When your price-to-earnings valuation ratio fails, measure a stock with your heart
For some millennial investors, loyalty to one of their favorite apps matters more than financial details in the case of Snap Inc. The stock of Snapchat’s parent company has been on a roller-coaster ride since its market debut. Some seasoned investors have been wary of the volatile, relatively high-priced stock of a company that has yet to report a profit. But novice investors told Reuters’ Angela Moon that their deep affinity with the disappearing-message app prompted them to jump in.
Town and country and climate change
Many cities are setting goals to curb climate change that exceed national targets, causing tensions with federal governments about who controls policy over green energy, transportation and construction. Just over half the world’s population lives in urban areas, meaning municipalities will help to determine whether the historic shift from fossil fuels to cleaner energy agreed in the Paris climate accord succeeds or fails. But as many cities become more assertive, governments are reluctant to cede control. Reuters’ Alister Doyle reports from Oslo.
BlackRock has a new checklist for the companies it supports
BlackRock, which wields outsized clout as the world’s largest asset manager, plans to put pressure on companies to explain themselves on issues such as climate change and how it could affect their business, as well as uneven wage growth and boardroom diversity -- particularly the hiring of more women. Reuters’ Ross Kerber received a copy of the report in advance.
‘I’ve been a miner for a heart of gold’
India’s ambitious plan to recycle gold lying idle in temples and households looks to have foundered on concerns over high costs and slight returns, in a blow to government hopes of cutting its trade deficit by stemming imports of the metal. After 16 months, temples and households have turned over just seven tonnes of gold out of the 24,000 tonnes believed to be in private hands, Reuters’ Rajendra Jadhav reports.
Reuters photo of the day
Just another day at the dog show
Katie McCloughlin lies with Topsy, her English Setter, during the third day of the Crufts Dog Show in Birmingham, Britain. REUTERS/Darren Staples