FOR a moment it seemed China was reverting to Maoist economic management. On the sidelines of the Communist Party congress this month, an official told Xi Jinping that her village distillery sells baijiu, a potent spirit, for 99 yuan ($15) a bottle. Mr Xi, China’s most powerful leader since Mao, remarked that this seemed a […]
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A well-respected Wall Street stock strategist is increasing his bets on bitcoin. Fundstrat’s Tom Lee told clients in a Wednesday report that the Bitcoin Investment Trust, trading under the GBTC ticker, is an “attractive” buy. The move is a risky one for a strategist like Lee. The bitcoin trust is traded over-the-counter, rather than in […]
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DONALD TRUMP is fond of pointing out that the stockmarket has reached many record highs under his Presidency. It is a capricious measure to boast about, and one that may not fully reflect the concerns of those who voted for him and probably care more about real wage growth. And a look at the ratio […]
Read moreApple has scored a coup in Silicon Valley’s increasingly global search for television industry talent, recruiting the highly regarded UK-based broadcasting executive Jay Hunt. The move marks Apple’s first high-profile hire in Europe with such an extensive programming background, as the iPhone maker looks to extend its video offering. Ms Hunt was most recently chief […]
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Amazon will most likely disappoint Wall Street with its fourth-quarter forecast, analysts at Goldman Sachs said. “Investor focus remains on operating income with the view that guidance is likely to fall below sell-side consensus of $1.5bn,” Heath Terry, an analyst at Goldman, said in a note Wednesday. “We expect the company to guide total revenue […]
Read moreSoftBank’s Masayoshi Son is scheduled to deliver the keynote address at a panel on artificial intelligence and investment Wednesday. The address is expected to begin at 10 a.m. ET. Source: Tech CNBC Watch: SoftBank's Masayoshi Son talks AI and investment on Saudi panel
Read moreApple’s base of loyal iPhone users “can’t wait” to get their hands on the iPhone X despite higher prices and production setbacks, according to HSBC analysts. HSBC initiated coverage on Apple shares with a buy rating, citing forecasts of a strong iPhone sales season as well as growth in the Apple Watch. “We believe a […]
Read moreWhen a company is one of the best performing stocks in the entire market, it needs to report perfect results and guidance to drive its shares higher. AMD did not do that Tuesday, when it gave a profitability forecast that disappointed some Wall Street analysts. The chipmaker reported better-than-expected third-quarter adjusted earnings-per-share of 10 cents […]
Read moreBitcoin is not as attractive as the distributed ledger technology that underpins it, a Chinese investment banker has said. Fan Bao, CEO of investment bank China Renaissance, told CNBC Wednesday that the world’s biggest cryptocurrency was “getting a little bit bubblish.” “I think we have to separate bitcoin from the blockchain,” Bao said. “I think […]
Read moreSales of new U.S. single-family homes unexpectedly rose in September, hitting their highest level in nearly 10 years, offering hope that the housing market was regaining speed after appearing to stall in recent months. The Commerce Department said on Wednesday new home sales surged 18.9 percent to a seasonally adjusted annual rate of 667,000 units […]
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