Author: Jimmy Aki

Based in the UK, Jimmy is an economic researcher with outstanding hands-on and heads-on experience in Macroeconomic finance analysis, forecasting and planning. He has honed his skills having worked cross-continental as a finance analyst, which gives him inter-cultural experience. He currently has a strong passion for regulation and macroeconomic trends as it allows him peek under the global bonnet to see how the world works. jimmy@moneycheck.com

The Federal Aviation Administration (FAA) has issued a vote of confidence in the 737 MAX 8 jet designed by Boeing Co. in the wake of the fatal crash in Ethiopia over the weekend. The crash, which involved one of the airliner’s 737 MAX 8 options, was the second of its kind in the last five months. Sunday’s crash in Ethiopia led to the death of all 157 individuals on board, including crew members. Boeing Has a Friend in the FAA In a statement titled The Continued Airworthiness Notification to the International Community released on March 11, the aviation regulator sounded…

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Ever since online retailers emerged, brick-and-mortar stores have struggled to stay relevant. It seems Amazon could be feeling the pressure as well. According to a March 6 report by the Wall Street Journal, the e-commerce giant will shut down its pop-up shops within the U.S, totaling 87 in number. The decision comes as executives review Amazon’s retail strategy and the profitability of selling goods in physical stores. Amazon announced the opening of its pop-up stores in the United States back in 2016, after the success of a pilot program in which just six stores were opened. The company found the pilot…

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If you thought that President Trump’s personal desire to destroy Chinese telecoms provider Huawei was messy when it started, brace up. It’s about to get messier. Per a report on the New York Times, the Chinese multinational giant is planning to sue the Trump administration in a bid to overturn a directive by the U.S government banning all federal agencies from using Huawei products. The suit hasn’t been announced yet, but the report claimed that it would be filed at a court in the Eastern District of Texas, the location of Huawei’s American headquarters. Washington’s Unrelenting Assault on Huawei The…

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Tesla is in advanced talks with Chinese lenders for a $2 billion loan needed to build its massive Gigafactory in Shanghai, according to reports from investment research firm JL Warren Capital published on CNBC. JL Warren is a New York-based research firm that focuses on American companies making significant investments in China. Per the reports, the Shanghai Pudong Development Bank, Industrial and Commercial Bank of China, China Construction Bank and Agricultural Bank of China are lined up in the list of expected backers for the financing of the Gigafactory. So far, Tesla is the only automaker who isn’t based in…

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On January 19, HSBC Holdings Plc., the largest banking institution in Europe by market value, released its financial report for the last quarter in 2018. The banking giant revealed that profits fell below industry expectations, as the bank’s operations were stifled by increasing costs, a massive sell-off in global markets during the fourth quarter and reduced market activity in key international markets and investment destinations. The company’s stock price had dropped 3% pre-market trading today. Underwhelming Profits. Should Investors be Concerned? According to the report, HSBC recorded a $19.9 billion pre-tax profit for the whole of 2018, a figure which…

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Sony has shaken up its management structure again, as it moves to an improved emphasis on the PlayStation Network. Starting from April 1, Jim Ryan and John Kodera will swap positions. Ryan will move from his current position as Deputy President of Sony Interactive Entertainment (SIE) to president and CEO, while Kodera—the current CEO will be demoted to Deputy President. Ryan will report directly to Sony’s group president and CEO, Kenichiro Yoshida, as the company makes room for the expansion of its video game division—Game & Network Services. Yoshida noted in a statement: Our Game & Network Services business has…

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Before the market opens today, here’s a roundup of earnings reports from companies and how they fared on Monday, February 4, 2019. Viacom Stock Falls 1.5% Viacom’s results for the first quarter of the 2019 fiscal year came better than expected estimates, primarily due to an extended turnaround at its movie studios. However, the company’s earnings were also affected by its stalling cable network. The company’s stock fell 1.5% in pre-market trading. Viacom has majorly been in the news due to its potential merger with CBS, its former corporate affiliate. The two companies split back in 2006, but they both remain…

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The Competition and Market Authority (CMA) has launched an inquiry into a ‘penalty for loyalty’ which led households in coughing out over 4 billion a year on bills levied by household insurance, mobile phone contracts,  broadband services, mortgage, and savings accounts provider. The investigation carried out by Citizens Advice showed millions of customers who subscribe to top providers of essential services for a length of time become objects of cheap manipulation as they are made to pay exorbitant bills than what new customers pay. Probe Launched The complaints lodged by the consumers’ interest group has prompted the Government’s Competitions and…

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Industry figures have revealed significant slumps in the manufacturing of local automobiles in Britain. This is coming on the heels of recent declines recorded consecutively between June and July. The Society of Motor Manufacturers and Traders made this known on Thursday, September 27, 2018. They blamed the troubling statistics on the change in emissions regulations that came into legislation on September 1, 2017. The ‘quieter summer months’ according to the chief executive of the society Mike Hawes can be ascribed to reduced outputs as manufacturers embark on annual maintenance and re-tooling preparations for new models of their products. Lower Demand…

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UK based online fashion designer; Boohoo has notched an unprecedented sales performance and has claimed there is more in the offing as its popularity continues to rise. The phenomenal rise in sales has been attributed to the return of cycling shorts to the fashion center stage. Co-founder of Boohoo, Carol Kane expressed surprise at the emergence of cycling shorts as the summer’s “biggest fashion trend.” “I wore them in 1992,” she disclosed to investors Boohoo’s excellent corporate affairs have also seen the company make smart moves including the acquisition of PrettyLittleThing and NastyGal fashion labels—both of which are also making…

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The prevalence of bank transfer scams in the United Kingdom has led to the loss of millions of pounds. Official figures released on Monday revealed the worrisome scale of fraudulent activities in the country. The first half of the year witnessed the disappearance of £145 million— reaching an average loss of £1 million daily and 50 percent higher than what was recorded in 2017. Banks have been found culpable in these activities following their hesitance in refunds and apportioning the blame to customers for being behind the facilitation of such transfers. This posture has veiled the accurate figure for authorised…

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Insurers could be snooping on you via your social media, and at the same time keeping tabs on you more than you even think. From Facebook, Twitter to Instagram, nearly everything is online these days, which makes it easier for you to be monitored without your awareness. Insurers are often skeptical about claims; hence, they use evidence deduced from your social media posts to fight claims they think might be fraudulent. Notwithstanding, there’s a slim chance of an insurer denying your claim if your loss is as a result of your use of social media – say, your house is looted…

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