There’s a lot of hurricane damage to come between the Fed and its next interest rate hike. Hurricane Harvey has already heated up inflation, hit industrial production, and dampened retail sales, and that was just the late August data — before Hurricane Irma rampaged across Florida this month. Economists expect the storms to shave a […]
Read moreIf investors only paid attention to the aggregate data released by the government, CNBC’s Jim Cramer would imagine they’d be huge pessimists about the state of the economy. “This morning we got retail sales numbers that were baffling. They were for the month of August and they fell by 0.2 percent. That’s very subpar. Then […]
Read moreAt Upload, the parties never seemed to stop. The start-up began by hosting impromptu gatherings to promote virtual reality as the next big thing. It quickly became an entertainment and news hub for the VR industry, hosting hundreds of events. The crowds were young and eager to network. Models did demos, and the liquor flowed. […]
Read moreThe only thing changing faster than who is winning the race in the cutthroat world of ride hailing are the shifting behind-the-scenes allegiances between those companies and investors. At the moment, Uber, the ride-hailing behemoth, is nearing a deal to receive billions of dollars in funding from SoftBank, the Japanese conglomerate, according to three people […]
Read moreInvestors may have grown hesitant about a merger between CBS Radio and Entercom Communications, but CNBC’s Jim Cramer thinks they may have been wrong to worry. The deal would combine the spun-off CBS Radio with Entercom, creating an entity that could reshape the U.S. radio industry. Entercom’s stock surged over 10 percent when news of […]
Read moreMajor League Baseball said it’s fining the Boston Red Sox for misusing Apple Watches against the New York Yankees. The investigation follows a New York Times report that the Red Sox used an Apple Watch to steal signals from the Yankees. A Red Sox trainer was caught looking at his watch and then relaying a […]
Read moreTwo Equifax executives are retiring, effective immediately. The credit reporting company announced last week it suffered a massive data breach. Chief information officer David Webb will be replaced by Mark Rohrwasser, who has led Equifax International IT operations since joining the company in 2016. Chief security officer Susan Mauldin will be replaced by Russ Ayres, […]
Read moreJPMorgan’s top quant strategist backed his boss this week in bashing bitcoin, warning that the cryptocurrency is likely a “pyramid scheme.” Marko Kolanovic, the bank’s global head of quantitative and derivatives strategy, said in a note on Wednesday that in addition to being volatile and difficult to value, “another worrying aspect of cryptocurrencies are some […]
Read moreKGI analyst Ming-Chi Kuo said in a note this week that investors should buy shares of firms working in Apple‘s supply chain to provide parts for the Apple iPhone X. Kuo also revised his iPhone X unit shipments forecast to 40 million units for the first half of 2018. Kuo accurately predicted that Apple wouldn’t […]
Read moreAdvertising trade groups are admonishing Apple for adding features to its web browser Safari which will limit the user data companies can see. The move caused six major advertising trade associations to publish a letter on Thursday arguing against the changes, claiming Apple’s move could make online advertising worse and deprive media companies of revenue. […]
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