Daimler has set a new target of saving 4 billion euros ($4.8 billion) by 2025 to help offset the lower profitability of electric cars, which at first may only earn half the margin of equivalent vehicles with combustion engines. The company’s Mercedes-Benz brand is preparing to launch the “EQ” electric car, which shares the underpinnings […]
Read moreIf you subscribe to Nobel Prize winner Paul Samuelson’s philosophy that “investing should be more like watching paint dry or grass grow,” then you’re likely drawn to indexing. Given the sheer number of index funds, an all-index portfolio is not hard to come by. “For the vast majority of investors, putting together a simple, straightforward […]
Read moreCheck out which companies are making headlines before the bell: Insurance stocks – Florida-based insurers and their reinsurers are in focus today as the impact from hurricanes Irma and Harvey is assessed. Among them: HCI Group, Universal Insurance Holdings, Heritage Insurance, XL Group, and Everest Re Group. Johnson & Johnson – J&J’s Janssen pharmaceutical unit […]
Read moreChina’s clampdown on cryptocurrencies has reportedly taken a new direction – to close down local bitcoin exchanges. Initial reports from Chinese media that the government plans to close down domestic cryptocurrency exchanges have seen the virtual coin shed more than $100 since Friday. Bloomberg and the Wall Street Journal also reported Monday that that the […]
Read moreCurrency, United States Finance
Repeal Bill: Here's how British lawmakers may blow Brexit off course
British lawmakers are poised to have a big say over Brexit on Monday, as MPs divide on the European (Withdrawal) Bill for the first time. Britain’s Parliament will vote Monday evening on whether the ruling right-wing Conservative Party should have the power to transfer laws from Brussels to Britain in order to prepare for Brexit. […]
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Roche slumps on another drug setback as sales forecasts come into question
Roche shares tumbled to rank among the worst performers in European trade on Monday following news of the failure of trials for its skin cancer treatment Zelboraf. The disappointing results came alongside confirmation that similar products from compatriot and rival Novartis had met their aims. Roche shares were trading 1.35 percent underwater by 12:30 p.m. […]
Read moreWhen the federal, state and local governments in Florida and Texas total the bills from hurricanes Irma and Harvey, the Federal Reserve is going to be forced to put any further interest rates this year on hold, closely watched contrarian strategist Mark Grant told CNBC on Monday. “With the cost of Harvey and now the […]
Read moreA veteran Wall Street forecaster is out with a warning, and it has nothing to do with a broad-based stock market sell-off. Wunderlich Securities’ Art Hogan is arguing you’ll “get your face ripped off if you’re in the wrong sector.” The issue has to do with the lengthy low-yield environment. He says the impact would […]
Read moreNearly three-quarters of Americans are willing to pay increased taxes or tolls to fund roads and other transportation infrastructure, according to a survey from HNTB Corp. to be released on Monday that was seen by Reuters. The number rises to 84 percent if those tax and toll hikes are mandated by law to be spent […]
Read moreHurricane Irma’s path of destruction up Florida’s Gulf Coast on Sunday threatens to disrupt a thriving state tourism industry worth more than $100 billion annually just months ahead of the busy winter travel season. Some of the state’s biggest attractions have announced temporary closures, including amusement park giants Walt Disney World’s Magic Kingdom, Universal Studios, […]
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