Fears that the rally is on its last legs are a bunch of bull, according to one top technician who has three charts that prove stocks have more room to run. “The S&P trend is still up … and there’s plenty of confirmation,” wrote Stephen Suttmeier, chief equity technical strategist at Bank of America Merrill […]
Read moreSaudi Arabia‘s Crown Prince Mohammed bin Salman, has promised a return to “a more moderate Islam,” as the Kingdom continues to push ahead with sweeping cultural and economic reforms. Speaking at Riyadh’s Future Investment Initiative conference on Tuesday, Saudi Arabia’s crown prince said he would be prepared to “destroy” extremist ideologies in order to put […]
Read moreBillionaire Howard Marks says financial markets not likely to deliver great returns over next decade
Howard Marks sees “cautionary signs” in the market and holds a tepid outlook for financial markets over the long term. Investors’ returns over the next decade “depends on whether they have access to nontraditional investments,” Marks said in an interview Wednesday on CNBC’s “Squawk Box.” The Oaktree Capital co-chairman said investors can get 5 to […]
Read moreApple told suppliers it could reduce the accuracy of the facial recognition technology in the upcoming iPhone X in order to speed up production of the devices, Bloomberg reported on Wednesday. It’s been widely-noted that Apple’s $999 iPhone X will be in short supply when preorders open on Friday. Well-known Apple analyst Ming-Chi Kuo from […]
Read moreT-Mobile US and Sprint are laying the groundwork for special committees of their board of directors to decide on a merger between the third and fourth largest U.S. wireless carriers, according to people familiar with the matter. These board committees are important for the merger because T-Mobile and Sprint are majority owned by Germany’s Deutsche […]
Read moreApple, which recently said it was including wireless charging in its latest iPhone X and iPhone 8 smartphones, has acquired New Zealand firm PowerbyProxi that designs wireless power products for consumers and industry. An Apple spokesman confirmed the acquisition, which was earlier reported in New Zealand media. Both companies declined to provide details of the […]
Read moreThe price of bitcoin took a hit after the cryptocurrency underwent another split, with the newly-created bitcoin gold seeing its value plunge over 60 percent. Bitcoin hit a low of $5,374.60 on Wednesday before recovering nearly $300. The initial fall followed the “hard fork” that occurred Tuesday. CNBC runs through what you need to know […]
Read moreSAN FRANCISCO — Jack Dorsey has become a household name in Silicon Valley thanks to his role as the chief executive and co-founder of Twitter, President Trump’s favorite megaphone. People will sometimes mention, as an afterthought, that Mr. Dorsey also runs another start-up he helped found, the payment company Square. Sometime in the very near […]
Read moreCurrency, United States Finance
UK growth beats estimates and boosts chances of a Bank of England rate hike
The U.K. economy grew by 0.4 percent in the third quarter of this year, beating market estimates, and potentially boosting the chances of a rate hike by the Bank of England. This was a rise of 1.5 percent year-on-year, according to the Office for National Statistics, with services and manufacturing being the main drivers of […]
Read moreHeineken, the world’s second-largest brewer, reported an increase in beer sales in the third-quarter, with growth in all regions except Europe, where a poor summer dampenedconsumption. Sales in the July-Sept period rose 2.5 percent excluding the impact of acquisitions to 60.0 million hectolitres, a little ahead of the average 57.9 million average expectation in a […]
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