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Starting June 1st, 2023 Our warehouse fee will be $0.65/cubic foot per month

In effort to lower the warehouse storage fee during inflation, we have went narrow aisle racking.This construction took us four months but the project is finally completed. With narrow aisle racking, we are able to drop storage by 24%.We as partners will go through this inflation together.

Starting June 1st, 2023 Our warehouse fee will be $0.65/cubic foot per month

In effort to lower the warehouse storage fee during inflation, we have went narrow aisle racking.This construction took us four months but the project is finally completed. With narrow aisle racking, we are able to drop storage by 24%.We as partners will go through this inflation together.

Blogs/hot-news

03/17/2023

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First Republic Bank Rescue Sparks Global Market Rebound Led by US Lenders

    First Republic Bank Rescue Sparks Global Market Rebound Led by US Lenders

    According to a CNN report from Hong Kong/London, Asian and European markets saw a recovery on Friday due to the rescue of First Republic Bank by a group of major US banks, helping to alleviate concerns about the ongoing banking turmoil. Deutsche Bank analysts observed a renewed sense of optimism in the market as bank stocks stabilized on both sides of the Atlantic.

    First Republic Bank is set to receive a $30 billion bailout from leading American banks such as JPMorgan Chase, Bank of America, Wells Fargo, Citigroup, and Truist. This development eased investor concerns following the recent collapse of two US banks and turmoil at Credit Suisse. On Thursday, US stocks closed higher, led by a tech share rally.

    European shares also gained on Thursday, as investor confidence was boosted by Credit Suisse's decision to borrow up to 50 billion Swiss Francs ($53.7 billion) from the Swiss National Bank. The European rally continued into Friday, with modest increases in indices such as the Stoxx Europe 600, Germany's DAX, and France's CAC 40.

    The Stoxx Europe 600 Banks index, monitoring 42 large EU and UK banks, opened higher but traded flat by mid-morning. London's FTSE 100, dominated by banks, rose by 0.6%. However, Credit Suisse shares dropped by as much as 5% in early trading, indicating that investor confidence in the bank has not yet fully recovered.

    In Asia, markets like Hong Kong's Hang Seng, China's Shanghai Composite, Japan's Nikkei, and South Korea's Kospi experienced gains at market close. These gains followed larger declines on Thursday. Chinese tech, property, and financial stocks experienced a broad rally, with Baidu closing 14% higher in Hong Kong after positive initial reviews of the company's ChatGPT-like app.

    Country Garden's shares rose by 7.7% after China's property market displayed early recovery signs, with new home prices increasing for the first time since August 2021. Market analyst Yeap Jun Rong of IG said that the banking sector's collective effort to support First Republic Bank's finances brought much-needed reassurance to alleviate further banking concerns.

    Investors worldwide have been anxious for a week following the swift collapse of Silicon Valley Bank and Signature Bank, raising concerns about the global banking sector's health. These worries were exacerbated when Credit Suisse shares plummeted in Europe. Regulators on both sides of the Atlantic have implemented emergency measures to bolster confidence, including safeguarding deposits at SVB and Signature Bank.

    European shares largely ignored the European Central Bank's decision to maintain its plan to increase interest rates by half a percentage point on Thursday. European economist Ulrike Kastens of DWS said that this rate hike is positive news amid persistently high inflation rates, and the bank will continue to provide liquidity measures if necessary to ensure financial market stability. Investors now await the Federal Reserve's rate decision next week, expecting a 25 basis point rate hike by the US central bank.

     

    Harley Nguyen

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