2019年5月14日
Nexba completes $6 million crowdfunding campaign as sugary soft drinks lose their fizz
Nexba is taking a big punt on the thirst of future consumers, after raising $6 million in series A funding, with $1.5 million from crowdfunding alone. The success marks the largest non-tech crowdfund in Australia to date, according to a statement from the beverage startup, with the remaining $4.5 million coming from other private investors.
In Australia, the health drinks market was growing at four per cent over the past five years. As consumers become more aware of [their health] they’re going to be looking more towards it. With revenues across the business up 148 per cent according to a statement, with drinks like probiotic water and kombucha leading the way. Nexba said they were “on track” to doubling gross revenues in FY19.
Nexba has eyes on other markets, saying that the $6 million will go to expanding its distribution into the UK market, partnering with Sainsbury’s and rolling out the drinks to the supermarket chain nationwide. The UK recently brought in a soft drink levy, taxing producers 24 pence per litre if a drink contains 8 grams of sugar per 100 millilitres, falling to 18 pence per litre if a drink has between 5-8 grams. Successful crowdfunding campaign aside, it may be some time before consumers ditch the sugar completely.
HSBC is warning of a big slowdown in China's economy if the US slaps all its imports with tariffs
The trade war between the United States and China has suddenly escalated, sinking the view held only a few weeks ago that a trade deal between the two nations was inevitable. On Friday, the United States announced an increase in existing tariffs on $US200 billion worth of Chinese imports from 10% to 25%. It also warned that it had begun the process of raising tariffs on a further $US300 billion worth of Chinese imports, meaning essentially all Chinese imports going to the United States will now be hit with 25% tariff rates.
HSBC Economics estimates that the increased tariffs will shave 0.3-0.5 percentage points (ppt) off China’s growth over the next 12 months. In the event that the US goes a step further and implements 25% tariffs on the remaining imports from China, they estimate such a move would take another 1.1-1.2ppt off China’s growth.
So Chinese economic growth could slow from an annual pace of 6.4% in the March quarter this year to the low 5% range within the next year, according to HSBC’s estimates. HSBC Economics expects an acceleration in required reserve ratio reductions and does not rule out a policy rate cut. The policy rate cut could come in the form of a traditional lending rate cut or tweaks in the open market operation rates, such as the reverse repo rate. Australian exports to China totalled $$123.3 billion over the year, largely reflecting China’s insatiable demand for Australia’s raw materials but also tourism and educated-related exports.
Venezuela's hyperinflation is so bad that a McDonald's Happy Meal briefly cost more than a month's salary
Hyperinflation in Venezuela is so bad that, for a time in March 2019, a McDonald’s Happy Meal cost more than the country’s minimum monthly wage. A photograph of a McDonald’s menu that showed a Happy Meal costing 18,500 bolivares soberanos in March:
People in Venezuela are trying to continue living their lives, though intense hyperinflation, food and medicine shortages, blackouts, and uprisings continue. Three million people have fled the country.
Its currency, the bolivar, has lost more than 99% of its value since 2013. The Guardian reported that people have turned to bartering or using other currencies, if they can get them.
Yepez also sent photos to INSIDER that showed how Venezuelans had put their almost-useless money on to a “money tree” in the street, with some even adding Monopoly money.
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