Apple opened a new flagship store on Friday on Michigan Avenue in Chicago, its 497th in the world, up from just 27 in 2001. The stores are very productive, generating $5,079 in sales per square foot, according to eMarketer — way more than most retailers. But Apple retail chief Angela Ahrendts has a new vision […]
Read moreIF BUSINESS travellers need to reserve a table at a restaurant, they may use OpenTable, a website. If they wish to find a nearby museum, a Google search will probably be their first port of call. And if they want transport into town, they can easily hail an Uber. Given that so many services are […]
Read moreBitcoin surged 5 percent to a record high on Friday as it approached $6,000. The cryptocurrency traded at $5,986.37 as of 11:27 a.m. in New York and was 74 cents shy of reaching $6,000 according to CoinDesk. Bitcoin notched its record just a day after briefly plunging 8.7 percent amid fears of greater scrutiny from […]
Read moreFacebook ad revenue is on the up and up, according to a new note from Mizuho tech analyst James Lee. The company is predicting Facebook will show 8 percent ad revenue growth compared to last quarter, above the 6 percent consensus estimate. Facebook is projected to make $17.37 billion in U.S. digital ad revenue this […]
Read moreGeneral Electric‘s quarterly earnings results were a “disgrace,” but new CEO John Flannery will turn things around, CNBC’s Jim Cramer said Friday. Shares of GE fell more than 8 percent at one point in Friday’s premarket, its worst drop in more than eight years, after it reported a huge third-quarter miss. It was down about […]
Read moreInvestors will have to wait until next month to find out whether General Electric will cut its dividend yield, the company’s chief executive said Friday. “The process we’re going through, the final completion of our analysis of everything going on in the company, we’re going to present that” on Nov. 13 at GE’s investor day, […]
Read moreCurrency, United States Finance
Trump erroneously suggests the UK linked an increase in crime to terrorism
President Donald Trump on Friday erroneously said a new report linked an increase in crime in parts of the United Kingdom to the “spread of Radical Islamic terror.” “Just out report: ‘United Kingdom crime rises 13% amid spread of Radical Islamic terror,'” the president tweeted on Friday morning. He appeared to tie the report to […]
Read moreIt’s hard out there for an Apple investor. The stock has been on a roller-coaster ride since unveiling its next generation products, as underwhelming reviews and weak demand for the iPhone 8 have sent shares tumbling. “Apple looks very, very sick. It’s rolling over and trading below its 50-day moving average,” Larry McDonald, editor of […]
Read moreThird Point’s Dan Loeb, who nearly doubled the S&P 500’s return over the last two decades and manages $18 billion, just put out the most bullish note on the stock market we’ve seen in a long time from a top hedge fund manager. “We believe the US has room to lead versus the rest of […]
Read moreU.S. home resales unexpectedly increased in September as the effects of Hurricanes Harvey and Irma began to dissipate, but a persistent dearth of properties for sale continued to weigh on overall activity. The National Association of Realtors said on Friday existing home sales rose 0.7 percent to a seasonally adjusted annual rate of 5.39 million […]
Read more