10 Successful Money-Making Strategies
Discover 10 money-making strategies that have worked wonders for me. From freelancing to investing and selling products online, there’s something for everyone!
Category: Finance
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Mattel shares plunge after company’s guidance comes in below estimates
[ad_1] Shares of toy maker Mattel plunged more than 15 percent on Friday after the company posted weaker-than-expected full year 2019 guidance during an analyst meeting in New York. The company said it expects adjusted EBITDA to be in a range of $350 million to $400 million for 2019, below analysts expectations of $551.6 million,…
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Stocks making the biggest moves midday: XPO Logistics, Nvidia, Canopy
[ad_1] Check out the companies making headlines midday Friday: XPO Logistics – XPO stock tanked a whopping 17 percent after the transportation company reported disappointing fourth-quarter results. Its earnings came in eight cents shy of estimates with adjusted quarterly profit of 72 cents per share, and the company’s revenue also fell short of expectations. XPO…
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Charlie Munger says California, Connecticut have been ‘stupid’ for driving rich people away
[ad_1] Charlie Munger, Warren Buffett‘s right-hand man at Berkshire Hathaway, said that places like California and Connecticut have been very “stupid” for driving rich people away from their states. “It’s been serious. Driving the rich people out is pretty dumb if you’re a state or a city,” Munger told CNBC’s Becky Quick in an interview…
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Small banks you’ve never heard of quietly power the booming fintech industry
[ad_1] In order to take customer deposits in the United States, a company needs federal deposit insurance. It’s an elite club that is not eagerly looking for members. “It’s very difficult, if not impossible for a non-bank to get an account with the Fed” said Amias Gerety, partner at QED Investors and a former acting…
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XPO Logistics tanks after earnings miss, 2019 warning
[ad_1] Shares of XPO Logistics, one of the largest transportation and warehouse companies in the world, plummeted more than 13 percent in the premarket Friday after reporting weaker-than-expected earnings and issuing a dire warning about its business in 2019. XPO Logistics posted adjusted fourth-quarter earnings per share of 72 cents on Thursday, well below a…
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Consumer sentiment hits 95.5 in February, vs. expectations for 93
[ad_1] Scott McIntyre | Bloomberg | Getty Images Customers push shopping carts while entering a Costco Wholesale store in Miami, Florida. Consumer sentiment gained more than expected in early February as U.S. spending confidence recovered after the end of the longest government shutdown in history. The University of Michigan consumer sentiment index rose to 95.5…
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Euro news: Car sales PLUNGE for firth straight quarter – Eurozone fears grow | City & Business | Finance
[ad_1] Figures released by the European Automobile Manufacturers Association revealed passenger car registrations dropped 4.6 percent compared to the same month last year to 1.23 million vehicles. Sales were down in the sectors largest markets – 1.4 percent in Germany (265,702 new passenger car registrations), -1.1 percent in France (155,079), -.1.6 percent in the UK…
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Euro news: Britain grows FASTER than Germany and Italy – EU on red alert | City & Business | Finance
[ad_1] Following the latest gloomy figures, ratings agency Moody’s slashed Italy‘s forecast for GDP growth in Italy this year to between zero and 0.5 percent having initially predicted growth of 1.3 percent. The UK economy grew at its slowest rate last year since 2012, with GDP up by 0.2 percent during the final three months…
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Berkshire trimmed its Apple stake, but it wasn’t Buffett
[ad_1] Berkshire Hathaway decreased its stake in Apple by nearly 3 million shares, to 249.5 million, in the fourth quarter, but Warren Buffett reportedly had nothing to do with the selling. “One of the managers other than Warren had a position in Apple and sold part of it in order to make an unrelated purchase,”…
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Stocks making the biggest moves premarket: PepsiCo, Deere & more
[ad_1] Check out the companies making headlines before the bell: PepsiCo – The beverage and snack giant reported adjusted quarterly profit of $1.49 per share, matching Street forecasts, while revenue beat estimates. However, PepsiCo also forecast an unexpected drop in full-year profit, due to a stronger dollar and increased investments. Deere – The heavy equipment…
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Is Bitcoin shaping up for a collapse? | City & Business | Finance
[ad_1] Boredom and apathy are familiar bedfellows in this game. They creep into any market eventually. But, given bitcoin’s penchant for volatility, neglecting it for long spells could prove a risky tactic. Now, more than ever, BTC’s graph requires close attention. That seemingly stagnant sideways movement, when viewed close in, is not all it seems.…
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Pound US dollar exchange rate: GBP/USD climbs as Trump threatens national emergency | City & Business | Finance
[ad_1] The White House press secretary, Sarah Huckabee Sanders, said in a statement: “President Trump will sign the government funding bill, and as he has stated before, he will also take other executive action — including a national emergency — to ensure we stop the national security and humanitarian crisis at the border.” Despite the…
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Pound euro exchange rate: GBP jumps as UK retail sales reveal shock expansion | City & Business | Finance
[ad_1] Rhian Murphy, the Head of Retail Sales at the ONS stated: “Department stores were the only stores to show a decrease in both the quantity bought and the amount spent at negative 0.6% for both measures. “Textile, clothing and footwear stores showed strong growth at 5.5 percent in the quantity bought as stores took…
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Pound LIVE: GBP Sterling PLUMMETS against euro and US dollar after Commons defeat for May | City & Business | Finance
[ad_1] The British currency has slipped to €1.1343 after rallying to €1.1363 at 8am, according to Bloomberg. This marks a massive fall from the heights of €1.1408 Pound Sterling hit on Wednesday. Pound Sterling suffered a similar slump against the US dollar, falling to $1.1790 having hit 1.2815 at 8am. This also marked a huge…
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RBS profits more than DOUBLE to £1.6BN as taxpayers net £1BN WINDFALL | City & Business | Finance
[ad_1] The country’s central bank, which is 62 percent owned by the government, will pay £977million to the Treasury through dividend payments. Full year pre-tax operating profits increased by half to £3.4billion. It marks RBS’ second year in the black following a decade-long run of crushing losses. On Friday, the bank paid out a 3.5p…
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Markets now hoping tariffs don’t change on March 1, JP Morgan says
[ad_1] Within a few months, the discussion on trade focused more on U.S. complaints about how China treats foreign companies, including longstanding economic structural issues and intellectual property rights. Trump’s latest agreement was not to raise tariffs as planned at the beginning of 2019 if both sides could reach a resolution on “forced technology transfer,…
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Buffett’s Berkshire reports new stake in Canada’s Suncor, shares spike
[ad_1] Warren Buffett’s Berkshire Hathaway added more than 10.8 million shares of Suncor in the fourth quarter, according to a filing with the Securities and Exchange Commission. Suncor, an energy company based in Calgary, Canada, jumped as high as nearly 4 percent in after-hours trading on Thursday. Buffett’s conglomerate also revealed a new stake of…
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CBS, NVIDIA, Suncor and more
[ad_1] Check out the companies making headlines after the bell: NVIDIA shares jumped more than 9 percent after hours Thursday based on the chip company’s better-than-expected fourth-quarter earnings. The company posted earnings of 80 cents per share on revenue of $2.21 billion. Wall Street estimated earnings of 75 cents on revenue of $2.2 billion. The…
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Stocks making the biggest moves premarket: Coca-Cola, Alphabet & more
[ad_1] Check out the companies making headlines before the bell: Coca-Cola – Coca-Cola matched Wall Street forecasts with adjusted quarterly profit of 43 cents per share, revenue above estimates and organic growth strongly beating forecasts. The company said it had a solid quarter despite a negative impact from currency headwinds and refranchising. Alphabet – Citi…
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Trade war is clouding outlook
[ad_1] J.P. Morgan Chase missed profit expectations for the first time in 15 quarters. In the earnings call, CFO Marianne Lake addressed the uncertainty around trade battles: “For sure sentiment is not immune to external factors. I would say capex is sluggish on fears around global growth. Government shutdown and trade are not particularly helpful.…
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MGM Resorts, AIG, Marathon Oil
[ad_1] Check out the companies making headlines midday Thursday: Bloomin’ Brands — Shares of the hospitality company jumped 8 percent on stronger-than-expected quarterly results. Bloomin’ Brands posted earnings per share of 30 cents and revenue of $1.01 billion. Analysts polled by Refinitiv expected a profit of 26 cents a share on sales of $1.001 billion.…
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Economists slash growth for fourth quarter after big retail sales drop
[ad_1] Timothy Fadek | Bloomberg | Getty Images Customers shop at a Walmart store in Secaucus, New Jersey. Economists slashed fourth-quarter GDP forecasts Thursday, and now see growth closer to 2 percent than 3 percent, after a surprise drop in December retail sales. According to the CNBC/Moody’s Analytics Rapid Update, economists in the survey see…
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Your first trade for Thursday, February 14
[ad_1] The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of EOG Resources. Brian Kelly was a buyer of the Oil & Gas ETF. Dan Nathan was a buyer of Nvidia. Guy Adami was a buyer of HollyFrontier. Trader disclosure: Tim Seymour is long AMZN, AAPL, ACBFF,…
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‘Downside risks have definitely increased’ on the economy
[ad_1] Federal Reserve Governor Lael Brainard said Thursday she’s growing more concerned about economic growth, particularly the impact that the global slowdown will have on the United States. Speaking the same morning that U.S. retail sales numbers came up well short of market expectations, the central bank policymaker said she’s watching the developments in an…
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Retail sales were so bad, it’s either suspect or a recession warning
[ad_1] Stock futures, higher before the reports, reversed course after the two 8:30 a.m. reports. The Dow was down more than 220 points in early trading, but stocks cut their deepest losses in morning trading. The bond market convulsed, with the 10-year yield retreating from an early of 2.71 percent to 2.64 percent, after the…
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China to boost purchases of US semiconductors to alleviate trade tensions
[ad_1] Mark Schiefelbein | Pool | Reuters Chinese Vice Premier and lead trade negotiator Liu He, right, reaches to shake hands with U.S. Trade Representative Robert Lighthizer before the opening session of trade negotiations at the Diaoyutai State Guesthouse in Beijing, Thursday, Feb. 14, 2019. China is reportedly promising to buy semiconductors and other U.S.…
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WOMEN entrepreneurs report huge gender prejudice when trying to raise finance | City & Business | Finance
[ad_1] A new report from Aldermore Bank finds 17 percent of them believe they have had an application denied solely because of that. The research, which surveyed more than a thousand business decision-makers across the UK, suggests a further 18 percent of female business leaders felt their applications had been denied because of personal opinion. One…
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Do YOU live in England’s best town to buy a house? Top 10 best and worst REVEALED | Personal Finance | Finance
[ad_1] Figures released by the Office for National Statistics and the Land Registry revealed property values increased 2.5 percent in the year to December – the lowest annual rate since July 2013 when there was 2.3 percent growth. The report said at the end of last year, the average UK house price was £231,000, marking…
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Royal Mail’s subscription box report finds a booming sector attracting bigger brands | City & Business | Finance
[ad_1] Its latest UK Subscription Box Boom report finds low barriers to entry in the market have meant that budget-conscious entrepreneurs can establish and build a successful business. That is now sparking interest from bigger players including Gillette and Sephora hoping to emulate the performance of subscription companies such as Dollar Shave Club and Birchbox. Yet,…
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Market rebound could prematurely push Fed to raise rates: James Bianco
[ad_1] His base case calls for no interest rate hikes this year, but market researcher James Bianco has his guard up. He’s worried the Federal Reserve may become too ambitious and wreck the economy. “The economy is OK on its own. I don’t really think it needs tightening,” the Bianco Research president said Wednesday on…
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JP Morgan Chase to roll out own cryptocurrency in WORLD FIRST for bank | City & Business | Finance
[ad_1] The lender will begin trials of its new digital token ’JPM Coin’ over the next few months, which was created by engineers at the New York-based bank to instantly settle payments between clients. When the testing of international payments is complete, it will become one of the first real-world applications for cryptocurrency in banking.…
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Romance scams cost Americans $143 million last year
[ad_1] Many people looking for love online are finding loss instead — roughly $2,600 in lost cash that was lovingly wired to an online sweetheart who mysteriously disappeared. The Federal Trade Commission received 21,000 reports of romance scams in 2018 — its highest reported number yet —with victims losing a total of $143 million, the…
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Pound euro exchange rate: GBP/EUR slides on Brexit jitters as Eurozone slams on the brakes | City & Business | Finance
[ad_1] This was followed by the Eurozone’s Q4 GDP figures, which came in on target at 1.2 percent growth, although this represents a considerable slowing from 1.6 percent in Q3, according to figures published by Trading Economics. Q4 Eurozone employment change figures bucked the trend, however, and increased above expectation to 0.3 percent – providing…
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Germany news: EU’s biggest economy narrowly escapes RECESSION – warnings for 2019 | City & Business | Finance
[ad_1] The latest figures from the Federal Statistics Office revealed Gross Domestic Product (GDP) in Europe’s biggest economy – valued at £3.1trillion – remained unchanged in the final three months of 2018. This meant Germany barely escaped a recession that could potentially have plunged the entire eurozone into a state of severe panic. A recession…
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A380: Airbus to stop building superjumbo jet – thousands of jobs potentially at risk | City & Business | Finance
[ad_1] The aviation giant said it made the “painful” decision after struggling to sell the world’s largest passenger jet, and after Emirates – the biggest user of the planes – chose to slash its A380 order book by around a quarter. This decision, as well as a lack of order backlog with fellow airlines, will…
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Pound US dollar exchange rate: USD buoyed on US China trade deal hopes | City & Business | Finance
[ad_1] Meanwhile, the pound is weighed down by Brexit anxieties today, as Theresa May faces another possible defeat in Parliament, with some Tory Brexiteers refusing to back the government over her EU withdrawal deal. Going back to the US, January’s Consumer Price Index has been released, and while it showed better-than-forecast growth, rising by 1.6…
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Hilton Worldwide, Dish Network, Deere, GM & more
[ad_1] Check out the companies making headlines before the bell: Hilton Worldwide – The hotel chain reported adjusted quarterly profit of 79 cents per share, beating forecasts by ten cents. Hilton also reported better than expected revenue, as well as an upbeat current quarter forecast, as it benefits from increased travel demand and higher prices.…
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Cisco, AIG, Yelp and more
[ad_1] Check out the companies making headlines after the bell: Cisco Systems shares jumped more than 4 percent after hours Wednesday after posting better-than-expected second-quarter earnings. The technology company beat on the top and bottom lines. They reported earnings of 73 cents on revenue of $12.45 billion. Wall Street estimated earnings of 72 cents on…
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Xi reportedly to meet with Mnuchin, Lighthizer in US-China trade talks
[ad_1] China and the U.S. are trying to strike a deal before March 2. Otherwise, additional U.S. tariffs on Chinese goods could take effect. The report comes a day after President Donald Trump said he would consider pushing back the current March deadline if it means a deal between the two countries can be reached…
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Trump will get the weak dollar he likes from a China trade deal but not if he goes after Europe
[ad_1] A trade deal with China could stop the dollar’s rise, but it may not stay down if President Donald Trump then turns his focus to tariffs on European cars. U.S. trade negotiators are in China this week, and stocks and risk assets have risen on optimism that a deal will be reached and that…
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Wall Street bear warns the earnings slowdown will crush rally
[ad_1] Wall Street bear Peter Boockvar warns that 2019’s market rally is flawed, and a major setback will slam stocks. His chief reasons include sluggish global growth, the earnings slowdown and a fuzzy economics picture. “I would be fading this rally thinking that it’s more of a bear market bounce rather than this is the…
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US wants automatic tariffs to keep China in line with any trade deal
[ad_1] The mechanism is not a new idea. It was put in place in 2001 when China joined the WTO, and President Barack Obama used it in 2009 to impose tariffs on Chinese tire imports when the U.S. market was disrupted. But China retaliated with duties on cars and poultry. The rule expired in 2013.…
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Goldman CEO David Solomon says US economy still ‘chugging along,’ chance of recession quite small
[ad_1] Goldman Sachs CEO David Solomon said Wednesday the chances of a recession are quite small, even though the rate of economic growth is slowing. “There is no question that the momentum of growth in the United States has slowed,” Solomon told Sara Eisen on CNBC’s “Closing Bell.” “That said, economic activity in the United…
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Investors need to get back to stock picking
[ad_1] With the S&P 500 now 17 percent off its low, investors should turn to picking individual stocks to capture the best stock market returns, according to Goldman Sachs stock strategists. Stock-picking opportunities are most plentiful among stocks in the consumer discretionary, communications serivces and health care sectors. They highlight stocks like Monster Beverage, WellCare…
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Traders boost the wrong stock after J&J takeover
[ad_1] Michael Nagle | Bloomberg | Getty Images Traders work on the floor of the New York Stock Exchange, Jan. 14, 2019. Drug developer Auris Medical surged as much as 30 percent on Wednesday after a takeover announcement from Johnson & Johnson came out in the morning. But Auris Medical isn’t the company being bought…
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Become tax savvy to save thousands of pounds | Personal Finance | Finance
[ad_1] New research shows that half of over-45s do not realise their main property may be subject to inheritance tax (IHT), and could face a shock demand from HM Revenue & Customs as a result. As the end of the tax year looms, people are being urged to make efforts to keep their tax bill to…
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Headlines say there's no inflation, but look at what's getting more expensive
[ad_1] U.S. consumer prices were unchanged in January on the headline level, but looking under the hood, some of the most basic consumption including rent, food and medical care are all getting more expensive. [ad_2] Source link
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Teva Pharmaceuticals, Hilton, Groupon & more
[ad_1] Check out the companies making headlines midday Wednesday: Diebold Nixdorf — Shares of the ATM maker surged more than 30 percent after reporting a better-than-expected quarterly revenue and upbeat guidance for 2019. Diebold expects adjusted earnings before interest, taxes, appreciation and amortization to range between $380 million and $420 million, well above a FactSet…
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Your first trade for Wednesday, February 13
[ad_1] The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of Mattel. Karen Finerman was a buyer of Macy’s. Steve Grasso was a buyer of Lennar. Guy Adami was a buyer of Take-Two Interactive. Trader disclosure: Tim Seymour is long AMZN, AAPL, ACBFF, AMZA, ACB, APC, APH,…
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Wealthiest deserve taxes if not helping inclusion
[ad_1] Most high-net worth business leaders insist that the private sector is far better equipped to fix today’s major problems than inefficient or overburdened government bureaucracies. Entrepreneur Arianna Huffington, speaking to CNBC at this week’s World Government Summit in Dubai, pointed to the urgent need for better health care access and said that “corporations can…
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Your student loan bill could soon be taken out of your paycheck
[ad_1] Student loan borrowers would have their monthly bills automatically deducted from their paychecks if a Republican-backed proposal becomes law. Sen. Lamar Alexander, R-Tenn, chairman of the Senate Health, Education, Labor and Pensions Committee, laid out the details of the massive overhaul to the student loan system in a speech earlier this month. The changes…
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MERKEL CRISIS: Germany facing RECESSION risk ahead of crunch growth figures
[ad_1] GERMANY is bracing itself for a slide into recession ahead of Thursday’s release of vital economy growth figures, which could heap more pressure on Chancellor Angela Merkel. [ad_2] Source link
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ST PANCRAS INTERNATIONAL: all solos need this Valentine’s Day
[ad_1] World famous architectural beauty St Pancras International railway station is celebrating the state of singledom this Valentine’s Day by offering solo Londoners a wide range of promotions and offers – available when they show membership to one or several, dating apps. [ad_2] Source link
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State pension: How much is the state pension? How much should you put in personal pension?
[ad_1] STATE PENSION is the best-established way to a good retirement fund, but is only available to certain age groups in certain amounts, unlike a personal pension. How much is the state pension and how much money should you put in a personal pension? [ad_2] Source link
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Papier wins hearts with its digital and paper perfect match
[ad_1] Digital and paper are proving the new power couple and a perfect match for Papier, an online business selling personalised stationery that has seen sales for Valentine’s Day cards quadruple in two years. [ad_2] Source link
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Euro news: Europe is BIGGEST THREAT to global economy – VICIOUS DEBT CRISIS incoming | City & Business | Finance
[ad_1] Last week, eurozone growth forecasts were slashed by the European Commission as fears continue to intensify over the bloc’s biggest economies. In its latest quarterly forecasts, the Commission warned eurozone growth will slow to 1.3 percent this year from 1.9 percent in 2018. Growth is expected to rebound slightly to 1.6 percent in 2020,…
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Pound euro exchange rate rises as Eurozone industrial malaise trumps lower UK inflation | City & Business | Finance
[ad_1] Last month, cheaper energy dragged inflation lower, recording a contraction of 0.8 percent between December and January. The latest inflation figures will put the focus back on real wages and the cost of living, and with average basic pay increasing by 3.3 percent annually, real earnings are growing by around 1.5 percent. The Eurozone…
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Pound US dollar exchange rate: GBP/USD steadies as Fed gets bullish over economy | City & Business | Finance
[ad_1] USD has also benefited from allayed fears of another partial US government shutdown after the White House and Congress arrived at a compromise – in principle – over border security. President Donald Trump commented: “I don’t think you’re going to see a shutdown … If you did have it, it’s the Democrats’ fault.” Many…
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‘It should open the door to 2,800 now’
[ad_1] Technical analysts say more bullish signs for stocks are showing up in the charts. The S&P 500, for one, closed above a key technical level Tuesday, when it finished above its 200-day moving average for the first time since Dec. 3. The S&P rose 1.3 percent Tuesday to 2,744, one point above the 200-day,…
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Can blockchain save Brexit? It could solve Ulster border problem | City & Business | Finance
[ad_1] The 310-mile border from Lough Foyle to Carlingford Lough has been a contentious issue over attempts to reach a Brexit agreement with other EU governments. Theresa May has tabled a backstop agreement – thereby allowing the border to stay open. Both the UK and the EU want the current ‘soft border’ to remain. However,…
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Pound LIVE: GBP Sterling PLUMMETS – inflation falls to TWO-YEAR LOW | City & Business | Finance
[ad_1] Pound Sterling was trading at 1.1382 against the euro at 9am according to Bloomberg, but had been as high as 1.1405 just over an hour earlier. The British currency suffered a similar decline against the US dollar, trading at 1.2893 but has fallen from 1.2920 early this morning. Sterling had started to recover slowly against…
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Activision Blizzard, TripAdvisor, Akamai and more
[ad_1] Check out the companies making headlines after the bell: Shares of Activision Blizzard were volatile in extending trading Tuesday following a mixed fourth-quarter earnings report and weak outlooks for both the first quarter and full year. The stock initially fell 3 percent after the company reported earnings of $1.29 per share on revenues of…
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Marco Rubio attack on buybacks sends shudder down Wall Street
[ad_1] Florida Republican Sen. Marco Rubio proposes changing the capital gains tax as a way to discourage corporate buybacks, a position that could spook the stock market if other prominent Republicans get behind the idea. The capital gains tax is a new twist on the assault on corporate buybacks, which had been mainly under fire…
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Tax filing season isn’t going smoothly
[ad_1] The longest government shutdown in history could not have come at a worse time for the IRS, the National Taxpayer Advocate has told Congress. The IRS was heading into its first filing season under the massive new tax law when the federal government partially closed. Among the changes was the raising of the standard…
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Caterpillar, Under Armour, Molson Coors Brewing & more
[ad_1] Check out the companies making headlines midday Tuesday: Caterpillar, Deere, Boeing — These global trade bellwethers rose at least 1 percent as Wall Street bet on the increased likelihood of a U.S.-China trade deal. Both sides expressed hopes the new round of negotiations, which began in Beijing on Monday, would bring them closer to…
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Bitcoin news: Venezuela trading of bitcoin hits ALL TIME high as faith in currency fails | City & Business | Finance
[ad_1] Bitcoin (BTC) trading volumes soared to 2,454 on February 11, equivalent to about £8.95 million on peer-to-peer exchange local bitcoins, CCN reported. The rise comes a few days after trading volumes on the exchange surpassed 2,000 BTC for the first time as economic hyperinflation and a political power struggle in Venezuela ensues. Ten of…
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Fed’s Powell puts focus on spreading benefits of a strong economy
[ad_1] Adam Jeffery | CNBC Jerome Powell, Chairman of the Federal Reserve, speaking at the New York Economic Club on Nov. 181128. Federal Reserve Chairman Jerome Powell said the U.S. economy looks strong, but the central bank is continuing to find ways to fight poverty. Speaking Tuesday in Mississippi, Powell said the central bank is…
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Watch Fed Chair Jerome Powell speak live at forum in Mississippi
[ad_1] [The stream is slated to start at 12:45 pm ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chairman Jerome Powell is speaking Tuesday on “Economic Development in High Poverty Rural Communities” at the Hope Enterprise Corporation Rural Policy Forum in Itta Bena, Mississippi. Earlier…
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Banning buybacks would backfire and lead to more companies going private-Canaccord
[ad_1] If Congress limits the ability of companies to buy back shares, it would backfire and likely result in more companies taking themselves private through leveraged buyouts, a Wall Street research firm said. “Going private is essentially a 100 percent buyback,” said Brian Reynolds, asset class strategist at Canaccord Genuity. He adds that CEOs are…
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Banning buybacks would backfire and lead to more companies going private-Canaccord
[ad_1] If Congress limits the ability of companies to buy back shares, it would backfire and likely result in more companies taking themselves private through leveraged buyouts, a Wall Street research firm said. “Going private is essentially a 100 percent buyback,” said Brian Reynolds, asset class strategist at Canaccord Genuity. He adds that CEOs are…
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Banning buybacks would backfire and lead to more companies going private-Canaccord
[ad_1] If Congress limits the ability of companies to buy back shares, it would backfire and likely result in more companies taking themselves private through leveraged buyouts, a Wall Street research firm said. “Going private is essentially a 100 percent buyback,” said Brian Reynolds, asset class strategist at Canaccord Genuity. He adds that CEOs are…
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Goldman Sachs has a ‘low labor costs’ stock strategy that beats the market
[ad_1] Rising wages are expected to eat into corporate profit margins, weighing on companies that are already projecting much slower growth. But Goldman Sachs said some stocks should be immune to higher labor costs. January jobs report pointed to a 3.2 percent year-over-year increase in wage growth, around the highest levels in the economic recovery.…
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Fidelity and Schwab fire latest salvos in brokerage fee war
[ad_1] Daniel Fung | Getty Images Unlike actively managed mutual funds, ETFs track indexes, making them passively managed. The price war between major U.S. brokerages heated up on Tuesday after Charles Schwab and Fidelity both announced they would expand commission-free trading to hundreds more exchange traded funds. Both companies said they would make around 500…
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This start-up is bringing fast home equity loans to your smartphone
[ad_1] Thanks to rising home values, Americans are sitting on a record $6 trillion that can be tapped through home equity loans or cash-out refinances, according to data provider Black Knight. Banks may focus on that segment while the purchase mortgage market slows because of rising interest rates and diminished affordability. Blend is the latest…
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Your first trade for Tuesday, February 12
[ad_1] The “Fast Money” traders shared their first moves for the market open. Pete Najarian was a buyer of AutoZone. Tim Seymour was a buyer of Coca-Cola. Dan Nathan was a buyer of Activizion Blizzard. Guy Adami was a buyer of Newmont Mining. Trader disclosure: Tim Seymour is long AMZN, AAPL, ACBFF, AMZA, ACB, APC,…
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Goldman CEO prepares for ‘edgy’ talk ahead of 2020 election
[ad_1] Jonathan Alcorn | Bloomberg | Getty Images David Solomon, Goldman Sachs Goldman Sachs CEO David Solomon said that he expects that political discussions will target banks in the coming U.S. presidential election. “I think the tone in Washington as we come into an election will be edgy with respect to our industry,” Solomon said…
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Under Armour, Coty, Walmart, Amazon.com & more
[ad_1] Check out the companies making headlines before the bell: Under Armour – The athletic apparel maker earned an adjusted nine cents per share for the fourth quarter, beating the consensus estimate of four cents. Revenue also beat forecasts, with results being helped by higher sales and fewer discounts. Molson Coors – The beer brewer…
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Wall Street bull says market is at point of ‘maximum uncertainty’
[ad_1] One of Wall Street’s biggest bulls says the market is “at the point of maximum uncertainty” that could morph into one of the best buying opportunities of the year. “The economy is not slowing the way people fear. That’s where the upside comes in,” BTIG’s Julian Emanuel said Monday on CNBC’s “Trading Nation.” “We…
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GBP/USD dips as US government avoids another shutdown | City & Business | Finance
[ad_1] The GBP/USD pairing slowly fell back following news that Democrats and Republicans seemed to have reached an agreement over US border security, narrowly avoiding the threat of yet another government shutdown. The deal needs to be approved by Congress and signed by President Donald Trump, and although it is unclear whether approval will be…
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Pound euro exchange rate: GBP/EUR steadies as crumbling Eurozone worries Eurogroup | City & Business | Finance
[ad_1] The euro is plagued by on-going concerns over the slowing of the Eurozone economy, with many single currency traders remaining jittery on disappointing data releases. Mario Centeno, the chairman of Eurozone finance, commented ahead of yesterday’s Eurogroup meeting: “We know there is a temporary slowdown in our economies. We also know that most of…
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BREXIT ROW: Bankers ’STAGGERED’ at Treasury for IGNORING small business fears | City & Business | Finance
[ad_1] Three unnamed senior bankers told the Financial Times the Treasury had ignored requests from banks to provide support for SMEs, despite growing fears Britain tumbling out of the European Union without an agreement could disrupt their cashflow and trigger a sharp increase in loan defaults. SMEs are defined as employing fewer than 250 people…
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is Bitcoin bouncing back? Has cryptocurrency been written off too soon? | City & Business | Finance
[ad_1] The move, though relatively puny when one zooms out of the BTC chart, represented a significant step change in the decade-old crypto’s recent fortunes as the long-running bearish sentiment showed definite signs of a shift. Only a brave fool or a remarkable genius would suggest this is territory for a bear market to erupt,…
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Pound LIVE: GBP Sterling STEADY against euro and US dollar ahead of May’s CRUNCH speech | City & Business | Finance
[ad_1] The British currency has risen marginally against the euro to 1.1419 after opening at 1.14, before falling back close to thay initial price at 9am, according to Bloomberg. Pound Sterling had also made slight gains on the US dollar, increasing from its opening price by 13 cents to 1.2876 before falling to 1.2843 at 9am.…
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Gilead, RingCentral, Chegg and more
[ad_1] Check out the companies making headlines after the bell: Shares of Gilead dropped as much as 5 percent after hours after the biotech company released disappointing test results from one of its chronic liver disease drugs. The company said it was “disappointed” the study did not achieve its goal but they “remain committed to…
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WisdomTree reportedly explored a sale to JP Morgan last year
[ad_1] Matthew Lloyd I Bloomberg via Getty Images An employee watches a news broadcast on the trading floor at Panmure Gordon & Co. in London, U.K. WisdomTree Investments is said to have explored a sale to J.P. Morgan Chase last year, Bloomberg News reported. The news report, citing people familiar with the matter, said no…
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Avis Budget Group, Pfizer, Tesla
[ad_1] Check out the companies making headlines midday on Monday: Avis Budget Group — Shares of the car-rental company jumped 7 percent after Goldman Sachs upgraded it to buy from sell, citing an attractive valuation. The analyst also sees a 36.3 percent upside for Avis over the next 12 months. Electronic Arts — The video-game…
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Morgan Stanley just made its biggest deal since financial crisis
[ad_1] Morgan Stanley announced Monday it will buy Solium Capital, a Canadian company that prepares stock plans for start-ups, for $900 million. The Wall Street bank said it will pay $19.15 Canadian per share for Calgary-based Solium, adding it expects the transaction to close in the second quarter. The “goal will obviously be two-fold: 1)…
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Morgan Stanley, Restaurant Brands, Tesla, Walmart & more
[ad_1] Check out the companies making headlines before the bell: Morgan Stanley – Morgan Stanley is buying Canada-based employee stock plan manager Solium Capital for $900 million in cash. The deal is Morgan Stanley’s largest since the financial crisis. Restaurant Brands International – The parent of Tim Hortons, Popeyes, and Burger King reported adjusted quarterly…
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Brexit news: Labour leaders DEMAND £70BN investment for north in ATTACK on Westminster | City & Business | Finance
[ad_1] Mayor of Manchester Andy Burham and his Liverpool counterpart, Steve Rotherham, have teamed up wth Leeds City Council leader Judith Blake in an attempt to ensure the areas of the country are not neglected after the UK leaves the European Union. The trio, who’s communities cover 15 million people in England – more than…
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‘Crypto psychic’ claims power to predict bitcoin prices | City & Business | Finance
[ad_1] Now the crypto clairvoyant is offering trading advice on the likes of bitcoin and Ethereum on subscription website Patreon. She writes: “About a year ago, Spirit (an apparent reference to a spirit guide) started showing me coins of various colours to advise people to get involved with. “Knowing nothing about cryptos at the time,…
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South Africa oil discovery could be ‘GAME CHANGER’ and ‘major BOOST for the economy’
[ad_1] THE discovery of gas and condensate near South Africa could be a “game-changer” for the lucrative oil sector and provide a “major boost” for to the country’s economy. [ad_2] Source link
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Pound euro exchange rate: GBP/EUR shrugs off weak UK GDP figures
[ad_1] This morning the GBP/EUR exchange rate fell very slightly following the release of the latest UK GDP figures, and is currently trading at a rate of €1.142. The UK 2018 Q4 GDP figure revealed a slip to 0.2 percent growth, down from 0.6 percent in the previous quarter. [ad_2] Source link
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Pound US dollar exchange rate: GBP/USD fails to gain as US threatened by second government
[ad_1] The pound fell against the US dollar today, and is currently trading around down around 0.3 per cent at $1.289 as UK GDP figures disappointed. The pound struggled further today following after the publication of the quarterly UK 2018 Q4 GDP figures, which fell below expectation to 0.2 percent. [ad_2] Source link
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Pound LIVE: GBP Sterling DOWN against euro and dollar as markets brace for economic SLUMP | City & Business | Finance
[ad_1] Pound Sterling has already fallen 0.17 percent to 1.1412 after opening at 1.1426. The British currency has suffered similar deficit against the US dollar, falling 0.19 percent to 1.2920 after opening at 1.2946. It’s likely to be a vital day for the pound, with significant data being released this morning that will provide markets…
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Wells Fargo cuts rate hike forecast, bond yield targets
[ad_1] As bond yields fall on global growth fears, Wells Fargo is making some changes. This month, the firm cut both its year-end Federal Reserve interest rate hike forecast and bond yield targets. However, the firm’s global head of interest rate strategy said the decision has little to do with an economic slowdown abroad. “It…
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Third Point dissolves stakes in Netflix, Microsoft and Alibaba
[ad_1] Jacob Kepler/Bloomberg | Getty Images Daniel S. Loeb, Third Point Daniel Loeb’s Third Point dissolved its stakes in Netflix, Microsoft and Alibaba as of Dec. 31, according to a Friday filing with the Securities and Exchange Commission. The hedge fund previously held 1.25 million shares of Netflix, 4.1 million shares of Microsoft and 4.05…
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Trade could be the biggest catalyst in week ahead
[ad_1] The earnings deluge continues and inflation reports are due, but it will be the tone of trade talks in Beijing that could have the biggest impact on markets in the week ahead. [ad_2] Source link
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BofA CEO Moynihan gets raise to $26.5 million for record 2018 profit
[ad_1] Christopher Goodney | Bloomberg | Getty Images Brian Moynihan, Bank of America Bank of America CEO Brian Moynihan got a 15 percent raise, the biggest increase among bank chiefs to disclose pay so far, after the lender reported record earnings last year. Moynihan’s compensation rose to $26.5 million from $23 million in 2017, according…
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Trade war headlines could get much worse before they get better
[ad_1] “Next week is a very big week. Lighthizer is clearly a hawk,” said Tom Block, Washington strategist at Fundstrat. He said it will be important to see a positive tone after the meeting, as none of the other sessions have been downbeat. “They gave a good cop, bad cop team going over there. It…
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The fate of the market could be in the hands of the ‘Powell Put’
[ad_1] The chairman has expressed skepticism in the past about programs like quantitative easing, which helped push the Fed’s balance sheet past $4.5 trillion. And he has talked about the importance of giving the central bank enough ammunition to fight the next crisis, something that low interest rates would make more difficult. Strategist Noah Weisberger…
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Swap fuel deals plea as energy price cap rises | Personal Finance | Finance
[ad_1] Government regulator Ofgem sets maximum prices that can be charged for gas and electricity to those on default “standard variable” tariffs. The new cap, to start on April 1, could see these households typically pay an extra £117 a year. Energy auto-switching service Weflip said customers should quickly shop around for a better deal. Sally…
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Goodyear Tire, Skechers, Mattel & more
[ad_1] Luke Sharrett | Bloomberg | Getty Images A mechanic stacks used tires outside the service bay of a Goodyear Tire & Rubber Co. auto garage in Shelbyville, Kentucky. Check out the companies making headlines midday Friday: Skechers — The shoemaker’s stock jumped 18 percent after the company gave strong profit guidance for the quarter…
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German finance minister admits budget pressures as recession fears mount | City & Business | Finance
[ad_1] Olaf Scholz said the German economy – the biggest in the eurozone at £3.1trillion – was “continuing to move forward”, and employment is at a “truly remarkable high”. But he also admitted Germany’s public finances could come under pressure, with slowing growth bringing an end to a run of massive budget surpluses. He claimed…
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Wells Fargo says working to fully restore system as outage spills into day 2
[ad_1] Wells Fargo says ATM services have been restored and branches are operational as the effects of a system outage spilled into a second day. In a statement late Thursday night, the San Francisco bank said mobile and online banking systems were operational except for some features such as consumer credit card and mortgage balances,…
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Your first trade for Friday, February 8
[ad_1] The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of JPMorgan. Steve Grasso was a buyer of Westrock. Dan Nathan was a seller of Citigroup. Guy Adami was a buyer of Twitter. Trader disclosure: Tim Seymour is long AMZN, AAPL, ACBFF, AMZA, ACB, APC, APH, BA,…
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Hasbro, Sony, Visa & more
[ad_1] Check out the companies making headlines before the bell: Hasbro – The toy maker earned an adjusted $1.33 per share for its latest quarter, well below the consensus estimate of $1.67. Revenue was also below forecasts, with gaming revenue down 22 percent and partner brands revenue down 20 percent. Hasbro was hurt by a…
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Italy news: Industrial production falls AGAIN – fears over long-term recession | City & Business | Finance
[ad_1] The latest data from the Italian National Institute of Statistics (Istat) revealed output slumped 0.8 percent in December from November. This is in surprise contrast to projections of economists polled by Bloomberg and Reuters, who had forecasted a 0.4 percent gain. Industrial production plunged 5.5 percent on an annual basis – the biggest drop…
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Pound US Dollar exchange rate: GBP/USD drops as Trump delays China meeting | City & Business | Finance
[ad_1] Mr Bullard further stated that the central bank had no need to raise rates further in order to reach job and inflation targets. At the same time, President Donald Trump rattled risk markets when he seemed to delay talks with Chinese President XI Jinping deadline of the “trade truce”, commenting about when the meeting…
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Pound Euro exchange rate: GBP/EUR muted as German economy fights back | City & Business | Finance
[ad_1] This surprising turnaround in the trade figures meant the German trade surplus also widened to €19.4bn from €18.9bn in November. Meanwhile, British Prime Minister Theresa May will travel to Dublin for further discussions on the Irish backstop issue with Irish Taoiseach Leo Varadkar. Yesterday afternoon saw the GBP/EUR pairing rise, as the Bank of…
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Pound LIVE: GBP Sterling SURGES against euro as Germany falls into ‘RECESSION’ | City & Business | Finance
[ad_1] Theresa May’s spokesperson has confirmed Brexit Secretary Stephen Barclay will meet the EU’s chief Brexit negotiator Michel Barnier to discuss discuss alternative arrangements to the backstop. In addition, the prospect of Labour voting for a Brexit deal became more likely after the party softened its red lines and indicated it would work with the…
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Banks in Europe struggle to find talent with US rivals paying top dollar
[ad_1] The EU-wide bonus cap saw an impact not just on employee morale but also on hiring. Big European banks found it difficult to hire executives, especially when compared to U.S. banks where bonuses and fixed salaries can be higher. European banks are suffering from years of weak profits, massive fines, ultra-low monetary policy and…
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Skechers, Mattel, Columbia Sportswear and more
[ad_1] Check out the companies making headlines after the bell: Shares of Skechers surged more than 16 percent in extended trading after the company released fourth-quarter results that beat on its bottom line. The shoe company posted earnings of 31 cents per share, 8 cents more than consensus estimates of 23 cents per share. Despite…
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Street sees Q1 profits declining and full-year growth rates cut in half
[ad_1] Earnings growth is expected to turn negative for the first quarter, and an already low growth forecast for the rest of the year could be cut in half, as companies continue to report fourth quarter profits. Fourth quarter earnings growth has been strong, at about 16 percent, but companies are guiding lower when it…
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Federal judge tells traders they can combine cases accusing JP Morgan of rigging metals market
[ad_1] A group of traders from across the U.S. who allege that J. P. Morgan Chase manipulated precious metals markets for years are one step closer to bringing a class action suit against the nation’s largest bank. Earlier this month, a federal judge said five separate lawsuits making similar allegations against the bank could be…
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SunTrust, BB&T, Twitter, Sonos & more
[ad_1] Check out the companies making headlines before the bell: SunTrust, BB&T – BB&T is combining with SunTrust in a $66 billion merger of equals. SunTrust shareholders will get just under 1.3 BB&T shares for each share they now own, valuing SunTrust at $62.85 per share, a seven percent premium to yesterday’s close. Twitter –…
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A 10 to 30 percent market drop could hit Wall Street, David Tice warns
[ad_1] An investor known for running a bear fund is predicting a massive market setback. David Tice, who sold his Prudent Bear fund to Federated in 2008, describes 2019’s early bull run as a dead-cat bounce. “This is a rally inside a bear market,” he said Wednesday on CNBC’s “Trading Nation.” “We could have something…
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Dunkin’ Brands, Sonos, Chipotle & more
[ad_1] Check out the companies making headlines midday Thursday: Dunkin’ Brands – Shares of the restaurant operator dropped nearly 5 percent after the company reported revenue that missed estimates. Bad news also came from its U.S. comparable sales, which were flat compared to a consensus Refinitiv estimate of a 1.6 percent gain. For quarterly earnings,…
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CEOs open their boardrooms to activist hedge funds to keep others out
[ad_1] Large, institutional investors are also getting in on the trend. Ashland Global had been battling the hedge fund Cruiser Capital Advisors, which was seeking four seats on the chemical-company’s board. Neuberger Berman, another investor, swooped in a few weeks ago and made a separate deal to add two fresh directors on the board. Charles…
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Bank investors are looking everywhere for the next mega-deal
[ad_1] Analysts have long speculated that smaller banks needed to join forces to scale up their technology budgets as consumer preferences shift to mobile devices, but deals haven’t been happening. Completed bank mergers totalled $19.7 billion last year, the lowest in more than two decades, according to Refinitiv. Whether or not Thursday’s deal – the…
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CEOs of BB&T and SunTrust tell ‘client-facing’ employees not to worry
[ad_1] The biggest banking merger in a decade between regional powerhouses BB&T and SunTrust Banks won’t result in job cuts for employees who deal with customers, the CEOs promised Thursday on CNBC. “We are saying to our client-facing performing associates, ‘Don’t worry, you have a job,’” said BB&T Chairman and CEO Kelly King on behalf…
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Wells Fargo reports outage on mobile app and online banking
[ad_1] Spencer Platt | Getty Images People walk by a Wells Fargo bank branch on October 13, 2017 in New York City. Wells Fargo said Thursday that customers are unable to log in to mobile and online banking and it was investigating the cause of the outage. In a post on Twitter, the San Francisco-based…
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Biggest bank merger in a decade comes as industry faces ‘tough’ growth outlook
[ad_1] The banking industry is heading into a difficult environment of slimmer margins and a slower economy and that’s why lenders are teaming up, analysts said. On Thursday, BB&T announced it will buy SunTrust Banks for $28.24 billion in an all-stock deal, or a 7 percent premium of $62.85 per share. The merged company will…
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Euro news: German output slumps AGAIN – fears grow for bloc’s largest economy | City & Business | Finance
[ad_1] The latest data from the country’s Federal Statistics Office revealed industrial output was down 0.4 percent on November. This was in complete contrast to a forecast from Reuters for an increase of 0.7 percent. Industrial output was also down 3.9 percent on the same month a year earlier. The latest blow to the economy…
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These are the 10 biggest banks in the country now after the BB&T-SunTrust merger
[ad_1] The so-called “merger of equals” was valued at $66 billion, the biggest bank deal since the financial crisis. The combined company will operate under a new name and have around $442 billion in assets, $301 billion in loans and $324 billion in deposits. Wall Street players have been calling for the consolidation of regional…
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Your first trade for Thursday, February 7
[ad_1] The “Fast Money” traders shared their first moves for the market open. Pete Najarian was a buyer of Array Biopharma. Karen Finerman was a buyer of the CBOE Volatility Index. Brian Kelly was a buyer of AMD. Tim Seymour was a buyer of the Oil Services ETF. Trader disclosure: Pete Najarian is long calls…
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Energy PRICE CAP: Energy prices RISE – how much will YOUR gas and electric bill rise? | Personal Finance | Finance
[ad_1] More than half of British households will get more expensive energy bills in April after the Office of Gas and Electricity Markets (Ofgem) increased the price cap. The Government office sets maximum prices that can be charged for gas and electricity to those who have not switched suppliers and are on default tariffs. Ofgem…
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Eurozone news: Growth forecast SLASHED – fears mount for Europe’s biggest economies | City & Business | Finance
[ad_1] In its latest quarterly forecasts the Commssion warned eurozone growth will slow to 1.3 percent this year from 1.9 percent in 2018. Growth is expected to rebound slightly to 1.6 percent in 2020, but alarm bells will be ringing throughout the bloc as the new estimates are less optimistic than the Commission’s previous forecasts.…
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Bitcoin nosedived – but don’t panic: It’s not that bad | City & Business | Finance
[ad_1] Cryptocurrencies across the board – Ethereum, Bitcoin Cash, Litecoin, Cardano, EOS, Ripple, the lot – all took a serious price hit and fell down a step to the next level where they flatlined for much of the day. It was only two weeks ago that bitcoin dropped by a hundred dollars overnight after a…
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Bank of England DOWNGRADES UK growth to lowest level since financial crash | City & Business | Finance
[ad_1] The Bank slashed this year’s growth forecast to 1.2 percent – the lowest since 2009, when the economy slumped 4.2 percent at the height of the recession. This shock downgrade compares with 1.7 percent predicted in Novermber, while the Bank has also cut its outlook for 2020 to 1.5 percent. The gloomy outlook came…
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Pound euro exchange rate: GBP/EUR steadies as traders brace for BoE interest rate decision | City & Business | Finance
[ad_1] Sterling failed to gain against the euro today as pound traders brace for the Bank of England’s (BoE) interest rate decision at midday. Concerns surrounding the decision have heightened due to increasing Brexit uncertainty and poor UK services PMI figures this week, with fears that the BoE may become dovish about the immediate future of…
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Pound US dollar exchange rate: USD buoyed as Fed says US economy “in a good place” | City & Business | Finance
[ad_1] The pound US dollar exchange rate has continued to slip from yesterday’s modest gains, with Sterling taking a hit this morning due to Brexit anxieties and some poor Halifax house price figures. This comes as Theresa May travels to Brussels for further discussions on the Brexit withdrawal agreement with EC President Jean Claude Juncker, although…
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House prices TUMBLE to biggest drop in NINE MONTHS as market braces for Brexit | City & Business | Finance
[ad_1] Data from British bank Halifax showed they fell 2.9 percent month-by-month in January to £223,691, compared to a 2.5 percent rise in December to £230,430. Despite this, house prices were up 0.8 percent in the three months to January compared to the same period a year ago. But they remained largely unchanged over the…
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Pound LIVE: GBP Sterling HOLDS against euro ahead of CRUNCH Brexit and interest rate talks | City & Business | Finance
[ad_1] Pound Sterling is trading at 1.1373 against the euro – marginally down from 1.1380 in early morning trading. But the British currency is continuing to struggle against the US dollar, trading at 1.2910 after opening at 1.2933. It is a crucial day for the pound, with markets braced for a potentially major breakthrough in…
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Fed’s Powell reveals biggest economic challenge over the next decade
[ad_1] Yuri Gripas | Reuters Federal Reserve Board Chairman Jerome Powell speaks during his news conference after a Federal Open Market Committee meeting in Washington, December 19, 2018. Sluggish productivity and widening wealth gap are the biggest challenges facing the U.S. over the next decade, Federal Reserve Chairman Jerome Powell said Wednesday. Speaking at a…
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Economists boost Q4 growth closer to 3% as trade war hits imports
[ad_1] Economists boosted their forecasts for U.S. fourth quarter growth Wednesday, after a surprise narrowing of the trade gap in November due to a drop in imports. Several economists said the decline was likely a direct result of the trade war with China, and nudges U.S. growth higher, at least temporarily, while China is slowing.…
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Chipotle, Sonos, GoPro and more
[ad_1] Check out the companies making headlines after the bell: Shares of Chipotle rose as much as 10 percent in extended trading Wednesday after the company reported earnings that beat Wall Street’s expectations. The restaurant chain earned $1.72 per share on revenue of $1.23 billion, versus $1.37 on revenue of $1.19 billion, according to a…
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Eli Lilly, Humana, Disney, Spotify & more
[ad_1] Check out the companies making headlines before the bell: Eli Lilly – The drugmaker reported adjusted quarterly profit of $1.33 per share, falling a penny a share below estimates. Revenue beat forecasts as its newer drugs posted higher sales. Lilly also cut its full-year forecast relating to its pending acquisition of Loxo Oncology. Aphria…
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Janet Yellen worries Trump comments could hurt confidence
[ad_1] Former Federal Reserve Chair Janet Yellen defended the central bank’s independence after months of strong criticism from President Donald Trump. “It is important for the Fed to be viewed as independent, and I worry that the comments threaten public confidence,” Yellen told CNBC’s Steve Liesman on Power Lunch Wednesday. “It’s important for the public…
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Council tax increase SHOCK: Will YOUR council tax bill go up this year? | Personal Finance | Finance
[ad_1] Local Government Secretary James Brokenshire announced the council tax hike this week. Local authorities are being given the freedom to increase the bills to provide an extra £1.3 billion cash injection to help both social care and roads. Mr Brokenshire said the amount this will take the overall fund to £46.4 billion next year…
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Analyst behind bearish bitcoin note predicts comeback
[ad_1] Bitcoin fever could return to Wall Street. The J.P. Morgan analyst behind a report that found major firms are losing interest in cryptocurrencies isn’t ruling out renewed interest. Nikolaos Panigirtzoglou wrote on December 15 that participation by financial institutions in bitcoin trading was fading. On Tuesday, he said on CNBC’s “Futures Now” that the…
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Snap, Electronic Arts, Skyworks & more
[ad_1] Check out the companies making headlines midday Wednesday: Capri Holdings — Shares of the company that owns Michael Kors, Versace and Jimmy Choo jumed 11.88 percent for the day after the company reported earnings that beat expectations. Capri Holdings also said Jimmy Choo and Versace sales were strong. Skyworks Solutions — Shares of the…
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Earnings forecasts are very negative but here’s why it’s not all bad
[ad_1] “For the typical company, are they seeing a problem? The answer is not really. You can get a few bad apples distort the underlying trend,” said Patrick Palfrey, U.S. equities strategist at Credit Suisse. Palfrey said many companies could be growing at 5 percent to 6 percent, above the trend of very low single…
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Savers must rise to the challenge or face low interest rates | Personal Finance | Finance
[ad_1] While the new generation of “challenger” banks are offering best buy rates online, rates on the high street can be derisory. Yesterday it emerged that long-suffering savers, reluctant to use online accounts, may struggle to get a decent return even if interest rates finally start to climb after a decade in the doldrums. If you…
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A scary pullback could wipe out 2019’s early gains: Ned Davis Research
[ad_1] A 2018 market bear sees reasons turn positive on stocks, but he warns a deep pullback threat remains. Ned Davis Research’s Ed Clissold suggests investors shouldn’t get sidetracked by the year’s strong market kickoff. According to Clissold, a bottoming process is still underway. “We’ve been gradually getting more positive as the markets improved over…
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Powell gave Trump overview of economy at White House dinner
[ad_1] Federal Reserve Chairman Jerome Powell’s recent dinner with President Donald Trump at the White House was “very casual,” Treasury Secretary Steven Mnuchin said Wednesday. “Chairman Powell gave the president an overview of the economy and what he was seeing, which was quite strong and consistent with his public comments,” Mnuchin said on CNBC’s “Squawk…
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Your first trade for Wednesday, February 6
[ad_1] The “Fast Money” traders shared their first moves for the market open. Pete Najarian was a buyer of the Brazil ETF. Karen Finerman was a buyer of FedEx. Mark Tepper was a buyer of O’Reilly Automotive. Dan Nathan was a buyer of Electronic Arts. Trader disclosure: Pete Najarian is long calls AA, EEM, EBAY,…
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Investors swindled out of £197million by fraudsters | Personal Finance | Finance
[ad_1] And the fraud reporting centre fears that more could fall victim in the peak investment season between now and the end of the tax year in April. The average loss last year was over £29,000, as fraudsters used increasingly sophisticated tactics to persuade victims to hand over money, including fake credentials, websites made to…
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Brexit news: Bank of England ‘PARALYSED’ on interest rates – shock warning | City & Business | Finance
[ad_1] On Thursday, leading lawmakers from country’s central bank will meet in London to decide what happens next with interest rates and the economy as a whole. Rates are likely to remain steady at 0.75 percent, although any dovish comments from BoE Governor Mark Carney may dampen sentiment in the pound. Paul Dales, of consultancy…
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Venezuela CRISIS: Black market SPIRALLING as INFLATION looms – what can bolivar buy YOU | City & Business | Finance
[ad_1] The Venezuelan currency is currently extremely unstable following a severe economic downfall. Venezuela, where dueling presidents reign are causing a political chaos, cash has become so worthless Nicolas Maduro, who is now facing challenges as the country’s interim leader, declared a state of emergency in 2016. That year the inflation rate hit 800 percent.…
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4 of the 5 most affordable retirement spots are in Florida
[ad_1] When 55places.com, an online resource for active adult communities in the U.S., identified the most affordable places to retire in 2019, one sun-drenched state — Florida — stood out by landing four of the top five spots, if not the No. 1 perch itself, which goes to the most populous city in a much…
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Euro news: Germany ‘drifting towards RECESSION’ – shock Deutsche Bank warning | City & Business | Finance
[ad_1] The country’s biggest bank made the shock assessment in a new report, highlighting recent trends painting a damaging economic picture. Deutsche Bank expects the Eurozone’s largest economy, valued at £3.1trillion, to contract further during this quarter, with new business surveys pointing towards souring moods at companies and worsening expectations for new orders. Economists, including…
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Bonds and stocks going up together could be signaling market at an inflection point
[ad_1] Investors are buying into the riskiness of stocks, but they’re also buying the security of the bond market. That’s not the usual course for markets, but it has happened before. The conflicting investment trend comes after the Federal Reserve made an about face on its tightening policy, making risk assets more attractive. It also…
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Pound US dollar exchange rate: GBP/USD rangebound after Trump inflames Congress | City & Business | Finance
[ad_1] Mr Trump said: “We must reject the politics of revenge, resistance and retribution… [and meet] the agenda of the American people.” The stalemate between the White House and Congress over crucial funding for the Mexican border wall has remained in place after Mr Trump’s speech, with US dollar traders marking time as they prepare…
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Crypto Exchange CEO’s widow feels ‘hounded’ by accusations that death was faked | City & Business | Finance
[ad_1] The death was announced by the company in mid-January, almost a month later. However, the reaction from investors and customers of what is Canada’s biggest cryptocurrency exchange has largely been one of mounting anger with many even suggesting 30-year-old Mr Cotten faked his own death. “But it’s simply not true – this has been a tragedy…
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Pound euro exchange rate: plunging German factory orders sees euro sink | City & Business | Finance
[ad_1] German factory orders plunged a further -1.6 percent, despite a forecast predicting that orders would actually grow in December; the data showed that this was likely due to orders from outside the bloc falling by -5.5 percent while domestic orders slipped by -0.6 per cent. This fuelled further fears that the German economy is heading…
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Pound LIVE: GBP Sterling hits TWO-WEEK LOW against US dollar as markets await Brexit boost | City & Business | Finance
[ad_1] Pound Sterling fell to $1.2923 in early morning trade as uncertainty around Brexit talks continues to rattle investor nerves. The currency has remained relatively flat against the euro at €1.1360. Theresa May is in Northern Ireland for a second day where she is expected to meet the DUP and Sinn Fein as she steps…
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Profits in first quarter expected to decline as company outlooks slip
[ad_1] For investors cheering this earnings season, there could be trouble ahead. As the fourth-quarter results roll in, the S&P 500 is poised to post an average earnings growth rate of 12.4 percent, the fifth straight quarter of double-digit growth. These results have boosted the stock market, with the S&P 500 enjoying its best January…
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Profits in first quarter expected to decline as company outlooks slip
[ad_1] For investors cheering this earnings season, there could be trouble ahead. As the fourth-quarter results roll in, the S&P 500 is poised to post an average earnings growth rate of 12.4 percent, the fifth straight quarter of double-digit growth. These results have boosted the stock market, with the S&P 500 enjoying its best January…
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Viacom, Centene, Merck, Alphabet & more
[ad_1] Check out the companies making headlines before the bell: Viacom – The media company earned an adjusted $1.12 per share for its latest quarter, 9 cents a share above estimates. Revenue fell short of forecasts, however, as domestic advertising sales declined. Estee Lauder – The cosmetics company beat estimates by 19 cents a share,…
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This earnings trend hasn’t happened since beginning of bull market
[ad_1] Independent research firm Bespoke Investment has uncovered an earnings trend that hasn’t happened since the bull market started. According to its co-founder Paul Hickey, companies are seeing their strongest stock price performances on the days they’re reporting earnings in a decade. “The average return of companies reporting earnings so far this earnings season has…
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Your first trade for Tuesday, February 5
[ad_1] The “Fast Money” traders shared their first moves for the market open. Carter Worth was a buyer of the Russell 2000 ETF. Steve Grasso was a buyer of the Health Care ETF. Mark Tepper was a seller of Tesla. Dan Nathan was a buyer of Sirius XM. Trader disclosure: Steve Grasso is long stock…
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Ex-Manchester United boss Jose Mourinho settles tax fraud case
[ad_1] Matthew Peters | Manchester United | Getty Images Manager Jose Mourinho of Manchester United watches from the touchline during the Premier League match between Manchester United and Leicester City at Old Trafford on August 10, 2018 in Manchester, United Kingdom. Former Real Madrid and Manchester United manager Jose Mourinho accepted a one-year prison sentence…
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If you missed January rally, you likely missed 2019 gain
[ad_1] Markets started out the year with a significant bounce, but investors who missed out on it might not get a second chance, according to Goldman Sachs. The firm is predicting lower returns after the best January in 30 years, and warned that those who missed it risk “missing the bulk of the returns for…
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Biggest buyback offenders that could be flagged by Schumer-Sanders
[ad_1] These companies have come under the spotlight after prominent lawmakers criticized the buyback practice, saying it widens the wealth gap and claiming repurchase programs tend to divert resources away from workers. Senate Democratic leader Charles Schumer of New York and Sen. Bernie Sanders of Vermont are calling for legislation that would prevent companies from…
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SNAP, DIS, EA and more
[ad_1] BRYAN R. SMITH | AFP | Getty Images Traders work on the floor during the Snap Inc. IPO at the New York Stock Exchange, March 2, 2017, in New York. Check out the companies making headlines after the bell: Shares of Snap soared as much as 21 percent Tuesday following their fourth-quarter earnings beat.…
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The Powell-Trump meeting ‘mostly just politics’ but is helping soothe the market
[ad_1] A meeting of the minds between Powell and the president matters “at a very high level, because it affects perception,” said Christopher Whalen, head of Whalen Global Advisors. “There are investors who think that’s important, but I think the fundamentals underneath, particularly the credit markets, are what’s really driving things.” Getting the president more…
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Estee Lauder, Ralph Lauren, Alphabet & more
[ad_1] Check out the companies making headlines midday Tuesday: Estee Lauder — Shares of Estee Lauder jumped more than 11 percent after the company reported better-than-expected earnings and revenue. Estee Lauder also raised its earnings guidance for 2019. Ralph Lauren — Shares of the fashion company surged more than 8 percent Tuesday after it posted…
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These stocks are expected to be the winners and losers in President Trump’s State of the Union
[ad_1] Infrastructure names could be winners and pharmaceutical stocks losers in President Donald Trump‘s State of the Union speech Tuesday night if he goes after two areas where Wall Street strategists expect there might be some bipartisan support. Trump may also tout defense spending, and he may mention progress on trade talks with China after…
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Silver savers lose out as banks move the best deals online | Personal Finance | Finance
[ad_1] The row was sparked by a report which found 34 per cent of easy access savings deals on the market offer no branch access. Those savers who have yet to get online, such as older “silver savers”, could find themselves missing out. Based on someone with £10,000 to put away, the top easy access…
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Eurozone news: Italy service sector hit as growth stagnates – job cuts reported | City & Business | Finance
[ad_1] Italian service providers saw business fall in January prompting two firms to cut staff for the first time in more than two years, Bloomberg reports. A drop in domestic demand combined with falling export orders were blamed for the job cuts. This latest bad news comes after it emerged Italy’s economy slipped into recession…
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Eurozone news: Investor confidence slumps to FOUR-YEAR LOW | City & Business | Finance
[ad_1] The Sentix Economic Index, which surveyed 1,004 investors between January 31 and February 2, fell from -1.5 points last month to -3.7 during the current period. This is the lowest since November 2014 and the sixth successive month of decline, with the Index having being as high as +12 in September. Frankfurt-based research house…
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Pound US dollar exchange rate: GBP/USD slips as UK economy runs risk of stalling | City & Business | Finance
[ad_1] The study found that business activity stagnated, and levels of staffing declined for the first time since December 2012; following this the pound US dollar exchange rate dropped lower. Chris Williamson, the Chief Business Economist at IHS Markit blamed Brexit for the poor figure, stating: “The latest PMI survey results indicate that the UK…
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Euro news: Brussels warns Spanish debt could SKYROCKET to 107percent by 2029 | City & Business | Finance
[ad_1] In the latest Fiscal Sustainability Report, Brussels, which is expecting the European Union as a whole to reduce their public debt from 81 percent to 72 percent of GDP within the next decade, has warned how this could be unsustainable in the medium term for seven countries. The new report highlights the high risk…
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Pound euro exchange rate: GBP/EUR in tug of war as UK services plummet & Eurozone suffers | City & Business | Finance
[ad_1] Chris Williamson, a Chief Business Economist at HIS Markit, commented: “The latest PMI survey results indicate that the UK economy is at risk of stalling or worse as escalating Brexit uncertainty coincides with a wider slower slowdown in the global economy.” The losses were muted somewhat by the earlier publication of the UK BRC…
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GBP Sterling steady against euro as May heads to Belfast for Brexit talks | City & Business | Finance
[ad_1] Pound Sterling remained broadly flat against the euro at €1.14 this morning, as the Prime Minister travels to Belfast for two days of talks. But the GBP dipped to a two week low against the US dollar, slipping to $1.3013 from an early morning trading price of $1.3036. The sharp fall came after the…
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HMV store closures: 27 shops to close IMMEDIATELY after Canadian rescue | City & Business | Finance
[ad_1] Sunrise beat off competition from the likes of UK business tycoon Mike Ashley for the crisis-hit firm. The Canadian retail giant will buy 100 of HMV’s stores securing nearly 1,500 jobs, but 27 unprofitable shops will close immediately, resulting in 455 redundancies. KPMG, which oversaw the process, will retain a further 122 employees at…
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Is Bitcoin gearing up for a surprise comeback? | City & Business | Finance
[ad_1] A lack of volume, a string of historic patterns and a growing market apathy had combined to send BTC tumbling from a reasonably strong sideways movement along $6,500 for much of 2018 to below $4,000 over the festive period. When it crumbled into $3,400 a couple of weeks ago, the general consensus was that…
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Project Fear exposed: Gloomy predictions of City exodus fail to materialise | City & Business | Finance
[ad_1] Experts had predicted 5,766 people would be moved in the event of a no-deal Brexit in the last survey in September. But a new survey published by Reuters today suggested about 2,000 roles are expected to have moved or been created overseas even as the risk of a disorderly exit grows. This new estimate is about…
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Fed Chairman Powell met with Trump over dinner to discuss the economy
[ad_1] Andrew Harrer | Bloomberg | Getty Images Jerome Powell, chairman of the U.S. Federal Reserve, speaks during a news conference following a Federal Open Market Committee (FOMC) meeting in Washington, D.C., U.S., on Wednesday, Dec. 19, 2018. Federal Reserve Chairman Jerome Powell sat down with President Donald Trump on Monday. That marked their first…
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Papa John’s, Spotify, Clorox, Yelp & more
[ad_1] Check out the companies making headlines before the bell: Papa John’s Pizza – Activist investor Starboard Value has taken a $200 million stake in the pizza chain, and Starboard CEO Jeffrey Smith will be named chairman. Starboard said the investment follows the conclusion of a strategic review by the company that positions it for…
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Stocks making the biggest moves after hours: Alphabet, Gilead and more
[ad_1] Check out the companies making headlines after the bell: Shares of Alphabet dropped more than 3 percent in extended trading on Monday despite beating on its top and bottom lines. The Google-parent company’s earnings per share were $12.77, well above estimates of $10.82. The company earned $39.28 billion in revenue, beating the $38.93 billion…
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One-time bond king Bill Gross to retire from Janus Henderson
[ad_1] Bill Gross, the one-time bond king who built investing giant Pimco from the ground up 48 years ago then went on to run his own fund at Janus Henderson, announced his retirement Monday. The retirement, effective March 1, marks the end of an era, closing a career for a fixed income expert who once…
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Three options strategies for the week: February 4, 2019
[ad_1] The “Options Action” traders share three options trading strategies to kick off the week. Mike Khouw and Carter Worth think Chipotle could be set for a drop. Meanwhile, the duo also highlighted a put calendar strategy in Alphabet. Dan Nathan highlighted a put spread strategy in Expedia. [ad_2] Source link
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Bitcoin price: New BTC chart shows HOPE for struggling cryptocurrency | City & Business | Finance
[ad_1] Bitcoin began January buoyantly, showing optimistic signs of stability. However, the flagship cryptocurrency soon returned to its downward trend and BTC is currently valued at £2,615 ($3,413), as of 5.45pm, on February 4, 2019, according to CoinBase.com data. But evidence is now emerging to suggest the bitcoin sell-off is ending, fuelling bullish sentiment for…
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Eurozone news: EU lenders face MAJOR threat from Italy’s debt crisis | City & Business | Finance
[ad_1] Domestic banks in the Mediterranean nation are already encumbered with some £1.3 trillion (€1.5 trillion) of public debt as the cash-strapped government in Rome grapple with a weak economy which tumbled back into recession at the end of last year. But in addition to the eye-watering figures on the books of Italian banks, financial…
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It’s becoming the best earnings season in 9 years for stock reaction
[ad_1] However, investors might have been just ignoring the bad news because the growth estimates in 2019 are pointing to a big deceleration. Wall Street analysts are slashing their estimates for the next quarter at a record pace. According to FactSet, the first-quarter bottom-up earnings per share estimate has dropped by 4.1 percent during January,…
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Papa John’s, Sysco, Clorox & more
[ad_1] Check out the companies making headlines midday Monday: Papa John’s — Shares of the embattled pizza maker rose more than 12 percent after the company announced Starboard Value has taken a $200 million stake in the company. Starboard CEO Jeffrey Smith was also named the new Papa John’s chairman. Maxwell Technologies — Tesla announced…
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Venezuela crisis: Oil prices hit TWO-MONTH HIGH as strained relations hit commodity market | City & Business | Finance
[ad_1] Brent crude futures have risen to $64 a barrel as OPEC-led supply cuts and sanctions from the US against the country’s petroleum industry offset forecasts of weaker demand and an economic slowdown. The sanctions came into force on Monday and ban US companies from exporting goods or services to the country’s state-run oil company,…
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Ryanair slumps to FIRST LOSS since March 2014 – share price plummets | City & Business | Finance
[ad_1] The loss, which the budget airline attributed to cheaper-then-expected air fares, compared to a profit of £92.4 million in the same period a year ago. Ryanair also blamed excess winter capacity in Europe for six percent reduction in average fares to under €30, while it has also had to contend with higher costs from…
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Italy news: Government borrowing surges to THREE-WEEK HIGH as recession impact deepens | City & Business | Finance
[ad_1] The country’s 10-year yield rose almost eight basis points to 2.806 percent on Monday morning before falling to 2.72 percent – down by just one basis point on the day. Bonds began to find more stable ground following a heavy selloff, with two- and five-year yields also slightly lower on the day. But despite…
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Debenhams could close 20 stores THIS YEAR as it enters CRUNCH TALKS with banks | City & Business | Finance
[ad_1] According to a report from the BBC, the department store chain could make the move through a company voluntary arrangement (CVA). This would allow the company to renegotiate its rent payments with landlords and accelerate the closure of shops. The report added the company could be running out of headroom on its £520million borrowing…
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Pound US dollar exchange rate: GBP/USD down despite Trump threatening ‘national emergency’ | City & Business | Finance
[ad_1] Mr Trump tweeted yesterday:“[Democrats] do nothing. If there is no Wall, there is no Security. Human Trafficking, Drugs and Criminals of all dimensions – KEEP OUT!” US markets are becoming increasing cautious with any signs of a political flare up between the White House and the House of Representatives likely denting the US economy…
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Pound euro exchange rate: Brexit blamed for slowing UK construction sector | City & Business | Finance
[ad_1] Referencing the figures, Duncan Brock, the Group Director at the Chartered Institute of Procurement and Supply blamed Brexit, stating: “The sector suffered a sharp drop in output growth in January, and the softest rise in purchasing volumes since September 2017, as Brexit continues to hamper progress and dampen client confidence. “The biggest shock came…
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Pound LIVE: GBP Sterling steady against euro as UK makes BACKUP BREXIT PLAN | City & Business | Finance
[ad_1] Sterling was trading at €1.1418 this morning as analysts brace themselves for any potential breakthrough in the Brexit deadlock. Remain and Tory MPs are meeting Brexit Secretary Steve Barclay this morning to discuss the so-called Malthouse compromise, as an alternative arrangement to the Irish backstop. Hardline eurosceptics in the European Research Group and Remain-supporting…
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HSBC and Goldman Sachs back fintech firm Bud’s Series A funding round
[ad_1] British fintech start-up Bud said Monday that it had secured $20 million in a funding round co-led by HSBC and Goldman Sachs. The London-based company’s platform lets banks update their apps to give users access to financial services products from rivals. Banks can also categorize a customer’s spending data using Bud’s technology to help…
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Johnson & Johnson’s revamp: ‘Gentlest baby range in the world’ | City & Business | Finance
[ad_1] The US-owned multinational claims to have created “the gentlest baby products in the world” as it unveils 50 new clinically tested lines to meet the needs of today’s modern parents. More than 400 ingredients were rejected during the revamp to produce simpler, gentler products free from parabens, sulphates and dyes. They have also been…
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Euro CRISIS: Eurozone ‘staring over the precipice of a recession’ | City & Business | Finance
[ad_1] The eurozone economy recorded its joint-weakest growth in four years this week in the latest of the dreary economic data to hit the bloc. Italy officially announced on Thursday it had plunged into a recession, sparking fears it could have a crippling effect on the rest of the eurozone economies. Gross domestic product (GDP)…
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Bundling could really help Buzzfeed, Vice, digital media outlets
[ad_1] It’s a dark time for online publishers. This week alone, hundreds of journalists and other employees were laid off by BuzzFeed, Verizon Media Group (which includes HuffPo and Yahoo) and Vice Media. The perils of digital media are well documented. As advertising dollars shift online, the vast majority of the growth is going to…
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Maxine Waters on looking into Deutsche Bank, money laundering, Trump
[ad_1] CNBC’s John Harwood sat down with Rep. Maxine Waters, D-Calif., who is the new chairwoman of the House Financial Services Committee. They discussed the joint investigation into Deutsche Bank and money laundering, and how it might connect to the Trump administration. John Harwood: What is your objective in the joint investigation that you plan…
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Rep. Maxine Waters says CEOs should make diversity a priority
[ad_1] CNBC’s John Harwood sat down with Rep. Maxine Waters, D-Calif., new chairwoman of the House Financial Service Committee, to discuss diversity and closing the gap on income inequality. John Harwood: When you were born there was one African-American in Congress, just a couple of women. Now you’re the chair of this committee. How does…
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Maxine Waters gets ready to oversee Wall Street titans in new House role
[ad_1] Maxine Waters: First of all, you have to pay attention to the way that the president himself has defined himself. He has defined himself as someone that you can’t trust, that does not tell the truth, and that will change his mind and tweet something one day and the opposite the next day. It’s…
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Jobs report removes some fear, but market still in ‘tug of war’ over how much growth is slowing
[ad_1] After January’s strong jobs report calmed some recession fears, investors will be picking through the next wave of earnings reports and economic data for clues on just how much the U.S. economy could be slowing. Dozens of earnings, from companies like Alphabet, Disney and Eli Lily, report in the week ahead, and there are…
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Goldman could withhold some 2018 pay for top executives over Malaysia scandal
[ad_1] Michael Nagle | Bloomberg | Getty Images Lloyd Blankfein, chairman and chief executive officer of Goldman Sachs Group Goldman Sachs said it could withhold some pay from top executives as a result of the ongoing Malaysian regulatory probe. The Wall Street firm said in a regulatory filing Friday its board of directors had approved…
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Where Rep. Maxine Waters stands on raising taxes on the rich
[ad_1] CNBC’s John Harwood sat down with Rep. Maxine Waters, D-Calif., new chairwoman of the House Financial Services Committee, to talk about taxes and whether the rich should pay more. Here’s what she said. John Harwood: Your new colleague, Alexandria Ocasio-Cortez, who’s going to be on your committee. She’s talked about a 70 percent top…
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As goes January, so goes the year for Wall Street
[ad_1] Stocks did well through most of January 2018, but by the end of the month, a correction started. “On January 30, in 2018, it was the first 1 percent decline in 112 days. That was basically the start of the fall off the cliff. In terms of percent gains, this January is similar to…
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Amazon, Merck, Cigna, Honeywell & more
[ad_1] Check out the companies making headlines before the bell: Merck – Merck earned an adjusted $1.04 per share for the fourth quarter, beating estimates by a penny a share. Revenue came in very slightly above Wall Street forecasts. Sales of the company’s Keytruda cancer drug jumped 66 percent from a year earlier. Cigna –…
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Auto loan rates are some of the highest in a decade. How to save
[ad_1] Used cars are typically less expensive than new ones, and so the loans for them are often smaller, said Philip Reed, an automotive writer at personal finance website NerdWallet. “If you turn on the football game, you will be brainwashed into thinking you need a new car,” Reed said. “People don’t understand how reliable…
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Listen to the new single from Goldman CEO Solomon, AKA DJ ‘D-Sol’
[ad_1] Goldman Sachs CEO David Solomon has had a busy few weeks running one of the world’s premier investment banks, but that hasn’t stopped him from releasing a new dance single. Solomon, who goes by DJ D-Sol, last month released a follow-up to his first single “Don’t Stop.” The up-beat tune is called “Feel Alive,”…
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Recession fears seem overblown according to January’s ‘scorching’ jobs and manufacturing data
[ad_1] The unemployment rate ticked up to 4 percent from 3.9 percent, as more workers looked for jobs.December’s payrolls were revised down to 222,000 from 312,000, but November was revised higher to 196,000 from 176,000. “Who is calling for a recession this year again? Whoever it is, you can forget about it after a picture-perfect…
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Amazon, Merck, Exxon Mobil & more
[ad_1] Check out the companies making headlines midday Friday: Papa John’s — The third-largest pizza delivery company saw its stock fall 8 percent after Reuters reported Papa John’s would not sell itself, despite offers from private equity firms. The firm’s offers reportedly did not meet Papa John’s valuation expectations. Exxon Mobil — Shares of Exxon…
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These 7 recession-proof cities can offer security in an economic slump
[ad_1] Worried that the relatively rosy economic times may soon be over? You’re not alone. A recent survey from Duke University found that half of U.S. CEOs surveyed expect a recession to kick in by the end of this year, and even more — 82 percent — are sure a slump will hit by the…
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Shell's £4.3bn profit fuels anger
[ad_1] FUEL giant Shell came under fire yesterday after unveiling a 36 percent profit leap – while “exploiting hardworking motorists”. [ad_2] Source link
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Germany manufacturing PLUNGES into the RED as factory activity disappoints | City & Business | Finance
[ad_1] Factory activity was lower than expected for Europe’s largest economy, dropping to 49.7 points in January from 51.5 in December. A reading below 50 marks a sign of contraction. The bleak figures, revealed today by IHS Markit and the latest in the strong of a sign of a slowdown for Germany, showed the steepest…
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Your first trade for Friday, February 1
[ad_1] The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of Home Depot. Karen Finerman was a buyer of FedEx. Dan Nathan was a buyer of Canada Goose. Guy Adami was a buyer of GW Pharmaceuticals. Trader disclosure: Tim Seymour is long AMZN, AAPL, ACBFF, AMZA, ACB,…
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Premium Bonds winning numbers February 2019: Have YOU won? | Personal Finance | Finance
[ad_1] Premium bond prizes have this month granted two people a hefty million-pound sum, and 200 people with amounts ranging from £5,000 to £100,000. The monthly premium bond releases are chosen by the Electronic Random Number Indicator Equipment (ERNIE), from a prize pot worth millions. Since it was invented in 1956, ERNIE has chosen millions…
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UK recession WARNING for manufacturing sector after WEAK data: ‘Distinct possibility’ | City & Business | Finance
[ad_1] The Markit-CIPS UK manufacturing purchasing managers’ index (PMI) showed a reading of 52.8 last month, lower than the 54.2 recorded in December. It represents a three-month low and the second weakest reading since July 2016, the month after Britain voted to quit the EU. While a figure above 50 indicates growth, economists were expecting…
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Bitcoin ON THE ROPES – but is a COMEBACK on the cards? – Analysis | City & Business | Finance
[ad_1] The battle of the $3,400 line has, frankly, resembled a resolute Rocky taking on the lifelong-trained fighting machine Ivan Drago. When bitcoin stepped through the ropes at the start of this week, the bookmakers weren’t fancying its chances. Weighing in at a malnourished $3,500 it was looking out-of-shape with a string of defeats from…
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Italy CRISIS deepens: Manufacturing activity CONTRACTS after economy sinks into RECESSION | City & Business | Finance
[ad_1] The gloomy figures from the Purchasing Managers’ Index revealed factory activity weakened to 47.8 points in January, from 49.2 the month before. The decline marks its sharpest fall since 2013, pointing to ongoing weakness for Rome just one day after it was announced Italy had entered recession territory. Italy plunged into the red yesterday…
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Pound euro exchange rate: Ongoing eurozone economic woes fail to help GBP Sterling | City & Business | Finance
[ad_1] Yesterday’s shock news that Italy had entered a recession has been furnished today with more gloomy Eurozone figures in the form of the latest manufacturing PMIs. The Purchasing Mangers Indexes, which give a snapshot of the state of the private sector – in this case manufacturing – came in generally disappointing this morning. While…
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Pound US dollar exchange rate: GBP slips as ‘Brexit blight’ wracks UK manufacturing | City & Business | Finance
[ad_1] Sterling fell against the US dollar after the publication of the UK manufacturing PMI figures for January fell below-expectation to 52.8 – its weakest performance since July 2016. Duncan Brock, a director at the Chartered Institute of Procurement and Supply, said: “Brexit blight strikes again… and optimism withers away under the weight of uncertainty…
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Premium Bonds February 2019: What are the winning numbers – How to check Premium Bonds? | Personal Finance | Finance
[ad_1] A man from Humberside and another from Devon have become the lucky Premium Bonds February 2019 winners. In the February draw, some 3,223,731 prizes worth £92,144,925 were awarded. The Humberside winner bought £30,000 worth of bonds in September 2012 and his winning bond has been steadily growing since then. He is only the third…
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Honda profit PLUNGES by 40 PERCENT in third-quarter on easing global car demand | City & Business | Finance
[ad_1] Honda Motor Co Ltd recorded profit of 170.1 billion yen (£1.19 billion) for the three months, down from 284.5 billion yen (£1.99 billion) in the same period a year earlier. The carmaker kept its full-year profit forecast at 790 billion yen (£5.55 billion). However, this is under the assumption the domestic currency will trade…
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Premium Bonds February 2019: How to check February winning numbers? | Personal Finance | Finance
[ad_1] As the cold settles in across the UK, many of us will be facing frightening heating bills. But with the Premium Bonds numbers out, some lucky winners won’t have to worry about that too much. And with prizes ranging from £1 million to £5,000, there will be plenty of happy investors this month. How…
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Pound LIVE: GBP Sterling flat against euro and US dollar on Brexit uncertainty | City & Business | Finance
[ad_1] Sterling is hovering around opening levels after a week of Brexit twists and turns saw Prime Minister Theresa May braced to head back to Brussels after MPs voted for the Conservative leader to seek further concessions on the Irish backstop. But European Union chiefs instantly rebuffed the vote and declared the backstop is not…
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Fed, earnings, Brexit, unemployment data in focus
[ad_1] The pan-European Stoxx 600 closed provisionally barely changed, with sectors and major bourses pointing in opposite directions. Banks were by far the worst performing sector, down 2 percent, weighed down by an 11 percent downturn in Metro Bank shares. The U.K. challenger bank’s share price plummeted following reports that an accounting error it reported…
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PayPal CFO addresses 3 pain points in earnings including eBay, dollar
[ad_1] Wall Street’s relative disappointment with PayPal’s fourth-quarter earnings report — with the exception of the almost-profitable Venmo — may have stemmed from the company’s forward guidance, CFO John Rainey told CNBC on Thursday. In an exclusive “Mad Money” interview after PayPal’s report, Rainey emphasized that management was “really pleased” with the fourth-quarter results, highlighting…
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Forget FANG—these are the real tech winners for 2019
[ad_1] Forget FANG — so far in 2019, the cloud kings are the technology sector’s real winners, CNBC’s Jim Cramer said Thursday after a strong, growth-filled earnings report from enterprise-facing cloud company ServiceNow. “These days, if you want performance, the cloud kings and their smaller heirs apparent, the cloud princes, are where it’s at,” Cramer…
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Amazon, Yum China, Cypress and more
[ad_1] Check out the companies making headlines after the bell: Shares of Amazon rose as much as 3 percent and then dipped more than 2 percent negative in extended trading Thursday after reporting better-than-expected earnings and light guidance. The e-commerce giant beat on the top and bottom line. Earnings per share were $6.04, which beat…
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The ultra-rich are investing in cannabis, gold and fixed income
[ad_1] The industry has seen a big boost since Canada legalized cannabis for recreational use. While marijuana use is illegal in the U.S. on a federal level, a number of states have legalized it for recreational and/or medical use. The stocks of Canadian pot companies like Tilray, which debuted on the Nasdaq last year, and…
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Job market was strong in January, but government shutdown could have played havoc with numbers
[ad_1] After December’s surprise surge in hiring, economists expect January’s payrolls may have grown by just about 165,000, and there’s a chance that may even be too high. In December, 312,000 payrolls were created and the unemployment rate was 3.9 percent. According to Reuters, the unemployment rate is expected to hold at 3.9 percent and…
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CBS, Viacom, Discovery may merge for survival
[ad_1] A CBS-Viacom merger nearly happened last year, with the two companies agreeing to an exchange ratio, but talks fell apart over who would run a combined entity and board composition. Since then, CBS has retooled its board and former CEO Les Moonves resigned amid sexual misconduct allegations. Redstone has long been in favor of…
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The Fed is on hold for now, but some in the market are still bracing for more hikes
[ad_1] The strikingly dovish tone of the FOMC’s post-meeting statement sent stocks surging higher. But it also generated some conversation around “down-side concerns that the Fed ‘knows more than we do,’” said Catherine L Mann, global chief economist at Citigoup. Mann said, however, that her team’s research indicates that concerns over growth will fade. “Powell…
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DowDuPont, GE, Tesla, Facebook & more
[ad_1] Check out the companies making headlines before the bell: DowDupont – The chemical maker earned an adjusted 88 cents per share for the fourth quarter, a penny a share above estimates. Revenue was short of estimates, however, on lower demand for automotive and appliance-related products. General Electric – GE missed estimates by 5 centss…
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Trump considering former presidential candidate Herman Cain for Fed
[ad_1] Former presidential candidate and Godfather’s Pizza CEO Herman Cain is under consideration for a Federal Reserve governorship, CNBC has confirmed. Cain, 73, is a former chairman of the Kansas City Fed, having served at the bank from 1989-96 before leaving to pursue political activities full time. Cain met with President Donald Trump on Wednesday…
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The best January in 30 years could mean good things for the stock market in 2019
[ad_1] Stocks are on track for their best January gains in more than 30 years, and that should mean 2019 will be a pretty good year for stocks. That’s what the widely watched January barometer tells you — so goes January, so goes the year. According to Stock Trader’s Almanac, going back to 1950, that…
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From the year when nothing worked in the financial markets to the month when everything did
[ad_1] New year, new market: Turning the calendar over can make a world of difference. The majority of financial assets ranging from lumber and crude futures to the Japanese yen all rose in January. Lumber and crude are both up more than 20 percent in 2019 while the yen has registered a small gain. The…
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The market is going to get wild this year and millennial investors aren’t ready, Merrill Lynch says
[ad_1] Millennials haven’t seen many wild stock-market swings in their lifetime. But they may get their first real dose of volatility this year. Based on the slope of the yield curve, Bank of America Merrill Lynch predicted that volatility could double in 2019. The firm pointed out that the largest cohort of financial services employees…
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This contrarian factor suggests stocks could hit all-time highs
[ad_1] It’s shaping up to be a milestone month for stocks. The S&P 500 is on track to see its best January performance in 30 years, and long-time bull Jim Paulsen believes there’s no reason to second-guess the rally. He points to a contrarian indicator: pessimism — a factor that’s still playing a major role…
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Your first trade for Thursday, January 31
[ad_1] The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of the Mexico ETF. Steve Grasso was a buyer of General Electric. Dan Nathan was a buyer of PayPal. Guy Adami was a buyer of Sarepta Therapeutics. Trader disclosure: Tim Seymour is long AAPL, ACBFF, AMZA, ACB,…
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EU implements new Iran trade mechanism
[ad_1] France, Germany and Britain have officially put in place a European system to help facilitate trade with Iran. The move will allow the European Union to circumvent U.S. sanctions in an effort to continue humanitarian trade with Iran and work to uphold what is left of the Joint Comprehensive Plan of Action, commonly known…
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Ex-Atlanta Fed president says central bankers may hike rates this year
[ad_1] The Federal Reserve may hike interest rates one or two times this year as a buffer for the next economic downturn, former Atlanta Fed President Dennis Lockhart contended Thursday. Central bankers will likely be on hold until mid-year before they’ll have to reevaluate inflation data, said Lockhart, who served as president of the Atlanta…
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Goldman faces accusations it cheated another investment bank client
[ad_1] Patrick T. Fallon | Bloomberg | Getty Images David Solomon, president and chief operating officer of Goldman Sachs & Co., listens during a Bloomberg Television interview at the Milken Institute Global Conference in Beverly Hills, California, April 30, 2018. Goldman Sachs is being accused of bilking a corporate client who hired the investment bank…
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UK car industry on ‘RED ALERT’ as production slumps by almost a TENTH | City & Business | Finance
[ad_1] Just over 1.5 million cars left UK factories in 2018, a drop of 9.1 percent on the previous year and the lowest for six years. Production of diesel cars was down by 22 percent to 561,000 last year. It comes as investment by car companies fell by half in 2018 to £588m as firms were left…
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GOLD RUSH: Central banks bought highest amount in 50 YEARS in 2018 | City & Business | Finance
[ad_1] Demand for the precious metal soared last year with net purchases climbing by an additional 651.5 tonnes to reach a total of 4,345.1 tonnes, the largest bought by central banks since 1967. Not only was it 74 percent higher than in 2017 when 4,159.9 tonnes were purchased, but the 2018 total marked the second…
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North Korea is a HIGHLY DANGEROUS cyber power on a mission to STEAL bitcoin, expert claims | City & Business | Finance
[ad_1] The secretive communist nation is hell-bent on syphoning off as much cryptocurrency as its army of hackers can lay their hands on in order to fund weapons programs and bypass worldwide sanctions against Pyongyang, it has been claimed. A terrifying hacking programme – codenamed ‘Lazarus’ – has allegedly already infiltrated banks and crypto assets…
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Germany BLOW as retail sales PLUMMET – Eurozone nervy after WEAK forecast | City & Business | Finance
[ad_1] In the latest raft of economic woes to his Europe’s largest economy, retail sales were revealed to have fallen by 4.3 percent on the month in December. The gloomy figure, released by the state statistics office, marks the fastest rate of decline in 11 years. Sales also fell by 2.1 percent year-on-year, Germany’s Federal…
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Pound US dollar exchange rate: GBP benefits from dovish Federal Reserve | City & Business | Finance
[ad_1] Yesterday evening’s Federal Reserve meeting sent the US dollar sharply lower as interest rates were left unchanged. The central bank’s head Jerome Powell preached ‘patience’ to the markets. Currency traders soon noticed that the Fed had removed the words ‘further gradual increases’ from its forward guidance notes, which was interpreted as meaning interest rates…
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Pound euro exchange rate: GBP rises against EUR on Italy and Germany woes | City & Business | Finance
[ad_1] Sterling has gained on the euro after figures revealed that Italy had fallen into recession at the end of 2018, while German consumers stopped spending in December. The publication of Italy’s Q4 GDP figures revealed a fall of -0.2 percent, the second successive quarter of economic contraction, meaning that the Italian economy had entered…
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Eurozone CRISIS: Economy STUCK on WEAKEST pace of growth in FOUR YEARS | City & Business | Finance
[ad_1] Gross domestic product in the 19 countries sharing the single currency rose by 0.2 percent for the final three months of 2018, meaning it was stuck on its lowest pace of growth since 2014. The quarter-on-quarter rate in the fourth quarter matched that of the third quarter. GDP went up by 1.2 percent year-on-year,…
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Deutsche Bank share price PLUMMETS after Commerzbank merger plan leaked | City & Business | Finance
[ad_1] Reports on the possible merger suggested a deal was being brokered by the German government and would happen by the summer if efforts to restructure the bank fell short of targets. A Deutsche Bank spokesman declined to comment on the reports. The German government has made no official statement on the potential merger but…
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Deutsche Bank shares slump 3 percent on reports of a future merger with Commerzbank
[ad_1] Deutsche Bank is set to report its fourth-quarter results on Friday. In the third quarter of 2018, the bank reported a net income of 229 million euros ($262.71 million), above the 149 million euros expected in a Reuters poll of analysts. However, the performance that corresponds to the third quarter of 2018 was 65…
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Italy sinks into RECESSION: Rome economy SHRINKS for second consecutive quarter | City & Business | Finance
[ad_1] Italy slipped into the red after the economy contracted by 0.2 percent for the fourth quarter of last year. It comes following a decrease of 0.1 percent in the third quarter of 2018. A recession is defined by economists as GDP falling for two consecutive quarters. The new figures mark the third recession for…
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Pound LIVE: GBP Sterling higher against US dollar as markets wait for next Brexit move | City & Business | Finance
[ad_1] Sterling has been riding the waves of a political rollercoaster this week after MPs voted for Prime Minister Theresa May to head back to Brussels to try and thrash out the arrangement of the Irish backstop. The pound had soared to three-month highs of $1.3218 on Friday before crashing to as low as $1.3080…
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Boeing, Apple, Alibaba, Tesla & more
[ad_1] Check out the companies making headlines before the bell: Boeing – Boeing earned an adjusted $5.48 per share for the fourth quarter, beating the consensus estimate of $4.57 a share. Revenue also beat forecasts, and the jet maker topped $100 billion in annual revenue for the first time. Boeing also gave a 2019 full-year…
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AMD, semiconductor stocks may be bouncing, but they still face trouble ahead
[ad_1] Intel‘s interim CEO, Robert Swan, told CNBC last week that a number of global concerns are leading his company to reduce its 2019 outlook. “Some geopolitical dynamics … are going to weigh on ultimate consumers and enterprise desires to buy, and that’s whether it’s U.S.-China trade, whether it’s the U.S. government shutdown, whether it’s…
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Fed leaves rates unchanged
[ad_1] Also, the officials addressed the balance sheet issue, something that had come up before mostly in the minutes following FOMC meetings. The committee issued a separate three-paragraph statement noting that “it is appropriate at this time to provide additional information regarding its plans to implement monetary policy over the long run.” The Fed’s balance…
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The Fed is obviously moving to the whims of the markets
[ad_1] The Federal Reserve is continuing to change its tune as officials react to the whims of the stock markets, veteran trader Art Cashin told CNBC on Wednesday. “It’s pretty obvious,” he said on “Closing Bell.” “The fact that you look two or three meetings ago, it’s a completely different Fed and that’s … a…
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Read January Federal Reserve statement changes
[ad_1] This is a comparison of Wednesday’s FOMC statement with the one issued after the Fed’s previous policymaking meeting on December 13. Text removed from the December statement is in red with a horizontal line through the middle. Text appearing for the first time in the new statement is in red and underlined. Black text…
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Watch former NEC director Gary Cohn speak at the Context Summits Miami
[ad_1] [The stream is slated to start 4:30 pm. ET. Please refresh the page if you do not see a player above at that time.] Gary Cohn, former director of National Economic Council, gives remarks at the Context Summits Miami on Wednesday. Cohn served as President Donald Trump’s top economic adviser and formerly acted as…
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Facebook, Microsoft, Tesla and more
[ad_1] Check out the companies making headlines after the bell: Shares of Facebook surged as much as 10 percent after hours on Wednesday. The social media titan posted better-than-expected earnings, beating on the top and bottom lines. The company earned $16.91 billion in revenue, which beat Wall Street’s estimates of $16.39 billion. Earnings per share…
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The Fed gives the financial markets their wish list
[ad_1] Interest rates fell and stocks went flying after the Fed’s post meeting statement gave the market just about everything it wanted. The Fed left interest rates unchanged, as expected, and suggested that it would be flexible on its balance sheet strategy. The Fed also acknowledged changes in markets and financial conditions were serious enough…
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Gary Cohn says a wealth tax would be ‘harmful’ to the economy
[ad_1] Raising taxes on wealthy Americans would ultimately harm the U.S. economy, according to Gary Cohn, the former Goldman Sachs president who served 14 months as President Trump’s chief economic adviser. “It would be harmful to the economy,” Cohn said in an interview with Leslie Picker on CNBC’s “Closing Bell.” “I’m not saying that collecting…
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Fed Chair Jerome Powell says the case for raising interest rates ‘has weakened’
[ad_1] Saul Loeb | AFP | Getty Images Federal Reserve Board Chairman Jerome Powell arrives to speak at a press conference after the Fed announced interest rates would remain unchanged, in Washington, DC, January 30, 2019. Federal Reserve Chairman Jerome Powell issued his strongest statement yet Wednesday that the central bank has changed its outlook…
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Fed Chair Powell says economy will make back most of shutdown effect
[ad_1] Saul Loeb | AFP | Getty Images Federal Reserve Board Chairman Jerome Powell arrives to speak at a press conference after the Fed announced interest rates would remain unchanged, in Washington, DC, January 30, 2019. Federal Reserve Chairman Jerome Powell said Wednesday afternoon that the American economy will recover most of the lost economic…
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Powell says the Fed did not change course on interest rates in response to Trump
[ad_1] Adam Jeffery | CNBC Jerome Powell, Chairman of the Federal Reserve, speaking at the New York Economic Club on Nov. 28th, 2018. Federal Reserve Chair Jerome Powell spoke at a press conference on Wednesday, following the January meeting of the Federal Open Market Committee. This story is developing. Please check back for updates. [ad_2]…
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Companies add 213,000 jobs in January, beating expectations: ADP/Moody’s Analytics
[ad_1] Private payrolls grew in January at a much faster pace than expected as the labor market shrugged off the longest U.S. government shutdown in history, according to data released Wednesday by ADP and Moody’s Analytics. Companies added 213,000 jobs this month, the data show. Economists polled by Refinitiv expected payrolls to grow by 178,000.…
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January’s market rally could go bust: PNC Financial
[ad_1] PNC Financial sees signs that January’s market rally could go bust. According to its co-chief investment strategist, one of the firm’s key short-term indicators is flashing a sell-off signal. “Ninety percent of stocks are now above their one-month highs. Typically, that leads to a little bit of a slowdown,” Jeffrey Mills said Tuesday on…
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Stripe raises $100 million from Tiger Global at $22.5 billion valuation
[ad_1] Multi-billion dollar payments start-up Stripe just got a new cash injection and a bit more valuable. The company said this week that it raised an additional $100 million from Tiger Global Management, boosting its valuation to $22.5 billion. This round, first reported by the Information, follows a $245 million Series E fundraise announced last…
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Warm Home Discount scheme: Are YOU eligible for £140 DISCOUNT on your energy bill? | Personal Finance | Finance
[ad_1] Winter can be an expensive time of the year for some families, with the cost of keeping your home warm increasing each year. It is estimated Britons are forking out up to £147 more on core households bills than they were this time in 2018, according to MoneySuperMarket. But help could be at hand…
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Turkey lira BOOST: TRY firms against US dollar as central bank slashes inflation forecast | City & Business | Finance
[ad_1] The Central Bank of the Republic of Turkey trimmed its inflation forecast for 2019 as Governor Murat Cetinkaya vowed to bring inflation down to single figures, in line with its target of 5 percent, in three years. In a move that appeared to please markets, the bank lowered its 2019 inflation forecast by 0.6…
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Your first trade for Wednesday, January 30
[ad_1] The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of Amgen. Brian Kelly was a buyer of the Junior Gold Miners ETF. Steve Grasso was a buyer of Lennar. Guy Adami was a buyer of eBay. Trader disclosure: Tim Seymour is long ACBFF, AMZA, ACB, APC,…
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Bitcoin latest: It’s NOT WORTH mining BTC anymore, says leading cryptocurrency academic | City & Business | Finance
[ad_1] The landmark figure was passed as BTC continues its landslide beyond the point where the amount of energy expended in the mining operation for the original crypto far outweighs the value of bitcoin. The tipping point came in November when bitcoin plunged from a steady $6,500 and slipped to levels that left many miners…
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Italy on brink of RECESSION as business morale TUMBLES to lowest level in TWO YEARS | City & Business | Finance
[ad_1] Business morale fell to 99.2 in January, its lowest level since August 2016, down from 99.7 in December, according to data from statistics institute ISTAT. ISTAT’s composite business morale index combines surveys of the manufacturing, retail, construction and services sectors. At the same time, manufacturing confidence slipped to 102.1 in January, its worst reading…
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Venezuela: US launches ‘FULL-SCALE ECONOMIC ASSAULT’ on hyperinflation-RAVAGED nation | City & Business | Finance
[ad_1] Mr Hanke, a professor of applied economics at The Johns Hopkins University, described the move from the Trump administration as engaging in “economic war” after the US confirmed it was issuing the penalty action on the oil firm Petróleos de Venezuela (PDVSA). The sanctions were aimed at curbing exports and pressuring President Nicolas Maduro,…
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Pound US dollar exchange rate: GBP rises as Theresa May storms back to Europe | City & Business | Finance
[ad_1] Sterling managed to rise against the US dollar today after Prime Minister Theresa May came out on top in Parliament last night when the ‘Brady’ amendment was passed by a comfortable majority. The ‘Brady’ amendment concerns the Irish backstop and aims to replace it with an ‘alternative arrangement’. Pound investors are relieved that the Brexit…
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Euro area FAITH GONE? Economic confidence FALLS to LOWEST level in TWO YEARS | City & Business | Finance
[ad_1] Economic confidence dropped to 106.2 for January, a level not since since the end of 2016, from 107.4 recorded for December, as the eurozone struggles against political uncertainty from Brexit and the repercussions of a trade war between China and the United States. Gloom across the European Commission’s economic sentiment index spread worst in…
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Pound euro exchange rate: GBP rallies as Theresa May heads back to Brussels | City & Business | Finance
[ad_1] Some better-than-expected German Gfk consumer confidence likely increased sentiment for the euro. Instead of falling further in February, the figure rose to 10.8, the highest reading since May 2018. At the same time, French GDP figures came in at a steady 0.3 per cent for the last quarter of 2018, relieving fears that the…
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Santander net profit up nearly 20% on the year
[ad_1] Banco Santander reported an 18 percent increase in net income for 2018 on the back of strong growth in the United States, Brazil and Spain. Looking at the bank’s annual performance, net income reached 7.81 billion euros ($8.93 billion) last year, compared to 6.62 billion euros in 2017. The Spanish bank also reported Wednesday…
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Pound LIVE: GBP Sterling in recovery mode after PLUNGING as Brexit amendments voted down | City & Business | Finance
[ad_1] Sterling plunged to as low as €1.1422 last night having soared past the €1.15-mark earlier in the day. Against the US dollar, the pound fell from $1.3163 to $1.3080 after the Brexit vote, having already lost ground from three-month highs of $1.3218 touched on Friday. The pound is attempting to stage a recovery today…
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Apple, Amgen, AMD and more
[ad_1] Check out the companies making headlines after the bell: Apple shares jumped more than 6 percent after the bell following an earnings beat on Tuesday. The company earned $84.31 billion in revenue, which beat estimates of $83.97 billion. Earnings per share were $4.18, compared to the $4.17 expected on the Street. The company reported…
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UAE firms tie up in three-way mega merger to create $114 billion banking giant
[ad_1] Abu Dhabi Commercial Bank (ADCB), Union National Bank (UNB) and Bank Al Hilal have announced a major three-way merger deal that will create the fifth-largest lender in the Middle East and North Africa with combined assets of $114 billion. The deal, confirmed at the close of trade on Tuesday, marks the second bank tie-up…
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3M, Pfizer, Verizon, Xerox & more
[ad_1] Check out the companies making headlines before the bell: 3M – 3M earned an adjusted $2.31 per share for the fourth quarter, 3 cents a share above estimates. Revenue beat forecasts as well, but 3M cut its full-year outlook citing the current economic environment among other factors. Pfizer – The drugmaker beat estimates by…
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Crime still plagues cryptocurrencies as $1.7 billion was stolen last year
[ad_1] Cryptocurrency has a security problem it hasn’t been able to shake. Bad actors stole $1.7 billion worth of cryptocurrencies from investors last year, according to a new report the CipherTrace Cryptocurrency Intelligence published Tuesday. Of that total, roughly $1 billion was taken from exchanges. Even as prices dropped last year, crimes went up. The…
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After long slump, ‘this could be gold’s year’
[ad_1] Gold prices are hitting eight-month highs, thanks to investors looking for an alternative to stock market volatility. Prices are also being supported by a weaker dollar and buying by global central bankers and Asian jewelry buyers. Gold futures closed above the key $1,300 per troy ounce this week, and the February contract closed at…
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Pound LIVE: Sterling DROPS SUDDENLY against euro & dollar as Brexit amendments voted down | City & Business | Finance
[ad_1] The result has sent shockwaves through the markets with both the Euro and Dollar plummeting. The euro has fallen against sterling from €1.1515 to €1.1451. Whilst the dollar dropped from $1.3163 to $1.3080. MPs voted 321 to 298 against Yvette Cooper’s amendment. The amendment would have given Parliament control over the Brexit process if…
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Market bull Rich Bernstein curbs enthusiasm for stocks
[ad_1] Institutional Investor hall of famer Richard Bernstein is adopting a more nuanced bull stance on stocks. Bernstein isn’t as optimistic as he was last year — citing the deceleration of corporate America’s profits. “The most important thing in 2019 is U.S. profits growth is going to slow,” the Richard Bernstein Advisors CEO said Monday…
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A few secret Goldman portfolios for clients are doubling the return of the market so far this year
[ad_1] Goldman Sachs apparently knows the key to beating the market, but the bank is only telling its elite club. The bank has created 39 portfolios exclusively for its clients, and 34 of them are outperforming the market this year while three are posting a 11 percent gain, more than doubling the S&P 500‘s year-to-date…
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Your first trade for Tuesday, January 29
[ad_1] The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of Alibaba. Karen Finerman was a buyer of FedEx. Steve Grasso was a buyer of General Electric. Guy Adami was a buyer of Altria. Trader disclosure: Tim Seymour is long ACBFF, AMZA, ACB, APC, APH, BA, BABA,…
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JP Morgan says market is about to hit critical levels
[ad_1] For investors pondering if January’s comeback is a revival of the bull market or just a bounce before the coming bear, the market is about to tell them, according to J.P. Morgan’s chart analyst. The market is still not out of the woods yet even after the S&P 500 rebounded from its worst December…
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Wall Street analysts double down on major credit card companies
[ad_1] Visa, Mastercard and American Express got bullish backings from Wall Street analysts on Tuesday. Jefferies initiated coverage with a buy rating on Visa and Mastercard. The firm called Visa “the pinnacle of payments,” and said it should be able to leverage growth trends even in the event of an economic slowdown. “We believe Visa…
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Apple, Facebook have better chance than Amazon of beating expectations
[ad_1] If history is a guide, there’s a very good chance Apple’s earnings will be better than expected when it reports Tuesday afternoon, but the stock may not perform all that well. Bespoke Finance Group studied three FANG-related stocks reporting earnings this week and found that Facebook has the best track record, with a 96…
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Pound BOOST: GBP Sterling could RISE off THIS Brexit outcome after vote TONIGHT | City & Business | Finance
[ad_1] Sterling has made a small-scale climb this afternoon after the Commons kicked off a debate into potential amendments, brought forward by backbench MPs, over the conditions of Britain leaving the European Union. As of just before 3:30PM UK time, the pound is trading at €1.1540, up 0.22 percent, and $1.3179, an increase of 0.12…
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French oil giant launches BIGGEST exploration for OIL in years | City & Business | Finance
[ad_1] Total is targeting the coast of Africa and South America with plans to drill 23 wells this year, according to its senior vice president for exploration, Kevin McLachlan. Mr McLachlan said the oil giant will be working in waters off Mauritania, Senegal, Namibia, South Africa, Guyana and Brazil. Total refused to say how many…
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China hit by MORE economic pessimism as annual growth SLASHED across provinces | City & Business | Finance
[ad_1] The Chinese economy has been hit by a raft of weak data in recent months, with 2018 marking China’s slowest annual pace of growth in almost three decades amid growing signs of financial weakness. The world’s second-largest economy has been dealt a further dent today after 23 of 31 provinces, regions and municipalities cut…
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Pound to euro exchange rate: What is the pound doing as Brexit BATTLE continues | City & Business | Finance
[ad_1] The Bank of England has warned a no deal Brexit could have a negative edict on the economy. The repercussions could even be worse than the global financial crash. The warnings have come exactly two months before the UK withdraws from the EU, at 11pm on March 29. What is the pound to euro…
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Venezuela CRISIS: Disaster-hit economy facing ‘YEARS of PAINFUL REBUILDING’ | City & Business | Finance
[ad_1] The crisis-hit South American nation is currently at the centre of a wrangling for power, with President Nicolas Maduro confronting an unprecedented challenge to his authority. Opposition leader and Popular Will party member Juan Guaido has declared himself interim president of Venezuela after accusing Mr Maduro of vote-rigging, which the leader has denied. Venezuela…
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New rules set to give a £25m boost to pension pots | Personal Finance | Finance
[ad_1] The Financial Conduct Authority wants to force pension companies to disclose all charges and offer savers better investment deals. Several schemes were unveiled by the regulator aimed at 100,000 pension savers who may find themselves losing money. The ideas include regular statements showing people how much they have paid their pension provider in fees…
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Gold SOARS to SEVEN-MONTH HIGH: Investors turn to precious metal ahead of Brexit vote | City & Business | Finance
[ad_1] This week will see a crucial Brexit vote on Tuesday evening, the United States Federal Reserve decision on Wednesday and the conclusion of US-China trade talks on Thursday. Gold broke through $1,300 an ounce to reach its highest since mid June earlier today. As of 12PM UK time, the price of spot gold was…
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Bitcoin WARNING: CRACKS are starting to appear as BTC skates on thin ice – COMMENT | City & Business | Finance
[ad_1] A steep drop of $100 on Sunday evening heralded a mini dive down below the $3,400 line yesterday afternoon. With some degree of fight, the bears and bulls of BTC have been engaged in a digital tug-of-war either side of $3,400. After regularly falling under this mark, it still managed to claw back up…
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Pound US dollar exchange rate: GBP rises as US files charges against Huawei | City & Business | Finance
[ad_1] Yesterday saw the pound slip against the US dollar as traders became anxious about Brexit once again ahead of today’s debate on amendments for Theresa May’s ‘Plan B’. The debate and votes will remain firmly in focus today with any likelihood that a no-deal can be avoided likely to bolster the pound. We will…
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Pound euro exchange rate: GBP rangebound as investors anticipate Brexit vote | City & Business | Finance
[ad_1] The pound has stabilised against the euro as MPs head back to the House of Commons to vote on Brexit ‘Plan B’ amendments. These will shape the negotiations between the UK and the EU over the amended withdrawal agreement. Prime Minister Theresa May has expressed her support for Conservative MP Sir Graham Brady’s amendment,…
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Pound LIVE: GBP Sterling STABLE against euro and US dollar ahead of Brexit vote TODAY | City & Business | Finance
[ad_1] With just 59 days remaining until Britain is due to leave the European Union, the Prime Minister is set for a showdown in the Commons with MPs set to vote on a series of amendments to her EU withdrawal agreement. Mrs May was dealt a crushing defeat after her original plan for Brexit was…
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Whirlpool, AK Steel, Sanmina and more
[ad_1] Daniel Acker | Bloomberg | Getty Images An employee works on a Whirlpool washing machine at the company’s operations plant in Clyde, Ohio. AK Steel shares jumped more than 10 percent after hours, earning back its loses from the trading session. The stock was downgraded by Morgan Stanley earlier on Monday causing it to…
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Stocks could be in for a sharper decline as Apple, big tech firms report
[ad_1] The stock market could be in for a period of rocky trading to lower levels, as investors work through earnings season and wait for developments on trade, analysts said. Stocks were slammed Monday in a selloff that accelerated on negative earnings news from global cyclical Caterpillar and chipmaker Nvidia. Both companies pointed to weakness…
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These stocks can be the next blowups on China slowdown after Caterpillar and Nvidia
[ad_1] Vincent Isore/IP3 | Getty Images SHANGHAI, CHINA – FEBRUARY 23: The Chinese flag floats before the skyscrapers of multinational corporations on February 23, 2018 in Shanghai, China. Another two major U.S. companies blamed China for weaker earnings — construction machinery giant Caterpillar and chipmaker Nvidia — and their shares both plunged on Monday because…
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Woodbridge Group ordered to pay $1 billion in penalties for Ponzi scheme targeting retail investors
[ad_1] A federal court in Florida ordered a real estate investing firm and its former owner to pay $1 billion for operating a Ponzi scheme that targeted thousands of retail investors, many of them seniors. The court ordered Woodbridge Group of Companies to pay $892 million in disgorgement and its former owner and CEO Robert…
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The CBO thinks the Fed is going to raise interest rates this year, disagreeing with Wall Street
[ad_1] Projections in the CBO report indicate that GDP is likely to grow 2.3 percent in 2019 but slow thereafter and settle into a 1.7 percent level during 2020-23. That’s actually below Fed expectations, which are for a 2.3 percent gain in 2019 followed by 2 percent and 1.8 percent in subsequent years into a…
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Morgan Stanley says sell this January comeback
[ad_1] January’s rally hasn’t been strong enough to turn Morgan Stanley’s chief U.S. equity strategist, Mike Wilson, any more bullish. In fact, he’s calling bulls “dangerous animals” and asking bull riders to “dismount.” Wilson, who called 2018’s rolling bear market, hasn’t changed his bearish stance even after the S&P 500 posted a 6 percent gain…
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Natural gas tumbles on warmer February forecast, after brutal cold snap
[ad_1] Robert Nickelsberg | Getty Images A floor crew pull steel pipe out of a natural gas well in the Barnett Shale of Fort Worth, Texas that is owned by Chesapeake Energy Corporation. Natural gas prices fell sharply Monday, as weather forecasts for February show more normal and even warmer-than-normal temperatures for parts of the…
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PG&E rallies after investors offer it $4 billion plan to avoid Chapter 11
[ad_1] PG&E shares spiked Thursday after California investigators cleared the beleaguered utility company of liability in the October 2017 Tubbs Fire and said that a private electrical system was responsible. It remains unclear whether PG&E will be found liable for November’s Camp Fire. That conflagration killed at least 86 people and destroyed about 14,000 homes,…
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Caterpillar, Tesla, Vale & more
[ad_1] Spencer Platt | Getty Images News | Getty Images Traders work on the floor of the New York Stock Exchange (NYSE) the morning after Donald Trump won a major upset in the presidential election on November 9, 2016 in New York City. Check out the companies making headlines midday Monday: Caterpillar — Caterpillar shares…
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Pension scam ALERT: Victims losing up to £1million EACH to callous fraudsters | Personal Finance | Finance
[ad_1] Victims lost an average £91,000 to devious crooks in 2017, with two reporting a loss of seven-figure sums from their retirement pot. But the numbers are feared to be even higher, with the majority of scam victims never contacting the authorities. The new data comes from research from multi-agency group Project Bloom, which was…
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Venezuela CRISIS: Oil ‘TICKING TIME BOMB’ set to detonate with rapid ‘PRICE REACTION’ | City & Business | Finance
[ad_1] The cash-strapped nation is currently in the midst of a political meltdown with President Nicolas Maduro confronting an unprecedented challenge to his authority after opposition leader Juan Guaido declared himself interim president. Citing a fraudulent election and winning wide international support, Guaido has sparked a united front from Britain, Germany, France and Spain, who…
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Eurozone WARNING: Mario Draghi ADMITS euro area economy ‘WEAKER than expected’ | City & Business | Finance
[ad_1] The ECB chief repeated the bank’s recent economic warning as he expressed concerns that the eurozone’s dip might last longer than earlier feared. Mr Draghi went on to suggest the ECB could be poised to provide more support to the eurozone, just days after announcing the bank would be leaving policy on hold last…
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Three options strategies for the week: January 28, 2019
[ad_1] The “Options Action” traders share three options trading strategies to kick off the week. Mike Khouw and Carter worth broke down a thread-the-needle put spread in Amazon. The duo also outlined buying a April expiration 121-calls in the 20+ Year Treasury Bond ETF. Finally, Dan Nathan outlined a call calendar in Facebook. Trader disclosure:…
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Tesco CONFIRMS 9,000 jobs AT RISK as restructure sees meat, fish, deli counters SHUT DOWN | City & Business | Finance
[ad_1] The supermarket giant estimated that half of that number could be re-deployed to other customer-facing rolls across the business. The Mail on Sunday had previously reported how Tesco will be announcing changes that will affect over 700 stores. Tesco confirmed in a statement today that 90 stores will be shutting down their counters, while…
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JP Morgan says more market meltdowns like December rout are inevitable
[ad_1] Since institutions must hold more capital and take less risk, there are fewer big players to step in when declines push equities to attractive valuations. The moves are exacerbated by hedge funds employing computerized momentum-based strategies, resulting in corrections that are “faster and deeper,” he said. “This is not necessarily an unintended impact,” Pinto…
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Bitcoin BOOST: New blockbuster series Cryptos to shine Hollywood light on BTC | City & Business | Finance
[ad_1] TV heartthrob Kevin Connolly has revealed he is to be part of a new show called ‘Cryptos’ – a blockbuster series charting the fortunes of five discouraged young filmmakers desperate to finance their movies. Mr Connolly will be directing and starring in the project due for release in 2020. The comedy drama sees the…
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Pound euro exchange rate: GBP slides against EUR as investors take profits | City & Business | Finance
[ad_1] There is a lack of noteworthy economic data releases for the UK this morning, meaning the main focus returns to Brexit in the run up to tomorrow’s vote on Theresa May’s ‘Plan B’. Despite this, the British currency has continued to slip over the course of the morning as investors book their profits in…
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Property news: Bank offers first-time buyers 100 PERCENT mortgage – but there’s a catch | Personal Finance | Finance
[ad_1] The “Lend A Hand” mortgage aims to help first-time buyers purchase their own home without needing to stump up a hefty deposit. But the new deal comes with a catch, as parents or other family members will need to contribute 10 percent of the loan as security into a savings account. This effectively unlocks…
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Pound US dollar exchange rate: GBP drops despite Boris ‘freedom clause’ Brexit optimism | City & Business | Finance
[ad_1] Sterling has failed to make any gains on the US dollar today as Prime Minister Theresa May comes under mounting pressure over concessions on the Irish backstop issue ahead of tomorrow’s crucial parliamentary vote on her Brexit ‘Plan B’. With uncertainty increasing as both Ireland and the EU remain resolute on the issue of…
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Bitcoin to find NEW bottom? Traders’ optimistic DESPITE new BTC price plunge | City & Business | Finance
[ad_1] Bitcoin began 2019 is a relatively buoyant state and even displayed rare signs of stability. However, the flagship cryptocurrency soon returned to its turbulent ways and nosedived in value in the early hours of today, Monday, January 28. But some bitcoin traders believe there are actually optimistic signs, after analysing the BTC moving average.…
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Nissan ‘facing probe by US regulators over executive pay disclosures’ | City & Business | Finance
[ad_1] The Japanese carmaker confirmed it is “cooperating fully” after receiving an inquiry from the US Securities and Exchange Commission (SEC). The SEC is investigating whether Nissan disclosed executive pay properly and had adequate controls to prevent improper payments, according to Bloomberg news. It comes just months after ousted chairman Carlos Ghosn was arrested over…
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Pound LIVE: GBP drifting lower against euro and US dollar ahead of Brexit debate | City & Business | Finance
[ad_1] MPs will on Tuesday vote on a series of amendments to the Prime Minister’s plans after Mrs May saw her original plan sensationally turned down in Parliament earlier this month. All eyes will be on Speaker John Bercow, who has the power to decide which amendments get put to a vote and which are…
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Banks gave $152 B to shareholders with little to show for it
[ad_1] In sum, banks, gave away $152.2 billion, mostly to people who wanted nothing to do with their banks (sold their stock back to the banks) and the banks received nothing in return. Bank managements argue that this is not so. They state, universally, that their returns on equity rose as a result of the…
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Charts point to 10-20% correction
[ad_1] Stocks may be on the brink of another correction. Despite 2019’s strong start, the Economic Cycle Research Institute’s Lakshman Achuthan believes the market remains in a danger zone, because there’s evidence economic growth is still decelerating. “The elephant in the room remains the cyclical slowdown. And, as long as that slowdown is in play……
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Kamala Harris has complicated history with Wall Street
[ad_1] Still, liberal critics allege that in many cases, Harris was too restrained when going after the financial industry. People who supported Sanders in the 2016 primary have been especially skeptical of Harris’s values. After negotiating the $25 billion settlement deal, Harris also introduced a special task force to prosecute mortgage and foreclosure fraud. However,…
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Chart pinpoints level S&P 500 must break for sustainable rally: BofA
[ad_1] Bank of America-Merrill Lynch believes it’s premature to call an end to the market correction. Although stocks on Friday closed out 5 straight weeks of gains, Stephen Suttmeier, the firm’s chief equity technical strategist, is telling investors that stocks are still in the throes of a cyclical bear market. According to Suttmeier, the S&P…
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If the markets get crazy again, these could be the three best ‘safe havens’, a study shows
[ad_1] With December’s monster sell-off in hindsight, many investors are looking for a potential shelter to hide when the market goes wild again. And U.S. Treasuries, Japanese yen and gold could be their best safe havens, according to HSBC. The bank ran 10 million simulations of various portfolio weightings and found that short-dated Treasuries are…
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Apple, Microsoft and Amazon could drive the market in the next wave of earnings
[ad_1] The earnings season is about to get a lot more interesting with about a quarter of the S&P 500, nearly half of the Dow Jones Industrials and three of the four biggest companies in the world reporting in the week ahead. Mega-cap tech companies Apple, Microsoft, and Amazon report respectively on Tuesday, Wednesday and…
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Fed reportedly moving closer to ending balance sheet reduction
[ad_1] The Fed has been reducing its balance sheet by allowing a set level of proceeds from the bonds to roll off each month, while the rest has been reinvested. The maximum roll-off is $50 billion a month, though it is rarely, if ever reached — December saw about a $34 billion reduction in the…
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Lear, Intel, Colgate & more
[ad_1] Check out the companies making headlines before the bell: Colgate-Palmolive – The consumer products company reported profit of an adjusted 74 cents per share for its latest quarter, while revenue and organic sales growth also beat forecasts. Colgate was helped by stronger demand on North America, however the company is also predicting lower sales…
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Your first trade for Friday, January 25
[ad_1] The “Fast Money” traders shared their first moves for the market open. Dan Nathan was a seller of the Semiconductor ETF. Brian Kelly was a buyer of Gold Shares. Karen Finerman was a buyer of United Rentals. Guy Adami was a buyer of Advanced Micro Devices. Trader disclosure: Dan Nathan is long FB Feb…
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Jamie Dimon sends memo to JP Morgan employees about the shutdown. Here’s what it says
[ad_1] Alex Wroblewski | Bloomberg | Getty Images People wait in line to receive food at a Capital Area Food Bank pop-stall for federal workers during a partial government shutdown in Washington, D.C., U.S., on Saturday, Jan. 19, 2019. The Capital Area Food Bank set up 8 grocery distribution locations for government employees and contractors…
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Square up 50 percent off the lows and charts suggest more room to run
[ad_1] Square is on a tear. The stock surged 7 percent Thursday after the payment company received a vote of confidence from Instinet. Analyst Dan Dolev reiterated a buy rating on the shares in a note, citing new growth potential and increasing attractiveness versus the big banks after Square launched its business debit card last…
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Tax return deadlines 2019: Who needs to complete a tax return – when is deadline? | Personal Finance | Finance
[ad_1] HM Revenue and Customs (HMRC) uses a Self Assessment system to collect Income Tax. Usually, tax is deducted automatically from wages, pensions and savings. However, for those who don’t pay tax this way or for people who earn extra it is something which must be worked out and submitted. Who needs to complete a…
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Tax return deadline 2019: How much tax should YOU be paying? How to CHECK | Personal Finance | Finance
[ad_1] The tax return deadline for the previous tax year is January 31, 2019. This is also known as a balancing payment and your first payment on account. The second payment on account will be later in the year on July 31. How much tax should you be paying? It is very important you pay…
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State pension BOMBSHELL: 200,000 families MISSING OUT on entitlements to BOOST their pot | Personal Finance | Finance
[ad_1] Of the 7.9 million households in the UK receiving child benefit, around 3 percent – more than 200,000 households – may not be benefiting from national insurance credits because the child benefit is claimed by the higher earner in the household. Your state pension entitlement can be built up using child benefit credits, providing…
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Financial crisis WARNING: Lagarde warns of ECONOMIC DAMAGE through CLIMATE CHANGE | City & Business | Finance
[ad_1] Speaking at the World Economic Forum (WEF) in Davos, Switzerland, Mrs Lagarde warned how nations must come together to tackle damage from emissions and rising temperatures or risk knock-on effects to the financial sector. Her deterrent comes just days after the WEF highlighted environmental threats as among the top risks facing the world this…
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Tax return deadlines 2019: Workers face £100 FINE even if they’ve ALREADY registered | Personal Finance | Finance
[ad_1] Workers could be slapped with fines of £100 for missing the self-assessment deadline of January 31, 2019, with the penalty charge going up by 5 percent if the charge is not paid within 30 days. The fine then creeps up by £10 per day if the tax return is not submitted correctly after 90…
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A force is about to return to the stock market that could ‘chase equities higher’
[ad_1] But even if companies did want to charge ahead with buybacks, some would have likely have to stall following their earnings announcement. The Securities and Exchange Commission established rules governing the conditions under which companies can buy back their own shares. Corporations cannot do so at the end of the trading day (in the…
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Pound BOOST: GBP could RALLY against US dollar if DUP sparks Brexit breakthrough | City & Business | Finance
[ad_1] Sterling soared past the metaphorical $1.31-barrier yesterday after a report suggested the DUP is poised to lend its support to Mrs May if her Brexit deal includes a clear time limit to the Irish backstop, according to The Sun. The pound reached as high as $1.3114 yesterday, its best level since November 8, 2018,…
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Pound euro exchange rate: GBP slips despite eurozone edging closer to stagnation | City & Business | Finance
[ad_1] Reports that the Democratic Unionist Party (DUP) would support Theresa May’s Brexit ‘Plan B’ on the provision that the Irish backstop is time-limited saw the pound rally overnight. Despite this, comments from Chief EU Brexit Negotiator Michel Barnier indicated the backstop could not be time-limited as that would defeat the purpose of guaranteeing no…
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Pound US dollar exchange rate: GBP drops after DUP Brexit support ‘reality check’ | City & Business | Finance
[ad_1] Today saw the pound struggle to benefit from a sense of optimism over signs of support for Mrs May’s ‘Plan B’, following comments from Conservative hard-Brexiteer Jacob-Rees Mogg, who also voiced confidence in the deal if it could be ‘reformed’. The support, meanwhile, has undergone a ‘reality check’ in which questions about the likelihood…
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Bitcoin WEAKENING as PLUNGE APPROACHES – but here is why you should not panic – analysis | City & Business | Finance
[ad_1] The original cryptocurrency has done nothing but flatline since it plunged to $3,500 at the start of the week leaving plenty of observers to conclude that bitcoin is slowly slipping off to that great digital wallet in the sky. Death, of course, is not an option. Anyone staring into this pit of confusion –…
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China’s slowing economy is likely to pressure corporate debt payments
[ad_1] Fears about China’s rising debt burden pushed authorities early last year to slam the brakes on new loans and crack down on non-traditional forms of lending that are broadly known as shadow banking. But the weakening economy, exacerbated by the ongoing trade war with the United States, has forced Chinese leaders to launch stimulus…
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Pound LIVE: Sterling nudges lower after SOARING to 11-week HIGH against US dollar | City & Business | Finance
[ad_1] Sterling smashed through the €1.16 and $1.31 marks after being boosted by a report claiming Northern Ireland’s Democratic Unionist Party has privately decided to conditionally back Prime Minister Theresa May’s Brexit deal next week. The boost for the pound has seen the UK currency climb around 1.8 percent this week, pushing to $1.3114 yesterday,…
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Stocks higher despite US-China trade fears
[ad_1] The pan-European Stoxx 600 index rose more than 0.4 percent, with trade-sensitive sectors like autos and basic resources being among the top gainers. A big focus for investors this week has been the unresolved trade battle between Washington and Beijing. The two countries have been trying to find agreement over a 90-day tariffs truce,…
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China can no longer rely on real estate for growth
[ad_1] The hope is that developing projects such as high-speed rail will bring temporary jobs, economic growth and investment to lesser known areas. Amid concerns about high-debt levels, analysts said China is trying some alternative financing methods such as private partnerships and project-based debt issuance. Infrastructure spending can also come in the form of investment…
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Stock market faces hurdles after Intel earnings miss sours chip rally
[ad_1] Stocks could be put to the test Friday, as Intel’s earnings miss hangs over the technology sector. Traders are also watching for developments in the government shutdown talks. President Donald Trump late Thursday afternoon pushed for a down payment on the border wall, after two bills failed to gain Senate approval. Semiconductor stocks and…
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How people are wasting £4bn every year by overpaying for their bills | Personal Finance | Finance
[ad_1] Customers trapped on poor value deals are paying a staggering £4.1bn too much for their gas and electricity every year, a new study has revealed.* Nine million UK households haven’t changed energy suppliers for five years, leaving them tuck on expensive standard variable tariffs (SVTs).** But with savings of around £275 available by switching, they…
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We’ll continue to bet big on China
[ad_1] China’s economy may be slowing at the moment, but investors shouldn’t count the Asian giant out in the long run, the chairman of a multibillion-dollar Chinese conglomerate said Wednesday. Fosun International’s Guo Guangchang is sometimes referred to as China’s version of American billionaire investor Warren Buffett. While the “Oracle of Omaha” has often said…
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Companies with this one thing are reporting great earnings and beating the market
[ad_1] The tough economic environment of slowing growth and rising costs is setting up to benefit companies with one enviable attribute: pricing power. The ability to “transfer higher input costs to consumers and maintain profitability relative to their competitors,” is “an alpha factor” in a company amid a global growth slowdown and lower earnings guidance,…
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Stocks making the biggest moves after hours: Intel, Starbucks and more
[ad_1] Check out the companies making headlines after the bell Thursday: Shares of Intel dropped 7 percent following mixed earnings and weak first-quarter guidance. The semiconductor-maker reported $18.66 billion in revenue, compared to the $19.01 billion estimated by analysts. Earnings per share were $1.28, slightly higher than the $1.22 estimated on the Street. The company…
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For the Fed, the government shut down may not be so bad after all
[ad_1] Not having then proper level of information gives officials an easy out from big decision-making at a time when the market remains frightened that Chairman Jerome Powell and his cohorts will make a policy mistake. “It actually works out well for them,” said Joe LaVorgna, chief economist for the Americas at Natixis. “If you’re…
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Venezuelan government could topple on its own, even without new U.S. sanctions, economists say
[ad_1] Threatened U.S. sanctions on Venezuelan oil could further destabilize the beleaguered country, but some economists say there’s already a good chance the Latin American country could collapse on its own. Venezuela’s 14 months of hyperinflation is among the worst in recent history, and that could be its undoing, according to Edward Glossop, Latin American…
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US economy now growing at less than 2 percent due to government shutdown, JP Morgan says
[ad_1] Scott Olson | Getty Images Government workers protest the government shutdown during a demonstration in the Federal Building Plaza on Jan. 10, 2019 in Chicago, Illinois. J.P. Morgan economists said the government shutdown is beginning to take a bigger toll on the U.S. economy, and growth is now below 2 percent, despite resilience in…
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Wilbur Ross says government employees should just get loans, but it’s not that easy
[ad_1] USAA is offering a low-interest loan that current members can pay back over the next 12 months at a 0.01 APR, according to the spokesperson. But the loan is subject to credit approval. Navy Federal Credit Union, the world’s largest credit union whose members include workers in the Coast Guard and other armed services…
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Morgan Stanley: ‘Transformational’ year for Disney
[ad_1] Drew Angerer | Getty Images An image of Mickey Mouse, the official mascot of The Walt Disney Company, is displayed outside the Disney Store in Times Square in New York City. With the new theme park Star Wars Land opening this year and the Fox acquisition nearing the finishing line, Disney is setting itself…
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Goldman Sachs worried about these stocks into their earnings reports
[ad_1] Goldman Sachs has spotted what it thinks are the most worrisome stocks this earnings season. Based on movements in the options market, software company Symantec, pharmaceutical company Mallinckrodt and LED light maker Cree are among the names that traders are most bearish on ahead of earnings, according to the bank’s analyst Katherine Fogertey. “We…
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The government shutdown is now altering the IPO business
[ad_1] The government shutdown is beginning to seriously affect the business of Wall Street, in particular the critical issue of IPOs. If the government does not reopen soon, a serious backlog in initial public offerings could develop. Even if the shutdown ends soon, there is already likely some collateral damage: “I could easily see this…
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Investor protection for leveraged loans never lower, Moody’s says
[ad_1] The agency said that investors hungry for yield have been willing to tolerate looser protections to the point where they are now weaker than they were even before financial crisis exploded in 2008. Much of that money comes from the institutional side. Exchange-traded funds tracking the loan market hold more than $8 billion in…
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Southwest, Apple, Ford Motor & more
[ad_1] Check out the companies making headlines before the bell: Southwest Airlines – Southwest reported earnings of $1.17 per share for the fourth quarter, beating consensus estimates by 10 cents a share. Revenue also came in above estimates, and Southwest gave an upbeat outlook for 2019 despite a hit to January revenue from the government…
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Commerce Secretary Ross says unpaid federal workers should just get a loan
[ad_1] The comments unleashed criticism from Democrats as lawmakers were still trying to hammer out a way to reopen the government. New York Sen. Chuck Schumer tweeted that Ross’ comments were “unreal.” Tweet And House Speaker Nancy Pelosi, responded to Ross’s comments. “Is this the let them eat cake kind of attitude? Or call your…
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Eurozone WARNING: Bank chief ADMITS EU’s economic momentum WEAKENING – Draghi speaks out | City & Business | Finance
[ad_1] The eurozone is currently suffering its biggest slowdown in half a decade, with Mr Draghi suggesting growth had shifted to the downside due to a slowdown in China’s economy and political uncertainty from Brexit. Despite citing risks to the economy, Mr Draghi said he would not be changing monetary policy at present, citing the…
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When the market falls and people feel less wealthy, this stock gets hit hard
[ad_1] “As financial volatility looms, we believe consumers will be more conscious of their spending, which can be a factor contributing to weaker auction sales,” Chen said in a note Thursday. “As consumers become less optimistic about valuation, they will likely hold back on putting their pieces up for auctions, leading to contracted supply gathering…
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Your first trade for Thursday, January 24
[ad_1] The “Fast Money” traders shared their first moves for the market open. Pete Najarian was a buyer of Amarin. Tim Seymour was a buyer of Caterpillar. Steve Grasso was a buyer of McDonald’s. Guy Adami was a buyer of Xilinx. Trader disclosure: Pete Najarian is long calls AA, AMRN, CSCO, EEM, EWZ, IQ, M,…
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Draghi delivers press conference after monetary policy decision
[ad_1] [The stream is slated to start at 08:30 a.m. ET. Please refresh the page if you do not see a player above at that time.] European Central Bank President Mario Draghi is delivering a press conference following the central bank’s decision to keep interest rates at current levels. The move was largely expected by…
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Stocks vulnerable to a 3 to 5 percent pullback: Raymond James’ Jeff Saut
[ad_1] Wall Street bull Jeffrey Saut sees near-term trouble materializing into a solid buying opportunity. According to the Raymond James chief investment strategist, there’s a high probability an unnerving pullback could drag stocks down as soon as this week. “We’re a little overextended in the short-term,” Saut said Wednesday on CNBC’s “Trading Nation.” “Some of…
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Pound US dollar exchange rate: USD restrained by China tensions and government shutdown | City & Business | Finance
[ad_1] Sterling is trading slightly lower today following yesterday’s rally, although it is still holding above the breakthrough level of $1.30 struck yesterday afternoon, signalling that markets are expecting Britain to avoid a chaotic exit from the European Union. With the US government’s partial shutdown continuing into its 34th day, investor sentiment in the dollar remains…
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Pound euro exchange rate: GBP/EUR rises as PMIs expose Eurozone woes | City & Business | Finance
[ad_1] German manufacturing slumped into contraction for the first time since 2016 as decreasing demand took its toll on orders, although the corresponding service sector revealed a surprise uptick in activity. French Markit services PMI for January fell well below expectations to 47.5 – the weakest in over four years – meaning the sector has…
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BOE’s Carney, UBS CEO and IMF’s Lagarde talk future of finance
[ad_1] [The stream is slated to start at 5:00 a.m. ET. Please refresh the page if you do not see a player above at that time.] Bank of England Governor Mark Carney, IMF Managing Director Christine Lagarde, and German Deputy Finance Minister Joerg Kukies are joined by top business leaders to discuss the ways in…
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Brexit WARNING: Mark Carney claims British businesses UNPREPARED for no-deal – Davos 2019 | City & Business | Finance
[ad_1] Speaking at the World Economic Forum event in Davos, Switzerland, the Bank of England chief claimed there are “a series of logistical issues that need to be solved” for if Britain leaves the European Union without a deal in place. He said: “There are a series of logistical issues that need to be solved,…
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Financial crisis WARNING: Christine Lagarde warns of ‘real issue’ linked to China economy | City & Business | Finance
[ad_1] Speaking at the World Economic Forum in Davos, Switzerland, today, the IMF chief described the United States-China trade war as one of the biggest threats facing the economy as she reiterated the organisation’s global growth downgrade. The IMF recently made its second downgrade in three months, citing trade war tensions, weakness in Europe and political…
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‘Complete mess!’ Tony Blair TEARS into Brexit and calls for SECOND referendum at Davos | City & Business | Finance
[ad_1] The former Prime Minister and Labour leader took aim at Theresa May’s Government at the World Economic Forum Event in Davos, Switzerland, as he called for a second referendum on Britain’s EU membership. Mr Blair went to argue that Britain could not leave the EU unless it knew where it was heading as he…
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Davos 2019 LIVE: Invest in Brexit Britain! Philip Hammond to urge business chiefs at WEF | City & Business | Finance
[ad_1] The World Economic Forum is in full swing, with political leaders and business elites flocking to the snowy Alpine setting of Davos for day three of discussions on the economy and environment. Day two highlights saw German Chancellor Angela Merkel, Italian Prime Minister Giuseppe Conte and Spanish President Pedro Sanchez take to the stage. Mrs Merkel used…
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Pound LIVE: GBP Sterling holding firm against euro after soaring to TWO-MONTH high | City & Business | Finance
[ad_1] Sterling hit its best levels in more than two months yesterday afternoon, rising to $1.3094 against the US dollar and a fresh 11-week high for the exchange rate pairing. Versus the euro, the pound almost smashed through the €1.150-barrier, reaching highs of €1.1494. Sterling has edged lower this morning, losing a margin of gains…
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Chinese tourists are spending less on shopping, survey finds
[ad_1] Kiyoshi Ota | Bloomberg | Getty Images A group of Chinese tourists stand with shopping bags at the Canal City Hakata commercial complex in Fukuoka, Japan, on Friday, July 24, 2015. Four million Chinese tourists are expected to head to Japan this year. Chinese tourists are starting to spend more on experiences rather than…
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Standard Chartered CEO Bill Winters: Temasek ‘very supportive’
[ad_1] Standard Chartered’s largest shareholder is “very supportive” of the company, chief executive Bill Winters said Wednesday, following a report that it is increasingly unhappy with his restructuring efforts. Singapore’s state-owned investment arm Temasek has been putting the bank under pressure, requesting more frequent briefings from executives and even mulling a position on the firm’s…
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JP Morgan Asset Management warns of recession risks
[ad_1] So, is it a make or break moment for the U.S. economy and financial markets? “There’s an element of that in the first half of this year,” Mandel said. “Part of it is just going back to the context of global growth decelerating, and U.S. growth, in particular, having a very abrupt deceleration.” He…
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Scandal of the £1.1bn* in overpaid bills energy suppliers have | Personal Finance | Finance
[ad_1] Millions of gas and electricity customers have overpaid on their bills and are owed money by their suppliers, new research** has revealed. An investigation by weflip has found more than half (51%) of UK households have overpaid their energy by an average of £84.80**. And more than one in ten (12%) have made overpayments…
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US economy is like ship that could hit ‘slowdown or recession’
[ad_1] The U.S. economy is like a ship trying to navigate its way through difficult waters, JP Morgan Chase chief Jamie Dimon said Wednesday. If policymakers get things right, the economy should be able to grow at close to a 2.5 percent rate, the head of the largest U.S. bank by assets told CNBC at…
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Texas Instruments, Las Vegas Sands and more
[ad_1] Check out the companies making headlines after the bell: Shares of Texas Instruments rose more than 1 percent after the bell Wednesday following their mixed earnings report. The chipmaker earned $3.72 billion in revenue, slightly lower than the $3.75 billion estimated by Wall Street. Earnings per share were $1.26, which beat forecasts by 2…
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These stocks historically jump the most during the first earnings season of the year
[ad_1] There are certain stocks that historically post big gains after reporting fourth-quarter earnings. Bespoke looked back at the past eight fourth-quarter reporting periods and found stocks that jumped the most on earnings reporting day. It found 15 large caps that rose an average 3.8 percent or more. Several stocks on the list also had…
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Pound to dollar: Sterling hits HIGHEST level since November despite Brexit uncertainty | City & Business | Finance
[ad_1] Senior Market Analyst Craig Erlam said despite the Brexit uncertainty over a soft Brexit or no deal Brexit the pound has risen significantly against the dollar to its highest level since November. During an interview on BBC News, Mr Erlam explained how the FTSE 100 had dipped as the pound had seen an uptrend.…
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Gundlach keeps Twitter account open after activity deemed ‘innocuous’
[ad_1] Patrick T. Fallon | Bloomberg | Getty Images Jeffrey Gundlach, chief executive officer of Doubleline Capital LP Jeffrey Gundlach, one of the world’s best-known hedge fund managers, will not delete his Twitter account after all. In a tweet late Tuesday night, the DoubleLine Capital founder said the company “has concluded certain potentially suspicious activity…
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Pfizer, Merck drop after downgrades on ‘patent cliff,’ competition
[ad_1] Shares of Pfizer and Merck fell on Wednesday after Wall Street analysts downgraded the drugmakers on increased competition and the pending loss of patent protection. UBS slashed Pfizer’s rating to neutral from buy on Wednesday, citing the so-called “patent cliff” in the coming years on key products that would greatly offset revenue growth. The…
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Billionaire Mario Gabelli says investors should ‘put a bet on’ MGM Resorts
[ad_1] Adam Jeffery | CNBC Mario Gabelli, founder, chairman, and CEO of Gabelli Asset Management Company Investors. Billionaire value investor Mario Gabelli said on Wednesday’s CNBC “Halftime Report” that MGM Resorts International stock is “very attractive” and investors should “put a bet on it.” The longtime investor is bullish on MGM because he expects its…
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Jamie Dimon's politics: 'My heart is Democratic but my brain is kind of Republican'
[ad_1] J.P. Morgan CEO Jamie Dimon tells CNBC he no longer considers himself "barely a Democrat." [ad_2] Source link
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Most Americans don’t have savings to cover a $1,000 emergency
[ad_1] “This reduces the likelihood that you’ll be tempted to move money, even just a little bit, to your checking account for today’s wants,” she said. Plus, it typically takes a few days for money to move between banks, and so you won’t be able to use the funds for an impulsive purchase. Consider putting…
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Jamie Dimon predicted bitcoin’s nosedive, but isn’t celebrating it
[ad_1] Adam Galica | CNBC Jamie Dimon, CEO of JP Morgan Chase, speaking at the 2019 WEF in Davos, Switzerland on Jan. 23rd, 2019. The bitcoin price bubble has burst but JP Morgan Chase‘s Jamie Dimon isn’t taking a victory lap. The CEO was among the first and loudest on Wall Street to warn against…
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Greenlight’s David Einhorn tells investors how he really feels about Elon Musk
[ad_1] Greenlight Capital is still betting against electric car maker Tesla, and the hedge fund’s manager isn’t mincing words about his opinion of Elon Musk. In a quarterly letter to investors on Tuesday, Greenlight’s David Einhorn called Tesla a “bizarre situation” and called out CEO Musk on his recent run-in with the Securities and Exchange…
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United Technologies, Tesla, IBM & more
[ad_1] Check out the companies making headlines midday Wednesday: FedEx, UPS —Shares of FedEx and UPS fell 1.4 percent and 2.4 percent, respectively, after The Wall Street Journal reported that Amazon is trying to poach shippers from the two companies by offering lower fuel surcharges and fees. IBM — The tech giant reported better-than-expected earnings…
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Hedge fund manager Einhorn explains why he lost more than 30% last year: ‘Nothing went right’
[ad_1] “Nothing went right for the entire year,” Einhorn said in the letter to investors. “In 2018, the losses were a mile wide and a yard deep. It’s much easier to explain results when they are driven by large moves in a few names. It’s much harder when the answer is a lot of everything.…
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John McAfee claims he is living in ‘exile after being charged with tax fraud’ | City & Business | Finance
[ad_1] Gloucestershire-born McAfee, the computer programmer behind the anti-virus software of the same name, has been an outspoken evangelist of cryptocurrency since bitcoin launched 10 years ago. The US government’s Internal Revenue Service (IRS) has convened a grand jury to lay down charges against John and Janice McAfee, together with four members of his 2020…
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‘Financial system DAMAGED significantly’ Angela Merkel in stark warning at Davos 2019 | City & Business | Finance
[ad_1] Mrs Merkel used her speech at the World Economic Forum in Davos to detail how politicians and the banking sector have lost credibility as she urged nations to join together to avoid a repeat of the infamous financial crisis of 2008. The German Chancellor claimed this can be achieved by reforming global organisations including…
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Insurance companies’ raised insurance premiums force old drivers off the roads | Personal Finance | Finance
[ad_1] Car ownership is a lifeline for many older people, but insurance premiums can more than triple once you head into your 90s. That is not a problem for the Duke of Edinburgh, but it is a challenge for many elderly motorists as the cost threatens to drive them off the road. SPEEDING UP While a…
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‘Roll with Brexit!’ Britain WILL survive no-deal because ‘WHOLE WORLD runs by WTO rules’ | City & Business | Finance
[ad_1] Jose Angel Gurria hinted a hard Brexit would not spell direct economic disaster for the international community as he suggested the OECD will “take our bumps” that come from a no-deal scenario. Suggesting Britain would revert to World Trade Organisation (WTO) rule, Mr Gurria said “the whole world” runs on WTO checks. Mr Gurria…
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Ray Dalio says US tax changes will have ‘huge’ impact on markets
[ad_1] Dalio made the comments in response to a question about Ocasio-Cortez’s proposal to roughly double the top tax rate, which she made during a recent interview on CBS’ “60 Minutes.” The idea appears to have bipartisan support: A recent poll found that 59 percent of voters were in favor of the idea, and even…
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Comcast, Walmart, IBM & more
[ad_1] Check out the companies making headlines before the bell: Comcast – The NBCUniversal and CNBC parent reported adjusted quarterly profit of 64 cents per share, beating consensus estimates by 2 cents a share. Revenue also beat Street forecasts and the company increased its dividend by 10 percent. United Technologies – The maker of Carrier…
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Pound euro exchange rate: GBP holds up against EUR despite Brexit warning | City & Business | Finance
[ad_1] The focus has shifted back to Brexit today, with the pound rising against the euro following yesterday’s positive UK employment data releases. Nevertheless, the pound suffered overnight following a statement yesterday afternoon from the European Commission Chief Spokesman, Margaritis Schinas. He had a dire warning for the UK if a no-deal Brexit were to…
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Santander closing 140 branches in the UK – more than 1,200 jobs AT RISK | City & Business | Finance
[ad_1] The closure of hundreds of branches, the latest bruising for the UK high street, comes following a slump in the number of transactions it handles in store, due to more customers banking online. It is understood some 1,270 employees will be affected by the closures. Santander is currently consulting with unions and will seek…
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new energy price cap government electricity gas | Personal Finance | Finance
[ad_1] A move by the government to cap energy prices is welcome news for households across Britain, but it doesn’t go far enough to save people the most money. The energy price cap, which came into force at the beginning of this month, promises to limit how expensive energy providers’ poor value standard variable tariffs…
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Davos 2019 LIVE: Moscovici launches Brexit WARNING – ‘Ball is in British side’ | City & Business | Finance
[ad_1] The first day of Davos saw Prince William interview Sir David Attenborough live on stage. The Duke of Cambridge described it as a “personal treat” as the pair discussed the environment with Sir David warning “the future of the natural world is in our hands”. As the mood turned back to politics, US secretary of state…
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Pound LIVE: GBP rising against euro and dollar – but investors ‘still focused’ on Brexit | City & Business | Finance
[ad_1] Sterling has remained sensitive to Brexit updates, with foreign exchange analysts predicting markets will be remaining focused on how Britain will leave the European Union. The pound enjoyed a boost yesterday, smashing through the €1.140-barrier against the euro, after the release of better-than-expected unemployment and pay figures. Figures from the Office of National Statistics (ONS) showed there…
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Deutsche Bank shares slip on reports of investigation over Danske Bank
[ad_1] Shares of Deutsche Bank slid more than 1 percent in early trading on reports that the U.S. Federal Reserve is investigating the German lender’s role in a money laundering scheme. A report published in Bloomberg, citing sources, said the Fed probe is in very early stages as it examines whether Deutsche Bank’s U.S. arm…
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One of the world’s largest crypto exchanges looks to go public in U.S. in reverse merger
[ad_1] Blockchain Exchange Alliance acquired a controlling interest in Bithumb Holdings and as a result now has a controlling interest in Bithumb Korea, according to the documents. The Seoul-based exchange is the second-largest by exchange volume, according to Coinmarketcap.com, and was the largest as of November 2018, according to a recent report by CryptoCompare. The…
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IBM, Capital One and more
[ad_1] Check out the companies making headlines after the bell: Shares of IBM jumped as much as 7 percent in after hours trading following the release of their better-than-expected fourth-quarter earnings on Tuesday. The company beat on its top and bottom lines. Quarterly revenue was $21.76 billion vs. the $21.71 billion estimated by Wall Street.…
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Economy at slowest pace of Trump term, but recession not likely this year
[ad_1] The U.S. economy is likely growing at the slowest pace since President Donald Trump took office, but it is not yet heading for a recession as some fear, economists said Worries about a global recession were fed this week by the 2018 GDP report from China, showing the slowest annual growth rate in nearly…
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Bitcoin price news: How much is Bitcoin worth now? | City & Business | Finance
[ad_1] Bitcoin is facing another catastrophic fall, according to cryptocurrency experts, which could result in it exponentially rising once again. The internet based currency has been extremely turbulent, spiking and plummeting as people regularly gain and lose confidence. As such, Bitcoin’s value remains difficult to predict, and at the moment is still worth a lot…
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Nike stock upgraded by Cowen, says it expects a 13% gain
[ad_1] Cowen upgraded Nike stock on Tuesday to outperform from market perform, saying the upcoming products in 2019 are expected to boost its profits. Cowen also raised its 12-month price target for Nike to $90 from $80, which would translate to a 13 percent gain. Shares of Nike rose fractionally on Tuesday to $81.08. “Prospects…
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Davos billionaires are ‘scared’ of Alexandria Ocasio-Cortez tax proposal
[ad_1] In Davos, Stephen Schwarzman, the billionaire CEO of private equity giant Blackstone and Republican megadonor, said sarcastically that he is “wildly enthusiastic” about the lawmaker’s proposed tax hike. He added that “the U.S. is the second most progressive tax regime in the world,” meaning that tax rates climb along with higher incomes. The remarks…
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Patisserie Valerie COLLAPSES into administration putting 3,000 jobs at risk | City & Business | Finance
[ad_1] Around 3,000 jobs are said to be at risk across the cake and cafe business chain which has around 200 stores. Patisserie Valerie has been struggling after a £40million black hole was found in its finances – allegedly from “potentially fraudulent” accounting irregularities. Last week Patisserie Valerie said forensic accountants had found “thousands of…
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AB InBev, world’s largest beer company, gets stock upgrade by RBC
[ad_1] Andrew Harrer | Bloomberg | Getty Images An employee adjusts bottles of Bud Light brand beer at an Anheuser-Busch InBev NV facility in Williamsburg, Virginia, U.S., on Wednesday, Aug. 8, 2018. Investors should buy shares of AB InBev — the world’s largest beer company — because a recent refinancing will lighten the company’s massive…
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Brexit news: Eurozone economy slowdown ‘will be made WORSE by no-deal EU exit’ | City & Business | Finance
[ad_1] The IMF has slashed its global growth forecast, citing a cooling of the economy in China, trade war tensions and political uncertainty through Brexit as triggers of their downgrade, the second of its kind in three months. Trimming its previous prediction, the international body anticipated the global economy to grow at 3.5 percent in 2019…
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Three options strategies for the week: January 22, 2019
[ad_1] The “Options Action” traders share three options trading strategies to kick off the week. Mike Khouwand Carter Worth outlined April 65-calls in Starbucks. Mike Khouw also took a look at a February put spread in Las Vegas Sands. Dan Nathan outlined a February/March 105 call calendar in UPS. Trader disclosure: Dan Nathan is long…
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Paying a premium for risk: Serious illness could raise your insurance costs | Personal Finance | Finance
[ad_1] Many older people with past health problems still want to buy protection such as life insurance, critical illness cover or income protection to cover themselves and their families against further problems – but it is not easy. Insurance companies price for risk, and the sad truth is that if you have had a major health scare, they view you…
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Britain will BEAT eurozone top dogs – growth forecast BETTER than Germany | City & Business | Finance
[ad_1] The International Monetary Fund (IMF) is predicting Britain will outpace Germany this year, with the economic outlook for the UK remaining untouched at 1.5 percent growth in its latest forecast. Germany will expand by 1.3 percent, a downgrade from the 1.9 percent previously anticipated, while France is expected to grow at the same rate…
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Bank of America, Blackstone CEOs talk the future of financial markets
[ad_1] [This stream is slated to start at 2:30 a.m. ET. Please refresh the page if you do not see a player above at that time.] Markets have seen a return of volatility of late, with global indexes suffering big losses in December 2018. Equities around the world have had a slight rebound since —…
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Johnson & Johnson, Nike, FedEx & more
[ad_1] Check out the companies making headlines before the bell: Johnson & Johnson – Johnson & Johnson earned an adjusted $1.97 per share for the fourth quarter, 2 cents a share above estimates. Revenue also topped forecasts, helped by stronger sales of cancer and psoriasis treatments. Travelers – The insurance company reported adjusted quarterly profit…
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Pound US dollar exchange rate: GBP buoyed by rising UK wages and falling unemployment | City & Business | Finance
[ad_1] The pairing are currently trading at around $1.291. The UK saw some good ILO unemployment data for November this morning, falling to 4 per cent from the previous 4.1 per cent. Average UK earnings including bonuses in November also proved to be positive, rising to 3.4 per cent in November, which likely further aided…
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Pound euro exchange rate: GBP firms against EUR on strong UK labour report | City & Business | Finance
[ad_1] The pound is firming in trade this morning as markets welcome the release of the UK’s latest employment figures. According to data published by Office for National Statistics (ONS), the UK’s unemployment rate unexpectedly fell from 4.1 per cent to 4 per cent in November. This came as a result of a surprisingly strong…
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Bitcoin faces CATASTROPHIC fall before MASSIVE SPIKE – analysis | City & Business | Finance
[ad_1] As the crypto rumbles along a gentle downward slope, pausing occasionally to rise and then predictably fall back along its descending path, it bears all the hallmarks of a currency building for an explosion. Despite the minor excitement of a sudden rise over the weekend to $3,730 then flopping back to $3,500 before the…
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UK pay growth hits fresh 10-year high as employment soars | City & Business | Finance
[ad_1] Excluding bonuses, earnings rose by an annual 3.3 percent in the three months to November. Adjusted for inflation, total pay rose at the fastest pace for two years. Employment increased by the largest amount since the three months to April, although it is unclear whether businesses will maintain hiring at these levels as uncertainty…
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7 most common energy switching myths busted! | Personal Finance | Finance
[ad_1] Millions of people are paying too much for their gas and electricity because they believe that switching energy supplier is difficult and time consuming, according to new research. The study by weflip found just 21%* of people switch each year – even though most want to cut their energy bills in 2019. And many wrongly…
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Pound LIVE: GBP treading water against euro and US dollar as Brexit ‘STILL a concern’ | City & Business | Finance
[ad_1] Sterling is current hovering around the €1.13-mark versus the euro as Sterling scrabbles to claw back gains seen last week in the face of Brexit defeat for Prime Minister Theresa May As of just after 09:00AM, the pound is trading at €1.1345 against the euro and $1.2886 versus the US dollar. Nick Twidale, Sydney-based…
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Davos 2019 LIVE: Prince William joins elites at WEF after global growth forecast SLASHED | City & Business | Finance
[ad_1] Fears of a slowdown in economic growth and growing concerns over climate change and the damage to the environment are set to dominate the January 22 to 25 Alpine meeting. World leaders and top CEOs will meet to discuss how to steer policy amid worries of damaging trade wars, fractious international relations and political…
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DC gridlock is bullish for stocks, $3.5B money manager says
[ad_1] Sometimes, no movement is good movement. In the case of the government shutdown, money manager Larry Glazer believes it’s favorable for Wall Street — at least in the short term. His reasoning: It prevents lawmakers from passing policies that could be detrimental to corporate America. “Investors like less Washington, and they realize Washington isn’t…
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Defense, tech stocks are big winners of Trump’s first 2 years
[ad_1] Alex Flynn | Bloomberg | Getty Images A Boeing Co. T-X trainer aircraft is seen at the Boeing Defense, Space & Security facility in St. Louis, Missouri, U.S., on Monday, July 24, 2018. It’s been two years since Donald Trump was inaugurated as president of the United States. In that time, defense and tech…
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Financial crash WARNING: Global economy growth forecast SLASHED ahead of Davos 2019 | City & Business | Finance
[ad_1] In its second downgrade in three months, the IMF cited weakness in Europe – with Germany and Italy putting markets under pressure – and failure to resolve trade tensions as major warning signs pointing to a slowing economy. A slowdown in China, the second-largest economy in the world, and Brexit uncertainty were also listed…
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POUND BOOST: Sterling ‘could emerge from Brexit as HIGHEST-PERFORMING currency this year’ | City & Business | Finance
[ad_1] Zach Pandl, co-head of global currency and emerging-market strategy, is predicting Sterling could surge versus its G-10 peers, otherwise known as the currencies that change hands the most, as the risk of a no-deal Brexit continues to decline. The pound has climbed in recent days, even smashing through the €1.140-barrier against the euro at…
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DoubleLine’s Jeffrey Gundlach says he’s leaving Twitter due to ‘suspicious activity’
[ad_1] Jeffrey Gundlach is ditching Twitter. The founder of DoubleLine Capital said in a tweet late on Sunday he would be deleting his account “due to suspicious activity.” The tweet did not elaborate on the suspicious activity Gundlach was referring to. Gundlach’s account, which has the handle “@TruthGundlach,” has been online since May 2017. Gundlach…
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Russia GUNNING for bitcoin: Putin aiming to BRING DOWN BTC with CRYPTORUBLE | City & Business | Finance
[ad_1] Finance and digital experts in Moscow have reportedly been commanded by Vladimir Putin to deliver a so-called CryptoRuble within “two to three years”. Anatoly Aksakov, chairman of the financial markets committee at Russia’s state parliament the Duma spoke of the possibility of a digital version of the ruble. Speaking to local news outlet RIA Novosti,…
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Germany’s DAX hit by slowest China growth in THREE DECADES – Europe shares WEAKER | City & Business | Finance
[ad_1] The German DAX plunged by as much as 0.5 percent this morning as investors were left rattled by the confirmed slowdown in China, the world’s second-largest economy. By just after 12pm UK time, the DAX had clawed back losses to trade at 11,157.74, down 0.43 percent. Other European markets suffering off the back of…
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Pound US dollar exchange rate: GBP slips as investors brace for next Brexit step | City & Business | Finance
[ad_1] The pound US dollar exchange rate is down today and is currently trading within the region of $1.285. The pound weakened against the US dollar today with Sterling investors reamining on edge as Mrs May braces to unveil her next Brexit step. Tony Blair remained pessimistic about Mrs May’s Brexit deal passing through the…
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Pound euro exchange rate: GBP slips as UK house prices rise at slowest pace since 2012 | City & Business | Finance
[ad_1] The pound has started to slip against the euro, despite some weak data released from the largest country in the eurozone. Germany’s Producer Price Index (PPI) was released for December, revealing the figure fell further than expected. Despite the PPI falling -0.4 per cent, euro traders brushed off the data, seeing the pound slide…
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Sports Direct boss Mike Ashley ‘in talks to buy HMV to save chain from administration’ | City & Business | Finance
[ad_1] HMV buckled under the pressure of a rising demand for online streaming services, putting 2,200 jobs at 125 stores at risk as it collapsed into administration for the second time in six years. But the music retailer could be set to be pulled from the brink, with reports suggesting Mr Ashley lodged a formal…
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How you could save an average of £275* a year on your gas and electric bill | Personal Finance | Finance
[ad_1] Millions of people are paying too much for their gas and electricity bills, says new comparison site weflip. An Ofgem report found that half of UK households are paying an average of £275* more than they should every year. And that totals an eye-watering £4.1bn** each year people are missing out on simply by not switching…
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Pound LIVE: GBP lower against euro and dollar as Theresa May to unveil PLAN B Brexit | City & Business | Finance
[ad_1] The Prime Minister is due to update MPs on her “Plan B” for Britain leaving the European Union later today after her original deal was rejected in record-breaking fashion in a so-called “meaningful vote”. After her deal crashed out of the Commons, Mrs May subsequently survived a confidence vote called by Labour leader Jeremy…
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China economy marks slowest annual growth in almost THREE DECADES as trade war takes toll | City & Business | Finance
[ad_1] The economy in China cooled in the fourth quarter of 2018 after buckling from pressure from a bruising trade war with the United States and faltering domestic demand. Gross domestic product (GDP) for October to December eased to 6.4 percent on-year, the slowest pace since the global financial crisis and down from 6.5 percent…
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China posts 2018 GDP; May to reveal Brexit plan B
[ad_1] The pan-European Stoxx 600 index sank around 0.4 percent as traders kicked off Monday’s session, with most sectors and major bourses in the red. Market players monitored news of slowing growth in the world’s second-largest economy. Official data published Monday said China’s gross domestic product (GDP) in 2018 grew 6.6 percent from the previous…
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Get a free £30 Amazon.co.uk voucher when you sign up to weflip today! | Personal Finance | Finance
[ad_1] Are you over paying on your gas and energy bills and looking for ways that could save you money, without having to do anything yourself? Well then you need to carry on reading! weflip is an innovative energy supplier switching service which has been designed to automatically keep households on cheap energy deals, forever.…
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Contrary indicator suggests the market’s win streak is just beginning
[ad_1] The market’s win streak may be just beginning. Edward Yardeni, who spent decades on Wall Street running investment strategy for firms such as Prudential and Deutsche Bank, predicts stocks will break out to all-time highs this year. He’s partly building his bull case based on a chart pointing to negative market sentiment. “At the…
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Trump is going to dominate Davos – even though he won’t be there
[ad_1] President Donald Trump and his cabinet are skipping out on Davos this week, but he’ll still be the biggest presence at the annual gathering of the world’s richest and most powerful people. Whether it’s the U.S.-China trade dispute, Trump’s reported wish to withdraw from NATO, or the government shutdown threatening the world’s biggest economy,…
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“Don’t forget the little guy”
[ad_1] In his last book, “Stay the Course,” Jack Bogle left investors and professionals a warning about a coming battle in investment management. He had been watching closely over the past few years as a growing number of academics raised questions about the size of big passive fund managers, such as Vanguard, BlackRock and State…
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Stocks a bit frothy after move higher, could pause as earnings roll out
[ad_1] Redler said he’s still long the market, but is hedging because the quick gains have made it riskier. “The next stop traders are looking at is 2,700 to 2,730 … next week could be a good week for a pause while [the market] digests the move.” Redler said next week’s reports will be important,…
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Expat news: Top retirement destination for British pensioners REVEALED – it ISN’T Spain | Personal Finance | Finance
[ad_1] Australia has topped a list of the most popular retirement spots as British pensions chose the warmer climate and laid-back lifestyle of Down Under to live out their golden years. A total of 234,800 British expat pensioners, equivalent to the popular of Swansea, claimed their state pension from Australia, knocking sunny Spain off the…
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When hiring be gender neutral and look for the best athletes
[ad_1] I remember it as if it were yesterday. It was the middle of November 2000. Thanksgiving was still a week in the distance but seemingly closer as the enthusiasm for the long weekend began to build, a waystation into a final push to year-end. I dreaded that time of year because, for me and…
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Stocks are gliding higher in a bullish way after December’s trouncing
[ad_1] Keon said the market is not signaling a recession although in the heat of December’s downdraft, many strategists said the market was reflecting that fear. “It’s way too early to say this is the beginning of a recession. the data has been mixed. Industrial production was good,” he said. However, consumer sentiment plummeted from…
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Tesla, CVS Health, Eli Lilly, Netflix & more
[ad_1] Tesla – Tesla is cutting its full-time workforce by 7 percent to lower costs, according to an employee memo. In the memo, CEO Elon Musk said the cuts are needed along with manufacturing design improvements to achieve economies of scale and to maintain a viable company. (Read the full text of Musk’s email to…
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Big Wall Street player cutting 1,500 jobs and accelerating automation
[ad_1] Brent Lewin | Bloomberg | Getty Images State Street Financial Center building, which houses the company’s headquarters, in Boston, Massachusetts. Custody banking giant State Street is scaling back its workforce and upping its reliance on technology. The Boston-based firm said Friday it will reduce its employee count by 1,500 jobs in high-cost locations. The…
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This sluggish market may call for a ‘low and slow’ portfolio, AB Bernstein says
[ad_1] Daniel Sorabji | AFP | Getty Images Traders work at the offices of CMC Markets in the City of London on December 10, 2018 as Britain’s Prime Minister Theresa May makes a statement in the House of Commons announcing the government’s intention to delay the ‘meaningful’ vote on the Brexit withdrawl agreement. The slowing…
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The market is recovering because earnings are not so bad
[ad_1] Spencer Platt | Getty Images News | Getty Images A trader on the floor of the New York Stock Exchange the morning after the Dow Jones Industrial Average dropped over 1,000 points on Feb. 9, 2018. Barring a major decline on Friday, the S&P 500 will record its fourth consecutive weekly gain. The markets…
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Netflix, Boeing, Tesla, Eli Lilly & more
[ad_1] Drew Angerer | Getty Images News | Getty Images A trader works on the floor of the New York Stock Exchange (NYSE) ahead of the opening bell, January 4, 2019 in New York City. Following a strong December jobs report, the Dow Jones Industrial Average rose 350 points at the open on Friday morning.…
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SKI WEAR brand OOSC scales new heights with dazzling retro and recycled ranges | City & Business | Finance
[ad_1] Following direct sales success and with online giants Asos, Zalando and Shinesty, the company has just opened its first shop in top French Alpine resort Meribel and looks to take turnover to a profitable £600,000 this year. A first external round of £400,000 investment combined with online retailing expertise may also be sought, says co-founder…
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Your first trade for Friday, January 18
[ad_1] The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of the Emerging Markets ETF. Karen Finerman was a buyer of FedEx. Dan Nathan was a seller of Netflix. Guy Adami was a buyer of CBS. Trader disclosure: On January 17, 2019 the following stocks and commodities…
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China offers 6-year import boost to US in trade talks
[ad_1] China has offered a six-year boost in imports during its ongoing talks with the U.S., officials familiar with the matter told CNBC. Chinese officials made the offer during negotiations in Beijing earlier in January, Bloomberg News reported. China would increase its annual import of U.S. goods by a combined value of over $1 trillion,…
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JP Morgan CEO Jamie Dimon gets raise to $31 million
[ad_1] Janvhi Bhojwani | CNBC Jamie Dimon, CEO of JP Morgan Chase, speaking at the Business Roundtable CEO Innovation Summit in Washington, D.C. on Dec. 6th, 2018. J.P. Morgan Chase Chairman and CEO Jamie Dimon got a 5 percent bump — $2 million — in his pay last year following record annual earnings for the company.…
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Fed’s Williams calls for ‘patience and good judgment’ before raising rates
[ad_1] Growing economic headwinds and anxiety about the pace of growth are cause for the Federal Reserve to be cautious about hiking interest rates further, John Williams, president of the central bank’s New York region, said in a speech Friday. Williams, who is a voting member of the policymaking Federal Open Market Committee, reiterated recent…
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Bitcoin BOOM over? Interest in cryptocurrency giant BTC is DYING OFF – commentary | City & Business | Finance
[ad_1] For all its promise of heralding the dawn of bitcoin maturity, 2019 could yet end up being the year of the altcoin. Altcoins – the term used for the hundreds and hundreds of smaller alternatives to the decade-old grandfather of them all – are beginning to enjoy much more trading volume. At the same…
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Pound euro exchange rate: GBP drops against EUR on dire Christmas retail sales | City & Business | Finance
[ad_1] The pound is weak against the euro this morning after disappointing retail sales figures showed a worse-than-expected drop in December, plummeting by -1.3 per cent. A poor result in consumer spending during the Christmas period has dampened investors’ confidence in the pound. With continuing Brexit uncertainty plaguing both political parties, Sterling is not expected…
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Ryanair issues SECOND profit warning in four months as winter fares disappoint | City & Business | Finance
[ad_1] The Irish carrier slashed its forecast for the year ending March 31 to between €1billion (£878million) and €1.1billion (£966million). This is down from a previous prediction of between €1.1billion (£966million) and €1.2billion (£1billion) as the budget airline counted the cost of lower winter fares. Ryanair said the airline isexpecting winter fares to drop by…
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Tesla CUTS jobs: Workforce to be reduced by 7 PERCENT as Model 3 production ramps up | City & Business | Finance
[ad_1] Tesla Inc announced the dramatic shake-up to jobs as part of a plan to trim costs as the company vowed to only retain critical temps and contractors. Mr Musk said: “Tesla will need to make these cuts while increasing the Model 3 production rate and making many manufacturing engineering improvements in the coming months.…
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POUND BOOST: GBP will SOAR past $1.50 against USD – but on one Brexit condition – HSBC | City & Business | Finance
[ad_1] David Bloom, global head of FX research at HSBC Holdings Plc, said Britain’s biggest bank had “become more upbeat” on their view for Sterling, after months of volatility for the pound off the back of Brexit uncertainty. The pound has remained sensitive to Brexit movement and has fluctuated rapidly with any major announcement to…
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Pound LIVE: GBP soars to TWO-MONTH HIGH against euro as traders eye THIS Brexit outcome | City & Business | Finance
[ad_1] Sterling smashed through the €1.140-barrier during the early hours of trade before slipping down again briefly, but still holding well above €1.130. The last time the pound soared through €1.140 was back in November 2018. As of just before 08:00AM GMT, the pound is trading at €1.1377 against the euro. At the same time…
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‘Cryptojackers’ harvest £44million – and they could be using YOUR computer to do it | City & Business | Finance
[ad_1] The research, published by Sergio Pastrana from Universidad Carlos III de Madrid and Guillermo Suarez-Tangil from King’s College London, focuses on cybercriminals who install malware on computers without the knowledge of their owners, which can “mine” the virtual currency illicitly. Cryptocurrencies use encryption techniques to regulate the generation of units of currency and verify the…
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Morgan Stanley earnings 4Q 2018 disappoint
[ad_1] Morgan Stanley on Thursday reported profit and revenue below analysts’ expectations as whipsawing markets late last year took a toll on the bank’s two biggest businesses. The bank posted profit of 80 cents per share, below the 89 cent average estimate of analysts surveyed by Refinitiv. Companywide revenue declined 10 percent to $8.55 billion,…
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Snoop Dogg backs Swedish online payments firm Klarna
[ad_1] Klarna, known for its “Smoooth Payments” slogan, has dubbed the 47-year-old music artist “Smoooth Dogg” as part of the campaign. A video ad posted to Klarna’s YouTube channel shows the rapper at a “coronation” where he is presented with a set of bling emblazoned with the “Smoooth Dogg” name. “I’ve been looking for an…
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Why Jack Bogle mattered so much to the investing world
[ad_1] Brendan McDermid | Reuters Screens display a tribute to Jack Bogle, founder and retired CEO of The Vanguard Group, on the floor of the New York Stock Exchange (NYSE) in New York, January 17, 2019. In that same 1997 paper, Bogle outlined the essential theory of why the high fees charged by active managers…
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MS, EA, CRM, PCG, S & more
[ad_1] Check out the companies making headlines before the bell: Morgan Stanley – Morgan Stanley reported quarterly profit of 80 cents per share, missing the 89 cents a share consensus estimate. Revenue was also below forecasts, with CEO James Gorman saying the firm’s results were impacted by the volatile global market environment. Electronic Arts –…
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Stocks should surge to new highs this year: Market bull Bill Stone
[ad_1] Bill Stone never wavered from his bullish case during the market meltdown. And now, the Avalon Advisors chief investment officer is calling for a banner year for stocks. “There’s no doubt stocks are cheap relative to bond side of the equation,” he said Wednesday on CNBC’s “Trading Nation.” “You could have a good market.”…
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Your first trade for Thursday, January 17
[ad_1] The “Fast Money” traders shared their first moves for the market open. Steve Grasso was a buyer of General Electric. Mark Tepper was a seller of Netflix. Dan Nathan was a seller of the Financials ETF. Guy Adami was a buyer of Barrick. Trader disclosure: On January 16, 2019 the following stocks and commodities…
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A ’90s Bogle interview shows how little his investing strategy changed
[ad_1] Jack Bogle was famous for making investing accessible to the everyday person through index funds – funds that match a market barometer like the S&P 500. His message was simple: why waste money on expensive fees and commissions for complex funds when market barometers often outperform them? That message remained remarkably consistent throughout his…
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These stocks could surge the most if US lowers tariffs on China and makes a trade deal
[ad_1] A resolution on trade between the world’s two biggest economies could be a big catalyst for a relief rally in the stock market. BlackRock Chairman and CEO Larry Fink said Wednesday on CNBC’s “Squawk Box” that there would be “a surge in investment sentiment” if both sides call off tariffs on each other’s goods.…
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Netflix, American Express, Atlassian and more
[ad_1] Check out the companies making headlines after the bell: Shares of Netflix fell as much as 5 percent in after hours trading based on their mixed earnings released Thursday. Fourth-quarter earnings were 30 cents per share which beat analyst’s estimates by 6 cents. Quarterly revenue missed at $4.19 billion vs. the $4.21 billion estimated…
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American Express drops after missing Wall Street’s Q4 expectations
[ad_1] American Express reported fourth-quarter revenue that narrowly missed analysts’ expectations on Thursday, and an earnings profit after reporting a loss for the same period a year ago. Here’s how the company did compared to what Wall Street expected: Earnings: $1.74 adjusted earnings per share vs. estimates of $1.80 cents per share forecast by Refinitiv.…
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Goodfriend’s nomination to the Fed appears in doubt
[ad_1] Marvin Goodfriend’s future as a Federal Reserve governor appears either in doubt or at least in limbo. President Donald Trump’s move in late-2017 to appoint the Carnegie Mellon economist as a central banker ran into a dead end last year when the nomination died in the Senate. Though the White House recently sent a…
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Investors pulled a record $143 billion out of active funds during December’s plunge
[ad_1] Last month was one for the Wall Street history books — not only was it stocks’ worst December since the Great Depression, but it now appears to be pivotal moment when investors really gave up on active management. According to data from Morningstar out Thursday, actively managed mutual funds experienced outflows of nearly $143…
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Morgan Stanley had most disappointing earnings of big banks
[ad_1] CNBC’s Jim Cramer said Thursday that Morgan Stanley‘s weaker-than-expected quarterly earnings report left him “confused” because he thought it was the “most stable” of the big banks. “I hate to say it, but this was the most disappointing of all” the bank earnings, Cramer said on “Squawk Box.” “I had thought, and perhaps thought…
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Walmart will not launch a new video-streaming service
[ad_1] Here’s a plot twist — one company is deciding not to launch a new streaming video service. At a time when NBC, Disney, AT&T, Viacom, Apple and others are considering subscription services for cord cutters, Walmart is abandoning its plans, according to people familiar with the matter. The giant discount retailer opted not to…
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3 sophisticated ETF plays for a market that’s stopped going straight up
[ad_1] Investors should consider buying three sophisticated exchange-traded funds that track emerging markets, short-duration U.S. bonds and merger arbitrage for sustained gains amid a volatile market, according to an investor who specializes in ETFs. John Davi, founder and chief investment officer of Astoria Portfolio Advisors, included the WisdomTree Emerging Markets ETF (EMMF), the JPMorgan Ultra-Short…
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Signet Jewelers, Morgan Stanley, PG&E & more
[ad_1] Check out the companies making headlines on midday Thursday: Signet Jewelers — Shares of Signet Jewelers plummeted more than 20 percent after reporting weaker-than-expected holiday sales. Signet, the parent company of brands like Kay and Zales, also slashed its outlooks for fiscal 2019 and the fourth quarter. Morgan Stanley — The banking giant’s stock…
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Ethereum hard fork: How will Constantinople upgrade IMPACT ETH prices? | City & Business | Finance
[ad_1] The cryptocurrency sector as a whole has had a turbulent twelves months. However, hopes are rising for cryptos’ future following news Ethereum – the world’s second largest cryptocurrency – could at last receive a long-awaited update. And this upgrade, known as the Constantinople hard fork, is expected to trigger a spike in bullish sentiment…
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The major bank earnings reports are all in and Morgan Stanley was the biggest loser
[ad_1] Bess Adler | Bloomberg | Getty Images A person enters Morgan Stanley headquarters in New York, on Thursday, July 12, 2018. Banks’ trading desks ended 2018 with a whimper – and nowhere as much as at Morgan Stanley. The New York-based firm had the worst bond-trading performance among the big five Wall Street investment…
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Bitcoin WARNING: THIS is the biggest PROBLEM facing BTC in 2019 | City & Business | Finance
[ad_1] The value of bitcoin peaked at almost £15,592.50 ($20,000) in December 2017 but has tumbled over time to around 80 percent from its record high. The crypto giant enjoyed a healthy start to this year, even smashing through the psychologically important $4,000-mark, fuelling hopes a long-term recovery could be on the cards. But BTC…
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FINANCIAL CRASH WARNING: Consumers braced for MAJOR financial and housing crisis THIS YEAR | City & Business | Finance
[ad_1] Just under half of the respondents of the survey said they are expecting a financial crisis to hit this year – and claimed it would be more catastrophic than the 2008 financial crash. The study, from Spearvest and Censuswide, revealed 44 percent of 1,000 members of the public surveyed were preparing themselves for financial…
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Oil price TUMBLES: Crude falls as concern grows over weakening US demand | City & Business | Finance
[ad_1] The price of Brent Crude and WTI Crude fell this afternoon as gasoline stockpiles in the US grew last week by more than expected by analysts. As of just before 04:00PM UK time, Brent Crude fell 1.01 percent to $60.60 per barrel. The price of WTI Crude was down 1.57 percent to $51.49 per…
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Davos 2019: World leaders you WON’T be seeing at WEF and WHY – Trump and May included | City & Business | Finance
[ad_1] Fears of a slowdown in economic growth linked to trade disputes, fractious international relations, and political uncertainty due to Brexit are set to dominate the January 22 to 25 Alpine meeting. As well as this, the environment will also take centerstage with concerns over climate change and man-made environmental disasters on the cards for…
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Hitachi freezes £22bn nuclear power plant plans in Wales | City & Business | Finance
[ad_1] Hitachi President Toshiaki Higashihara announced Hitachi’s withdrawal from the project (Image: Reuters) The company said it had made “strong progress” on the project, but had not been able to reach agreement on financing and associated commercial arrangements. Duncan Hawthorne, chief executive of Hitachi’s nuclear business, Horizon Nuclear Power, said: “We have made very strong…
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Bitcoin rival Ethereum saved from CYBER-ATTACK threat by THIS accidental discovery | City & Business | Finance
[ad_1] The huge altcoin had planned a critical upgrade called ‘Constantinople’ to take place earlier today, but the plug was pulled with hours to spare when a small team of developers from a start-up business stumbled upon a crucial security issue. Had the problem gone unnoticed, Ethereum’s much-anticipated fork would have left the entire organisation…
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Pound euro exchange rate: GBP buoyed as Theresa May survives confidence vote | City & Business | Finance
[ad_1] Today saw release of the December Consumer Price Index for the eurozone, which showed that inflation had remained at a steady rate, as forecast. Despite this sign of eurozone resilience, the pound has still remained buoyed against the euro. Yesterday evening saw Theresa May’s government survive the no-confidence vote that had been triggered by…
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Pound US dollar exchange rate: GBP steady as fears government shutdown could hurt economy | City & Business | Finance
[ad_1] Currency traders generally ignored last night’s vote of no-confidence in Theresa May’s government – a vote that was won by a narrow margin – with very little movement being recorded in pound exchange rates. Indeed, an element of ‘Brexit fatigue’ has overtaken markets, with many currency brokers refusing to execute Sterling trades until political…
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US ECONOMY WARNING: Government SHUTDOWN will cause GREATER damage than feared | City & Business | Finance
[ad_1] US President Donald Trump triggered the stand-off, the longest of its kind in recent history, after demanding $5.7 billion to fund a wall along the US-Mexico border, which Democrats oppose. The shutdown, which has now reached day 27, has left 800,000 federal employees being placed on temporary leave or allowed to continue working without…
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Pound LIVE: GBP holding steady against euro and US dollar after May wins confidence vote | City & Business | Finance
[ad_1] Mrs May clung onto power after seeing off the confidence motion called by Labour chief Jeremy Corbyn, with the Prime Minister surviving by a margin of 325 to 306. The Prime Minister is now braced to meet party leaders and other MPs for discussions to get a Parliamentary consensus and break the Brexit stalemate.…
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How to spot stocks that could blow up your portfolio during this earnings season
[ad_1] Michael Nagle | Bloomberg | Getty Images Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Wednesday, Jan. 2, 2019. Earnings are in full swing and stocks are reacting as they typically do to the good news, the bad and the mixed. But beware of the…
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Bank of America shares jump 7% after record earnings report
[ad_1] Bank of America reported better-than-expected profit and revenue for the fourth quarter on Wednesday, driven by a strong performance from its consumer-banking business and lower taxes. The results sent the bank’s shares up 7.16 percent. Here is how the bank did in the previous quarter compared to analyst expectations: Earnings: 73 cents per share…
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BlackRock earnings fall short of expectations
[ad_1] BlackRock, the largest asset manager in the world, reported quarterly earnings that missed analysts’ expectations on Wednesday as a market downturn late last year eroded its asset base. Revenue slightly exceeded a revised estimate by Refinitiv. Earnings for the asset manager fell nearly 60 percent to $927 million over the past year. On an…
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Goldman Sachs earnings Q4 2018 top expectations
[ad_1] Goldman Sachs shares advanced Wednesday after the firm posted fourth-quarter profit that exceeded expectations on strength in its investment banking and investing and lending divisions. The bank generated $6.04 per share in profit for the fourth quarter of 2018, versus the $4.45 per share estimate of analysts surveyed by Refinitiv. Excluding the impact of…
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Larry Fink foresees a bullish surge on a US-China trade deal
[ad_1] The markets would see a bullish surge in investor sentiment if the U.S. were to reach a trade deal with the China, BlackRock Chairman and CEO Larry Fink told CNBC on Wednesday. The deal would need to be substantial enough to reduce tension and include both sides calling off tariffs on each others goods,…
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Companies overly blaming China in profit warnings, Invesco suggests
[ad_1] It’s a region of the world that’s a source of jitters, but Invesco sees opportunity. The firm’s chief global market strategist, Kristina Hooper, lists China as a top investment play despite earnings warnings from U.S. multinational companies. They’ve been citing the trade war with the U.S. as a major headwind to profits. Goodyear warned…
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Your first trade for Wednesday, January 16
[ad_1] The “Fast Money” traders shared their first moves for the market open. Pete Najarian was a buyer of McDonald’s. Tim Seymour was a buyer of Alphabet. Steve Grasso was a seller of Netflix. Guy Adami was a buyer of Xilinx. Trader disclosure: On January 15, 2019 the following stocks and commodities mentioned or intended…
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Goldman Sachs CEO Solomon addresses 1MDB scandal
[ad_1] Since taking over from Lloyd Blankfein on Oct. 1, Solomon has been forced to address the burgeoning 1MDB scandal time and again: In November, he left company-wide voice messages for employees, saying he was “personally outraged” in the behavior of the accused Goldman bankers. Then in December, he defended the bank in a memo…
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Cramer calls Bank of America the ‘Amazon’ of financial stocks
[ad_1] Bank of America posted the strongest earnings numbers of the big banks so far, CNBC’s Jim Cramer contended Wednesday, while comparing BofA to e-commerce giant Amazon. “Bank of America is a growth stock after this,” Cramer said on “Squawk Box” after the bank reported better-than-expected profit and revenue for the fourth quarter. “You know…
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Wall Street reacts to the death of investing legend Jack Bogle
[ad_1] Jack Bogle brought Wall Street investing to the masses and the industry thanked him for it following his death. The father of the index fund passed away Wednesday in Bryn Mawr, Pennsylvania, according to a statement from the company he founded, Vanguard. Among his many accomplishments over 89 years: Founding and running Vanguard Group,…
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Unemployment worries in China grow as Beijing beefs up stimulus
[ad_1] One of the key areas of pain is in privately run, as opposed to state-operated, companies. The private sector contributed to more than 90 percent of new jobs in 2017 and accounts for more than 60 percent of economic growth, according to a state media report last year. But in the fourth quarter, Miller…
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Ocasio-Cortez to start ‘digging into’ banks on powerful committee
[ad_1] Freshman U.S. Rep. Alexandria Ocasio-Cortez is almost certain now to be seated on a powerful committee that will oversee Wall Street and the rest of the banking industry. The firebrand New York Democrat needs just a rubber stamp vote to get named to the House Financial Services Committee, according to a Bloomberg report citing…
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Citigroup says female workers earn 29% less than male workers
[ad_1] Simon Dawson | Bloomberg | Getty Images Michael Corbat, CEO of Citigroup Citi, one of the world’s largest banks, said Wednesday that its female employees earn 29 percent less than its male employees globally. A study by the bank shows that the median pay for women globally is 71 percent of the median for…
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China goes all out to boost its economy during trade talks
[ad_1] As the U.S. and China negotiate on trade, Beijing is working overtime, pulling multiple levers to steady its lagging economy and boost markets. China’s central bank on Wednesday injected a record $83 billion into the financial system, seeking to avoid a cash crunch. The move is the latest in a series of stimulus efforts…
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Unequal pay and fewer female advisors
[ad_1] The disparity can be seen across the board — from the corner office to the cubicle. Women account for less than 17 percent of senior leaders in U.S. investment banking, according to a Catalyst study released last year. And Morningstar found that less than 10 percent of all U.S. fund managers are women. The…
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Stocks making the biggest moves after hours: Alcoa, CSX and more
[ad_1] Check out the companies making headlines after the bell: Shares of CSX dropped about 2 percent after hours on Wednesday. The rail transportation company reported an earnings beat on the top and bottom line. CSX earned $1.01 per share this quarter, beating Wall Street’s estimates slightly. The company’s quarterly revenue was $3.14 billion. CSX…
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Top analysts’ 5 favorite growth stocks set to rally in 2019
[ad_1] Five-star JP Morgan analyst Doug Anmuth (Track Record & Ratings) picks e-commerce giant Amazon as one of his best ideas for 2019. He calls the valuation ‘compelling’ and predicts a revenue re-acceleration in Q1 2019. That’s with Amazon Web Services and advertising driving 80 basis points of operating margin expansion to 6 percent this…
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These stocks could surge the most if and when US and China reach a trade deal
[ad_1] Fears of a full-on trade war with China have been on top of investors’ minds for months. The volatile stock market suffered its worst year since the financial crisis in 2018, with the S&P 500 tanking a whopping 14 percent in the fourth quarter. U.S. companies have also sounded alarms on the trade war’s…
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Watch JP Morgan Chase CEO Jamie Dimon speak at the Economic Club of New York
[ad_1] [The stream is slated to start at noon ET. Please refresh the page if you do not see a player above at that time.] J.P. Morgan Chase CEO Jamie Dimon is slated to speak at the Economic Club of New York on Wednesday. Dimon’s comments come two days after the banking titan reported disappointing…
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Jamie Dimon says a hard ‘Brexit’ would be a disaster for the UK
[ad_1] J.P. Morgan Chase CEO Jamie Dimon said Wednesday that it would be in the United Kingdom’s best interest to avoid a hard exit from the European Union. “I think a hard Brexit will be a disaster for Great Britain,” Dimon said at the Economic Club of New York. “We don’t think it will happen…
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Bitcoin price news: Could BTC continue four-year January losing streak? | City & Business | Finance
[ad_1] Bitcoin (BTC) enjoyed a bright start to the year, which witnessed a steady price rise. The flagship cryptocurrency even rose about the psychologically important $4,000 level, fuelling hopes a long-term recovery could be on the cards. Bitcoin’s prices have however since seen a slump, making it possible BTC’s dry January run will be prolonged…
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Waters pledges ‘many hearings’ into bank conduct and targets Mulvaney
[ad_1] In addition to the threat against big banks, Waters said credit reporting agencies also would be scrutinized in the wake of the Equifax hacking scandal. The agency reported in 2017 that hackers had compromised personal information on more than 147 million Americans. Waters’ remarks followed through on a pledge she made during a House…
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BlackRock says ‘several thousand’ people got a fake letter pretending to be from CEO
[ad_1] BlackRock, the world’s largest money manager, said Wednesday that an unidentified party sent a bogus email disguised as annual letter from Chairman and CEO Larry Fink to “several thousand” employees and some journalists. “The hoax letter contains false and misleading statements about BlackRock’s plans to screen out of all investments companies that do not…
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A top banker was about to be made Santander CEO but his pay package was too big
[ad_1] Banking is known for its long hours and commensurately high paychecks. But it doesn’t always work out. Prominent European investment banker Andrea Orcel found that out the hard way this week, after losing a plum job as CEO of Spain’s Santander. He was named to the post in September after spending several years as…
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Brexit news: How will Brexit vote result affect the UK economy? | City & Business | Finance
[ad_1] Theresa May’s Brexit plan failed in Parliament on Tuesday after 432 out of a total 634 MPs voted against the deal. The defeat could now trigger devastating market reactions. After the vote on Tuesday, the pound plunged as the political uncertainty caused investors to take a step back, but traded higher against the euro…
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Global CRISIS warning: Darkening economy contributing to TOP RISK factors facing world | City & Business | Finance
[ad_1] The international organisation has raised concerns the world is “sleepwalking into a crisis” with global risks from political and economic tensions to climate change intensifying. In its latest Global Risks Report, WWF economists highlighted environmental threats as among the top risks facing the world this year. Economic growth, the report argues, is having an…
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Pound euro exchange rate: Why NOW could be the BEST time to buy your holiday money | City & Business | Finance
[ad_1] Sterling has remained volatile to Brexit uncertainty with the UK currency fluctuating on any major EU exit developments to come out of Parliament or Brussels. In a move which surprised analysts, the pound rallied after the Prime Minister lost her so-called meaningful vote, with her Brexit divorce deal being crushed by a record-breaking 432…
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Brexit anxieties spark goldrush among savers | Personal Finance | Finance
[ad_1] Demand for the precious metal has soared, as investors are increasingly wary about buying shares in uncertain times. The benchmark FTSE 100 index fell 12 per cent in 2018, with the 10-year-long bull market appearing to be drawing to a close and the volatility looks set to continue. Brexit is not the only threat, as…
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Pension WARNING: Credit changes could leave couples £7,000 A YEAR worse off | Personal Finance | Finance
[ad_1] The UK’s largest charity for older people has criticised the Government for announcing changes to benefits for mixed-age couples. Couples can currently claim pension credit of £255.25 per week if only one of them has reached state pension age, currently 65 for both men and women. But under the shake-up, which will be introduced…
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FDC, BAC, GS, BLK & more
[ad_1] Check out the companies making headlines before the bell: First Data – The financial technology company will be acquired by Fiserv in an all-stock deal with an equity value of $22 billion, or $22.74 per share. First Data had closed yesterday at $17.54. Bank of America – Bank of America reported quarterly profit of…
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Bitcoin KIDNAP warning: Cybercrime investigator calls on fast-track of new regulation | City & Business | Finance
[ad_1] David Carlisle, a prominent cryptocurrency intelligence agent, says criminal gangs are specifically targeting countries with little or no jurisdiction over bitcoin and the hundreds of smaller so-called ‘altcoins’. Only recently, two high profile kidnappings saw gangs attempt to extort more than £8m from the families of high profile victims. In Costa Rica, the owner…
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Brexit WARNING: Mark Carney says markets think EU exit could be DELAYED | City & Business | Finance
[ad_1] The pound clawed back losses immediately after it was revealed the Prime Minister’s divorce deal had been rejected by a record-breaking 432 votes to 202 in the Commons. Sterling had steadily weakened during the run-up to the vote by this morning had soared through the €1.130-mark. As of just before 11am, the pound has…
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Pound US dollar exchange rate: GBP remains buoyed after Brexit defeat for Theresa May | City & Business | Finance
[ad_1] Sterling remains buoyed against the dollar as the EU withdrawal agreement was rejected by 230 votes, the worst defeat for a prime minister in recent history. The pound likely rallied on the back of the scale of the defeat, with markets assessing that it could push MPs to explore other options, and the probability…
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Pound euro exchange rate: GBP steady against EUR after Brexit defeat for Theresa May | City & Business | Finance
[ad_1] Theresa May’s crushing defeat in the House of Commons over her Brexit deal last night failed to cause the kind of volatility in the pound that had been feared. Sterling did slump momentarily when the result of the vote was announced, but recovered again within minutes and actually rose, albeit only slightly. The reason…
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Pound exchange rate news: Why did GBP rally after Theresa May Brexit defeat? | City & Business | Finance
[ad_1] After weakening throughout Tuesday during the build-up to the vote, Sterling embarked on a surprise rally mere moments after it was confirmed the Prime Minister’s divorce deal had been rejected by a record-breaking 432 votes to 202. Mrs May now faces a vote of no confidence later this evening, launched by Labour leader Jeremy…
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China’s central bank injects record amount to stimulate economy
[ad_1] The central bank’s record cash injection of 560 billion yuan into the banking system on Wednesday came through “reverse repurchase agreements,” or buying short-term bonds from some commercial lenders so banks have more cash on hand. Sales of the bonds are called “repurchase agreements” and both measures comprise the central bank’s “open market operations.”…
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Treasury yields rise after UK PM May’s Brexit vote defeat
[ad_1] U.S. government debt prices were lower on Wednesday as traders digested news of the defeat of U.K. Prime Minister Theresa May’s Brexit deal. The yield on the benchmark 10-year Treasury note rose to 2.729 percent, while the yield on the 30-year Treasury bond increased to 3.091 percent. Bond yields move inversely to prices. May…
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UK inflation rate falls to LOWEST level in almost TWO years | City & Business | Finance
[ad_1] The rate of Consumer Price Index inflation was 2.1 percent in December, down from 2.3 percent in November, the Office for National Statistics said. December inflation came within touching distance of the Bank of England’s target of 2 percent. The decline was mainly led by petrol prices falling and from air fares, with seasonal…
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Futures higher after Brexit vote; bank earnigns in focus
[ad_1] In the previous session, the Dow Jones Industrial Average closed more than 100 points higher, with tech stocks supported by a boost in Netflix’s share price after the streaming giant said it would raise prices for its monthly subscriptions in the U.S. by 13 to 18 percent. That would be Netflix’s biggest price hike…
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Pound LIVE: GBP soars HIGHER as Sterling remains resilient after Theresa May Brexit defeat | City & Business | Finance
[ad_1] The Conservative Party leader was dealt a crushing blow in the Commons last night after her Brexit divorce deal was rejected by a record-breaking 432 votes to 202. Mrs May is now battling to retain her grip on power, with Labour launching a bid to oust the Government, while attempting to scrape together a…
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JP Morgan misses on profit expectations for first time in 15 quarters
[ad_1] J.P. Morgan Chase posted quarterly profit below analysts’ expectations for the first time in 15 quarters as whipsawing markets late last year impacted bond trading desks. The bank generated $1.98 per share in profit for the fourth quarter of 2018, below the $2.20 per share average estimate of analysts surveyed by Refinitiv. The biggest…
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Treasury yields fall; China economy, Brexit vote in focus
[ad_1] Michael Nagle | Bloomberg | Getty Images Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Wednesday, Jan. 2, 2019. Also weighing on investors is the partial government shutdown, which has entered its 25th day and is the longest shutdown on record. The Democratic Party is…
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JPM, UNH, DAL, AAPL, TLRY & more
[ad_1] Check out the companies making headlines before the bell: JPMorgan Chase – The bank reported quarterly profit of $1.98 per share, below the consensus estimate of $2.20, with revenue essentially in line. Consumer, community, and business banking results beat forecasts, but investment bank and wealth management results did not. UnitedHealth Group – The health…
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Jamie Dimon says shutdown could reduce economic growth to zero
[ad_1] Jamie Dimon, the J.P. Morgan Chase CEO who has been bullish on the U.S. economy, said the partial government shutdown could wipe out growth from the world’s biggest economy. “Someone estimated that if it goes on for the whole quarter, it can reduce growth to zero,” Dimon told reporters on a media call to…
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Wall Street bull Art Hogan cuts 2019 price target, sees wild swings
[ad_1] Art Hogan is out with a new, lower year-end target. The longtime market bull blames lingering uncertainty for the decision to slash his S&P 500 estimate to 2,850 from 3,250. “If the government stays shut for much longer, if we drag out this trade war for the entirety of the year — those earnings…
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Snap CFO Tim Stone resigns
[ad_1] Brendan McDermid | Reuters A banner for Snap Inc. hangs on the facade of the the New York Stock Exchange on the eve of the company’s IPO in New York. Snap chief financial officer Tim Stone is resigning to pursue other opportunities, the company said in a new filing Tuesday that sent the stock…
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Brexit SHOCK: How Parliament vote puts the GLOBAL economy at RISK | City & Business | Finance
[ad_1] Theresa May’s Brexit plan, as widely expected, failed in Parliament on Tuesday. The negotiated EU Withdrawal Agreement was rejected by a majority of 230 votes, with 432 voting against and 202 for. The defeat could now trigger a devastating market reaction. According to Francesco Moscone, professor of Business Economics at Brunel University London the…
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Sherwin-Williams shares plummet on profit warning
[ad_1] Shares of Sherwin-Williams tanked on Tuesday after the company warned that its earnings in 2018 came well short of guidance, citing weak sales in North American stores. The paint maker on Tuesday reported its preliminary results for the fourth quarter and full year 2018. Net income for 2018 is now expected to be $11.15…
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The $5 billion app trying to upend Wall Street
[ad_1] Robinhood, an investing app valued at over $5 billion, says it’s trying to “democratize America’s financial system” by making investing accessible to the little guy with free trades. It’s an eye-popping valuation for a financial company with opaque metrics and plenty of competition. The young company had its share of missteps as well, prompting…
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Bitcoin price news: Could crypto commence new bull cycle? | City & Business | Finance
[ad_1] Bitcoin’s (BTC) fortunes fluctuated during the last 12 months, with its value dropping from near $20,000 in December 2017, to lows of $3,360 (£2,634) almost a year later. There were, however, initial optimistic signs in the new year, after bitcoin passed the psychologically important $4,000 mark. But investors’ early hopes for the apparently ailing…
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How much does experience matter for investors?
[ad_1] Is experience really better for the investment business? I’ve been pondering this topic over the last few months, from the heady days of September, through the market peak, down the chute toward the Happy Holiday-Christmas Eve crater, then up the post-Christmas ladder. In particular, I want to feel some confirmation that my decades of…
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Trading on Wall Street is struggling and could mean bad news
[ad_1] Investment banks play a major role in the functioning of markets. They take a sell orders, find buyers and profit off of being the middlemen in a variety of securities transactions, including stocks and FICC, the industry acronym for fixed income (bonds), currencies and commodities. The industry’s revenue from trading is nowhere near the…
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The Fed’s Esther George indicates it’s time for a pause from rate hikes
[ad_1] The Federal Reserve likely will need to pause before implementing further rate hikes as it assesses the economy’s direction and the impact of its previous policy moves, Kansas City Fed President Esther George said Tuesday. “A pause in the normalization process would give us time to assess if the economy is responding as expected…
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Older drivers face 8 percent insurance hike for being loyal | Personal Finance | Finance
[ad_1] Average quotes increased by two per cent in the three months to December, (Image: Getty Images) Average quotes increased by two per cent in the three months to December, Confused.com said. But many people in their 50s and 60s saw price rises of up to eight percent, edging towards record levels last seen 18 months…
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PG&E, once a hedge fund favorite, sinks another 20% amid wildfire fallout
[ad_1] Such claims would be entitled for repayment under a bankruptcy proceedings and could work as a hedge that could offset losses in PG&E’s equity. The claims could also grant the hedge fund a say in how the company ultimately reorganizes itself. Baupost paid as much as 35 cents on the dollar to purchase $1…
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Dimon says JP Morgan `won’t be stupid’ with loans as end of cycle nears
[ad_1] Jamie Dimon has a message for his employees and investors: When the time comes, J. P. Morgan Chase will rein in loan growth at the nation’s biggest bank. Analysts peppered Dimon, 62, and his chief financial officer Tuesday with questions about loans amid concerns that the U.S. is nearing the end of a long…
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White House considering former PepsiCo CEO Indra Nooyi to head World Bank: New York Times
[ad_1] Indra Nooyi, the former PepsiCo CEO, is reportedly being considered to become the next head of the World Bank. The New York Times, citing several people familiar with the matter, said Tuesday that Nooyi has been courted by Ivanka Trump as an ally to the Trump administration. However, the report said the process for…
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Eurozone CRISIS: Euro hampered by ONE problem ‘that affects ALL of Europe’ | City & Business | Finance
[ad_1] Concerns have been triggered over the health of the eurozone economy after a string of disappointing economic data continues to point to a widespread slowdown in growth. In the latest release, eurozone industrial output dropped by more than expected in November, according to figures from Eurostat. Germany led the decline as it recorded a…
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Pound news: You are getting THIS many less euros for your money compared to before Brexit | City & Business | Finance
[ad_1] Sterling nudged up against major currencies this morning ahead of the so-called ‘meaningful vote’ on the terms in which Britain cuts ties with the bloc. As of 15:00 GMT, with just hours to go until MPs decide whether to back Prime Minister Theresa May and her vision for Brexit, the pound has somewhat lost…
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The ‘smart money’ is buying this market comeback in force, classic indicator shows
[ad_1] For investors who are waiting for cues to buy and sell stocks, the so-called “smart money” is saying jump in, according to a classic indicator on Wall Street. Over the past 12 trading days, the S&P 500, on average, traded lower in the first hour, while it traded higher in the last hour of…
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Your first trade for Tuesday, January 15
[ad_1] The “Fast Money” traders shared their first moves for the market open. Pete Najarian was a buyer of Merck. Tim Seymour was a buyer of Bank of America. Karen Finerman was a buyer of JPMorgan. Dan Nathan was a buyer of Stratasys. Trader disclosure: On January 14, 2019 the following stocks and commodities mentioned…
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Pound euro exchange rate: GBP rises against EUR as German economy stalls | City & Business | Finance
[ad_1] Further signs of a slowing eurozone economy came this morning in the form of a flash report of Germany’s full-year 2018 GDP figure. GDP came in at 1.50 per cent, down from 2.2 per cent in 2017, indicating the slowest rate of growth in five years. But these figures may hide the true extent…
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FTSE 100 price: What is happening to FTSE today ahead of CRUNCH Brexit vote? | City & Business | Finance
[ad_1] The FTSE share price is up today as China looks to take steps on stablising the Beijing economy – but investors remain cautious as the UK Parliament prepares to decide on a Brexit deal in a vote that could change the future of Britain forever. The pound continues to be broadly flat as currency…
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Pound exchange rate: How will GBP Sterling be impacted by Brexit vote TONIGHT? | City & Business | Finance
[ad_1] Sterling has remained volatile to any sudden movements in Britain leaving the EU, with analysts suggesting there is a correlation between political uncertainty and the pound plunging against major currencies. The pound was showing surprise strength versus the euro and US dollar today, having earlier reached €1.1247 and $1.2876 respectively. But with MPs set…
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Pound US dollar exchange rate: GBP calm against USD ahead of Brexit ‘meaningful vote’ | City & Business | Finance
[ad_1] The pairing is currently trading at rates of $1.285. Sterling rose ahead of the Parliamentary ‘meaningful vote’ on Theresa May’s Brexit withdrawal plan today, with the chances of the vote passing appearing slim. Today marks the fifth and final day of Brexit debates in Parliament, with opposition parties, the Democratic Unionist Party (DUP) and…
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Marks & Spencer store CLOSURES: 1000 M&S jobs at risk – 100 shops close in High St CARNAGE | City & Business | Finance
[ad_1] M&S is in the midst of shutting down over 100 stores as part of a turnaround plan and on Tuesday announced the latest 17 to shut. It is believed the latest cull will impact 1,045 members of staff. M&S have already closed 30 stores while another 25, including today’s list, have been announced. The retailer…
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Bitcoin WARNING: BTC could still plunge into an ABYSS – analysis | City & Business | Finance
[ad_1] A ticket to ride would have set you back around $4,300 on Christmas Eve. Investors were full of seasonal cheer and it seemed like we were hurtling towards 2019 with an abundance of optimism that the year ahead would deliver the sort of highs that had once ignited the world of cryptocurrency. Unfortunately, it…
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Germany economy SLUMPS to WEAKEST rate in FIVE YEARS after flirting with recession | City & Business | Finance
[ad_1] Germany grew by 1.5 percent in 2018 as Europe’s largest economy struggled with global economic cooldown, trade disputes between the United States and China and political uncertainty surrounding Brexit. The preliminary estimate from the Federal Statistics Office showed growth had slowed from 2.5 percent in the previous year. Berlin had left global investors on…
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Wells Fargo earnings Q4 2018
[ad_1] Wells Fargo is scheduled to report fourth-quarter earnings before the market opens on Tuesday. Here’s what Wall Street expects: Earnings: $1.16 cents per share, forecast by Refinitiv. Revenue: $21.73 billion, forecast by Refinitiv. Wells Fargo is still working through its regulatory issues after the Federal Reserve reportedly rejected its plan to prevent more consumer…
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Dow futures jump as China slowdown fears wane
[ad_1] U.S. stock futures pointed to a rebound on Tuesday, as positive headlines around China alleviated fears of an impending slowdown in the world’s second-largest economy. As of 4:30 a.m. ET, Dow futures traded 83 points higher, indicating a 70-point rise at the open. S&P 500 and Nasdaq futures were also slightly higher. China’s National…
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Pound LIVE: GBP climbing HIGHER against euro and US dollar ahead of Brexit meaningful vote | City & Business | Finance
[ad_1] The Prime Minister has called on politicians to back her agreement and the terms in which the UK will withdraw from the European Union (EU) in a series of debates across the last five days. Voting will start this evening at around 19:00 GMT and is expected to last up to two hours. The…
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Brexit vote: Will Theresa May’s bill boost pound? Pound could SOAR | City & Business | Finance
[ad_1] Parliament is still currently enveloped in debate surrounding Theresa May’s proposed Brexit bill, which has already been accepted by the European Union. The Prime Minister had formerly suspended the vote at the end of last year, as support for her proposal was unlikely to pass through Commons. Debates began once again last week and…
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The biggest risk for markets Tuesday might not be earnings
[ad_1] Prime Minister Theresa May’s Brexit plan is widely expected to fail in parliament Tuesday, but the defeat could still trigger a violent market reaction. “We could see knee-jerk volatility. She could lose by a historic margin. This could be a historic loss by the government,” said Marc Chandler, Bannockburn Global Forex chief market strategist.…
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Citigroup earnings Q4 2018 misses on revenue
[ad_1] Citigroup posted fourth-quarter profit that beat analysts’ expectations on better-than-expected expense declines and loan losses. The bank made $1.61 in profit per share excluding one-time impacts of the U.S. tax overhaul, beating analysts’ expectations for $1.55 per share. Operating expenses fell 4 percent to $9.89 billion in the quarter, driven in part by lower…
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Dave & Buster’s, Energizer & more
[ad_1] Check out the companies making headlines after the bell: Dave & Buster’s‘ stock popped more than 6 percent in after-hours trading after the company released an updated outlook for fiscal year 2018. The company said it expects fiscal-year revenue to range between $1.259 billion and $1.263 billion, up from a range of $1.243 billion…
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5 tips to help you become rich
[ad_1] The ultra-wealthy don’t get caught up in the latest fads, pouncing on the next “new” thing. Take bitcoin, for example. The cryptocurrency took off in 2017, making instant millionaires out of some early investors. That spurred a lot of people to jump in and try their hand at making a fortune. That could be…
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Three options strategies for the week: January 14
[ad_1] The “Options Action” traders share three options trading strategies to kick off the week. Carter Worth and Mike Khouw suggest a put spread in the Financials ETF for those looking to make a bearish bet. Mike Khouw also suggests a call spread in the Energy ETF. For those feeling bearish, Dan Nathan suggests a…
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Here’s how Goldman Sachs is playing earnings season
[ad_1] The recent surge in market volatility is beneficial to Cboe Global Markets, which owns the Chicago Board Options Exchange and the stock exchange operator BATS Global Markets, according to Goldman Sachs capital markets analyst Alex Blostein. The bank is predicting a 31 percent gain for Cboe’s stock over the next 12 months. Shares of…
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Investors should ’embrace’ a recession, Morgan Stanley says
[ad_1] Morgan Stanley equity strategists believe the stock market priced in an earnings recession when it plunged to December’s low, and it is very likely to retest that level. But the strategists, led by Mike Wilson, also say in a note that there is nothing to fear in a potential recession, and investors should “embrace…
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The end of the GE 'apocalypse' is here, analyst says
[ad_1] General Electric's stock is up more 17 percent to start this year and one Wall Street firm says the "end of apocalypse scenarios" are "now at hand" for GE. [ad_2] Source link
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JP Morgan is the next big earnings report
[ad_1] Janhvi Bhojwani | CNBC Jamie Dimon, CEO, JP Morgan Chase, speaking at the Business Roundtable CEO Innovation Summit, December 6, 2018. J.P. Morgan Chase is the next big company (and bank) to report earnings with results due Tuesday before the bell. The shares rose on Monday after Citigroup reported earnings that were better than…
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This chart shows we are likely in for a wild earnings season
[ad_1] (Click on the chart to expand.) Investors better buckle up as this earnings season could send them for a wild ride, according to data compiled by Goldman Sachs. The average implied move of an S&P 500 stock on earnings day has reached 7.4 percent, meaning the shares could move up or down by that…
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Bove sees global rise of Chinese currency as threat to US prosperity
[ad_1] Prior to China joining the World Trade Organization in December 2001, only a few hundred banks in the world would clear transactions completed in yuan. A decade later, it was reported that well over 10,000 banks, worldwide would transact in the yuan. So many global entities were using the yuan that in October 2016,…
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Germany leads eurozone into CRISIS as industrial output TUMBLES amid RECESSION fears | City & Business | Finance
[ad_1] Eurozone industrial output dropped by more than expected in November, according to figures from Eurostat, in the latest of a string of lacklustre economic data to come from the euro area. Industrial production in the 19-country currency bloc plunged by 1.7 percent in November on the month, marking the worst monthly reading since February…
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Russia ‘to replace US dollar with BITCOIN’ to get round US sanctions | City & Business | Finance
[ad_1] Vladislav Ginko, an economist at the Russian Presidential Academy of National Economy and Public Administration, claims Russia is braced to invest in the leading cryptocurrency after the rouble was left crippled by US sanctions. Russia was slapped with fresh restrictions in December, with the US expanding a blacklist of individuals allegedly involved in a…
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Tax changes – 5 key personal updates and how they will affect YOU in 2019 | Personal Finance | Finance
[ad_1] Economists are up in arms over how Brexit will play out and the impact it will have on the UK economy. But there are five key personal tax changes that are scheduled for this year that could have a huge affect on your money. The changes span from property to pensions, with some good…
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Yellen says ‘very possible’ the Fed has enacted its last rate hike
[ad_1] The Federal Reserve already could be at the end of its rate-hiking cycle, Janet Yellen, former central bank Chair Janet Yellen said Monday. “If there is a downturn in the global economy and that spills into the U.S. … It’s very possible we may have seen the last interest rate hike of this cycle,”…
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Pizza Express CRISIS: Restaurant chain feared to be next high street casualty | City & Business | Finance
[ad_1] Fears are growing over the future of the pizza restaurant franchise after it emerged owners may not be repaying its full debt. The company is owned by Chinese private equity firm Hony Capital, which is due to repay around £650million over the next three years. But their efforts may fall short, as the total…
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Stocks making the biggest moves premarket: GG, LULU, AAPL, PCG & more
[ad_1] Names on the move ahead of the open. [ad_2] Source link
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Pound US dollar exchange rate: GBP steady as markets brace for key Brexit vote | City & Business | Finance
[ad_1] The pound is rangebound against the US dollar and many of its other peers that the start of this week’s session ahead of tomorrow’s parliamentary vote on the EU withdrawal deal. So long as the vote is not delayed again, MPs will finally deliver their verdict on Theresa May’s Brexit deal in a vote…
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Turkey lira PLUNGES against US dollar after Donald Trump warns he will ‘DEVASTATE economy’ | City & Business | Finance
[ad_1] Mr Trump first announced he would withdraw US forces from Syria back in December but warned the US military would continue to hit Islamic State (ISIS) fighters there. The two NATO allies have been at loggerheads over US backing for the Kurdish YPG, which Turkey views as an extension of the outlawed Kurdistan Workers…
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Bitcoin braced for a STORM as rival Ethereum set for MAJOR hard fork THIS week | City & Business | Finance
[ad_1] The last time a leading altcoin forked it sent bitcoin into a downward spiral and created weeks of market volatility. That was early November, when Bitcoin Cash split to Bitcoin SV and Bitcoin ABC. Bitcoin had been holding steady throughout 2018 at a reasonably constant $6,500, but the BCH hard fork appeared to trigger…
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EUROZONE CRISIS: Germany leading euro into RECESSION – decline to CRIPPLE Italy and France | City & Business | Finance
[ad_1] Europe’s largest economy has rattled financial analysts over recent weeks after it was announced the German economy had contracted in the third quarter. Economists fear the nation could be on the cusp of a major downturn after a string of weak industrial and manufacturing figures pointied to a slowdown in growth. The eurozone has…
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Pound euro exchange rate: GBP boosted by shock eurozone industrial contraction | City & Business | Finance
[ad_1] The eurozone suffered a blow this morning as the latest industrial production figures revealed a sharp slowdown towards the end of last year. Whilst economists had forecast the figure would slip by -1 per cent, this was outpaced by a -1.7 per cent decline on the month and a serious -3.3 per cent in…
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Pound LIVE: Theresa May warns Brexit could be STOPPED – GBP ‘poised to move HIGHER’ | City & Business | Finance
[ad_1] Sterling has remained sensitive to Brexit uncertainty with economists expecting positive movement from the pound should any indication of Britain’s departure being pushed back or stopped altogether emerge. Britain is scheduled to quit the European Union on March 29, 2019, with a meaningful vote on the terms of the divorce scheduled to take place…
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$7.5 billion from Goldman Sachs over 1MDB is ‘reasonable’: Malaysia
[ad_1] Chris Jung | NurPhoto | Getty Images Logo of 1MDB (1Malaysia Development Berhad) on a bus window in Kuala Lumpur, Malaysia. Malaysian Finance Minister Lim Guan Eng said Monday that the $7.5 billion his country is seeking from American investment bank Goldman Sachs over the 1Malaysia Development Berhad scandal is an “extremely reasonable” amount.…
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Ford CEO says a ‘big surprise’ coming next year with electric vehicles
[ad_1] Ford Motor is gearing up to launch new electric cars as soon as next year, CEO Jim Hackett told CNBC on Sunday. Ford has previously announced its plans to invest $11 billion in electric vehicles by 2022 and produce 40 hybrid and fully electric cars, in a plan to revive its slowing business. However,…
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Nissan’s Carlos Ghosn was paid $8M last year by a Dutch entity – WSJ
[ad_1] Issei Kato | Reuters Passersby are silhouetted as a huge street monitor broadcasts news reporting ousted Nissan Motor chairman Carlos Ghosn’s indictment and re-arrest in Tokyo, Japan December 10, 2018. Carlos Ghosn, the recently ousted Nissan Motor chairman, received about $8 million in pay in 2018 from a Netherlands-based entity that was owned by…
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Stock market rally has legs suggests BofA currency chart
[ad_1] Bank of America-Merrill Lynch sees evidence the stock market’s bullish activity has near-term staying power. And, it’s using a currency chart to illustrate its case. Paul Ciana, the firm’s chief global technical strategist, highlighted the dollar versus the Chinese yuan on CNBC’s “”Futures Now” to show the strength of “risk on” (or high-yielding, risk-sensitive)…
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City prepares for deal vote fallout | City & Business | Finance
[ad_1] They are bringing in the additional manpower to help their clients manage what are expected to be volatile markets in the aftermath of the vote, which the Government is tipped to lose by more than 100 votes. The vote on the withdrawal agreement Prime Minister Theresa May struck with the European Union was originally…
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Crackdown needed on late payers | City & Business | Finance
[ad_1] Wednesday marks the first anniversary of the demise of Carillion, the former construction to outsourcing giant, which saw 20,000 jobs lost and the pensions of nearly 30,000 staff and former employees compromised. Its collapse spurred a Government clampdown on late payment practices, but the Federation of Small Businesses (FSB) said more needs to be…
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Buying last year’s losers might be the way to beat the market in 2019
[ad_1] Daniel Sorabji | AFP | Getty Images Traders work at the offices of CMC Markets in the City of London on December 10, 2018 as Britain’s Prime Minister Theresa May makes a statement in the House of Commons announcing the government’s intention to delay the ‘meaningful’ vote on the Brexit withdrawl agreement. Last year’s…
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Federated sees a 2019 resurgence for 4 beaten up stock groups
[ad_1] Federated Investors’ Steve Chiavarone sees four unloved groups bouncing back this year: Dividend stocks, cyclical names, small caps and emerging markets. He’s pinning his bullish case on a Federal Reserve that may not be as aggressive in raising interest rates in 2019. “I think they’re prepared not to hike any time soon,” the fund…
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Government shutdown pours cold water on 2019 IPO ambitions
[ad_1] This year may be a disappointing one for start-ups planning to go public. Those aiming to list in the first quarter are stuck in limbo, unable to start the application process until the government is fully re-opened. Companies like Airbnb, Uber, Lyft, Pinterest and Slack have all signaled their desire to do an initial…
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Pound to euro: British pound CLIMBS to its highest since late November | City & Business | Finance
[ad_1] The British pound climbed to its highest since late November on Friday, amid speculation of a Brexit delay. Lukman Otunuga, research analyst at FXTM, wrote: “Sterling’s aggressive appreciation following the report continues to highlight how the currency remains extremely sensitive and highly reactive to Brexit headlines.” At 7pm GMT, the pound to euro rate was 1.1202 EUR,…
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Netflix, Amazon on track to be the best trades of this decade
[ad_1] Netflix and Amazon, the disruptive internet pair loved by Wall Street, could make history if they keep up their stellar performances this year. Barring a major downturn, the two stocks will end up as the best-performing assets of the decade. Since the start of 2010, Netflix has risen more than 4,000 percent while Amazon…
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NFLX, SBUX, PCG and more
[ad_1] Check out the companies making headlines before the bell: Netflix — Shares of online streaming service rallied more than 2.5 percent in premarket trading Friday after both UBS and Raymond James urged clients to buy the stock. UBS hiked its rating on the stock to “buy” from “neutral,” writing that after six months of…
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Earnings season may turn up some stock market winners after December’s battering
[ad_1] After the market’s December meltdown, earnings season could turn up some winners among the rubble, analysts said. What fourth quarter results will do for the market’s rebound from December’s trough is tough to say, given other factors, like trade talks, Washington dysfunction and the UK’s upcoming Brexit vote. But analysts do see some potential…
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Beaten-down value stocks on verge of comeback: Wells Fargo
[ad_1] Wells Fargo’s Christopher Harvey is turning positive on beaten-down value stocks. He expects them to be the big winners in the second half of 2019. Harvey calls it a “pretty big departure” from his former stance — acknowledging he didn’t miss many opportunities to dismiss the group as a profitable play over the past…
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If the shutdown lasts two more weeks, the cost to the economy will exceed price of Trump’s wall
[ad_1] As the government shutdown nears a record-breaking run, retailers like Best Buy and Bed Bath & Beyond could start to feel the bite from lower consumer spending. With 800,000 federal workers not being paid and a potential delay in tax refunds, the economic effect of the partial government shutdown could be at least $2…
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Lidl Christmas sales results boosted by premium range as Brexit fails to dent supermarket | City & Business | Finance
[ad_1] The discount supermarket toasted a 33 percent increase in year-on-year sale for its Deluxe range over the six weeks to December 30. It also tempted shoppers to transfer £58million worth of spending from Waitrose, M&S and the “big four” – Tesco, Asda, Sainsbury’s and Morrisons. Among the best sellers in its Deluxe range were…
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Pensioners missing out on THOUSANDS by not claiming full State Benefits entitlement | Personal Finance | Finance
[ad_1] Pensioner households are short-changing themselves by £1,058 a year on average, with around half, or 49 percent, failing to claim anything at all, according to figures by Just Grouo. A further two in 10, or 20 percent, are missing out on an average £855 a year by claiming but receiving too little. Stephen Lowe,…
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Ocasio-Cortez in line for banking post, and that could be bad news for Wall Street
[ad_1] Big banks could be about to get a high-profile enemy in a very powerful place. Freshman Rep. Alexandria Ocasio-Cortez, who is a registered Democrat but identifies as a democratic socialist, is in line to be appointed to the House Financial Services Committee, according to a Politico report. The New York legislator has vowed to…
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Bitcoin price news: Will BTC slump to yearly LOW? | City & Business | Finance
[ad_1] Bitcoin (BTC) took a battering in the last 12 months, seeing its value plummet from £15,173 ($19,352) on December 17, 2017, to just £2,634 ($3,360) on December 12, 2018. But there were early signs of a bullish bounce back at the beginning of 2019, with bitcoin surpassing the psychologically important $4,000 mark this week.…
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Fair wind behind Hawk Yachts | City & Business | Finance
[ad_1] It claims to be able to build its boats at half the cost of its rivals as it uses commercial shipyards to finish them. Chief operating officer Nick Lockett said that unlike other superyachts, which tend to stay in the Mediterranean and are not equipped to go further afield, its boats are designed to travel…
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Pound euro exchange rate: Weakening eurozone data sparks fear in ECB policymakers | City & Business | Finance
[ad_1] The latest disappointing data point came from Spain this morning, which revealed a sharp -2.6 per cent contraction in industrial output in November. This was quickly followed by figures from Italy, which also fell into contraction territory as industrial production shrank 1.6 per cent in the same month; worse still was the yearly figure,…
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Germany tells EU ‘get tough on China’ as BDI warns of ‘CHALLENGES’ facing Berlin | City & Business | Finance
[ad_1] The influential Federation of German Industries (BDI) stressed concern over challenges the state-driven economic model in China presents to the EU and Germany. In a paper presented on Thursday, the BDI stressed that while German firms need China, Beijing must be willing to further open its domestic market. BDI President Dieter Kempf said: “Beijing…
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Pound US dollar exchange rate: GBP fails to gain due to Brexit paralysis | City & Business | Finance
[ad_1] The pound has failed to make any gains on the US dollar today after a slew of UK data releases, which were generally overshadowed by continuing Brexit discussions. The most important release today was the UK’s GDP figures for November which showed an increase of 0.2 per cent, meaning the UK economy continued to…
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Bitcoin CRUNCH TIME: What happens next with BTC is ANYONE’S guess – analysis | City & Business | Finance
[ad_1] With its long-spent booster rockets a distant memory, the main engine fought courageously for almost three days before one final puff of smoke marked the point where the nose slowly dipped below the horizon and a seemingly irrecoverable dive began. Sunday’s curious sharp rise which began what many believed to be the original cryptocurrency’s…
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Germany CRISIS: Economy minister says Berlin must ACT NOW as economists fear RECESSION | City & Business | Finance
[ad_1] Germany has been under the spotlight in recent weeks after it was announced the economy had contracted in the third quarter, following be a string of weak industrial and manufacturing figures pointing to a slowdown in growth. Fears of a downward trend for the financial hub of Europe were further compounded after gloomy figures…
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Pound exchange rate: GBP treading water against euro, US dollar after surprising GDP data | City & Business | Finance
[ad_1] The UK economy grew by 0.2 percent in November, above expectations of a 0.1 percent rise expected by economists, according to data from the Office for National Statistics (ONS). However, the picture was not entirely positive as GDP rose 0.3 percent over the three months to November compared with the previous quarter, marking the…
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Virgin and Stobart agree to buy Flybe in £2.2m rescue deal to save cash-strapped airline | City & Business | Finance
[ad_1] Flybe put itself up for sale in November 2018 after warning it could lose £22million under growing financial pressure including poor demand and soaring fuel prices. The companies, in conjunction with hedge fund Cyrus Capital Partners, have agreed an offer of just 1p per share for Flybe, which put itself up for sale in…
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For the first time since 2006, not a single US bank failed last year
[ad_1] Al Seib | Los Angeles Times | Getty Images A Los Angeles Police Officer uses yellow tape to cordon off an area for customers with names on a list waiting to enter the IndyMac Federal Bank branch in Encino in July, 2008. Not a single bank failed last year, a rare occurrence that highlights…
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Boeing could rise 30% on strong airplane sales, Morgan Stanley says
[ad_1] Mike Kane | Bloomberg | Getty Images An employee works on the nose of a Boeing airplane at the company’s facility in Everett, Washington. Boeing could have a major surge in the next 12 months on the back of strong commercial airplane sales, according to an analyst at Morgan Stanley. Analyst Rajeev Lalwani upgraded…
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LB, BA, KSS and more
[ad_1] Check out the companies making headlines before the bell: Macy’s — The retailer’s shares plunged more than 18 percent in pre-market trading after the department store chain reported weak holiday sales results for 2018 and cut its earnings outlook for the year. Twitter — Twitter shares rose more than 3 percent in premarket trading…
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Goldman raises gold forecast for 2019 on recession fears, Fed uncertainty
[ad_1] Chris Ratcliffe | Bloomberg | Getty Images Canadian maple leafs sit on the faces of one ounce gold coins in this arranged photograph at Gold Investments Ltd. bullion dealers in London, U.K., on Tuesday, July 15, 2014. Goldman Sachs has found the safe haven gold more attractive after a volatile December. The bank on Thursday…
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Netflix, Activision Blizzard and more
[ad_1] Jason Alden | Bloomberg | Getty Images A selection of Netflix original content sits displayed in the Netflix app on an Apple iPad tablet device in this arranged photograph in London. Check out the companies making headlines after the bell: Netflix shares rose more than 1.5 percent after UBS upgraded the company to buy…
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The world’s most expensive divorces
[ad_1] Estimated settlement amount: As high as $68 billion It remains to be seen how the divorce of Jeff and MacKenzie Bezos plays out but, given his status as the wealthiest man in the world, it’s a sure bet the eventual settlement will place the exes at the top of the pack for expensive splits.…
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Watch Fed Chair Jerome Powell address the Economic Club of Washington, D.C.
[ad_1] [The stream is slated to start at 12:30 pm ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chairman Jerome Powell addresses the Economic Club of Washington, D.C. in a panel talk Thursday afternoon. The central bank chief is likely to discuss the path of…
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Government shutdown threatens to have bigger impact on economy
[ad_1] So far, the shutdown has had minimal impact on unemployment claims, but the number of federal employees filing for benefits could jump significantly. “Federal employees are supposed to get paid tomorrow for the pay period covering December 23-January 5. The 800k workers currently furloughed will obviously get nothing,” wrote Societe Generale economist Omair Sharif,…
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Government shutdown could start to show in economic data
[ad_1] A prolonged government shutdown could have a negative impact on the U.S. economy, Federal Reserve Chairman Jerome Powell said Thursday. “In the short term, government shutdowns don’t last very long. They typically have not left much a market on the economy, which isn’t to say there’s plenty of personal hardships that people undergo,” Powell…
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Powell says balance sheet will be ‘substantially smaller’
[ad_1] The Federal Reserve’s balance sheet will be reduced significantly from where it is now, Chairman Jerome Powell said Thursday in remarks signaling that more monetary tightening is ahead. Powell did not specify how much smaller the central bank’s portfolio of bonds would get, but the remark seemed to take some momentum out of the…
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Fed Chief Jerome Powell says Apple’s iPhone sales warning shows China economy is slowing
[ad_1] Mark Wilson | Getty Images Federal Reserve Board Chairman Jerome Powell speaks during a news conference on December 19, 2018 in Washington, DC. The US Federal Reserve raised the short-term interest rates by a quarter percentage point on Wednesday, the fourth increase of the year, and signaled two more hikes could come in 2019.…
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Amid shutdown, thousands of federal workers file for unemployment
[ad_1] A few days ago, Will Kohler, a tax examiner for the IRS, filed for unemployment. He’s been out of work for three weeks now due to the gridlock in Washington, D.C. “It seems like it’s going to go on forever,” Kohler, 55, said, from his house in Covington, Kentucky. “I need to eat.” He…
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Probability of a recession rises to highest in 7 years: WSJ Survey
[ad_1] The odds of a recession have grown to the highest level in seven years, according to a monthly poll by The Wall Street Journal. Economists surveyed by the Journal are seeing on average a 25 percent chance of a recession within the next 12 months, the highest level since October 2011 and up from…
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Ford to cut THOUSANDS of jobs across Europe in major shake-up | City & Business | Finance
[ad_1] The car maker is eyeing up ways to reduce costs and exit less profitable markets after struggling to turn a profit. Ford posted a loss of €245 million loss before interest and taxes in the third quarter. As part of the major shake-up, the company will also discontinue loss-making vehicle lines. Ford currently employs 53,000 people…
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Bitcoin CYBER-ATTACK WARNING: Security experts warn attack could happen AT ANY TIME | City & Business | Finance
[ad_1] Just days after hackers infiltrated Ethereum Classic, potentially stealing almost half a million pounds in tokens, leading figures in digital security say bitcoin could be next. The problem lies in the underlying technology – blockchain – which many regard as the most sophisticated and impenetrable digital data resource in existence. However, for all its…
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Germany recession ‘NOW LIKELY’ – Berlin hit with SHOCK economic forecast | City & Business | Finance
[ad_1] The gloomy forecast for the financial infrastructure of Berlin came from Stefan Schilbe of HSBC, who described recent downcast economic data from Germany as both “bad and unexpected”. Fears of an economic collapse have intensified in recent weeks after figures released back in November revealed the German economy shrunk for the first time since…
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Macy’s shares COLLAPSE 18 percent: Christmas retail APOCALYPSE hits US and UK high street | City & Business | Finance
[ad_1] The department store giant recorded a meagre 1.1 percent gain in same-store sales and online sales during the festive season between November and December. As a result, Macy’s downgraded their profits outlook in a statement released on Thursday in which the company revealed sales were now expected to grow about 2 percent. This is…
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Macy’s shares COLLAPSE 18 percent in US: Is this the end of big US retail giants? | City & Business | Finance
[ad_1] Macy’s weak sales were reported on Thursday and the US department store has now cut its earnings outlook for 2019. Based on the report, Macy’s expects no growth in net sales for fiscal 2018. The company’s previous projection saw Macy’s sales up between 0.3 and 0.7 percent. Is this the end of big US…
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Bitcoin price news: Why did bitcoin DROP this morning? | City & Business | Finance
[ad_1] The last 12 months have proved tricky for bitcoin, which witnessed BTC lose most of its value. But bitcoin has enjoyed a promising start to the year, with bullish sentiment coinciding with a trading volume spike pushing BTC above the psychologically important $4,000 level. However the token took a sharp southwards on Thursday morning,…
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Pound US dollar exchange rate: GBP stabilises following dovish Federal Reserve speech | City & Business | Finance
[ad_1] While the pound is ticking lower against the US dollar this morning, it remains up on the week following some dovish signals from the Federal Reserve. The release of the minutes from the Fed’s December meeting revealed that policymakers were split on whether to raise interest rates last month, with some members arguing that the…
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US stocks: Why did the markets PLUMMET in December – truth revealed | City & Business | Finance
[ad_1] Stock markets traditionally see a rise at the end of each year, due to a “Santa rally”. This means investors tend to be full of optimism during the festive period and so this is reflected in the market. But at the end of last year, both the S&P 500 and Dow Jones had their…
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Germany MUST brace for FINANCIAL CRISIS: Stark WARNING to Berlin over MAJOR RECESSION | City & Business | Finance
[ad_1] The nation which has the largest economy in Europe has been hit by a raft of weak economic data over recent months, sparking concerns of a financial cooldown and a new negative trend. Fears of a recession being on the cards have even begun to emerge, with analysts suggesting the latest disappointing production data…
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Pound euro exchange rate: GBP slips as British retailers suffer worst Xmas in a DECADE | City & Business | Finance
[ad_1] The British like-for-like retail sales figures for December were released in the early hours of this morning showing a further-than-expected fall to -0.7 per cent in the run-up to the festive season. Retailers suffered their worst Christmas in 10 years, which some commentators claim to be further signs of an economic slowdown ahead of the…
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John Lewis news: Struggling high street giant tells staff bonuses could be SCRAPPED | City & Business | Finance
[ad_1] Around 83,000 staff are usually awarded the payout in March, but the retailer said on Thursday that it expects profits to be “substantially lower” this year amid slower sales growth, meaning the bonus could be axed. Chairman Sir Charlie Mayfield said: “The board will need to consider carefully in March, following the usual process,…
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Debenhams and M&S sales FALL as UK high street suffers WORST Xmas since financial crisis | City & Business | Finance
[ad_1] In the latest dent for British retailers, Debenhams recorded a dip of 3.4 percent in like-for-like sales in the six weeks to January 5. In the UK, sales were 3.6 percent lower due to weaker footfall. Marks and Spencer said like-for-like clothing and home sales dropped 2.4 percent over the 13 weeks to December…
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Nasdaq Dubai launches Saudi futures trading for investors
[ad_1] But the country of 33 million has seen drops in foreign direct investment (FDI) flows of late, something it needs for its ambitious Vision 2030 initiative to diversify the country’s economy and grow private sector jobs. Obstacles remain in the form of skills shortages and rising unemployment in the kingdom, as well as growing…
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Pound LIVE: GBP down against euro and US dollar as Brexit meaningful vote ticks nearer | City & Business | Finance
[ad_1] Sterling has failed to make gains against the two major currencies this morning despite a report suggesting Prime Minister Theresa May is poised to back down to Labour demands in order to push through a deal for Britain leaving the European Union (EU). As of 08:45 GMT the pound is trading lower at €1.1051…
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Beijing issues statement on US-China trade talks
[ad_1] In a Thursday morning statement, China’s Commerce Ministry said the just-concluded round of trade talks with the U.S. were extensive and established a foundation for the resolution of each others’ concerns. Both parties, the Beijing ministry said, agreed to maintain close contact. Here’s the full three-sentence statement, as translated from Chinese by CNBC: From…
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Analysts see ‘signs of modest progress’ in latest US-China trade talks
[ad_1] In the wake of the latest round of trade talks between officials from Washington and Beijing, outside observers are noting that some progress appears to have been made — but there’s still a long way to go before a meaningful deal. On Wednesday, the U.S. trade delegation released a statement noting a long list…
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Trump is probably going to get his way with the Fed this year
[ad_1] All of that might mollify Trump, though questions remain about whether he would try to remove Powell should the Fed not do as the president likes. In Wall Street’s view, Trump may have the authority to remove the Fed chair for “cause” but likely would have a hard time proving his case just because…
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Stock market comeback faces big test with earnings season starting
[ad_1] Fourth-quarter reporting season, with major banks releasing numbers next week, will also serve as an important transition period between 2018’s strong double-digit profit growth and 2019’s much slower single-digit pace. Earnings are expected to be strong, up 14.7 percent in the fourth quarter, but corporate executives will be discussing the activity in the current…
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Bed Bath & Beyond, KB Home and more
[ad_1] Check out the companies making headlines after the bell: Bed Bath & Beyond shares soared more than 20 percent during after hours trading as the home-goods company reported it is ahead of its long-term financial goals and beat earnings estimates. The company said it is ahead of schedule in terms of slowing down the…
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Stocks making the biggest moves premarket: AAPL, MS, BAC, TLRY, FL & more
[ad_1] Names on the move ahead of the open. [ad_2] Source link
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‘Shameless’ bears are ignoring strong growth signals: Phil Orlando
[ad_1] Federated Investors’ top market watcher is calling long-time bears “shameless.” According to Phil Orlando, they’re guilty of putting extreme negativity ahead of strong economic fundamentals. “Toxic sentiment is what drove the market down so sharply during the month of December,” the firm’s chief equity strategist said Tuesday on CNBC’s “Futures Now.” “Last Friday was…
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Your first trade for Wednesday, January 9
[ad_1] The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of Macy’s. Karen Finerman was a buyer of Foot Locker. Brian Kelly was a buyer of United States Steel. Guy Adami was a buyer of Netflix. Trader disclosure: On January 8, 2019 the following stocks and commodities…
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Fed ‘can afford to be patient’ about next rate hikes, FOMC minutes show
[ad_1] The Fed hiked its benchmark rate a quarter point to a range of 2.25 percent to 2.5 percent, the fourth increase in the year and the ninth since policy normalization began in December 2015. “With an increase in the target range at this meeting, the federal funds rate would be at or close to…
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Fed officials see benchmark rate becoming ‘volatile’ during balance sheet run-off
[ad_1] The benchmark that the Federal Reserve uses to set interest rates could become more volatile as the central bank continues to unwind the portfolio of bonds on its balance sheet. Fed officials conducted further discussions about the impact of balance sheet reduction at their December meeting, with members noting the work it will take…
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Lennar said it can’t give a 2019 forecast because market so ‘uncertain’
[ad_1] Mark Elias | Bloomberg | Getty Images A stucco crew plasters the exterior of a new two-story home at the Lennar Corp. Madison Pointe at Central Park development in Doral, Florida. The U.S. housing market has become so cloudy that Lennar says it can’t give investors guidance for 2019. The second biggest homebuilder in…
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Fed’s Bullard takes stand against more interest rate hikes
[ad_1] St. Louis Fed President James Bullard thinks interest rates have gone high enough and could endanger an otherwise strong economy if they rise more. Coming off a year in which the Fed hiked rates four times, Bullard told The Wall Street Journal an in interview Tuesday that further policy tightening could jeopardize an otherwise…
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Germany on brink of RECESSION? Industrial output PLUNGES in Europe’s economic powerhouse | City & Business | Finance
[ad_1] Germany has been hit by weaker than expected industrial output figures for the third consecutive month, fuelling signs that companies are shifting into a lower gear due to mounting political instability in Europe and abroad. The brakes have seemingly been slammed on a nine-year expansion in Europe’s economic powerhouse as an ongoing trade war…
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Mortgage news: Overpay now and cut years off your mortgage | Personal Finance | Finance
[ad_1] It can also help older homeowners who face a shortfall due to an underperforming endowment mortgage and risk going into retirement owing tens of thousands of pounds. This follows news that millions of UK homeowners have underestimated the time it will take to pay off their mortgage. Many will have to work on for longer…
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India rupee WARNING: Economist warns ‘NOTHING to be optimistic about’ in DAMNING forecast | City & Business | Finance
[ad_1] Prakash Sakpal, Asia economist at ING, is predicting the rupee will weaken again despite recovering some 6 percent after plunging to a record low of 74.485 back in October. At its lowest point last year, the INR had lost around 14 percent of its value against the US dollar. The crippled currency had slowly…
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Why the EU MUST soften to Britain over Brexit – shock economic forecast for no deal | City & Business | Finance
[ad_1] The World Bank has issued a gloom-ridden forecast for how a no-deal Brexit could affect nations from Egypt to Morocco in the event of Britain leaving the EU without trade deals in place. The Washington-based organisation also listed Belarus, Ukraine and Moldova in the east and countries around the Mediterranean as those who could…
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Bitcoin news: Can security tokens save cryptocurrency? What are they? | Personal Finance | Finance
[ad_1] Bitcoin saw almost 17 percent wiped off its value in November at the end of a year-long slump which left investors reeling. After once being worth almost $20,000, BTC had fallen to $4,000 by the end of 2018. The token remains hovering about the $4,000 mark but there are fears the bear market could…
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Pension scam WARNING: Savers urged to stay alert as cold-calling BAN begins | Personal Finance | Finance
[ad_1] Pension scams can devastate savers with fraudsters conning victims out of thousands of pounds worth of their hard-earned life savings. It is believed eight scam calls take place every second, or 250 million calls per year, according to previous research from the Money Advice Service (MAS). From these, scammers stole an average of £91,000…
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Ripple price prediction: Will Ripple RISE this year? | City & Business | Finance
[ad_1] Cryptocurrencies have experienced a catastrophic twelve months, which saw bitcoin drag its fellow digital assets down in value. Ripple was among the cryptocurrencies which took a hit, falling to a low of £0.22 ($02.81) on December 15, 2018 according to CoinDesk.com data. Yet following an industry-wide rally, Ripple recently rebounded and is now worth…
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Pound euro exchange rate: GBP stable despite surprise fall in eurozone unemployment | City & Business | Finance
[ad_1] The pound is trading in a narrow range against the euro this morning as markets welcome the Eurozone’s latest labour figures. According to data published by the European statistics agency, Eurostat, unemployment in the bloc fell to 7.9 per cent in November, sliding from a downwardly revised 8 per cent in October. This was…
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Eurozone economy on BRINK: Optimism FALLS in latest set of WEAK data for bloc | City & Business | Finance
[ad_1] Economic sentiment in the eurozone economy deteriorated by more than expected in December in the latest of a raft of disappointing figures for the European Commission. The bloc has been hit by gloomy forecasts from economists who have been predicting a slowdown of growth for the last quarter of the year, after GDP growth…
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Pound US dollar exchange rate: Easing global risk sentiment continues to weigh on USD | City & Business | Finance
[ad_1] News that the US and China agreed to extend their trade talks in Beijing for a third, unscheduled day has further decreased global risk sentiment. The latest development caused the dollar exchange rates to fall, with the USD index edging 0.1 per cent lower. With the talks now complete, details will be released soon.…
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Dentists’ favourite BABYCUP seals China deal as parents see sipping makes sense for infant | City & Business | Finance
[ad_1] A £120,000 export deal will see 60,000 of the cups sold there this year and puts the Surrey-based producer on course for a £300,000 turnover. Similar in size to a shot glass and free of the BPA industrial chemicals often found in some reuseable plastic containers, brightly-coloured Babycups “are perfectly sized for little hands and…
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Futures higher as US and China conclude trade talks
[ad_1] Damir Sagolj | Reuters President Donald Trump and China’s President Xi Jinping meet business leaders at the Great Hall of the People in Beijing, China, November 9, 2017. Investor focus will also likely be attuned to political developments, as the U.S. government shutdown showed no signs of letting up. President Donald Trump delivered an…
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Bitcoin price news: Will bitcoin CRASH below $4,000 this year? | City & Business | Finance
[ad_1] Bitcoin (BTC) had a torrid time in 2018, which saw the flagship cryptocurrency slump to £2,889 ($3,687) by the end of the year. But the token has experienced a promising beginning to 2019, with a bounce back above $4,000, following a spike in trading volume. Yet despite these bullish signs, things are about to…
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Bitcoin latest: Is THIS the one thing putting investors OFF cryptocurrency? | City & Business | Finance
[ad_1] Experts believe the one thing holding people back from embracing cryptocurrency is the complicated nature of the technology. With more easy-to-understand knowledge about how things like bitcoin work, the leading figures claim mass adoption could come quickly throughout the UK. Mati Greenspan, senior market analyst with eToro, said: “Now that awareness has peaked, the number…
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Treasury yields climb as US-China trade talks conclude
[ad_1] AFP Contributor | AFP | Getty Images China’s President Xi Jinping (L) and US President Donald Trump attend a welcome ceremony at the Great Hall of the People in Beijing on November 9, 2017. Political developments will also likely be another area of focus for investors Wednesday, as the U.S. government shutdown showed no…
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Pound LIVE: GBP higher against euro and US dollar as Brexit meaningful vote debate starts | City & Business | Finance
[ad_1] Parliament will today start debating the terms of Prime Minister Theresa May’s withdrawal deal for Britain leaving the European Union (EU) as the countdown to the meaningful vote ticks nearer. The vote is expected to be held next week on January 15. Brexit negotiations have proved to be a major influencer for pound movement…
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Rising yields to hit stocks, maybe a bitcoin bounce
[ad_1] Gundlach said 2019 will continue to be a volatile year. He said he expects higher yields will hurt stocks in a “tug of war.” The stock market will be in a push-pull with rates expectations going forward. Gundlach highlighted the difference between the Federal Reserve’s tightening agenda reflected in its dot plot and the…
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JCPenney, H&R Block and more
[ad_1] Check out the companies making headlines after the bell: JCPenney shares rose as much as 8 percent after hours as the company announced its same-store comparable sales decreased 3.5 percent during the holidays. It also said it expects to “generate positive free cash flow in fiscal 2018, reduce inventory in excess of $225 million…
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Hedge funds beat the S&P 500 for the first time in a decade
[ad_1] Daniel Sorabji | AFP | Getty Images Traders work at the offices of CMC Markets in the City of London on December 10, 2018 as Britain’s Prime Minister Theresa May makes a statement in the House of Commons announcing the government’s intention to delay the ‘meaningful’ vote on the Brexit withdrawl agreement. While a…
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Stocks gain under the ‘first five days’ rule, setting up for good 2019
[ad_1] When stocks bounce at the beginning of the year, history shows the market is more often up than down at year-end. Therefore, this year’s early January performance could be a good omen. Stocks finished Tuesday with a gain, with the S&P 500 up 2.6 percent at 2,574, in the first five days of the…
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Bitcoin price news: Is 2019 bitcoin’s year to RISE? Bitcoin price predictions | City & Business | Finance
[ad_1] The cryptocurrency has jumped by 0.32 percent in 24 hours and reached a high of $4,091.06 on Sunday, January 6. On Tuesday, it hit $4,109.02, and the lowest it has dropped since Sunday is $3,997.21, according to CoinMarketCap. The January performance marks a decidedly more upbeat return for Bitcoin, which has fallen around 80…
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Disney soaring off market lows, one trader betting on bigger rally
[ad_1] Disney shares are up more than 11 percent since the market bottomed Dec. 24, and options traders don’t seem to see any signs of slowing for the rally. The stock rose 1 percent Monday despite the company announcing that it would raise admission prices to Disneyland ahead of the opening its brand-new, 14-acre “Star…
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Barclays becomes latest Wall Street bank to slash 2019 stock forecast on earnings fear
[ad_1] Barclays just joined a stampede of Wall Street banks cutting stock forecast for 2019. The bank lowered its year-end price target for the S&P 500 to 2750 from 3000, citing bearish retail investor sentiment, slowing non-US economic growth, and slowing earnings growth. At least five banks have recently dimmed their outlook for U.S. stocks.…
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Apple’s warning is probably ‘canary in the coal mine:’ Stephen Roach
[ad_1] Earnings season may deliver a wake-up call to Wall Street. Stephen Roach, one of Wall Street’s leading authorities on Asia, believes multinational corporations are largely underestimating the impact of the U.S.-China trade war on their bottom lines. According to Roach, the first indication came last week when Apple announced that China is taking a…
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This tech comeback can’t last without Apple’s help, history shows
[ad_1] Feng Li | Getty Images News | Getty Images Apple staff members celebrate as customers coming the Wangfujing store on October 20, 2012 in Beijing, China. The tech sector has come roaring back — Amazon has risen more than 9 percent and Netflix has surged 16 percent in the new year. But if history…
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JWN, PPG, UNP and more
[ad_1] Check out the companies making headlines before the bell: Union Pacific — Shares of the freight-hauling railroad rose more than 7.5 percent in premarket trading after it hired a new chief operating officer. The Omaha, Nebraska-based railroad said Monday that it hired longtime Canadian National railroad executive Jim Vena as COO. Vena will take…
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Your first trade for Tuesday, January 8
[ad_1] The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of McDonald’s. Karen Finerman was a buyer of Target. Steve Grasso was a buyer of GE. Guy Adami was a buyer of Nordstrom. Trader disclosure: On January 7, 2019 the following stocks and commodities mentioned or intended…
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Jamie Dimon says the stock market overreacted, no recession ahead
[ad_1] Janvhi Bhojwani | CNBC Jamie Dimon, CEO of JP Morgan Chase, speaking at the Business Roundtable CEO Innovation Summit in Washington, D.C. on Dec. 6th, 2018. Markets from equities to high-yield bonds that have been flashing warning signs are probably an overreaction to slowing growth rather than a precursor of imminent recession, according to J.P.…
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The simple ‘Dogs of the Dow’ strategy topped the market for a fourth straight year
[ad_1] The Dow Jones High Yield Select 10 Total Return Index, which is a proxy for the Dogs of the Dow, has an average annual total return of 9.54 percent going back to 2001, versus 7.29 percent for the S&P 500, according to Bank of America Merrill Lynch. The dogs kept investors relatively safe last…
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Netflix, Amazon are among the biggest winners in the monster comeback from the Christmas Eve low
[ad_1] Stocks have bounced off the Christmas Eve lows and many of the worst performers are the stars of the two-week period since then, including General Electric, Netflix and many energy names. [ad_2] Source link
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Fintech start-up Plaid to buy competitor Quovo for $200 million in its first major deal
[ad_1] Fintech firm Plaid is making its first major acquisition. The company announced on Tuesday it would buy a similar start-up called Quovo for just south of $200 million, according to a source familiar with the deal, who asked not to be named because negotiations were private. Plaid’s technology links bank account to fintech apps…
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Pound v US Dollar exchange rate: Optimistic global risk sentiment weighs on USD | City & Business | Finance
[ad_1] Compared to October by 2.2 percent, while year-on-year the figure rose by 1.3 percent compared to November 2017. Yesterday saw the pound US dollar exchange rate gain steadily despite the poor UK new car sales figures, which revealed an ongoing contraction from -3 percent to -5.5 percent in December. Sterling was able to take…
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Don’t be fooled – Bitcoin rally is a false dawn | City & Business | Finance
[ad_1] Two days ago, after struggling to shake off its Hogmanay hangover, bitcoin suddenly catapulted above $4,000. It was a spike that came from nowhere, and was loudly cheered by many investors. You would have to go back to November for the last time we saw that fairly crucial $4,050 key level of resistance properly…
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Apple and Tesla shares on the blockchain could be the next big thing in crypto
[ad_1] Security tokens — digital versions of financial securities like stocks and bonds — are becoming a new buzzword in crypto. [ad_2] Source link
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Nellie Liang withdraws her nomination to Federal Reserve board
[ad_1] Andrew Harrer | Bloomberg | Getty Images Former Federal Reserve economist Nellie Liang said on Jan. 8, 2019 she had withdrawn her nomination for a seat on the Fed’s Board of Governors. Former Federal Reserve economist Nellie Liang said on Monday she had withdrawn her nomination for a seat on the Fed’s Board of…
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Bridgewater’s Pure Alpha fund posts nearly 15 percent gain in 2018
[ad_1] J. Countess | Getty Images Ray Dalio, founder of investment firm Bridgewater Associates Bridgewater, the world’s largest hedge fund, posted returns for 2018 that not only outperformed benchmark indexes for various asset classes, but also many of its peers. The firm’s flagship Pure Alpha fund finished the year returning 14.6 percent net of fees,…
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California utility PG&E explores bankruptcy filing: Sources
[ad_1] A bankruptcy filing is not PG&E’s preference for addressing liabilities from the catastrophic blazes, some of the sources said. But the preparations could put pressure on California politicians hoping the company can avoid such an outcome. Shares of PG&E, which has a market capitalization of $12.7 billion, dropped 30 percent in after hours trading…
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Trump says China talks ‘are going very well’
[ad_1] President Donald Trump sounded optimistic about trade talks on Sunday, in part because he believes China is motivated by its slowing economy to make a deal. “I think China wants to get it resolved. Their economy’s not doing well,” Trump told reporters at the White House on Sunday, according to Reuters. “I think that…
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LLY, AAPL, TSLA, AMZN & more
[ad_1] Check out the companies making headlines before the bell: Eli Lilly — The pharmaceutical giant announced it will buy Loxo Oncology — a company that specializes in cancer drugs — for $8 billion in cash, or $235 per share. The offer represents a premium of about 68 percent to Loxo’s closing price on Friday.…
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GM shares rise after BMO upgrade on self-driving technology
[ad_1] Investors should buy General Motors because its automated car division and restructuring moves will lift the automaker's stock, BMO Capital Markets says. [ad_2] Source link
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Union Pacific, NuVasive and more
[ad_1] Ken James | Bloomberg | Getty Images A worker in a Union Pacific locomotive maintenance facility, in Roseville, California. Check out the companies making headlines after the bell: Union Pacific shares rose more than 6.5 percent after hours as it hired a new chief operating officer. Jim Vena, who previously worked for Canadian National…
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Investors who give up on bull market will get hurt, PNC says
[ad_1] PNC Financial sees a sustainable relief rally taking shape. According to co-chief investment strategist Amanda Agati, market players who give up on the bull market will get hurt. “It can be very painful to miss out or get too bearish as we get into sort of the end of the cycle,” she said Friday…
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Apple hasn’t been this unloved by Wall Street since 2005
[ad_1] Apple has become more unloved by Wall Street analysts than at any time in the past 14 years. Wall Street analysts have the lowest percentage of buy ratings on Apple stock since 2005 — at 49 percent, according to FactSet. Another 51 percent are holds. As Apple shares plummeted in the fourth quarter, losing…
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Investors flee stock and bond funds in record numbers amid equity panic in December
[ad_1] Major stock indexes had their worst December since the Great Depression, ending a tumultuous 2018 that saw their worst yearly performances since the financial crisis. The S&P 500 and Dow Jones Industrial Average were down 6.2 percent and 5.6 percent, respectively, for 2018. Much of the blame for the sell-off has been cast on…
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Wall Street powerhouses look to shake up stock exchange monopoly with their own version
[ad_1] The new exchange is an answer to the current industry, where more than 90 percent of U.S. stock exchanges are either owned by Nasdaq, NYSE’s parent company Intercontinental Exchange, or Cboe Global Markets. A lower cost alternative could be enticing to brokers who are attempting to cut costs. In the case of UBS, demand…
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The Fed caved in to market and Trump demands because it lacks support for its policies
[ad_1] President Donald Trump is in much better position in his fight with the Fed than President Truman was. Inflation is running at 2.1 percent. The economy is expanding but not at historically high rates. In fact, growth is relatively slow by historical standards. Plus, virtually all of the current members of the Federal Reserve…
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EU news: European stocks PLUMMET as investors become ‘cautious’ | City & Business | Finance
[ad_1] Investors are becoming wary of European stocks which are “struggling for direction”, reports CNBC. Italy has been labelled as the only region in “positive territory”, with its FTSE MIB up by 0.2 percent. CNBC’s Julianna Tatelbaum explained: “Europe stocks are struggling for direction. So that uplift that we saw in the Asia session is…
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Trump is winning the game of economic chicken right now with China, but that could soon change
[ad_1] The trade war may be hurting China more than the U.S., but by spring, China could be looking up as the U.S. slows, particularly if the friction continues, economists said. According to Bank of America Merrill Lynch economists, the China slowdown could start to reverse in the next couple of months, due to large…
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Alan Greenspan thinks the Ocasio-Cortez 70% tax plan is ‘a terrible idea’
[ad_1] Raising the marginal tax rate on the richest Americans to 70 percent would put a major dent in the economy, former Federal Reserve Chairman Alan Greenspan said Monday. During an interview with the CBS program “60 Minutes” that aired Sunday, freshman Rep. Alexandria Ocasio-Cortez proposed that such a levy be imposed to pay for…
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Bitcoin price: Expert reveals why he thinks cryptocurrency will RALLY | City & Business | Finance
[ad_1] Bitcoin expert and UK Managing Director at Etoro, Iqbal Gandham, said the cryptocurrency is likely to see a surge due to a better understanding of the underlying technology involved in the digital asset. Bitcoin price stood at $4,012.08 at 17:30 (GMT) on Monday, according to coinbase. It saw its highest value before Christmas 2017 when…
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World Bank’s Kim to resign effective Feb. 1
[ad_1] World Bank Group President Jim Yong Kim will resign effective Feb. 1, more than three years ahead of the expiration of his term in 2022, the multilateral lender said on Monday. Kim, 59, announced that he will immediately join a firm and focus on increasing infrastructure in developing countries, but the bank did not…
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Cowen downgrades Altria, seeing ‘tumultuous times in tobacco’
[ad_1] Cowen downgraded tobacco giant Altria to market perform from outperform on Monday, seeing accelerating declines in an already deteriorating US cigarette market. Altria’s cigarette volumes will decline at a 7.3 percent annual rate over the next five years, compared to the average decline of 3.1 percent over the last five years, according to Cowen.…
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UK financial services sector moves $1 trillion in assets to EU
[ad_1] Financial services companies have moved assets worth $1 trillion from the U.K. to the rest of Europe since the Brexit referendum, a new study from audit firm EY estimates. In a report published Monday, the consultancy said its “Brexit Tracker” estimated financial services firms had moved almost £800 billion ($1.02 trillion) out of Britain…
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Three options strategies for the week: January 7, 2019
[ad_1] The “Options Action” traders share three options trading strategies to kick off the week. Carter Worth recommends buying Gold Shares calls and Verizon. Mike Khouw recommends an April call spread in Verizon. Dan Nathan recommends a July call spread in Intel. Trader disclosure: Dan Nathan is long FB Jan / Feb call calendar. KO…
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Bitcoin price news: Why is BTC rising? Bitcoin hits $4k again – will BTC recover? | City & Business | Finance
[ad_1] The flagship cryptocurrency endured a calamitous 2018, which witnessed more than £7,500 wiped from its value in just 12 months. This crypto crash, known as the bitcoin bubble, lead some analysts to question whether the digital asset even had a future at all. But the bitcoin price, which had been languishing under £3,000 ($3,750)…
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Brexit news: Expert claims despite uncertainty UK companies APPEALING | City & Business | Finance
[ad_1] The Morningstar CIO said during an interview on CNBC: “I think it is a great opportunity. “As everyone is distracted by the politics around Brexit and as people are trying to think through all the possible outcomes really we are looking at the underlying companies. And actually, they look pretty good value to us.…
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ICE, Nasdaq shares tank as Wall Street giants plan rival exchange MEMX
[ad_1] Shares of Intercontinental Exchange — the company that owns the New York Stock Exchange — sank more than 4 percent Monday morning after a report that a number of Wall Street’s largest financial companies is set to launch a new, low-cost rival exchange. The new venue is called Members Exchange (or MEMX), the Wall…
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Quant hedge funds like Renaissance scored big returns in 2018 while most of the industry struggled
[ad_1] Some hedge fund investors will be pleasantly surprised by the numbers in what was otherwise a challenging year in a variety of markets. [ad_2] Source link
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US dollar exchange rate drops for third day as experts fear economy losing momentum | City & Business | Finance
[ad_1] On Friday, Mr Powell told the American Economic Association that the Fed is not on a preset path of interest rate hikes and that it will be sensitive to the downside risks markets are pricing in. Against a basket of its rivals, the dollar declined a quarter of a percent to 95.92, nearing a…
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CAR REPAIR accelerates after long wait for special parts | The Crusader | Finance
[ad_1] Gordon Wilson thought the prang his wife had in their new motor was pretty minor, but that did not turn out to be the view of the garage charged with getting the replacement parts and making good the damage. Details of what was required for the fix became a source of frustration and, after two…
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Pound v Euro exchange: GBP/EUR rallies on back of better-than-expected Eurozone figures | City & Business | Finance
[ad_1] Despite this, German factory orders showed a higher-than-expected fall from 0.3 percent to -1.0 percent in November compared to the previous month. The Eurozone as a whole saw better-than-expected retail sales figures, with November remaining on par with the previous month. In the UK, December’s new car sales figures did little to help the…
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GBP/USD exchange rate stabilises as Fed says it will be ‘patient’ | City & Business | Finance
[ad_1] This upswing in the GBP/USD exchange rate came in the wake of a speech by Jerome Powell in which the Federal Reserve Chairman appeared to strike a more dovish tone than he did in last month’s policy meeting. Following the Fed’s decision to raise interest rates in December, the US central bank hinted that…
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Bitcoin ethereum CLASH: War of words ERUPTS between crypto big hitters | City & Business | Finance
[ad_1] Ethereum mastermind Vitalik Buterin fired the first salvo as he turned his guns on Bitcoin Cash breakaway ‘Bitcoin SV’, branding the project as “a dumpster fire”. The Russian-born programmer, who now lives in Canada, hit out at the people behind Bitcoin SV (Satoshi Vision) after being asked about bitcoin’s involvement in the Lightning Network.…
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Beijing says both sides expressed will to make deal
[ad_1] As officials from Beijing and Washington met to attempt to hash out their countries’ ongoing trade dispute, China’s foreign ministry said Monday that both sides had expressed a will to work together in order to implement the consensus of their respective presidents. Lu Kang, spokesman at the foreign ministry, told reporters that China is…
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‘This is a buying opportunity:’ Blackstone predicts 15% market surge
[ad_1] Blackstone is telling investors not to give up on 2019, and perhaps they’re starting to listen. Its investment strategist, Joseph Zidle, is optimistic stocks will rebound this year, blaming the market’s wild swings on misguided, negative sentiment. “This is a buying opportunity. We see the market, the S&P 500, up 15 percent in 2019,”…
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LUV, TSLA, NFLX, INTC & more
[ad_1] Square — The payments company announced it has hired Amrita Ahuja as its new CFO. Ahuja will start on her new job later this month. Ahuja currently works as the CFO at Blizzard Entertainment, an Activision Blizzard division. United Technologies — RBC downgraded the Dow member to “sector perform” from “outperform,” citing limited upside…
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Goldman Sachs boosts rates on Marcus accounts as banks fight for deposits
[ad_1] Still, the national average interest rate is a fraction of what Goldman and other online banks are paying. That’s because big lenders like J.P. Morgan Chase and Bank of America have kept retail customers’ rates low, instead relying on sign-on bonuses to lure fresh deposits. Goldman’s new rate is among the highest for accounts…
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Fed’s Mester says if inflation doesn’t rise, Fed could stop hikes
[ad_1] Cleveland Federal Reserve President Loretta Mester told CNBC on Friday the central bank could stop hiking interest rates this year if inflation doesn’t rise. The U.S. economy is “in a really good spot,” said Mester, who was a voting member of the policymaking Federal Open Market Committee in 2018 but is not this year.…
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Buying a car can sink you into debt. Here’s how to avoid that
[ad_1] Planning to buy a car? You could be driving for a long time before you’re out of debt. As interest rates rise and vehicles become more expensive, that new car smell increasingly comes with larger loans and lengthier terms. In December 2018, the average loan for a new car was just above $32,000, compared…
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Your first trade for Friday, January 4
[ad_1] The “Fast Money” traders shared their first moves for the market open. Pete Najarian was a buyer of Biogen. Tim Seymour was a buyer of Activision Blizzard. Dan Nathan was a buyer of Expedia. Guy Adami was a buyer of Newmont Mining Corporation. Trader disclosure: On January 3, 2019 the following stocks and commodities…
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December jobs report shows surprising strength, but doesn’t end slowdown worries
[ad_1] December’sstronger-than-expected jobs report shows the labor market remains solid, but does not alleviate fears that the economy is slowing down as the new year begins. The economy added 312,000 jobs in December, far more than the 177,000 that were expected and the largest increase in payrolls since February. The unemployment rate rose to 3.9…
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Stock market comeback is now in the hands of China-US trade talks
[ad_1] Trade talks between the U.S.and China will dominate the market’s focus in the week ahead, while investors are also watching to see whether other companies join the ranks of Apple and warn about an earnings miss. Fed Chairman Jerome Powell, who sent stocks sharply higher Friday, speaks again Thursday at an Economics Club of…
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Watch the Powell, Bernanke and Yellen roundtable live
[ad_1] [The stream is slated to start at 10:15 am ET. Please refresh the page if you do not see a player above at that time.] Subscribe to CNBC on YouTube. Three U.S. central bank leaders — current Federal Reserve Chairman Jerome Powell and his immediate past predecessors Janet Yellen and Ben Bernanke — were…
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Bank of America market gauge flashes first buy signal since Brexit
[ad_1] The stock market has tumbled since October when trade battles intensified and recession fears crept in. It ended 2018 with the S&P 500 losing 6 percent, wiping out all the gains earlier in the year. In January 2018, the same indicator sent a strong sell signal when investors poured record cash into equities funds,…
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Government shutdown can make rent, mortgage payments hard to meet
[ad_1] Some landlords are showing leniency to tenants hurt by the shutdown. Denise rents a house to a single mother in the town over from where she lives in East Fallowfield, Pennsylvania. She asked to use her first name only to protect the identity of her one tenant, who is a contractor for the Department…
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HMRC self assessment tax return deadline 2019: When is self employed tax returns CUT OFF? | Personal Finance | Finance
[ad_1] HM Revenue & Customs (HMRC) has warned more than 5.5 million taxpayers still need to submit their paperwork for the tax year 2017 to 2018. And those self-employed workers who need to submit their returns themselves, there is just a few weeks left before the deadline. If you miss the deadline, you could be…
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Powell says Fed ‘will be patient’ with monetary policy as it watches how economy performs
[ad_1] Powell said the Fed has a history of adjusting its actions according to conditions. The Fed is “always prepared to shift the stance of policy and to shift it significantly” in order to achieve its dual mandate of full employment and stable prices. He cited 2016 as a recent example. In that year, the…
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£1,600: The price we pay for not switching to cheaper deals | Personal Finance | Finance
[ad_1] Overall, Britons’ financial “paralysis” will cost them £18.7billion, economist David Hillier has calculated. Failing to change cards or consolidate credit card debts costs customers £10.5billion a year alone. And not moving to a cheaper personal loan incurs a £5.7billion penalty per year while mortgage payers not on a fixed-rate deal are losing £2.5billion annually, he…
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Powell says Fed ‘wouldn’t hesitate’ to tweak balance sheet reduction
[ad_1] Elijah Nouvelage | Bloomberg | Getty Images Jerome Powell, chairman of the U.S. Federal Reserve, speaks during the American Economic Association and Allied Social Science Association Annual Meeting in Atlanta, Georgia, U.S., on Friday, Jan. 4, 2019. Federal Reserve Chairman Jerome Powell said Friday that the central bank “wouldn’t hesitate” to adjust how quickly…
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Fed chief Powell just walked back his autopilot remark and the financial markets love it
[ad_1] “We wouldn’t hesitate to change it and that would include the balance sheet. We’re hearing a lot from different groups of people about the role the balance sheet normalization may be playing in the market,” he said. Powell explained that the Treasury issues more securities when the Fed’s balance sheet holdings mature. “We don’t…
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Fed chief Jerome Powell says he would not resign if Trump asks
[ad_1] Federal Reserve Chairman Jerome Powell said Friday he would not resign from his post if President Donald Trump asked him to. “No,” Powell responded when asked by the moderator at the American Economic Association’s annual meeting: “If the president asked you to resign, would you do it?” Powell also said he had not received…
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EU on brink of FINANCIAL TURMOIL? Bloc TURNS in dire economic figures | City & Business | Finance
[ad_1] Executive Board member Benoit Coeure spoke out about the future of the eurozone economy as a new survey revealed activity among businesses fell to its weakest in more than four years in December. Business activity across the bloc fell from 52.7 in November to 51.1 in December, inching it closer toward the 50 mark.…
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Gold price: Spot gold SOARS to six-and-a-half month high after volatile week for markets | City & Business | Finance
[ad_1] Spot gold reached as high as $1,298.42 an ounce on Friday as investors rush to invest in a “safe-haven” asset before prices eased off the multi-month peak. Gold fell slightly to $1,291.68, a drop of 0.2 percent, at 13:00 GMT but is still on track for a third straight weekly rise. The precious metal…
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Dow Jones stocks to RISE: Netflix and Intel lead rebound after Apple decimates markets | City & Business | Finance
[ad_1] Netflix and Intel were set to improve the tech stock market today, after a revenue warning by Apple triggered a slump in the stock yesterday and marked the tech giant’s worst day in six years. Dow Jones Industrial Average futures indicated a gain of about 280 points at the opening of the market on…
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Dow Jones SOARS by 350 POINTS: Tech stocks lead charge as US employment report surprises | City & Business | Finance
[ad_1] The Dow rallied by 354.14 points, or 1.56 percent, to reach 23,040.36 shortly after the US stock market open. Netflix was the biggest winner of the trading day at the time of writing after being boosted by Goldman Sachs adding the streaming service to its conviction buy list. Netflix gained 3.5 percent in value,…
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Cash machine WARNING for expats and tourists over new SCAM in Spain | Personal Finance | Finance
[ad_1] Policía Nacional has issued a warning over a rise in the use of a card cloning device to steal personal banking details from unsuspecting victims. The device, known as a skimmer, is placed over the existing card reader on a cash machine. It is then able to copy the card details by scanning the…
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Pound US dollar exchange rate: GBP extends gains as services PMI improves | City & Business | Finance
[ad_1] This is a notable improvement from this week’s low of $1.2481. The pound was able to extend yesterday’s gains against the dollar this morning as the UK’s Markit services PMI showed a better-than-expected rise from 50.4 to 51.2. However, despite the positive headline figure, Duncan Brock, group director at the Chartered Institute of Procurement…
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Pound euro exchange rate: GBP steady following UK services PMI | City & Business | Finance
[ad_1] The pound crept 0.3 percent higher against the euro this morning following the release of the UK’s latest services PMI. According to data published by IHS Markit, activity in the UK’s all-important service sector showed a modest improvement in December. The index ticked up from 50.4 to 51.2 and coming in slightly above expectations…
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Pound slump OVER? Japanese bank renews call to BUY Sterling after recovery against euro | City & Business | Finance
[ad_1] Last month saw Sterling nosedive after Prime Minister Theresa May pulled a parliamentary vote on her Brexit deal with the European Union. Then on Wednesday, a flash crash ripped through the currency market when a rare revenue warning from Apple shook investors and left traders on edge as anxieties of an economic slowdown intensified.…
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Bitcoin analysis: Is the world LOSING interest in BTC? | City & Business | Finance
[ad_1] After falling below $4,000 before Christmas, bitcoin never looked like seriously breaking back through the $3,900 line, threatening a brief recovery only once in that time. This morning, the decade-old original cryptocurrency – brainchild of the mysterious Satoshi Nakamoto in 2009 – stood at $3,800. It has been lingering there or thereabouts for nigh…
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Pound LIVE: GBP in recovery mode after FLASH CRASH swept through currency market | City & Business | Finance
[ad_1] The currency market was weakened over the last day after Apple sent shockwaves worldwide by leaving investors on edge with a rare warning over revenue. Yesterday saw the pound down against the euro and US dollar, but the British currency was attempting to recover ground somewhat today as it floated near opening levels against…
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Stocks seen higher; US and China to hold trade talks
[ad_1] The pan-European Stoxx 600 index rallied almost 1 percent, with all sectors and major bourses in positive territory. Markets in the continent got a slight lift after China’s commerce ministry said the U.S. and Chinese would hold vice-ministerial level negotiations over trade in Beijing on Jan. 7-8. The two countries are trying to reach…
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Slowdown fears rise as markets await Powell, jobs report
[ad_1] Investors are hoping a strong December jobs report and dovish words from the Federal Reserve chairman will ease rising concerns about an economic slowdown. The December employment report, released at 8:30 a.m. ET Friday, is expected to show 177,000 non-farm payrolls were added, after 155,000 in November, and an unchanged unemployment rate of 3.7…
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Square, Activision Blizzard and more
[ad_1] Check out the companies making headlines after the bell: Square shares rose more than 1 percent after hours as the company named Amrita Ahuja as it new chief financial officer, succeeding Sarah Friar. Ahuja is currently CFO of Blizzard Entertainment, a division of Activision Blizzard. Ahuja is the latest executive to depart the video…
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AAPL, CELG, JNJ, UBS & more
[ad_1] Check out the companies making headlines before the bell: Apple – Apple issued a rare sales warning after Wednesday’s closing bell, with CEO Tim Cook pointing to slowing iPhone sales in China. Cook reportedly is set to address Apple employees today about the warning and take questions from workers. Celgene – The drugmaker agreed…
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Apple’s woes show US and China are both taking hits in trade war
[ad_1] Stocks were already weak Thursday after Apple’s warning but dropped even more when the ISM data signaled that investors’ fears about a slowdown may be realized. “Up until now most of the bad news was out of China. Now the story is we’re vulnerable and we’re going to get hurt too,” said Art Cashin,…
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Another hedge fund all star struggled last year with Dan Loeb down 11%
[ad_1] Jacob Kepler | Bloomberg | Getty Images Daniel Loeb, founder and chief executive officer of Third Point LLC Activist hedge fund manager Dan Loeb is another all star that struggled big time in 2018. His firm Third Point lost about 6 percent in December alone, bringing its yearly loss to about 11 percent, according…
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Banks are cutting back on credit-card rewards programs, WSJ reports
[ad_1] Large financial institutions including JP Morgan Chase & Co, Citigroup Inc , and American Express Co are cutting back or altering some of the rewards plans that their credit card businesses offer borrowers, the Wall Street Journal reported on Tuesday. The financial institutions don’t plan to end rewards entirely, but want to alter them…
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Banks' deposit wars continue as Goldman boosts rate on savings accounts
[ad_1] Banks' deposit wars continue as Goldman boosts rate on savings accounts [ad_2] Source link
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A recession is virtually unavoidable this year, David Rosenberg warns
[ad_1] One of Wall Street’s biggest bears is warning the economy is on a collision course with a recession. Gluskin Sheff’s David Rosenberg has little doubt growth will turn negative in 2019 as the stock market flounders. “We’re going into a recession,” the firm’s chief economist and strategist said Wednesday on CNBC’s “Trading Nation.” “I…
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Yen surged against global currencies after ‘flash crash’
[ad_1] The Japanese yen hit its highest level since March against the U.S. dollar on Wednesday evening after what some traders are calling a “flash crash.” At around 5:35 p.m. ET on Wednesday, Japan’s currency traded around 104.80, up about 4 percent in a sudden move. Earlier in the day, the yen traded around 109…
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Canaccord upgrades Alphabet, says it’s the most defensive ‘FANG’ stock
[ad_1] Canaccord Genuity upgraded Google-parent Alphabet to buy from hold, calling it the most defensive stock among the “FANG” names. The company’s revenue should grow 15 percent to 20 percent for the next two to three years, which “coupled with abating gross margin pressure and continued share buybacks,” should lead to more than 15 percent…
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Your first trade for Thursday, January 3
[ad_1] The “Fast Money” traders debate whether to buy, sell, or hold shares of Apple following the company’s downward 2019 Q1 guidance revision and the ensuing after-hours stock move. Trader disclosure: On January 2, 2019 the following stocks and commodities mentioned or intended to be mentioned on CNBC’s “Fast Money” were owned by the “Fast…
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Robert kaplan says central bank should pause rate hikes amid turmoil in markets
[ad_1] Along with the rate hike, Fed officials collectively indicated that two more rate increases are likely this year. Markets, however, do not think that will happen and are pricing in less than a 10 percent chance of a hike before 2019 ends. “My own view is we shouldn’t take any further action on interest…
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Bitcoin UNDER THREAT: Ethereum comes out all guns blazing for 2019 | City & Business | Finance
[ad_1] Often seen as the main rival to the decade-old bitcoin, Ethereum has never quite matched the market leader in terms of volume or market cap, but a blistering start to the new year has got investors excited about the altcoin. There is also strong support for XRP – another leading contender in the battle…
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Future of trading? New cryptocurrency platform will TOKENISE the stock market | City & Business | Finance
[ad_1] DX.Exchange is set to tokenise the stock market by offering digital stocks based on actual shares, blurring the lines between crypto and global markets. As part of an agreement with MPS MarketPlace Securities Ltd, the new digital startup will allow customers to indirectly purchase shares of some of the largest companies listed on the…
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Apple stock: Why are Apple shares suddenly plunging – What did Tim Cook say about China? | City & Business | Finance
[ad_1] Apple chief executive Tim Cook yesterday published a letter to investors, outlining sales expected. Mr Cook blamed China’s economic slowdown for impacting Apple sales. The iPhone maker has disappointed investors with the predicted revenue. Why are Apple’s shares suddenly plunging? In a letter to investors, Apple said it anticipated revenue of about $84bn (£67bn)…
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State pension: Changes to the state pension in 2019 – increases explained | Personal Finance | Finance
[ad_1] In November 2018, the government announced the basic state pension and single-tier pension rates to take effect from April 6. Both the basic and single tier state pension are protected by something called the ‘triple-lock’ guarantee. This means the state pension will rise every year either by 2.5 percent, or with inflation, or average…
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Dow Jones Industrial Average PLUNGES by 300 POINTS after Apple sales warning | City & Business | Finance
[ad_1] The Dow fell by 298.72 points shortly after 14:30 GMT, or 1.28 percent as Wall Street opened for the first time since the gloomy forecast from the California technology giant. Apple shares led the declines, falling an initial 8.8 percent after the open, while the technology sector as a whole fell 2.6 percent. The Nasdaq Composite…
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Apple stock: Will Apple stock flash crash today? Why is Apple stock falling? | City & Business | Finance
[ad_1] The shortfall of Apple’s stock came as CEO Tim Cook sent a letter to shareholders warning revenue for the holiday quarter was going to be below expectations. The company had expected $89 billion to $93 billion in the fiscal first-quarter revenue but only made it to $84 billion. Could the Apple stock flash crash…
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Pound US dollar exchange rate: GBP stabilises after Apple sales forecast rattle markets | City & Business | Finance
[ad_1] The pound is holding its ground against the US dollar this morning after the pairing was met by volatility overnight amid a spasm in currency markets overnight following a weaker-than-expected sales forecast from Apple. Citing falling sales of iPhones Mac computers and iPads, Apple chief executive Tim Cook told shareholders: “While we anticipated some…
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Gold price SOARS to SIX-MONTH high on weaker US dollar | City & Business | Finance
[ad_1] The price of gold was pushed higher as investors turned to safe-haven buying after being spooked by fears of a global economic slowdown. Anxieties over the state of worldwide finances were exacerbated today after Apple issued a rare revenue warning, blaming slowing sales in China where the economy has been dented by an ongoing…
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Coin SCAM alert: Expats and tourists WARNED over WRONG currency in their change | Personal Finance | Finance
[ad_1] Policía Nacional has issued a warning after a rise in reported cases of members of the public receiving the wrong currency in their change. Instead of being handed back euros, unsuspecting holidaymakers and expats are being short-changed with coins of much lower value compared to the euro. Spanish cops say the currencies being used…
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Pound euro exchange rate: GBP suffers against EUR on weak British PMI | City & Business | Finance
[ad_1] The pound has been feeling the pressure amid Brexit speculation and mixed UK data. The UK’s December construction PMI was released this morning, and revealed a steeper-than-expected drop to 52.8 from 53.4. Although the UK construction sector accounts for less than 10 percent of total UK economic growth, this has done little to help…
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Apple sales WARNING: Global stock markets RATTLED as iPhone maker reignites slowdown fears | City & Business | Finance
[ad_1] The technology giant exacerbated fears of a worldwide economic slowdown after blaming China weaker iPhone sales in China. Issuing its first revenue warning in almost 12 years, Apple forecast $84 billion in revenue for its fiscal first quarter. The Cupertino, California-based company originally forecast revenue of between $89 billion and $93 billion. The rare…
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Apple forecast: Apple SLASHES revenue by BILLIONS as it blames growing threat from China | City & Business | Finance
[ad_1] The news, which comes as a spotlight grows on Beijing’s attempts to revive stalling growth, sent Apple shares tumbling in after-hours trade, hammered Asian suppliers and triggered a broader selloff in global markets. The revenue drop for the just-ended quarter underscores how an economic slowdown in China has been sharper than many expected, catching…
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Pound LIVE: GBP nosedives to near TWO-YEAR LOW against US dollar on Apple revenue WARNING | City & Business | Finance
[ad_1] Apple issued its first revenue warning in almost 12 years last night as the technology giant slashed its sales outlook for its latest quarter, blaming weaker iPhone sales in China. The statement from Apple sent a “flash crash” through global currencies after shares in the iPhone manufacturer dropped by as much as 8 percent…
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Apple’s drop costs Warren Buffett about $2.8 billion, adding to struggles for Berkshire portfolio
[ad_1] After the Apple news, the stock fell by about 7 percent or around $10 per share. As of 5:20 p.m. ET shares of the tech giant were trading near $147. The drop brings Berkshire’s holdings to about $37.1 billion, and a possible $2.77 billion loss overnight. In the first quarter of this 2018, Buffett’s…
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Stocks making the biggest moves premarket: ATVI, GOOGL, TSLA, WFC & more
[ad_1] Names on the move ahead of the open. [ad_2] Source link
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The Fed is losing its ability to control interest rates, former Senate banking chief says
[ad_1] “Extraordinarily, this debate is occurring at the very moment the Fed — shackled by its bloated asset holdings and the resulting excess reserves of the banking system — has less ability to control interest rates than it has had in its entire 105-year history,” Gramm wrote. The issue is the balancing act the Fed…
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Stocks making the biggest moves after hours: Apple, Netflix and more
[ad_1] Greg Baker | AFP | Getty Images Customers look at products in an Apple store in Beijing on December 11, 2018. Check out the companies making headlines after the bell: Apple shares fell 7 percent as the company lowered its first-quarter-revenue forecast on Wednesday. The company said it now expects $84 billion in revenue…
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Your first trade for Wednesday, January 2
[ad_1] The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of FedEx. Brian Kelly was a buyer of Bitcoin. Guy Adami was a buyer of Pfizer. Trader disclosure: Pete Najarian is long calls ACWC, ARNC, BX, C, CAKE, CL, COP, DVN, ECA, EEM, EWZ, FANG, KNX, MDR,…
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Amid the shutdown, federal workers worry about paying for rent, food
[ad_1] Some 800,000 federal workers across the country find themselves in financial uncertainty as the government shutdown crawls into its twelfthday. Some 420,000 employees are considered “essential,” and are working without pay, while another 380,000 have been ordered to stay home, according to calculations provided to CNBC by Paul Light, a professor of public service…
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Investors are officially panicking, Citigroup says
[ad_1] Stock-market investors entered panic mode after the wild ride to end 2018, meaning it might be a good time to buy equities, according to Tobias Levkovich, chief U.S. equity strategist at Citigroup. Citigroup’s Panic/Euphoria model hit panic levels after a massive drop in stock prices last month, Levkovich said. This indicates “high probabilities of…
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Chicago traders in their ’80s heyday had a crazy move called the ‘O’Hare Play’
[ad_1] John Zich | AFP | Getty Images Traders in the OEX pit at the Chicago Board Options Exchange climb the walls of the pit in their scramble to make trades 18 April 2001 in Chicago, Illinois, at the moment news hits that the Federal Reserve has made an unexpected half-point cut in interest rates.…
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Here are the ‘Dogs of the Dow,’ a simple strategy that beats the market
[ad_1] It’s a classic value investing strategy that could be primed to work even better this year if the market remains shaky in the face of a slowing global economy and trade battles. Investors may look to names like these for more steady dividend income. While beating the market in 2018, the dogs would have…
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Pensions: Don’t delay – get your pension plans in place | Personal Finance | Finance
[ad_1] Even if you have already retired you should check your plans are still on the right track and your pensions and investments will continue to provide enough income in the years ahead. The over 55s have been liberated from the obligation to buy an annuity at retirement but experts warn that pension freedoms have increased…
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Stocks usually bounce back after an annual loss
[ad_1] 2018 was terrible for stocks, but years like that are usually followed by a strong bounce the next year, stock market technical analysts are pointing out. The S&P 500 fell 6.2 percent in 2018 to notch its biggest one-year decline since the financial crisis. In 2008, the broad market index plunged 38 percent. Last…
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Wharton’s Jeremy Siegel says stocks will return up to 15%
[ad_1] Despite the market’s stumble into the new year, Wharton’s Jeremy Siegel is predicting solid gains for stocks by the end of 2019. The Wharton School finance professor is predicting an uptick of between 5 and 15 percent and “quite a good year” for equity markets. “We went from a rosy view to now, ‘Oh…
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Europe in CRISIS: European stocks in the RED as factory activity weakens | City & Business | Finance
[ad_1] Eurozone manufacturing activity was revealed to have barely expanded at the end of 2018, providing disappointing reading for European Central Bank policymakers. Manufacturing PMI fell from 51.8 to 51.4 in November, in line with the flash estimate. Earlier PMI surveys showed Italy remained in contraction territory and was joined by France, where data showed…
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Tesla shares plummet 8 percent in a day after failing to meet output forecasts | City & Business | Finance
[ad_1] The company said it delivered 63,150 Model 3s in the quarter, falling short of FactSet estimates of 64,900. Tesla shares are down 8.4 percent at $304.91 in pre-market trade. Overall, total production rose 8 percent to 86,555 vehicles. The company produced 61,394 Model 3s, up from a total of 53,239 Model 3s in the third…
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Germany SLOWDOWN: Economy dented AGAIN as manufacturing growth stalls | City & Business | Finance
[ad_1] Markit’s Purchasing Managers’ Index (PMI) for manufacturing, which accounts for about a fifth of the economy, tumbled to a 33-month low of 51.5 in December, down from 51.8 in November. The number is inching closer to the 50.0 level which marks a contraction. It was the eleventh time in 2018 that the manufacturing index…
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EU celebrates 20 years of euro – but THREE countries might not necessarily be grateful | City & Business | Finance
[ad_1] Euro news: The European Union is marking 20 years since the introduction of the euro (Image: GETTY) The euro was first launched on January 1, 1999 by the European Central Bank and is used daily by an estimated 340 million Europeans. Still popular today, recent surveys suggest three-quarters of people in the eurozone remain…
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Pound US Dollar exchange rate: GBP struggles against USD despite strong manufacturing PMI | City & Business | Finance
[ad_1] The pound to US dollar exchange rate has had a fairly volatile start of the week, despite the lack of data releases due to markets being closed for the New Year. This morning a better-than-expected British Markit manufacturing PMI for December showed a figure of 54.2, growing from 53.6, despite a forecast fall to…
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A painful January will pave way for new market highs: Tony Dwyer
[ad_1] Canaccord Genuity’s Tony Dwyer believes a powerful market rally will rise from 2018’s wreckage. But first, investors may face an agonizing and demoralizing next few weeks. “The market will be down again 20 percent from peak,” the firm’s chief market strategist said Monday on CNBC’s “Trading Nation.” “The history of a nonrecession, post-crash environment…
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Hedge fund all-star David Einhorn posts his worst year ever, losing 34% in 2018
[ad_1] Billionaire hedge fund manager David Einhorn just ended his worst year ever. His hedge fund firm Greenlight Capital’s main fund lost 9 percent in December, bringing its decline for 2018 to 34 percent, the worst performance since Einhorn started the firm in 1996, according to figures obtained by CNBC’s Scott Wapner. This collapse came…
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Brexit news: How the City will ‘PROSPER’ as ‘out of date EU’ set to struggle | City & Business | Finance
[ad_1] With Theresa May’s Brexit withdrawal agreement still hanging in the balance, the future is uncertain for what a post-Brexit UK may look like. Many are wondering what lies ahead for the City of London, home to the UK’s finance and financial services sector. However, Iain Martin’s 2016 book, “Crash Bang Wallop: The inside story of…
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Bitcoin news: One of the largest digital economies is about to legalise cryptocurrency | City & Business | Finance
[ad_1] India’s government – for years seen as anti-crypto – is set to give the green light to embracing the technology under strict regulation. It is believed almost a fifth of the world’s bitcoin transactions take place in India on a daily basis, with hundreds of thousands of users keeping their investments under wraps in…
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CHOOSE A CHALLENGE: Tour company expands as demand soars among caring young thrill-seekers | City & Business | Finance
[ad_1] “Demand for holidays with a purpose is growing. Sun, sea and sand aren’t enough,” says Dan Quille, 36, co-founder and chief executive of the London-based business that caters for caring thrill-seekers aged 18-35. He set it up with university friend and chief financial officer Charles Milton in 2008 after a previous project to build…
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Italy on brink of RECESSION: Fears over Rome economy as manufacturing sector shrinks | City & Business | Finance
[ad_1] Gloomy figures released today show factory activity in Italy was recorded below the line of growth at 49.2 for December. While this is up from the 48.9 forecast by economists, it is still under the 50 needed to record an upward trend. Andrew Harker, associate director at IHS Markit, said: “There appears little sense…
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Italy’s watchdog reportedly suspends trading in Carige shares
[ad_1] Alessia Pierdomenico | Bloomberg | Getty Images A pedestrian passes a Banca Carige SpA bank branch in Rome, Italy. The European Central Bank has appointed temporary administrators for troubled Italian lender Banca Carige with the decision coming after the majority of the bank’s board members resigned on Wednesday. The ECB said in a statement…
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January 2019 Premium bonds: Who won the January premium bonds prize? Winners REVEALED | Personal Finance | Finance
[ad_1] Each month ERNIE – the electronic random number generator – draws out winning bonds with prizes of varying amounts. The top prize is £1million, and two lucky bonds holders have won this month. These two people will be receiving a visit from Agent Million, the person tasked by National Savings and Investments to tell…
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Pound LIVE: GBP edging lower against euro as slowdown forecast for UK manufacturing | City & Business | Finance
[ad_1] Manufacturing PMI data is due out around 09:30 GMT but gloomy forecasts are predicting the figures will show a slowdown in manufacturing activity. This could be bad news for Sterling, with poundsterlinglive.com predicting negative movement for the pound should the data disappoint. As of just after 08:30 GMT, the pound is trading at €1.1109…
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Premium Bonds January 2019 winning numbers: Are YOU one of two new millionaires? | Personal Finance | Finance
[ad_1] The start of a new year sees many of us taking stock and making improvements in our day-to-day lives. For this month’s Premium Bond winners, this will ring even more true. With prizes ranging from £1 million to £5,000, there will be plenty of happy investors in 2019. The winning £1m numbers The first…
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Premium bonds January 2019: Have YOU won the New Year premium bonds jackpot? How to check | Personal Finance | Finance
[ad_1] It looks set to be a very happy new year for two people who are celebrating 2019 being one million pounds happier. NS&I has revealed two winners are the lucky recipients of the £1m premium bond jackpot. The winners are in Inner London and Croydon and a further five people have won £100,000 from…
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Foreign involvement in Taiwan independence intolerable: China’s Xi
[ad_1] Ahead of Xi’s speech, Tsai said Tuesday that China must use peaceful means to resolve its differences with Taiwan and respect its democratic values. “Here, I would like to call on China to face squarely the reality of the existence of the Republic of China on Taiwan,” Tsai said, referring to the island’s formal…
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European stocks set to drop as losses continue into 2019
[ad_1] Britain’s FTSE 100 was seen off by 4 points at 6,689, Germany’s DAX down 83 points at 10,513 and the French CAC 20 points lower at 4,674, according to IG index data. The first trading day of the New Year was beset by data showing Chinese factory activity contracted in December for the first…
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India rupee exchange rate: Will INR sink or swim against US dollar in 2019? | City & Business | Finance
[ad_1] At its lowest point this year, the crippled rupee nosedived by as much as 14 percent against the US dollar. October saw INR crash through the 74-barrier and reached an all-time low of 74.39 versus the American greenback off the back of soaring inflation and rising oil prices. However, the rupee has clawed back…
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This wacky daily trading strategy posted a 13% return in this rough year
[ad_1] Xinhua News Agency | Getty Images Traders work at the New York Stock Exchange in New York, the United States. Buy the S&P 500 at the close every day and sell it at the next open. Sounds wacky? You could have outperformed the market by 20 percent. According to Bespoke Investment Group, if one…
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Crusader 2018: How justice and kindness triumphed | The Crusader | Finance
[ad_1] Refunds and goodwill gestures – beyond any strictly legal compensation but morally right – were a vital part of the mix. But our support of readers with free, expert second opinions has been just as fundamental in getting you justice. And when that hasn’t been possible there has been the honourable desire of those who…
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Halfords fob off thieves with old-school locks | City & Business | Finance
[ad_1] The retailer said motorists are increasingly turning to low-tech security devices to thwart car theft gangs, who are using ever-more sophisticated gadgets and tactics to break into vehicles. Halfords said that sales of £10 anti-theft wallets, which block radio signals and prevent criminals from hacking into drivers’ car key fobs, had doubled over the…
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The winner for best trade of 2018 is… chocolate
[ad_1] Looking back on a tumultuous year where the majority of asset classes were deep in the red, cocoa futures turned out to be one sweet spot. In fact, a look at the top year-to-date performers among major futures markets reveals that cocoa has returned a whopping 28 percent this year. (This was lower only…
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Merck surges more than 30% in 2018, taking the crown as biggest Dow winner
[ad_1] Bess Adler | Bloomberg | Getty Images Ken Frazier, chairman and chief executive officer of Merck & Co., speaks during an Economic Club of New York event in New York, U.S. on Wednesday, Oct. 3, 2018. 2018 may have been the worst year for the Dow Jones Industrial Average in a decade, but Merck…
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Gold price: Spot gold set to record first annual DECLINE since 2015 | City & Business | Finance
[ad_1] At its highest point so far today, spot gold scaled 0.2 percent to $1,284.09 an ounce as a dip in the US dollar helped lift the precious metal to its best level since June 15. But despite the six-month peak, spot prices are still down 1.5 percent in the year to date and are…
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Pound exchange rate: GBP soars to three-week HIGH against US dollar – higher against euro | City & Business | Finance
[ad_1] Sterling was trading with more than half a percent increase versus the American greenback this afternoon, reaching as high at $1.2790. Against the euro, the pound was also up by around the same margin, trading up 0.66 percent to €1.1170. The positive movement for the pound US dollar exchange rate is believe to have…
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AMZN, DB, VZ, GOOGL & more
[ad_1] Check out the companies making headlines before the bell: Amazon.com – Amazon is planning a significant expansion of its Whole Foods grocery stores, according to The Wall Street Journal. The paper said Amazon is scouting new locations in more suburbs, and in areas where Whole Foods is already growing in popularity. Deutsche Bank –…
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Global stock markets heading for year of WORST LOSSES since 2008 financial crash | City & Business | Finance
[ad_1] Fears of a slowdown in the global economy combined with a US-China trade war escalation, Brexit instability and soaring US inflation rates have left traders rattled and trillions of dollars wiped off world stocks. A staggering 11 percent was knocked off the MSCI All Country World Index of stocks this year, meaning its first…
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China stock market is WORST-PERFORMING of 2018 as US trade war takes toll | City & Business | Finance
[ad_1] Chinese stocks have been rattled this year by ongoing trade war tensions with the United States and anxieties surrounding an economic slowdown, with the Shanghai Composite Index ending the trading year down almost 25 percent. The Shanghai Composite Index was 24.6 lower compared to this time last year and its final close of 2017,…
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Co-op to open 100 BRAND NEW stores in BOOST for struggling UK high street | City & Business | Finance
[ad_1] The convenience store chain will also refurbish 200 older shops as part of a £200million investment plan. It is believed the financial venture will create some 1,500 new jobs in a much-needed boost for the UK high street. London as well as the South East, Wales and Scotland will be the key areas of…
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Bitcoin price prediction 2019: Will crypto SURGE to new highs or PLUMMET to new lows? | City & Business | Finance
[ad_1] But can the virtual currency bounce back in 2019, or will it plunge to new lows? Several cryptocurrency specialists have given various predictions on what they believe will happen to BTC’s price in 2019 and the broader impact it will have on cryptocurrency markets. Some experts remain bullish in their outlook, with others providing…
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Monster rallies are often synonymous with bear markets, Boockvar warns
[ad_1] Investor Peter Boockvar believes the stock market’s wild swings are evidence of a bear market. Boockvar recently told CNBC that the recent monster rallies do not signal the bulls are back. He noted bull market moves are more methodical. “We are in a bear market, and a bear market is not just going to…
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Goldman Sachs cuts growth forecast for first half of 2019
[ad_1] With the Federal Reserve embarked on a path to gradually hike interest rates, the bank now thinks the central bank will pump its brakes on raising borrowing costs — and could even reverse course in 2020. Central bank officials have approved four rate hikes this year and have indicated two more are coming in…
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Fed could be factor in week ahead as stocks exit worst year in decade
[ad_1] Investors can bid farewell to the worst year for stocks in a decade, but they may not find a way to escape the volatility when the new year starts with a bang. By the first Friday of 2019, it’s back to business in a big way with the December jobs report and an unprecedented…
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Stocks wrap up 2 weeks of ‘disturbing’ moves
[ad_1] Source: FactSet Wall Street’s wild ride began on Dec. 17, with the S&P 500, Dow and Nasdaq all dropping more than 2 percent. Fears of a slowing economy and worries over the course and speed of Federal Reserve monetary policy pressured stocks that day. On Dec. 19, Fed fears came to a head after…
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The real test happens two weeks from now
[ad_1] This week’s wild swings on Wall Street mean little to some market players, who look past the huge bounce in stocks and are ready to zero in on the earnings season that kicks off in the second week of January. The Dow Jones Industrial Average on Wednesday surged a whopping 5 percent, the largest…
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Is the buyback surge over? Don’t bet on it
[ad_1] Brendan McDermid | Reuters A trader works at his post on the floor of the New York Stock Exchange, December 19, 2018. The Wall Street Journal reports Apple has lost nearly $9 billion this year buying back its own stock. Apple is one of those buyback monsters that has spent significant money to buy…
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Stocks are signaling recession scare but that doesn’t mean there will be one
[ad_1] Investors are fearful the stock market is signaling that a recession could be on the way either because of a Fed policy misstep or trade wars, but that doesn’t have to be the case. Not all big market declines have signaled a recession, but once a market decline reaches 20 percent, the odds are…
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Criticize Fed for how it communicates, not monetary policy
[ad_1] The Federal Reserve should be criticized for how it communicates to the market and less so on its monetary policy decisions, closely followed economist Mohamed El-Erian told CNBC on Friday. “I think the Fed should get less criticism as to what it’s doing,” El-Erian, chief economic advisor at Allianz, said on “Squawk Box.” “But…
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These states are raising their minimum wage next year
[ad_1] Al Drago | CQ Roll Call | Getty Images A protester holds a sign in Upper Senate Park during a rally on Capitol Hill in Washington, D.C., on Wednesday, July 22, 2015, to push for a raise to $15 an hour for the minimum wage. More than 20 states will raise their minimum wage…
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China’s stock drop reduces bubble worries, central bank official says
[ad_1] China‘s financial markets are safer after this year’s stock market drop, a spokesman from the People’s Bank of China said Friday. The local market is closed Monday, and the Shanghai composite ended the year Friday at 2,493.9, down nearly 25 percent for 2018 in its worst year since 2008. The index hit a high…
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State pension hotspots REVEALED: More people receive pension HERE than anywhere else | Personal Finance | Finance
[ad_1] It might be one of the least populated areas of England, with a population of just under 34,500, but research shows more people are flocking west of the country to live out their golden years. Analysis from investment provider Aegon shows more than one in three (34 percent) of residents of West Somerset receive…
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FTSE 100 roars back: UK stock index recovers from TWO-AND-A-HALF year low | City & Business | Finance
[ad_1] The UK stock index railed more than two percent as a turbulent 2018 for global markets neared its end with just two more trading days left in the year. As of just before 15:00 GMT, the FTSE 100 was at 6,724.39 points, or up 2.3 percent, after plunging in the previous session. The biggest…
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These tools will help you get your student loans forgiven
[ad_1] Most people pursuing public service loan forgiveness discover at some point that they don’t qualify, for one technical reason or another. That may be because their loan type is ineligible or they’re not in the right repayment plan. The Public Service Loan Forgiveness program was signed into law by President George W. Bush in…
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PG, IBM, SAVE, AMZN & more
[ad_1] Check out the companies making headlines before the bell: Procter & Gamble, IBM – The two companies separately announced that former American Express CEO Kenneth Chenault will retire from the boards of both companies. Both exits are effective February 13. Lockheed Martin – The defense contractor was awarded a $712 million defense contract to…
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END OF THE EURO: Biggest WEAKNESS facing the single currency REVEALED | City & Business | Finance
[ad_1] Otmar Issing, a founding member of the executive board of the European Central Bank, said the “real test is still pending” for the euro after being asked if the common currency is a success today, 20 years after it was introduced. But he added the main weakness of the euro falls down to differences…
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TV Licence SCAM: Warning over FAKE messages being sent to THOUSANDS of Brits | Personal Finance | Finance
[ad_1] Crooks are using sneaky phishing tactics to dupe victims into revealing their personal information and bank details through convincing-looking emails and text messages. Some customers have reported being sent messages threats of a £200 fine after claiming there is a problem with their Direct Debit payments. Other dodgy messages claim the victim is due…
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HMV on brink of COLLAPSE: Music retailer ‘on edge of administration – 2,200 jobs at risk’ | City & Business | Finance
[ad_1] The biggest high street music retailer in the UK is said to have filed a notice of intention to appoint administrators, Sky News reported. HMV Retail is said to have attempted to seek financial support from leading names in the record music industry before sending off the paperwork last week. The DVD and CD…
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Dow, S&P and Nasdaq on roller coaster week
[ad_1] Futures on Thursday evening stateside pointed to opening losses on Friday for the three major indexes in the U.S. Dow Jones Industrial Average futures implied a decline of 40.82 for the index at Friday’s open, as of 7:39 p.m. ET Thursday. S&P 500 and Nasdaq futures also pointed to slight declines for the two…
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The volatility in stocks right now is ‘abnormal,’ says manager of $200 billion pension fund
[ad_1] Christopher Goodney | Bloomberg | Getty Images Christopher Ailman, chief investment officer of the California State Teachers Retirement System Investors should be careful as the recent spike in market volatility is far from normal, according to the manager of the California State Teachers’ Retirement System, which has more than $200 billion in assets. “The…
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After-hours buzz: Aphria, IBM and P&G
[ad_1] Check out the companies making headlines after the bell: Aphria shares soared more than 20 percent during after-hours trading Thursday as Green Growth Brands announced it would launch a takeover bid for the company. Green Growth Brands is a marijuana retailer and Aphria is one of the largest Canadian cannabis companies in the world.…
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Fed changes rates ‘quickly and often spectacularly,’ Rosenberg says
[ad_1] However, the market currently doesn’t think the Fed will hike at all next year. Stocks teetering on bear market territory, slowing global growth and trade tensions between the U.S. and China are some of the obstacles investors think the Fed will confront that will prevent it from further tightening. Rosenberg is among a small…
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The ‘January effect’ could be the market’s big hope for a bounce
[ad_1] Despite Wednesday’s record-breaking rally, the Dow and S&P 500 are still on track for their worst December since the Great Depression. While much of the blame has been cast on the Federal Reserve, President Donald Trump’s tweets and the trade war, one overlooked explanation for the bleeding is tax selling. Although the year-end tax…
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Charts show stock market may still be months away from finding a floor
[ad_1] Investors looking for a quick end to the stock sell off could be disappointed and may have several more months of volatile trading to go before the market hits rock bottom, technical analysts say. That time frame coincides with the run up to major events that strategists say could be fundamental catalysts for the…
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January could tell the tale on whether this is a new bear market
[ad_1] The January Barometer is one of Wall Street’s favorite seasonal gauges. According to the Stock Trader’s Almanac, it has registered only nine major errors since 1950 and been accurate 74.6 percent of the time. If relatively flat years are excluded, the accuracy rate gets even better: 86.6 percent. But in a year when a…
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Unicorns accelerate 2019 IPO plans amid choppy markets, JP Morgan says
[ad_1] The world’s biggest start-ups will probably push ahead with initial public offerings next year despite markets that have been in free-fall lately, according to J.P. Morgan’s global chairman of investment banking Jennifer Nason. In fact, the sharp decline in stocks this month has investment bankers feverishly working to help companies file earlier in 2019…
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Your first trade for Thursday, December 27
[ad_1] The “Fast Money” traders shared their first moves for the market open. Pete Najarian was a buyer of Alibaba. Chris Harvey was a buyer of the Real Estate ETF. Gene Munster was a buyer of Apple. Brian Kelly was a buyer of Gold shares. Trader disclosure: On December 26, 2018 the following stocks and…
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JPM, AAPL, V, CBS & more
[ad_1] Check out the companies making headlines before the bell: JD.com – JD.com is launching an extensive revamp of its operations, according to The Wall Street Journal. The paper said the Chinese internet company is planning to split its primary unit – JD Mall — into three business departments, citing an internal document. JPMorgan Chase…
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‘Investors are coming back to their senses’: Market bull Ed Yardeni
[ad_1] The Dow needs to rally 7.5 percent in the next three trading days to bring it to a break-even year. It may seem like a tall order, but investment strategist Edward Yardeni believes it’s possible. He cites the unprecedented momentum generated by the Dow’s record-setting Wednesday close that could bring 2018 back into the…
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John Delaney says every American should have health care ‘as a right’
[ad_1] Delaney: Yes. That’s how I’d pay for it. New system, everyone gets healthcare from when they’re born to they die. This new program from birth to 65, and Medicare above that. Harwood: So basically one government program for healthcare pre-retirement, and then Medicare. Delaney: Yes, but one key distinction. You know how Medicare has…
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US tariffs will hit China harder next year, analysts say
[ad_1] The impact of Trump’s tariffs on China’s economy has mostly only been psychological so far in the ongoing trade war, analysts say. That’s may be set to change next year, potentially denting Chinese growth. “With the tariffs we haven’t seen the direct impact, but we’ll see that next year,” said Tom Rafferty, principal economist…
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Germany CRISIS WARNING: Wave of bankruptcy to hit EU financial giant next year | City & Business | Finance
[ad_1] Financial experts fear the number of corporate bankruptcies in Germany could soar again due to slower economic growth and rising interest rates. Manfred Stamer, senior economist at Euler Hermes, a credit insurer, said the number of bankruptcies in 2018 has already increased among construction and service providers. For 2019, the industries most at risk…
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Is your 529 savings plan in the red? Tuition may still be due
[ad_1] As for savers with younger children, they should avoid panic and realize they have plenty of time to recover from any current losses, experts say. Market downturns are simply part of the college saving experience, Kantrowitz said. During any 17-year period, he calculates, the stock market typically will suffer at least three corrections (considered…
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Here’s your bear market survival guide
[ad_1] While the overall market is beaten down this year, there are still some outliers that typically hold up well in an economic downturn, especially discounted retail stores. Shares of Dollar General have returned 10 percent this year, drastically outperforming the S&P 500 which has lost 12 percent in 2018. “They did very well during…
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Christmas joy for festive trade fair | City & Business | Finance
[ad_1] For retailers work on Christmas – the biggest selling opportunity in the calendar – can begin in January or earlier and peaks trade-wise mid-summer. The big beasts like supermarkets and store chains often spend several thousands of pounds staging individual events to ensure publicity later on in gift guides, shopping pages and the like, while…
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A bear market usually means even steeper losses are ahead
[ad_1] Investors will have a hard time finding a place to hide should the S&P 500 keep trading in bear market territory, if history is any indication. A CNBC analysis using Kensho found that all 11 S&P 500 sectors average steep losses after the broad index plunges 20 percent or more in a six-month period.…
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INTC, WMT, TGT, M, MAR, EXPE & more
[ad_1] Check out the companies making headlines before the bell: Intel – Intel received a $185 million grant from the Israeli government in return for a $5 billion expansion of its chip making operations in Israel. Walmart, Target, Macy’s – These and other retail stocks are on watch today, following holiday shopping season numbers that…
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10-year US Treasury yield hits lowest level since April 2018
[ad_1] U.S. government debt prices edged higher on Wednesday as jittery investors continued to flock to the safety of bonds. The yield on the benchmark 10-year Treasury note, which moves inversely to its price, dropped to 2.729 percent, its lowest level since April 2018. Financial markets were closed Tuesday for the Christmas holiday. Yields on…
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Financial crash WARNING: The BIGGEST threat facing the economy in 2019 REVEALED | City & Business | Finance
[ad_1] The economy has been plagued by fears from analysts of an impending global financial crash in the not-so distant future, with investors rattled over geopolitical tensions and a trade war between the two most powerful nations. The United States could cause global financial chaos if markets lose confidence in President Donald Trump and trade…
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Stocks may try to bounce but are heading for worst December ever
[ad_1] Stocks could look to bounce later in the week, after the worst Christmas Eve performance ever, but some strategists expect only a half-hearted rally attempt with more losses to come. The S&P 500 lost 2.7 percent Monday, to 2,351 in a half-day session, and is now officially in a bear market — or down…
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We are now in a bear market — here’s what that means
[ad_1] It’s helpful to know what a “bear market” is, because based on history it looks like we could be here for a while. The term on Wall Street is synonymous with serious, long-lasting declines in stock markets. In numeric terms, a bear market is a 20 percent or more drop from a recent peak.…
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When Wall Street looks to Washington, it gets scared
[ad_1] It was Wall Street that scared the markets as storied institutions failed during the financial crisis, and now as stocks fall into bear market territory, it’s Washington that’s getting the blame. Making matters worse, is that when financial markets are in trouble, market pros turn to Washington’s lawmakers and regulators for help, and now…
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Look to the two remaining Fed board nominees for clues about Trump-Powell battle
[ad_1] Getty Images President Donald Trump looks on as his nominee for the chairman of the Federal Reserve Jerome Powell takes to the podium during a press event in the Rose Garden at the White House, November 2, 2017 in Washington, DC. While President Donald Trump has complained publicly about Federal Reserve Chair Jerome Powell,…
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Repair seal of approval | The Crusader | Finance
[ad_1] “I’ve been driving since 1959, had many cars and this has never been a problem before,” a perplexed Mike Harris told Crusader. The issue first arose six months after he purchased his sporty hatchback, a Dacia Sandero Stepway Laureate from dealer Arnold Clark in Blackpool. The car came with a three-year warranty so after finding…
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TSLA, FB, AAPL, CS & more
[ad_1] Check out the companies making headlines before the bell: Campbell Soup – Campbell is moving closer to divesting its international business, according to Reuters. Sources say Kraft Heinz and Mondelez International have been short-listed to participate in the second round of bidding. Tesla – Tesla has cut prices for its Model 3 in China…
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Market panic enters late stages, Jim Paulsen says
[ad_1] December’s ugly stock market could help launch a 2019 rally to remember, according to Jim Paulsen. The Leuthold Group chief investment strategist believes Wall Street panic is in its later stages. “You’re hearing a lot of calls for recession, you’re hearing a lot more people calling this a bear market,” he said Friday on…
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Treasury yields lower amid stock market volatility
[ad_1] Over the weekend, multiple reports said President Donald Trump had discussed privately the possibility of firing Powell. The U.S. leader has repeatedly criticized the institution over its rate hiking path. Treasury Secretary Steven Mnuchin later downplayed those reports, tweeting that Trump said he “never suggested firing” Powell, despite his disagreements with the Fed’s policy…
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Stocks lower after Wall Street rout
[ad_1] The pan-European Stoxx 600 sank 0.4 percent during morning trade, with almost all sectors and major bourses in the red. Looking at individual stocks, Germany’s Delivery Hero was the top performer. The online food delivery firm recently sold its German unit to Dutch rival Takeaway.com for $1.1 billion. Its shares rose 10 percent on…
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Charts declare bear market, say correction could last until next June
[ad_1] Bank of America-Merrill Lynch sees stocks struggling through the first half of 2019. Stephen Suttmeier, the firm’s chief equity technical strategist, is building his case with two S&P 500 charts. They suggest stocks are in the throes of a bear market and the correction is deepening. “We are breaking through a massive support on…
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Trump never said he would fire Fed Chairman Powell
[ad_1] Jim Watson | AFP | Getty Images US Federal Reserve Board Chairman Jerome Powell holds a news conference after a Federal Open Market Committee meeting in Washington, DC, December 19, 2018. President Donald Trump is adamantly opposed to the Federal Reserve’s rate hike campaign, but has never suggested firing Fed Chairman Jerome Powell, Treasury…
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Wall Street hits Trump for ‘madness’ on talk of firing Jerome Powell
[ad_1] Trump could be merely blowing off steam, or his comments could be indicative of something more serious. The Federal Reserve Act specifies that a president can remove governors — which presumably includes the Fed Chair — but only “for cause” and not over policy differences. While it’s far from clear what would constitute just…
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Trump reportedly wants to fire Fed Chair Powell
[ad_1] “I think the Fed is making a mistake. They are so tight. I think the Fed has gone crazy,” the president told reporters in October. The independence of the Fed is one of the pillars of confidence global investors have in the U.S. financial system. Powell’s removal would undermine that confidence because it would…
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Bitcoin price prediction 2019: Will BTC hit $10,000 next year or CRASH completely? | City & Business | Finance
[ad_1] Bitcoin began 2018 valued at £10,603 ($13,422) having started to fall from its record high. The BTC price has since plummeted, dragging the majority of the crypto market down with it. Bitcoin is currently valued at £3,036 ($3,844) at 1pm GMT on Saturday, December 22. Bitcoin cash (BCH) founder Calvin Ayre believes the crypto…
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Stocks making the biggest moves premarket: KMX, NKE, HPE, IBM, CPB & more
[ad_1] Names on the move ahead of the open. [ad_2] Source link
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Stocks enter final full week of the year on the brink of a bear market
[ad_1] Hanging over the market in the week ahead are the government shutdown fight which pitted the president against Democrats in Congress, over his plan for a border wall. There was a glimmer of hope late on Friday that a deal could be hatched with Sen. Bob Corker saying a path forward was being discussed.…
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A Deutsche Bank economist put together a list of things investors should worry about
[ad_1] Torsten Slok, chief international economist at Deutsche Bank, has listed all the risks to look out for with the markets in 2019. And his list goes to 30. Investors already have plenty to worry about — from the Federal Reserve’s monetary policy to an extended government shutdown to the trade war with China —…
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White House advisor Navarro says ‘China is trying to steal our future’
[ad_1] President Trump’s hard-line advisor Peter Navarro added to doubts of a U.S.-China trade agreement happening in the next three months. Navarro, a well-known trade hawk, told Japanese newspaper Nikkei that it would be “difficult” for the two countries to arrive at a long-term agreement unless “Beijing was prepared for a full overhaul of its…
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Canada’s Warren Buffett is a 90-year-old former used-car salesman
[ad_1] Bloomberg | Bloomberg | Getty Images Jim Pattison, chief executive officer and founder of Jim Pattison Group Inc., pumps gas into a pickup truck during a tour of his holdings near Russell, Manitoba, Canada, on Tuesday, Sept. 18, 2018. Jim Pattison may not be a household name but the third richest Canadian maybe should…
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Watch out, market volatility could make you a target for scammers
[ad_1] Jin Lee | Bloomberg | Getty Images Bernard Madoff, founder of Bernard L. Madoff Investment Securities, leaves federal court in New York on Tuesday, March 10, 2009. Since the arrest of former investment advisor Bernie Madoff for fraud 10 years ago, many protections for investors have been put in place. But those putting money…
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Trump has lost his once golden touch with stocks
[ad_1] To be sure, the Dow Jones Industrial Average is still up 23 percent since Trump’s election, but that may not matter if it drops into a bear market on his watch. Through midday Friday, it was just 4 percentage points short of that mark. Peter Boockvar, chief investment strategist at Bleakley Advisory Group, said…
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We listen to the market, but see strong economy
[ad_1] New York Federal Reserve President John Williams told CNBC on Friday that the central bank is listening “very carefully” to the market’s concerns on growth, but believes the U.S. economy is in good shape. Fed Chairman Jerome Powell and other central bank leaders are moving to more data dependency, Williams said, which includes listening…
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Fed’s Williams helps recast views of Fed, says it will be flexible
[ad_1] New York Fed President John Williams took a step Friday toward undoing the blunt blow to markets delivered by the Federal Reserve and Fed Chairman Jerome Powell on Wednesday. Stocks initially jumped, the dollar rose and bonds sold off, after Williams indicated the Fed would be flexible and could consider changing policy if the…
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NY Fed President John Williams says the Fed could re-evaluate view in 2019
[ad_1] Federal Reserve Bank of New York President John Williams told CNBC on Friday the Fed is open to reconsidering its views on rate hikes next year. “We are listening, there are risks to that outlook that maybe the economy will slow further,” Williams told Steve Liesman during an interview on “Squawk on the Street.”…
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A government shutdown typically doesn’t hurt the stock market, history shows
[ad_1] As a government shutdown seems more and more imminent, investors are pondering what it will do to the stock market. If history is any guide, the answer is: nothing. In the previous 20 shutdowns going back to 1976, stock prices have rarely moved significantly lower and in fact, they have posted a flat median…
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India rupee rally ENDS: INR ends four-day winning streak as it CRASHES back against dollar | City & Business | Finance
[ad_1] The rupee ended the trading week lower versus the American greenback, but was still up 2.4 percent on a weekly basis after being boosted by falling oil prices and the Federal Reserve After initially reaching 69 against the US dollar earlier this week, the rupee was trading at 70.1750 as of 14:45 GMT. Vinod…
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Boxing Day sales: Save your cash – the best deals can actually be found on THESE days | Personal Finance | Finance
[ad_1] If the highlight of your festive season is hitting the shops on Boxing Day, you might want to put the credit card away now. While you might hold it as one of the biggest shopping days of the year, new research has from PriceSpy has revealed Brits could actually get more for their money…
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Bitcoin price 2019 predictions: Forecasters reveal five BTC price scenarios | City & Business | Finance
[ad_1] Bitcoin trading is in the green today, with prices at 2pm GMT (UTC) hovering around the £ 3,163.12 ($4,000) price point. At 2.13pm GMT bitcoin exchanged hands for £ 3,177.88 ($4,018.66) on CoinDesk – an upward trend of 0.048 percent. The recent upswing in trading comes after a minor bull run at the start…
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Credit card rewards can seem complicated. Here’s how to get started.
[ad_1] “The best way to maximize credit card rewards is simply to get a credit card that best fits your lifestyle,” Schulz said. The average American spends $6,477 on groceries each year, according to Creditcards.com. If they used a card such as American Express’s Blue Cash Everyday Card, which offers 3 percent cash back at…
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Nothing worked for investors this year
[ad_1] That’s why the market fell to new lows this week when the Fed raised interest rates by a quarter point on Wednesday and turned especially weak specifically when Fed chief Jerome Powell said the unwinding of the central bank’s balance sheet would continue at its current pace. “We continue to expect the Fed will…
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Bitcoin WARNING: Is a New Year HEADACHE coming for BTC? – Analysis | City & Business | Finance
[ad_1] Basically, if the engines do not have the power then ‘up’ very quickly becomes ‘down’. Right now, bitcoin is resembling a supersonic jet packing enough thrust to propel it through the cloud base of $4,500. Despite a slip up over the last few weeks, the world’s leading cryptocurrency has been on a steady trajectory…
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Germany and France delivered BLOW after UK joins EU nations to BLOCK huge new company | City & Business | Finance
[ad_1] Siemens and Alstom agreed last year to merge their rail operations, creating a company with £13.5million (€15billion euros) in revenue and a workforce of 62,000. The pair argued that the main purpose of the project was to establish a European champion to challenge the advance of China’s state-owned CRRC and Canada’s Bombadier Transportation. But…
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Pound euro exchange rate: GBP buoyed as UK GDP prints in line with expectations | City & Business | Finance
[ad_1] The pound is creeping higher against the euro this morning following the release of the UK’s latest GDP reading. According to data published by the Office for National Statistics (ONS), the UK’s final third quarter GDP reading confirmed that the economy expanded by 0.6 per cent, dispelling concerns that growth may have been downgraded.…
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Pound LIVE: GBP Sterling slips from 10-day high against US dollar after Fed rattles market | City & Business | Finance
[ad_1] Sterling climbed to $1.2707 on Thursday after the Federal Reserve rattled markets by raising rates for the fourth time in 2018, defying warning calls from US President Donald Trump at the same time. But the pound pulled back from the high after the Bank of England (BoE) kept interest rates on hold, saying Brexit…
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Bitcoin price RALLY: Expert warns of ‘unfinished business’ for crypto | City & Business | Finance
[ad_1] Bitcoin price hit to $4,026.60 at 08:30 (GMT) on Friday, according to CoinDesk. The cryptocurrency saw its highest value before Christmas when it reached the monumental price of just under $20,000. But finance expert Jeff Kilburg has claimed that without Government backing, the cryptocurrency will struggle to get above its current price. Mr Kilburg…
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Bitcoin price RISES: BTC breaks $4000 – Is Bitcoin rebounding? | City & Business | Finance
[ad_1] Bitcoin soared by 26 percent to $4,057 on Friday from $3,210 last Thursday, according to CoinMarketCap. The cryptocurrency’s recent rally comes after a terrible November when prices plummeted after a few months of stability. BTC, the world’s largest cryptocurrency, has generally been on a downward slide since peaking a year ago on Monday at…
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Dow Jones drops 464 POINTS as US stocks head for WORST December since GREAT DEPRESSION | City & Business | Finance
[ad_1] The financial bloodbath for the Dow means the US stock index has shed more than 1,600 points since Friday amid growing fears of a slowdown of global growth. The Dow remained sensitive yesterday to the Federal Reserve raised rates for the fourth time in 2018. The Fed raised key overnight lending rate rates by 0.25 percent point…
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Chinese stocks are set for a rocky start to 2019
[ad_1] However, a trade deal between the world’s two largest economies is far from certain, especially after Chinese President Xi Jinping took a relatively defiant tone toward international demands in his key address to the nation this week. Investors are also on edge about potential interest rate hikes by the U.S. Federal Reserve next year,…
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David Tepper: Fed is done supporting stock prices, so cash is 'not so bad' as an investment now
[ad_1] Hedge fund titan David Tepper says the Federal Reserve is sending the market a message, and it's not a good one. [ad_2] Source link
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Fed rate hikes widen wealth gap by hurting working Americans
[ad_1] CNBC’s Jim Cramer, a critic for months of the Federal Reserve‘s path higher for interest rates, said Thursday that the central bank led by Jerome Powell is taking money out of the pockets of working Americans. “The rich people won,” Cramer contended on “Squawk on the Street.” “We had seven years when the rich…
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Stocks making the biggest moves after hours: Nike, CalAmp and more
[ad_1] Check out the companies making headlines after the bell: Nike shares rose more than 7 percent during after hours trading after it exceeded analyst expectations in its quarterly results. The company reported $9.37 billion in revenue, beating the expected $9.18 billion. It also earned 52 cents per share, beating predictions of 46 cents per…
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Canadian pot grower Canopy Growth to enter US market
[ad_1] Canadian cannabis producer Canopy Growth said Thursday that it will “participate in the American market” now that the 2018 Farm Bill has been signed into law. Canopy CEO Bruce Linton said in a press release Thursday that “Canopy Growth commends the United States government for passing the Farm Bill, a transformative piece of legislation…
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The Fed should have listened to the market message
[ad_1] The Federal Reserve should listen to the market’s concerns about the economy, Wharton School finance professor Jeremy Siegel told CNBC on Thursday. The central bank raised rates by a quarter point on Wednesday and lowered its projections from three to two increases for 2019. It also said it would continue to shrink its balance…
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As fear rises on Wall Street, strategists warn the worst is yet to come
[ad_1] Keon is also concerned about trade. He said when the market turned higher Dec. 3 after President Donald Trump‘s meeting with Chinese President Xi Jinping, he began lightening up on stocks, and continued to sell into rallies. Stocks ultimately sold off on trade concerns even though the two sides have agreed to hold off…
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Buffett protege Jain buys $20 million of Berkshire Hathaway’s shares
[ad_1] Daniel Acker | Bloomberg | Getty Images Ajit Jain, head of the Berkshire Hathaway reinsurance business. Berkshire Hathaway‘s Ajit Jain bought about $20 million of stock on Dec. 18, according to a regulatory filing on Thursday. The move was in A shares, the ones that trade around $288,000 each. The filing said the purchases…
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When the market is in correction, tech tends to get pummeled the worst
[ad_1] Consumer staples still suffer, but the damage is less severe than in other areas. That sector loses 1.6 percent on average. Health care is the second-best performer of the group, losing only 5.2 percent on average, followed by utilities, which tends to lose 6 percent. Traders are already starting to give up on high-flying…
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Stocks making the biggest moves premarket: WBA, BB, MO, ACN & more
[ad_1] Names on the move ahead of the open. [ad_2] Source link
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Leon Cooperman says he’s finding ‘tremendous value’ in many stocks right now amid the sell-off
[ad_1] Omega Advisors founder Leon Cooperman said on Thursday that the indicators he looks at do not show him stocks are in a bear market. He said he’s finding “tremendous value” with many stocks today and suggest investors buy more of “their favorite stocks” here. Cooperman spoke with CNBC’s Scott Wapner on the “Halftime Report.”…
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Fed chief Jerome Powell is Trump’s worst re-election nightmare
[ad_1] Cramer said Powell asserted the Fed’s independence from political pressure but to the detriment of the economy and the stock market. “You could easily argue that we should’ve been down 1,000 Dow points,” Cramer said, adding that it would have made “a ton of sense” given what he’s heard. Erasing a 380-point gain prior…
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Kevin O’Leary chides Fed on data-dependence and two 2019 rate hikes
[ad_1] Calling monetary policymaking a “forward-looking exercise,” Powell also said, “We’re going to be letting incoming data inform our thinking about the appropriate path.” “But what happened to data dependency?” O’Leary challenged. “Why guarantee two” rate hikes next year? That’s one fewer than the Fed had projected for 2019 after its September rate increase. Veteran…
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Your first trade for Thursday, December 20
[ad_1] The “Fast Money” traders shared their first moves for the market open. Pete Najarian was a buyer of the Chicago Board Options Exchange. Brian Kelly was a buyer of the Emerging Markets ETF. Steve Grasso was a buyer of the Utilities ETF. Guy Adami was a buyer of the CME Group. Trader disclosure: On…
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Oil price NOSEDIVES to lowest level in more than a YEAR after falling more than 4 percent | City & Business | Finance
[ad_1] The price of oil tumbled more than four percent, putting them at their lowest levels since September 2017. US light crude oil fell $2.35 a barrel, or 4.9 percent, to a low of $45.82. Just before 13:00 GMT, the price had recovered slightly to $46.69 per barrel. At its lowest today, North Sea Brent…
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KANO COMPUTER KIT TOUCH: Discover the wonders of coding the DIY way | City & Business | Finance
[ad_1] The latest kit from creative computer company Kano, which has from six-year-olds to over-80s among its customers, is an empowering one-stop way to learn the ropes. In the course of building a portable, touchscreen computer and attaching a keyboard, Kano’s operating system will open up step-by-step a world of tools and narratives, where you can…
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Pound rate DROP: Weaker sterling making London an ATTRACTIVE place | City & Business | Finance
[ad_1] The pound sterling is currently trading at $1.2682 against the dollar, according to Bloomberg. Simon Cundey, managing director of Savile Row tailors Henry Poole & Co, insisted the weak pound as a result of Brexit has tempted people to take a trip to the UK. Mr Cundey told CNBC: “I think the pound has…
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Two more rate hikes could spark a recession, market researcher warns
[ad_1] He’s been worried the Federal Reserve would go too far. And now, market researcher James Bianco thinks his fear may be a reality. His updated outlook follows the Fed’s decision to plan for additional interest rate hikes next year. Bianco believes the move could spark a recession. “The markets are worried that two rate…
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Pound US dollar exchange rate: GBP rallies as strong UK retail sales offset Fed rate hike | City & Business | Finance
[ad_1] The pound is ticking higher against the US dollar this morning as the greenback gives up some of Wednesday’s gains after strengthening in the wake of yesterday’s rate decision by the Federal Reserve. This saw the Fed hike rates in December, as had been widely expected, before striking a more hawkish tone than expected…
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Bitcoin WARNING: UK braced to CRACK DOWN on tax-dodging BTC investors | City & Business | Finance
[ad_1] HMRC yesterday issued the largest crypto tax advice document in the world – a whopping 4,400 words – detailing how investors making money with cryptocurrency should be paying tax on their profits. It signals the government’s intention to embrace the likes of bitcoin, Ethereum and Ripple from 2019 as they become more popular with…
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UK economy WARNING: Bank of England DOWNGRADES growth forecast – interest rates held | City & Business | Finance
[ad_1] Interest rates were left at 0.75 percent today after a unanimous vote by the Monetary Policy Committee (MPC). It cut growth forecasts for the final quarter of 2018 to 0.2 percent, citing Brexit turbulence and a slowing global economy as main driving factors behind a fear of a slowdown in the UK economy. The…
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Pound euro exchange rate: GBP dips as Italy populists cave in to EU pressure over budget | City & Business | Finance
[ad_1] The euro has found strength in the news that Italy has managed to avoid the European Union’s sanctions after agreeing to reduce its controversial budget deficit from 2.4 per cent to 2.04 per cent. EU Economic Affairs Commissioner Pierre Moscovici commented that it was a “victory of political dialogue” that will strengthen the euro.…
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BOOST FOR BRITAIN: UK retail sales rise more than expected after Black Friday lift | City & Business | Finance
[ad_1] Sales jumped by 1.4 percent from October, outstripping forecasts by economists who predicted a 0.3 percent gain, according to the Office for National Statistics (ONS). The strongest growth was in household goods stores, up 5.3 percent, driven by an 11 percent increase in electrical appliances. But in terms of a larger trend, growth was…
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Pound LIVE: GBP Sterling holding ground ahead of Bank of England interest rate decision | City & Business | Finance
[ad_1] Sterling looks set to be influenced by the release of two key sets of economic data today, with the potential for the pound to rally off the back of good news. First up, the Office for National Statistics will release retail sale figures for November. The Bank of England is then expected to set…
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FTSE 100 PLUMMETS to 28-MONTH LOW – UK market headed for WORST year since financial crisis | City & Business | Finance
[ad_1] The FTSE 100 lost 119 points shortly after the open, dropping 1.6 percent and sending it to 6,646 points as a sea of red washed over the European stock market. As of 09:30 GMT, the UK stock index had clawed back up slightly but was still down 83 points to 6,682.57. The pan-European STOXX 600 opened…
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Federal Reserve in sweet spot to hike rates to neutral: Robert Heller
[ad_1] U.S. stocks sank after the Fed decision on Wednesday. Wall Street has had a wild ride in the last few months amid growing worries of a global economic slowdown — which U.S. President Donald Trump has blamed in part on the Fed hiking rates. “I think the market got what it expected and that…
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Fed is about to make its most important announcement of the year. Here's what Wells Fargo predicts
[ad_1] Wells Fargo's Michael Schumacher believes Wednesday's Fed decision will calm Wall Street jitters. [ad_2] Source link
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‘It’s been a good run’
[ad_1] Bank of America Merrill Lynch cut its rating on American Express shares to neutral from buy on Wednesday, saying it would “not be surprised” shareholders will sell the stock following recent out-performance. “It’s been a good run but … given the broader market volatility and elevated uncertainty relating to the macro backdrop, we anticipate…
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GIS, UAA, FDX, FB, JNJ & more
[ad_1] Check out the companies making headlines before the bell: General Mills – The food company earned an adjusted 85 cents per share for its latest quarter, 4 cents a share above estimates. Revenue was short of forecasts, however, and organic sales were down 1 percent. Overall sales were up by 5 percent from a…
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Bank of America upgrades Hershey to buy from underperform, predicting 10% annual returns
[ad_1] Luke Sharrett | Bloomberg | Getty Images Hershey Co. candy mascots stand outside of the company’s Chocolate World visitor center in Hershey, Pennsylvania. The Hershey Co. was double upgraded by Bank of America Merrill Lynch analysts who see the candymaker’s improved organic sales and operating profit growth, combined with strong balance sheet, driving 10…
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Your first trade for Wednesday, December 19
[ad_1] The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of Lowe’s. Brian Kelly was a buyer of Altria. Steve Grasso was a buyer of the Utilities ETF. Guy Adami was a buyer of Target. Trader disclosure: On December 18, 2018 the following stocks and commodities mentioned…
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Forget the Fed and trade war, the biggest threat to the stock market next year is a profit slowdown
[ad_1] No matter what you believe is driving the stock market in the short term — the Federal Reserve, a trade war, Trump’s Twitter — the value of stock prices over time ultimately will come down to earnings. And that means the future is only getting bleaker from here. Wall Street analysts are already slashing…
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Fed hikes rates by a quarter-point
[ad_1] “The Committee judges that some further gradual increases in the target range for the federal funds rate will be consistent with sustained expansion of economic activity, strong labor market conditions, and inflation near the Committee’s symmetric 2 percent objective over the medium term,” the statement said. The only changes from the November post-meeting statement…
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Fed makes key adjustment in effort to keep rates in line
[ad_1] Mark Wilson | Getty Images Federal Reserve Board Chairman Jerome Powell speaks during a news conference on December 19, 2018 in Washington, DC. The US Federal Reserve raised the short-term interest rates by a quarter percentage point on Wednesday, the fourth increase of the year, and signaled two more hikes could come in 2019.…
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Tilray, Spectrum Pharmaceuticals and more
[ad_1] Check out the companies making headlines after the bell: Tilray shares surged as much as 19 percent after hours after the company announced it entered into a $100 million joint venture with AB InBev. The beer brewer and Tilray will study non-alcoholic cannabis-based beverages in Canada. The joint venture, in which both companies will…
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‘The market is in no man’s land’
[ad_1] Stocks are extremely oversold, but investors still seem bent on selling after the Federal Reserve disappointed markets with a less dovish message than expected. “The bears have been writing the script,” said Scott Redler, partner with T3Live.com. The S&P 500 lost 1.5 percent Wednesday to 2,506 and is nearly 15 percent off its September…
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Fed’s Powell made mistake by tightening on ‘autopilot’
[ad_1] Federal Reserve Chairman Jerome Powell made two mistakes during his news conference Wednesday, according to bond king Jeffrey Gundlach. Powell sounded like he was on autopilot when it came to quantitative tightening and he talked too much about economic modeling, the DoubleLine Capital founder and CEO told CNBC’s Scott Wapner. Wapner tweet The Fed…
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Fed chief Powell says he doesn’t see the Fed changing its strategy for shrinking the balance sheet
[ad_1] Andrew Harrer | Bloomberg | Getty Images Jerome Powell, chairman of the U.S. Federal Reserve, speaks during a news conference following a Federal Open Market Committee (FOMC) meeting in Washington, D.C., U.S., on Wednesday, Dec. 19, 2018. As the future path of interest hikes gets cloudier, Federal Reserve Chairman Jerome Powell said the balance…
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Fed ‘hit the bulls-eye’ with statement: Ex-Wells CEO Dick Kovacevich
[ad_1] The Federal Reserve’s decision to raise its interest rate once more this year and lower its projection for next year “hit the bulls-eye,” former Wells Fargo CEO Dick Kovacevich told CNBC on Wednesday. In a highly anticipated decision, the independent agency announced Wednesday it is increasing its benchmark interest rate a quarter-point to 2.25…
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‘Political considerations’ have played no role in decision-making
[ad_1] Mark Wilson | Getty Images Federal Reserve Board Chairman Jerome Powell speaks during a news conference on December 19, 2018 in Washington, DC. The US Federal Reserve raised the short-term interest rates by a quarter percentage point on Wednesday, the fourth increase of the year, and signaled two more hikes could come in 2019.…
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Powell says inflation has surprised to the downside, but not by a lot
[ad_1] Saul Loeb | AFP | Getty Images Federal Reserve Board Chairman Jerome Powell speaks during a press conference in Washington, DC, September 26, 2018. Inflation has persistently surprised policy makers on the low end, Federal Reserve Chairman Jerome Powell acknowledged on Wednesday, but not enough to stop the central bank’s efforts to move interest…
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Powell says Fed has arrived at the lower end of neutral rate range
[ad_1] Olivier Douliery | Bloomberg | Getty Images Jerome Powell, governor of the U.S. Federal Reserve and President Donald Trump’s nominee as chairman of the Federal Reserve, arrives to a nomination announcement in the Rose Garden of the White House in Washington, D.C., on Thursday, Nov. 2, 2017. Federal Reserve chairman Jerome Powell made his…
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Fed dot plot December 2018
[ad_1] Andrew Harrer | Bloomberg | Getty Images Jerome Powell, chairman of the U.S. Federal Reserve. The Federal Reserve said Wednesday it now expects just two rate hikes in 2019, one less than it had previously forecast in September. In its economic projections, the Fed reduced its forecast for the federal funds rate. It said…
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Here’s what changed in the December Fed statement
[ad_1] This is a comparison of Wednesday’s FOMC statement with the one issued after the Fed’s previous policymaking meeting on November 8. Text removed from the November statement is in red with a horizontal line through the middle. Text appearing for the first time in the new statement is in red and underlined. Black text…
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Square makes a second attempt to break into banking
[ad_1] Square is making another attempt to break into banking. Approval of the plan would allow the payments company to operate without going through outside banks and intermediaries. If approved, Square would also get access to a coveted feature of the banking world — deposit insurance. San Francisco-based Square is well-known in the payments sector…
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Shares of Canadian lender tumble after Warren Buffett bids it farewell
[ad_1] Canadian mortgage lender Home Capital is doing well, and that’s why Warren Buffett is ditching it. Shares of Home Capital fell 12 percent on Wednesday after Buffett’s Berkshire Hathaway said it was going to “substantially exit” its investment once the lender completes a share buyback. Just a year ago, Berkshire swooped in to help…
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Inflation falls to lowest level in 20 MONTHS as petrol prices tumble | City & Business | Finance
[ad_1] The Consumer Prices Index (CPI) fell to 2.3 percent in November, its lowest level in 20 months, compared with 2.4 percent in October, according to the Office for National Statistics (ONS). The decline was in line with forecasts from economists. There was good news for motorists at the pumps, as petrol was down by…
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Innovative house builders fixing the housing crisis… despite Brexit | Personal Finance | Finance
[ad_1] British developer Blackmore Bond plc, is giving you the chance to profit from the country’s building boom and secure a better return than you could get with conventional banking bonds. It is paying fixed rates of 9.9 % a year on 5 year bonds. Investors money is deployed in property development helping to get…
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India rupee CLIMBS: INR breaks through 70-barrier against US dollar | City & Business | Finance
[ad_1] The Indian rupee recorded its biggest single-day gain in five years on Wednesday as it closed the trading day at 70.4462 versus the US dollar, a level not seen since September 2013. But the run of good fortune for the crisis-hit currency extended into today as it broke through the 70-barrier, appreciating in value…
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CHRISTMAS CREATIONS: making firms’ festive dreams come true | City & Business | Finance
[ad_1] With a £1 million turnover forecast for 2020, the British commercial displays group is now looking to extend its services, from design to installation and storage, to other key calendar highlights, such as the Chinese New Year and summertime events. Being strictly seasonal has however served Creations very well. Among its latest show-stoppers are…
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Christmas payments 2018: When will child benefit, Universal Credit be paid over Christmas? | Personal Finance | Finance
[ad_1] From presents to Christmas dinner, there are lots of extra outgoings putting pressure on your finances this month. But in some good news, HMRC has said people in receipt of some benefits will receive their payments earlier than usual. This is because Christmas Day 2018 falls on a Tuesday, and Christmas Day and Boxing…
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Bitcoin price: Mark Dow just shorted Bitcoin and it’s created crypto SHOCKWAVES | City & Business | Finance
[ad_1] Bitcoin is enjoying its longest positive run since September. BTC has added 20 percent to its price since Friday, dragging much of the crypto market with it. The flagship crypto is currently valued at £3,031 ($3,827) at 1pm GMT on Wednesday December 19, according to CoinDesk.com. December 2017 witnessed Bitcoin’s peak, with a value…
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Santander fined £32.8m after failing to pass on accounts of deceased customers to families | City & Business | Finance
[ad_1] The high street banking giant was slapped with the huge penalty by the Financial Conduct Authority (FCA) over “serious failings” which directly affected 40,428 customers. Santander did not transfer funds worth more than £183 million to beneficiaries when it should have done, according to the FCA. The bank also failed to disclose information relating…
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Save money on your broadband: Check if YOU could save cash and get faster internet | Personal Finance | Finance
[ad_1] Ofgem has revealed half of British homes could switch to a faster broadband service as it called on providers to inform customers about their best available deals. Their latest research showed less than half of 94 percent of UK homes and offices are taking up the opportunity for a speedier service. Sharon White, Ofcom…
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Bleak future as retired rely on a state pension | Personal Finance | Finance
[ad_1] The days of claiming the state pension on your 65th birthday are done as the retirement age climbs to 66 between now and October 2019, and then to 67 from 2026. Women, carers, those with health problems or in manual jobs run the risk of poverty as many will struggle to carry on working…
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Bitcoin price: Expert explain why bitcoin could soon show UPWARD spike | City & Business | Finance
[ad_1] Bullish finance boss Brian Kelly said pricing suggests the cryptocurrency is “getting closer to the bottom” of around $2,900 – indicating there could soon be an upward trend. Mr Kelly, founder of Brian Kelly Capital, told CNBC: “For me, the bull case and the investment case is that everything that you can say is…
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Bitcoin WARNING: Could Facebook and Amazon cryptocurrency plans TOPPLE bitcoin? | City & Business | Finance
[ad_1] The industry behemoths are both working behind the scenes to develop tokens that could easily overpower bitcoin. Rumours that the online giants were working on separate crypto projects began at the start of the year, but it is now understood from insiders at both companies that they are step closer to becoming a reality…
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Pound US dollar exchange rate: GBP holding steady ahead of Fed interest rate announcement | City & Business | Finance
[ad_1] Sterling is unchanged against the dollar today with currency traders unwilling to make any moves ahead of the US Federal Reserve’s interest rate decision later today. The Fed is expected to increase US interest rates by 25 basis points, to 2.5 per cent, although traders will be more focused on the so-called forward guidance…
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Pound euro exchange rate: GBP flat as UK inflation slows to 20-month low | City & Business | Finance
[ad_1] The pound is stuck in a narrow range against the euro this morning as markets react to the UK’s latest consumer price index (CPI). According to data published by the Office for National Statistics (ONS), domestic CPI inflation slowed from 2.4 per cent to 2.3 per cent last month, in line with market expectations.…
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Pound LIVE: GBP slips against euro as businesses warned to BRACE for no-deal Brexit | City & Business | Finance
[ad_1] Brexit has consistently remained the key influencer for the pound exchange rate versus other major currencies, with Sterling sensitive to political uncertainty. The pound will also be moved by the release of inflation figures today, with PoundSterlingLive.com claiming GBP could see a rise against the euro if inflation beats expectations, while it would tumble…
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Stocks making the biggest moves after hours: FedEx, Micron and more
[ad_1] Check out the companies making headlines after the bell: FedEx shares dropped nearly 6 percent during after hours trading Tuesday as the company lowered its full year 2019 earnings guidance but beat expectations this quarter. It lowered its full year earnings guidance to a range of $15.50 to $16.60 per share, down from $17.20…
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The market’s year is coming down to the Fed, but investors and Trump are likely to be disappointed
[ad_1] The Federal Reserve on Wednesday may not be able to sound easy enough to satisfy expectations — including those of President Donald Trump who wants the central bank to stop raising interest rates completely. So many investors expect the Fed to be dovish when it gives its highly-anticipated decision on interest rates that some…
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Federal Reserve won’t raise interest rates this week: Larry Lindsey
[ad_1] The Federal Reserve won’t raise rates on Wednesday “for all the right reasons,” former Fed Governor Larry Lindsey told CNBC on Tuesday. The central bank is expected to announce whether or not it will hike rates by a quarter point on Wednesday and market consensus is that it will do so. “The Fed should…
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Treasury yields slip amid volatility; Fed meeting ahead
[ad_1] U.S. government debt yields fell on Tuesday as investors fled riskier assets and geared up for a key Federal Reserve meeting. The yield on the benchmark 10-year Treasury note sank to 2.832 percent while the yield on the 30-year Treasury bond dropped to 3.082 percent. Bond yields move inversely to prices. Stocks have suffered…
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As Goldman’s 1MDB mess deepens, insiders doubt the firm’s rogue banker defense
[ad_1] In 1MDB, Goldman is undergoing its worst scandal since the financial crisis. Unlike previous controversies that stemmed from trading desks, the current issue comes from the firm’s investment banking side, which gave rise to current CEO David Solomon and most of his management team. Goldman shares are down 35 percent this year, the worst…
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Paul Meeks says the bottom isn’t in for tech stocks
[ad_1] Investor Paul Meeks is avoiding the sector that made him famous on Wall Street. Meeks, who’s known for running the world’s biggest tech fund for Merrill Lynch during the dot-com boom and subsequent collapse, sees more trouble ahead for the tech-dominated Nasdaq. He predicts it could be several weeks before it bottoms. “It’s too…
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UK AR startup Blippar collapses into administration, lays off staff
[ad_1] Blippar, once a much-hyped augmented reality start-up, has fallen into administration. The U.K.-based firm said Monday that Paul Appleton and Paul Cooper, of David Rubin and Partners, had been appointed as administrators by a U.K. court. “Blippar’s services are likely to come to halt once the administrators take control of the business and its…
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Major global markets already in bear market, stoking growth fears
[ad_1] The economic headwinds and downbeat sentiment has forced investors to consider to what extent those recent data points could spell more pain ahead for U.S. markets, Despite the recent-sell-off, relatively speaking, the major US indices are outperforming their global peers. The pan-European Stoxx 600 index has fallen more than 15 percent from its 52-week…
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Sell-off forces Credit Suisse to slash 2019 S&P 500 target
[ad_1] Recent wild rides in the stock market have forced Credit Suisse to cut its forecast for 2019. The bank has slashed its 2019 year-end S&P 500 price target to 2925 from 3350. The new target would be a 15 percent gain from current levels. “Our lower price target reflects recent volatility, rather than a…
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India rupee and Turkey lira BOOSTED against US dollar as oil prices TUMBLE | City & Business | Finance
[ad_1] The Indian rupee recorded its biggest single-day gain in five years, while the Turkish lira also appreciated against the American greenback. As of just before 15:00 GMT, the Indian rupee had gained 1.57 percent and was trading at 70.4462. It marks a level not seen for the Indian currency since November 30, and the…
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Your first trade for Tuesday, December 18
[ad_1] The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of Boeing. Karen Finerman was a buyer of Target. Dan Nathan was a seller of Oracle. Guy Adami was a buyer of CBS. Trader disclosure: On December 17, 2018 the following stocks and commodities mentioned or intended…
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The tech ‘FAANG’ trade is no longer the favorite of investors
[ad_1] Drew Angerer | Getty Images The day’s final numbers are displayed on a monitor on the floor of the New York Stock Exchange (NYSE) at the closing bell, November 19, 2018 in New York City. Technology stocks continued to plunge on Monday, with Facebook and Apple down again as the Dow Jones Industrial average…
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Germany in PANIC: Business morale TUMBLES in latest blow for German economy | City & Business | Finance
[ad_1] The Munich-based Ifo economic institute said its business climate index fell to 101.0, its lowest level in more than two years. Fears have been growing in recent months that Germany could be seeing a downturn in its economy boom, with the government this week slashing growth forecast for next year. Blame has pointed toward…
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DRI, FDS, NAV, ORCL, JNJ & more
[ad_1] Check out the companies making headlines before the bell: Darden Restaurants – The restaurant chain earned 92 cents per share for its second quarter, a penny a share above estimates. Revenue was very slightly below Street forecasts, and a same-restaurant sales increase of 2.1 percent was above the consensus forecast of a 2 percent…
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US stock market NOSEDIVING toward WORST December since GREAT DEPRESSION | City & Business | Finance
[ad_1] The two benchmark US stock indexes are poised for a dark December with the Dow Jones and S&P 500 down 7.8 percent and 7.6 percent so far this month. This puts them both on a collision course to plummet to their worst December performance since December 1931 as concerns over economic global growth rattle…
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Stock market PANIC: Global stocks in the RED as fears over growth slowdown intensify | City & Business | Finance
[ad_1] European stocks opened lower today with markets also being compounded by further Brexit developments. Prime Minister Theresa May announced MPs will vote on the conditions of Britain leaving the European Union (EU) in the week beginning the 14 January. The FTSE 100 was down by 39.54 points, a difference of 0.58 percent at just…
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Pound euro exchange rate: GBP steady as German business confidence drops to two-year low | City & Business | Finance
[ad_1] The pound is trading in a narrow range against the euro this morning following the publication of Germany’s latest business confidence figures. According to IFO’s latest German Business Climate Index, morale fell to its lowest levels since immediately after the EU referendum in 2016, dropping from 102 to 101. This is now the fourth…
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Pound US dollar exchange rate: GBP rocked by stock market volatility and Xi comments | City & Business | Finance
[ad_1] It has been a tumultuous couple of days for the US dollar, which has been buffeted around on global volatility in stock markets and some comments from Chinese President Xi. In a speech marking 40 years of economic reform, Xi Jinging launched a thinly-veiled attack on America’s policy of slapping tariffs on Chinese imports.…
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Bitcoin analysis: BTC remains on very thin ice despite SOARING to almost $3,500 | City & Business | Finance
[ad_1] Just days ago, the original crypto was looking decidedly fragile going into the weekend with plenty of naysayers predicting a drop through the trapdoor of $3,250 and into the waiting abyss where figures of below $2,000 were being suggested. However, like a relentless gladiator with an overpowering will to live, bitcoin catapulted with an…
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Brexit news: ‘No-one wants to move to Paris or Frankfurt!’ London WILL THRIVE | City & Business | Finance
[ad_1] And City analyst David Buik has said the study is further proof of London’s enduring appeal, predicting attempts to lure companies to Paris and Frankfurt are doomed to fail. More than a third of institutional investors (34 percent) think the UK will thrive after quitting the European Union, with European firms buying businesses in…
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Pound LIVE: GBP Sterling HIGHER against euro and US dollar as Brexit preparations ramp up | City & Business | Finance
[ad_1] Mrs May confirmed yesterday that MPs will vote on the conditions of Britain leaving the EU in the week beginning the 14 January. The vote was originally set for 11 December but was pushed back after the Conservative Party leader confessed she faced a “significant” defeat on her withdrawal agenda. Sterling has remained volatile…
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Amid trade war, Xi Jinping says China must stay the course on reform
[ad_1] Chinese President Xi Jinping addressed his nation Tuesday morning in Beijing to commemorate the 40th anniversary of China’s “reform and opening up,” striking a relatively defiant tone to international calls for major changes in his country’s economy. His remarks are being watched to see whether Xi’s idea of progress aligns with the West’s increasingly…
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China President Xi Jinping to address reform, may impact trade war
[ad_1] Chinese President Xi Jinping is set to signal on Tuesday whether his idea of progress aligns with the West’s increasingly vocal demands for less state control. That could have significant consequences for whether the U.S. reaches a trade deal with China by the end of its 90-day tariff ceasefire. Xi is scheduled to address…
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Stocks making the biggest moves after hours: Qualcomm, Oracle and more
[ad_1] David Paul Morris | Bloomberg | Getty Images Mark Hurd, CEO of Oracle Corp. Check out the companies making headlines after the bell: Oracle shares rose as much as 3.6 percent during after hours trading Monday as the company beat expectations on both earnings and revenue. The computer technology company earned 80 cents per…
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Stocks making the biggest moves premarket: BA, GOOGL, AMZN, GS, PCG & more
[ad_1] Names on the move ahead of the open. [ad_2] Source link
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Small cap stocks enter bear market, with Russell 2000 benchmark down 20% from highs
[ad_1] Shares of U.S. small-cap companies officially entered bear market territory Monday. The names are the most sensitive to fluctuations in the economy and market sentiment because of their small size, and could signal larger caps would soon join them. “The sell-off comes from the risk-off sentiment. Small caps are riskier than large caps, and…
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Bitcoin price news: Why is bitcoin rising today? BTC price SOARS | City & Business | Finance
[ad_1] Bitcoin has jumped 8.54 percent and is currently trading at $3,486.28, according to CoinMarketCap. Traders have ascribed the move to heavy buying on Japan and Hong Kong-based exchanges. It was heading for its biggest daily rise since November 28. However even though bitcoin has increased in a 24 hour period from $3,265.55, in reality…
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Goldman Sachs says it was lied to in 1MDB scandal that has plagued its stock
[ad_1] Chris Jung | NurPhoto | Getty Images Logo of 1MDB (1Malaysia Development Berhad) on a bus window in Kuala Lumpur, Malaysia. Goldman Sachs is fighting back against criminal charges from the Malaysian government, saying it was the victim of deceptive Malaysian officials in a scandal that has rocked the bank’s shares this year. The…
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‘Incredible’ the Fed is considering hiking interest rates again
[ad_1] Yuri Gripas | Bloomberg | Getty Images U.S. President Donald Trump speaks after signing bill H.R. 390, the Iraq and Syria Genocide Relief and Accountability Act of 2018, in the Oval Office of the White House in Washington, D.C., U.S., on Tuesday, Dec. 11, 2018. President Donald Trump took another shot at the Federal Reserve…
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Gundlach says passive investing has reached ‘mania’ status
[ad_1] DoubleLine Capital CEO Jeffrey Gundlach took a shot at passive investment strategies such as index funds on Monday, declaring the investing strategy a “mania” that is causing widespread problems in global stock markets. “I’m not at all a fan of passive investing. In fact, I think passive investing … has reached mania status as…
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Bitcoin price HIGH: How much is bitcoin worth after $20,000 peak one year ago? | City & Business | Finance
[ad_1] Bitcoin’s meteoric rise through the second half of December 2017 saw prices peak at £14,982.49 ($18,877) on some crypto exchanges. The sudden rush to buy bitcoin was offset by an almost immediate crash and prices have since fallen by around 80 percent on last year’s highs. However, the token’s volatile behaviour was to be…
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Stanley Druckenmiller says Fed must pause in WSJ op-ed
[ad_1] “We believe the U.S. economy can sustain strong performance next year, but it can ill afford a major policy error, either from the Fed or the rest of the administration. Given recent economic and market developments, the Fed should cease—for now—its double-barreled blitz of higher interest rates and tighter liquidity,” Drunkenmiller said. The S&P…
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FORCES VETERAN, 85, fears homeless fate after being kicked out of flat | The Crusader | Finance
[ad_1] For months the threat of homelessness has hung over him (Image: Tim Foster/GETTY) But that was where the Suez RAF veteran was heading after he got an eviction notice from his landlord. For months the threat of homelessness has hung over him while he battled attempts to remove him from the flat that he has…
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Germany BANKRUPTCY warning over wave of financial distress ‘to hit companies NEXT YEAR’ | City & Business | Finance
[ad_1] Lucas Flöther, insolvency administrator of Air Berlin, has forecast financial downturn for automotive suppliers, the retail trade and companies in East Germany for the coming year. Credit agency Crif Bürgel shared similar negative sentiment as it predicted 305,000 companies across the country would be beginning the financial year with financial problems. Mr Flöther said:…
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Bitcoin SOARS: BTC climbs above $3,400 as it ROCKETS to biggest daily rise in three weeks | City & Business | Finance
[ad_1] The flagship cryptocurrency jumped by more than 6 percent in value as it nudged close to its best level since November 28. As of 14:30 GMT, bitcoin was trading at $3,403.03 and was up 6.07 percent, according to Coindesk. The surge saw bitcoin claw back losses recorded last week after BTC was dragged below…
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Bitcoin ROCKETS: Crypto price boost just one year after Bitcoin peaked | City & Business | Finance
[ad_1] Bitcoin slumped to a yearly low of £2,556 ($3,218) on December 14 but showed signs of a huge recovery on Monday. The cryptocurrency rose to a high of $3,410 on Monday at 1.04pm, before slowing falling to $3.381 at 1.36pm, according to Coinbase. Bitcoin’s price rose by 4.86 percent in the last 24 hours…
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Goldman shares fall again on ‘1MDB’ fund scandal
[ad_1] Olivia Harris | Reuters Authorities around the world, including the United States, Switzerland and Singapore have looked into anti-money laundering breaches relating to 1MDB. Goldman Sachs shares fell, plumbing new lows for 2018, as the money laundering probe involving Malaysia’s state investment fund ‘1MDB’ took a more serious turn for the firm on Monday.…
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Are YOU sitting on a small fortune? Most wanted second-hand items that could make YOU cash | Personal Finance | Finance
[ad_1] Those old items gathering dust in a draw or garden shed after years of not being touched could be money for the taking, with one person’s rubbish being another person’s treasure. Regulated property buyer Good Move has unveiled the top 10 list of most searched for second-hand household items for this year. Ross Counsell,…
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Pound euro exchange rate: GBP steady against EUR as eurozone inflation sags | City & Business | Finance
[ad_1] The end of last week saw a much weakened pound under further pressure following the EU’s refusal to consider amending Theresa May’s Brexit deal, with the Prime Minister coming away from Brussels empty-handed. This week, the pound has steadied against the major currencies on a lack of fresh data and anything new happening with…
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Bitcoin WARNING: BTC will be ‘WORTHLESS and have ZERO VALUE’ in 2019 | City & Business | Finance
[ad_1] Colourful Canadian Calvin Ayre, founder of Bitcoin Cash and now one of the figureheads of BTC Satoshi Vision, says the flagship cryptocurrency will become worthless in 2019. In an exclusive interview with Express.co.uk, the controversial character believes bitcoin is being purposely driven into the ground and will almost cease to exist next year. He…
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Treasury yields lower; Fed meeting in focus
[ad_1] U.S. government debt prices were slightly higher on Monday amid ongoing concerns around a potential slowdown in economic growth. The yield on the benchmark 10-year Treasury note was slightly lower, trading at 2.884 percent, while the yield on the 30-year Treasury bond was just below the flatline, trading at 3.141 percent. Bond yields move…
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Pound LIVE: GBP Sterling holding ground against euro as May prepares for Brexit WARNING | City & Business | Finance
[ad_1] Sterling is trading at €1.1123, according to data from Bloomberg at 10:05 GMT, and is slightly down from the open of €1.1127. Against the US dollar, the pound is trading at up at $1.2607. In latest Brexit news, Prime Minister Theresa May is set to warn MPs that a second referendum on Britain leaving…
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China electric car companies are heading for a make-or-break moment
[ad_1] China’s push to lead the global development of electric cars is nearing a moment of truth. Two of the largest start-ups in the industry — both Chinese — launched new passenger vehicles in the last week. The announcements come with less than two years to go before Beijing’s subsidies are set to end, and…
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ASOS shares NOSEDIVE after online retailer issues PROFITS WARNING in run-up to Christmas | City & Business | Finance
[ad_1] Shares in the company nosedived by 36 percent to 2,660.00p, according to data from Bloomberg at 08:45 GMT. The online retailer had this morning warned it had experienced a “significant deterioration” in trading in the run-up to Christmas. While it delivered sales growth of 14 percent, the group said it “experienced a significant deterioration…
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Laura Ashley to SHUT 40 shops in latest battering for UK high street | City & Business | Finance
[ad_1] Chairman Ashley Khoo said the company will reduce the number of UK stores from 160 to 120 as the chairman pushes ahead with an expansion in China. But the chairman maintained he still had “confidence in the UK” despite Brexit uncertainty. Laura Ashley has already seen 40 retail units close since the beginning of…
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Market meltdown could spark depression-like conditions
[ad_1] Ron Paul is warning this year’s corrections could be a precursor to an epic market collapse that may come sooner than investors think. According to the former Republican presidential candidate, Wall Street is becoming more vulnerable to near-depression conditions within the next 12 months. “Once this volatility shows that we’re not going to resume…
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Recession fears are overblown, stocks will hit new highs: Federated
[ad_1] However, relief may be in sight. Chiavarone suggested next week’s Federal Reserve’s policy meeting could help calm the Street and act as a catalyst for a year-end rally — particularly if Chairman Jerome Powell confirms he’s moderating his stance on tightening interest rates. “We need to get a little bit of clarity on that.…
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Fed meeting may be pivotal for market seeking ‘knight in shining armor’
[ad_1] The Fed may not be able to turn the tide for the stock market in the week ahead, but it could soothe some of the wild volatility that has been crushing stocks since October. The Fed is expected to raise interest rates Wednesday by a quarter point, and the pressure is on for Fed…