Billionaire tech entrepreneur Elon Musk is the CEO of electric car company Tesla, the CEO of aerospace company SpaceX, a co-founder of the non-profit Open AI, he’s launching a tunneling company called The Boring Company and is starting a company aimed at connecting the human brain with computing power called Neuralink. And though he is […]
Read moreThe mining equipment market will grow next year boosting Caterpillar’s business, according to one Wall Street firm. UBS raised its rating for Caterpillar shares to buy from neutral, citing positive results from the firm’s survey of the industry’s spending plans. The stock rose 2 percent to a record high after the UBS report. We upgrade […]
Read moreCurrency, United States Finance
Bank of England's Carney sees Brexit pushing up inflation, rate rise likely
Bank of England Governor Mark Carney said Brexit was likely to push up Britain’s inflation rate and he reiterated the central bank’s new view that interest rates are likely to rise in the comingmonths. Carney, making a speech at the International Monetary Fund’s headquarters in Washington, said the process of globalisation that has led to […]
Read moreBrad McMillan — who counsels independent financial advisors representing $114 billion in assets under management — told CNBC on Monday that the stock market is way overvalued. “The market probably would have to drop somewhere between 30 and 40 percent to get to fair value, based on historical standards,” said McMillan, chief investment officer at […]
Read moreCitron Research’s Andrew Left, who gained notoriety for successful bets against companies such as Valeant Pharmaceuticals, on Monday posted a bearish report on Ubiquiti Networks. Shares of Ubiquiti plunged 8 percent after the short seller released his report. The company makes wireless networking products and its CEO is Robert Pera, majority owner of the Memphis […]
Read moreAgeism is a growing issue in Silicon Valley. But are older millennials finding themselves too old for the tech jobs at the biggest companies? An anonymous user recently asked on Quora: “I’m 35 years old. Am I too old to join Google, Facebook, Microsoft or Apple as a software engineer?” Quora is a website that […]
Read moreIn late February, early March, a debate developed concerning what factors actually drive bank stock prices. The vast majority in that debate argued that an increase in interest rates, positive stress tests, high levels of stock buybacks, easing banking regulations, and a strong bull market would continue to drive bank stock prices higher. On the […]
Read morePresident Donald Trump‘s mocking of Kim Jong Un as “Rocket Man” was unhelpful in dealing with North Korea’s nuclear threat, former diplomat Nicholas Burns said Monday. Trump made the reference to the North Korean leader in a tweet Sunday. I spoke with President Moon of South Korea last night. Asked him how Rocket Man is […]
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Central banks may one day need to issue their own cryptocurrencies, the Bank for International Settlements, or BIS, said in its latest quarterly review. “Whether or not a central bank should provide a digital alternative to cash is most pressing in countries, such as Sweden, where cash usage is rapidly declining,” the Sunday report said. […]
Read moreHuawei, one of the world’s largest smartphone makers, is already taking jabs at Apple’s iPhone X. In a post to Twitter, Huawei shows a short video of an apple being eaten to the core. The tweet says “Feeling disappointed? We’ve got a real surprise exceeding anything you’ve ever seen.” Huawei will unveil its new Huawei […]
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