US PMI hits over 56 in in May. Apple to announce health-tracking apps at conference. Google to launch satellites. Airline group to recommend continuous plane tracking. Scotland seeks independence from Britain.
US PMI Index up to 56.4 in May
The S&P inched up to a fresh all-time high early on Monday in anticipation of the release of the Purchasing Managers Index for May. The Dow also hit a new high early in the morning then inched back down. According to CNBC, the PMI may have exceeded expectations by increasing to 56.4 in May, up from 55.4 in April. China’s PMI also increased in May, at the fastest pace in five months.
Google to launch satellites
The Wall Street Journal is reporting that Google plans to spend more then $1 billion to launch a fleet of satellites that will extend Internet access to unwired regions of the globe. The project will start with 180 small, high capacity satellites orbiting the earth at lower altitudes than traditional satellites. The project is estimated to cost between $1 billion and $3 billion. Google is counting on new Internet users in underserved regions to boost its revenue and earnings. Google’s Project Loon has already been launching high-altitude balloons to service remote parts of the world. In April, it acquired Titan Aerospace to build solar powered drones to improve connectivity. Facebook also has a drone effort.
Apple plans to introduce health-tracking apps
At the Worldwide Developers’ Conference today, Apple is expected to announce its push into a new health-tracking app. According to the New York Times, the app is expected to track statistics for health and fitness, like a user’s footsteps, heart rate and sleep activity. It is expected to connect to a smart watch that Apple plans to release later this year. Apple is also expected to make an announcement about smart home devices that can be controlled wirelessly by a Smartphone, including light bulbs, thermostats and door locks.
Airline group to recommend plane-tracking options
After the disappearance of Malaysian Airlines Flight 370, an organization representing airlines worldwide will offer a list of recommendations in October to improve the tracking of aircraft. The Associated Press indicates that the International Air Transport Association, that represents 240 airlines and carries 84 percent of passengers and cargo worldwide, is meeting in Doha, Qatar. Qatar has just unveiled a new $15.5 billion airport and Qatar Airways indicates it is currently exploring technology for continuous aircraft tracking. The draft of recommendations will be presented in September. Experts from IATA and from the International Civil Aviation Organization, sponsored by the UN, will work together on the recommendations.
Scotland to seek independence?
An official campaign was kicked off on Friday for a referendum that will determine whether Scotland will remain a part of Britain. The vote will occur in September and would redraw the borders of a union that has existed for more than 300 years. The New York Times reports that momentum has been swinging back and forth regarding the separation. In April, the pro-Britain forces were ahead in the polls by just 3 percentage points, however, in May the pro-Britain lead grew to 20 percentage points. Scotland believes that its oil revenue can be the source of its future success. Declining revenues, however, have concerned many of the corporations headquartered in Scotland…most of whom remain pro-Britain. The European Union has indicated that an independent Scotland would be too small to become a part of the union.
Catherine S. McBreen is President of Millionaire Corner. McBreen plans and develops content for Millionaire Corner. Catherine balances editorial content to meet the informational needs of both new and seasoned investors. She designs special monthly surveys on topical issues affecting the economic environment.
McBreen has a B.S. in speech communications from Northwestern University and a J.D. from DePail University College of Law. She is a member of the American Bar Association, the Illinois Bar Association, and the Chicago Bar Association.
Well-known for her expertise in the affluent and retirement arenas, McBreen is a frequent speaker at industry conferences. She has been quoted widely by the financial media, including The Financial Times, The Wall Street Journal, Research, Private Asset Management, On Wall Street, Reuters, Bloomberg News, The Dow Jones Newswires and Worth. Cathy has appeared as a guest on CNBC Closing Bell, First Business Morning News, Neal Cavuto at Fox Business News, ABC and CBS radio.
McBreen is co-author with Spectrem President George H. Walper, Jr. of the book "Get Rich, Stay Rich, Pass It On: The Wealth-Accumulation Secrets of America's Richest Families" (Portfolio, January 2008)
Catherine is the mother of four and is involved in many school and community events.