[ad_1] Brian Kelly from Bitcoin trading company BKCM claimed the implementation of a new regulated exchange for cryptocurrencies could come as soon as Q4 2018, bringing forward new opportunities for Bitcoin. Asked about whether a regulated exchange and crypto custody system are “a long way off,” Mr Kelly told CNBC: “I don’t think they’re a…
[ad_1] The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of Apple Karen Finerman was a buyer of CBS Dan Nathan was a seller of Caterpillar Guy Adami was a buyer of Pfizer Trader disclosure: On July 31, 2018 the following stocks and commodities mentioned or intended…
[ad_1] That report, however, comes after Bloomberg News reported that the U.S. and China are trying to restart talks in order to avoid a full-blown trade war. The report said, citing sources familiar with the situation, that representatives of Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He are talking privately about the matter.…
[ad_1] Cryptocurrency-focused merchant bank Galaxy Digital will start trading on a Canadian stock exchange on Wednesday despite cooling investor interest and falling prices this year. Former Goldman Sachs macro trader Michael Novogratz launched the company in November, a month before bitcoin hit its all-time high near $20,000. The firm took a $134 million hit in…
[ad_1] The August Premium Bond numbers have been drawn and this month’s £1million winners are both from outer London. The first winner, a woman, holds the bond numbered 193WA458843. She bought the golden ticket in June 2012, and has £29,700 invested. The second winner is a man with the number 247YN655471. He bought his bond…
[ad_1] How much is the jackpot? The jackpot in the August draw is worth £88,560,875 and there has been a total of 3,098,342 prizes this month. There were 75,909,317,331 eligible bonds for the draw. Two people were lucky enough to win the top prize of £1 million to become the latest millionaires. The winners were…
[ad_1] According to data published by IHS Markit, UK factory growth slowed down faster than expected last month. The manufacturing PMI slipped from 54.4 to 54.0 against forecasts of a more modest slide to 54.2. The data revealed that factory output continued to slow in July, with firms struggling from increased input costs and last…
[ad_1] Turnover is expected to reach £3million next year, helped by sell-out successes like its Cold Brew Bottle (from £20) and special infusions, such as fruity strawberry lemonade and colour-changing blue raspberry. “The hot summer’s been brilliant for business,” says B&B co-founder Mike Turner. “Demand has exploded with the temperatures, particularly in our stores where…
[ad_1] JLR had to offer bigger incentives in China to make sales prior to an import duty cut, which led to dealers delaying purchases. Chief executive Dr Ralf Speth said: “We also continue to be impacted negatively by uncertainty over diesels in Europe… we expect sales and financial results to improve. “Given these issues, we…
[ad_1] This is a fraction below the week’s current GBP/USD exchange rate high of $1.317 and comes after a decline in the UK’s manufacturing sector activity reading. July’s UK manufacturing PMI has dropped from 54.4 points to 54, below forecasts for a 54.2 point reading. Any reading above 50 means the sector is growing, but…
[ad_1] The electricals and mobile phone retailer had wrongly estimated in June that last year’s attack involved 1.2 million personal records as well as an attempt to hack nearly six million bank card details. It said some data may have left its systems but not payment card or bank account details and there is no…
[ad_1] It said: “We are keeping wholesale energy prices and their impact on our cost of supply under review.” Half-year adjusted operating profit at its consumer business was down 20 percent to £430million, while group profit fell 4 percent to £782milion. UK supply accounts fell by 341,000. Iain Conn, Centrica’s chief executive, said: “In a…
[ad_1] Underlying pre-tax earnings were up 8 percent to £14million driven by its airline business, particularly in Germany. But chief Peter Fankhauser said that increased demand among Britons for holidays in Turkey and Egypt was not enough to offset tighter margins in Spain. He added: “There has been a slowdown in recent weeks with customers…
[ad_1] MORNING HEADLINES Good morning and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime. Cryptocurrency charts show a sharp drop this morning after bitcoin traders took part in an overnight flurry of sales. BTC has lost 3.71 percent on the day, trading at $7,837.76. The rest of…
[ad_1] Those eye-catching deals can actually cost hundreds of pounds more than mortgages that initially appear to charge more. Although house price growth and sales have slowed lately, the remortgage market is buoyant as homeowners look to cut outgoings or release extra funds to do up their homes or help family members on to the…
[ad_1] The number of cohabiting couples is growing sharply, but they have far fewer rights than married couples or those in a civil partnership, leaving them vulnerable if their relationship breaks up. There has also been a surge in the number of “singletons” who could find later life a greater struggle as they cannot share…
[ad_1] Most Britons know they need a valid driving licence, personal ID, and proof of insurance, but are less clued-up when it comes to surprising road rules in popular holiday destinations. For example, just 7 per cent know that Spanish law insists that you carry an extra pair of glasses, according to research from Sainsbury’s…
[ad_1] A scathing independent review of the bank’s Global Restructuring Group had found a “failure to recognise and manage confl icts of interest inherent in its commercial and turnaround objectives”. Firms had looked to the GRG for help after the financial crisis but the unit was accused of worsening their plight to pick up assets…
[ad_1] Check out the companies making headlines after the bell: Apple shares rose more than 3 percent during after-hours trading, following a third quarter earnings report that beat Wall Street estimates. The tech giant reported earnings per share of $2.34, beating analysts’ expectations of $2.18 per share. It also reported strong numbers for revenue of…
[ad_1] Dimon said Monday that the unwinding of the unprecedented program could backfire on the economy or spark a market panic. Potentially adding to the problem are new limitations on banks’ capital and trading activities, meaning swings in asset prices could be sharper than in the past, Dimon said in an April letter to investors.…
[ad_1] MGM Resorts and the National Basketball Association have entered into a multiyear partnership, establishing the casino company as the official gaming partner of the NBA and WNBA, they announced Tuesday. “This historic partnership will bring millions of NBA fans and MGM Resorts guests together through an innovative collaboration that will open new and exciting…
[ad_1] Amid a bull market in equities, billionaire hedge fund manager David Einhorn has performed poorly. The firm lost 5.4 percent in the second quarter, bringing the performance of Greenlight Capital funds to a year-to-date loss of 18.3 percent, according to a letter obtained by CNBC. This is what he had to say on his…
[ad_1] Market sentiment had been dented by economic data showing the euro area grew only 0.3 percent in the second quarter of the year from the first quarter. According to the region’s statistical office, this was due to concerns over international trade amid higher tariffs and barriers. In terms of inflation, prices rose 2.1 percent…
[ad_1] One money manager is betting big on overlooked real estate assets like nursing homes and student housing — and he’s expecting double-digit returns. “Areas that I really love are non-core real estate, off-the-run type assets,” said Marc Levine, chairman of the Illinois State Board of Investments. Levine manages $22.8 billion for 140,000 state employees.…
[ad_1] Peter Foley | Bloomberg | Getty Images Burton G. Malkiel, professor emeritus of economics at Princeton University, speaks at the John C. Bogle Legacy Forum in New York, U.S., on Tuesday, Jan. 31, 2012. Investing pioneer Burton Malkiel believes investors shouldn’t worry too much about a key recession indicator or the so-called the flattening…
[ad_1] Tech has lost 5.4 percent over the past three sessions after mixed results from some of the largest companies in the sector. Facebook reported weaker-than-expected revenue last week and disappointing global daily active users, a key metric for the company. Twitter, meanwhile, posted fewer-than-expected monthly users for the previous quarter. “Facebook is the poster…
[ad_1] It is expected that the Federal Reserve will raise the Federal Funds rate one more time in September. [ad_2] Source link
[ad_1] The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of AT&T Karen Finerman was a buyer of Citigroup Brian Kelly was a buyer of SPDR Gold Shares Guy Adami was a buyer of Cirrus Logic Trader disclosure: On July 30, 2018 the following stocks and commodities…
[ad_1] The U.S. and China are seeking to restart talks to avert a trade war, according to a Bloomberg News report. The media outlet said representatives of Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu are talking privately, according to sources familiar. [ad_2] Source link
[ad_1] Morgan Stanley believes the dramatic drops in some high-flying technology stock this is month is further evidence the stock market will go lower. “From our vantage point, the weaker earnings beat from several Tech leaders and outright misses from Netflix and Facebook were simply additional support for our [defensive] call,” chief U.S. equity strategist…
[ad_1] At the start of 2018, many analysts we spoke to on our show were positive about European cyclicals, especially financials after what was a bumper fourth quarter for the continent’s economic data. With a strong beta to underlying growth, as well as relatively cheap valuations to U.S. counterparts, what was not to love? It…
[ad_1] Leading cryptocurrency trading platform Coinbase is beefing up its compliance team as part of an effort to legitimize the asset class in the eyes of cautious regulators and institutional investors. The San Francisco-based start-up announced Tuesday it will hire Jeff Horowitz as its first-ever chief compliance officer. Horowitz was managing director and global head…
[ad_1] 11am MORNING HEADLINES Good morning, and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime. Bitcoin starts the day in the red, with prices hanging around $8,076.73, losing 1.03 percent on the day. Ethereum has also lost slightly, dropping 3.14 percent to trade at $448.08, while Ripple falls…
[ad_1] After initially sliding during the Asian session, the pound has clawed back its losses against the euro this morning following the publication of the Eurozone’s latest GDP figures. This saw euro investors left disappointed as data revealed that the Eurozone economy only expanded by 0.3 per cent in the second quarter, falling short of…
[ad_1] Last week saw the pound US dollar exchange rate hit a high of $1.321. This week opened with the pairing trading at $1.311, so Sterling’s current level represents a rise on the week so far. As with Monday, the pound’s movement today has mainly been dictated by pound trader uncertainty about Thursday’s Bank of…
[ad_1] Here are some of the highlights for the second quarter: Net income: 647 million Swiss francs ($655 million) Net revenues: 5.6 billion Swiss francs ($5.57 billion) CET1 ratio: 12.8 percent Tidjane Thiam, chief executive officer of Credit Suisse, said the second quarter of 2018 “was a period of continued strong performance as we achieved…
[ad_1] In the mad scramble to join the cryptocurrency market, McDonald’s have entered the fray with the MacCoin. Celebrating the 50th anniversary of the BicMac, the fast-food chain is offering a limited edition cryptocurrency to burger fans. McDonald’s eaters can grab the coins this week from any McDonald’s store in America to spend on a…
[ad_1] The FTSE 100 owner of Ladbrokes, Coral, Bwin and Sportingbet, has teamed up with casino giant MGM Resorts to capitalise on opportunities opened up by a ruling overturning a law that made gambling on sports such as baseball, football and basketball illegal. Both companies will initially commit $100million, setting up a separate headquarters in…
[ad_1] Kiyoshi Ota | Bloomberg | Getty Images Pedestrians cross a road in front of the Bank of Japan headquarters in Tokyo, Japan, on Tuesday, Oct. 31, 2017. With inflation in Japan expected to remain muted, some experts are predicting that the Bank of Japan will tweak its 10-year government bond yield target at its…
[ad_1] Check out the companies making headlines after the bell: AK Steel plummeted more than 8 percent during after-hours trading on Monday, after missing second quarter earnings estimates. The company reported earnings of 18 cents per share, missing Wall Street estimates of 20 cents. Its reported revenues were in line with expectations at $1.75 billion…
[ad_1] J.P. Morgan chief executive officer Jamie Dimon said that he feared the administration’s trade policies could derail the economic progress it has made. “I’m a little worried it could create negative outcomes,” Dimon said Monday on CNBC’s “Closing Bell.” “I think it could offset some of the benefits” of the tax overhaul and other…
[ad_1] J. P. Morgan chief executive officer and chairman Jamie Dimon is bullish on the U.S. economy, which is in the latter stages of one of the longest expansions in history. But when asked Monday what the single biggest risk to the economy is on CNBC’s “Closing Bell, Dimon had two answers. First, the U.S.…
[ad_1] J.P. Morgan Chase CEO Jamie Dimon said Monday that President Donald Trump‘s tax cuts, along with some of his other efforts, have helped out the U.S. economy. “Presidents get a lot of credit [and] a lot of blame for things they didn’t do, but the president has done things which accelerated growth,” Dimon told…
[ad_1] J.P. Morgan Chase’s CEO Jamie Dimon said Monday that his partnership with Jeff Bezos and Warren Buffett to improve health care for employees will likely start small, akin to Amazon’s small-scale operation during its first few years. “This is an absolute critical issue and all of us have a long-term view and we’ve been…
[ad_1] Shares of Tyson fell 7 percent to a 52-week low Monday after the food company cut its full-year guidance on trade worries related to the Trump administration’s imposition of tariffs and a turbulent commodities market. The international food company now expects adjusted earnings for fiscal year 2018 at approximately $5.70 to $6.00, down from…
[ad_1] Kroger announced Monday that a California subsidiary will no longer accept Visa credit cards as of mid-August as the two companies clash over payment fees and rates. “Visa’s rates and fees are among the highest of any credit card brand,” Foods Co. said in an emailed statement Monday. “The savings will be passed along…
[ad_1] The “Options Action” traders share three options trading strategies to kick off the week. Dan Nathan recommends a collar strategy in Apple. Carter Worth and Mike Khouw recommend a bearish call spread in Tesla. Mike Khouw recommends a put spread in Square Trader disclosure: On July 20, 2018, the following stocks and commodities mentioned…
[ad_1] The market’s favorite technology stocks are tanking as investors growing concerned over the companies’ ambitious growth targets following disappointing financial results from Facebook and Netflix this month. The NYSE FANG+ index is down more than 10 percent from its high of 3,062.88 in mid-June after its 2.7 percent drop Monday to the 2,737 level.…
[ad_1] Spencer Platt | Getty Images Traders work on the floor of the New York Stock Exchange on July 12, 2018 in New York City. Trade worries also rattled investors on Monday after Reuters reported that Canada, the European Union, Japan, Mexico and South Korea will meet next week to discuss a response to threats…
[ad_1] Banks have long used introductory offers to win over new customers, only to raise rates or otherwise make the products more expensive down the road. And a recent survey reveals that despite the high profile sales scandal at Wells Fargo & Co., bank employees still feel pressure to meet sales goals. American Express is…
[ad_1] Hans Redeker, Head of Global FX Strategy, predicted a rise to $1.50 because the pound offers a “fantastic opportunity” despite Brexit. He said: “For the time being it is leaning to the upside. Sterling is a currency which is hugely undervalued but has become weaker for hugely political considerations. “Though when you take politics…
[ad_1] Rental companies charge around £15 a day for an excess waiver policy, compared to iCarhireinsurance.com which offers cover from £2.99 a day in Europe (or £39.99 for annual cover), and can be bought before leaving home, avoiding rental desk stress. The insurer found that travellers who rent cars are still baffled by the pricing…
[ad_1] Jeffrey Browne and his wife say they are upset both at the loss of £70 and also at the way the money taken was taken after they had placed their custom and trust in Costas rental firm Flamenca Cars. The pensioners had saved up so they could take a few weeks break in May…
[ad_1] The 59-year-old also said she feels more “powerful” now than she did in her younger years, because she has stopped caring about what others think of her. The actress told Good Housekeeping that she was “always paid less” than her male counterparts in the past. On the issue being openly discussed in 2018, which…
[ad_1] Analysts are waiting to see whether UK banks report higher costs linked to compensation for PPI after a push by the Financial Conduct Authority was launched ahead of next year’s claims cut-off date. UBS analysts warned: “In an ironic, unhelpful twist of fate, the bank-funded Arnold Schwarzenegger advertising campaign for the August 29, 2019,…
[ad_1] Interest-only mortgages allow people to make regular interest payments on a loan, without paying off the loan itself – but the capital must be eventually paid off. Leeds’ new mortgages are being offered to borrowers aged 55 to 80. The loans need to be repaid on a specified life event. This could be the…
[ad_1] The pound is pushing higher against the US dollar this morning, with markets bracing themselves for the Bank of England’s (BoE) rate decision later this week. The BoE will conclude its latest policy meeting on Thursday, in which policymakers will vote whether or not to raise interest rates for only the second time in…
[ad_1] There has not been much high-impact UK data so far today, so the pound gains are likely down to traders looking ahead to Thursday’s Bank of England (BoE) interest rate decision. Economists are split down the middle on how the BoE will act. Current estimates are for an equal chance of an interest rate…
[ad_1] Current account surplus countries such as China, Japan and South Korea are getting richer by accumulating net foreign assets, including the huge and well remunerated claims on the United States. By contrast, America is getting poorer with $8 trillion, and counting, of net foreign liabilities. How can anyone blame the White House for trying…
[ad_1] IAG chief executive Willie Walsh said that France’s air traffic control strikes risk damaging passenger confidence and bookings if they do not end soon. He said last week’s co-ordinated action by IAG, easyJet, Ryanair and Wizz Air to complain to the European Commission against France’s industrial action showed the level of concern among carriers.…
[ad_1] Investors may want to consider unloading bonds in favor of crude oil. According to Bank of America-Merrill Lynch’s Paul Ciana, there are two particular charts that point to an oil breakout that could garner solid returns over the next 6 to 12 months. The firm’s chief global technical strategist’s first chart compares commodity prices…
[ad_1] The Russian government, previously considered a “major” holder of U.S. debt, has been steadily — and sharply — paring down the vast majority of its holdings of U.S. Treasury securities. Russian holdings of Treasury securities declined 84 percent between March and May, falling to $14.9 billion from $96.1 billion in just two months, according…
[ad_1] According to the consensus view from economists, the Bank’s Monetary Policy Committee will vote 7-2 for the quarter point increase, which would be its first rate rise since last November. Markets put the probability of the MPC hiking the base rate on August 2 at 90 per cent. The expected rate rise comes against…
[ad_1] Mission: Impossible Fallout opened on Wednesday and stars Cruise as super spy Ethan Hunt on the run from a CIA agent played by Henry Cavill. The chase takes them to France, Abu Dhabi and London. According to the accounts for the 16 months to September 30, 2017, £121million was spent on making the movie. …
[ad_1] ‘A Chinese economic hard landing or credit crisis is one of the biggest global risks out there’ (Image: GETTY) This country of 1.4 billion people now makes up around 15 per cent of global GDP, up from 4 per cent in 1990, after decades of double-digit annual growth rates. Last year its economy weighed…
[ad_1] Banks don’t reward loyalty for long-term savers (Image: GETTY) The Bank of England’s move to slash base rates to 0.5 per cent at the peak of the financial crisis in March 2009 is primarily to blame. Banks, and to a lesser extent building societies, have made a bad situation worse by abandoning loyal savers…
[ad_1] The warning follows the collapse of Iresa Energy on Friday. The low-cost energy group, which had 100,000 customers and was Britain’s most complained about supplier, is the latest victim of rising wholesale prices. Octopus Energy chief executive Greg Jackson says other challenger energy firms are also offering unsustainably low prices and that eventually they…
[ad_1] This is because regulator Ofgem, in its desire to increase price competition and break the stranglehold the Big Six providers have on the retail energy market, allowed lots of new firms to enter the sector. Unfortunately, Ofgem awarded licences after carrying out cursory background checks on the new energy companies and their directors. It…
[ad_1] Fixing failed firms should be based on economics, not revenge [ad_2] Source link
[ad_1] Get our daily newsletter Upgrade your inbox and get our Daily Dispatch and Editor’s Picks. OUT of every dollar Uganda allocated to education in 1995, just 20 cents reached the country’s schools. The rest was lost to local patronage politics. In Zhanjiang, one of China’s coastal cities, a smuggling ring wrested control of the…
[ad_1] A discussion with Matthew Bishop, Business Editor of The Economist and author of “Essential Economics” Get our daily newsletter Upgrade your inbox and get our Daily Dispatch and Editor’s Picks. “Economics…should be understood as a way of thinking about the world—a way of thinking about it in terms of costs and benefits. Every decision…
[ad_1] Get our daily newsletter Upgrade your inbox and get our Daily Dispatch and Editor’s Picks. IN AN ideal world, the migration of workers from poor countries to rich countries would be a principal channel of material progress—something that governments everywhere would seek to exploit and encourage. The economic logic is clear, provided one regards…
[ad_1] Get our daily newsletter Upgrade your inbox and get our Daily Dispatch and Editor’s Picks. PEOPLE in rich countries often have little sense of how poor the quality of education is in many developing countries. Where schools exist, there may be no teachers; and where teachers are employed, often they might as well not…
[ad_1] Get our daily newsletter Upgrade your inbox and get our Daily Dispatch and Editor’s Picks. IN RECENT years, researchers have developed methods to confront a range of diseases—illnesses, in many cases, that put an especially heavy burden on the world’s poor. Across much of the planet, but particularly in sub-Saharan Africa, the costs of…
[ad_1] Sources: “Much ado about multipliers” [ad_2] Source link
[ad_1] Our hosts look into their crystal ball to identify the scandals of tomorrow. Look out for swindled art collectors, spoiled wine connoisseurs, bungled legal invoices and rigging in sports [ad_2] Source link
[ad_1] Finding the bad guy in Hollywood films is easy: he either has a British accent or he works in finance. Philip Coggan and Oliver Morton analyse cinema’s famous financiers [ad_2] Source link
[ad_1] TSB counted the cost of an IT meltdown which left customers locked out of their online accounts and exposed to fraud. The Spanish-owned challenger bank sank to a £107.4million half-year pre-tax loss compared with a £108.3million last time after a £176.4million hit following the botched migration in April. [ad_2] Source link
[ad_1] Ellie Mae reported an increased number of closed loans on its Encompass platform despite ongoing shortages in the housing market. With 721,000 loan applications closed during the second quarter that’s an increase of 6 percent year over year. “What we may be seeing is a move from a sellers market to more of a…
[ad_1] All year, two groups felt kind of bulletproof: FAANG names because the growth was so amazing, and small caps because the economy was so strong. But something's happened this week. Everything has gone a bit topsy-turvey [ad_2] Source link
[ad_1] Dan Schulman, the chief executive of PayPal, knows how to fight. He climbed to a senior executive role at AT&T before he was 40, jumped ship to work at Priceline when the travel website was still a start-up, then took Virgin Mobile USA from an idea to a business with five million subscribers. After…
[ad_1] As trade tensions between the U.S. and China persist, Intel interim CEO Bob Swan said China remains an important market for Intel. “We have great partnerships there,” Swan said Friday on “Squawk on the Street.” “We’re very committed to that market,” said Swan, who is also executive vice president and chief financial officer. “Regardless…
[ad_1] Steve Eisman, the investor whose prescient financial crisis forecast was featured in “The Big Short,” is shorting electric automaker Tesla. The portfolio manager called the company’s founder Elon Musk a “very smart man” but raised concern about the CEO’s ability to follow through on lofty ambitions. “He’s got execution problems,” Eisman, portfolio manager at…
[ad_1] Economist Mohamed El-Erian told CNBC on Friday the probability of a September rate hike by the Federal Reserve is well below what traders believe. Fed officials including Chairman Jerome Powell have raised interest rates twice this year and have indicated two more are coming before the end of 2018. The CME FedWatch tool, which…
[ad_1] Actively managed funds are stumbling again this year. J.P. Morgan shared the latest performance data with its clients, revealing only 41 percent of active fund managers are beating their benchmark year to date versus 52 percent last year in the same time period. “Active equity managers are facing a challenging year … with performance…
[ad_1] The cultural shift includes more transparency on financial targets. Analysts have voiced frustration with the lack of information Goldman offers on its various businesses. Under Solomon, the bank is considering hosting it’s first-ever Investor Day next year, according to people with knowledge of the plans. At similar events held by competitors, firms typically disclose…
[ad_1] Exchange-traded funds, or ETFs, track an index or group of assets but trade like stocks. Bitcoin pundits say the approval of one could bring in a wave of new buyers, and because bitcoin has a fixed supply, push up prices. The fund would allow investors to have a stake in bitcoin without actually owning…
[ad_1] “While we may be late in the game when it comes to our economic expansion, we’re likely not in the last inning, and I think we see that in today’s numbers,” said Mike Loewengart, vice president of investment strategy at E-Trade. “Sure the trade war has begun to take its toll, but our economic…
[ad_1] The “Fast Money” traders shared their first moves for the market open. Dan Nathan was watching Twitter David Seaburg was a buyer of Alphabet Karen Finerman was a buyer of the ProShares UltraShort 20+ Year Treasury Guy Adami was a buyer of Cypress Semiconductor Trader disclosure: On July 25, 2018, the following stocks and…
[ad_1] Customers have been told they will continue to receive energy supplies until a new supplier is found. Their outstanding credit balances would be protected under its safety net. Ofgem is now in the process of finding a new supplier to take on Iresa’s customers, who will be contacted individually when the process is complete.…
[ad_1] The pound is trading in a narrow range against the US dollar this morning as currency markets remain in a holding pattern ahead of this afternoon’s US GDP reading. Economists are forecasting today’s US GDP estimate will reveal a strong upswing in US growth in the second quarter, with the current consensus being that…
[ad_1] In comments yesterday the EU’s chief Brexit negotiator Michel Barnier killed off the so-called Chequers plan and warned that any attempts by Theresa May to appeal to national heads of state would be a ‘waste of time’. Although this political development has ramped up pound investors’ fears of more Brexit chaos, and could be…
[ad_1] 8.30am MORNING HEADLINES Good morning, and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime. Bitcoin is priced at $7,910 this morning with ethereum down at $460 and ripple slipping to $0.44. For the second time in a week, the SEC dealt a blow to the those members…
[ad_1] But such data doesn’t account for transactions made through overseas units linked to Chinese companies. “Because China uses subsidiaries for purchases which do not consolidate in the parent company, the actual amount of purchases looks lower when using more common statistics,” Herrero told CNBC. These “hidden” deals, however, are tracked in AEI’s data as…
[ad_1] The satellite broadcaster, the focus of a bidding war between 39 per cent shareholder 21st Century Fox and American cable giant Comcast, said the building blocks were in place for future growth. Some analysts believe this could push the bid price higher, although Comcast is seen as the favourite having lost out to Disney…
[ad_1] When the next financial crisis does come, Harford says she thinks it’ll be one of territorialism, nationalism and some of the issues that will fall out of today’s politics. “The fines that are coming out across the world for individuals are making it more and more difficult for companies to act and invest globally,…
[ad_1] Treasury Secretary Steven Mnuchin told CNBC on Thursday a deal on NAFTA is coming in the near future. “We hope to have an agreement in principle, clearly, very soon. That’s the first priority,” Mnuchin said on “Squawk Box.” “I think we’re making a lot of progress.” The U.S., Mexico and Canada have been in…
[ad_1] A trade war may be underway, but International Paper CEO Mark Sutton told CNBC that he’s not worried about it affecting his business. “So far we haven’t had any direct impacts in any kind of retaliatory way,” Sutton said Thursday on “Closing Bell.” “The biggest issue for us, and companies like us, is the…
[ad_1] Group 1 Automotive‘s earnings rose to new records thanks to an increase in sales of used cars, Earl Hesterberg, the firm’s president and CEO, told CNBC on Thursday. Same-store used car sales in the U.S. were up 11 percent in the quarter. “That’s a number I’ve never seen before,” Hesterberg said on “Power Lunch.”…
[ad_1] Check out the companies making headlines after the bell: Shares of Amazon were up as much as 4 percent in after-hours trading, before pairing gains. Amazon reported mixed earnings results for its second quarter. The company massively beat analysts’ earnings expectations, posting $5.07 per share versus the estimated $2.50. Amazon did, however, miss revenue…
[ad_1] Facebook shares slumped by 24 percent in after-hours trade on Tuesday, wiping an eye-watering $130 billion off its market value in just two hours. The company missed projections on key metrics after struggling with data leaks and fake news scandals. Shares initially dropped 12 percent after the market closed as the social media giant…
[ad_1] Wall Street is surprised over Facebook’s lower profit margin guidance, driving at least three Wall Street firms to lower their ratings on the social media giant’s shares and slash their price targets. The company on Wednesday reported slightly lower-than-expected second-quarter sales and daily active user numbers. But the bigger disappointment was its guidance for…
[ad_1] The Securities and Exchange Commission rejected a proposal by Cameron and Tyler Winklevoss, founders of crypto exchange Gemini, for the first-ever cryptocurrency ETF. Last year, the SEC rejected an application for the “Winklevoss Bitcoin Trust” but in June the group submitted a proposed rule change. Among other arguments, the agency said in a release…
[ad_1] Facebook was the most-loved holding of hedge funds before the stock’s epic plunge on Thursday, resulting in a massive multibillion-dollar loss for the so-called smart money on Wall Street. Of 848 hedge funds tracked by Goldman Sachs, 97 had Facebook as a top 10 holding, according to the firm’s May “Hedge Fund Trend Monitor”…
[ad_1] “As a result, we’ve seen this pickup in demand for warehouse space, which traditionally was a pretty boring business … In an environment where it’s hard to invest, finding things you have high conviction in, where you think there’s going to be growth – that’s a pretty good strategy,” he added. Since joining Blackstone…
[ad_1] A quarter-century ago, Philip Morris lost a quarter of its value in a single day after the company drastically reduced expectations for its long-term profitability, just as Facebook did on Wednesday. [ad_2] Source link
[ad_1] Chief financial officer David Wehner said the company’s operating profit margin will fall to the “mid-30s on a percentage basis” over a more than two-year period, compared with second-quarter operating margin of 44 percent. “We’re also making the significant long-term investments in safety and security. Those investments are in the billions of dollars per…
[ad_1] Shares in the social media giant were trading for $175.94 as of 6.23pm BST – a drop of 19.11 percent since US markets opened. The huge fall came after Facebook published its earnings report for the second quarter of 2018, which revealed the company is growing at a slower rate than predicted. Its Q2…
[ad_1] It expects “few” route closures from Dublin, although some may be served less frequently. Ryanair said there had been a downturn in forward bookings and airfares in Ireland following recent strikes by Irish pilots. It has issued 90-day notices to more than 100 pilots and 200 crew. Peter Bellew, the chief operating officer, said:…
[ad_1] Shares initially dropped 12 percent after the market closed as the social media giant announced its poor second quarter finance figures. But worse was to come during a conference call an hour later when senior employees painted a gloomy picture of more slow growth and dwindling revenues. Shares slumped to just below $170, a…
[ad_1] Annual underlying pre-tax profit for the group, which has 123 stores in the UK and Ireland, grew by 28.5 percent to £13million on 18.4 percent higher sales of £185.9million. In the past year, customers increased by nearly a quarter to 1.15 million while international revenue jumped by over 40 percent. Announcing its annual results,…
[ad_1] Strong drinks and brewing sales more than offset a drop in food business, with its Taverns arm enjoying a 5 percent upturn in the past 16 weeks. Chief Ralph Findlay said: “We created a brilliant World Cup atmosphere, building on demand for experiences and the fact pubs are the next best thing to live…
[ad_1] The House of Commons Treasury Select Committee have called for reforms that would change the way in which day-to-day savings, borrowing, debts and pensions are dealt with. The majority of the proposals are of a ‘Robin Hood nature’ and call for the removal of tax reliefs from more wealthy households, while assisting vulnerable people.…
[ad_1] Shares in Facebook have plunged to $178.40 each, down from $217.50 before the company released its results last night. Bloomberg reported that Facebook stock just fell by 20 percent at the NASDAQ open, wiping off more than $120 billion in value. The loss of such a large some is now the biggest one-day hit…
[ad_1] The ECB held its main refinancing rate, marginal lending rate and deposit rate at 0 percent, 0.25 percent and -0.4 percent respectively for July. The pound rose slightly by 0.05 percent to €1.1251 in afternoon trading but remains well below the 12 month best of €1.158. The euro also fell against the US dollar,…
[ad_1] The drugs giant, which upgraded its forecast for annual profit growth following strong sales of new shingles vaccine Shingrix, will focus on science related to the immune system, use of genetics and advanced technologies. It also aims to make annual cost savings of £400million by 2021 in a major restructuring. Chief scientific officer Dr…
[ad_1] Bitcoin has enjoyed something of a revival over the last week with prices soaring back above $8,400, marking a 40 percent rise from the multi-month low of $5785 recorded in 2018. Positivity is very much back in the air with Matthew Newton, analyst at eToro, telling Express.co.uk that there’s “real strength” in the move…
[ad_1] Wall Street is watching on as Amazon – fronted by the newly crowned world’s richest man Jeff Bezos – is expected to show bigger profits when it reports second-quarter earnings today. According to a Thomson Reuters consensus estimate, Amazon is expected to post second-quarter profit of $2.50 per share, or roughly $1.2 billion, up…
[ad_1] By most measures, the U.S. economic outlook is bright. GDP (gross domestic product) growth could exceed 4 percent in the second quarter, unemployment is at decade-lows and wages are ticking up. But one figure paints a darker picture: U.S. national debt. Gross federal debt stands at a massive $21.2 trillion. Economists and policymakers are…
[ad_1] It is largely unmoved from this morning’s opening levels, holding close to the one-week high struck overnight in the wake of EU-US trade talks. The pound is trading narrowly against the US dollar this morning after the pairing climbed around half a cent overnight following some positive trade discussions between the EU and US.…
[ad_1] This week has seen the pound euro exchange rate has hit highs of €1.126 and lows of €1.123. The pound’s limited movement today comes from GBP trader uncertainty about the Brexit process, following reports of government plans to stockpile food and medical supplies. These plans are only meant as contingency measures in the event…
[ad_1] 8.30am HEADLINES Good morning, and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime. Bitcoin is priced at $8,276 this morning with ethereum rising to $482 and ripple surprisingly flat at $0.46. Was the recent bitcoin price rise sparked by events to the east? With President Donald…
[ad_1] With bitcoin recovering from it’s recent low point of $5785 to a high this week of $8,430, crypto traders around the world were optimistic for a positive outcome over the approval of a much-hyped ETF that would mark the biggest step yet for digital assets moving into the centre-ground of mainstream finance. A bitcoin…
[ad_1] In May, even as bitcoin continued to fall, Bogart said it was the only digital coin worth buying, as more banks and large institutions were beginning to accept the coin, and urged long-term investors to get on board. Other cryptocurrencies, he said, were “over-promising and under-delivering. Meanwhile you have a few that are kind…
[ad_1] The FTSE 100 firm is reducing its reliance on advertising revenue by acquiring production companies. Its share of viewers went up by 9 per cent over the first six months after “outstanding” contributions from Love Island and the World Cup. Total revenue was up 8 per cent to £1.6billion after a 16 per cent…
[ad_1] The technology firm is leading the way developing new fat-mimicking products from apple pomace, the solid leftovers from juicing, cider production and discarded whole fruit. Currently sent for composting or animal feed, this pomace’s beneficial fibres have a far higher, mass market value when added, potentially in the form of a powder or paste,…
[ad_1] The Co-op’s sales increased by 6.4 percent – its highest since October 2011 – as the fine weather increased local business, according to researcher Kantar Worldpanel. German chains Aldi and Lidl led the way with respective growth of 10.9 percent and 9.7 percent for a combined market share of 12.9 percent. Supermarket sales were…
[ad_1] Openreach, a subsidiary of BT, said that long-term discounts were being offered to providers such as Sky, Vodafone and TalkTalk in return for upgrading their customers from mainly copper-based services to fibre. So far, 10 million households and firms have upgraded to superfast broadband on the Openreach network but such services are available to…
[ad_1] But a General Court ruling in 2016 annulled the decision, saying Nestle had to prove the Kit Kat format was recognisable in every EU country. Yesterday, the ECJ found the court had been right to annul the decision by the European Union Intellectual Property Office to grant trademark status. It said Kit Kats were…
[ad_1] Check out the companies making headlines after the bell: Shares of Facebook plummeted more than 20 percent in after-hours trading. The social media giant reported mixed second-quarter results on Wednesday. It beat on earnings, posting $1.74 per share versus the $1.72 that was expected. But Facebook missed on revenue, generating $13.23 billion versus $13.36…
[ad_1] Despite tweets from President Donald Trump with such claims as “Tariffs are the greatest!” a growing number of companies are starting to feel the burden of the White House’s trade war. Dealing with the fallout from the president’s tough trade tactics is dominating the conference calls company executives typically hold following the release of…
[ad_1] PayPal reported second-quarter earnings that topped Wall Street estimates on Wednesday, but its third-quarter revenue outlook fell short. Here’s how the company did compared with what Wall Street expected: Earnings per share: 58 cents vs. 57 cents, forecast by Thomson Reuters Revenue: $3.86 billion vs. $3.81 billion, forecast by Thomson Reuters For the third-quarter,…
[ad_1] The S&P automobiles and components industry group is nearly 20 percent below its 52-week high, while insurance stocks are down 10.8 percent from their one-year high. The Dow transports index, meanwhile, is 6.5 percent below its one-year high. “What has kept the market near record terrain are a mere six stocks — Alphabet, Apple,…
[ad_1] Warren Buffett praised Leon Cooperman’s vow to give away his entire fortune to charity. In an email to the hedge fund billionaire, Buffett said “a disproportionately low number of people” from Wall Street have committed to the Giving Pledge, and he urged the 75-year-old Cooperman to influence his peers to give more. The Giving…
[ad_1] As trade tensions heat up, World Trade Organization Director-General Roberto Azevedo told CNBC, “The WTO is not broken. The WTO is functioning actually quite well.” Azevedo was responding to remarks by President Donald Trump’s chief economic advisor, Larry Kudlow, who said Wednesday morning that the president’s nontraditional ways of negotiating international affairs are not…
[ad_1] Brendan Smialowski | AFP | Getty Images US President Donald Trump speaks at an event to showcase American made products at the White House July 23, 2018 in Washington, DC. Despite warnings from fellow Republicans and business leaders, White House advisors believe President Donald Trump has plans to impose a 25 percent tariff on…
[ad_1] Senators Elizabeth Warren (D-Mass) and Bernie Sanders (I-VT) have introduced a new bill that would essentially wipe out tens of billions of dollars of Puerto Rico’s $73 billion in outstanding debt. The proposed legislation entitled the “U.S. Territorial Relief Act of 2018,” which counts Sen. Kirsten Gillibrand (D-NY), Edward J. Markey (D-Mass.), and Kamala…
[ad_1] Veteran investor Peter Boockvar doesn’t find stocks tempting right now. Despite strong second quarter earnings reports, the Bleakley Advisory Group chief investment officer sees trouble brewing as central banks around the world abandon their post-financial crisis easy money policies and drive interest rates higher. He calls it the biggest risk to the stock market.…
[ad_1] The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of General Motors Karen Finerman was a buyer of L Brands David Searburg was a buyer of the Nasdaq Biotech ETF Guy Adami was a buyer of Chevron Trader disclosure: On July 24, 2018, the following stocks…
[ad_1] Net income dropped to £356million from £414m during the same April to June period a year ago – but this was still in line with preliminary results the bank announced last week and well above the average analyst forecast of £141m. Revenues were flat at £5.9billion, halting a steep decline from previous years but…
[ad_1] Bitcoin’s return to $8,430 marks an over 40 percent rise from the multi-month low of $5785 recorded in 2018 and positivity is in the air with Matthew Newton, analyst at eToro, telling Express.co.uk that there’s “real strength” in the move back past the $8k mark. He said: “If bitcoin can close above $8,000 today,…
[ad_1] The US dollar is currently holding steady against the pound, ahead of a meeting between US President Donald Trump and European Commission President Jean-Claude Juncker in Washington DC later this afternoon. The talks are expected to be dominated by trade as Mr Juncker looks to alleviate tensions following a number of threats from President…
[ad_1] Despite limited movement, the pound is trading near a one-week high against the single currency. There has been little economic news to influence the pound this morning, so the pound has instead been affected by the latest Brexit developments. Prime Minister Theresa May has announced that she is downgrading the Department for Exiting the…
[ad_1] The projection has been made by the International Monetary Fund (IMF), which is also expecting the country’s economy to plummet by 18 percent in 2018 – up from the 15 percent drop it forecasted in April and the third consecutive year of double digit decline. It cited a significant drop in oil production and…
[ad_1] 8.30am MORNING HEADLINES Good morning, and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime. Bitcoin is priced at $8,349 this morning with ethereum rising to $475 and ripple suprisingly flat at $0.45. The Securities and Exchange Commission (SEC) has decided to play it safe after announcing…
[ad_1] Despite all of the positive variables in the economy right now — including this year’s huge earnings growth and high consumer confidence and spending — Dwyer said investors should be cautious about entering the market at this moment, because the near-term view “stinks right now.” “We’re overbought in a market where only 52 percent…
[ad_1] Greedy currency firms have declared open season on holidaymakers, stinging them with costly fees and punitive foreign exchange conversion rates at every turn. Travellers can squander hundreds of pounds because they fail to realise the dangers, according to research from foreign exchange service FairFX. So plan ahead to avoid getting burned even before you…
[ad_1] Currently sent for composting or animal feed, the pomace’s beneficial fibres potentially have a far higher mass-market value when added in powder or paste form to popular foods, explains Pennotec’s founder and managing director Dr Jonathan Hughes. He sees it as particularly relevant as the battle against childhood obesity intensifies. More than 25 per…
[ad_1] Banks are falling behind as building societies work harder to offer customers more interest, while the new breed of challenger banks is also battling for business. Savers are being urged to look beyond the high street to get a better return. Almost three quarters of building societies pay more than base rate, compared to…
[ad_1] Policy prices are now more than 10 per cent lower than a year ago, saving the typical motorist almost £80 when they come to renew. The average premium is now £648.10, down from £726.93 this time last year, the latest AA Index shows. Insurance director Janet Connor said this will come as welcome relief…
[ad_1] Wine and Spirit Trade Association figures show nearly 55 million bottles of gin worth almost £1.5billion were sold in the year to March, up 28 per cent in volume. Britons’ growing thirst for it and low-calorie mixers lifted half-year sales in Fever-Tree’s domestic market by 73 per cent to £58million, representing over half of…
[ad_1] The battle between Pepsi and Coke continues, and this time PepsiCo is winning. The iconic food company announced Tuesday that, starting Sept. 1, PepsiCo would become the exclusive nonalcoholic beverage and snack partner across all Madison Square Garden Company properties. The deal upends a contract MSG held with Coca-Cola dating back to 1910. Scott…
[ad_1] Bitcoin shook off a bearish two months after rising above $8,000 Tuesday but based on past behavior, another pullback could be coming, according to technical analysts that cover cryptocurrency. “Given that it has trended down so sharply since May, I wouldn’t want to get too greedy,” said Newton Advisor founder and analyst Mark Newton.…
[ad_1] For one, international markets should be “maximally overweighted” relative to U.S. stocks, Paulsen said. “Most of issues are more pronounced here than they are abroad. Overseas markets are under-owned, undervalued, they have more accommodative policy officials, a number of good attributes,” he noted. Paulsen would also raise a little cash, which would come in…
[ad_1] Check out the companies making headlines after the bell: Shares of iRobot soared nearly 20 percent in after-hours trading. The technology company crushed analysts’ earnings expectations for its second quarter, posting 37 cents per share versus the 18 cents that was expected. iRobot also beat analysts’ revenue estimates, generating $226 million versus the $219.7…
[ad_1] San Francisco-based asset manager Bitwise is joining the race to launch a regulated ETF for cryptocurrency, which if approved could help struggling bitcoin prices. The company filed with the U.S. Securities and Exchange Commission Tuesday for an exchange traded fund that would track an a basket of 10 cryptocurrencies, including bitcoin. The U.S. financial…
[ad_1] Villere of Villere & Co. said he looks for stocks with price-to-earnings ratios that are lower than their growth rate. But to find such companies, Villere says he hunts for stocks that are not widely covered by Wall Street. “To invest in these great businesses, … we need to find these companies when they…
[ad_1] The pan-European Stoxx 600 closed provisionally up 0.86 percent with almost every sector in the black. The benchmark reached a five-week intraday high. Basic resources led the gains on Tuesday, rallying 4.78 percent, with the sector on track for its best day since President Donald Trump’s election victory in November 2016. Meanwhile, autos stocks…
[ad_1] David Rosenberg is pretty certain he knows how the bull market in stocks will end. The Gluskin Sheff chief economist and strategist expects widening spreads will tear it apart. “The corporate bond market is today’s bubble, just like the mortgage market a decade ago was the bubble back then,” he said Monday on CNBC’s…
[ad_1] The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of the Infracap MLP ETF Brian Kelly was a buyer of the Regional Banks ETF Steve Grasso was a buyer of Tesla Guy Adami was a buyer of Trinity Industries Trader disclosure: On July 23, 2018, the…
[ad_1] Leon Cooperman, chairman and CEO of Omega Advisors, is not a fan of President Donald Trump‘s trade policy. The investor was asked about his views on the trade conflict and use of tariffs. “I think it is very dangerous, and I think he’s [Trump] on the wrong track, and I hope he backs off,”…
[ad_1] Leon Cooperman, chairman and CEO of Omega Advisors, loves Google-parent Alphabet as an investment. Alphabet “is my biggest position,” Cooperman said Tuesday on CNBC’s “Halftime Report.” The company’s “growth is very impressive relative to the valuation … It is very reasonably priced. Fortress balance sheet, dominant industry position, growing very rapidly.” The investor said…
[ad_1] Following a number of reports on XRP’s classification by the Securities and Exchange Commission, a spokesman from Ripple, an associated but entirely separate entity to the XRP token, told Express.co.uk: “Everyone is free to say what they want or pursue their own agenda in the media, but ultimately the facts around XRP will win…
[ad_1] Bristol will initially play host, with Doctor Who-themed rooms rolled out across the UK over the next three years in a five-year exclusive licence. Escape Hunt CEO Richard Harpham said: “Following the success of our original Escape Hunt games, we are thrilled to be partnering with BBC Studios to create Doctor Who – The…
[ad_1] Half-year pre-tax profit nearly halved from £4.5million to £2.3million as same-store sales dipped 2.7 per cent, although overall revenue was up 19.2 per cent to £601.7million after its acquisition of about 300 Co-op stores. Shares fell 29p to 181p. CEO Jonathan Miller said: “This upheaval has inevitably impacted sales and margin performance in the…
[ad_1] Novus, backed by Hayfin Capital Management and advised by Sapient Corporate Finance, is keeping ten Balls Brothers outlets and three Tank & Paddle sites. Slug & Lettuce owner Stonegate’s acquisition of 33-bar Be At One, which serves no food, comes nine months after its £101million offer for vodka and rum bars operator Revolution was…
[ad_1] Bitcoin positivity is on the up, as prices rise beyond $8,123 the cryptocurrency community has started looking towards the next major landmark, a return to $10,000. Having added a over $400 so far today Julian Hall, founder of Ultra Education told Express.co.uk that alongside the weather, BTC is also tipping the mercury. He said:…
[ad_1] Wall Street is buzzing over Alphabet’s blowout June quarter financial results. Analysts are growing more confident over the prospects for many of Alphabet’s emerging businesses including YouTube, autonomous cars and cloud computing. The internet giant reported better-than-expected second-quarter earnings Monday. It posted adjusted earnings per share of $11.75 versus the Wall Street consensus of…
[ad_1] The bitcoin rally is underway and crypto trader Brian Kelly said the digital coin will likely continue to appreciate in value. On Tuesday, bitcoin jumped above $8,000 and is now up 20 percent in one week. While bitcoin is nowhere near its December highs of around $19,500, the cryptocurrency has steadily increased in the…
[ad_1] The latest UK news has mainly consisted of warnings about what a ‘no-deal’ Brexit could do to the UK economy, which has hardly reassured GBP traders. The latest words of caution have come from new Foreign Secretary Jeremy Hunt, who said: “Without a real change in approach from the EU negotiators, we do now…
[ad_1] The pound is trading narrowly against the US dollar and the majority of its other peers this morning as investors continue to speculate whether the BoE will raise interest rates in August. Markets had hoped to glean some information from Ben Broadbent following a speech from the BoE Deputy Governor yesterday. However GBP investors…
[ad_1] 8.00am MORNING HEADLINES Good morning, and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime. Bitcoin is priced at $8,001 this morning with ethereum rising to $467 and ripple down at $0.45. BTC’s recovery continues, and a rise into mid to low $8k territory now seems likely…
[ad_1] The airline saw a 20 per cent drop in first-quarter post-tax profit to £285million despite 9 per cent higher revenue of £1.85billion as it carried 37.6 million passengers, up 7 per cent on last year, while its planes flew 96 per cent full. A series of one-day strikes by Irish pilots will cancel 16…
[ad_1] Tesla’s stock fell 3.3 percent Monday after it was reported that the electric car company asked suppliers for a refund of a portion of its payment. While automotive companies asking investors for cash back to support operations is a standard part of the negotiating process, Tesla has repeatedly said it doesn’t need the cash.…
[ad_1] David Paul Morris | Bloomberg | Getty Images Google cofounder and Alphabet CEO Larry Page speaks during the Google I/O Annual Developers Conference in San Francisco. Check out the companies making headlines after the bell: Shares of Google’s parent company Alphabet shot up more than 3 percent in extended-hours trading. The company beat analysts’…
[ad_1] The nationwide housing shortage continues but is especially troublesome for homebuyers with a budget of $250,000 or less, Susan Wachter, professor of real estate and of finance at the Wharton School of Business at the University of Pennsylvania, told CNBC on Monday. Rising labor, land and material costs are slowing down the supply, “except…
[ad_1] Sarissa Capital Management chief investment officer Alex Denner believes President Donald Trump’s criticism of pharmaceutical giant Pfizer is having an impact on how other companies in health care set their prices. “By putting pressure on one particular company, I think all the companies are saying: We don’t want to be Pfizer,” Denner said in…
[ad_1] Third Point hedge fund manager Dan Loeb, who has nearly doubled the S&P 500’s return for more than two decades, expressed concerns for the market rally in a note to clients. “We believe equities should go higher but at a moderate pace. While our case for continued favorable conditions is sound, we recognize that…
[ad_1] The large moves Morgan Stanley is tracking are so-called “3-sigma” events, which is a statistical way of calculating data that is within three standard deviations of a mean. 2018 is on track to have more than 25 such moves in financial markets, the most since 2008 when there were nearly 35, according to the…
[ad_1] The acceleration of U.S. trade actions poses a risk to S&P 500 earnings through falling export revenues and rising input costs for American companies, according to Goldman Sachs. A 10 percent tariff on all imports from China would lower Goldman’s 2019 S&P 500 earnings per share estimate by 3 percent, Goldman Sachs chief U.S.…
[ad_1] President Donald Trump has “a right” to call out the Federal Reserve if he feels the central bank is not acting in the best interest of the United States, strategist Mark Grant told CNBC on Monday. “The Federal Reserve bank does not represent the emerging markets or the European Union. It represents the United…
[ad_1] The “Options Action” traders share three options trading strategies to kick off the week. Dan Nathan recommends a put spread in Facebook. Carter Worth and Mike Khouw like the Nasdaq Biotech ETF Mike Khouw recommends a put spread in McDonald’s Trader disclosure: On July 20, 2018, the following stocks and commodities mentioned or intended…
[ad_1] Jin Lee | Bloomberg | Getty Images Leon Cooperman, chairman of Omega Advisors Billionaire hedge-fund manager Leon Cooperman is returning outside investor capital at year-end. Omega Advisors is converting to a family office at the end of 2018, according to an investor letter obtained by CNBC. “I turned 75 last April. It is my…
[ad_1] Artur Widak | NurPhoto | Getty Images A man passes in front of a Bitcoin exchange shop in Krakow, Poland. Bitcoin continued its rally Monday, shrugging off regulatory and security worries that have dragged down cryptocurrency prices this year. The world’s largest and most popular digital currency rose 5 percent to a high of…
[ad_1] Home buyers should check who is supplying their energy (Image: ALAMY/GETTY) There’s good reason because should you spot names like ‘heat network or ‘district/communal heating’, be warned there could be trouble ahead and no escape either. The system, a lower-carbon alternative to gas piped in by local generators to neighbourhoods, estates and apartment blocks,…
[ad_1] European stocks slumped on Monday following US President Donald Trump telling Iran it risked consequences “the like of which few throughout history have suffered before” if the Islamic Republic made more threats against the United States. The FTSE 100 – the UK’s top share index – fell 0.4 percent at 7,648.41 points slightly lagging…
[ad_1] Trump told CNBC on July 20 he is willing to slap tariffs on all $505.5 billion of Chinese imports to the U.S., pointing to a willingness to push the envelope as far as the U.S. needs to get Chinese tariff concessions. Dimon also referenced the investigation by the Commerce Department into imports as having…
[ad_1] The 2010 Dodd-Frank law was supposed to improve regulators’ ability to monitor derivatives. American banks had to start reporting specifics about their trades, including whom they traded with, to the Commodity Futures Trading Commission. The goal was to prevent a recurrence of the financial crisis, when fatal problems at Lehman Brothers caused a tidal…
[ad_1] Bitcoin is priced at $7,697 this morning after recovering from a sharp plunge to $7,399 on Sunday, wallet-holders are now hopeful for a return to $8,000 after positive headlines change the market sentiment in a year dominated by bad news. BTC, the number one digital currency by market capitalisation, plunged 3 percent over the…
[ad_1] It comes as a lull in salient UK data this week causes markets to return their focus to Brexit. Theresa May is set to meet with senior ministers in Gateshead this morning for what will be the last cabinet meeting before Parliament breaks for the summer recess. The Prime Minister is expected to urge…
[ad_1] Prime Minister Theresa May will be meeting with key EU figures this week, including the Prime Ministers of Estonia and the Czech Republic, along with Austria’s Chancellor. The race is on to secure a final Brexit agreement with the EU by the provisional October deadline, after which EU officials are expected to approve the…
[ad_1] 8.00am MORNING HEADLINES Good morning, and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime. Bitcoin is priced at $7,686 this morning with ethereum rising to $467 and ripple flat at $0.45. Bitcoin’s move towards mainstream adoption could be halted by the world’s central banks, according to…
[ad_1] The XRP token connected to blockchain payment firm ripple is in the centre of a debate in the US over whether securities laws apply to cryptocurrencies. Bitcoin and ethereum, the largest cryptocurrencies by market capitalisation, are generally not considered securities, however the XRP token, described by Ripple as an “independent digital asset” has been…
[ad_1] The unit labor costs (wages minus labor productivity) in the fourth quarter of last year and the first quarter of this year shot up at an average annual rate of 1.6 percent — a big jump from zero growth in the first nine months of last year. That is quite a hit to profit…
[ad_1] The difficulty for those entrepreneurs, however, is gaining access to the capital to build up their stock and serve their new, enlarged audience. Though Bangladesh has an established microloan system — loans specifically for small entrepreneurs in less developed economies — it’s hampered by cumbersome assessment processes and high interest rates. That’s where Afeef…
[ad_1] A popular protection strategy against the U.S.-China trade dispute may soon collapse. Mayflower Advisors’ Larry Glazer warned recently that a lot of investors are setting themselves up for pain by paying an “absurd and ridiculous premium” for small cap stocks. “Investors are fearful, and they’ve been positioning for the smallest stocks they can get…
[ad_1] I imagine quite a few of them will have something to say about the fact that Mogford was paid a total of £2.1million in basic pay, pension, benefits and bonuses for the 12 months to March 31. United Utilities’ financial performance last year was not actually too bad. Revenues were up 1.9 per cent…
[ad_1] It found that the big home energy providers generally increased their prices for a medium usage household on a standard dual fuel tariff by £56, or 4.9 per cent, this year. The Big Six is comprised of British Gas, Eon, EDF, nPower, Scottish Power and SSE. In contrast, GoCompare said that the average hike…
[ad_1] BOLTHOLE… Giles and and his wife Jane bought in France 18 years ago (Image: nc) A foreign bolthole was the dream of many before the financial crisis, but now the sums often fail to add up as incomes stagnate and the pound falls in value, making overseas homes more expensive. Brexit has caused further…
[ad_1] The concept has been extended to the idea of a pensions dashboard that would allow savers to see all their workplace and personal pots, including the state pension, in a single online place of their choosing. This would give everyone a much clearer idea of how far they have come in saving for retirement…
[ad_1] It said that 58 firms issued profit warnings during the course of 2018’s second quarter, compared to 45 for the corresponding period the previous year. EY attributed the increase to an “exceptionally high number of warnings” from sectors exposed to consumer spending, which have been hurt by shoppers reining in their spending and the…
[ad_1] The pay-TV firm is the prize at the centre of a takeover battle between entertainment giant 21st Century Fox, which is being acquired by Walt Disney, and Comcast, the biggest cable television operator in the US. Comcast has had its £26billion offer accepted by Sky. However, Fox is still weighing up whether to table…
[ad_1] The firm currently broadcasts its Elite Series tournaments online using platforms such as Facebook and Twitch, the streaming service owned by Amazon. Filming is at its purpose built west London studio in Fulham. Gfinity executive chairman Gary Cook said it will hold talks with broadcasters about bringing e-sports to TV, as well as mobile…
[ad_1] Until this year Susan Marshall had easily let out her commercial properties and flats but in April, business rates went up for the second time in 18 months. Now she is unable to let two empty shops in Bradford and Leeds – and has been forced to sell three of her student flats. The…
[ad_1] Zachary Karabell is concerned there’s too much fear on Wall Street, based on one particular question from his clients. “It’s ‘why aren’t the markets going down because there is so much negative news,’” the River Twice Capital president told CNBC’s “Trading Nation” on Friday. Karabell said it’s the most disconcerting question he’s getting, especially…
[ad_1] The People’s Bank of China dropped the dollar’s reference rate to 6.7671 yuan – the most radical weakening of the currency in two years. A cheaper yuan will make Chinese exports less expensive and has the potential to boost sales overseas. The move came just hours after President Donald Trump threatened to slap tariffs…
[ad_1] More than 75 per cent of creditors’ votes last month backed plans to close 31 of Scottish-registered House of Fraser’s 59 stores and cut rents on 10 of those left open, despite opposition from landlords unhappy at shouldering the burden. The British Property Federation, alarmed at the increasing use of CVAs by struggling retailers,…
[ad_1] President Donald Trump is worried the Federal Reserve will raise interest rates two more times this year, a White House official told CNBC. Aides to the president, however, are telling Trump the central bank is conducting policy properly. Their message from Treasury Secretary Steven Mnuchin and National Economic Council Director Larry Kudlow is “the…
[ad_1] Brent Lewin | Bloomberg | Getty Images State Street Financial Center building, which houses the company’s headquarters, in Boston, Massachusetts. State Street shares dropped 7 percent on Friday, on track for their worst day in two years, after the bank announced it will suspend a share buyback to acquire Charles River Development. The financial…
[ad_1] Bitmex founder and CEO Arthur Hayes dismissed claims that the recent bitcoin rally was simply a short squeeze as he put forward his point for why a bitcoin peak could soon happen. Speaking on CNBC, Mr Hayes said: “I don’t actually think we’ve seen the worst. “I think this is a very strong rally…
[ad_1] In the second quarter of 2018, the growth in non-seasonally adjusted money supply (M2) has been zero. That’s right, the money supply did not grow at all. This is because the Fed is shrinking its balance sheet ultimately by $50 billion per month. In addition, the Fed has raised interest rates seven times since…
[ad_1] President Donald Trump‘s criticism of monetary policy won’t have much impact on how the Federal Reserve goes about its business, judging by initial market reaction. While making for more eye-popping headlines out of the Oval Office, the president’s complaints that rising interest rates are hampering economic progress did not move the fed funds futures…
[ad_1] President Donald Trump said the stock market rally since his election victory gives him the opportunity to be more aggressive in his trade war with China and other countries. “This is the time. You know the expression we’re playing with the bank’s money,” he told CNBC’s Joe Kernen in a “Squawk Box” interview aired…
[ad_1] The “Fast Money” traders shared their first moves for the market open. Pete Najarian was a buyer of Weight Watchers Brian Kelly was a buyer of SPDR Gold Shares Dan Nathan was a buyer of Target Guy Adami was a buyer of IBM Trader disclosure: On July 19, 2018 the following stocks and commodities…
[ad_1] Getty Images Workers pack and ship customer orders at the 750,000-square-foot Amazon fulfillment center in Romeoville, Illinois. Amazon shares will surge this year due to its expansion into new industries and countries, according to Deutsche Bank. The firm raised its price target to $2,200 from $1,800 for Amazon shares, representing 21 percent upside to…
[ad_1] Mark Wilson | Getty Images President Donald Trump talks about his meeting with Russian President Vladimir Putin, during a meeting with House Republicans in the Cabinet Room of the White House on July 17, 2018 in Washington, DC. President Donald Trump criticized the Federal Reserve’s monetary policy again. Tweet Link “The United States should…
[ad_1] After plummeting through the week on the back of some gloomy economic data, the Pound appears to have finally bottomed out against the euro today. The muted movement in the pound euro exchange rate this morning comes in the wake of a warning from the International Monetary Fund (IMF) which warned a ‘no-deal’ Brexit…
[ad_1] Underlying comparable sales fell 3 per cent to £16.1 million. Goals said its modernisation was paying off and an upgrade to a further 78 arenas, costing £3million, will be complete by autumn. Chief executive Andy Anson said: “The investment strategy that is being executed is improving the underlying performance of the clubs. “However, frustratingly,…
[ad_1] Bitcoin has enjoyed a positive week with headlines from around the world sending the price above $7,500 for the first time in a month. The crypto community are keen for the momentum to continue and after some much-needed regulatory clarity from the central banks of G20 nations, and interest from the world’s leading asset…
[ad_1] ROYAL Mail suffered a huge backlash as 70 per cent of investors voted against senior bosses’ pay. It emerged it was paying new chief executive Rico Back a salary of £640,000, £100,000 more than his predecessor Moya Greene, whose contractural entitlements also raised concerns. [ad_2] Source link
[ad_1] The pound’s latest losses are down to continued uncertainty about Brexit talks, this time focusing on the contentious issue of the Irish border. According to previewed comments, Prime Minister Theresa May is expected to reject the EU’s current proposals for the border after Brexit, labelling them ‘unworkable’. While such a stance represents an effort…
[ad_1] Bitcoin’s stuttering relationship with the trillion dollar world of big banks and asset managers looked to have taken a positive turn this week when Blackrock, the world’s largest asset manager, assembled a working group to look at blockchain technology and cryptocurrencies. The news helped push bitcoin up to $7,558 and restore hope that the…
[ad_1] 8.15am MORNING HEADLINES Good morning, and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime. Bitcoin is priced at $7,357 this morning with ethereum falling to $456 and ripple down at $45. However, despite enjoying a positive week so far, bitcoin bull Arthur Hayes from BitMEX warns that bitcoin hasn’t…
[ad_1] American Express tumbled after the company reported revenue that fell short of expectations on Wednesday. The stock fell more than 3 percent in after-hours trade. Here’s how the company did compared with what Wall Street expected: Earnings: $1.84 per share vs. $1.82 per share, forecast by Thomson Reuters Revenue: $10.00 billion vs. $10.05 billion,…
[ad_1] Amazon shares will keep surging even after its stunning rise so far this year, according to J.P. Morgan. The firm reiterated its overweight rating for Amazon shares, predicting the company will report sales above expectations for its second quarter. “Amazon is one of our top picks … Turning to the 2Q set-up, even at…
[ad_1] The Federal Reserve’s banking supervisor gave his backing Thursday to a new interest rate benchmark for institutions to use when lending to each other. Fed Governor Randal Quarles, vice chairman for supervision, said banks can use the central bank’s Secured Overnight Financing Rate as an alternative to the London Interbank Offered Rate, or Libor,…
[ad_1] Comcast, the cable company which also owns Universal Pictures, had been involved in a fierce bidding war with Disney for Fox assets including The Simpsons, National Geographic and the Hollywood film studio behind X-Men and Avatar, as well as Fox’s 39 per cent stake in Sky. Disney had made the initial move last December…
[ad_1] The bank stopped selling add-on products in the middle of last year and is phasing out of existing consumer add-on products. In a statement emailed to CNBC, Wells Fargo spokeswoman Catherine Pulley said: “We are reviewing add-on products sold to consumers by the Bank or its service providers and if issues are found during…
[ad_1] Amid a big year in markets for cannabis companies, Canadian medical marijuana company Tilray made its debut on the Nasdaq on Thursday — becoming the first pure-play marijuana company to go public on a major U.S. exchange. And Tilray President and CEO Brendan Kennedy told CNBC that the buzz around cannabis is only going…
[ad_1] Graeme Robertson | Getty Images Islamic Bank of Britain was launched in London, England in 2004. The bank has since been renamed to Al Rayan bank. Higher oil prices this year have reduced the need for energy-exporters in the Middle East to raise funds through the Islamic bond market — threatening the growth of…
[ad_1] Alphabet’s internet search and advertising businesses are thriving, according to Goldman Sachs. The firm raised its price target to $1,350 from $1,250 for Alphabet shares, representing 11 percent upside to Wednesday’s close. Goldman also reiterated its buy and conviction list rating for the company. “Our advertiser checks point to a solid 2Q, with particular…
[ad_1] Wall Street could be making a costly mistake. According to economist and Yale University senior fellow Stephen Roach, the markets are underestimating the impact from the trade war with China. “The market just thinks this is typical Donald Trump bluster, and based on his performance on a lot of other issues,” he said Wednesday…
[ad_1] Copper prices reached their lowest levels in a year on Thursday amid concerns that a global trade war could strain global supply chains and slow down the global economy. The metal’s futures for September delivery traded as low as $2.6735 per pound, their lowest since July 14, 2017, when it hit $2.663. Copper traded…
[ad_1] President Donald Trump has a point – the Federal Reserve is being “very aggressive” about raising interest rates, former Dallas Fed Vice President Jerry O’Driscoll told CNBC on Thursday. [ad_2] Source link
[ad_1] Bitcoin is rallying. The digital tokens were priced around $7,400 on Thursday at 5:30 p.m. ET — an increase of more than 10 percent from a month ago, according to Coinbase. But Arthur Hayes, the bitcoin bull who predicted the cryptocurrency would reach $50,000 by year’s end just a few weeks ago, said bitcoin…
[ad_1] Andrew Harrer | Bloomberg | Getty Images File photo: Comcast Chairman and CEO Brian Roberts speaks during a news conference in Washington, D.C. Comcast shares are more attractive after the company decided to walk away from its bidding war for Twenty-First Century Fox assets, according to Raymond James. The firm raised its rating on…
[ad_1] Toys R Us workers who lost their jobs when the heavily indebted retailer collapsed are talking to two buyout firms about a possible hardship fund — but a third, billionaire investor Steven Roth’s Vornado Realty Trust, is refusing to answer their emails. KKR and Bain, which took the company private in partnership with Vornado…
[ad_1] Check out the companies making headlines after the bell: Shares of Skechers plummeted more than 20 percent in extended-hours trading. The shoe company missed analysts’ earnings expectations for its second quarter, posting only 29 cents per share compared with the 41 cents that was estimated. Skechers met analysts’ revenue expectations, generating $1.13 billion for…
[ad_1] The White House clarified statements made by President Donald Trump to CNBC about the Federal Reserve and its decision to raise interest rates this year. In a statement to CNBC, the White House said: “Of course the President respects the independence of the Fed. As he said he considers the Federal Reserve Board Chair…
[ad_1] A lot of people think Netflix and Facebook are overvalued growth stocks, but not longtime value investor Bill Nygren. Nygren said Thursday he thinks investors could be missing out on two big value plays if they just look at their price-to-earnings multiples, which are widely followed measures of stock valuations. “You hear people talk…
[ad_1] There are few other examples. George H.W. Bush lamented that Alan Greenspan’s reluctance to cut rates more aggressively in the early 1990s helped push the economy into a recession that paved the way for Bill Clinton’s election. But his criticisms came in 1998 — six years after Bush left office. Ronald Reagan also reportedly…
[ad_1] LIKE other countries, China has bureaucratic infighting. But it does better than most at keeping tussles hidden from outside view, especially under Xi Jinping, a president who brooks no dissent. So it has been highly unusual to see a spat between the central bank and finance ministry spill into the open. It reveals cracks…
[ad_1] SQUEEZING the top 1% ought to be the most natural thing in the world for politicians seeking to please the masses. Yet, with few exceptions, today’s populist insurgents are more concerned with immigration and sovereignty than with the top rate of income tax. This disconnect may be more than an oddity. It may be…
[ad_1] TO PAY for his professional flight degree at Purdue University in Indiana, Andrew Hoyler had two choices. He could rely on loans and scholarships. Or he could cover some of the cost with an “income-share agreement” (ISA), a contract with Purdue to pay it a percentage of his earnings for a fixed period after…
[ad_1] ASK the chief investment officer of a fund-management firm how to spread your investments and you will be told to put so much in stocks, so much in bonds and something in hedge funds or private equity. Chances are that white-elephant buildings, eggs and long-life milk will not feature. But in Venezuela, where the…
[ad_1] Songs of Solomon LAME-DUCK periods can last for only so long. It was clear beforehand that a Goldman Sachs earnings call this week would be packed with questions about succession. When would the chief executive, Lloyd Blankfein, step down? (He had said in March he was leaving, but gave no date.) What would his…
[ad_1] Making a Kylian CHEERS erupted from Calais to Cannes when Kylian Mbappé, a 19-year-old striker, thumped in France’s fourth goal in the World Cup final on July 15th. Among the smuggest onlookers were the accountants at Paris Saint-Germain, Mr Mbappé’s club. He was already a prized asset before the tournament, having broken the record…
[ad_1] Calls for Gavin Darby to quit by its second- and third-largest investors, Oasis Management and Paulson & Co, were defeated as 59 per cent of votes backed him at the annual meeting, with 41 per cent against his re-election. Chairman Keith Hamill reiterated the board’s backing for Darby but said it would give “careful…
[ad_1] The business, created in 2016 when investment firm Greybull acquired assets from Tata Steel for a nominal £1, will spend £50million upgrading its rod mill at Scunthorpe, Lincs, to be commissioned in autumn 2019. Turnover increased by £200million to £1.4billion last year, while pre-tax earnings were £68million excluding a £47million hit from a blast…
[ad_1] A LOT rests on the shoulders of the euro zone’s top central banker. The president of the European Central Bank (ECB) is not just in charge of ensuring monetary and financial stability in one of the world’s largest economies. In the absence of a single European fiscal authority, it also falls to the ECB…
[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 Take-Two Interactive Dan Nathan was a buyer of American Express Guy Adami was a buyer of Huntsman Corp Trader disclosure: On July 18, 2018 the following stocks and commodities…
[ad_1] Louis Ascui | Fairfax Media | Getty Images Jack Dorsey, CEO of Square Square shares will thrive as the company expands to new markets and builds upon its core payments offering, according to Credit Suisse. The firm raised its rating to outperform from neutral for Square shares, citing the increasing breadth of its product…
[ad_1] Michael Nagle | Bloomberg | Getty Images A monitor displays Procter & Gamble Co. signage on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Monday, May 15, 2017. Procter & Gamble’s profitability will suffer because of rising costs and product pricing pressure, according to UBS. The firm lowered…
[ad_1] Thierry Monasse | Getty Images European Commissioner for Trade Cecilia Malmstroem addresses a press conference on the US restrictions on imported steel and aluminium at the Berlaymont, the European Commission headquarters, on June 1, 2018 in Brussels, Belgium. The European Union is making a list of goods it could target as a way to…
[ad_1] According to data published by the Office for National Statistics (ONS), UK sales growth slumped by 0.5 per cent in June, falling from an upwardly revised 1.4 per cent in May. This was the worst reading since heavy snow disrupted high streets in March and fell short of expectations of a modest 0.2 per…
[ad_1] Although ethereum is most commonly known as one of a cluster of leading cryptocurrencies to make headlines in late 2017, industry insiders have claimed that its underlying technology gives it a greater value over the long term when compared to bitcoin’s BTC and ripple’s XRP coins. The oft-touted claim is that bitcoin aims to…
[ad_1] Ripple’s remarkable journey from obscurity to $3.40. back down to today’s price of $0.49 could soon see it ring-fenced from other competing cryptocurrencies, with concern over its centralisation potentially excluding XRP from entry into a price boosting regulatory framework. Last week, rival bitcoin recruited another billionaire believer from the world of mainstream finance after…
[ad_1] The cryptocurrency market appears to finally be back on the mend today, as prices creep back up. Most major tokens are down slightly on the day, despite making big gains on a disappointing week. The largest cryptocurrency, bitcoin, typically dictates how well the rest of the market does, with BTC losing 1.22 percent to…
[ad_1] This represents the worst pound euro exchange rate since late-November 2017. Today’s UK retail sales data has revealed a slowdown in consumption, and follows the slowing wage growth stats and lacklustre inflation data earlier this week. On the month in June, base retail sales have fallen by -0.5 per cent with fuel included, and…
[ad_1] Bitcoin had a strong breakout yesterday jumping 10 percent in just 30 minutes, reaching a high of $7,523. The cryptocurrency failed to settle above the $7,500 mark as the day progressed but King of Crypto Barry Silbert said signs are “starting to look pretty good” for bitcoin. Speaking to CNBC, Mr Silbert said: “A lot…
[ad_1] 8.30am MORNING HEADLINES Good morning, and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime. Bitcoin is priced at $7,330 this morning with ethereum falling to $478 and ripple down at $0.48. The crypto community will watch and wait today with two US House of Representatives Committees…
[ad_1] Goldman Sachs announced this week that David Solomon will replace Lloyd Blankfein as CEO. Mr Blankfein took control in 2006 and led the company through a recession created in part by bulge-bracket banks in the late 2000s. However, the outspoken chief was more watchful with his comments on all things crypto, claiming in June…
[ad_1] Hong Kong, long a global leader in banking and finance, is bracing for the arrival of so-called virtual banks — financial institutions without physical branches where all transactions are online. Authorities are keen to raise Hong Kong’s game in financial technology, or “fintech,” part of broader ambitions to turn the semi-autonomous Chinese territory into…
[ad_1] Blockchain and cryptocurrency may one day be “as broadly adopted as the internet is today,” Jeremy Allaire, CEO and co-founder of fintech company Circle, told CNBC. “It’s a really fertile space in terms of the fundamental, technical and infrastructure,” Allaire said on “Fast Money” Wednesday. One major driver for this possible occurrence: ethereum. “Right…
[ad_1] Check out the companies making headlines after the bell: Shares of American Express tumbled nearly 3 percent in after-hours trading. The financial services company beat analysts’ expectations on earnings for its second quarter, posting $1.84 per share versus the estimated $1.82 per share. However, American Express missed analysts’ revenue estimates, generating $10 billion versus…
[ad_1] But while Rubenstein said it’s good to be cautious, he doesn’t see “any evidence of a slowdown.” “You have to assume that you’ll have some slowdown in the next five or six years and at that point be prepared for it,” he told CNBC’s Becky Quick at the conference Wednesday. On Tuesday, Federal Reserve…
[ad_1] Morgan Stanley crushed profit expectations on trading and investment banking results that exceeded analysts’ expectations. The New York-based company said profit surged 39 percent to $2.44 billion in the second quarter from a year earlier, exceeding the $2 billion estimate of analysts surveyed by Thomson Reuters. Earnings per share of $1.30 surpassed the $1.11…
[ad_1] Investors appear to be warming up to an overlooked area of the fixed income market. Wells Fargo Securities’ George Bory sees a bullish trend in corporate bond demand. “With bond yields being somewhat more stable, we’re actually starting to see an uptick in interest in our asset class. So, there is a little bit…
[ad_1] Visa has been on a tear this year, up 23 percent and leading the Dow. TradingAnalysis.com founder Todd Gordon is betting on a bigger rally for the stock when it reports earnings next week. Gordon told CNBC’s “Trading Nation” on Tuesday that “there’s not much to dislike” about the chart of the credit card…
[ad_1] Shares of Amazon ticked lower on Wednesday despite the e-commerce giant reporting its annual Prime Day was its biggest sales event ever. The stock fell 0.1 percent after closing at a record high in the previous session. Amazon said more than 100 million products were sold during the event, adding it was the company’s…
[ad_1] Yuri Gripas | Reuters Federal Reserve Board Chairman Jerome Powell reacts at his news conference after the two-day meeting of the Federal Open Market Committee (FOMC) on interest rate policy in Washington, U.S., June 13, 2018 The head of the Federal Reserve raised concerns about cryptocurrencies on Wednesday, saying they present serious risks to…
[ad_1] The company said it has had good demand for its fixed low-price plans, up by 100,000 from the previous quarter to 2.1million, despite many customers coming to the end of their contract. Chief Tristia Harrison who took over in February last year, said: “You might have expected churn to pick up. It didn’t, it…
[ad_1] Cranfield School of Management says the number of female executive directors at FTSE 250 firms fell from 38 to 30 between October and June. Female executive posts on FTSE 100 boards have flatlined for a fourth year at 9.7 per cent, although women part-time in boardroom roles is at an all-time high of 35.4…
[ad_1] The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of L Brands Karen Finerman was a buyer of Lowes Steve Grasso was a buyer of Snap Guy Adami was a buyer of Cleveland-Cliffs Trader disclosure: On July 17, 2018 the following stocks and commodities mentioned or…
[ad_1] Bitcoin prices pushed up past the $7,000 mark for the first time in more than 30 days this morning as the market begins to rise again. Prices jumped more than 10 percent in the last 24 hours as positive headlines buoyed investor confidence. BTC is trading at $7,429.65 as of 8.30am today. The rest…
[ad_1] NC DYHS co-founder and managing director Daniel Whytock and co-founder Amanda Lowe The one-stop portal, a beacon of cheer amid the current closure carnage, is a showcase for traditionally non-digital shops where shoppers can buy direct or if nearby click-and-collect. “Online shopping is here to stay, but that doesn’t make the death of independents…
[ad_1] It comes following the release of the UK’s latest Consumer Price Index (CPI). This has added to the losses seen yesterday when the pound plummeted as a narrowly won vote for Theresa May’s Brexit trade bill highlighted the growing divisions within the Conservative Party. Looking at the latest CPI figures, data released by the…
[ad_1] This fast-growing invasive weed, brought to the UK in the 1820s as an ornamental plant, chokes out other greenery and is said to force its way through concrete, pipes and walls. Standard household insurance policies refuse to cover the damage, while eradicating the bamboo-like plant, which can grow a metre every three weeks, is…
[ad_1] Dashboard cameras are set to be a normal part of everyday driving, with more than half of motorists planning to install one. A fifth already use a dash cam, according to research from the AA, up from just one per cent five years ago. The chief motivation is to establish liability in the event…
[ad_1] More than half are lucky enough to persuade friends and family to look after their furry friends for free, but nearly a third face bills of up to £25 a day. This adds £131 on average to holiday costs, but can rise to more than £200 where people pay for “home away from home”…
[ad_1] This deterioration puts the pound US dollar exchange rate at its lowest level since September 2017. Disappointing UK inflation data has been behind the latest Sterling slide, with the chances of a near-term Bank of England (BoE) interest rate hike being seen to have diminished. Base year-on-year inflation in June has remained at 2.4…
[ad_1] Bitcoin is flying having jumped 10 percent over the last day to hit a high of $7,523 in the early hours this morning. Other coins have joined the party with ethereum climbing to $504 and ripple up at $0.51. Analysts are excited after BTC climbed the 50-day moving average (MA) on Monday for the…
[ad_1] Patrick T. Fallon | Bloomberg | Getty Images Elon Musk, co-founder and chief executive officer of Tesla Inc. Tesla CEO Elon Musk apologized after making the baseless claim that a British diver involved in the Thai cave rescue mission was a pedophile. The apology comes after the spelunker, Vern Unsworth, who was involved in…
[ad_1] 8.00am MORNING HEADLINES Good morning, and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime. Bitcoin is priced at $7,460 this morning with ethereum climbing to $504 and ripple up at $0.51. Prices are up today after the FSB has sent the crypto community a welcome boost…
[ad_1] The trade war with the U.S. couldn’t have come at a worse timing for China, which had just begun focusing “in earnest” on fixing problems with its economy, J.P. Morgan analysts said on Wednesday. Many analysts have suggested that the impact of the Washington-Beijing trade skirmish will be relatively muted on the Chinese economy,…
[ad_1] The FTSE 100 firm said letter volumes fell by 6 per cent in the three months to June 24 compared with the same period last year, a faster decline than the 5 per cent drop in the past financial year. Letter revenue was down 7 per cent. It admitted some business customers were “uncertain…
[ad_1] Joe Giron | World Series of Poker Hedge fund billionaire David Einhorn plays poker at the World Series of Poker’s “Big One for One Drop.” Hedge fund billionaire David Einhorn busted out of a $1 million buy-in poker tournament just short of taking home prize money, Tuesday night in Las Vegas. Einhorn and 26 other businessmen…
[ad_1] Consumers might one day be able to charge their purchases on their credit cards using bitcoin as a currency. On Tuesday, Mastercard won a patent to protect a method that would manage “fractional reserves of blockchain currency.” At present, Mastercard holders can only pay for things using currency that the government has declared as…
[ad_1] Goldman Sachs said profit surged 40 percent to $2.57 billion in the second quarter, exceeding analysts’ estimates on better-than-expected revenue from every major business with the exception of trading. The stock slipped as the company said legal and regulatory costs increased. Earnings of $5.98 per share beat the $4.66 estimate of analysts surveyed by…
[ad_1] IBM has teamed up with financial technology start-up Stronghold on a cryptocurrency that’s pegged to the U.S. dollar. The tech giant has put its weight behind a so-called “stablecoin,” a digital token that, in principle, is tied to an existing government-backed currency, in order to reduce the volatility associated with virtual currencies. In this…
[ad_1] The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of Alphabet Karen Finerman was a buyer of Bank of America David Seaburg was a buyer of Netflix Guy Adami was a buyer of U.S. Bancorp Trader disclosure: On July 16, 2018, the following stocks and commodities…
[ad_1] Goldman Sachs is replacing Lloyd Blankfein as CEO, the company announced Tuesday, meaning the 63-year-old can finally take full advantage of a favorite pastime: Twitter. “I’ll probably follow people’s advice and take at least a couple of weeks off,” Blankfein told The New York Times. “Here’s one thing I look forward to: unrestrained tweeting.”…
[ad_1] The tech-heavy Nasdaq Composite hit record highs Tuesday with FAANG names Amazon and Netflix leading the index. But David Katz told CNBC that these “high-flying stocks might slow down soon.” “We think the duller things, like a Cisco, is going to start to do a lot better,” Katz, president and chief investment officer of…
[ad_1] Check out the companies making headlines after the bell: Sonic Automotive stock plummeted nearly 10 percent in after-hours trading. The automotive retailer said that gross margin pressure in key brands negatively impacted its second-quarter results. Jeff Dyke, Sonic Automotive’s executive vice president of operations, said its BMW and Honda dealerships faced lower gross profit…
[ad_1] Intel’s market leadership in the semiconductor industry may be at risk, according to Evercore ISI. The firm lowered its rating to in line from outperform for Intel shares, saying the search for the company’s next CEO will add to investor uncertainty. Last month Intel announced the resignation of its CEO Brian Krzanich for his…
[ad_1] Goldman Sachs was upgraded to outperform from neutral by Credit Suisse during the trading day Tuesday after the New York-based bank reporting better-than-expected quarterly earnings. “Upside was revenue, expense and tax rate driven; better yet for the forward look — time to start thinking about tomorrow — is the progress against the bank’s previously…
[ad_1] Tomohiro Ohsumi | Bloomberg | Getty Images Many Chinese still believe their central government has the capacity to keep the economy from sliding into a recession, just as it did during the Asian financial crisis in 1997 and the Great Recession in 2008. “All industries, institutions and individuals are running short of cash,” said…
[ad_1] Matthew Busch | Bloomberg | Getty Images An employee prepares to install the hood on a sports utility vehicle at the General Motors assembly plant in Arlington, Texas. U.S. President Donald Trump and European Commission President Jean-Claude Juncker will meet next week to discuss a possible reduction of auto tariffs for several key trade…
[ad_1] Goldman Sachs President David Solomon’s promotion to chief executive officer in October sets off a cascade of vacancies, none more important than for his current position. Solomon, 56, will likely announce his successor — or a pair of them as co-presidents — in September before taking the reins from Lloyd Blankfein, according to people…
[ad_1] [The stream is slated to start at 10 am ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chairman Jerome Powell delivers his semiannual testimony to Congress this week, with an appearance Tuesday in the Senate and Wednesday in the House of Representatives. Among the…
[ad_1] Brendan McDermid | Reuters People pass by a video sign display with the logo for Roku, a Fox-backed video streaming firm, that held it’s IPO at the Nasdaq Marketsite in New York, September 28, 2017. Roku shares will turn around after a disappointing start this year, according to KeyBanc Capital Markets The firm raised…
[ad_1] The average Wall Street analyst believes that, over the next year, Netflix shares will return just 2 percent, Amazon shares will return 4.7 percent, Alphabet shares will return 6.1 percent and Facebook shares will return 8.8 percent. The group has widely been hailed as leaders in the broader stock market over the past year,…
[ad_1] The long-time banker and part-time DJ replaces one of the longest-serving Wall Street bosses, with Mr Blankfein’s leadership having both survived and outlasted the financial crisis. Mr Solomon – known on the dance floor as DJ Sol – takes up the reins after serving as chief operating officer and president from 2016, having previously…
[ad_1] John Traynor of People's United Advisors breaks down the two things investors should keep an eye on in the second half of 2018. [ad_2] Source link
[ad_1] The U.S. economy is running at a fast enough pace to justify continued interest rate increases, Federal Reserve Chairman Jerome Powell said Tuesday. Powell is delivering his semiannual testimony to Congress this week, starting with an appearance Tuesday before the Senate Committee on Banking, Housing and Urban Affairs. In remarks he provided ahead of…
[ad_1] A consensus of economists expect the Office for National Statistics’ (ONS) June Consumer Price Index (CPI) to come in at 2.6 percent, up from 2.4 percent in both May and April. The last time CPI was higher was in February, when inflation was 2.7 percent. Samuel Tombs, chief UK economist at Pantheon Macroeconomics, expects…
[ad_1] Goldman Sachs finally made it official: David Solomon, an investment banker who rose through the ranks while finding time to pursue a hobby as an electronic dance music disc jockey, will be the next leader of the 149-year old investment bank. Solomon, 56, will now have time to put his stamp on his organization…
[ad_1] The bull market’s future may come down to just one economic chart. According to economic forecaster Lakshman Achuthan, the trend between income and spending growth is signaling trouble is already here. “These are two of the key coincident indicators of what defines the economic cycle,” he said Monday on CNBC’s “Trading Nation.” “What we…
[ad_1] THE city watchdog is proposing a shake-up of Britain’s £500billion retail fund “supermarket” industry to give investors better value. [ad_2] Source link
[ad_1] Ripple is back on the up after a difficult 2018 so far, and new chief technology officer David Schwartz has plotted the path for XRP during an Ask Me Anything (AMA) session posted on YouTube. Ripple’s aim in the year ahead is clear, rather than store value and replace money as a means of…
[ad_1] The firm, whose five venues include Birmingham’s National Exhibition Centre, lifted pre-tax earnings 9.8 percent to £54.7million on 2.8 percent higher sales of £162.1million. It follows a ramping up of investment across its estate from £4.5million to £21.7million, including hall upgrades at Birmingham’s International Convention Centre and 185 screens across the campus. Revenue was…
[ad_1] While the pound may be strengthening against the US dollar, with today’s employment report making for some mixed reading, the currency is struggling to find its feet against its other peers. According to data published by the Office for National Statistics (ONS), the UK unemployment rate held at a 42-year low of 4.2 percent…
[ad_1] The pace of wage growth without bonuses has slowed from 2.8 per cent to 2.7 per cent, while the ‘with bonuses’ reading has dipped from 2.6 per cent to 2.5 per cent. Slowing wage growth can mean reduced retail activity and lower consumer spending, which is part of the reason for GBP losses today.…
[ad_1] The Autorite de la Concurrence is looking into the competitive impact to assess its effect on the food sector, both for suppliers and consumers. Tesco and Carrefour have teamed up to jointly buy own-brand products and other items over a three-year period in a bid to negotiate better deals with suppliers. The regulator is…
[ad_1] AN investor in Docklands Light Railway and the Ministry of Defence HQ has emerged as a £1.4billion takeover target. [ad_2] Source link
[ad_1] 8.00am MORNING HEADLINES Good morning, and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime. Bitcoin is priced at $6,663 this morning with ethereum rising to $473 and ripple up at $0.47. The FSB has sent the crypto community a welcome boost after delivering a framework for…
[ad_1] The retailer has begun a consultation with affected staff after a review of its management structures found “inconsistent” structures across different regions with overlapping management roles. The cull includes 115 store, commercial and operations managers, 182 section managers and 54 visual managers, who prepare store displays. M&S said: “M&S is transforming and this is…
[ad_1] Institutional investments in cryptocurrency are helping to grow the industry, Coinbase Vice President and General Manager Adam White told CNBC. “What’s so unique about cryptocurrencies, and in many ways this asset class, [is that it] was driven by retail investors — not institutions,” White said on “Fast Money” Monday. So it was surprising that…
[ad_1] BlackRock, the largest asset manager in the world, on Monday reported second-quarter earnings and revenue that surpassed analyst expectations. The company also reported, however, a slowdown in inflows amid increasing market uncertainty. Here is how the company’s results fared compared with Wall Street estimates: Earnings: Adjusted $6.66 per share, vs $6.55 expected by Thomson…
[ad_1] Check out the companies making headlines after the bell: Netflix stock sank nearly 14 percent in extended-hours trading. Netflix only added 674,000 subscribers in the US during its second quarter, well below the analysts’ expectations of 1.23 million.The popular streaming service earned $3.91 billion in revenue, missing the analysts’ expectations of $3.94 billion. Shares…
[ad_1] The Bank of America cost-cutting machine hummed along for another quarter. The second-biggest U.S. lender said that second-quarter profit surged 33 percent to $6.8 billion, exceeding the $5.92 billion estimate of analysts surveyed by FactSet. Executives said it was the 14th straight quarter the company posted positive operating leverage, or increased profit by turning…
[ad_1] The “Options Action” traders share two options trading strategies to kick off the week. Carter Worth And Mike Khouw think Netflix is heading lower. Mike Khouw and Guy Adami recommend a put option in General Electric. Trader disclosure: On July 13, 2018, the following stocks and commodities mentioned or intended to be mentioned on…
[ad_1] Technology stocks are headed for a rough session on Tuesday after shares of Netflix, one of the momentum leaders of this bull market, tanked after earnings. Amazon shares fell as well. The Invesco QQQ Trust exchange-traded fund, which tracks the Nasdaq 100 index, dropped 0.7 percent in after hours trading. The Nasdaq 100 is…
[ad_1] Comcast is unlikely to make another bid for Twenty-First Century Fox‘s movie and television assets, focusing on a bid for Britain’s Sky television, sources told CNBC’s David Faber. CNBC parent Comcast was engaged in a bidding war with Disney over the Fox assets. Recently Disney threw some cash into its own bid, raising its…
[ad_1] Goldman Sachs will name President David M. Solomon to succeed Lloyd C. Blankfein as its next chief executive officer on Tuesday, sources familiar with the situation said. The news will be disclosed to all the company’s managing directors in a conference call Tuesday morning, according to the sources, who declined to be identified speaking…
[ad_1] BlackRock’s Larry Fink said Monday that he is concerned that the overall stock market is being driven up by just a few technology names. The S&P 500 has risen nearly 5 percent this year, but the lion’s share of that gain comes from a small number of technology stocks. Amazon, Netflix, Microsoft and Apple…
[ad_1] Bitcoin’s largest price surge in two weeks was caused by the announcement that BlackRock, the world’s biggest asset management company, is looking to invest in the cryptocurrency. Larry Fink, the chairman and CEO at BlackRock told Bloomberg: “We are looking at it and as I have said in the past, we are very excited…
[ad_1] Big banks continue to be a profitable group despite being immensely disliked on the Wall Street, CNBC’s Jim Cramer said Monday. “I think this group is hated,” Cramer said on “Squawk Box,” shortly after Bank of America reported better-than-expected second quarter earnings. “More hated than I’ve seen than any other time other than 2009…
[ad_1] The announcement is set to confirm Mr Solomon, 56, as the successor to Lloyd C. Blankfein, 63, after 12 years in the role ending months of speculation. Solomon joined Goldman as a partner in 1999 went on to became co-president in 2016, before being appointed as the firms sole president. The move allows Mr…
[ad_1] Bitcoin prices has soared as BlackRock CEO Larry Fink revealed that they were “studying it and we are looking at how they perform”. Larry Fink, the chairman and CEO at BlackRock told Bloomberg: “We are looking at it and as I have said in the past, we are very excited about blockchain technology. “That…
[ad_1] The number one cryptocurrency rose from $6,367 at 10.08am BST to $6,646 at 12.34pm BST, according to CoinDesk. What is behind the price rise? Bitcoin’s largest surge in two weeks was caused by the announcement that BlackRock, the world’s biggest asset management company, is looking to invest in the digital currency. Financial News said…
[ad_1] AMD’s new chips will boost the company’s profit margin in its third quarter, according to Stifel. The firm raised its price target for AMD’s stock to $21 from $17 and reiterated its buy rating for the company’s shares. The new price target is 29 percent higher than Friday’s closing price. On Thursday IDC said…
[ad_1] Blackledge reiterated his outperform rating and raised his price target to $2,100 from $2,000 for Amazon shares, representing 16 percent upside to Friday’s close. The analyst said the Prime Day promotions will increase the company Echo-device sales and Prime subscriber base. He noted Prime households buy on average about 3.5 times per month versus…
[ad_1] The cash will come from Royal Bank of Scotland as part of conditions attached to its £45billion Government bailout during the financial crisis. Smaller banks – such as Metro, Starling, TSB and CYBG – have been scrambling to prepare bids for the funding after the Government said the application process would launch in the…
[ad_1] The pound is holding steady against the euro this morning, with sterling sentiment still being buoyed by Donald Trump’s backtracking on Friday regarding the possibility of a post-Brexit UK-US trade deal. Speaking in a joint press conference with Theresa May, President Trump appeared more supportive of her Brexit proposals, suggesting he would back her…
[ad_1] The equity investment raise by the Devon-based designer and manufacturer will support product development and is being run by ethical specialist Triodos Bank on its new platform. Fishtek tackles bycatch, the accidental death or capture and eventual discard of species by fleets. Every year some 300,000 dolphins, porpoises and whales, 300,000 seabirds and 250,000…
[ad_1] The sports chain’s profits were dented in 2016-17 as it struggled to navigate sterling’s devaluation, but the retailer is expected to show signs of recovery when it unveils full-year results on Thursday. Sports Direct is forecast to post underlying profit after tax of £103.18million, climbing 55.1 percent from £66.5million the year before, according to…
[ad_1] The leading cryptocurrency started last week at $6,723 and a return to $7,000 was thought to be on the cards before a sharp fall that started in Tuesday took the price down to $6,155 on Thursday. However, having gained $290 and nearly 3 percent so far today, the boffins at Bloomberg now predict that…
[ad_1] The pound’s lack of movement today is once again down to Brexit-related concerns, with headlines dominated by the news that Justine Greening backed a second EU referendum vote. Ms Greening has added to Conservative voices criticising the current state of the Brexit process, declaring that there has been no significant progress of late: “The…
[ad_1] This follows the terrible toll poor-quality building work has on households. A new FMB report reveals 78 per cent of consumers support the introduction of licensing. Almost 90 per cent want the Government to criminalise incompetent and rogue builders, with 77 per cent of smaller firms wanting laws to professionalise their trade and protect…
[ad_1] 8.00am MORNING HEADLINES Good morning, and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime. Bitcoin is priced at $6,370 this morning with ethereum rising to $452 and ripple up at $0.44. It has been revealed that the world’s biggest asset management firm is looking at ways…
[ad_1] Europeans are flouting the trading clout they have. They, for example, don’t want to reduce their 10 percent import tax on U.S. automobiles to the 2 percent the U.S. charges on EU-originating motor vehicles. Put very briefly, Trump is wasting time trying to change the existing trans-Atlantic trading regime. He should simply tell the…
[ad_1] Goldman Sachs is expected to name its president, David M. Solomon, as its next chief executive early this week, according to people briefed on the plan. The announcement would formally establish Mr. Solomon as the successor to Lloyd C. Blankfein as one of the most powerful executives on Wall Street. Mr. Blankfein, who presided…
[ad_1] Bank stocks in the U.S. have been underperforming the broader markets this year — that’s set to continue unless those lenders start building up their capital again, said Dick Bove, Hilton Capital Management’s widely followed chief strategist. The veteran bank analyst made those comments after three major American banks kicked off the sector’s earnings…
[ad_1] A £250 quarterly standing order was set up for 93-year-old Keith Tucker with his supplier British Gas to save him the bother of remembering and was completed with his agreement. But his son, also called Keith, who has official permission to handle his affairs, was not aware it had been done and continued to…
[ad_1] The advertising guru said the past few months since his departure from the British multinational public relations company following allegations of misconduct have taken their toll. But Sir Martin, 73, said he needed to get back up and dust himself off, with his departure offering the chance for a fresh start to rebuild a…
[ad_1] Some people cannot afford to stop but others are becoming more entrepreneurial, setting up part-time business sidelines or earning extra cash online. One in 10 over-50s now hold down a second job or “side hustle” on top of their full-time role. They earn £326 a month on average, although four out of 10 say…
[ad_1] MR KIPLING owner Premier Foods could lose its chief executive Gavin Darby this week as rebel investor Oasis Management is confident it has enough shareholder support to oust him. [ad_2] Source link
[ad_1] GETTY The government is accelerating its bid to drive Britons into zero emission electric vehicles Yet at the same time, forward looking drivers are embracing the electric vehicle revolution, with so-called “alternative fuel vehicles” making up 6.6 per cent of all new car sales in June, up from 4.4 per cent the previous year,…
[ad_1] It has cut its UK growth forecast from 1.6 to 1.4 per cent for the year, which would leave the country suffering from its weakest growth since 2012. The think tank also trimmed its 2019 gross domestic product growth prediction, from 1.7 per cent to 1.6 per cent. Among the other factors that convinced…
[ad_1] The novel move to take out a unit in Birkenhead instead of Liverpool city centre has allowed Owen Drew Luxury Candles to turn a profit in its first year of trading. With a vegan bakery having moved into the unit next door, the industrial estate has become an unlikely shopping destination due to its…
[ad_1] The value books, gifts and toys chain, which operates from 447 stores, is defying wider retail gloom and sees up to 1,000 potential locations across the UK and Ireland. Chief executive Kevin Keaney, who has led the company for six years, described its turnaround a decade since falling into administration under previous ownership as…
[ad_1] J.P. Morgan Chase, the biggest U.S. lender by assets, posted record second-quarter profit of $8.32 billion, exceeding estimates as it posted stronger-than-expected trading results. Profit surged 18 percent, clobbering analyst estimates for a 9.4 percent increase. Earnings per share were $2.29 in the quarter, beating the $2.22 estimate. It was the 14th straight quarter…
[ad_1] Still, CEO Michael Corbat said in a statement that Citigroup “drove strong year-over-year revenue growth in many of our businesses – including our International Consumer franchise, Treasury and Trade Solutions, Equities, and the Private Bank. And we continue to support our clients as evidenced by solid loan growth that was balanced across businesses and…
[ad_1] The bank has been under pressure for several quarters because of multiple probes into its sales practices. Two years ago, the scandal burst into the public eye when it was disclosed that retail bank employees had created fake accounts in customers’ names to meet sales targets. Sales issues later emerged in other businesses, such…
[ad_1] Coinbase, the largest cryptocurrency exchange in the U.S., is considering adding five new tokens to its platform. The five digital coins include cardano, basic attention token, stellar lumens, Zcash and 0x. “It wouldn’t surprise me to see these things up 20, 30, 40 percent over the weekend,” digital trader Brian Kelly said Friday on…
[ad_1] Wall Street veteran Jeffrey Saut is sticking with his call that there are new all-time highs ahead for the stock market. “The major averages have kind of lulled investors to sleep, thinking the market hasn’t done much this year,” the chief investment strategist at Raymond James said on CNBC’s “Closing Bell” on Friday. However,…
[ad_1] President Trump continues his unorthodox approach to the presidency, upsetting some people, while others are left "numb" to his behavior, says Wall Street investor. [ad_2] Source link
[ad_1] Netflix’s stunning rally so far this year may be due for a breather, according to Deutsche Bank. The firm told its clients Thursday the internet video streaming giant could miss Wall Street’s second-quarter subscriber expectations next week. Netflix shares are the second best-performing member of the S&P 500 this year. It’s up 115 percent…
[ad_1] Shares of PNC Financial Services ended trading Friday up 0.2 percent after beating estimates in its second-quarter earnings report. The regional bank reported earnings of $2.72 per share, beating estimates from analysts surveyed by Thomson Reuters by 14 cents. PNC also posted better-than-expected revenue, bringing $4.32 billion, compared to $4.25 billion expected. PNC showed…
[ad_1] Ethan Miller | Getty Images Entertainment | Getty Images World Wrestling Entertainment Inc. Chairman Vince McMahon (L) and wrestler Triple H appear in the ring during the WWE Monday Night Raw show at the Thomas & Mack Center August 24, 2009 World Wrestling Entertainment shares triple-digit return so far this year has much more…
[ad_1] The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of Twitter Karen Finerman was a buyer of JPMorgan Brian Kelly was a buyer of the S&P Regional Banking ETF Guy Adami was a buyer of CBS Trader disclosure: On July 12, 2018 the following stocks and…
[ad_1] Getty Images Facebook CEO Mark Zuckerberg speaks during the F8 Facebook Developers conference on May 1, 2018 in San Jose, California. Facebook’s market leading position in the advertising market is unmatched, according to Jefferies. The firm raised its price target to $240 from $215 for Facebook shares, predicting its second-quarter sales results will be…
[ad_1] Chris Brightman of Research Affiliates says a simple equal-weighted strategy can do even better when combined with regular rebalancing. Rebalancing is essentially trimming stocks that have outperformed and buying those that have underperformed given a historical tendency for prices to revert to an average. In essence, Brightman added, it’s betting against the current Wall…
[ad_1] The bank’s recent charge may indicate that consumers are simply getting smarter with rewards programs, according to Bankrate.com chief financial analyst Greg McBride. In online forums devoted to credit-card usage, consumers boast about using spreadsheets and smartphone apps to stay on top of their credit. “There’s a subset of savvy credit-card users who are…
[ad_1] Evercore ISI Chairman Ed Hyman said he believes President Donald Trump’s tough trade stance is largely bluster and doesn’t pose a major threat to the global economy. “My view is that neither China nor the United States nor NAFTA want to commit suicide,” Hyman told “Squawk on the Street” on Friday. “This is part…
[ad_1] A FORESTED village in Jharkhand state, eastern India, Narotoli is home mainly to adherents of Sarna, a nature-worshipping tribal religion. In more ways than one, it has long been off-grid. Drive past a police checkpoint a few miles away and you are in territory loyal to “the guys”, a euphemism for Maoist guerrillas. That…
[ad_1] IN THE sixth episode of “The Apprentice”, a reality-television show first broadcast in 2004, Donald Trump, as always, fired a contestant vying for a job in his company. She was, he said, the worst negotiator. And she had failed to fight back when belittled by her teammate. The episode was entitled “Tit For Tat”.…
[ad_1] MERGERS of euro-area banks from different countries, a banker jokes, are “very much like teenage sex. There’s a lot of talk, but little action. And when it does happen, there’s a lot of disappointment.” In recent months gossip has linked each of France’s three biggest banks (BNP Paribas, Crédit Agricole and Société Générale), as…
[ad_1] AS AMERICA presses North Korea to abandon nuclear weapons, it has pointed to Vietnam as an example of the prosperity that awaits the isolated state. “It can be your miracle in North Korea as well,” Mike Pompeo (pictured), the secretary of state, said on July 8th, on a visit to Hanoi. It is not…
[ad_1] BEARS sound clever; bulls make money. This piece of financial acumen, imparted by a trader to a colleague, is hard to beat for brevity. It also makes a good point. There is something about market pessimism that endows bears with an aura of wisdom that is not always deserved. The cautious sound clever because…
[ad_1] IF A girl in a poor country goes to school, she will probably have a more comfortable life than if she stays at home. She will be less likely to marry while still a child, and therefore less likely to die in childbirth. So, not surprisingly, there is an Indian charity that tries to…
[ad_1] Deloitte said the latest closures will not impact the potential sale of the remaining business, adding that discussions with interested buyers are ongoing. The 80 stores will close over the weekend of July 20-22, leaving Poundworld with just 230 shops. Joint administrator Clare Boardman said: “Whilst we remain hopeful that a sale for part,…
[ad_1] The unknown investor has asked for a $1.2billion (£900 million) with Berkshire Hathaway that the price of a bitcoin will top the notorious crypto sceptic’s share price by 2023. Tom Waterhouse (@tomwaterhouse) broke the news on Twitter. He said: “Big Bet: Well known Crypto expert has just requested a bet of $8.5m AUD to…
[ad_1] THE owner of Jet2.com and Jet2holidays is flying high after growing demand for flights and package holidays put it on course for bumper annual profits. Shares in Dart Group hit a 9991⁄2p high, up 2591⁄2p, as it predicted pre-tax profit in the year to next March would be substantially ahead of expectations. [ad_2] Source…
[ad_1] Group revenue jumped 21.3 per cent in the three months to June 30, with UK sales up 8.3 per cent. B&M could look to take over some Poundworld sites, but only at lower rent. CEO Simon Arora said: “The business has performed strongly in the quarter despite demanding comparables of seven per cent like-for-likes…
[ad_1] This had been compounded by disruption to ships bringing made- to-order products from the Far East. The company now expects annual pre-tax earnings to come in below last year’s £82.4 million and believes the furniture retail market will be “challenging” over the next 12 months. Like-for-like sales at Dunelm’s stores fell by 4.6 percent…
[ad_1] But this means that this year’s sales growth will be towards the bottom end of its 25-30 percent range. Asos, however, remains on track to meet annual profit forecasts of just over £100 million, as it kept a tight rein on discounting. In the four months leading up to June 30, the retailer’s UK…
[ad_1] Mr Trump has spoken against the shift towards a ‘soft Brexit’ that would end with continued close ties to the EU. The President said in an interview that a soft Brexit could close the door to a US-UK trade deal. He said: “If they do a [soft Brexit] deal… we would be dealing with…
[ad_1] The pound has been placed on the defensive today as confidence in the Prime Minister’s Brexit proposals was further undermined following damning comments from President Trump. Speaking to The Sun newspaper, President Trump suggested the plans for the UK to retain close ties with the EU would ‘probably kill’ any potential of a UK-US…
[ad_1] 8.30am MORNING HEADLINES Good morning, and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime. Bitcoin is priced at $6242 this morning with ethereum at $437 and ripple down at $0.44. The future of cryptocurrencies in India looks to be moving closer to resolution with Indian Quartz…
[ad_1] They say discerning drinkers can always be relied upon to select a fine single malt. But these days the benefits of Scotch whisky are about far more than just the measure. Now those with a liking for the finer things in life can tempt their taste buds at the same time as possibly boosting…
[ad_1] US cable giant Comcast responded within hours with a £14.75-a-share offer, which was recommended by Sky’s independent directors. Comcast said: “We have long admired Sky and believe it is an outstanding company and a great fit. This announcement further underscores our belief and commitment to owning Sky.” New culture secretary Jeremy Wright confirmed the…
[ad_1] Joshua Roberts | Reuters Chief Executive Officer of AT&T Randall Stephenson (L) and Chairman and Chief Executive Officer of Time Warner Jeffrey Bewkes listen to testimony before the Senate Judiciary Committee Antitrust Subcommittee hearing on the proposed deal between AT&T and Time Warner in Washington, U.S., December 7, 2016. Check out the companies making…
[ad_1] After financials report Friday, the S&P 500 is likely to pass the 2,800 mark, investor Steve Grasso told CNBC. “Prior to tomorrow’s opening, when you get these companies that should perform pretty well, you should see the market overtake that 2,800 level,” Grasso, director of institutional sales at Stuart Frankel, said Thursday on “Closing…
[ad_1] For many years sellers have had the upper hand as demand outstripped the number of homes available. But in a “tightening market” for sellers, stock for sale across the UK rose 10 per cent year-on-year last month, making it the highest June total of new instructions since 2011. The biggest increases were found in…
[ad_1] There are a lot of positives right now for the banking industry, yet the stocks aren’t responding — and that’s a signal for investors, market expert Quint Tatro told CNBC on Thursday. Bank equities have underperformed this year despite a strong economic recovery, the managing director at Joule Financial pointed out. Also, short interest…
[ad_1] The tit-for-tat trade war between the United States and China is not likely to cause a recession, according to MKM Partners, a Wall Street equity research and trading firm. The growing conflict between two of the world’s largest economies is not enough to spark a major downturn because that can only start when demand…
[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., on Wednesday, June 13, 2018. Federal Reserve Chairman Jerome Powell said the economy is “in a good place,” but that an escalation in…
[ad_1] This year has already been remarkable for the stock market because the moves seen in 2018 are unlike any in the past, according to an analysis by Bespoke Investment Group. Bespoke said in a note Wednesday that the correlation between S&P 500 closing prices in 2018 and that of previous years is dramatically lower…
[ad_1] A further escalation of the trade war with China will significantly hurt Fossil’s financial results, according to Wells Fargo Securities. On Tuesday the Trump administration announced a list of tariffs on $200 billion in Chinese goods, making good on the president’s recent threats to broaden a trade war with Beijing. The firm reiterated its…
[ad_1] A J.P. Morgan Chase whistleblower will receive about $30 million for providing crucial information to a successful Commodity Futures Trading Commission investigation into the biggest U.S. bank. The award was the largest in the history of the program, the CFTC said Thursday in a statement. It disclosed little else about the case, saying that…
[ad_1] Bridgewater Associates’ Ray Dalio, the founder of the world’s largest hedge fund, is analyzing the social and financial viability of a widely debated program aimed at reducing the wealth inequality. Tweet Link “Universal Basic Income is one of several ideas floating around for dealing with the income/opportunity gap,” Dalio wrote in a LinkedIn blog…
[ad_1] “They trade at a stock price multiple with high shareholder expectations to deliver extraordinary growth,” he said. “And when they look internally at their own business plans, they have doubts on delivering what their stock multiple is implying.” That hunger for growth will continue to drive a record year in mergers, the 30-year J.P.…
[ad_1] Despite a sluggish cryptocurrency market, stock trading app Robinhood is adding two new digital currencies to its platform. The company will add Litecoin and Bitcoin Cash to its no-fee app, which already lets users trade bitcoin and ethereum. “Since we launched Robinhood Crypto in February, our customers have voiced interest in buying and selling…
[ad_1] One Wall Street firm said the change in strategy to buy a software company versus its historical pattern of purchasing semiconductor companies will hurt management’s standing with investors. “CA is a legacy software company that specializes in mainframes – shared synergies are not obvious,” Nomura Instinet analyst Romit Shah said in a note to…
[ad_1] The “Fast Money” traders shared their first moves for the market open. Tim Seymour is a buyer of Canopy Growth Karen Finerman is a buyer of Delta Steve Grasso is a buyer of General Electric Guy Adami is a buyer of Pfizer Trader disclosure: On July 11, 2018 the following stocks and commodities mentioned…
[ad_1] Corporate executives discussing their financial performance on their quarterly earnings calls used “Fortnite” a total of 54 times during the past earnings season, according to analysis by business news site MarketWatch of transcripts collected by FactSet. That topped the 45 times executives mentioned “bitcoin” or other cryptocurrencies in those calls. Fortnite is a multiplayer…
[ad_1] President Donald Trump‘s latest tariff plans sent the market into negative territory on Wednesday. But Tony Dwyer, chief market strategist at Canaccord Genuity, told CNBC that investors shouldn’t worry about trade tensions or tariffs. “The market moves with the direction of earnings,” Dwyer said Wednesday on “Fast Money.” “As long as the economy is…
[ad_1] Members of the Federal Reserve are telegraphing two more rate hikes this year, with Federal Open Market Committee voting member Loretta Mester on Wednesday repeating the central bank’s expectation for the next six months. “The economy can certainly handle two more increases this year,” Mester, the president of the Cleveland branch of the Fed,…
[ad_1] ECONOMISTS think prices, like spilt ketchup, are sticky. They move only slowly as firms digest economic conditions. Financial markets are an exception. Computerised trading by thousands of participants means prices, especially of currencies, can move in a McFlurry. Since The Economist last updated the Big Mac index (BMI), our lighthearted guide to currency valuation,…
[ad_1] This document is expected to provide a definitive picture of what the UK government wants at the end of Brexit negotiations. Analysts predict a particular focus on forming international trade deals. Speaking before the document is released, new Brexit Secretary Dominic Raab said: “This government is determined to make sure the UK is ready…
[ad_1] He said Theresa May had “made the mistake of prioritising a ‘deal’ with the unelected EU representatives, which they have little incentive to accommodate, rather than a sensible implementation of Brexit in areas under the control of parliament”. He said that fishing rights and financial contributions need no agreement from a third party. Wetherspoon…
[ad_1] More than 34 percent of votes were cast against the remuneration report at its AGM in Edinburgh, which included the payout for Patterson. His £1.3million bonus on top of a £997,000 basic salary drew criticism because the company had admitted a “need for change” at the top following a disappointing financial and share price…
[ad_1] The pound is trading in a narrow range against the US dollar and the majority of its other peers this morning as GBP investors await the release of a long-awaited white paper outlining the UK government’s blueprint for Brexit. The government promises the paper will lay out a ‘comprehensive vision’ for the UK’s future…
[ad_1] The luxury brands group, whose fashions are worn by the likes of Cara Delevingne and Paris Jackson, said sales in the 13 weeks to June 30 were up 3 per cent on last year. A weaker performance in the UK and Europe was offset by growth in Hong Kong, Korea and Japan as currency…
[ad_1] Completions were up 184 to 17,579, with the average selling price for private homes rising by 5.1 percent to £329,000. Barratt has enjoyed stronger than expected recent trading in central London. Barratt Developments intends to pay an ordinary dividend based on 21/2 times dividend cover. It also plans to pay special dividends of £175m…
[ad_1] 8.00am MORNING HEADLINES Good morning, and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime. Bitcoin has slumped again overnight, falling to $6,211 at the time of press with ethereum at $426 and ripple down at $0.43. Following on from Noah Smith at Bloomberg outlining the three…
[ad_1] This trumps a £12.50-a-share offer tabled in April by US cable giant Comcast, which valued Sky at £22billion. Fox’s initial proposal in December 2016 was worth £10.75-a-share. Fox is expecting to get final Government clearance for a takeover this week, having faced a lengthy probe amid concerns over Murdoch holding too much control over…
[ad_1] One business leader said summons are being “hastily issued” as owners risk being penalised. Freedom of Information requests revealed nearly 130,000 high street shops, pubs and other firms were hauled into magistrates courts. Martin McTague, policy chairman at the Federation of Small Businesses, said: “Bureaucrats should be getting behind striving small firms and finding…
[ad_1] It's clear now that President Trump is not bluffing in his trade negotiations, says analyst. The Trump administration announced another round of tariffs Tuesday, causing the market to fall the following day. [ad_2] Source link
[ad_1] The “Fast Money” traders shared their first moves for the market open. Pete Najarian was a buyer of Constellation Brands. Brian Kelly was a buyer of Consumer Staples. Dan Nathan was a seller of the Russell 2000 ETF. Tim Seymour was a buyer of Amgen. Trader disclosure: On July 10, 2018 the following stocks…
[ad_1] The rapid gains in those stocks dwarf that of the broader market, which has labored under a resurgence of volatility and fluctuating trade war fears. The S&P 500 is up only 3.79 percent so far this year and 14.4 percent over the last 12 months. The growing trend appeared to give J.P. Morgan Chase’s…
[ad_1] But the more devastating impacts of pedal-to-the-metal digital capitalism fall on the environment and global poor. The manufacture of some of our computers and smartphones still uses networks of slave labor. These practices are so deeply entrenched that a company called Fairphone, founded from the ground up to make and market ethical phones, learned…
[ad_1] Rick Burnett, chief executive of LaneAxis, said bitcoin will continue to lead digital markets even if it does not remain to be the top global cryptocurrency. Speaking to Express.co.uk from the Cryptocompare MJAC Blockchain Summit, Mr Burnett said: “I don’t know if it’s going to be on top but it is always going to…
[ad_1] A new investment fund backed by song royalties has revealed that huge hits by Justin Bieber, Beyonce and Rihanna will form part of its first catalog. Hipgnosis Songs Fund, which was listed on the main market of the London Stock Exchange (LSE) on Wednesday, plans to build a portfolio of songs that generate a…
[ad_1] Despite payment company Square‘s recent moves with bitcoin, the growth of its mobile payment app has been immune to the cryptocurrency’s price nosedive, according to Nomura Instinet. Square Cash, which officially launched crypto trading in late January, has been able to “decouple” from bitcoin and is growing roughly three times faster than Paypal’s Venmo,…
[ad_1] Sonos, the maker of wireless and voice recognition speakers, may seem to a casual observer to be in the prime position to ride the surging smart speaker trend. But Sonos’ initial public offering document revealed a critical flaw in its business model, which subjects it to Amazon’s whims on what the internet giant decides…
[ad_1] Rising trade tensions have kept investors in some of the largest financial markets on edge. The S&P 500 is up just 1.6 percent for the year. In Europe, the Stoxx 600 index has declined 0.8 percent. The Japanese Nikkei 225 index is also down more than 2 percent. These losses pale in comparison to…
[ad_1] In the construction industry where SMEs are expected to fund work up front and late payment is a persistent issue, this is a particular problem. Customers will get an extended interest-free credit period of up to 116 days* for all purchases made at the initial participating companies. They can also benefit from up to…
[ad_1] After the White House’s latest threat of tariffs on billions of dollars of Chinese goods, officials in Beijing are looking to “hit back in other ways,” according to a report by the Wall Street Journal. On Tuesday, the Trump administration made good on the president’s recent threats to escalate a trade war with a…
[ad_1] Instead of toilets and sinks being discarded post-production and old glass all ending up in landfill, the company’s founders Dr Alasdair Bremner and Professor David Binns have now developed a patented process that recycles them into a new material, SilicaStone. The innovation’s breakthrough has been to create the technology from the two different industries.…
[ad_1] Bitcoin, the world’s leading cryptocurrency by market capitalisation, multiplied more than 13 times in price in 2017, but crashed from over $19,000 in December to $6,360 today at time of press. With bitcoin expected to continue heading south in value and investors looking for a bargain, Jamie Smith-Thompson, Managing Director of Portafina, told Express.co.uk…
[ad_1] Sainsbury’s – which is pressing ahead with a £12 billion takeover of Big Four rival Asda – said Mr Scicluna will initially join the board as chairman-designate and non-executive director from November 1 this year and “work closely” with Mr Tyler for a handover before taking over at the helm around next March. Mr…
[ad_1] Sky’s independent committee has agreed to Fox’s raised bid, with all eyes now on Comcast’s next move amid expectations it may improve its £22 billion offer. Fox is hoping to see off competition from Comcast after a long battle to buy the remaining 61% stake in Sky it does not already own, having faced…
[ad_1] Instead of toilets and sinks being discarded post-production and old glass and all ending up in landfill, the company’s founders Dr Alasdair Bremner and Professor David Binns have now developed a patented process that recycles them into a new material, SilicaStone. The innovation’s breakthrough has been to create the technology from the two different…
[ad_1] Asheesh Birla, Vice President of Product at Ripple said that the firm is plotting its path to bitcoin-beating world domination by looking at the emerging economy of India and the one billion people using mobiles for banking. Speaking at the panel on Scaling and Digital Disruption in Fintech, the Vice President of Product at…
[ad_1] There has not been much UK economic data released today, so the latest pound US dollar exchange rate gains are down to yesterday’s supportive UK GDP stats. Tuesday’s initial GDP data came from the Office for National Statistics (ONS), which unveiled its first monthly reading for May. Compared to previous, quarterly, data, this was…
[ad_1] This week, founder Chris Edwards has failed to rescue 186 stores along with 3,000 jobs. Deloitte, which is overseeing the process, said talks are continuing with interested parties. Joint administrator Clare Boardman said: “While we remain hopeful a sale for part of the business can still happen, it has not been possible to sell…
[ad_1] Shares in the FTSE 250 firm crashed 151p to 269¼p as it slashed its target for annual cost savings from £100million to £75million. Underlying profit will by squeezed by extra charges of about £10million relating to Brexit, IT security, regulatory and legal costs. Chief John Phizackerley has been replaced by head of global broking…
[ad_1] The resignation of Cabinet members Boris Johnson and David Davis drove significant volatility in Sterling at the start of this week’s session, prompting substantial concerns among euro investors. However the political crisis quickly abated, with the pound rallying on Tuesday as Theresa May avoided a leadership contest, while analysts began to suggest that the…
[ad_1] Booker was the UK’s largest food wholesaler when it was taken over by Tesco. Tesco said that he was diagnosed after having his tonsils out in April. He has responded well to treatment but needs to “remain vigilant in his recuperation”. “Following an operation to remove his tonsils in April of this year, Charles…
[ad_1] 8.30am MORNING HEADLINES Good morning, and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime. Bitcoin is priced at $6,337 this morning with ethereum falling to $434 and ripple down at $0.44. Ealier this week, Nobel Prize-winning economist Joseph Stiglitz claimed that digital currencies will be “regulated…
[ad_1] It anticipates additional management incentive charges of about £9million. Shares gained 91½p to 1103p despite the company slipping to a £9million half-year pre-tax loss compared with a profit of £7.7million last time after investing in warehouses and IT. Revenue was up 11.7 per cent to £736.6million. Chief Tim Steiner said: “This is a transformational…
[ad_1] But the fact that bitcoin has established use cases is what gives it the competitive advantage over other cryptocurrencies, Smith said. Last fall, when bitcoin futures were announced, “people got very excited about bitcoin,” he said. “They got really excited about all these other tokens and use cases. And all of the sudden you…
[ad_1] James Emson, president of NAVA Property mark, warned there is no backing out once your bid is accepted. While some people wriggle out when bidding on eBay, this does not apply at a proper auction house. “You could face huge costs or be taken to court,” he said. Rules governing refunds for items bought…
[ad_1] Emma Grimster, spokesperson at TravelSupermarket.com, said many people leave buying holiday essentials until the last minute but they should still shop around and compare prices. “We calculate a typical family could overpay by up to £1,137 on holiday essentials such as travel insurance, car hire and foreign currency if they don’t,” she said. For…
[ad_1] Banks and building societies have traditionally been reluctant to lend into retirement, so it can be tough to get affordable finance or benefit from best-buy deals. Aegon pensions director Steven Cameron said: “Inflated property prices mean that those getting onto the property ladder are doing so at later ages and are borrowing more for…
[ad_1] He personally invested £40million in S4 as part of a £51million fundraising and has a further commitment for another £150million to fund acquisitions. Backing for the MediaMonks deal is understood to have come from other investors and HSBC in a loan. MediaMonks has revenues of about ¤110million (£97million) and operates in 10 countries including…
[ad_1] Amazon may have a run for its money with big-box retail chains Walmart and Target, investor and author Kevin O’Leary told CNBC. “If you look at behemoth big boxes that are going to survive the next decade against Amazon, I would put Walmart in that basket, along with Target,” O’Leary said Tuesday on “Closing…
[ad_1] Check out the companies making headlines after the bell on Tuesday: Shares of AAR Corporation lost more than 5 percent in the extended session, after the aviation and expeditionary services provider reported mixed fourth-quarter earnings and revenue. AAR reported earnings per share of 54 cents, beating analysts’ estimates of 51 cents. The company missed…
[ad_1] “The tit for tat continues, but ultimately it doesn’t lead to a full-blown trade war,” El-Erian said. “When people realize that at the end of the day, the U.S. will prevail, because [China] is a less open economy, because [the U.S.] is a more dynamic economy, that ultimately you may end up in a…
[ad_1] Investors should sell Chipotle Mexican Grill shares given a lack of clear innovation in the near-term, according to one analyst, and limit any upside for the already recovered stock. Mizuho downgraded the burrito chain’s stock to underperform from neutral Tuesday, encouraging clients to curb exposure until it’s clear chief executive Brian Niccol can replicate…
[ad_1] The Supreme Court’s ruling that gives states more power to collect sales tax from online transactions will hurt eBay’s business, according to SunTrust Robinson Humphrey. The firm lowered its rating to hold from buy for eBay shares, predicting the additional tax compliance requirements will drive sellers away from the online auction platform. Last month…
[ad_1] The recent drop in Twitter’s stock is a great buying opportunity, according to J.P. Morgan. The firm reiterated its overweight rating for the social media company’s stock, downplaying the impact of Twitter pruning fake accounts. On Friday after the market close the Washington Post reported Twitter was ramping up its efforts in closing fake…
[ad_1] The “Fast Money” traders shared their first moves for the market open. Pete Najarian was a buyer of Ameriprise Financial. David Seaburg was a seller of Twitter. Dan Nathan was a seller of Facebook. Tim Seymour was a buyer of Twitter. Trader disclosure: On , the following stocks and commodities mentioned or intended to…
[ad_1] The latest earnings season is under way and technology and bank companies are expected to report strong quarterly results, according to strategists at Credit Suisse. Excluding tax benefits, second-quarter earnings for companies in the S&P 500 technology sector are forecast to have risen by 19.9 percent, the bank found. Profits in financials, meanwhile, are…
[ad_1] Morgan Stanley gave trading chief Ted Pick added responsibilities over investment banking activities, including merger advice, in a sign he is a leading contender to eventually succeed Chief Executive Officer James Gorman. Pick, 49, will become head of the institutional securities group, reporting to Morgan Stanley President Colm Kelleher, according to a Tuesday memo…
[ad_1] Apple‘s move into augmented reality could boost iPhone and App Store sales, resulting in as much as $8 billion in revenue for the tech giant, according to Bank of America Merrill Lynch. “We think AR apps will command a price premium,” Wamsi Mohan, senior equity research analyst at Bank of America Merrill Lynch wrote…
[ad_1] Scott Eells | Bloomberg | Getty Images Seth Klarman, founder of the Baupost Group Hedge fund manager Seth Klarman’s classic investment book “Margin of Safety” is being sold illegally on Amazon’s e-book platform. On Tuesday Klarman’s firm Baupost said the book listing on Amazon was not legitimate. “The Kindle version of Margin of Safety:…
[ad_1] The number of small business that aren’t able to find enough workers has matched the highest level ever recorded. The percentage of small companies not able to fill open positions hit 36 percent in June, according to the NFIB Research Center, matching the survey’s record high set in November 2000. (The data goes back…
[ad_1] Tinkler had called for Mr Ferguson not to be re-elected on Friday but the chairman secured 51.2 percent of the votes. Tinkler was voted back on to the board after a floor resolution was passed by shareholders, but was almost immediately sacked by Mr Ferguson and the board. Mr Ferguson said it was not…
[ad_1] The firm, which has a total 335 stores and employs around 5,100 people, went into administration on June 11, with Deloiite attempting to secure a buyer for the business since. But a memo from the professional services firm, seen by the Press Association, said: “As previously advised, the administrators have been preparing contingency plans…
[ad_1] The retailer’s new strategy has already seen it drop prices on 2,000 items, with an average saving of 15%. It plans to lower prices on more products later in the year. Parent group Kingfisher, which comprises a host of DIY brands including B&Q and Screwfix, has unified the buying functions across its divisions, helping…
[ad_1] IMPROVED clothing ranges and tight stock management helped Matalan defy high street gloom with higher quarterly sales. The retailer lifted revenue 4.9 per cent to £265.9million after 39 per cent online growth and sales rose at its 227 UK outlets. [ad_2] Source link
[ad_1] Mr Coleman oversaw a restructuring and recapitalisation of the bank, rescued by hedge funds after a £1.5billion black hole in its accounts in 2013. Mr Bester said: “Over its recent history the bank has been through a period of great change and uncertainty and I look forward to working with the teams to return…
[ad_1] China’s central bank has confirmed that the buying and selling of bitcoin in RMB has fallen from a peak of 90 percent of the world’s total to less than 1 percent since September 2017. Experts in China fear losing control over the rapidly emerging cryptocurrency market that took on extra growth and volatility at…
[ad_1] This has left the pound euro exchange rate trading at €1.130. The new pairing is not a weekly high but better than yesterday’s current weekly low of €1.124. Today’s Sterling appreciation is mainly due to currency traders’ belief that there will not be an imminent challenge to Prime Minister Theresa May’s leadership. Such a…
[ad_1] However, the pairing is still down over half a cent from yesterday’s best levels in the wake of the UK’s political turmoil. The pound started today’s session on an uneasy footing after the resignation of both David Davis and Boris Johnson rocked the currency on Monday. The departure of two of Theresa May’s most…
[ad_1] Burst river banks and the mass evacuation of people in China hit bitcoin’s “hash rate” this week, causing alarm on social media after mining stuttered and slowed. The slowing of bitcoin’s hashrate points to the concerning dependency of cryptocurrencies on China’s miners, and how extreme weather, war or a government clampdown could smash the…
[ad_1] Singapore’s state investment firm Temasek Holdings said Tuesday the value of its portfolio jumped above 300 billion Singapore dollars for the first time ever. The company said the size of its portfolio grew to 308 billion Singapore dollars ($235 billion) in the year ended March 31, representing a 12 percent increase year-over-year in local…
[ad_1] 8.15am MORNING HEADLINES Good morning, and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime. Bitcoin is priced at $6,598 this morning with ethereum falling to $462 and ripple down at $0.46. Daniel Krawisz Nakamoto Institute co-founder and self-described (on Twitter) “Emperor of Bitcoin” is reported by…
[ad_1] As more and more companies ditch plastic straws, food distributors are looking for environmentally-friendly alternatives. The most obvious choice is paper straws, but they are expected to cost substantially more. “You’re looking at maybe ten times the cost,” Adam Merran, CEO of PacknWood, a food service products company, told CNBC on “Closing Bell” Monday.…
[ad_1] Chris Edwards, who started the business on a Wakefield market stall in 1974 before selling a majority stake to US private equity firm TPG Capital in a £150million deal three years ago, had tabled a deal to save 186 stores, along with 3,000 jobs. But despite contacting the administrator four weeks ago, Edwards’ team…
[ad_1] From the first quarter of 2016 through the first quarter this year, the four biggest U.S. banks gave away $145 billion in net share buybacks and dividends, while the 10 biggest domestically owned regional banks gave away $40 billion, the two biggest investment banks gave away $28 billion and the three biggest trust banks…
[ad_1] The market is underestimating the risk of a trade war and will likely see a correction once it is confronted with “cold water in the face,” Guggenheim Partners’ Scott Minerd warned on Monday. “Investors are just ignoring the consequences and what’s going to have to be done in terms of Federal Reserve policy to…
[ad_1] Simon Dawson | Bloomberg | Getty Images An employee restocks clothes on display at the Lululemon Athletica sports apparel store on Regent Street in London. So far, the Trump administration has placed no new duties on retail items such as apparel and electronics — something market watchers have awaited in fear. “China [is] still…
[ad_1] Wharton School finance professor Jeremy Siegel sees hope for the stock market in the latest jobs report, which he calls a “blockbuster.” Siegel, a longtime bull who has recently turned cautious, told CNBC that Friday’s report had the “best possible outcome” — strong job growth, a rise in the participation rate and less pressure…
[ad_1] Check out the companies making headlines after the bell: Shares of Paccar were up as much 2.5 percent in extended-hours trading, before pairing those gains. The truck manufacturing company announced a $300 million share repurchase of its outstanding common stock. Paccar’s shareholders have seen an average return of 12.5 percent over the last 15…
[ad_1] Michael Nagle | Bloomberg | Getty Images A monitor displays Procter & Gamble Co. signage on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Monday, May 15, 2017. Procter & Gamble’s profitability will suffer because of rising commodity costs, according to Jefferies. The firm lowered its rating for…
[ad_1] Scott McIntyre | Bloomberg | Getty Images An employee delivers cases of Coca-Cola Co. brand soda in Miami Beach, Florida. With the S&P 500 not far from the firm’s 2018 year-end target, Goldman Sachs says there is still an investment strategy that can outperform. The firm recommended companies with high and stable profit margins.…
[ad_1] That could mean value investing, which has been in the doldrums during the current strong run-up in tech stocks, could be about to come back in style. Investors just have to hang in there long enough. Robert Buckland of Citi Research said in a note to clients on Wednesday that as a bull market…
[ad_1] Their moves and shameful refusal to call off the hunt caused shock and much misery to the Spare family whose adult son Thomas is partially sighted and relies on a wheelchair as well as a Motability vehicle driven by his carer. “It seems totally iniquitous that he should be pursued so long after an…
[ad_1] Nevertheless, despite signs of apparent agreement on Brexit after a Cabinet meeting on Friday, David Davis has since resigned as Brexit Secretary. A replacement Brexit Secretary is due to be announced shortly, but the resignation has still highlighted just how divided the Cabinet is over the type of exit from the EU the UK…
[ad_1] Mr Davis’s resignation occurred just days after Theresa May’s cabinet appeared to reach an agreement over her proposals for the UK’s Brexit blueprint. Friday’s agreement will see the UK government propose the creation of a ‘UK – EU free trade area’ with a ‘common rulebook’ for all goods traded after Brexit. It appears that…
[ad_1] The move is the latest in its mission to help revive Britain’s shrunken textile industry. A £3million investment by the family-owned company will extend its in-house production by opening a high-tech hub later this year, a development also capable of handling new collaborations with other designers and producers. “This move will create jobs and…
[ad_1] Luxury fashion brand David Nieper, one of the few still making in the UK, was one of those. But its managing director Christopher Nieper says for his firm the levy has turned out to be a tax on jobs and is failing to plug the skills gap. Only major reform, he believes, can create…
[ad_1] Joseph Stiglitz, the former chief economist of the World Bank has warned the crypto community central banks have not yet clamped-down on bitcoin and other leading coins because the market is still relatively small. The Columbia University professor told Financial News that once crypto “becomes significant” they will “use the hammer”. He said: “People…
[ad_1] A new report from US-based cybersecurity firm CipherTrace shows how cryptocurrency exchanges are becoming a soft target for hackers and cyber criminals with the direct theft of coins already soaring to three times the amount in the first half of 2018 compared to the levels recorded for the whole of 2017. The report, which…
[ad_1] The “Options Action” traders share three options trading strategies to kick off the week. Carter Worth and Mike Khouw like American Express. Brian Stutland recommends a call option in Pepsi. Mike Khouw recommends a call spread in WWE. Trader disclosure: On July 6, 2018, the following stocks and commodities mentioned or intended to be…
[ad_1] 8.00am MORNING HEADLINES Good morning, and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime. The cryptocurrency community is cautiously optimistic over an extended period of recovery as the price held within $6,700 while ethereum peaked at $498 and ripple hit $0.48. Further support for crypto heading…
[ad_1] The group was catapulted into the FTSE 100 for the first time last month after seeing its share price rocket more than 260 per cent over the past year following a string of deals – most recently signing up US giant Kroger in May. It has struck similar agreements in Europe and beyond, and…
[ad_1] The real economic toll on Cleveland could be a loss of money from tourists traveling to see one of the best players in the league. In 2015, Cleveland visitors spent $5.4 billion, with $1.3 billion in food and beverage sales alone, and recreation and entertainment brought in $1 billion, according to Destination Cleveland, the…
[ad_1] GETTY GRIEF: Benefit may not clear family debt The average benefit is just one to two years salary, or between £27,600 and £55,200 for the average worker. This may not stretch far enough because even a £55,200 payout would leave a shortfall of £66,478 on the average UK mortgage of £121,678, according to figures…
[ad_1] Last week WPP sent a letter to Sorrell accusing him of breaching his contract and said that it would block payment of £20 million of shares that it allowed him to keep when he left the firm. The letter claims that Sorrell used information about one of WPP’s takeover targets, which he obtained from…
[ad_1] The trade body, which represents British food and drinks manufacturers, said that it appears “the worst is over” and that the supply chain should return to normal over the next two to three weeks. CO2 supplies across Europe have been in short supply due to scheduled maintenance and repair works at plants that have…
[ad_1] GETTY There was a 45 per cent increase in misuse cases during the last tax year Growing numbers who signed a Lasting Power of Attorney (LPA) to give friends or family control over their affairs in case of dementia or Alzheimer’s have had their finances mishandled. There was a 45 per cent increase in…
[ad_1] The bank is to take 15 UK-based small to medium sized enterprises (SMEs) that produce mother and baby products to Shanghai to network and do business. The delegation will attend the Children Baby Maternity Expo, which is taking place on July 25 to 27, as well as meet with local retail groups such as…
[ad_1] The findings from the report compiled by former Iceland boss Bill Grimsey make for grim reading. Without urgent reform of business rates, which are levied on the value of the property that is occupied by a firm, 40,000 jobs could be lost as a result of increased closures of shops, restaurants and other high…
[ad_1] Gatwards of Hitchin has been finding brides-to-be the perfect engagement ring and gentlemen elegant watches from the same shop in the Hertfordshire town since it was opened by James Gatwood in 1760. However manager Charlotte McCrossin, the eighth generation at the helm, says even such a well-established firm has felt the pinch of the…
[ad_1] But the company announced that votes were still being counted and a verdict would not be delivered on Friday. Tensions have built over the past few months at the £810million mini-conglomerate, a biomass supplier and provider of engineering and management services to customers such as Network Rail. It is the former holding company of…
[ad_1] The Trump administration’s tariffs might hurt the car and truck industry more than help, auto industry veteran Jim Press told CNBC. “The reality is that tariffs normally don’t go away once they’re enacted,” Jim Press said on “Closing Bell” Friday. “It’s not a negotiating tactic. And it causes a great deal of uncertainty in…
[ad_1] Biogen shareholders are rejoicing over a clinical trial’s positive results. Shares of the biotech company were up 19.6 percent Friday, a day after Biogen and Tokyo-based Eisai announced positive results from a Phase II study with BAN2401, an anti-amyloid beta protofibril antibody, in 856 patients with early Alzheimer’s disease. The stock move added more…
[ad_1] Steven Cohen is having a tough time getting U.K. financial regulators to give him a second chance in that country. The billionaire recently opened his Point72 hedge fund to outside investors in the U.S., but British securities regulators won’t let Cohen open the fund to U.K. investors, according to a report in the FT,…
[ad_1] States won by President Donald Trump in the 2016 election stand to lose the most as a trade war between the U.S. and China kicks off, according to Citigroup research. The U.S. officially implemented tariffs on $34 billion worth of Chinese imports, including water boilers, airplane tires and X-ray machine components. China responded with…
[ad_1] Those seeking protection against an intensifying trade war between the United States and its economic allies should buy shares of domestic, consumer-facing companies, according to investors. Utilities — classic defensive plays with domestic-only markets — could also benefit if this is a prolonged conflict, some said. Others are sticking with the hot small cap…
[ad_1] The “Fast Money” traders shared their first moves for the market open. Pete Najarian is a buyer of KKR & Co Steve Grasso is a buyer of Alibaba Karen Finerman is a buyer of United Rentals Tim Seymour is a seller of the iShares MSCI Mexico ETF Trader disclosure: On July 5, the following…
[ad_1] Andrew Harrer | Bloomberg | Getty Images A spotter lines up a truck before a container is loaded a ship in the Seagirt Marine Terminal at the Port of Baltimore in Baltimore, Maryland. The monthly trade deficit is at its lowest levels during the Trump presidency. On Friday the Commerce Department revealed that the…
[ad_1] Companies buying massive amounts of their own shares may be a key reason why certain sectors are doing better than others in the nine-year bull market for stocks. On Monday, Yardeni Research said technology companies bought back $1 trillion worth of their shares since the beginning of the bull market in the first quarter…
[ad_1] Gemini Trust, the cryptocurrency exchange founded by brothers Tyler and Cameron Winklevoss, named NYSE’s top technology executive to be its first chief technology officer, another sign the wild west digital currency sector is moving more mainstream. Robert Cornish was NYSE’s chief information officer, a role that oversaw the Big Board’s ongoing electronic trading overhaul.…
[ad_1] GETTY Pensioners spend just five years in good health following retirement research revealed An international study across 10 countries found older people can expect to enjoy themselves for about half a decade – before age-related illnesses take their toll. It brings to light a much greater ‘unhealthy life years’ figure than commonly accepted. It…
[ad_1] Yesterday started off well for the pound, with Bank of England (BoE) Governor Mark Carney lifting the mood of investors in remarks made during a speech in Newcastle. Referring to recent economic data Mr Carney said the Q1 weakness was mostly down to the weather, adding that consumer spending had “bounced back strongly” since.…
[ad_1] Bitcoin’s highest point this week of $6,710 is 13 percent up on its lowest point of $5,858 and optimism is very much in the air with ethereum recovering from a low of $412 to hit a high of $482 a 14 percent rise, and ripple moving from a low of $0.43 to hit a…
[ad_1] Prime Minister Theresa May will meet with her Cabinet at the Chequers country estate today as she seeks approval for her blueprint for the UK’s post-Brexit relationship with the EU. Pro-Brexit ministers are expected to push back hard against any suggestions of the UK accepting EU regulations in some sectors in order to secure…
[ad_1] Don’t write crypto off yet is the message from leading figures in the cryptocurrency community as sentiment begins to shift and the “excesses” of the price in late last year begin to settle. Price comparison site finder.com, has released its July Cryptocurrency Predictions Survey suggesting that by the end of July we could see…
[ad_1] 8.29am MORNING HEADLINES Good morning, and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime. Bitcoin is priced at $6,462 after falling $68 since the start of the day. Etheruem has slumped to $458, with Ripple falling to $0.47 from its $0.50 high this week. Price comparison…
[ad_1] But the latest salvo from the activist, which plans to vote against chief executive Gavin Darby’s re-election at Premier’s annual meeting this month, was rejected. Darby, who has led the Mr Kipling, Bisto and Oxo group since 2013, also won support from influential shareholder group ISS and chairman Keith Hamill reiterated the board’s confidence…
[ad_1] The Trump administration’s tariffs, a 25 percent duty on $34 billion worth of Chinese goods, are set to take effect 12:01 a.m. EST on Friday. Beijing has said it would retaliate immediately with tariffs of its own. That leaves U.S. farmers in the crossfire. “Rural communities are dependent on agriculture. It’s their life blood,”…
[ad_1] Check out the companies making headlines after the bell: PriceSmart stock was down nearly 7 percent in after-hours trading. The San Diego-based company missed on earnings for its third quarter, earning 61 cents per share versus the 63 cents per share expected by analysts. PriceSmart did beat analysts’ revenue expectations generating $782 million versus…
[ad_1] While Weiss isn’t alone in getting defensive as the nine-year bull market marches on, others are more positive. On Wednesday, Citigroup’s equity strategy team advised clients to continue to buy. They wrote in a note to clients that Citi’s bear market checklist that monitors symptoms of a downturn in stocks suggests that only three…
[ad_1] Matthew Gold, former deputy assistant U.S. trade representative for North America under President Barack Obama, told CNBC that there may be no way to escape a trade war with China. “President Trump has really left no exit ramps here,” Gold said Thursday on “Power Lunch.” “We’re in a downward spiral,” said Gold, who is…
[ad_1] Harley-Davidson riders in Europe don’t care whether the iconic American motorcycles are made in the United States, custom motorcycle builder Alan Stulberg told CNBC. “They’re concerned more about the pricing of the model as it compares to other options available in Europe,” said Stulberg, co-founder of Revival Cycles, a motorcycle shop based in Austin,…
[ad_1] Business leaders have started to raise concerns with the Federal Reserve about potentially damaging effects of tariffs as the trade dispute heats up between the United States and its key economic partners. While tariffs would directly affected sheer trading volume between the U.S. and countries like China and Mexico, company executives — and Fed…
[ad_1] The move came amid an economy expected to grow by about 4 percent in the second quarter amid high levels of consumer and business sentiment and increasing levels of investment. Economic growth is “progressing smoothly” the minutes stated, with activity “expanding at a solid rate,” and “labor market conditions continuing to strengthen.” Inflation is…
[ad_1] The Federal Reserve’s efforts to unwind its mammoth portfolio of bonds continues to run into hitches. Central bank officials at their June meeting discussed another issue, this one relating to the mortgage-backed securities on the Fed’s balance sheet. According to the minutes from the June 12-13 gathering, proceeds the central bank is getting from…
[ad_1] FOR months Chinese officials have stuck to the same script: China does not want a trade war, but will win if dragged into one. As hostilities turn more serious, this confident façade has taken a blow. Chinese equities have plunged into bear-market territory. The yuan had its biggest monthly fall against the dollar on…
[ad_1] COMPETITION forces companies to keep prices low to attract customers. But if a few firms become powerful enough, they can see off competitors and charge more. A new working paper by Jan De Loecker of the University of Leuven and Jan Eeckhout of University College London presents evidence that this is happening across the…
[ad_1] THEY evoke metal gorillas in a cavernous, floodlit hall: 640 robots with riveting guns and arms for handling parts. They will spring into action this autumn at the opening of a new plant for Jaguar Land Rover (JLR), built at a cost of €1.4bn ($1.6bn) on former farmland in Nitra, in western Slovakia. Cars…
[ad_1] “Our people crave, more than anything else, to know the extent of the nation,” says the narrator in “Do You Love Me?”, a short story by Peter Carey set on an imaginary world that lionises cartographers. To satisfy that craving, the country carries out a regular, exhaustive census: a “total inventory of the contents…
[ad_1] Too pricey to drown sorrows ON A residential street corner in Buenos Aires, Van Koning Market sells imported beers to the city’s well-heeled. Since it opened in June last year costs have soared. The peso has plummeted, meaning wholesale prices have shot up. Inflation is running at 26%; the reduction of government subsidies means…
[ad_1] IN THE autumn of 1974 Paul Samuelson, a prominent economist and Nobel prizewinner, issued a challenge. Most stockpickers should go out of business, he argued. Even the best of them could not always beat the market average. But there was a snag. “If this advice to drop dead is good advice, it is obviously…
[ad_1] As hopes of stopping the two leading economic superpowers entering a long and damaging trade war dwindles, Beijing issued a stinging attack on the US president. While the Trump administration prepares to deliver another round of punitive tariffs on $34 billion of Chinese imports on Friday, China has promised retaliation but assured markets that…
[ad_1] IT USED to be said that America’s shale producers were the new “swing factor” in global oil markets. It turns out that role is being taken by America’s president. At a time when oil prices are at three-and-a-half-year highs, markets are being buffeted by three countervailing forces unleashed by President Donald Trump: his geopolitical…
[ad_1] Europe’s leading economy has been criticised for years over what has been seen as an unfair difference between its exports and imports. However, in the wake of President Trump’s anger over the EU’s trade data, the influential IFO Institute has sent a clear message to Chancellor Merkel that Germany’s trade figures – once viewed…
[ad_1] The G20’s deepening divisions mean nations are less equipped to deal with a financial crisis like 2008’s crash, the German Chancellor told the Bundestag. Addressing the lower house, Chancellor Merkel said: “The international financial crisis, which ensured that we now act in the framework of the G20, would never have been resolved so quickly,…
[ad_1] There is a limited amount of UK economic news today, so the pound US dollar gains are instead attributable to US dollar weakness on growing trade war concerns. Tensions are high in the US, ahead of tomorrow’s imposition of tariffs on imports by both the US and China. Both nations have threatened to impose…
[ad_1] Last month, 102 concessions were earmarked for closure, affecting 445 roles. The closures mark the end of a business founded in 1972 by Jack Cynamon and Alan Green, tailors from the East End of London. In 1977 they used their names, with a French twist, to create the Jacques Vert clothing brand. Benjamin Wiles…
[ad_1] The pairing was forced to relinquish almost all of yesterday’s gains as European Central Bank (ECB) rate hike bets suddenly jumped. Back in June, following the ECB’s most recent policy meeting, the euro was sent sharply lower as President Mario Draghi pledged that the bank would leave rates on hold until ‘at least summer…
[ad_1] EWM, with concessions in some of Wyevale’s 145 garden centres, is not thought to be among the frontrunners in the bidding race. EWM also owns Peacocks and Austin Reed. Other suitors are believed to include rival Dobbies and some smaller garden centre groups. Wyevale’s fortunes have improved and sales in recent weeks were described…
[ad_1] Sir Martin, 73, formed S4 Capital in May and personally invested £40million as part of a £51million fundraising, using the listed shell company Derriston Capital which is in takeover talks with a number of companies. He is using Derriston Capital as a method of building his “next generation” advertising group. Shareholders are due to…
[ad_1] Lloyds paid £218million in 2014 to settle allegations some staff colluded to set the London interbank offered rate, against which rates on trillions of pounds worth of contracts and loans are set across the world. The SFO said: “Having thoroughly investigated and having reviewed the information available to it, the SFO has concluded there…
[ad_1] 8.15am MORNING HEADLINES Good morning, and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime. Bitcoin is currently prices at $6,606 after falling slightly from its high on Wednesday. However, the general daily movement remains onward and upward. Crypto crime is the hot topic of the day…
[ad_1] Britain’s second biggest supermarket has been lagging its Big Four rivals according to recent Kantar market share data and its performance in the 16 weeks to June 30 showed same-store takings rising by 0.2 per cent compared with growth of 0.9 per cent over the previous quarter. Its proposed £14billion tie-up with Asda faces…
[ad_1] The cryptocurrency market is floating in the green today, despite heavy criticism from a number of analysts. Ripple rose by 0.65 percent today to trade at $0.497935 as of 9pm BTS. The rest of the market saw minor gains, with Bitcoin trading at $6,692.80, Ethereum for $474.65 and Litecoin for $86.99. Last night almost…
[ad_1] Bitcoin has been blasted as a “failed experiment” that is “doomed to die”, according to some experts, as prices continue to stagnate. The digital token has suffered a difficult Q2, losing significant gains across June to finally trade at $6,734.94 as of 4pm today. BTC rallied slightly by 2.28 percent today as the cryptocurrency…
[ad_1] Clem Chambers, CEO of ADVFN, said he thinks bitcoin will hit highs of $20,000 again but warned it will “probably” drop in price before rallying. Speaking to Express.co.uk from the CryptoCompare MJAC Blockchain Summit, Mr Chambers said: “The blockchain will be the way of the future which will be like the internet was to…
[ad_1] Investors are on edge as China gets set to retaliate against Donald Trump on Friday, with the pair set to invoke tariffs against imports on the same day. The MSCI index of Asia-Pacific shares outside Japan fell another 0.25 percent today, as markets remain on edge ahead of Friday’s tariffs. Shares in mainland China…
[ad_1] This is the strongest rise since October 2017 and has been received positively by analysts at IHS Markit, the company that compiles UK PMI readings. Markit’s Chief Business Economist Chris Williamson singled out the data as a reason for a Bank of England (BoE) interest rate hike next month. He said: “Stronger growth of service…
[ad_1] The pound’s resilience against the US dollar this morning can be put down to a better-than-expected service sector survey from the UK. According to data published by IHS Markit, the UK’s services PMI jumped from 54.0 to 55.1 in June, sailing past expectations activity would stall, and expanding at its fastest pace since October.…
[ad_1] The 54-year-old succeeds Brian McBride, who steps down after six years. Crozier said: “The Asos story is truly impressive. I’m tremendously exited.” Ian Dyson, a senior independent non-executive director, said: “On behalf of the board, I’d like to thank Brian for his contribution during a period of high growth for our company and I’d…
[ad_1] Sales at stores open at least a year were up 2.5 per cent and it also opened 22 new UK outlets. Introducing new brands such as social media-inspired Revolution helped it increase its cosmetics market share to 32 percent, while face masks for social media selfies were a standout performer to lift skincare sales…
[ad_1] 8.00am MORNING HEADLINES Good morning, and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime. Bitcoin is priced at $6,464 at the start of the day after falling from its high of $6,628 last night. Ethereum has fallen a little to $462, and Ripple is priced at…
[ad_1] It relates to business in Nigeria, the Democratic Republic of Congo and Venezuela from 2007. Glencore runs huge copper and cobalt mines in Congo, and trades in Nigeria and Venezuela. It has more than a quarter of the world’s cobalt output, most of it from Congo. Glencore, run by billionaire Ivan Glasenberg, was founded…
[ad_1] Chief executive, Rachel Fletcher, said: “The decisions some water companies have made on dividends, financial structures and top executive pay have damaged customer trust. “We have looked in detail at the incentives we give water companies. “Through the measures we’ve announced today, we are strengthening the incentive on companies to improve their performance for…
[ad_1] Experts believe that, over the years, private sector banks will likely gain more market share from their state-run counterparts because they have stronger balance sheets, they are less exposed to stressed sectors, have stronger governance and are more competitive. “If you take a 10-year view, currently the private sector banks’ market share is 30…
[ad_1] One in eight adults between 25 and 40 are moving back home either to save on rent, build a property deposit, recover from a partnership break-up or battle to clear escalating debt. They stay for more than two years on average and save £575 on rent, food, heating and other living expenses every month,…
[ad_1] Six out of 10 do not bother taking out cover when holidaying at home, leaving them unprotected against curtailment or cancellation, or loss of expensive items such as electronic gadgets, research shows. Insurance companies such as LV=, which commissioned the research, would like to see more domestic holidaymakers taking cover as staycations grow in…
[ad_1] Industry watchdog the Financial Reporting Council has begun an investigation into the firm’s audit of Conviviality’s financial statements for the year to April 30, 2017. Conviviality, which also ran Wine Rack and whose wholesale arm served more than 23,000 trade outlets including pubs, restaurants and hotels, fell into administration in April this year after…
[ad_1] Many women lack the confidence to invest or simply are not as interested but they pay a heavy price as a result. The average pension pot for a man aged between 25 and 34 will be £142,836 by the age of 68 but just £126,784 for women, a gap of almost 11 per cent,…
[ad_1] Pradeep Gaur | Hindustan Times | Getty Images Indra Nooyi, Chairman and CEO of Pepsico, photographed at Adasia 2011. (Photo by Pradeep Gaur/Mint via Getty Images) PepsiCo’s profitability will suffer due to commodity price inflation this year, according to Deutsche Bank. The firm lowered its rating on PepsiCo shares to hold from buy, predicting…
[ad_1] President Donald Trump is blasting Harley-Davidson again for announcing it’s shifting some operations overseas in the wake of retaliatory EU tariffs against U.S. duties. Trump said Tuesday that his administration is talking with other motorcycle companies about moving to the U.S. “Now that Harley-Davidson is moving part of its operation out of the U.S.,…
[ad_1] Washington and the nation are very focused on the fact that Supreme Court Justice Anthony Kennedy has resigned, leaving the high court vulnerable to ideological change. Not really focused upon as much is an offhand remark made by Larry Kudlow, the director of the National Economic Council, in a recent television interview. Mr. Kudlow…
[ad_1] It began as an ordinary night for six Bank of America employees, who were out to celebrate the holidays. In mid-December, the members of the firm’s prime brokerage – a division that caters to hedge funds – had gathered at an intimate Lower East Side lounge called Et Al after leaving the team’s gift-exchange…
[ad_1] Just hours after the European Union said that US automotive tariffs would hurt its own vehicle industry and prompt retaliation, the President warned that the United States would address the “big disadvantage with the WTO.” On claims the EU and WTO are collaborating against the US, he said: “We’re not planning anything now, but…
[ad_1] GETTY Theresa May has been told to save the high street In a year of staggering losses for the high street, top shops like M&S and Waitrose have struggled as stores close and jobs are lost across the country. House of Fraser announced plans to close 31 stores last month, resulting in up to…
[ad_1] The “Fast Money” traders shared their first moves for the market open. Carter Worth was a buyer of Johnson & Johnson Dan Nathan was a buyer of JD.com Steve Grasso was a buyer of Avis Budget Group Tim Seymour was a seller of JD.com Trader disclosure: On July 2, 2018, the following stocks and…
[ad_1] The British Chambers of Commerce told MPs to “stop the squabbling” and get on with Brexit, as it loses patience with the lack of progress. The BCC, which represents 75,000 businesses employing over 5 million people – warned the government firms are at “breaking point”. The BCC published a list of 24 “real-world” questions…
[ad_1] The pound finally found its feet against the US dollar this morning, with the pairing jumping around half a cent following the latest UK construction survey. According to data published by IHS Markit, activity in the construction sector picked up last month, with the latest PMI reading rising from 52.5 to 53.1. This easily…
[ad_1] The online estate agent confirmed it will take over DuProprio/ComFree (DPCF), which owns and operates a commission-free real estate service network with an online offering that Purplebricks said mirrors some of its own services. The UK firm said it presents “attractive opportunities to quickly grow market share in Canada”, where it hopes to capitalise…
[ad_1] Pound Sterling has appreciated because June’s construction sector PMI has shown a rise from 52.5 points to 53.1, beating forecasts for a decline to 52.4 points. While a relatively minor rise, this result still means that the pace of construction sector growth is accelerating. Analysis company IHS Markit provided the PMI data; responding positively…
[ad_1] The SUSE division – which at its core is a business-to-business operating system service company – is being snapped up by Swedish private equity firm EQT just four years after being acquired by Micro Focus as part of its £1.8billion takeover of the Attachmate Group which accounted for a fifth of Attachment’s revenues at…
[ad_1] Poundworld went into administration on June 11, putting 5,100 jobs at risk. Administrators at Deloitte have searched for a buyer without success and have launched closing-down sales in some stores. Mr Edwards said: “I contacted the administrator four weeks ago and was just paid lip service until everyone else they were talking to about…
[ad_1] 8.00am MORNING HEADLINES Good morning, and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime. Bitcoin is currently priced at $6,630 following a strong weekend performance that lasted through Monday. Ethereum has climbed to $479 with Ripple returning to $0.50. A new research paper from the European…
[ad_1] It will also entail the joint purchasing of their own-branded products. A statement explained the alliance will “enable both companies to improve the quality and choice of products available to their customers, at even lower prices thereby enhancing their competitiveness”. Tesco and Carrefour claim the agreement would also create “significant opportunities” for their suppliers…
[ad_1] Emerging markets have sold off on trade war fears, and for noted investor Mark Mobius that means it could be time to buy. “There is concern about these markets and what’s happening. But what a lot of people forget is that this opens up opportunities,” the co-founder of Mobius Capital Partners said on CNBC’s…
[ad_1] Check out the companies making headlines after the bell: Herman Miller stock surged more than 11 percent in extended trading. The furniture company reported fourth-quarter earnings of 66 cents a share, besting analyst estimates for 58 cents a share. Herman Miller also posted revenue of $618 million, better than the $601 million expected. Shares…
[ad_1] A full-blown trade war would punch a hole in global economic growth because of reduced trade volume, supply chain disruptions, and lost confidence. Quantifying just how much damage an entrenched trade battle could wreak upon the international community is a trickier task, but J.P. Morgan has come up with three scenarios. In J.P. Morgan’s…
[ad_1] On the heels of the Dell–VMware deal, CEO Michael Dell said he’d buy out private equity firm Silver Lake, too, if given the chance. “They’ve been very clear about their intention to continue to hold, and they’re very committed to the investment,” Dell told CNBC’s “Squawk on the Street” Monday. “I tell you, I’ve…
[ad_1] In general business-to-business contracts fall outside the protections offered by consumer regulated contracts through the Financial Conduct Authority (FCA) and its complaints arm the Financial Ombudsman Service (FOS), www.financial-ombudsman.org.uk However there are exceptions and if you are challenging an agreement you have signed, it can depend of what type of trader you are and…
[ad_1] Morgan Stanley says the passage of Wells Fargo’s capital return plan by the Federal Reserve is a significant positive event for the company. On Thursday, the Fed approved Wells Fargo’splan in the second part of its annual bank stress tests. Earlier this year, the central bank ordered Wells Fargo to cap its assets until…
[ad_1] “Rising interest rates and escalating trade tensions have contributed to an increase in equity volatility in 2018,” Kostin said. The “10-year US Treasury yields have risen by 44 bp YTD to 2.85%, and our economists expect they will continue to rise to 3.25% by year-end 2018.” The 10-year Treasury yield rose slightly to 2.855…
[ad_1] GE’s stock is down 2.5 percent Monday after the report. Tusa reaffirmed his $11 price target for the company, representing 19 percent downside to Friday’s close. The analyst said at stock’s current valuation, the remaining GE company after the upcoming health-care business spinoff is trading at 26 times estimated 2019 earnings per share. “Using…
[ad_1] One in eight pensions are at risk and are believed to have the wrong address attached to them, while tens of thousands also have the wrong names on them. The shock errors were revealed by credit checking firm Experian, who analysed a database of pension accounts. These mistakes could mean retirees are shown other…
[ad_1] The bitcoin bubble at the end of 2017 saw thousands of new cryptocurrencies enter the market and compete for the attention of investors consumed by global hype and the prospect of getting rich quick. These Initial Coin Offerings (ICO) hoovered up money from gullible investors using little more that some code and a speculative…
[ad_1] Europe’s two largest supermarket groups – France’s Carrefour and the UK’s Tesco – plan to form a global purchasing alliance to help cut costs as the traditional supermarket chains respond to growing pressure from discounted retailers like Aldi and Lidl. Tesco chief executive Dave Lewis said: “By working together and making the most of…
[ad_1] Mr Rabaglia of Octagon Strategy said he thinks bitcoin regulation will eventually “drive it higher” in price. Speaking to CNBC, Mr Rabaglia said: “Of course, it is quite clear that the markets have been under pressure. They are coming down off that high starting later this year and into late last year. “I think…
[ad_1] Founder Julian Hearn said that the Buckinghamshire-based company has been speaking to both venture capital and private equity firms and is now deciding on whether to clinch a partner from Britain or the US, which recently overtook the UK in sales. “We’ve got a shortlist,” he said. “The US, we know, is going to…
[ad_1] In the July 2018 draw, a total of 3,082,208 prizes worth £88,099,800 will be paid out. There were 75,514,119,546 Bonds eligible for the draw. As well as the two new millionaires, five people won £100,000, nine won £50,000 and 20 won £25,000. National Savings and Investments (NS&I) have reported that there is more than…
[ad_1] The main reason is the gender pay gap, and women taking time off to raise children or look after a sick or elderly relative. Women could close the gender pension gap by paying an extra 1 percent of their salary towards a pension early on in their career, said the report. Most women are…
[ad_1] The latest UK data, a manufacturing PMI reading for June, has failed to help the pound US dollar exchange rate. The measurement of sector activity has risen marginally from 54.3 to 54.4 points, indicating a fractionally higher level of growth during the previous month. This has both beaten and missed expectations, as some economists…
[ad_1] The US is concerned that the forthcoming sanctions on Iran alongside the demise of oil-rich Venezuela could spark a massive rise in petrol prices as output slows and barrel prices soar. When asked by Fox news if OPEC were “manipulating oil markets”, President Trump said: “OPEC is, and they better stop it because we’re…
[ad_1] The pound is trading in a narrow range against the euro this morning as markets react to the UK’s latest Manufacturing PMI. According to data published by IHS Markit, activity in the UK’s manufacturing sector remained largely unchanged in June, with the index holding at 54.4. While this beat expectations that it would slide…
[ad_1] Two lucky savers scooped the top prize in this month’s July premium bond draw and will share a whopping £1million jackpot A man from Suffolk bought his winning bond in June 2017 and had the winning number: 305QA758516. And a man from South West Wales is also taking home a cash prize with his…
[ad_1] 8.00am MORNING HEADLINES Good morning, and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime. Bitcoin is currently priced at $6,307 with Ethereum down at $449 and Ripple at $0.45. After last week’s drop to $5k, and talk of a forthcoming crypto ‘funeral’ as the leading coin…
[ad_1] Anybody interested in seeing what a destruction of the Greek economy would have meant to the U.S. national security can consult NATO’s website. Greece is hosting American-operated military facilities controlling the Eastern Mediterranean, part of West Balkans, North Africa and the Middle East. The Greek tragedy is a case where Germany bears direct responsibility.…
[ad_1] And there lay the problem because when the incident was said to have happened in London, John was actually parked in Nottingham and enjoying a day’s cricket at Trent Bridge. He disputed liability and in January showed proof of his whereabouts to his insurer, Halifax and its policy’s underwriter Covéa Insurance. As he heard…
[ad_1] Ann Cairns, the group’s vice chairman, said that it made financial sense for governments to ditch cash in favour of card or digital payments, given that cash can often have higher production, transport, insurance and security costs. “Cash costs a lot of money, it costs a country between half a per cent and 1.5…
[ad_1] Despite the recent bloodbath in cryptocurrencies, Bitcoin bull Arthur Hayes said the popular digital coin will reach $50,000 by the end of the year. Bitcoin’s price has been on a wild roller coaster with investors, but “something that goes up to [around] $20,000 in one year can have a correction,” Hayes, the co-founder and…
[ad_1] President Donald Trump said Sunday he wants to wait until after the midterm elections to move forward on a new NAFTA deal with Mexico and Canada, with the parties locked in tough negotiations. The Congressional midterms are scheduled for Nov. 6, with Democrats poised to gain seats in the House, and possibly retake a…
[ad_1] These benefits are also available to civil partners, but under the Civil Partnership Act 2004 only same sex couples can enter into a legally recognised relationship. Last week, five judges ruled that this discriminates against heterosexual partners who want to form a civil partnership, and is incompatible with human rights legislation. The judgment does…
[ad_1] Open Banking is a Government-backed initiative, spearheaded by the Competition and Markets Authority (CMA) to encourage greater competition between banks and offer consumers better value for money. More than 33 million people are expected to sign up by 2022, according to new research from PwC, but many fear doing so will increase their exposure…
[ad_1] Approvals for house purchases fell 3.8 per cent year-on-year in May, according to latest figures from UK Finance, while the LCPAca Residential Property Index showed a 15.4 per cent collapse in transactions across England and Wales in April, with house prices also falling. The Bank of England recently warned lenders against taking greater risks…
[ad_1] Holidaymakers are set for better deal from today if something goes wrong with their booking or while they are away. A widening of the package rules, to reflect how travellers buy trips now, offers more protection by including the different ways people make their own arrangements and book online through linked websites. The new…
[ad_1] The claim she lodged with the airline was rejected, however, because the cause for the hold-up was bad weather. This falls under EU law that classifies it as “extraordinary circumstances” and not within the carrier’s control. But another friend, who by coincidence was on the same flight as the couple, had his claim accepted…
[ad_1] According to reports, Bitcoin witnessed a 9 percent price rise, Ethereum was up by 7.3 percent and Ripple 5.5 percent. Bitcoin Cash rose 14.6 percent, and Cardano was also up 14 percent. On Wednesday, Facebook announced that it had lifted a five-month cryptocurrency advertising ban on its platform. The social media site, along with…
[ad_1] Official figures also showed the powerhouse services sector gathered momentum in April, growing 0.3 per cent from the previous month which is the quickest pace since last November. An earlier estimate had construction shrinking by 2.7 per cent in the first quarter as freezing temperatures brought work to a halt. The new data shows…
[ad_1] In early April Janet wrote the cheque from her co-operative Bank account for her husband who then put it into his Nottingham Building society one. But shortly after, he was told the money was being withdrawn again as the cheque had been stopped and not processed. “We were very puzzled and then checked with…
[ad_1] Two crowd-funding campaigns, netting £3m, have funded the company that sources from British farms and offers customers a choice from a changing menu of inventive recipes with meals from £4. “Growth has been far quicker than we expected,” says engineer and former Morgan Stanley trader Robert Grieg-Gran who co-founded Mindful Chef with ex-M&C Saatchi…
[ad_1] Tesla may start turning a profit as early as this year, automotive analyst Jamie Albertine told CNBC. “Based on what we’re seeing in the trajectory of production, we think they will be profitable on a non-gap basis later this year,” Albertine said Friday on “Power Lunch.” “We think we’ll be testing $385 [price target],…
[ad_1] The money-saving move will mean all 18,000 staff at its 24 offices will only use their mobiles for business calls. The company claimed mobiles would be “more efficient”, though it did not reveal the expected savings. It said: “We already equip our people with a mobile and many had already moved away from using…
[ad_1] VCG | Getty Images HANGZHOU, CHINA – FEBRUARY 09: An investor watches the electronic board at a stock exchange hall on February 9, 2018 in Hangzhou, China. Chinese shares plunged on Friday with the benchmark Shanghai Composite Index down 132.20 points, or 4.05 percent, to close at 3,129.85. The Shenzhen Component Index fell 371.36…
[ad_1] Domino’s Pizza CEO Patrick Doyle will step down from his post this weekend but analyst Matthew DiFrisco told CNBC that the company has the right recipe for continued success. “Personalized marketing is the key,” DiFrisco, managing director at Guggenheim Securities, said on “Power Lunch” Friday. “They’re combining the digital investment with value proposition and…
[ad_1] Volatility will continue in the second half of the year but the market should ultimately end higher, noted value investor David Katz told CNBC on Friday. “The corporate tax cut is a windfall for companies and for the economy,” the chief investment officer at Matrix Asset Advisors said on “Power Lunch.” He predicts the…
[ad_1] Each year, more than 200,000 U.S. military veterans return to civilian life after serving our country in uniform. According to the Small Business Administration, 10 percent of veterans would like to own their own business. Veterans are disciplined, well-trained leaders. With access to capital and business training, their success rates as small business owners…
[ad_1] Deutsche Bank CEO Christian Sewing told CNBC on Friday the German banking giant remains committed to its U.S. unit even after failing the second round of annual Federal Reserve stress tests. The Fed said on Thursday it saw “widespread and critical deficiencies” in the bank’s capital planning controls. Last week, Deutsche Bank cleared the…
[ad_1] “If the Fed goes two more times this year … the yield curve inverts, certainly by early Q4,” LaVorgna said. “If that’s the case, you want to be on the lookout for recession as early as Q4 of 2019” as there is typically a lag time of five quarters from when the curve inverts…
[ad_1] Even if Tesla misses its target to produce 5,000 Model 3 cars per week around the end of the second quarter and its shares drop dramatically early next week on a disappointing data release, the stock will likely still be up significantly since its IPO. On Thursday Reuters reported Tesla is not producing enough…
[ad_1] All eyes will be on Mexico’s presidential election on Sunday, but the key to the country’s future will rest on how the congressional contests shake out. According to a poll conducted in late June by Mexico-based Parametria, the left-wing Morena party is poised to win the most seats in the lower house and the…
[ad_1] Jefferies is less optimistic over the prospects of Walgreens Boots Alliance due to Amazon’s move into the pharmacy business. Shares of drugstore companies plunged Thursday after Amazon announced it signed an agreement to acquire online pharmacy PillPack before the market open. The firm lowered its rating to hold from buy for the drugstore chain’s…
[ad_1] The “Fast Money” traders shared their first moves for the market open. Tim Seymour is a buyer of Bank of America. Karen Finerman is a buyer of Foot Locker. Brian Kelly is a buyer of the iShares 20+ Year Treasury Bond. Dan Nathan is a seller of the Financials ETF. Trader disclosure: On June…
[ad_1] Chargemaster operates over 6,500 charging points around the country and has 40,000 customers. BP aims to roll out the ultra-fast charging points at its network of 1,200 petrol stations over the next year. It predicts there will be 12 million electric vehicles on UK roads by 2040, up from around 135,000 last year. BP’s…
[ad_1] The euro initially stormed ahead of the pound this morning as the single currency enjoyed a considerable upswing in sentiment after a supposed breakthrough in migration talks between EU leaders late last night. Ahead of yesterday’s EU summit in Brussels, markets had expressed fears that divisions between some members over the migration crisis could…
[ad_1] There has been a glimmer of positive UK economic news today, with the finalised Q1 GDP growth rate figures showing a better result than forecast. The quarter-on-quarter reading printed at 0.2 per cent, instead of hitting the Office for National Statistics’ expected 0.1 per cent level. Celebrations may be premature, however, says ONS Head…
[ad_1] Cryptocurrency traders watched bitcoin prices slump back to $5,000 today amid a continued threat of a crypto-crash. Bitcoin dropped another 3.50 percent today to trade at $5,889.60. The rest of the market has suffered heavily, with Ethereum trading for $4,111.50, Ripple going for $0.43 and Litecoin going for $73.73. The market has seen significant…
[ad_1] The Suffolk-based brewer and pubs group had budgeted for only three England matches, but the team is already guaranteed a place in the last 16. It sold 420,000 pints in a four-hour period around the Tunisia match, 450,000 for Panama and was expecting 465,000 for last night’s match against Belgium. Annual adjusted pre-tax profit…
[ad_1] Greece is preparing to end its final bailout programme in August, but is still struggling under a debt mountain of £202billion (€228bn). The IMF fears that without more debt relief it may not be able to hold itself steady in the long run. Peter Dohlman, the IMF mission chief for Greece, warned Greece’s future…
[ad_1] The German giant is expected to begin a slow retreat from investment banking after years of poor performance but the Fed board’s unanimous objection to Deutsche Bank’s US capital plan marks another blow for the German lender, sending its share price down another one percent. With little chance of a return to profitability at…
[ad_1] The company, which had a 90 per cent stake in the venture, with Virgin Trains the other 10 per cent, handed over control last weekend to the Government. Transport Secretary Chris Grayling said they had “got their bid wrong”, overestimating the profitability of the line. CEO Martin Griffiths said Stagecoach remains “in a good…
[ad_1] The construction equipment group has started work on the hi-tech factory, next to two existing JCB plants in Uttoxeter, Staffs, which will have the capacity to produce around 100,000 cabs a year. The new plant is set to open next summer. CEO Graeme Macdonald said in a statement: “This new factory will be the…
[ad_1] 7.30am MORNING HEADLINES Good morning, and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime. Bitcoin has finally fallen below the $5k line after slumpng to $5,830 late last night. Yesterday the Bank of England sounded out a pretty clear warning to banks and insurance firms on…
[ad_1] Akio Kon | Bloomberg | Getty Images Reed Hastings, chief executive officer of Netflix Inc., right, applauses during a news conference in Tokyo, Japan. Netflix’s global subscription expansion as well as gradual pricing increases put the company’s stock on track for even more upside over the next year, according to Macquarie Research. The firm…
[ad_1] IAG, which also controls Irish airline Aer Lingus and Spanish carriers Iberia and Vueling, will launch a new low-cost subsidiary, branded as Level, with flights from Vienna starting on July 17. Level was launched as a long-haul airline brand a year ago, initially operating from Barcelona to US and South American destinations before opening…
[ad_1] Bank of America Merrill Lynch says investors should avoid Walgreens Boots Alliance shares as Amazon enters the pharmacy business. Shares of drugstore companies are tumbling Thursday after Amazon announced it signed an agreement to acquire online pharmacy PillPack. The firm lowered its rating for the drugstore chain’s shares to underperform from neutral due to…
[ad_1] Bitcoin fell below $6,000 on Thursday. According to cryptocurrency trader Ran Neu-Ner, it’s likely to go even lower. “There’s more blood to come,” Neu-Ner, who is host of CNBC Africa’s “Crypto Trader,” said Thursday on “Fast Money.” Bitcoin was priced around $5,915 as of 6 p.m. ET Thursday. “Right now my money is on…
[ad_1] Jeans — “Unilateral tariff impositions risk retaliation and destabilizing the global economy, in which case American brands, workers and consumers will ultimately suffer,” Levi Strauss said in an emailed statement to Bloomberg, according to a May report. The article added that Levi Strauss pledged to work with peers in the industry to show U.S.…
[ad_1] Instead, Goldman Sachs said it would return no more than $6.3 billion in capital in the year starting in the third quarter. It is raising its dividend 5 cents to 85 cents a share, but that doesn’t kick in until next year’s second quarter. Morgan Stanley said it would distribute an amount consistent with…
[ad_1] The biggest U.S. banks announced plans to buy back tens of billions of dollars in stock and hike their quarterly dividends after passing an annual stress test by the Federal Reserve. Wells Fargo said it would more than double its stock buybacks to $24.5 billion and raise its quarterly dividend to 43 cents a…
[ad_1] Check out the companies making headlines after the bell: Nike stock increased by more than 8 percent in extended-hours trading. The popular shoe and athletic wear company posted stronger than expected earnings in its fourth quarter report. Nike earned 69 cents per share compared with analyst expectations of 64 cents per share. The Beaverton,…
[ad_1] PRESIDENT Donald Trump’s view of investment depends on who is doing it. On June 22nd he railed against Europeans exporting cars to America, demanding that they “build them here!” On June 26th he tweeted that all Harley-Davidson motorcycles should be made in America (see article). But when it comes to Chinese investors buying American…
[ad_1] IN 2016, 71,000 babies were born in America after in vitro fertilisation (IVF), triple the number two decades earlier and 1.8% of all births. The share of births that are by IVF varies around the world, rising as high as 4% in Denmark, Israel and Spain. One consistent trend, however, is growth. Fertility technology…
[ad_1] First quarter gross domestic product stats from the US Commerce Department showed an increase of two percent, revised down from the 2.2 percent it reported last month. The lower than expected growth comes amid the weakest consumer spending in nearly five years. Despite the downgraded figures for Q1, President Trump’s $1.5trillion tax cut package,…
[ad_1] ALAIN LILLE is not pleased. His wildcat oil firm spent a fortune looking for oil in Petronia, a former colony known for cashmere wool, long before anyone else was willing to take the risk. After sealing a deal with the long-ruling government, he was poised to reap the rewards. But in last year’s election,…
[ad_1] CENTRAL bankers and economists have spilled much ink in recent years on the question of why wages have not grown more. The average unemployment rate in advanced economies is 5.3%, lower than before the financial crisis. Yet even in America, the hottest rich-world economy, pay is growing by less than 3% annually. This month…
[ad_1] IT OFTEN arrives as you stroll from the kerb to your front door. An e-mail with a question: how many stars do you want to give your Uber driver? Rating systems like the ride-hailing firm’s are essential infrastructure in the world of digital commerce. Just about anything you might seek to buy online comes…
[ad_1] THE rumour mill is grinding again. In early 2017 reports swirled of a possible merger between Generali, Italy’s biggest insurer, and Intesa Sanpaolo, the country’s second-biggest bank. That deal came to nothing. But Intesa is still looking for a partner. Now it is said to be in talks with BlackRock, the world’s biggest asset…
[ad_1] “MONEY often costs too much,” quipped Ralph Waldo Emerson. But a new study suggests that since 1950, the price of buying it with labour in America has fallen. Greg Kaplan of the University of Chicago and Sam Schulhofer-Wohl of the Federal Reserve Bank of Chicago have linked measures of how Americans today feel about…
[ad_1] AMERICAN companies “will react and they will put pressure on the American administration to say, ‘Hey, hold on a minute. This is not good for the American economy.’” So said Cecilia Malmström, the European Union’s trade commissioner, on news that Harley-Davidson plans to move some production out of America to avoid tariffs imposed by…
[ad_1] The “Fast Money” traders shared their first moves for the market open. Pete Najarian was a buyer of Chevron. Tim Seymour was a buyer of Alibaba. David Seaburg was a buyer of Tesla. Guy Adami was a buyer of Tesaro. Trader disclosure: On June 27, 2018 the following stocks and commodities mentioned or intended…
[ad_1] His profit was $75,000, the SEC said. Bonthu has agreed to return the money plus interest and to a permanent injunction to settle the SEC charges. In a statement, Atlanta-based Equifax said, “Upon learning about the sales of Equifax shares by Mr. Bonthu, we immediately launched a review of his trading activity and separated…
[ad_1] Nearly 50 large investors, including the California State Teachers’ Retirement System, or CalSTRS, and the New York state comptroller, signed onto a letter to Sen. Mike Crapo, R-Idaho, chairman of the Senate Banking Committee, opposing the bill. The letter, which was put together by the Council of Institutional Investors, said proxy advisory firms play…
[ad_1] The pound is currently on track for its worst week against the US dollar in over month as markets become increasingly wary of the slow progress in Brexit talks. This comes as Irish Prime Minister, Leo Varadkar, issued a warning to Theresa May that the lack of progress was “disappointing”. With less than nine…
[ad_1] The budget carrier, which operates in Tanzania, Zimbabwe and Mozambique, said that talks with some major shareholders over equity fundraising had been “positive” but there was “no guarantee of a successful outcome”. It did not disclose how much it aims to raise but without the cash injection it is “at risk of not being…
[ad_1] EU leaders are meeting in Brussels today with the escalating trade war on the agenda as the bloc prepares for what promises to be another ill-tempered NATO summit next week. Prior to today’s summit President of the European Council Donald Tusk warned “trans-Atlantic relations are under immense pressure due to the policies of President…
[ad_1] Suppliers have 49 days to move customers onto a new tariff if the one they are on is withdrawn, but SSE failed to comply with its licence by taking almost six months to switch customers over. On Thursday, SSE said it had compensated all the customers affected and had a customer support team for…
[ad_1] This is the lowest rate since early May and reflects eroded confidence among GBP traders due to Brexit and Bank of England (BoE) news. In the former case, ahead of a two-day EU summit Irish Prime Minister Leo Varadkar has warned that the UK needs to be confronted on the slow pace of Brexit…
[ad_1] With the decisive game in Group F between Germany vs South Korea kicking off at 4pm German time, workers fled their offices early hoping to see the 2014 World Cup winners secure victory against the 54th best team in the world. With an estimated 70 percent of workers estimated to have skipped work to…
[ad_1] The regulator handed Iresa, which has fewer than 250,000 customers, a temporary ban in March. But improvements in handling complaints and vulnerable customers have not been good enough. Iresa, of Nottingham, was also rated worst for service by Citizens Advice. Its chief Gillian Guy said it was too easy to set up in business…
[ad_1] A CBI survey showed growth was also driven by online shopping, although carpet, furniture and clothing retailers saw a drop in volumes. It follows official figures showing a 1.3 per cent rise in sales volumes in May from the previous month. Economists say the Royal Wedding and the World Cup had provided a boost.…
[ad_1] Sales dipped 2 per cent in the first quarter at UK cafes open at least a year, with growth in travel locations failing to compensate for a drop in demand in “traditional shopping locations”. Whitbread’s Premier Inn was down 0.9 per cent from last year due to a weak London market, which was boosted…
[ad_1] 8.00am MORNING HEADLINES Good morning, and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime. Bitcoin is priced at $6,108 following an overnight dip and recovery. Ethereum has dropped to $433 with Ripple down at $0.46. Facebook has decided to drop its controversial ban on cryptocurrency adverts…
[ad_1] Tens of trillions of pounds of derivative contracts, used by lenders to hedge their interest rate and currency trades, could cease to function unless the European Union implements protective legislation. This could affect the cost and availability of finance. In its financial stability report, the Bank of England said UK banks are strong enough…
[ad_1] Treasury Secretary Steven Mnuchin is optimistic on U.S. economic growth. “We’re excited. This is the six month anniversary of tax cuts. We’re expecting a big second quarter GDP number,” he said on CNBC’s “Squawk Box” on Wednesday. “Let me just say I have no advance notice of what it looks like.” President Donald Trump…
[ad_1] General Electric is set for better performance as the company’s leadership works to break off segments of the business, Oppenheimer said in upgrading shares of the industrial conglomerate to perform from underperform. The announced spinoff of GE’s health-care unit and the pending $11 billion merger of its transportation business with Wabtec should provide much-needed…
[ad_1] Luke Sharrett | Bloomberg | Getty Images A Pier 1 Imports retail store stands in Louisville, Kentucky. Check out the companies making headlines after the bell: Shares of Pier 1 Imports plummeted more than 15 percent in extended-hours trading after the retailer reported weak sales. The popular home decor company saw same-store sales drop 8.2…
[ad_1] GETTY Sol Campbell said its more important than ever that businesses monitor cyber security The research for Barclays by YouGov showed that almost half of SMEs surveyed (44 per cent) had been targeted by fraudsters, with approximately one in four (23 per cent) of those targeted having fallen victim. The average cost of a…
[ad_1] The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of General Electric. Karen Finerman was a buyer of Citigroup. Brian Kelly was a buyer of the Gas & Oil ETF. Guy Adami was a buyer of Phillips 66. Trader disclosure: On June 25, 2018, the following…
[ad_1] North Korea could account for up to 24 percent of the Korean Peninsula’s total gross domestic product in 20 years under reunification with the South, UBS estimated in a report this week. The rogue state currently accounts for 1.1 percent of the regional economy. Tensions around the nuclear state have eased after North Korean…
[ad_1] Shares of National Beverage, the maker of the popular seltzer water brand LaCroix, dropped more than 8 percent on Wednesday as the Securities and Exchange Commission raised questions about some of the company’s sales measurements. The stock closed at $100.19 and has fallen more than 12 percent over the past two days. According to…
[ad_1] St. Louis Federal Reserve President James Bullard said Wednesday that one major risk to the U.S. economy over the next few years is aggressive monetary policy and raising interest rates too quickly. Bullard’s comments to The Wall Street Journal included discussion on the so-called neutral level of the Fed’s benchmark rate, when it neither…
[ad_1] The debt load for U.S. corporations has reached a record $6.3 trillion, according to S&P Global. The good news is U.S. companies also have a record $2.1 trillion in cash to service that debt. The bad news is most of that cash is in the hands of a few giant companies. And the riskiest…
[ad_1] Stefan Wermuth | Reuters Bank of England governor Mark Carney leaves Number 10 Downing Street in central London, Britain October 31, 2016. The Bank of England (BOE) has attacked the European Union (EU) for risking the possibility that £29 trillion ($38 trillion) worth of derivatives could becoming untradeable after March next year. In its…
[ad_1] A popular ad campaign may be spurring alcohol sales, according to Morgan Stanley. The firm cited Nielsen data that revealed one-month U.S. beer sales through June 16 rose 3.3 percent year over year, improving from the results over the previous 12-week and 52-week periods. Anheuser-Busch Inbev, the owner of the Bud Light brand, was…
[ad_1] Lenders are pounding the pavement looking for borrowers who want to consolidate bills, take a vacation or fix up their homes. Homes are being inundated with mail solicitations from companies like Marcus, Elevate and Lending Club, hoping to supply personal loans to consumers. In all, 10 nonbank lenders that Credit Suisse tracks sent out…
[ad_1] President Donald Trump criticized Harley-Davidson again on Wednesday for announcing it’s shifting some operations overseas in the wake of retaliatory EU tariffs against U.S. duties. “Harley-Davidson should stay 100% in America, with the people that got you your success,” Trump said in a tweet. “I’ve done so much for you, and then this. Other…
[ad_1] Billionaire investor Warren Buffett was way ahead of a loud and growing chorus of bitcoin haters, and began questioning its viability five years ago. The Berkshire Hathaway CEO made headlines this year for calling bitcoin “rat poison squared” but he first took on the digital currency at the company’s 2013 annual shareholder meeting, according…
[ad_1] Midweek charts show Ripple continuing to fall as the bearish trend forced cryptocurrency prices down. Ripple suffered heavy losses over the weekend but continue to lose more, with another 4.51 percent being shaved off to see XRP trading at $0.459704 as of 8am. The entire market has seen significant losses this morning as well, with…
[ad_1] Merck Mercuriadis had originally targeted Hipgnosis Songs Fund to list last summer to raise £200million to acquire a catalogue of songs from artistes such as Adele, Kanye West and Bruno Mars. But the float was delayed to enable cornerstone investors to complete due diligence. Mercuriadis, who has managed Beyoncé Knowles, Guns N’ Roses, Iron…
[ad_1] Contrary to tequila’s common binge-fest image of fiery hits, lime wedges and wincing, drinkers won’t need shot glasses for these spirits. Leisured sipping from a long-stemmed flute is what the Extra (£145) is all about, while the Cristalino (£60) comes into its low-calorie own when mixed with sparkling water for a cocktail. Enemigo takes…
[ad_1] In its twice-yearly Financial Stability Report (FPC), the BoE came out firing against the EU27 as the dispute over how the financial sector should best prepare for a ‘no-deal’ or hard Brexit. The UK’s central bank says the European Commission is standing in the way of financial stability across Europe in a scenario where…
[ad_1] BRITAIN’S “bad bank” is expected to live just three more years. [ad_2] Source link
[ad_1] The Mobius Investment co-founder said major investors in the US have been calling for an impending correction in the stock market despite a growth spurt in the US economy. Speaking to CNBC, Mr Hardenberg said: “I would rather be concerned about the US. “I think the U.S. market looks very, very toppy. I think…
[ad_1] Kantar Worldpanel research shows sales of the misshapen produce, sold cheaper to help reduce waste, had more than tripled over the past three months compared with the same period last year and it now features in 12 per cent of baskets. Morrisons’ 1.9 per cent growth edged out Asda, up 1.8 percent. Fraser McKevitt,…
[ad_1] It blamed “significantly increased competition” and having too many underperforming stores on “uneconomic legacy rents” as it announced an underlying annual pre-tax loss of £8.7million. Compared with a £14.4million profit the previous year. Same-store sales fell 3.6 percent as group revenue dropped by 3 percent to £443.8million. Chief executive Wilf Walsh said: “After a…
[ad_1] Germany’s DAX index shed 0.8 percent over fears its leading firms will be caught up in the tit-for-tat trade tariff battle between the European Union and US. BMW Volkswagen and Daimler, the owner of Mercedes, both dipped. DAX, Germany’s leading index, shed 12.135 points this morning falling to its lowest point since early April.…
[ad_1] Mr Hammond visits Beijing this week at a crucial time when the escalation of tit-for-tat tariffs battles between China and the US read like a Hollywood movie script as President Trump moves the world ever closer to a full-blown trade war. The escalating tensions gives the Chancellor – ironically nicknamed ‘Box Office Phil’ –…
[ad_1] It comes pending a speech from BoE Governor Mark Carney. Investors haven’t had much in the form of significant UK data releases to assess this week, but Sterling has seen some movement as markets reacted to a range of combative statements from the Bank of England (BoE). Chief amongst these was a speech from…
[ad_1] US markets have reached their peak and will not rise any further, according to experts speaking as the United States’ largest stock index, the S&P500, trades near all-time highs. They blame threats from eurozone imbalances, falling profits, higher interest rates, trade wars and a possible US recession. Analysts at Bank of America Merrill Lynch…
[ad_1] Bitcoin took another big hit as prices continue to slump following on from a poor weekend. The market has seen another slump, with BTC falling another 2.50 percent as of 7.30am, trading at $6,107.14. Ethereum and Ripple are trading at $434.63 and $0.459704 respectively, while Litecoin is going for $76.89. Experts predict bitcoin could…
[ad_1] 8.15am MORNING HEADLINES Good morning, and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime. Bitcoin is currently priced at $6,069 after another fall last night from yesterday’s high of $6,241. This week we’re responding to comment from Brian Kelly, founder and CEO of BKCM LLC, who…
[ad_1] The famed Vincent motorbikes will be auctioned at The National Motorcycle Museum, with prices ranging from £35,000 to £60,000. They include the 1948 Vincent Black Shadow, the fastest production bike at the time, and a 1947 HRD Rapide Series B. Vincent Motorcycles was a British manufacturer between 1928 and 1955, established by Philip Vincent,…
[ad_1] Many are also worried about the fate of the NHS, particularly younger people, who fear it will no longer be there for them when they are older. Social care funding was a key issue in last year’s general election with the Conservative Party’s “dementia tax” costing them votes, and now Cabinet ministers have delayed…
[ad_1] The Society of Motor Manufacturers and Traders said the amount earmarked for new models, equipment and facilities has nearly halved from £647.4million in the first half of 2017 to £347.3million, the lowest figure since the financial crisis. Its annual sustainability report said car-making had enjoyed its eighth straight year of growth with record turnover…
[ad_1] Alamy BAFFLED… Stay alert for rate changes at banks and building societies It is already tough enough being a saver, with the Bank of England disappointing last week by holding base rates at 0.5 per cent. Many are tired of constantly shopping around for a market leading return with more than nine out of…
[ad_1] GE‘s turnaround strategy is becoming clear. The company announced plans on Tuesday to spin off its health-care unit and separate its stake in oil services company Baker Hughes over the next two to three years. GE will focus its operations on the aviation, power and renewable energy businesses. “Today marks an important milestone in…
[ad_1] General Electric said Tuesday it will “adjust” its dividend once a just-announced spinoff of its health-care business is completed. GE shares rose in premarket trading after the beleaguered industrial conglomerate said it would shed GE Healthcare and sell its stake in energy company Baker Hughes. The company said it would focus on the aviation,…
[ad_1] President Donald Trump says Harley-Davidson will be "taxed like never before" and that the U.S. motorcycle company was using increased trade tensions as an excuse to justify planned shifts in production overseas. [ad_2] Source link
[ad_1] Daniel Acker | Bloomberg | Getty Images An employee delivers food at a Sonic drive-in restaurant in Normal, Illinois. Check out the companies making headlines after the bell: Shares of Sonic plummeted more than 8 percent in extended-hours trading. The popular drive-in restaurant chain, earned 52 cents per share in its third quarter, beating…
[ad_1] If you’re wealthy enough to buy a National Football League franchise, you might want to consider Major League Soccer instead. According to Gregg Lemkau, co-head of investment banking at Goldman Sachs, the value of NFL teams has been stable but MLS teams are on the rise. “The growth of soccer in the U.S. has…
[ad_1] Shares of Intel fell 2.1 percent on Tuesday after Bernstein downgraded the stock and slashed its price target, citing a narrow path for further gains and uncertainty following the abrupt departure of its CEO. Analyst Stacy Rasgon lowered his rating on Intel to underperform from market perform and slashed his price target on the…
[ad_1] After decades of portrayals in science fiction, robots are beginning to appear in everyday settings, doing menial tasks from vacuuming homes to flipping burgers. In finance, big banks including J.P. Morgan Chase and Bank of America have focused on software rather than physical robots, pouring billions of dollars into artificial intelligence and machine learning…
[ad_1] General Electric will likely lower its “aggregate” dividend once the health-care spinoff is finished. “Given the typically lower payout ratios in the health-care industry this will likely lead to a reduction in the aggregate GE dividend at that time,” CEO John Flannery said on the company’s investor call. On Tuesday the company announced its…
[ad_1] The bidding war between Comcast and Disney for Fox assets is costing Rupert Murdoch billions of dollars. Disney raised its bid for pieces of Twenty-First Century Fox to $71.3 billion, up from its original offer of $52.5 billion. This was in response to Comcast’s offer of $65 billion for the same Fox assets. Disney’s…
[ad_1] American Express announced plans to introduce a co-branded Amazon credit card for small businesses. The card company said the offering is part of a broader multi-year partnership. It is Amazon’s first small business card. The deal gives Amex a big platform to woo small business customers as it aims to become a leading lender…
[ad_1] The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of General Mills. Karen Finerman was a buyer of Walmart. Steve Grasso was a buyer of Netflix. Guy Adami was a buyer of Tenet Healthcare. Trader disclosure: On June 25, 2018, the following stocks and commodities mentioned…
[ad_1] Lee Enterprises said Warren Buffett’s Berkshire Hathaway hired it to run its newspaper and digital operations in 30 markets starting next week. Berkshire will continue to own BH Media, the publisher of the Omaha (Nebraska) World-Herald, the Waco (Texas) Tribune-Herald and the Richmond (Virginia) Times-Dispatch, among others. “I love our newspapers and am passionate…
[ad_1] Claire Wells, Director of Legal and Business Affairs at mobile payment company Circle, said a bitcoin price increase is likely but cryptocurrency regulation could play a key part. Ms Wells told Express.co.uk: “We are seeing slightly less volatility at the moment.” Bitcoin price hit a new low for 2018 over the weekend, sinking to…
[ad_1] Matthew Staver | Bloomberg | Getty Images Leslie ‘Les’ Moonves, president and chief executive officer of CBS Corp., right, speaks with Jeff Bezos, chairman, president and chief executive officer of Amazon.com Inc., at the Allen & Co. Media and Technology Conference in Sun Valley, Idaho, U.S., on Thursday, July 7, 2011. Tech giant Amazon…
[ad_1] Crude prices jumped on Tuesday after the U.S. State Department ordered companies to cut all of their oil imports coming from Iran to zero by November. West Texas Intermediate futures for August delivery traded 3 percent higher at $70.19 per barrel, erasing earlier losses and breaking above $70 for the first time since May…
[ad_1] Speaking on CNBC after the channel declared it was holding a “funeral” for the cryptocurrency after it fell to a low for the year, CNBC trader Brian Kelly told viewers: “This is not the funeral for bitcoin whatsoever. “We’ve had this big downtrend – 65, 75 per cent peak to down here – that…
[ad_1] President Trump dropped the biggest hint yet over how he will respond to the EU’s targeted tariffs on bourbon whiskey and Harley Davidson motorcycles by threatening to hit all imports of cars assembled in the EU with a 20 percent tariff. Mr Trump took the fight to Twitter and said: “Based on the Tariffs…
[ad_1] Bitcoin has endured a torrid month with prices falling to $5,786, the lowest point of the year so far after a spate of hack attacks on exchanges and lingering accusations of prices manipulation rock prices and investor confidence. However, a major Dutch bank has sent the crypto community a much-needed boost after finding that…
[ad_1] Bitcoin fell to a new low against the dollar this weekend, fuelling sentiment the currency is doomed to fail. Current estimations say bitcoin and other currencies will continue to slip until mainstream banking money arrives. Priced at $6,249 this morning, bitcoin managed to survive the weekend without any more major losses. The cryptocurrency is,…
[ad_1] The three will retain a 64 per cent stake in the behavioural science firm, set up in 2000 and valued at £145million. It has worked with 62 per cent of the FTSE 100 and 59 percent of S&P 100 companies, and posted pre-tax earnings of £7.9million on £37million revenue in the year to March.…
[ad_1] “In these circumstances the board has accepted Mr Shearwood’s resignation.” Stella David, formerly a Clarks senior independent director, has been made interim chief executive. Mr Shearwood was previously boss of retailer Karen Millen, joining Clarks in 2016. The nature of the allegations against Mr Shearwood were not disclosed. At the time he joined, Clarks…
[ad_1] Those who bought 10 or more products in-store or online, including at least one eligible branded product, were refunded the difference, up to £20, at the checkout. But less than one in eight transactions receives a refund. Tesco said it had reduced the price of more than 260 everyday products in the past month…
[ad_1] The company said each bike would cost an average £1,660 ($2,200) more exported from the US to Europe after tariffs rose 6 percent to 31 percent. Harley-Davidson will not raise prices and will take a $30-45million hit for the rest of this year. It said: “The huge cost increase, if passed onto dealers and…
[ad_1] With President Donald Trump threatening to turn a tit-for-tat tariff battle into a full trade war, targeting some of Germany’s key industries, business confidence in the eurozone’s top economy sunk in June to its lowest in more than a year as the mood among its top business chiefs darkens. The four sectors – manufacturing,…
[ad_1] This lack of definitive movement is down to negative economic news lowering demand for both the pound and the US dollar. In the UK’s case, this has been a warning from City of London Chair of the Policy and Resources Committee Catherine McGuiness. Ms McGuinness has described the government’s approach to business as ‘poor’,…
[ad_1] The pound might be slightly limited ahead of the crucial EU summit later this week, but it did manage to creep slightly higher against the euro on Tuesday morning thanks to ongoing optimism about a rate rise next month. Contributing to this anticipation was last week’s decision by BoE Chief Economist Andy Haldane to…
[ad_1] Each group possessing unique attitudes and characteristics which inform how they manage their money. Trend Spenders emerged as the most prominent – those who are ruled by their heart when it comes to money. These spenders don’t feel worried about loosening the purse strings as long as they can maintain their lifestyle. More people…
[ad_1] 8.00am MORNING HEADLINES Good morning, and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime. Bitcoin is priced at $6,249 this morning after the weekend wobbles passed without further losses. This week we’re responding to comment from Brian Kelly, founder and CEO of BKCM LLC, who replied to…
[ad_1] Shares in Britain’s biggest estate agent plunged 23½p to 55p as it said halfyear pre-tax earnings would fall to about £8million compared with £28million last time. The group, whose brands include Bairstow Eves and Hamptons, has been squeezed by a slowdown in the secondhand housing market and increased competition from online players such as…
[ad_1] Bitcoin, which fell below $6,000 on Friday for the first time since February, reached an all time high of around $19,500 last December. That’s a decline of nearly 70 percent. And it’s not just bitcoin. Ethereum, litecoin, bitcoin cash and ripple are down for the year as well. But crypto traders were optimistic on…
[ad_1] American Express shares jumped after the Supreme Court sided with it in a credit card fee lawsuit. In a five to four ruling, the Supreme Court said Amex rules regarding its services for merchants don’t violate federal antitrust law. Shares jumped 2.2 percent. The case centered on the fees that credit card companies charge…
[ad_1] Washington, D.C., may be calling the escalating trade tensions a negotiation, but Wall Street is saying the situation looks like a trade war, analyst Michael Farr told CNBC on Monday. In fact, there has been a shift in sentiment in the market since June 15, when President Donald Trump said the U.S. would slap…
[ad_1] David Paul Morris | Bloomberg | Getty Images A customer looks at a motorcycle on display at the Oakland Harley-Davidson dealership in Oakland, California, U.S., on Friday, April 14, 2017. Check out the companies making headlines after the bell: Shares of Harley-Davidson climbed as much as 1 percent in extended-hours trading. The popular motor…
[ad_1] J.P. Morgan Chase food and retail analyst Ken Goldman told CNBC that the packaged food sector is not likely to grow. “Unless something dramatic happens,” Goldman said Monday on “Power Lunch.” “I would count on very limited, you know, zero percent, maybe 1 percent growth with population, if they’re lucky,” he said. He said…
[ad_1] Jack Ma, the co-founder of e-commerce giant Alibaba, issued the warning about bitcoin while speaking at an event in Hong Kong. He said he was in favour of blockchain technology, but reiterated caution to people considering investing in bitcoin. Mr Ma told reporters: “Blockchain technology could change our world more than people imagine. “It…
[ad_1] President Donald Trump’s corporate tax cuts are probably here to stay but it’s likely a different story for his tariffs, Nobel Prize-winning economist Robert Shiller told CNBC on Monday. That’s because they are “too crazy,” said Shiller, a professor of economics at Yale University. “They are generating so much anger around the world. It’s…
[ad_1] The Federal Reserve’s effort earlier this month to tamp down the rise of its benchmark interest rate already isn’t running as smoothly as officials might have anticipated. At its June 12-13 meeting, the Federal Open Market Committee hiked its target overnight funds rate 0.25 points to a range of 1.75 percent to 2 percent.…
[ad_1] Matthew Busch | Bloomberg | Getty Images An employee uses a flash grinder to smooth out the frame of a sports utility vehicle at the General Motors assembly plant in Arlington, Texas. The proposed U.S. tariffs on car imports will have far reaching negative implications for the whole auto industry, according to Moody’s Investors…
[ad_1] Shares of Harley-Davidson plunged Monday after the iconic American motorcycle manufacturer said it will begin shifting some production overseas to offset the impact of retaliatory EU tariffs on certain U.S. goods. The statement is one of the first by a major U.S. company that implies the recently announced tit-for-tat tariffs will force it overseas,…
[ad_1] Chinese President Xi Jinping said last week that he will not hesitate to retaliate against the U.S. on trade, The Wall Street Journal reported Monday, citing sources. “In the West you have the notion that if somebody hits you on the left cheek, you turn the other cheek,” Xi said in the report, according…
[ad_1] Jack Ma’s Ant Financial is betting on blockchain but the Chinese billionaire warned against the technology’s first and most popular use case: Bitcoin. The financial-technology affiliate of e-commerce giant Alibaba launched a joint venture in Hong Kong Monday that uses blockchain for a cross-border remittance service. At the launch event hosted by Ant Financial,…
[ad_1] Dow Jones, which tracks 30 major publicly owned companies in the US, had fallen 421 points – a staggering 1.71 percent – as of 12.20pm Eastern Time (5.22pm BST). Experts warned this was due to Donald Trump’s trade war with China and the EU, with investors beginning to worry “this heated rhetoric” will continue…
[ad_1] The benchmark 10-year Treasury note yield has peaked for 2018 as trade worries, weaker emerging markets and a strong dollar cap the prior move upward in rates, according to Morgan Stanley. “We started to take note of a changing dynamic for global government bond markets in late April and early May,” the firm’s global…
[ad_1] GETTY All of them say they got verbal assurances from the company’s reps there was to be no minimum charge Some told of the toll the struggle is taking on their livelihoods – to the point where closure may be the only option open to them. “I’m facing real hardship but I don’t want…
[ad_1] CUTTING income tax for people earning more than £1million a year has deprived the Exchequer of over £11billion – while the pay of public sector workers has been capped, according to a study. [ad_2] Source link
[ad_1] Brown paper bags for greengrocer areas have been introduced into 493 stores, and will be rolled out to the rest by the end of the summer. The company has said that it hopes the move will stop the use of more than 150 million small plastic bags each year. Drew Kirk, the fruit and…
[ad_1] The “Options Action” traders share three options trading strategies to kick off the week. Carter Worth and Mike Khouw like Johnson & Johnson. Mike Khouw recommends selling call spread in Nike. Dan Nathan recommends a call calendar in Starbucks. Trader disclosure: On June 22, 2018, the following stocks and commodities mentioned or intended to…
[ad_1] Mrs Lagarde, visiting Dublin to mark 20 years since the adoption of the euro currency, was eager to champion the manner by which Ireland came out of the EU-IMF bailout in December 2013 following the eurozone’s sovereign debt crisis. However the IMF faces a u-turn on what now looks like overly “optimistic” growth GDP…
[ad_1] Microsoft’s transition into cloud-based technology opens up new, lucrative markets for the software giant, according to Atlantic Equities, which assumed coverage Monday at overweight. The company’s recent organizational changes to better capitalize on its cloud computing business – known as Azure – is set to be a key profit driver, analyst James Cordwell told…
[ad_1] A report from accountancy firm KPMG suggests that firms based solely in the UK have seen their performance and profits drop off as a result of unfavourable conditions. On the other hand, however, UK businesses with operations in the EU have benefitted from higher investment. Despite this, KPMG Chief Economist Yael Selfin has warned…
[ad_1] This is down from the last month’s 102.3 but above the market forecast of 101.7. Meanwhile, the current economic assessment reading missed expectations altogether, printing at 105.1 compared to May’s 106.1 and the forecast 105.6. These subpar results were attributed to diminishing business confidence in the shadow of a trade war with the US…
[ad_1] Despite a torrent of Brexit negativity, London has once again been identified as the most desirable global city by 366,000 workers from nearly 200 countries with the report citing the city’s prominence as a global financial, business and cultural capital. However, the report also pointed toward the UK’s fall from being the second-most popular…
[ad_1] The Baltic state has taken an open-arms regulatory stance on digital currencies and blockchain technology, with entrepreneurs converging on it and driving it towards becoming the cryptocurrency capital of Europe. Despite the volatile nature of digital currency values, the global market is worth $275 billion, and Lithuania is excelling in issuing new digital currencies,…
[ad_1] The German trade surplus is stifling the economic growth in the rest of Europe, Michael Ivanovitch writes. [ad_2] Source link
[ad_1] Ripple (XRP) appears to be back on track this week as the digital token posted strong charts after a difficult week of losses. The cryptocurrency has floated back into the green, with Ripple rising 3.82 percent to trade at $0.478946 as of 8am today. The rest of the market has also seen small gains,…
[ad_1] 8.00am MORNING HEADLINES Good morning, and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime. Bitcoin is currently priced at $6,159 after hitting a new low for 2018 on Sunday night. Jordan Hiscott, Chief Trader at ayondo markets has warned Express.co.uk that he expects prices to continue…
[ad_1] Experts say the Indian government’s latest plan may not be enough to fix its bad debt problems. Earlier this month, Piyush Goyal, India’s interim finance minister, revealed plans to set up an Asset Reconstruction Company or a “bad bank” aimed at absorbing the 9.5 trillion rupee bad debt in state-owned banks. Doing so would…
[ad_1] Lower like-for-like sales and weaker profits are bang on trend in UK high street retail at the moment. Marks & Spencer, House of Fraser and Poundworld are just three names where poor trading is forcing closures. Sources of the difficulties are well-documented. Doubts hang over the UK economy, and the rising cost of living…
[ad_1] Despite recent speculation around big-scale tie-ups – including reports that Barclays is eyeing Standard Chartered – Bob Moritz said smaller lenders were likely to star in the next string of acquisitions. “You’re probably going to see it more so in the mid-tiers regardless of the country, even though there’s lots of rumours with some…
[ad_1] So, the country is on a mission to deal with a few problems: A sales model for funds that isn’t attractive to investors, poor performing investments, and talent leaving the country. “There are too many distribution layers between investors and fund managers. And, in Japan, the distribution cost is very high,” Aritomo said, explaining…
[ad_1] Daniel Acker | Bloomberg | Getty Images An employee prepares a composite engine case component for inspection at the GE Aviation manufacturing facility in Batesville, Mississippi. General Electric may sell a unit that manufactures industrial engines to a private equity firm, The Wall Street Journal reported on Sunday, as part of a wide ranging…
[ad_1] Surprisingly, the lows might actually be a good thing for bitcoin, Kelly said. “When we start to declare a funeral and things get really horrible, sentiment is approaching the lows,” he said. “So hopefully, we’ll use that funeral bug to say, ‘Hey. You know what? That was near the lows.’” And, multiple exchange hacks,…
[ad_1] Brexit talks have since dragged, but the FTSE AllShare is up 30 per cent and three quarters of private investors say the vote has either had a positive impact on their investments or made no difference. While 86 per cent expected a negative impact before the referendum, only 25 per cent feel negative now,…
[ad_1] The brewer’s own research shows that more than half of adults plan to watch an England game at a pub and the better Gareth Southgate’s boys do, the more pints will be sunk. Analysts at Berenberg recently predicted Greene King could be the pub sector’s biggest World Cup winner, as it promotes football heavily…
[ad_1] THE OIL PRICE has finally gone into reverse, although you may not have noticed when you filled up your car on the forecourt. Supermarkets and other major retailers are notorious for instantly passing on higher wholesale prices to motorists, then taking several weeks to reluctantly pass on any price drop. [ad_2] Source link
[ad_1] GETTY SMTT figures show car sales have fallen 6.8 per cent so far this year Last week, four official committees raised serious concerns about the Government’s commitment to improving air quality, and motoring experts have subsequently said that its strategy lacks direction. Mike Hawes, chief executive of the Society of Motor Manufacturers and Traders…
[ad_1] GETTY Kehinde Agoro, who was tempted by an investment in St Lucia Another common factor is that most victims are contacted out of the blue, typically by telephone, email, text and in some cases, a knock on the door. Dodgy salesmen use a variety of methods to hook their victims, including “sure-fire” investment schemes…
[ad_1] More than 75 per cent voted for the restructuring deal, known as a company voluntary arrangement (CVA), which will see 31 of the 59 stores close and rents reduced on 10 of those remaining open. This was despite opposition from high street landlords, unhappy at having to shoulder the burden of financial losses. They…
[ad_1] Now might not be a good time to enter the market with new capital, an investor told CNBC. “We’re going from a Goldilocks economy with low interest rates, low inflation expectations, stellar corporate earnings to an economy that’s full of big bad wolves,” K.C. Mathews, chief investment officer at UMB Bank, said Friday on…
[ad_1] The founders of the Edge platform said they were expanding their platform to hold and trade ripple and monero due to a “strong demand” for the cyptocurrencies The wallet already supports bitcoin, bitcoin cash, dash, ethereum, litecoin, feathercoin, zcoin and now, the new additions monero and ripple. Edge also includes support for Segregated Witness…
[ad_1] Bonds issued by Walmart to fund its acquisition of Indian ecommerce company Flipkart contain controversial provisions that could be used to withhold compensation to investors if the deal is delayed. The big box retailer sold $8.5bn bonds on Wednesday whose documents contain legal language used recently by other issuers to avoid paying such compensation,…
[ad_1] The digital currency fell to $6,081, breaking below $6,400 for the first time in about a week and reaching its lowest level since February 6, according to CoinDesk. Japan’s largest crypto exchange, bitFlyer, was given an order by Japan’s Financial Services Agency to suspend the creation of new accounts while it makes improvements, especially…
[ad_1] The latest round of tit-for-tat tariffs hits U.S. consumers less but American companies more, an analysis shows. Consumer goods account for just 1 percent of items on the June 15 lists from the Office of the U.S. Trade Representative, down from 12 percent on the April 3 list, according to a report from the…
[ad_1] President Donald Trump said on Friday he wants OPEC to raise its oil production. “Hope OPEC will increase output substantially. Need to keep prices down!” Trump said on Twitter. Tweet Link OPEC announced from its meeting in Vienna that it would raise output, but it was unclear by how much. The official press release…
[ad_1] London’s Beavertown Brewery has sold a stake in its thriving business for £40million pounds ($52.44million) to dutch beer giant Heineken. The money will be used to build a new brewery and visitor site called ‘Beaverworld’. Beavertown, known for their popular Gamma Ray American Pale Ale and distinctive cartoon cans, is the brain child of…
[ad_1] The cryptocurrency market, particularly bitcoin, is suffering heavily this morning, with almost $17 billion being wiped clean off the market in 24 hours. BTC has dropped 6.54 percent today to trade at $6,291.80 as of 3pm today. The market is seeing significant losses as well, losing much of the gains made over the last few…
[ad_1] The “Fast Money” traders shared their first moves for the market open. Dan Nathan was a seller of the Financials ETF. Brian Kelly was a buyer of SPRD Gold Shares. Karen Finerman was a buyer of Citigroup. Guy Adami was a buyer of JetBlue. Trader disclosure: On June 21, 2018, the following stocks and…
[ad_1] House of Fraser is the latest victim of the high street’s demise after the famous company decided to close 31 of its 59 stores, including its flagship store on Oxford Street in London. The famous company, who began trading back in 1849, warned it did “not have a viable future” unless creditors and landlords backed its…
[ad_1] Bitcoin prices fell more than 5 percent on Friday after Japan’s financial regulator ordered several cryptocurrency exchanges to improve their practices against money laundering. The digital currency traded at $6,349 as of 7:45 a.m. ET, breaking below $6,400 for the first time in about a week, according to CoinDesk. The order from Japan’s Financial…
[ad_1] Daimler, which owns Mercedes, has plunged 4.2 percent on the stock market this week, BMW has shed 3 per cent and Volkswagen is down 3 per cent. And BMW warned of needing “strategic options” as trade tensions intensify. Daimler said in a statement: “Fewer-than-expected SUV sales and higher-than-expected costs — not completely passed on…
[ad_1] MSCI’s broadest index of Asia-Pacific shares outside Japan dropped as much as 0.35 percent at one point to touch its weakest since early December before erasing losses to be up 0.15 percent. Still it was 2.3 percent off for the week. Hong Kong’s Hang Seng plumbed six-month lows, having lost 3.9 percent so far…
[ad_1] IHS Markit’s composite reading improved from 54.1 to 54.8 in June, beating the market forecast of 53.9 but ultimately failing to ease concerns regarding 2018 growth for the bloc. The main contributor to this rise was a much improved service sector performance, whilst the manufacturing assessment saw a minor fall from 55.5 to 55.0.…
[ad_1] The pairing is also over a cent up from the seven-month low struck yesterday. The pound continues to press higher against the US dollar this morning, with the pound US dollar rate extending its gains after rocketed higher on Thursday, following the Bank of England’s (BoE) latest policy meeting. Sterling rapidly appreciated yesterday afternoon…
[ad_1] 8.00am MORNING HEADLINES Good morning, and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime. Bitcoin is priced at $6,649 this morning after another turbulent night sent prices back down, wiping away the gains from yesterday’s steady recovery. Yesterday, Bill Baruch, President of Blue Line Futures, told…
[ad_1] As for the argument that bull markets die in euphoria, Jainz said it was a question of looking in the right place: tech stocks. “Technology is undoubtedly in a bubble, and overheating phase. That is clear from looking at the gap between growth (e.g. tech) stocks and value (e.g. banks) which is at its…
[ad_1] The “Fast Money” traders shared their first moves for the market open. Pete Najarian was a buyer of Facebook. Karen Finerman was a buyer of Bank of America. Dan Nathan was a buyer of the Financials ETF. Guy Adami was a buyer of Halliburton. Trader disclosure: On June 20, 2018, the following stocks and…
[ad_1] Outlining the industry changes AXA is dealing with, the executive said customers now expect more from their insurers. In addition to financial compensation, people now want support to minimize the impact that an unfortunate incident has on their lives. That means, for example, health insurance must go beyond covering the treatment for illnesses to…
[ad_1] Jim Rogers is the latest investing guru to venture away from active management by attaching his name to an exchange-traded fund. The Rogers AI Global Macro ETF (BIKR) launches Thursday in New York. It’s based on an index that tracks a model Rogers, 75, and his team at Ocean Capital Advisors have created using…
[ad_1] It had warned investors to expect lower profits last month when it announced plans to shut 92 Carphone Warehouse stores amid rising costs and changing consumer habits. Alex Baldock, who joined as chief executive from Shop Direct in April, warned of a long haul turnaround but insisted its longer-term prospects were bright. Baldock said:…
[ad_1] General Electric may not break up entirely, but it is heading toward a significant announcement at the end of this month. [ad_2] Source link
[ad_1] Shares of mailing and shipping company Stamps.com dropped 10.2 percent on Thursday as the White House aims at revamping the U.S. Postal Service. The White House wants to return the U.S. Postal System to “a sustainable business model,” according to a list circulated by the Trump administration that included several other proposals, including merging…
[ad_1] Initial coin offerings (ICOs) continue to overflow the crypto universe, but bitcoin bull Brian Kelly told CNBC that the market is overvalued. He said investors are in a “wait-and-see mode.” “People are starting to say, ‘I’m going to put the brakes on the ICOs right now. I’ve got my portfolio. I don’t need a…
[ad_1] AFP | Getty Images Investors monitor stock prices at a securities company in Jiujiang, China, June 19, 2018. An exchange-traded fund tracking shares of large Chinese companies traded in Hong Kong has posted its longest losing streak since 2012. The iShares China Large Cap ETF (FXI) closed more than 2 percent lower Thursday. That…
[ad_1] Greek Finance Minister Euclid Tsakalotos said on Friday a deal extending and deferring repayments on part of Greece’s debt pile sent a clear signal to markets that the country had turned a corner from crises which rattled it in the past. Euro zone finance ministers on Friday offered Greece a 10-year deferral and maturities…
[ad_1] Joe Raedle | Getty Images Chipotle restaurant workers fill orders for customers on April 27, 2015 in Miami. Restaurants that take advantage of add-on menus, or low-priced items that diners can order as part of a larger meal, have been most successful, the analyst said. “You still have a low base price, but people…
[ad_1] Banks have cleared the Federal Reserve’s latest test of their ability to withstand another economic doomsday, but the real test for investors comes next week, when the banks reveal how much they are able to pay out in dividends and share buybacks. Test results made public on Thursday by the Fed show that large…
[ad_1] Check out the companies making headlines after the bell: Shares of Red Hat plummeted more than 11 percent in extended-hours trading, after the company reported better than expected first quarter earnings and revenue, but reported weak guidance. The software company earned 72 cents per share, beating analyst estimates of 69 cents per share. Red…
[ad_1] The era of the Federal Reserve approving what banks can return to shareholders in the form of dividends and stock buybacks should end, former Wells Fargo CEO Dick Kovacevich told CNBC on Thursday. “We’re a free enterprise system. There’s lots of capital in the system now, and banks should be allowed to return what…
[ad_1] JSW Steel USA is investing $1 billion in facilities in Mingo Junction, Ohio, and Baytown, Texas, President and CEO John Hritz told CNBC. “We are going to be hiring over 1,000 people,” Hritz said on “Closing Bell” on Thursday. The U.S. steel mill, headquartered outside Houston, produces hot-rolled plates and pipes. The capital expansion…
[ad_1] IN THE 1990s America and Europe had a trade dispute over bananas. No one worried that tanks might soon roll as a result. But trade is about more than economics. The European Union, the world’s most ambitious free-trade area, was founded on the idea that trade integration would make war between members “not merely…
[ad_1] IT IS becoming increasingly likely that the phoney trade war between America and China will develop into the real thing. On June 15th the Trump administration published two lists of Chinese products it plans to hit with tariffs of 25%, worth $50bn in 2018. The first will come into force on July 6th. The…
[ad_1] IMAGINE if Milton Friedman had been put in charge of a central bank, only to lose his job for expanding the money supply too quickly. Or if Robert Shiller, the Nobel-prizewinning author of “Irrational Exuberance”, were given a similar post, only to depart having allowed a stockmarket bubble to inflate. That is the kind…
[ad_1] UNTIL recently the Abraaj Group, a private-equity firm based in Dubai, was riding high. It was one of just a few such firms focused on emerging markets, and a darling of “impact investors”, who seek social or environmental returns, not just financial ones. Assets under management of $13.6bn made it the largest private-equity firm…
[ad_1] “QUANT” (quantitative) hedge funds, which craft elaborate algorithms to make trading decisions, rely on access to information. That used to mean market data, such as prices and trading volume. But some now seek an edge in novel sources. An industry has sprung up to serve them with, and help them analyse, “alternative” data, such…
[ad_1] THE president of the European Commission, Jean-Claude Juncker, likes to compare the euro zone to a house in need of repair. Fix the roof, he counsels, while the economic weather is favourable. Leaders from across the European Union will have the opportunity to take that advice when the European Council meets in Brussels on…
[ad_1] ULF DANIELSSON is thinking of buying a holiday home—or even a new house, so that he, his wife and two children can have a garden and more space than in their flat in Uppsala. He can afford either, he says, and as a professor of astrophysics is surely able to work that out. But…
[ad_1] IN his book about the use of language, “The King’s English”, Kingsley Amis describes a tug-of-war. On one side are “berks”, careless and coarse, who would destroy the language by polluting it. On the other side are priggish “wankers”, who would destroy it by sterilisation. Get our daily newsletter Upgrade your inbox and get…
[ad_1] FOR now, at least, when speaking of the trade dispute with America, China’s government is taking a more-in-sorrow-than-in-anger tone. That helps explain the Chinese public’s surprisingly measured views of Donald Trump, and gives the Chinese government some breathing room to consider its options. The state media have so far taken the high ground. True,…
[ad_1] Roger Burnley and his Sainsbury’s counterpart Mike Coupe were grilled by members of the Environment, Food and Rural Affairs committee over how they could achieve their pledge to cut some prices by 10 percent. When Mr Burnley said that the two companies would “absolutely continue to operate as two separate brands”, committee chairman Neil…
[ad_1] President Nicolas Maduro said workers would also receive 2.2 million bolivars in meal tickets, taking total minimum wage compensation to 5.2 million bolivars — around $1.98 per month on the black market. The once-prosperous OPEC (Organisation of the Petroleum Exporting Countries) country’s annual inflation is now nearly 25,000 percent, according the opposition-run legislature, and…
[ad_1] EU leaders will be watching how Mr Trump will respond after the US hit back against China’s retaliation with a further $200billion tariffs. With markets braced for a US-led global trade war, the EU will begin charging import duties of 25 percent on a range of US products tomorrow. The European Commission confirmed today…
[ad_1] Economists said it provided reassurance the sector, which generates about 10 percent of UK output, had not run out of steam after official figures showed it contracted by 1.4 percent in April from the previous month. The CBI’s Head of Economic Intelligence c said:“The recovery in orders and a return to bumper growth in…
[ad_1] But chairman Tony Pidgley warned: “London starts are about 30 percent lower than two years ago. It is telling that some funders and builders are choosing to exit the market when faced with the degree of risk and regulation that now confronts development… macro and political uncertainty are leading to caution. “One year ago,…
[ad_1] The UK defence giant, which won the deal after teaming up with Iveco Defence Vehicles, has options to provide 204 vehicles, which have three crew and 13 embarked Marines, potentially worth $1.2billion. “We are well positioned and ready to build the future of amphibious fighting vehicles for the Marine Corps, having already produced 16…
[ad_1] Markets are confident that today’s meeting will not result in any policy changes from the bank, however investors will be on the lookout for any signals that policymakers are considering a rate hike in the near future. Markets are currently split on the possibility of the BoE targeting a rate hike in August, but…
[ad_1] An interest rate hike today is not expected, but some economists are pricing in a rate hike soon, among them is Standard Chartered Bank’s Sarah Hewin. She said: “We think August – we think there is still enough momentum in the economy for the policymakers to believe that they need to start to nudge…
[ad_1] Shocking new figures revealed today show that despite Germany’s fear taxpayers would pick up the bill for the crisis in Greece, Angela Merkel’s nation has actually made money on the massive sums sent to Greece. In response to parliamentary question from the Green Party, the German government released figures today showing that Berlin has…
[ad_1] The Monetary Policy Committee has voted by a majority of 6-3 to maintain Bank Rate at 0.5 percent. The committee also voted unanimously to maintain the stock of corporate bond purchases and UK government bond purchases. Alistair Wilson, Head of Retail Platform Strategy at Zurich, told Express.co.uk: “The Bank of England’s decision to hold…
[ad_1] The retailer’s results come a week after it revealed a major cyber attack. Alex Baldock, chief executive of Dixons Carphone, said the company had “plenty of work to do” in the wake of the attack, which saw 5.9 million customer bank card details and 1.2 million personal data records hacked. Dixons said profits for…
[ad_1] 8.00am MORNING HEADLINES Good morning, and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime. Bitcoin is up slightly on the day so far at $6,761, with Ethereum at $542 and Ripple at $0.54. As prices flatten out, one expert suggested today that bitcoin’s decrease in volatility…
[ad_1] Chinese smartphone maker Xiaomi has lined up $548 million from seven cornerstone investors including U.S. chipmaker Qualcomm for its Hong Kong IPO of up to $6.1 billion, according to a term sheet seen by Reuters. Xiaomi, which also makes internet-connected devices, has set a price range of HK$17 to HK$22 ($2.17 to $2.80) each…
[ad_1] Disney increased an earlier $52.4billion offer, which now includes cash as well as shares, trumping an all-cash hostile $65billion approach from US cable giant Comcast tabled last week. The assets up for grabs include Fox’s 39 per cent stake in satellite broadcaster Sky, as well as The Simpsons, National Geographic and The Hollywood film…
[ad_1] Bitcoin made a comeback despite crashing after a recent hack on a South Korean exchange, and two cryptocurrency traders explained why it rebounded. Charlie Lee, the founder of Litecoin, a global decentralized currency that is based on blockchain technology, said it was to be expected. “Whenever there’s an exchange hack, people get scared and…
[ad_1] Check out the companies making headlines after the bell: Shares of Barnes & Noble shot up nearly 8 percent in after-hours trading. The popular bookseller chain saw its sales and earnings rise significantly in its fourth quarter. HP shares gained nearly 3 percent in extended trading. The hardware technology manufacturer authorized an additional $4…
[ad_1] The stock market may be on the verge of an even deeper decline. Federated Investors’ Phil Orlando is out with a note suggesting a cruel summer for stocks has arrived. “We’re expecting an air pocket here that will take the market down to let’s say the 200-day moving average over the summer months,” the…
[ad_1] The number of Americans seeking Social Security disability benefits is plunging, a startling reversal of a decades-old trend that threatened the program’s solvency. It is the latest evidence of a stronger economy pulling people back into the job market or preventing workers from being sidelined in the first place. The drop is so significant…
[ad_1] Hong Kong’s capital markets development also comes as Western institutional investors are increasingly interested in international opportunities, and Beijing looks to open up its financial markets to foreign investors. “In general there is a huge battle for capital,” said Sebastien Lieblich, managing director and global head of equity solutions at MSCI. “There is clearly…
[ad_1] For a president that has otherwise been extremely friendly to business and stocks, new research by CNBC shows Mr. Trump’s trade policies have cost markets trillions of dollars and created head-spinning volatility. There have been 35 moves of 1 percent or more in the Dow Jones industrial average so far this year. CNBC found…
[ad_1] The acting director of the Consumer Financial Protection Bureau says until the agency breaks out of Senator Elizabeth Warren’s shadow, it cannot operate as a “gold-standard” regulator. “We are still Elizabeth Warren‘s baby,” CFPB Acting Director Mick Mulvaney said at the Future of Fintech conference in New York Wednesday. “Until we break that we…
[ad_1] The “Fast Money” traders shared their first moves for the market open. Pete Najarian was a buyer of Microsoft. Tim Seymour was a buyer of Starbucks. Steve Grasso was a buyer of Lennar. Guy Adami was a buyer of Tenet Healthcare. Trader disclosure: On June 19, 2018, the following stocks and commodities mentioned or…
[ad_1] Cryptocurrency traders saw a small rise in price today, with bitcoin leading the charge back into positive results. The cryptocurrency market has been recovering from a significant sell-off period that saw prices drop by more than a third in June. Bitcoin has jumped up 0.67 percent to trade at $6,787.78 as of 7.30pm. The…
[ad_1] Wall Street veteran Art Cashin told CNBC he’s “stunned” Walgreens was added to the Dow Jones industrial average, replacing GE. Drugstore chain Walgreens Boots Alliance, with a market capitalization of $64 billion, compared with General Electric‘s $110 billion market cap, was not the obvious choice, said Cashin, managing director of UBS Financial Services. But…
[ad_1] Deutsche Bank upgraded Citigroup shares to buy from hold, noting the stock could get a boost from beaten-down levels given upcoming stress test results and a better business environment. Citi shares are down 17 percent from their 52-week high hit in late January, underperforming Bank of America and J.P. Morgan Chase by 9 percent…
[ad_1] At that meeting, FOMC officials indicated they were likely to approve two more rate increases, bringing the 2018 total to four. Markets, though, have remained unconvinced, with the futures market assigning just a 50.9 percent chance to a fourth hike, according to the CME’s FedWatch tool. Powell spoke at length about the jobs market,…
[ad_1] Big lenders, including Bank of America and Wells Fargo, have already rolled out virtual assistants to millions of retail customers, but the technology is just making its way to corporate clients, who present bigger challenges for artificial intelligence programmers. For instance, while a checking customer typically has a handful of accounts, a company could…
[ad_1] Chinese acquisitions and investments in the U.S. fell 92 percent to just $1.8 billion in the first five months of this year, consulting and research firm Rhodium Group said Tuesday. Counting divestitures, net Chinese deal flow to the U.S. during that time was a negative $7.8 billion, the report said. The decline follows a…
[ad_1] A seaworthy plan should include compensation for on-board medical appointment and treatment expenses, and for cabin confinement because of illness or poor weather. Emergency transport from the ship to a hospital or repatriation home can literally be a lifesaver. Specialist cruise insurance may also include cover for all preexisting medical conditions, said GoCompare spokesman…
[ad_1] Ashtead hires out equipment ranging from diggers and concrete mixers to sewer cameras and heaters for killing bed bugs. Annual underlying pre-tax profit at the FTSE 100 firm, which generates the bulk of its business with Sunbelt in the US and operates as A-Plant in the UK, grew by 21 per cent to £927.3million…
[ad_1] A former digital boss at M&S the retail chain, whose top sellers include Percy Pig sweets and cashmere jumpers, should work with Amazon to make up lost ground with online shoppers. Marcus East, who led the firm’s digital strategy under former chief executive Marc Bolland, said: “I would agree that for a lot of…
[ad_1] Its pre-tax loss in the year to March 31 widened from £9.5million to £10.1million on 24 per cent lower revenue of £35.7million. Trading since has been worse than expected due to “insufficient investment and late placing of orders with suppliers”. Mr Davies said: “The situation was similar to trying to book a table at…
[ad_1] Such trading can be expensive and keeping gold bars at home is impractical and a security risk. However, you can now invest cheaply and easily without the worry that burglars might break in to grab your valuable investment. The Pure Gold Company, BullionVault and the Royal Mint allow you to invest small sums without…
[ad_1] The womenswear retailer lifted annual underlying pre-tax profit by 27 percent to £8million. Store sales fell 4.5 percent but online business grew by 34.5 percent. Shares rose 7½p to 110p. Chairman John Coleman said the expected increase in the number of people aged over 50 makes the firm’s market positioning increasingly attractive. He said…
[ad_1] Replacing traditional metal doorplates, they act as dispensers that once pressed work in seconds to reduce bacteria levels by 90 over per cent. “We break the cycle of infection from when someone washes their hands to when they touch a contaminated door,” says company chief executive Brian Waligora. “It’s the only product of its…
[ad_1] The ECB’s President Mario Draghi was forced to slash growth forecasts for the bloc from 2.4 percent to 2.1 percent last week as concern mounts over Italy’s threats to leave the euro, and fears of a trade war sparked by the US-led Trump administration. Veteran European Central Bank policymaker Ewald Nowotny has now warned the…
[ad_1] Economists at the leading accountancy firm say that despite obvious “jitters” over the UK’s future relationship with the EU, the UK “is back on course for a steady yet unremarkable growth performance over the next two years.” Yael Selfin, chief economist at KPMG in the UK, said: “A cold wave in February and March…
[ad_1] Lacking much in the form of significant data releases today investors have instead focused on the looming parliamentary clash and ongoing trade concerns between the US and China. UK Prime Minister Theresa May is vying to defeat Conservative rebels on an attempt to give MPs a “meaningful vote” before Britain can leave the EU…
[ad_1] Brexit is in the spotlight, following Monday’s House of Lords vote when peers opposed the government and sent a Brexit amendment back to the House of Commons. The amendment concerns what powers MPs will have if the government is unable to secure a Brexit deal, or if no deal is reached by 21 January…
[ad_1] 8.00am MORNING HEADLINES Good morning, and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime. Bitcoin is currently price at $6,618, with Ethereum at $523 and Ripple at $0.53. Hack attack South Korean exchange Bithumb said in a notice on its website on Wednesday that it had…
[ad_1] Shares in the FTSE 250 company sank 22¼p to 108¼p, their lowest since it listed in November 2015 at 180p. It has begun the search for a successor to Clive Fenton, 60, who took over four years ago having spent nearly three decades with Barratt Developments. He will step down at the end of…
[ad_1] Shares plummeted by almost 20 per cent after bosses revealed this year’s pre-tax profits will be between £35 and £40million – significantly less than a previous estimate of £50.3million. Sales at the department store chain have fallen 1.7 per cent over the last 15 weeks, compared with the same period last year. However, there…
[ad_1] The unearthing of the fraud in January has not only exposed shortcomings in the management of PNB, but has also undermined confidence in India’s state-run banking sector, which controls over two-thirds of the nation’s bank assets. The damning conclusions of the report stand in contrast to the lack of regulatory action taken by the…
[ad_1] Already, Trump threatened to pull the U.S. out of the North American Free Trade Agreement and antagonized key trading partners like Canada, Mexico and the EU by slapping tariffs on their steel and aluminum. Trump says he wants to rebalance what he calls unfair U.S. trade deficits. But U.S. fiscal policies like massive deficit…
[ad_1] Worries about a U.S.-China trade war hit global markets Tuesday, following a war of words between the Trump administration and Beijing. It has been a journey of more than two years for the White House’s efforts to reduce the U.S. trade deficit with China, which rose to $375.2 billion in 2017 from $347 billion…
[ad_1] Check out the companies making headlines after the bell: Walgreens Boots Alliance stock increased as much as 4.5 percent in extended hours trading, before giving up some of its gains. The pharmaceutical store chain is set to join the Dow Jones industrial average prior to trading on June 26, replacing long time Dow member…
[ad_1] The market erased its gains for the year after Tuesday’s dip, but the economy remains on solid footing, analysts said. “We are seeing a lot of capital expenditures,” Karyn Cavanaugh, senior market strategist at Voya Investment Management, told CNBC. “We are seeing companies going out there and spending more. That’s going to increase productivity.…
[ad_1] There is a “much bigger issue” for the market than concerns about trade, investing expert Richard Bernstein told CNBC on Tuesday. In fact, over the last three to four months, almost every sizeable market sell-off has come from pro-inflation policies out of Washington, D.C., the CEO and chief investment officer of Richard Bernstein Advisors…
[ad_1] In response, the Chinese Commerce Ministry said the latest threat of more tariffs violates previous negotiations, and Washington “has initiated a trade war that violates market laws and is not in accordance with current global development trends.” Blankfein, who is preparing an exit from his job after a 12-year tenure as CEO, said this…
[ad_1] Wells Fargo said Monday it is considering restructuring and possibly combining two of its retail brokerage businesses, a move to increase efficiency among the two legacy units. The two divisions — the private client group overseen by David Kowach and wealth brokerage services overseen by Jay Welker — have long overlapped. Both employ financial…
[ad_1] Frances McDormand, the actress who won an Academy Award this year for her performance in “Three Billboards Outside Ebbing, Missouri,” introduced much of the world to a new idea when she accepted her Oscar. “I have two words to leave you with tonight: inclusion rider,” she said. Throughout Hollywood, the concept of an inclusion…
[ad_1] Investors shouldn’t overreact to the back and forth trade retaliation announcements between the U.S. and China, according to top market veterans. Several of the most successful investors in the world predicted the two economic superpowers will eventually reach a deal after some short term saber rattling. Trade tensions with China rose to new highs…
[ad_1] The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of Alphabet. Brian Kelly was a buyer of Bitcoin. Dan Nathan was a buyer of PayPal. Guy Adami was a buyer of Apache Corporation. Trader disclosure: On June 18, 2018, the following stocks and commodities mentioned or…
[ad_1] The Trump administration’s history with trade has been volatile for stocks, usually sending them lower at first, but investors who have bought equities on those dips have been rewarded. The Dow Jones industrial average, S&P 500 and Nasdaq composite this year dropped on average at least 0.4 percent immediately after an announcement on trade…
[ad_1] J.B. Forbes | St. Louis Post-Dispatch | TNS | Getty Images Truck driver Marion Howard watches soy beans load into his truck on Wednesday, Oct. 11, 2017, at Chris Crosskno’s farm near Denton, Mo. Soybean futures plunged Tuesday to their lowest in more than nine years following renewed concerns about a U.S.-China trade war.…
[ad_1] Despite the dominance of large technology companies in the stock market’s gains over the last year, small company stocks are forecast to do better if trade war fears come to pass. Small company stocks have already been outperforming the broad market because of tax cuts and regulatory reform. The iShares ETF tracking the Russell…
[ad_1] A senior German government official has confirmed eurozone members are looking at ways to stabilise Greece as it prepares a return to the bond markets to take on debt for public spending. Eurozone finance ministers will discuss debt relief for Greece on Thursday to ensure the country can return to market financing after eight…
[ad_1] Verizon was the only member of the Dow Jones Industrial Average trading significantly into the green on Tuesday after Deutsche Bank upgraded the wireless provider, saying the shares were relatively cheap. The stock gained 1.8 percent Tuesday, also boosted by investors betting that its domestic revenues will be shielded from fears of a trade…
[ad_1] CYBG said buying its FTSE 250 rival would create “the UK’s first true national competitor to the large incumbent banks” – Lloyds, Barclays, Royal Bank of Scotland, HSBC and Santander – combining its own business banking and innovative technology with the “iconic” Virgin Money national brand. Investors in Virgin Money, which bought Northern Rock…
[ad_1] David Paul Morris | Bloomberg | Getty Images Brian Krzanich, chief executive officer of Intel Corp., holds up a 49-qubit superconducting quantum test chip named ‘Tangle Lake’ while speaking during a keynote address at the 2018 Consumer Electronics Show (CES) in Las Vegas, Nevada, U.S., on Monday, Jan. 8, 2018. By revenue, chipmakers face…
[ad_1] Customers who take both fuels will see bills rise by an average of £55 (4.8 percent) while there are price hikes of £36 (6.2 percent) for electricity-only customers and £19 (3.3 percent) for gas-only customers. The company said the new prices will come into affect on August 16. E.ON UK chief executive Michael Lewis…
[ad_1] The Munich-based IFO Institute for Economic Research said it expected the German economy to grow by 1.8 percent this year and in 2019, a big revision downwards from previous forecasts of 2.6 percent and 2.1 percent respectively. IFO economist Timo Wollmershaeuser said: “The economy developed significantly more weakly than anticipated in the first few…
[ad_1] The pound has slumped to a new seven-month low against the US dollar this morning after the Government faced another setback in the passing of its EU Withdrawal Bill. This comes after the House of Lords sent the Bill back to the lower house as peers objected to parts of the legislation passed last…
[ad_1] Mr Trump has once again unexpectedly escalated the pending trade war between the US and China after acting in retaliation, he said, to Beijing’s decision to raise tariffs on $50 billion in US goods, after the president announced similar tariffs on Chinese goods on Friday. The tit-for-tat trade hostilities have gathered pace recently with…
[ad_1] The pairing was limited by yesterday’s downgraded British Chambers of Commerce growth forecast but supported by a mixed-sentiment speech from ECB President Mario Draghi at the ECB Forum on Central Banking. Lacking much in the form of data today, investors have been left to focus on a round of speeches from European Central Bank…
[ad_1] Stock markets across the world have dipped sharply lower as investors increasingly fear Donald Trump is poised to start a trade war by slapping tariffs on a number of products the US imports in significant volumes. David Madden, market analyst at CMC Market told the BBC: ”Tensions between the US and China are escalating,…
[ad_1] 8.30am MORNING HEADLINES Good morning, and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime. Bitcoin enjoyed a mini price spike late last night after New York’s Department of Financial Services granted a virtual currency license to Square, developers of the popular ‘Cash’ app. Cash has 7…
[ad_1] FilmMagic | HBO | Getty Images Elon Musk speaks on stage during the Westworld Featured Session during SXSW at Austin Convention Center on March 10, 2018 in Austin, Texas. Tesla continues to struggle with controversy. Over the weekend, actress Mary McCormack shared a video of her husband’s Tesla car on fire in Southern California.…
[ad_1] ON JUNE 13th the Federal Reserve raised its benchmark interest rate by a quarter of a percentage point, the seventh such increase since it began shouldering rates away from zero in December 2015. Markets shrugged—a rather different reaction from the one that followed a policy adjustment made five years ago this month. The chairman…
[ad_1] ADE AYEYEMI’S office in Lomé, the capital of Togo, is a good place to think about crossing borders. Ghana is ten minutes’ drive away. From his window the boss of Ecobank can watch trucks rumble along the seafront, some bound for Burkina Faso, a day’s journey, or Mali, perhaps another day on. At night,…
[ad_1] THE teller at ICBC, China’s (and the world’s) biggest bank, ushers a new, well-heeled customer into a private room. It is not for VIP treatment but a stern warning. The customer wants to invest in products offering higher returns than a basic savings account. The teller fixes a camera on her and reels off…
[ad_1] IF THERE is a single example of how dramatically the regulatory environment has changed for American banks in the past 18 months, it may be the trickle of information that has recently emerged about an inquiry into their sales practices. The Office of the Comptroller of the Currency (OCC), a banking watchdog, began it…
[ad_1] THERE is a type of footballer who inspires the affection of fans and the ire of coaches. He is talented, usually extravagantly so. But he is also wayward to the same lavish degree. Discipline seems beyond him, on or off the pitch. It was said of one of this kind, Stan Bowles of Queens…
[ad_1] “JUSTIN has agreed to cut all tariffs and all trade barriers between Canada and the United States,” claimed President Donald Trump to laughter on June 8th, at the G7 summit in Quebec. The next day, in apparent seriousness, Mr Trump—who has slapped tariffs and quotas on imports of aluminium and steel from all the…
[ad_1] IMAGINE the tale of Sisyphus, the mythical king doomed to spend eternity pushing a boulder up a hill only for it to roll back down, retold by Kafka. The result would be very like the tortuous story of Andreas Georgiou, Greece’s former statistics chief. Since 2011 Mr Georgiou has faced several criminal charges. One…
[ad_1] THE canteen of Stockholm University could scarcely be more Swedish. Young blond students sip coffee and tap away on Macs. In room 3.89, an outpost of the campus, is another, newer Sweden. Refugees, all of them teachers, from lands far to the south and east are preparing for the classrooms of their new home.…
[ad_1] The cyber gap, the difference between the demand for cyber security professionals and their supply, is projected to reach 1.8million by 2022, with women currently only make up 20% of the industry’s workforce. Women in Cyber, the Department of Culture, Media and Sport sponsored training programme, converts candidates into an entry level cyber security…
[ad_1] Check out the companies making headlines after the bell: Tellurian dropped more than 5 percent in extended hours training. The natural gas company announced on Monday a public offering of 12 million common stock. The company said in its prospectus that it “intends to use the net proceeds from this offering for general corporate…
[ad_1] The big bank stocks aren’t having a great year, but there are plenty of opportunities in the banking sector if investors look beyond the largest names, noted analyst Dick Bove told CNBC on Monday. Citigroup is down more than 10 percent for the year and Goldman Sachs has fallen 9 percent year to date.…
[ad_1] Sergio Ermotti, CEO at Swiss financial services giant UBS Group, said Monday he’s concerned that trade threats between the United States and China could “get out of control.” Wealthy investors are holding more cash just in case of a full-blown trade war, Ermotti told CNBC’s Michelle Caruso-Cabrera in an interview that aired on “Squawk…
[ad_1] Minasse Wondimu Hailu/Anadolu Agency | Anadolu Agency | Getty Images Crown Prince of Abu Dhabi Mohammed bin Zayed Al Nahyan (L) meets Ethiopian Prime Minister Abiy Ahmed (R) at National Palace in Addis Ababa, Ethiopia on June 15, 2018. The United Arab Emirates (UAE) is to deposit $1 billion in Ethiopia’s central bank to…
[ad_1] At a conference held by a top investment bank in Manhattan last week, attendees were asked to submit what they thought was the biggest risk to the global economy. When their concerns showed up on the conference screen, these words were the most popular: Trump, trade war and protectionism. Outside, meanwhile, the stock market…
[ad_1] Fears over a potential trade war are dampening the prospects for above-trend economic growth, Atlanta Fed President Raphael Bostic said Monday. At a time when most economists have substantially boosted their outlooks for GDP gains, particularly in the second quarter, the central bank official cautioned that the enthusiasm could be misplaced. “I began the…
[ad_1] A growing number of US hedge funds specializing in distressed debt are raising money in anticipation that the next economic downturn will punish companies that have borrowed record amounts since the financial crisis. Jason Mudrick, founder of $1.9bn Mudrick Capital, is marketing a second distressed investment fund, according to people with knowledge of the…
[ad_1] The generic ballot, which asks voters if they prefer a Republican or Democratic majority in Congress, peaked at a 12 percentage point Democrat advantage in December but has come back down to 5 to 6 percentage points, Goldman said. “Beyond polling, primary and off-cycle elections provide some useful information and generally support the conclusion…
[ad_1] The delay has increased by two days in recent years, said finance firm Funding Options. Construction businesses are waiting longer to pay suppliers, which could threaten the financial stability of a supply chain and cost jobs, it was warned. Large construction firms can stipulate long repayment terms, with small suppliers to Carillion having to…
[ad_1] Payment company Square got the green light from regulators Monday allowing New Yorkers to trade cryptocurrency on the rapidly growing Cash app. While Square launched crypto trading through its payments app in late January, that feature had been unavailable in New York. “That was one of the missing pieces in their puzzle,” Nomura Instinet…
[ad_1] Shares of Rent-A-Center soared more than 20 percent on Monday after the rent-to-own retailer announced it is being acquired by Vintage Capital Management. Vintage Capital will pay $15 per share in cash for the company, which went public in 1995. Including debt, the deal is valued at around $1.37 billion. The acquisition is expected…
[ad_1] The pound US dollar exchange rate dropped sharply last week from $1.344 to $1.321. This latest weakening puts Sterling at a rate of $1.324. BCC forecasts have been the main negative influence on the pound so far today, with analysts cutting their 2018 UK GDP growth estimates from 1.4 percent to 1.3 percent. In a…
[ad_1] Mr Conte, who was a little-known law professor before taking office this month at the head of an anti-establishment coalition, is meeting the German Chancellor today for top level talks, following talks with French President Emmanuel Macron in Paris last Friday. Mr Conte leads a government backed by the 5-Star Movement and the far-right…
[ad_1] Transport for London (TfL), said the contract would allow Siemens Mobility Limited to push ahead with its plan to build a new factory in Goole, east Yorkshire, in northern England and create about 1,700 UK jobs both directly and indirectly. TFL said in a statement: “The Siemens Mobility Limited factory would employ up to…
[ad_1] Research by law firm Irwin Mitchell and the Centre for Economics and Business Research suggested that Exeter will experience the biggest growth by the end of the year. York, Cambridge and Exeter make up the top three locations expecting the biggest increase in workforce numbers. Irwin Mitchell’s Victoria Brackett said: “The study makes for…
[ad_1] The fashion chain once had plans to build a sprawling store portfolio in the Asian powerhouse, and was aiming to open 500 outlets to capitalise on the country’s growth prospects. However chairman Alistair McGeorge, who rejoined the business in November last year, told reporters the retailer is looking at “downsizing” its estate. “We are…
[ad_1] Investors were spookedby concerns that Britain could be facing its weakest growth levels since the financial crisis. The BCC has arguing that Brexit uncertainty and the possibility of a global trade war might weigh on consumer spending. This resulted in the UK’s 2018 GDP growth forecast being downgraded from 1.4 per cent to 1.3…
[ad_1] Germany’s DAX index declined 0.8 percent, weighed down by worries a crisis over migration policy could destabilise Chancellor Angela Merkel‘s three-month-old coalition government. One senior EU official warned they cannot “solve” Germany’s “domestic issues”. The biggest losers on the German index were software maker SAP, industrial group Siemens and sportswear brand Adidas, all down…
[ad_1] Product Designer and Partner at Atlas Neue, Cassius Kiani, said bitcoin could soon start to “take off”. Speaking to Express.co.uk, Mr Kiani said: “I think it will go way beyond this year and the reason I think that is because if you look at the adoption of blockchain technology in 2018 it’s much higher,…
[ad_1] As the second half of the year approaches, investors are looking at what might impact their investments. From trade issues to political uncertainty and central bank policy, there are a number of factors to assess. Nonetheless, the consensus view suggests that a growth re-acceleration is underway, with profits to be made in the equity…
[ad_1] MORNING HEADLINES Good morning, and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime. Bitcoin starts the week at $6,441 after a rather flat weeked fails to deliver any price shift in either direction. The big news today comes from the Swiss-based Bank for International Settlements (BIS)…
[ad_1] TUESDAY’s half-year results from Crest Nicholson suggested the Goldilocks conditions housebuilders have been enjoying might be coming to an end. Rising property prices have been boosting revenues in recent years, while a massive supply/demand imbalance means there’s been appetite for as many houses as the industry can churn out. [ad_2] Source link
[ad_1] The body said debit card use overtook cash for the first time as the most frequently used payment method in the UK in the final quarter of 2017. The tipping point happened a few months earlier than it had previously forecast. The boom in contactless payments across the UK is a key driver of…
[ad_1] Cryptocurrencies are not scalable and are more likely to suffer a breakdown in trust and efficiency the greater the number of people using them, the Bank of International Settlements said on Sunday in its latest warning about the rise of virtual currencies. For any form of money to work across large networks it requires…
[ad_1] How about having a different conversation, such as: (a) Do Europeans understand that their large and systematic trade surpluses with the U.S. are wrong, unfair and damaging to the U.S. economy?; (b) If they do, what corrective measures, and over what period of time, are they prepared to balance their trade accounts with the…
[ad_1] He said the firm, which has 18 stores in cities across the US, wants to have physical retail space in Britain before the end of the year. Eis, who heads the firm’s international business, said: “We’re looking for an offline partner in the UK. What we are after is to have either showrooms or…
[ad_1] The bull market is entering a new phase, but PNC Financial’s Jeffrey Mills believes that’s no reason to get negative on stocks. In an interview on CNBC’s “Futures Now,” the firm’s co-chief investment strategist acknowledged it will be hard to replicate last year’s record gains. He referred to 2018 as a “reset year” as…
[ad_1] GETTY The situation will only improve when the Bank of England increases base rates. These bonds have been particularly popular with older savers, especially those who wanted to put away large amounts without stock market risk and appreciated the security of a government backstop. Savers also suffered another blow last week as in action…
[ad_1] Bitcoin is slowly gaining traction again today, as prices lift across the cryptocurrency market. BTC saw a rise of 0.79 percent today, trading at $6,520.46 as of 3.30pm today. The rest of the cryptocurrency market has seen marginal gains as well, with Ethereum trading at $500.86, Ripple at $0.525847 and Litecoin for $96.45. The…
[ad_1] GETTY Research for the Sunday Express reveals that many investors fear the rise of the machines. They claim they can do just as good a job as the real thing and, by undercutting charges, deliver better investment returns. However, exclusive research for the Sunday Express reveals that many investors fear the rise of the…
[ad_1] On Wednesday Sainsbury’s chief executive Mike Coupe and his asda counterpart Roger burnley will appear before the environment, food and Rural affairs Committee. They will be joined by Sainsbury’s director Judith batchelor, as well as asda sustainable business director Chris brown. MPs plan to quiz them on what impact the mega merger will have…
[ad_1] The deficit for the 2017/18 financial year was £40.5 billion, £4.7 billion below the office for Budget responsibility’s (OBR) forecast, while in April, the Government recorded a larger than expected fall in monthly borrowing. Both have raised hopes that borrowing for the current financial year can come in below the offcial target of £37.1…
[ad_1] The popularity of Metaxa 12 Stars among customers looking to “drink less but better” and fans of artisanal drinks and cocktails are the driving forces behind Rémy’s plans for the spirit, which aim to take it beyond its traditional Greek restaurant heartland. Managing director Stéphanie Ancel said: “Metaxa 12 Stars is experiencing a faster…
[ad_1] The CVA will allow the retailer to axe unprofitable stores and slash the rent it pays on a number of others. However, a number of landlords intend to vote against the CVA, as they feel it unfairly inflicts losses on them, while sparing all of the other creditors. The fact that House of Fraser’s…
[ad_1] “I was of the view that the Fed will and should only go twice. Based on the recent data, it looks like the third hike is hard to argue against,” said Joe LaVorgna, chief economist for the Americas at Natixis. “I just don’t see the Fed being able to go as much as they…
[ad_1] The University of California is just one elite US establishment now offering a course on digital currencies, along with Pennsylvania, New York and Stanford universities. Demand from younger students has also prompted some high schools to start offering non-curricular educational sessions. New Jersey teacher Timothy Breza told CNN earlier this year crypto is now…
[ad_1] Sales at Booker, included in the group for the first time, jumped 14.3 per cent on the back of new business wins. Booker has been using space in some Tesco warehouses to speed up deliveries to customers, while Tesco has begun selling dozens of the cash and carry group’s best-selling items in some stores…
[ad_1] The regulator found that EDF failed to meet its annual installations target for 2017. The regulator said: “Ofgem is closely monitoring suppliers’ approach to the rollout of smart meters and will hold suppliers to account if they do not meet their obligations.” EDF will pay the money into Ofgem’s consumer redress fund, which supports…
[ad_1] The Office of the U.S. Trade Representative said Friday that the U.S. will initially impose a set of tariffs on 818 items worth about $34 billion on July 6. Separate measures worth about $16 billion could take effect following a review and public comment process. China quickly struck back, announcing a 25 percent levy…
[ad_1] VCG | VCG | Getty Images An investor obverses the screen at an exchange hall on the first day of Shenzhen-Hong Kong Stock Connect on December 5, 2016 in Nanjing, Jiangsu Province of China. The iShares China Large-Cap ETF (FXI) fell more than 1.5 percent in midday Friday trading, tracking for its first seven-day…
[ad_1] Despite the ubiquity of mobile payments, a top executive at Venmo says the world is still a few generations away from abandoning cash altogether. “It’s a matter of time — but it’s going to be a long time, not a next year kind of thing,” said Michael Vaughan, the chief operating officer of Venmo,…
[ad_1] The economy is a bigger challenge to the stock market than a possible trade war, veteran strategist Jim Paulsen told CNBC on Friday. He anticipates real gross-domestic-product growth will hit 4.5 percent in the second quarter. On top of that there is a tight labor market, with the unemployment rate at an 18-year low…
[ad_1] Shares of apparel maker Canada Goose skyrocketed on Friday after the company reported a surprise quarterly profit. The Toronto-based company reported adjusted fiscal fourth-quarter earnings of 9 cents Canadian per share. Analysts polled by Reuters had expected a loss of 10 cents. Canada Goose’s revenue also more than doubled in the quarter to CA$124.8…
[ad_1] In a quick response to U.S. tariffs, Beijing announced on Friday its own duties on American products, including the politically sensitive areas of agriculture products and automobiles. The Chinese State Council’s commission on tariffs and customs said in an online statement that a 25 percent tariff will take effect July 6 on agriculture products,…
[ad_1] The U.S. economy is likely growing faster than expected, according to an economic model from Goldman Sachs. The firm raised its second-quarter GDP tracking model growth forecast to 4 percent from 3.9 percent on Friday, citing strong manufacturing economic data. The model incorporates the latest monthly economic releases to produce a GDP growth estimate.…
[ad_1] Several of President Donald Trump’s advisors are pushing him to pardon Michael Milken, Bloomberg News reported Friday. Michael Milken, 71, was known as the “junk bond king” in the 1980s and was convicted for securities fraud. Bloomberg said former White House communications director Anthony Scaramucci, Treasury Secretary Steven Mnuchin, senior advisor Jared Kushner and…
[ad_1] Donat Sorokin | TASS | Getty Images Girls take a selfie by the Russia 2018 sign of the 2018 FIFA World Cup in Yekaterinburg, Russia. Twitter shares could add to strong gains this year as the World Cup spurs engagement and continued strength in ad sales gives the social media company a revenue boost,…
[ad_1] The IMF’s damning assessment of the global consequences of a US-led global trade war come as the White House prepares to announce another $50 billion (£38 billion) volley of tariffs on US goods, later today. China is expected to retaliate in turn while the EU and Mexico are also preparing a slew of expensive…
[ad_1] Mrs Merkel, speaking at an event to mark 70 years of Germany’s “social market” economic model, gave a clear indication of EU leaders’ preparation plans to defend themselves and then retaliate against US tariff measures on goods. The EU is preparing to push back against President Trump’s claim that the US steel and aluminium…
[ad_1] The “Fast Money” traders shared their first moves for the market open. Tim Seymour is a buyer of Cemex. David Seaburg is a buyer of Adobe. Brian Kelly is a buyer of the SPDR Gold ETF. Guy Adami is a buyer of Cypress Semiconductor. Trader disclosure: On June 14, 2018, the following stocks and…
[ad_1] Simon Dawson | Bloomberg | Getty Images Microprocessors sit on a circuit board labelled ‘true Automotive Ethernet’ at the NXP Semiconductors NV pavilion at the Mobile World Congress in Barcelona, Spain. Shares of NXP Semiconductors rose in extended trading Friday amid conflicting reports about whether Chinese regulators have approved Qualcomm‘s proposal to acquire the…
[ad_1] Carlos Barria | Reuters President Donald Trump and China’s President Xi Jinping chat as they walk along the front patio of the Mar-a-Lago estate after a bilateral meeting in Palm Beach, Florida, U.S., April 7, 2017. China’s Commerce Ministry said Friday that it will respond immediately on the same scale to the Trump administration’s…
[ad_1] The US is bring the world’s leading economic powers ever closer to a protectionist trade war as the Trump administration prepares to announce a new list of products from China to be targeted with a 25 per cent duty. The list is expected to contain everything from pharmaceuticals to flat screen televisions. The US…
[ad_1] The ECB has laid out plans to end its stimulus program, now money managers are assessing how this affects investments. [ad_2] Source link
[ad_1] Euro investors remained browbeaten on Friday morning, with yesterday’s run of dovish comments from European Central Bank (ECB) President Mario Draghi leaving the single currency on a poor footing. Whilst the central bank did announce that it will be tapering its quantitative easing scheme after it expires in September, Mr Draghi also said that…
[ad_1] Bitcoin saw its price multiply 13 times last year to hit $19,000 as a new generation of speculators jumped on the crypto bandwagon but a new report published by University of Texas claims to have found proof that bitcoin’s price was manipulated during market downturns, using Tether, a cryptocurrency pegged to the US dollar.…
[ad_1] Much of the US dollar’s strength has been driven by the sharp fall in the euro on Thursday, which occurred in the wake of the European Central Bank’s (ECB) latest policy meeting. With the US dollar and euro being the most traded currency pairing in the world, demand for the US dollar soared in…
[ad_1] The cryptocurrency market suffered a rollercoaster start to 2018 but appears to be back on the rise after a hacking scandal forced a sharp fall in price. Prices are creeping back into the green for most of the top cryptocurrencies this week, posting small gains of one or two percent in the early hours. Prices dropped when South…
[ad_1] As the German economy continues to falter as global trade war fears mount, the Bundesbank has announced that it expects German GDP growth of 2.0 percent this year, a significant climb-down from the 2.5 percent it forecast in December. Bundesbank President Jens Weidmann has warned that the German Eurozone’s largest economy is back under pressure…
[ad_1] Retail sales volumes rose for a second straight month in May, growing by 1.3 per cent from the previous month compared with forecasts of 0.5 per cent, according to the Office for National Statistics. Compared with a year earlier, the amount of goods purchased jumped by 3.9 per cent, while in the three months…
[ad_1] Japan’s central bank maintained its ultra-loose monetary policy on Friday and downgraded its view on inflation, signalling that it will lag well behind its U.S. and European peers in rolling back crisis-era stimulus. Markets are on the lookout for clues from BOJ Governor Haruhiko Kuroda’s post-meeting briefing on how long the central bank could…
[ad_1] See which stocks are posting big moves after the bell. [ad_2] Source link
[ad_1] The latest HMRC figures show collections, from December to April, of £3.291 billion on wine and spirit duties, up from £3.224 billion on the same period last year – a 2% increase. Wine and spirit duty collections continue to increase to record levels. The Treasury is set to cash in on a projected £7.7…
[ad_1] When it comes to a media bidding war, it’s good to be the middlemen. Wall Street banks including Goldman Sachs, Bank of America and Wells Fargo stand to split as much as $480 million in fees if Comcast’s $65 billion offer for Twenty-First Century Fox’s film and cable assets is accepted, according to estimates…
[ad_1] Yet former female traders interviewed by Reuters describe an industry, which has left behind discriminatory attitudes common only a decade ago, but where women remain heavily outnumbered and can sometimes feel like outsiders in a “boys’ club.” Simmy Grover, who worked as an equity trader at Morgan Stanley in London between 2006 and 2009,…
[ad_1] Andrew Harrer | Bloomberg | Getty Images Jerome Powell, chairman of the U.S. Federal Reserve, walks through the Rayburn House Office building before a House Financial Services Committee hearing in Washington, D.C., U.S., on Tuesday, Feb. 27, 2018. In a move that it had telegraphed ahead of time, the Fed’s policymaking Federal Open Market…
[ad_1] Daniel Acker | Bloomberg | Getty Images Customers pull a dinnerware set from a shopping cart outside of a Kohl’s store in Peru, Illinois. Kohl’s stock has gotten ahead of itself, and it’s time to “step aside,” according to Citigroup, which downgraded the company to neutral from buy on lingering fears of weak traffic.…
[ad_1] The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of JPMorgan. David Seaburg was a buyer of Carter’s. Dan Nathan was a seller of the Russell 2000 ETF. Guy Adami was a buyer of Nuance. Trader disclosure: On June 13, 2018, the following stocks and commodities…
[ad_1] “The U.S. media industry is slowing. Linear ratings are down, … cord cutting is certainly growing, cord shaving is growing. What I think Comcast sees is: ‘Look, the U.S. industry is slowing. How do we take advantage of what we do really well and replicate it all over the world where there’s more growth…
[ad_1] John Janedis, an analyst at Jefferies, said in a note that buying Fox would be “immediately accretive” to Comcast’s free cash flow and earnings per share, noting it would boost both metrics by mid-to-high single-digit percentage points. He also said Comcast addressed some of the regulatory concerns initially raised by Fox, “making it difficult…
[ad_1] Nicolas Koutsokostas | Corbis | Getty Images A farmer holds a Greek flag in front of parliament during a protest against the government’s tax and social security reforms on February 14, 2017 in Athens, Greece. Greece’s parliament on Thursday passed a fast-track reform package to unlock bailout funds and wrap up a fourth and…
[ad_1] From next month, Deliveroo, which works with more than 10,000 restaurants in the UK, is to sign up a further 5,000 eateries who use their own delivery fleet. Until now, only restaurants that agreed to use Deliveroo’s network of 15,000 couriers could be listed on its takeaway app. It expects to take on thousands…
[ad_1] Biffa grew underlying operating profit by 10 per cent to £81.2 million on 8.8 per cent higher revenue of £977.7 million in a year when it completed seven acquisitions. More are planned for this year. Chairman Ken Lever said: “Ian can feel extremely proud of what he has achieved at Biffa. “He will be…
[ad_1] UK retail sales were flat at £106.3 million in the year to March 31, but are down by 9 per cent in the 10 weeks to June 2. Group pre-tax profit fell from £7.5 million to £6.9 million. A Mulberry spokesman said: “The UK retail environment has become more challenging with lower domestic footfall.”…
[ad_1] A Japanese government source has revealed to Reuters Tokyo has informed the World Trade Organisation (WTO) over its intention to stand alongside the EU and take part in ending a dispute that holds grave repercussions for the future of global trade. The source said: “We are in the same situation as the other countries,…
[ad_1] Joseph Stiglitz, the former chief economist of the World Bank, said the eurozone had utterly failed to “enhance solidarity and advance the goal of European integration”, in a damning indictment for the single currency just a day before the European Central Bank debates how and when it can end its quantitative easing policy designed…
[ad_1] The ECB has decided that Eurozone’s economic fundementals are strong enough for it to first halve and then end its massive bond-buying stimulus programme that was due to run out in September. ECB president Mario Draghi faced a tricky vote on monetary policy at a meeting in Riga, Latvia today. The key topic up for…
[ad_1] The pound saw a 0.40 per cent climb against the US dollar this morning, with Sterling bulls pleased to see a surge in the latest raft of UK ecostats. According to the Office for National Statistics (ONS), retail sales in the UK increased by 4.4 per cent year-on-year, up from the previous period’s rise…
[ad_1] Speculation has been rife in recent weeks that this month’s meeting could see the ECB outline a timetable for exiting its post euro-crisis stimulus programme. Some analysts are forecasting the ECB may announce plans to wind down QE by the end of 2018, taking the first step towards dismantling its ultra-loose monetary policy and…
[ad_1] The majority of cuts will be made in the UK, where it has 26,000 employees from a golobal total of 55,000. In a statement, the engineering company said around 1,500 jobs would be lost by the end of this year alone. The cuts and overhaul of its business will cost it £500 million and…
[ad_1] Bond market volatility is on the verge of a comeback, according to Sit Investment Associates’ Bryce Doty. On CNBC’s “Futures Now,” Doty predicted the 10-year Treasury yield won’t stay under 3 percent much longer. “It’s going to be kind of turbulent,” the senior portfolio manager said Tuesday. “I’m still expecting some more white-knuckle moments.”…
[ad_1] Grantham has been outspoken about his concerns over climate change for years. In 1997, he started the Grantham Foundation for the Protection of the Environment, which gives money to entities that look to protect the environment. Grantham’s company also launched the GMO Climate Change fund last year, which invests in wind and solar companies.…
[ad_1] “U.S. District Court Judge Richard Leon ruled that AT&T’s acquisition of Time Warner is legal and did not impose conditions on the merger’s approval, which we think bodes well for CVS’ pending acquisition of Aetna,” Cowen’s Charles Rhyee said in a note. The Department of Justice sued to block the media deal, claiming that…
[ad_1] President Donald Trump is again blaming OPEC for high oil prices, even though crude futures have recently retreated from 3½-year highs on reports that his administration asked Saudi Arabia to manage the market. “Oil prices are too high, OPEC is at it again. Not good!” Trump tweeted Wednesday morning. U.S. crude oil futures were…
[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 seller of Netflix. Steve Grasso was a buyer of Lennar. Guy Adami was a buyer of CBS. Trader disclosure: On June 12, 2018 , the following stocks and commodities mentioned or…
[ad_1] When the first quarter reports about bank loans became available, there was a big surprise. The biggest banks in the country were losing market share to their smaller competitors. In the 12-month period from March 2017 to March 2018, the four big universal banks grew their loan portfolios by 3.1 percent. Conversely, the 39…
[ad_1] Shares of Chinese after-school operator Tal Education plunged Wednesday after short seller Carson Block compared practices at the company to the financial fraud at Enron. The U.S.-listed shares of Tal closed nearly 10 percent lower after briefly falling more than 15 percent in morning trading. As of Wednesday’s close, the stock was up almost…
[ad_1] This break below $6,450 confirms bitcoin’s downtrend, according to one Fundstrat analyst. “The declines over the past few days [have] done significant technical damage to most crypto currency charts,” Robert Sluymer, managing director and technical analyst at Fundstrat Global Advisors said in a note to clients Wednesday. “Breaking below the April lows confirms a…
[ad_1] [The stream is slated to start at 2:30 pm ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chairman Jerome Powell fielded comments from reporters after the central bank concluded its two-day meeting Wednesday. Markets had widely anticipated that the central bank’s policymaking Federal Open…
[ad_1] The Federal Reserve raised its outlook on U.S. economic growth on Wednesday. The median real GDP forecast rose to 2.8 percent, up from 2.7 percent, for this year. There were no changes for 2019 and 2020, and the longer run median forecast remained 1.8 percent. Economic activity has been rising at a “solid” rate,…
[ad_1] A hack on a South Korean exchange appears to have knocked investor confidence, causing the cryptocurrency market to continue to dip in value. A popular exchange named CoinRail suffered an attack on Sunday, which has resulted in a predicted loss of $28million altcoins. Altcoins are a lesser known version of bitcoin, built on the…
[ad_1] However, Powell said not to read too much into it. “Having twice as many press conferences does not signal anything about the timing or pace of future interest rate changes,” he said. “This is only about improving communication.” The news conferences began under former Fed Chairman Ben Bernanke, who held them to explain the…
[ad_1] He’s still banking on what he’s calling the “trade of the year,” which is a bet that German bond prices will fall while U.S. Treasurys will rise. The 10-year German bund yield is nearly 0.50 percent, while the 10-year Treasury yield is close to 3 percent right now, he pointed out. Bond yields move…
[ad_1] Aaron P. Bernstein | Reuters Jerome Powell looks on after a swearing-in ceremony February 5, 2018 at the Federal Reserve in Washington, DC. Markets increased their expectations for a fourth interest rate hike this year after the Federal Reserve released its statement and economic projections on Wednesday. Fed funds futures showed the odds for…
[ad_1] The three-day event taking place in south-east London from Friday June 15 to Sunday kicks off with a seminar and business advice sessions, followed by an outdoor exhibition and market in Woolwich’s main General Gordon Square featuring a host of African products and services. The Trade Expo provides a showcase for the wealth of…
[ad_1] The committee said economic growth has been “rising at a solid rate,” an upgrade from “moderate” in May. The unemployment rate has “declined,” as opposed to “stayed low,” and household spending “has picked up,” an upgrade from “moderated.” With that in mind, the committee said two more rate hikes were appropriate, bringing the 2018…
[ad_1] The FOMC released its quarterly economic forecast, which includes the dot plot of where members anticipate rates to head. [ad_2] Source link
[ad_1] Revenue was up 13 per cent to £473.8million. Chief executive Patrick Bergin said: “Our experience of generally flat pricing against a backdrop of continuing build-cost inflation has had an adverse impact on margins. We will invest in areas of greater housing affordability. “We’re preparing also for a world where, even if the Brexit solution…
[ad_1] In May, Tesla posted first-quarter results showing the company made a record £523m ($710m) net loss after burning through a massive £549m ($745.4) cash pile attempting to ramp-up production of its highly-anticipated Model 3 sedan. Billionaire chief executive Elon Musk said the job cuts are part of a simplification of Tesla’s management structure promised…
[ad_1] This decline is down to continued negative sentiment from Tuesday’s UK wage growth slowdown, as well as today’s unimpressive inflation figures. The rate of price growth in the UK has remained steady for May’s readings, printing at 2.4 per cent on the year and 0.4 per cent on the month. Overall, annual UK inflation…
[ad_1] Gary Smith, who worked for Pimlico Plumbers for nearly six years from 2005, previously won a number of court rulings which determined he could claim “worker” status, even though he was described in his contract as a “self-employed operative”. Those were upheld unanimously by five Supreme Court justices, who rejected an appeal by Pimlico…
[ad_1] Although Bulgaria’s Finance Minister Vladislav Goranov rejected recommendations from the European Commission and the European Central Bank that it must first enter the banking union in order to join the single currency, the minister has now compromised by claiming that Bulgaria will seek to join both at the same time within the next year.…
[ad_1] The head of Europe’s rescue fund told an audience of bankers in Athens that he is optimistic as Greece prepares to exit its third bailout programme in August at which point it can raise money for some much-needed public spending on bond markets to cover its borrowing needs. Greece still has the highest debt-to-GDP…
[ad_1] The Luton-based budget airline said expansion of the London hub would lead to greater competition from more low-cost carriers. It is urging MPs to support the third runway in the forthcoming Commons vote. Chief commercial officer Robert Carey said: “This expansion would enable low cost airlines to provide new routes and increased competition on…
[ad_1] The deal – agreed in April – is set to save £500million and shoppers have been promised price cuts of up to 10 per cent. It will make the new firm Britain’s biggest supermarket, overtaking current market leader Tesco. The two supermarkets are likely to still be run as separate entities and there have…
[ad_1] Rachel Osborne, a former Vodafone and John Lewis executive who took home pay of £584,000 in 2017, left after serving less than two years in the role on Monday by mutual agreement saying: “I’ve very much enjoyed my time and look forward to pursuing other career opportunities.” Her predecessors Paul Doughty and Sean Wilkins…
[ad_1] “Nothing beats a local bricks and mortar presence, especially if it can be immortalised on Instagram,” declare co-owners and sisters Lois and Michela Wilson who include more eateries and a hotel in their £1 million venture capital investment plan. No fans of hipster minimalism – “Why should customers pay a premium for bare wood…
[ad_1] After a decade of static house prices in the north and rapidly rising prices in London and the south, the long-standing north-south gulf in house prices is beginning to narrow in some of the UK’s most desirable postcodes, according to research carried out by online estate agents HouseSimple.com. Chelsea – the area in SW6…
[ad_1] The pound is trending lower against the euro this morning, giving up much of yesterday’s gains as the UK’s latest inflation figures failed to impress. According to data published by the Office for National Statistics (ONS) the UK’s inflation rate held at 2.4 per cent in May, falling short of forecasts for a modest…
[ad_1] Bitcoin suffered a major blow this weekend after a South Korean exchange was hacked. The cryptocurrency market reacted negatively, losing significant gains throughout the week to reach a 70-day low. Bitcoin prices plummeted another 3.85 percent this morning to trade at $6,607.16 as of 8.30am. The rest of the market has tumbled alongside BTC…
[ad_1] These also included inconsistent pricing between stores and online offerings as it took on online-only rivals and being too slow to capitalise on key trends. But executive chairman Alistair McGeorge, brought back to lead a turnaround late last year following an earlier successful stint between 2011 to 2014, insisted substantial improvements had been made…
[ad_1] One in four people says they would travel abroad without insurance, despite 3,000 Britons a week claiming for emergency medical treatment on holiday, with Spain, Greece and France generating the most claims. The average medical claim amounts to more than £700, which is more than the average weekly UK wage, according to the research…
[ad_1] GETTY STOCK Be careful how much assistance you give to children and grandchildren Growing numbers are giving a living inheritance to their loved ones to help with education fees, a deposit on their first home or to clear debts. Careful use of gifting can also reduce an estate’s future liability to inheritance tax (IHT),…
[ad_1] Media and telecommunications stocks shot higher in extended trading Tuesday after a federal judge ruled in AT&T’s favor on its $85 billion deal to acquire of Time Warner. Time Warner shares traded more than 5 percent higher in aftermarket trading. The widely anticipated ruling comes amid pent-up interest in forging combinations across the entertainment…
[ad_1] In December, the crypto reached a record high of $19,511 (£14,588), the culmination of the hype over the alternatives to traditional currencies. Today, the price of BTC dropped as low as $6,498 (£4,858). This brings the downward slide for the year to more than 50 percent already. Bitcoin’s all-time low came in February when…
[ad_1] The historic bull market in U.S. equities is maturing, but that doesn’t mean there isn’t room for more upside, according to Barclays’ new U.S. stock strategist. “It’s late, but the party’s still going,” Maneesh Deshpande said in a note to clients Monday. “We think we are just entering the late stage despite more than…
[ad_1] Zhang Peng | LightRocket | Getty Images Robots dance during a consumer electronics expo at the Beijing China National Convention Center on Jul. 8, 2017 in Beijing, China. Daniel Kahneman, a Nobel Prize winning economist, said Tuesday financial advisors still play a major role in the finance world — despite recent technological disruptions in…
[ad_1] Jones founded the Robin Hood Foundation, which focuses on eliminating poverty in New York City. And on Wednesday, Goldman Sachs is launching an exchange-traded fund focused on social impact, which uses a model from Jones’ foundation, Just Capital. It scores businesses on factors including worker treatment, environment and products and tracks a selection of…
[ad_1] The U.S. Senate Banking Committee on Tuesday voted to approve Richard Clarida and Michelle Bowman as Federal Reserve governors, sending their nominations to the full senate for a confirmation vote. The Republican-controlled committee advanced Clarida’s nomination 20-5 and Bowman’s 18-7. Seven of the panel’s 12 Democrats backed Clarida and five voted in favor of…
[ad_1] The “Fast Money” traders shared their first moves for the market open. Pete Najarian was a buyer of Micron. Tim Seymour was a buyer of the Consumer Discretionary ETF. Karen Finerman was a seller of the S&P Regional Banking ETF. Dan Nathan was a buyer of AT&T. Trader disclosure: On June 11, 2018, the…
[ad_1] The surge indicates investor optimism after the Trump-Kim summit in Singapore, which should see tensions between the US and North Korea simmer down. The US currency rose to its highest level since May 23, reaching 110.495 against the Japanese yen, while the Asian currency has dropped as haven demand eases. President Trump praised the…
[ad_1] These came as a bit of a blow to Sterling as well as UK workers as the Office for National Statistics (ONS) reported that domestic wage growth – excluding bonuses – unexpectedly slowed from 2.9 per cent to 2.8 per cent in April. While this keep wages ahead of inflation at 2.4 per cent,…
[ad_1] According to the Office for National Statistics (ONS), wage growth in the UK has slowed, although the British economy has continued to create new jobs. Basic pay growth (excluding bonuses) eased from 2.9 per cent to 2.8 per cent in the three months to April, whilst total pay growth also dropped, falling to 2.5…
[ad_1] Citigroup’s investment banking business could shed as much as half of its 20,000 technology and operations staff in the next five years due to automation, the Financial Times reported on Monday. Operational positions were the “most fertile for machine processing,” the FT reported, citing Jamie Forese, chief executive officer of the bank’s institutional clients…
[ad_1] The price of bitcoin may sink even lower, cryptocurrency trader Ran Neu-Ner says. “We keep going down, and we’re testing new lows,” Neu-Ner said Monday of the cryptocurrency market on CNBC’s “Fast Money.” “Sixty-two-fifty is the next point,” said Neu-Ner, who is host of CNBC Africa’s “Crypto Trader.” “If it goes under that, we’re…
[ad_1] Small business optimism rose in May to its highest in more than 30 years, helped by all-time highs in some key index components, the National Federation of Independent Businesses said Tuesday. Expectations for business expansion and reports of positive earnings trends hit record highs, while expectations for strong increases in real sales reached their…
[ad_1] Qilai Shen | Bloomberg | Getty Images President Donald Trump, right, and Xi Jinping, China’s president, greet attendees waving American and Chinese national flags during a welcome ceremony outside the Great Hall of the People in Beijing, China, on Thursday, Nov. 9, 2017. The battle between China and the United States to be the…
[ad_1] Mainland Chinese stocks led Asian market gains on Tuesday after the highly anticipated meeting in Singapore of U.S. President Donald Trump and North Korean leader Kim Jong Un. Both signed an agreement that reaffirmed “unwavering commitment to complete denuclearization of the Korean Peninsula.” But the document offered few details. The Shanghai composite climbed 0.9…
[ad_1] The budget retailer appointed Deloitte as administrators, casting doubt over the future of its 335 stores and 5,100 jobs. Last-ditch rescue talks with R Capital broke down over the weekend. Poundworld’s losses widened in 2016-17 to £17.1million, from £5.4 million the year before. The news came just days after House of Fraser detailed its…
[ad_1] Two years ago JLR, owned by India’s Tata Motors, said the £1billion Nitra plant in Slovakia would “complement” its UK operations, with the Discovery built in both locations. The Solihull factory will be used to build new Range Rover and Range Rover Sport models, with upgraded facilities designed to allow for electric and hybrid…