Traditionally, you would expect that the President would help encourage Americans to have confidence in their financial institutions. While Trump isn’t our President, he’s on a warpath to the nation’s highest office, and according to recent media reports, he’s bearish on the future of the stock market and the broader US economy.
The culprit, according to Trump, is the Federal Reserve’s monetary policy. The easy money that has been used to help fuel America’s recovery from the Great Recession is creating a market full of inflated stock prices. This writer has to smirk at the irony of a Republican candidate for president throwing stones at the financial institution that helped us recover from the financial disasters of the last Republican president.
Boeing (NYSE:BA) Launches New Entrepreneurship Initiative in UAE
One of the companies that Trump would likely argue has an “inflated stock price” has recently announced a new strategic partnership to help spur entrepreneurship overseas (the overseas part would probably tick him off too). Boeing (BA) is working with the Dubai Chamber of Commerce and Industry (DCCI) to create programs that will empower startups with seed funding and mentorship opportunities.
Good PR is never a bad thing, and with Emirates Airlines (based in Dubai) flying more than 156 of Boeing’s 777s, creating strong relationships in the region makes perfect sense. Boeing’s stock could use some good news as it’s still struggling, approximately 19% down from its 52-week high of $155.50 per share.
Boeing’s efforts to spur economic growth through seed funding and mentorship opportunities fall directly in line with similar initiatives taking hold around the globe. According to DVTorque.com, there’s a trend towards leveraged incubators with strong industry connections; part of what some companies call an “Entrepreneur in Residence” program.
Amazon (NASDAQ:AMZN) Enters Into 3rd Party Online Payment Processing
In other news this week, Amazon (AMZN) announced a major expansion of their online payment processing service. Amazon users have grown accustomed to the “One-Click” checkout option on Amazon’s e-commerce platform, but now Amazon customers visiting other sites will have the opportunity to use their Amazon account credentials to submit payment at checkout.
Amazon’s initial 3rd-party rollout partners include Shopify (NYSE:SHOP), PrestaShop and Future Shop; allowing their users to include Amazon Pay as on option in their sites. Amazon Pay has already proven to be successful on SouthWest Airlines’ (NYSE:LUV) in-flight WiFi service. The latest development brings Amazon Pay down from the clouds and onto small business websites across a vast number of industries.
As if the online and mobile payment space wasn't already crowded enough, this latest move puts Amazon directly at odds with the likes of PayPal (NASDAQ:PYPL), Apple (NASDAQ:AAPL) and Alphabet (NASDAQ:GOOG).
Presidential Politics, Entrepreneurial Support Abroad and Increased Online Payment Competition
The past few days have been incredibly hectic, and trying to keep up with all the late-breaking financial news has proven to be a challenge. But, good things come to those who wait. Whether it’s new material for Saturday Night Live courtesy of Donald Trump, new partnerships to spur entrepreneurship, or even a new idea from Amazon, there's never a dull moment covering the financial beat!