Global equities suffered their worst week since March, UK on the brink of a double-dip recession, bitcoin keeps rising and who is one of the first women promoted to a leadership role in VC?
Weekly newsletter for women who want to be smart about money: financial news, personal finance and investing
Welcome to our #43 weekly newsletter in 2020.
Every week we curate key content and apply a female-lens so you can stay informed and inspired about money and investing.
Stay in the know.
Keep on top of global economic, financial and investing news and trends. And read about what this means for you and your money in 2020 during Covid-19 and beyond.
“For women who are taking control of their financial future”
-Jana Hlistova
From The Purse…
Editorial from the Founder
Global equities have suffered their worst week since March: renewed virus-related lockdowns across much of Europe and the ‘final stretch’ of the US presidential campaign have added to the volatility in the financial markets.
Bitcoin keeps rising in tandem with the volume of negative debt.
US GDP surged a record 33% in Q3 as the economy re-opened however the increase does not fully offset the prior quarter’s decline.
The UK on the brink of a double-dip recession: the unemployment rate could rise to 12% by the end of 2020.
Twitter posted it worst trading day since 2014 after its Q3 results. And Amazon reports sales growth of 37% in Q3, topping estimates.
In the Have You Seen? This section, Kara Nortman, has become one of the first women promoted to a leadership role in venture capital.
And we’re tracking Clementine, a UK-based femtech, founded by Kim Palmer which provides a suite of wellness products to empower women to feel more confident, capable and on top of their game.
As the UK goes into lockdown again on Thursday, please stay safe, look after yourselves and your loved ones.
I hope you enjoy this week’s newsletter. Until next week,
Jana
The Big Picture
Global markets and economy news, trends and indicators
The Coronavirus Effect:
Global equities suffer their worst week since March
Renewed virus-related lockdowns across much of Europe and the ‘final stretch’ of the US presidential campaign have added to the volatility in the financial markets (with further losses on Friday).
Bitcoin keeps rising in tandem with the volume of negative debt.
Negative yields does not provide any interest or returns for investors.
Investors are seeking alternative investments, like bitcoin, to protect and grow their money.
US GDP surged a record 33% in Q3 as the economy re-opened
The GDP reading reflects a quarter of economic reopening and revived business activity throughout the country.
However the increase does not fully offset the prior quarter’s decline.
UK on the brink of a double-dip recession
The government is closing the furlough scheme this weekend.
The unemployment rate could rise to 12% by the end of 2020.
Future Focus
Keeping an eye on key predictions, innovations and what’s going to impact the future
Bitcoin will rise, no matter who wins the US election
Jeff Dorman, who is chief investment officer at cryptocurrency hedge fund Arca, has said that bitcoin will rise in value no matter who wins the US election.
Iran changes law to use Bitcoin for imports
Iran has become the first country in the world to use cryptocurrencies at a state level for value exchange.
The country is in the grip of US sanctions, so they can not use dollars for international trade.
Companies: winners & losers
Companies to watch and share price movements
Twitter posted it worst trading day since 2014 after its Q3 results
It showed meagre user growth.
Shares plunged 21%, as the firm added 1m new users (8m fewer than expected).
Amazon reports sales growth of 37% in Q3, topping estimates
Earnings: $12.37 vs $7.41 per share expected, according to analysts surveyed by Refinitiv.
Revenue: $96.15 billion vs $92.7 billion expected, according to analysts surveyed by Refinitiv.
However, the stock fell as much as 2%, after Amazon provided a wide guidance range for the fourth quarter:
The company forecast operating income of $1 billion to $4.5 billion, assuming about $4.0 billion of costs tied to COVID-19.
Have You Seen This?
Female-focused news, reports, research, campaigns
Kara Nortman, is one of the first women promoted to a leadership role in VC
Upfront Ventures have promoted Kara Nortman to co-managing partner.
Kara’s promotion is possibly the first time that a large venture capital firm has promoted a woman to the position of co-managing partner.
Kara is one of the founders of All Raise, the organisation dedicated to supporting gender equity in venture capital and technology, a director for Times Up and the co-founder of the Los Angeles-based expansion women’s soccer team, Angel City.
Know this: in the US and UK, women represent just 13% of decision-makers in venture capital. According to Morgan Stanley, VC firms risk losing to as much as $4trillion by not investing in women and other underrepresented entrepreneurs. Women founders (only) access less than 3% of global VC funding. US research shows that women VCs invest in women founders three times the rate of men. It follows that we will start to see a shift in how much funding goes to women as the number of women VCs increase.
What We’re Tracking
Female-focused products or services, start-ups and businesses led by women, investment, crowdfunding campaigns and research.
Clementine (UK)- founded in 2017 by Kim Palmer, provides world-leading virtual professional hypnotherapy sessions and a suite of wellness products to empower women to feel more confident, capable and on top of their game.
The femtech startup has secured €1.1m and with it a place in Fortunis Capital’s Top 20 UK Impact Investment Fund.
Research by KFF shows 57% of mothers of children under 18 say their mental health has worsened during Covid-19 compared to 37% of men.
Coffee Break? Read This
Venture diversity is burdened by the unnecessary need for wealth
Martin Lewis says that thousands of women in the UK could be owed up to £82,000
We’d love to hear from you. Get in touch with Jana via the The Purse website or tweet @jointhepurse and @janicka.
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