Technology stocks’ big gains this year have contributed a disproportionate amount to the market’s rally, and that some concerned about tech’s next move. Larry McDonald, editor of the Bear Traps Report, explained on CNBC’s “Trading Nation” why he’s warning against stepping into tech at these levels. • While the S&P 500 has risen nearly 4 […]
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A successful outcome of U.S. talks with North Korea could give a boost to Chinese stocks and a U.S. exchange-traded fund that tracks them, according to a historical study looking at financial market reactions to past milestones regarding the rogue nation. A disappointing outcome could hurt European stocks, the study showed. President Donald Trump is […]
Read moreA venture fund formed by the company behind the beloved TV show “Sesame Street” has invested in a start-up that wants computer building and coding to return to the forefront of consumer technology. Kano, known for its do-it-yourself computer building kits for kids, said that it had bagged the funding from Sesame Ventures, the social-minded […]
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Rolls-Royce, preparing to cut thousands of jobs, says engine problem has spread
Britain’s Rolls-Royce said a costly compressor problem that had grounded Boeing planes had now been found in a different type of engine, compounding pressures on a group that is due to cut more than 4,000 jobs this week. Britain’s best-known engineering company has been hit by a problem with a compressor in the Trent 1000 […]
Read moreBritish discount retailer Poundworld has fallen into administration, a form of creditor protection, administrator Deloitte said on Monday, becoming the latest victim of brutal trading conditions on the UK high street. Poundworld, majority owned by private equity group TPG Capital, trades from 335 stores across the country and its administration puts about 5,100 jobs at […]
Read moreU.S. Secretary of State Mike Pompeo delivered on Monday a firm declaration of American intentions for the upcoming summit between President Donald Trump and North Korean leader Kim Jong Un. “This is truly a mission of peace” Pompeo told members of the media assembled in Singapore, saying that talks were moving quickly with North Korean […]
Read moreMicrosoft unveiled a string of exclusive games for the Xbox console and the acquisition of four content studios, as it tries to regain lost ground against the Sony PlayStation. On Sunday at E3, the biggest gaming event of the year, the U.S. technology giant showcased 52 games, 18 of which will launch as exclusives, meaning […]
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HSBC to invest $15-17 billion as strategy swings from shrink to grow
HSBC will invest $15-17 billion in areas including technology and its core Asian markets of Hong Kong and China as it swings from a strategy of cost-cutting to growth, new Chief Executive John Flint said on Monday. The announcement is Flint’s first public indication to shareholders of the strategy he intends to pursue at HSBC, […]
Read moreA radical plan to transform Switzerland’s financial landscape by barring commercial banks from electronically creating money when they lend was resoundingly rejected by Swiss voters on Sunday. More than three quarters rejected the so-called Sovereign Money initiative, according to the official result released from the Swiss government. All of the country’s self-governing cantons also voted […]
Read moreItaly has refused to allow a ship carrying over 600 migrants to dock at any of its ports and said it was shutting its ports, demanding that the Mediterranean island of Malta accept the vessel instead. It refused, promoting a diplomatic rift with Italy and leaving the migrant vessel in limbo. Matteo Salvini, the leader […]
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