the bullish momentum. And China called on the U.S. to respect Chinese sovereignty andstop interfering in Hong Kongaffairs, in a response to President Joe Biden’s move to offer some Hong Kong residents temporary safe haven.</p>\n<p>What We’ve Been Reading</p>\n<p><i>This is what’s caught our eye over the past 24 hours:</i></p>\n<ul>\n <li>Who won big at the Tokyo Olympics.</li>\n <li>Alibaba to fire manager accused ofsexual assault.</li>\n <li>Saudi Armaco follows big oil rivals withprofit surge.</li>\n <li>Return to the office five days a week?How about never.</li>\n <li>Meat made in a lab hastwo major obstaclesto overcome.</li>\n</ul>\n<p><b>And finally, here’s what Tracy’s interested in today</b></p>\n<p>Ablow-out jobs reportfinally succeeded in shocking U.S. bond yields into life, with the benchmark 10-year Treasury jumping above 1.3% after reaching as low as 1.12% earlier in the week. The addition of 943,000 jobs in July — much more than the 870,000 expected — means we're ostensibly getting closer to the Federal Reserve's goal of “substantial” further progress in the job market.</p>\n<p>So it's no surprise that the conversation about just how the U.S. central bank might react to lower rates of unemployment and higher rates of inflation is kicking into high gear. Will the central bank start tapering its asset purchases and raising rates? There's sometimes an implication that the two things must happen in conjunction with each other, or at least one must be followed relatively quickly by the other.</p>\n<p><img src=\"https://static.tigerbbs.com/9f51e85cfa11df4fa5fe0f4072a914b1\" tg-width=\"800\" tg-height=\"450\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p>But in thenew episode of the Odd Lots podcast, the Fed's Robert Kaplan emphasizes that's not necessarily the case. Tapering could help take some of the pressure off the need to raise raise interest rates in the future, according to the Dallas Fed president. “Adjusting these purchases sooner might actually allow us to be more patient on the Fed funds rate down the road,” he says. It's a nice reminder that tightening monetary policy doesn't have to be a monolithic or even linear activity. The whole podcast is well worth a listen.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Five Things You Need to Know to Start Your Day</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFive Things You Need to Know to Start Your Day\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-09 09:27 GMT+8 <a href=https://www.bloomberg.com/news/newsletters/2021-08-08/five-things-you-need-to-know-to-start-your-day?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The U.S Senate debate over the $550 billion infrastructure package drags on. Singapore plans to change its foreign worker policies. ByteDance revives a plan to list in Hong Kong. Here’s what you need ...</p>\n\n<a href=\"https://www.bloomberg.com/news/newsletters/2021-08-08/five-things-you-need-to-know-to-start-your-day?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.bloomberg.com/news/newsletters/2021-08-08/five-things-you-need-to-know-to-start-your-day?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1143883880","content_text":"The U.S Senate debate over the $550 billion infrastructure package drags on. Singapore plans to change its foreign worker policies. ByteDance revives a plan to list in Hong Kong. Here’s what you need to know this Monday morning.\nDebate Drags\nA slow-going U.S. Senate debate over a broad $550 billion infrastructure package could go on for days yet, with lawmakersunable to agreeon which final changes to consider. Amendments still on the table include proposals fornew cryptocurrency rulesand flexibility for states and localities that choose to use some unspent pandemic relief funds for roads and bridges. The Senate did edge the infrastructure legislation past one of itsfinal procedural hurdleson a 67-27 vote on Saturday, an indicator of the bill’s bipartisan support. But agreement on a last batch of amendments was elusive.\nSteady Stocks\nAsian stocks areset to start the week steadyafter a better-than-expected increase in U.S. payrolls fueled expectations that the Federal Reserve is moving closer to a pullback of stimulus. Futures rose in Australia, but they fell in Hong Kong earlier. Japan markets are closed for a holiday. On Friday, the S&P 500 climbed to a record, led by financials and materials, while the technology-heavy Nasdaq 100 fell. The U.S. 10-year Treasury yield climbed to 1.3% and the dollar strengthened against major peers. Cash Treasuries won’t trade in Asia because of the holiday in Tokyo.\nFinding Opportunity in AgTech and Food Innovation\nOur diverse food ecosystem is increasingly supported by new innovations and agricultural technologies (AgTech). Explore why we believethis space could be primed for growth, possibly spurred by the drive to address global food insecurity and minimize the adverse impacts of large-scale agriculture.\nBacking Boosters\nAs U.S. Covid caseshit a six-month high, Anthony Fauci, the U.S.’s top infectious-disease doctor, said he was “strongly in favor” of speedingbooster shotsto people with weakened immune systems. In Israel, thefirst nation to roll out boosterswidely, more than half a million people aged 60 and over were due to have had their third injection by the end of Sunday. Elsewhere, Wuhan completed mass Covid testingof local residents after new local cases were reported; thestrict lockdownin the Philippines may be costing 150 billion pesos ($2.98 billion) a week; delta cases worsened across Australia’s biggest cities and the nation has barred non-resident citizens who enter the countryfrom leaving again; and Indonesian President Joko Widodoordered law enforcement officials on the nation’s outer islands to take immediate action to stem virus cases.\nForeign Workers\nSingapore willrecalibrate its foreign worker policiesto balance between remaining accepting of those from overseas, and addressing the economic andsocial concerns of its citizens, Prime Minister Lee Hsien Loong said. The government is aware anxieties over the foreign worker population have worsened because of uncertainties caused by the Covid-19 pandemic, and authorities are addressing them, Lee said in a televised message on the eve of the country’s 56th National Day. Other tough issues that have come to the fore during this period and which need to be dealt with are support for low-wage workers and the challenge of maintaining racial harmony, he said.\nListing Plan\nTikTok owner ByteDance isreviving plans to listin Hong Kong, next quarter or in early 2022, even as Chinese authoritieswiden their crackdownon the country’s technology companies. Meanwhile, the world-beating rally in China’s sovereign bonds fueled by policy easing bets may have some ways to go, but inflation data this week could provide areason to slow the bullish momentum. And China called on the U.S. to respect Chinese sovereignty andstop interfering in Hong Kongaffairs, in a response to President Joe Biden’s move to offer some Hong Kong residents temporary safe haven.\nWhat We’ve Been Reading\nThis is what’s caught our eye over the past 24 hours:\n\nWho won big at the Tokyo Olympics.\nAlibaba to fire manager accused ofsexual assault.\nSaudi Armaco follows big oil rivals withprofit surge.\nReturn to the office five days a week?How about never.\nMeat made in a lab hastwo major obstaclesto overcome.\n\nAnd finally, here’s what Tracy’s interested in today\nAblow-out jobs reportfinally succeeded in shocking U.S. bond yields into life, with the benchmark 10-year Treasury jumping above 1.3% after reaching as low as 1.12% earlier in the week. The addition of 943,000 jobs in July — much more than the 870,000 expected — means we're ostensibly getting closer to the Federal Reserve's goal of “substantial” further progress in the job market.\nSo it's no surprise that the conversation about just how the U.S. central bank might react to lower rates of unemployment and higher rates of inflation is kicking into high gear. Will the central bank start tapering its asset purchases and raising rates? There's sometimes an implication that the two things must happen in conjunction with each other, or at least one must be followed relatively quickly by the other.\n\nBut in thenew episode of the Odd Lots podcast, the Fed's Robert Kaplan emphasizes that's not necessarily the case. Tapering could help take some of the pressure off the need to raise raise interest rates in the future, according to the Dallas Fed president. “Adjusting these purchases sooner might actually allow us to be more patient on the Fed funds rate down the road,” he says. It's a nice reminder that tightening monetary policy doesn't have to be a monolithic or even linear activity. The whole podcast is well worth a listen.","news_type":1},"isVote":1,"tweetType":1,"viewCount":668,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":9091960068,"gmtCreate":1643764563700,"gmtModify":1676533852697,"author":{"id":"4091282680222040","authorId":"4091282680222040","name":"Cassmeow","avatar":"https://static.tigerbbs.com/b9ec45edc7cde6a5bfa5fa16f332b92b","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091282680222040","authorIdStr":"4091282680222040"},"themes":[],"htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9091960068","repostId":"1100073306","repostType":4,"repost":{"id":"1100073306","pubTimestamp":1643762185,"share":"https://ttm.financial/m/news/1100073306?lang=&edition=fundamental","pubTime":"2022-02-02 08:36","market":"us","language":"en","title":"AT&T Is Getting Closer to a Clean Slate. Here’s What Comes Next","url":"https://stock-news.laohu8.com/highlight/detail?id=1100073306","media":"Barron's","summary":"After a saga of misguided M&A, there’s still work to be done for AT&T. Patrick T. Fallon/AFP via Get","content":"<html><head></head><body><p>After a saga of misguided M&A, there’s still work to be done for AT&T. Patrick T. Fallon/AFP via Getty Images</p><p>AT&T shed some light on its pending exit from the media business on Tuesday, elaborating on the mechanics of this year’s mega-transaction to spin off WarnerMedia and merge it with Discovery. It’s one more step toward putting a saga of misguided M&A behind it, but there’s still work to be done.</p><p>AT&T (ticker: T) spent much of the past decade bulking up and dishing out billions of dollars on several acquisitions. The biggest were a $66 billion deal for DirecTV, which closed in July 2015, and the $106 billion acquisition of Time Warner, which closed in June 2018. That brought the 145-year-old phone business into new and more cyclical industries, and at one point made it the most-indebted company in the U.S.</p><p>Since the start of 2021 and under a new CEO, John Stankey, AT&T has been slimming down. A spinoff of DirecTV and the company’s other pay-TV operations was announced and completed last year. Its Xandr advertising platform is being sold to Microsoft ( MSFT ). And the spinoff of WarnerMedia should close in the second quarter of this year, per management.</p><p>It will leave AT&T with a telecom-only portfolio of businesses focused on 5G wireless and fiber-optic broadband. Those are high fixed-cost businesses, but also bring attractive economies of scale and recurring revenue from subscribers.</p><p>Shedding its conglomerate structure won’t make the challenges AT&T faces in its telecom businesses go away, but it will allow management to focus time and resources on solving them. Competitive dynamics in both wired and wireless communications appear to be getting more intense, especially as industry subscriber growth slows following a pandemic-era boost. And AT&T requires tens of billions of dollars in capital expenditures to improve its 5G and fiber networks.</p><p>AT&T plans to expand its 5G C-band network to 200 million people in the U.S. by the end of 2023, and wants to reach 30 million homes and businesses with its fiber network by the end of 2025.</p><p>AT&T will have more financial firepower to throw at those goals. Management expects $20 billion of annual free cash flow from the post-WarnerMedia telecom company, with 40% of that, or $8 billion, going toward its dividend. That compares with a $15 billion annual dividend commitment prior to the spinoff. The new payout will be some $1.11 per share annually, or a 6.3% yield at current prices (adjusting for the roughly $6.70 a share in Warner Bros. Discovery stock that AT&T holders will receive). It matches the projections that AT&T gave when announcing the transaction in May 2021.</p><p>AT&T management expects to spend around $24 billion on capital investments in 2022. And the company will get an estimated $43 billion via the WarnerMedia transaction to put toward paying down debt. Management expects to get net debt to adjusted earnings before interest, taxes, depreciation, and amortization—or Ebitda—down to 2.5 times by the end of 2023. That compares with about 3.2 times today.</p><p>The result should be a leaner, meaner AT&T that’s better equipped to face its challenges, but investors will want to see proof after feeling burned by years of management decisions that look poor in hindsight. Next up is a virtual investor day on March 11 focused on the post-WarnerMedia telecom business, which could include new long-term targets and plans.</p><p>The closing of the transaction itself should also bring some relief. Investors interested in Warner Bros. Discovery can shift to that stock, and those who want a yield-generating telecom stock can double down on AT&T. Most of all, it will allow Wall Street to focus on AT&T’s fundamentals and judge management on operations—and put an end to years of distracting and expensive M&A sagas.</p></body></html>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AT&T Is Getting Closer to a Clean Slate. Here’s What Comes Next</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAT&T Is Getting Closer to a Clean Slate. Here’s What Comes Next\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-02-02 08:36 GMT+8 <a href=https://www.barrons.com/articles/att-media-spin-51643742609?mod=hp_LEAD_1><strong>Barron's</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>After a saga of misguided M&A, there’s still work to be done for AT&T. Patrick T. Fallon/AFP via Getty ImagesAT&T shed some light on its pending exit from the media business on Tuesday, elaborating on...</p>\n\n<a href=\"https://www.barrons.com/articles/att-media-spin-51643742609?mod=hp_LEAD_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"T":"美国电话电报"},"source_url":"https://www.barrons.com/articles/att-media-spin-51643742609?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1100073306","content_text":"After a saga of misguided M&A, there’s still work to be done for AT&T. Patrick T. Fallon/AFP via Getty ImagesAT&T shed some light on its pending exit from the media business on Tuesday, elaborating on the mechanics of this year’s mega-transaction to spin off WarnerMedia and merge it with Discovery. It’s one more step toward putting a saga of misguided M&A behind it, but there’s still work to be done.AT&T (ticker: T) spent much of the past decade bulking up and dishing out billions of dollars on several acquisitions. The biggest were a $66 billion deal for DirecTV, which closed in July 2015, and the $106 billion acquisition of Time Warner, which closed in June 2018. That brought the 145-year-old phone business into new and more cyclical industries, and at one point made it the most-indebted company in the U.S.Since the start of 2021 and under a new CEO, John Stankey, AT&T has been slimming down. A spinoff of DirecTV and the company’s other pay-TV operations was announced and completed last year. Its Xandr advertising platform is being sold to Microsoft ( MSFT ). And the spinoff of WarnerMedia should close in the second quarter of this year, per management.It will leave AT&T with a telecom-only portfolio of businesses focused on 5G wireless and fiber-optic broadband. Those are high fixed-cost businesses, but also bring attractive economies of scale and recurring revenue from subscribers.Shedding its conglomerate structure won’t make the challenges AT&T faces in its telecom businesses go away, but it will allow management to focus time and resources on solving them. Competitive dynamics in both wired and wireless communications appear to be getting more intense, especially as industry subscriber growth slows following a pandemic-era boost. And AT&T requires tens of billions of dollars in capital expenditures to improve its 5G and fiber networks.AT&T plans to expand its 5G C-band network to 200 million people in the U.S. by the end of 2023, and wants to reach 30 million homes and businesses with its fiber network by the end of 2025.AT&T will have more financial firepower to throw at those goals. Management expects $20 billion of annual free cash flow from the post-WarnerMedia telecom company, with 40% of that, or $8 billion, going toward its dividend. That compares with a $15 billion annual dividend commitment prior to the spinoff. The new payout will be some $1.11 per share annually, or a 6.3% yield at current prices (adjusting for the roughly $6.70 a share in Warner Bros. Discovery stock that AT&T holders will receive). It matches the projections that AT&T gave when announcing the transaction in May 2021.AT&T management expects to spend around $24 billion on capital investments in 2022. And the company will get an estimated $43 billion via the WarnerMedia transaction to put toward paying down debt. Management expects to get net debt to adjusted earnings before interest, taxes, depreciation, and amortization—or Ebitda—down to 2.5 times by the end of 2023. That compares with about 3.2 times today.The result should be a leaner, meaner AT&T that’s better equipped to face its challenges, but investors will want to see proof after feeling burned by years of management decisions that look poor in hindsight. Next up is a virtual investor day on March 11 focused on the post-WarnerMedia telecom business, which could include new long-term targets and plans.The closing of the transaction itself should also bring some relief. Investors interested in Warner Bros. Discovery can shift to that stock, and those who want a yield-generating telecom stock can double down on AT&T. Most of all, it will allow Wall Street to focus on AT&T’s fundamentals and judge management on operations—and put an end to years of distracting and expensive M&A sagas.","news_type":1},"isVote":1,"tweetType":1,"viewCount":622,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":898104345,"gmtCreate":1628476240587,"gmtModify":1703506668833,"author":{"id":"4091282680222040","authorId":"4091282680222040","name":"Cassmeow","avatar":"https://static.tigerbbs.com/b9ec45edc7cde6a5bfa5fa16f332b92b","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091282680222040","authorIdStr":"4091282680222040"},"themes":[],"htmlText":"sick","listText":"sick","text":"sick","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/898104345","repostId":"1143883880","repostType":4,"repost":{"id":"1143883880","pubTimestamp":1628472469,"share":"https://ttm.financial/m/news/1143883880?lang=&edition=fundamental","pubTime":"2021-08-09 09:27","market":"hk","language":"en","title":"Five Things You Need to Know to Start Your Day","url":"https://stock-news.laohu8.com/highlight/detail?id=1143883880","media":"Bloomberg","summary":"The U.S Senate debate over the $550 billion infrastructure package drags on. Singapore plans to chan","content":"<p>The U.S Senate debate over the $550 billion infrastructure package drags on. Singapore plans to change its foreign worker policies. ByteDance revives a plan to list in Hong Kong. Here’s what you need to know this Monday morning.</p>\n<p>Debate Drags</p>\n<p>A slow-going U.S. Senate debate over a broad $550 billion infrastructure package could go on for days yet, with lawmakersunable to agreeon which final changes to consider. Amendments still on the table include proposals fornew cryptocurrency rulesand flexibility for states and localities that choose to use some unspent pandemic relief funds for roads and bridges. The Senate did edge the infrastructure legislation past one of itsfinal procedural hurdleson a 67-27 vote on Saturday, an indicator of the bill’s bipartisan support. But agreement on a last batch of amendments was elusive.</p>\n<p>Steady Stocks</p>\n<p>Asian stocks areset to start the week steadyafter a better-than-expected increase in U.S. payrolls fueled expectations that the Federal Reserve is moving closer to a pullback of stimulus. Futures rose in Australia, but they fell in Hong Kong earlier. Japan markets are closed for a holiday. On Friday, the S&P 500 climbed to a record, led by financials and materials, while the technology-heavy Nasdaq 100 fell. The U.S. 10-year Treasury yield climbed to 1.3% and the dollar strengthened against major peers. Cash Treasuries won’t trade in Asia because of the holiday in Tokyo.</p>\n<p><b>Finding Opportunity in AgTech and Food Innovation</b></p>\n<p>Our diverse food ecosystem is increasingly supported by new innovations and agricultural technologies (AgTech). Explore why we believethis space could be primed for growth, possibly spurred by the drive to address global food insecurity and minimize the adverse impacts of large-scale agriculture.</p>\n<p>Backing Boosters</p>\n<p>As U.S. Covid caseshit a six-month high, Anthony Fauci, the U.S.’s top infectious-disease doctor, said he was “strongly in favor” of speedingbooster shotsto people with weakened immune systems. In Israel, thefirst nation to roll out boosterswidely, more than half a million people aged 60 and over were due to have had their third injection by the end of Sunday. Elsewhere, Wuhan completed mass Covid testingof local residents after new local cases were reported; thestrict lockdownin the Philippines may be costing 150 billion pesos ($2.98 billion) a week; delta cases worsened across Australia’s biggest cities and the nation has barred non-resident citizens who enter the countryfrom leaving again; and Indonesian President Joko Widodoordered law enforcement officials on the nation’s outer islands to take immediate action to stem virus cases.</p>\n<p>Foreign Workers</p>\n<p>Singapore willrecalibrate its foreign worker policiesto balance between remaining accepting of those from overseas, and addressing the economic andsocial concerns of its citizens, Prime Minister Lee Hsien Loong said. The government is aware anxieties over the foreign worker population have worsened because of uncertainties caused by the Covid-19 pandemic, and authorities are addressing them, Lee said in a televised message on the eve of the country’s 56th National Day. Other tough issues that have come to the fore during this period and which need to be dealt with are support for low-wage workers and the challenge of maintaining racial harmony, he said.</p>\n<p>Listing Plan</p>\n<p>TikTok owner ByteDance isreviving plans to listin Hong Kong, next quarter or in early 2022, even as Chinese authoritieswiden their crackdownon the country’s technology companies. Meanwhile, the world-beating rally in China’s sovereign bonds fueled by policy easing bets may have some ways to go, but inflation data this week could provide areason to slow the bullish momentum. And China called on the U.S. to respect Chinese sovereignty andstop interfering in Hong Kongaffairs, in a response to President Joe Biden’s move to offer some Hong Kong residents temporary safe haven.</p>\n<p>What We’ve Been Reading</p>\n<p><i>This is what’s caught our eye over the past 24 hours:</i></p>\n<ul>\n <li>Who won big at the Tokyo Olympics.</li>\n <li>Alibaba to fire manager accused ofsexual assault.</li>\n <li>Saudi Armaco follows big oil rivals withprofit surge.</li>\n <li>Return to the office five days a week?How about never.</li>\n <li>Meat made in a lab hastwo major obstaclesto overcome.</li>\n</ul>\n<p><b>And finally, here’s what Tracy’s interested in today</b></p>\n<p>Ablow-out jobs reportfinally succeeded in shocking U.S. bond yields into life, with the benchmark 10-year Treasury jumping above 1.3% after reaching as low as 1.12% earlier in the week. The addition of 943,000 jobs in July — much more than the 870,000 expected — means we're ostensibly getting closer to the Federal Reserve's goal of “substantial” further progress in the job market.</p>\n<p>So it's no surprise that the conversation about just how the U.S. central bank might react to lower rates of unemployment and higher rates of inflation is kicking into high gear. Will the central bank start tapering its asset purchases and raising rates? There's sometimes an implication that the two things must happen in conjunction with each other, or at least one must be followed relatively quickly by the other.</p>\n<p><img src=\"https://static.tigerbbs.com/9f51e85cfa11df4fa5fe0f4072a914b1\" tg-width=\"800\" tg-height=\"450\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p>But in thenew episode of the Odd Lots podcast, the Fed's Robert Kaplan emphasizes that's not necessarily the case. Tapering could help take some of the pressure off the need to raise raise interest rates in the future, according to the Dallas Fed president. “Adjusting these purchases sooner might actually allow us to be more patient on the Fed funds rate down the road,” he says. It's a nice reminder that tightening monetary policy doesn't have to be a monolithic or even linear activity. The whole podcast is well worth a listen.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Five Things You Need to Know to Start Your Day</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFive Things You Need to Know to Start Your Day\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-09 09:27 GMT+8 <a href=https://www.bloomberg.com/news/newsletters/2021-08-08/five-things-you-need-to-know-to-start-your-day?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The U.S Senate debate over the $550 billion infrastructure package drags on. Singapore plans to change its foreign worker policies. ByteDance revives a plan to list in Hong Kong. Here’s what you need ...</p>\n\n<a href=\"https://www.bloomberg.com/news/newsletters/2021-08-08/five-things-you-need-to-know-to-start-your-day?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.bloomberg.com/news/newsletters/2021-08-08/five-things-you-need-to-know-to-start-your-day?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1143883880","content_text":"The U.S Senate debate over the $550 billion infrastructure package drags on. Singapore plans to change its foreign worker policies. ByteDance revives a plan to list in Hong Kong. Here’s what you need to know this Monday morning.\nDebate Drags\nA slow-going U.S. Senate debate over a broad $550 billion infrastructure package could go on for days yet, with lawmakersunable to agreeon which final changes to consider. Amendments still on the table include proposals fornew cryptocurrency rulesand flexibility for states and localities that choose to use some unspent pandemic relief funds for roads and bridges. The Senate did edge the infrastructure legislation past one of itsfinal procedural hurdleson a 67-27 vote on Saturday, an indicator of the bill’s bipartisan support. But agreement on a last batch of amendments was elusive.\nSteady Stocks\nAsian stocks areset to start the week steadyafter a better-than-expected increase in U.S. payrolls fueled expectations that the Federal Reserve is moving closer to a pullback of stimulus. Futures rose in Australia, but they fell in Hong Kong earlier. Japan markets are closed for a holiday. On Friday, the S&P 500 climbed to a record, led by financials and materials, while the technology-heavy Nasdaq 100 fell. The U.S. 10-year Treasury yield climbed to 1.3% and the dollar strengthened against major peers. Cash Treasuries won’t trade in Asia because of the holiday in Tokyo.\nFinding Opportunity in AgTech and Food Innovation\nOur diverse food ecosystem is increasingly supported by new innovations and agricultural technologies (AgTech). Explore why we believethis space could be primed for growth, possibly spurred by the drive to address global food insecurity and minimize the adverse impacts of large-scale agriculture.\nBacking Boosters\nAs U.S. Covid caseshit a six-month high, Anthony Fauci, the U.S.’s top infectious-disease doctor, said he was “strongly in favor” of speedingbooster shotsto people with weakened immune systems. In Israel, thefirst nation to roll out boosterswidely, more than half a million people aged 60 and over were due to have had their third injection by the end of Sunday. Elsewhere, Wuhan completed mass Covid testingof local residents after new local cases were reported; thestrict lockdownin the Philippines may be costing 150 billion pesos ($2.98 billion) a week; delta cases worsened across Australia’s biggest cities and the nation has barred non-resident citizens who enter the countryfrom leaving again; and Indonesian President Joko Widodoordered law enforcement officials on the nation’s outer islands to take immediate action to stem virus cases.\nForeign Workers\nSingapore willrecalibrate its foreign worker policiesto balance between remaining accepting of those from overseas, and addressing the economic andsocial concerns of its citizens, Prime Minister Lee Hsien Loong said. The government is aware anxieties over the foreign worker population have worsened because of uncertainties caused by the Covid-19 pandemic, and authorities are addressing them, Lee said in a televised message on the eve of the country’s 56th National Day. Other tough issues that have come to the fore during this period and which need to be dealt with are support for low-wage workers and the challenge of maintaining racial harmony, he said.\nListing Plan\nTikTok owner ByteDance isreviving plans to listin Hong Kong, next quarter or in early 2022, even as Chinese authoritieswiden their crackdownon the country’s technology companies. Meanwhile, the world-beating rally in China’s sovereign bonds fueled by policy easing bets may have some ways to go, but inflation data this week could provide areason to slow the bullish momentum. And China called on the U.S. to respect Chinese sovereignty andstop interfering in Hong Kongaffairs, in a response to President Joe Biden’s move to offer some Hong Kong residents temporary safe haven.\nWhat We’ve Been Reading\nThis is what’s caught our eye over the past 24 hours:\n\nWho won big at the Tokyo Olympics.\nAlibaba to fire manager accused ofsexual assault.\nSaudi Armaco follows big oil rivals withprofit surge.\nReturn to the office five days a week?How about never.\nMeat made in a lab hastwo major obstaclesto overcome.\n\nAnd finally, here’s what Tracy’s interested in today\nAblow-out jobs reportfinally succeeded in shocking U.S. bond yields into life, with the benchmark 10-year Treasury jumping above 1.3% after reaching as low as 1.12% earlier in the week. The addition of 943,000 jobs in July — much more than the 870,000 expected — means we're ostensibly getting closer to the Federal Reserve's goal of “substantial” further progress in the job market.\nSo it's no surprise that the conversation about just how the U.S. central bank might react to lower rates of unemployment and higher rates of inflation is kicking into high gear. Will the central bank start tapering its asset purchases and raising rates? There's sometimes an implication that the two things must happen in conjunction with each other, or at least one must be followed relatively quickly by the other.\n\nBut in thenew episode of the Odd Lots podcast, the Fed's Robert Kaplan emphasizes that's not necessarily the case. Tapering could help take some of the pressure off the need to raise raise interest rates in the future, according to the Dallas Fed president. “Adjusting these purchases sooner might actually allow us to be more patient on the Fed funds rate down the road,” he says. It's a nice reminder that tightening monetary policy doesn't have to be a monolithic or even linear activity. The whole podcast is well worth a listen.","news_type":1},"isVote":1,"tweetType":1,"viewCount":668,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}
