A U.S. recession probably won’t happen for another two years, and in the meantime stocks are a good bet, according to closely-followed Credit Suisse analyst Andrew Garthwaite. “We conclude that a US recession is unlikely until Q3 2020,” Garthwaite wrote in a note to clients Friday. “Remain overweight equities.” Typically, an inverted yield curve, when […]
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With corporate debt hitting its highest levels since before the financial crisis, Moody’s is warning that substantial trouble is ahead for junk bonds when the next downturn hits. The ratings agency said low interest rates and investor appetite for yield has pushed companies into issuing mounds of debt that offer comparatively low levels of protection […]
Read moreA publicity stunt encouraging “crypto enthusiasts” to climb Mount Everest and bury a hard drive holding $50,000 worth of cryptocurrency reportedly indirectly led to a man’s death, the Financial Times said Friday. Ukrainian social network ASKfm, which is planning to raise money through an initial coin offering, or ICO, sponsored four people to climb Everest […]
Read morePolice in Shanghai have busted what they say is gang who duped websites into deleting negative reviews by posing as government censors and media personnel. The gang made 3 million yuan (US$470,000) from the activity before the bust, according to Chinese news site ThePaper.cn. In late 2016, the gang started advertising its services to companies […]
Read moreItaly’s Prime Minister-designate Giuseppe Conte labored to finalize his cabinet team on Friday as markets tumbled on fears the incoming eurosceptic government will embark on a spending spree that will undermine fragile state finances. The eurozone’s leading financial risk indicator, the gap between Italian and German sovereign debt yields, surged to 215 basis points, its […]
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CNBC’s Jim Cramer said Foot Locker‘s stellar quarterly earnings report on Friday shows there’s still some life left for brick-and-mortar retailers. Cramer was particularly pleased with a comment by CEO Richard Johnson, who said in a statement, the “flow of premium product continues to improve” at the athletic apparel and footwear retailer. Shares of Foot […]
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Shares of Roku spiked Friday after short-seller Citron Research said it is reversing its negative view on the maker of streaming players, given a major shift away from the traditional cable television subscription model. “The move to cutting the cord and [over-the-top] advertising is real and it is a megatrend that Citron not only does […]
Read moreBlock Chain Gang, Crypto Cowboy, Something Something Blockchain: Based on the names of dozens of new companies registering to set up shop in Wyoming, the state’s effort to lure the latest tech craze appears to be paying off. Proponents say blockchain — the ledger where transactions of digital currencies, like bitcoin, are recorded — could […]
Read moreCurrency, United States Finance
Facebook, Google face complaints worth $8 billion over alleged breach of new EU data law
Privacy activist Max Schrems has wasted no time making use of Europe’s new data protection law to target the giants of Silicon Valley. The Austrian lawyer’s non-profit organization NOYB filed complaints against Google, Facebook and Facebook-owned services WhatsApp and Instagram on Friday. The complaints could result in penalties worth up to 7 billion euros ($8.1 […]
Read moreInstead of framing Apple’s self-driving car ambitions around vehicle design, investors could view Apple‘s new Volkswagen partnership as another investment in the hardware giant’s growing services business, venture capitalist Gene Munster said in a note. Apple is providing software for automaker partner Volkswagen, according to report this week in The New York Times. The report […]
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