Closely followed trader Art Cashin told CNBC on Monday that the Bank for International Settlements just came out with a “wild card” remark on the market becoming vulnerable to another 2008-type financial crisis. Cashin spoke after the BIS, an umbrella body for leading central banks, said in an annual report on Sunday that “pricing anomalies […]
Read moreDan Loeb’s Third Point, which has more than doubled the S&P 500’s return the last two decades, just made its largest investment ever with a multi-billion dollar bet on Swiss food giant Nestle. Loeb’s hedge fund firm owns around 40 million shares of Nestle, according to an investor letter published Sunday. The position totals over […]
Read moreAlphabet and Avis Budget will work together on self-driving cars, the companies announced on Monday. Alphabet’s self-driving car company, Waymo, will rely on Avis to service and store its fleet of Chrysler self-driving vans, the companies said in a statement. Most of the 600 vehicles will be deployed, in part to support a pilot in […]
Read moreThe former chief executive officer of Barclays has warned that banks could be faced with their own “Kodak moment” by falling into irrelevance if they fail to keep up with the pace of rapidly developing fintech technologies. Antony Jenkins, who was the group CEO of Barclays from 2012 until he was sacked in 2015, said […]
Read moreStarling Bank, a new U.K. challenger bank that doesn’t have branches and relies on a mobile phone app instead to cut running costs and appeal to new customers, has received its banking passport into Ireland. The expansion into the Republic of Ireland is expected to be followed by further launches into other European Union (EU) […]
Read moreToday, Billionaire Eric Schmidt is the executive chairman of Alphabet (Google’s parent company), which has a market cap nearly $675 billion. He was also CEO of Google from 2001 to 2011, a decade when the tech behemoth both went public (2004) and saw meteoric growth. In those years when Google was rapidly expanding its workforce, […]
Read moreThe European Central Bank published a report for the first time on Monday of its corporate bond purchases, as it comes under pressure to taper its buying program. “When the ECB buys bonds in the primary market it is essentially taking the place of some other investor who would have bought the bonds but cannot […]
Read moreBMW’s biggest plant in the world is about to get a little bigger. The German automaker said Monday it will add another 1,000 jobs and invest $600 million in the plant as part of a plan to boost annual production to as many 450,000 vehicles annually. “It’s a great day for us here in Spartanburg […]
Read moreApple has often been accused of acting like it invented things that others have been doing for years. That complaint is not without merit, however Apple can lay claim to transforming existing things into mainstream successes, which takes no small amount of invention in its own right. Fingerprint authentication and contactless payments are just two […]
Read moreShares in Nestlé rose more than 4 per cent on Monday morning after the Swiss consumer group became latest target of US activist investor Daniel Loeb. Mr Loeb’s Third Point has taken an investment position of roughly 40m shares, or 1.3 per cent, in the company, and has begun “productive conversations” with management, the US-based […]
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