BlackRock’s Jeff Shen says the firm’s new investments in machine learning and big data are driving returns even higher. “The group I’m affiliated with, the scientific active equity group, 90 percent of the AUMs are above benchmark on one, three, five year,” said Shen, Blackrock’s co-CIO of its scientific active equity group, during an interview […]
Read moreA variety of factors could essentially force Ferrari to go all electric at some point in the future, said Morgan Stanley analyst Adam Jonas. Onerous regulations or outright bans on internal combustion engines and the performance advantages of electric powertrains may pose an existential threat to companies like Ferrari. Jonas said Ferrari’s recent push to […]
Read moreAmazon is opening a new type of bar for only 10 days in Japan later this month. Amazon Bar, according to the company’s website, will be located in Tokyo’s upscale Ginza area and serve a variety of drinks, including beer, wine, and whiskey. But it comes with one caveat: there’s no menu. The bar will […]
Read moreThe U.S. government is not looking for a “back door” into smartphones and other devices, said Rob Joyce, cybersecurity coordinator for the White House. Speaking on Thursday during a panel at the Cyber Summit 2017, an event sponsored by CNBC and the Aspen Institute, Joyce said the government supports encryption. It’s “definitely good for America, […]
Read moreLed by vice president Mike Pence, a bevy of White House officials and space industry executives met Thursday at the first National Space Council since its disbandment in 1993. “American leadership in space will be assured,” Pence said. “We will return Americans to the moon … and build the foundation we need to send Americans […]
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Nordstrom has officially opened its first store without inventory, testing a new format for the department store chain called Nordstrom Local. The first Nordstrom Local, planted in West Hollywood, California, features a handful of dressing rooms for shoppers to try on clothes. But the store won’t physically keep any inventory for purchase in stock. Instead, […]
Read moreBestselling author Kazuo Ishiguro has been a longtime favorite for millions of readers, including one particular book lover — Amazon founder and CEO Jeff Bezos. On Thursday, the Japanese-British novelist claimed his place in history as the 2017 winner of the Nobel Prize in Literature. One of the books for which Ishiguro is best known, […]
Read moreMicrosoft’s growth could get a boost from its latest Xbox launch as well as its exploration of the growing esports industry, according to one Wall Street analyst. Canaccord Genuity upgraded Microsoft shares to buy from hold Wednesday, noting that the Xbox maker could give more credibility to the budding world of esports, which is centered […]
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HOW much money do you need to retire? Depending on your age, it is a question you think about a lot (if retirement is imminent) or barely at all. For younger people, the subject is a combination of too far away, too complex and too boring, and too depressing. When you consider that you might […]
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SWITZERLAND, which developed cross-border wealth-management in the 1920s, was once in a league of its own as a tax haven. Since the 1980s, however, tax-dodgers have been spoilt for choice: they can hide assets anywhere from the Bahamas to Hong Kong. The percentage of global wealth held offshore has increased dramatically. But it has been […]
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