Some of Ryanair’s Irish-based pilots served notice of a one-day strike on Tuesday and German pilots’ union Vereinigung Cockpit said strike action was also possible in Germany in a growing push for better conditions at the Irish budget carrier. Pilots at Europe’s largest airline by passenger numbers have mobilised in the wake of the announcement […]
Read more
U.S. companies on balance already are paying well below the 20 percent tax level targeted in the Republican reform plan, according to an analysis by Yardeni Research. In fact, the typical effective tax rate — the amount paid minus deductions — could be as low as 13 percent over the past years, Yardeni concluded when […]
Read moreFacebook on Tuesday rejected claims by former executive Chamath Palihapitiya that the social media site is “ripping apart the social fabric of how society works.” Palihapitiya has repeatedly criticized social media in general, saying it preys on human vulnerabilities and that he doesn’t allow his children to use it. But the Social Capital founder turned […]
Read more
Despite bitcoin‘s immense gain in popularity, Wall Street’s top economists and market strategists remain unconvinced. Eighty percent of respondents to the December CNBC Fed Survey said the current valuation of bitcoin is a bubble. Only 2 percent of respondents said the valuation is based on fundamentals, and 17 percent responded that they don’t know or […]
Read moreCurrency, United States Finance
Facebook to book advertising revenue locally amid political pressure
Social media giant Facebook said on Tuesday it would start booking advertising revenue locally instead of re-routing it via its international headquarters in Dublin although the move is unlikely to result in it paying much more tax. Corporate taxation has become a hot-button topic in the wake of revelations of tax avoidance schemes by multinationals […]
Read more
Strategist Tom Lee: Young people will drive bitcoin gains just as boomers boosted stocks in the '80s
Wall Street strategist Tom Lee sees significant gains ahead for bitcoin because young investors are interested in it. “I think what viewers have to appreciate is, this is a millennial story,” Fundstrat’s Lee said Tuesday on CNBC’s “Squawk Box.” “The average millennial is 25 today. The boomers were 25 in 1982, so what did the […]
Read moreStarting a company out of your garage sounds exciting — invoking visions of Silicon Valley greats Hewlett Packard and Apple, and Jeff Bezos starting Amazon in his Seattle garage circa 1994. That is, until you actually start a company in your garage. So says Chieh Huang. He knows this from experience. He launched Boxed from […]
Read moreActivision Blizzard’s upcoming franchise title launches will be big blockbuster sellers, according to one top Wall Street firm. Goldman Sachs raised its rating for Activision Blizzard shares to buy from neutral, predicting the company will report profits above expectations in 2019 and 2020. “We believe the recent sell-off in Video Game stocks has largely been […]
Read moreCurrency, United States Finance
Bank of England to meet amid UK inflation surge: What to look out for
The most important take-home from Thursday’s Bank of England (BOE) meeting is likely to be talk of what happens next. Analysts are divided on the coming year’s BOE forecast for interest rates and monetary policy changes. Amid a week of important economic data coming out of the U.K., the bank’s Monetary Policy Committee (MCP) meeting […]
Read more
Verizon will leave its earnings “plateau” behind in 2018 thanks to an over-the-top platform launch by year’s end, according to Nomura. “After three years of stable to declining earnings per share – Verizon’s self-described ‘plateau’ – we think the company is finally poised to resume earnings per share growth,” wrote Kvaal on Monday. “Verizon has […]
Read more