The British pound leaped half a cent to $1.35 on a report that British Foreign Secretary Boris Johnson “will resign before the weekend” if Prime Minister Theresa May opposes his demands on Brexit. Sterling slid nearly 1 percent on Monday after Bank of England Governor Mark Carney said that any interest rate rises would be […]
Read moreBridgewater Associates founder Ray Dalio said Tuesday he is not a believer in cryptocurrencies. “Bitcoin today you can’t make much transactions in it. You can’t spend it very easily,” Dalio said on CNBC’s “Squawk Box.” “It’s not an effective storehold of wealth because it has volatility to it, unlike gold,” the hedge fund founder added. […]
Read moreIt’s been five years since Best Buy held an investor meeting. And while much has changed since the last one, there will still be skeptics in the audience at its Richfield, Minnesota, headquarters. At its last one, in November 2012 in New York, then-new chief executive Hubert Joly laid out his transformation plan “Renew Blue” […]
Read moreU.S. homebuilding fell for a second straight month in August as a rebound in the construction of single-family houses was offset by persistent weakness in the volatile multifamily home segment. Housing starts slipped 0.8 percent to a seasonally adjusted annual rate of 1.18 million units, the Commerce Department said on Tuesday. July’s sales pace was […]
Read moreCurrency, United States Finance
ECB reportedly disagrees on whether to set a definitive end-date for its QE program
European Central Bank policymakers disagree on whether to set a definitive end-date for their money-printing program when they meet in October, raising the chance that they will keep open at least the option of prolonging it again, six sources told Reuters. A stubbornly strong euro, with its dampening effect on inflation, is driving a rift […]
Read moreCheck out which companies are making headlines before the bell: Equifax — The maligned credit reporting company’s stock slipped 1.3 percent before the bell after it acknowledged that it faced another security issue earlier this year. On Sept. 7, Equifax reported a data breach that could affect 143 million U.S. consumers. Tesla — Analysts at […]
Read moreApple’s products are so good, they are apparently immune to the normal laws of economics. Morgan Stanley on Tuesday raised its 12- to 18-month price target on Apple to $194 from $182, as the firm sees the higher prices as positive, not a negative like some other research firms on Wall Street. “Innovation-led price increases […]
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WHEN Ryanair convinced many of its pilots to take fewer holidays during peak-travel season, it probably thought it was being clever. But poor planning and a bit of bad luck have left the airline with a shortage of working pilots for the autumn. The shortfall has forced Ryanair to cancel some 2,100 flights starting on […]
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SOME strategies are too successful. When Ryanair convinced many of its pilots to take less vacation during peak-travel season, it probably thought it was being clever. However, pilots who ferry tourists to holiday destinations need vacations too. Poor planning and a bit of bad luck have left Ryanair with a shortage of working pilots for […]
Read moreWhile market prices suggest less certainty, 76 percent of respondents to the CNBC Fed Survey believe the central bank will hike interest rates in December. Various market-based gauges put the probability at 43 to 55 percent. On average, respondents to the survey see two to three hikes next year, and the Fed is forecast to […]
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