Mohamed El-Erian sees a world one day that eschews paper money in favor of digital payments that could include government-issued cryptocurrency. “Is there a role for cryptocurrency in the future? Yes, but critically, officially sanctioned, that’s very different,” the chief economic advisor at Allianz told CNBC on Tuesday. “Officially sanctioned” could take the form of […]
Read moreJ.P. Morgan Chase, the world’s biggest investment bank by revenue, said trading revenue in the second quarter is likely to be about unchanged from a year ago amid charges related to taxes and accounting rule changes. “Overall, markets revenue as we see it today will be flat year on year,” Co-president Daniel Pinto said Tuesday […]
Read moreShares of Disney fell Tuesday after its latest “Star Wars” movie failed to bring the crowds and revenue analysts had expected for Memorial Day weekend. The stock fell more about 1 percent and are now down 6 percent for 2018. The Disney-produced “Solo: A Star Wars Story” delivered a franchise-low $83.3 million in North American […]
Read moreApple will use OLED screens — the type the iPhone X already has — new iPhones coming this year, according to South Korea’s Electronic Times. If it’s true — CNBC has not confirmed it — the screen upgrade is good news for consumers Apple used an OLED panel in the iPhone X, sourced from Samsung, […]
Read moreThe gains in home prices took a slight breather in March. Nationally, values rose 6.5 percent annually, unchanged compared with February, according to the S&P CoreLogic Case-Shiller home price indexes. February’s reading was revised higher. Larger cities, however, are seeing bigger gains. The nation’s 10 largest metropolitan markets saw home prices increase 6.5 percent annually, […]
Read moreAmazon remains the long-term leader among industry titans, according to MKM Partners, with the e-commerce company set to nearly triple its share of the U.S. retail market over the next seven years. “We continue to view Amazon as the best long-term growth story among the mega-caps,” analyst Rob Sanderson wrote Tuesday. “Amazon continues to become […]
Read moreThe FBI warned on Friday that Russian computer hackers had compromised hundreds of thousands of home and office routers and could collect user information or shut down network traffic. The U.S. law enforcement agency urged the owners of many brands of routers to turn them off and on again, and download updates from the manufacturer […]
Read moreCurrency, United States Finance
ECB board member Mersch warns Germany on interfering with the central bank's powers
A key member of the European Central Bank (ECB) has fired a not-so-subtle warning to Germany over the central bank’s independence. Yves Mersch, an executive board member of the ECB’s monetary decision-making body since 2012, told the Frankfurt Finance Summit Tuesday, that the ECB’s flexibility and autonomy should not be challenged. “If some countries want […]
Read moreThe worst is over for Roku shareholders this year, according to one Wall Street firm. Morgan Stanley raised its rating to equal-weight from underweight for Roku shares, citing the company’s strong performance in growing its streaming platform. “Roku benefits from strong secular tailwinds as consumer behavior shifts from viewing TV over traditional distribution (e.g. free-to-air […]
Read moreCheck out the companies making headlines before the bell: Apple – Apple will use OLED screens in new iPhone models planned for 2019, according to South Korea’s Electronic Times. Apple currently uses LCD screens in its phones. The news is helping boost the stock of OLED screen maker Universal Display. Bank of Montreal, Canadian Imperial […]
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