Wall Street punished GameStop on Friday, a day after the company posted weaker-than-expected earnings and margins. The stock price was down more than 13 percent Friday afternoon. Despite strong revenue and same store sales, GameStop’s earnings per share fell just shy of estimates. The video game retailer posted adjusted second-quarter earnings of 15 cents per […]
Read moreFederal Reserve Chair Janet Yellen has been scrupulously avoiding discussion of specific details on the future of monetary policy, leaving economists to draw inferences from her sentiments about the health of the overall economy. “If you hear Janet Yellen say something like, ‘Well, gee, we really don’t think that lending has grown excessively,’ that’s a […]
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SAMSUNG’S founding family, the Lees, have good reason to dislike room 417 of Seoul’s Central District Court. In 2008 it was where Lee Kun-hee, the chairman of the sprawling South Korean conglomerate, was found guilty of tax evasion. On August 25th his son, Lee Jae-yong, the vice-chairman of Samsung Electronics, stood in the same room […]
Read moreGoogle is issuing refunds to advertisers whose ads ran on its sites later found to have fake traffic, according to a report in the Wall Street Journal. The refunds are being made while Google works on a tool to give online marketers more transparency into the ads they buy via the company’s technology, known as […]
Read moreThe threat of a stock market correction may keep the Trump administration and the GOP in Congress focused on getting something done this fall. Strategas Chief Investment Officer Jason DeSena Trennert sees the stock market as the new vigilante, tempering the actions of policymakers much like the bond market behaved in the 1980s and 1990s. […]
Read moreElon Musk says artificial intelligence is a bigger threat than North Korea. Bill Gates has suggested that it will be necessary for companies to pay a “robot tax” as they increasingly replace workers with automation. But the rise of machine intelligence isn’t all bad. Case in point: it’s made possible a robot dance party which […]
Read moreOfficially, Apple has no presence in Iran. Because of American sanctions against the country, the company’s iPhones are not legally available for sale here, and Apple does not offer a version of its App Store in the country. That has not stopped Iranians from snapping up millions of iPhones smuggled in from places like Dubai […]
Read moreClosely followed trader Art Cashin said Friday that “a sense of frustration will build” in the market if President Donald Trump and Congress can’t get their act together on tax reform. “The fact that they’ve failed on a couple of levels. If it doesn’t look like they’re putting their act together on something like taxes […]
Read moreTesla and SpaceX CEO Elon Musk has repeatedly said society needs to be more concerned about safety with the increased use of artificial intelligence. “If you’re not concerned about AI safety, you should be,” Musk recently tweeted. TWEET Jenny Dearborn, chief learning officer at software solutions company SAP, agrees. In fact, she says it’s critical […]
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Trillions of dollars in U.S. corporate profits held abroad are more likely to finally come home with the latest developments out of Washington. White House economic advisor Gary Cohn told the Financial Times that the tax reform plan will include a one-time low repatriation tax rate for corporate profits held overseas. He said the specific […]
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