Seattle’s rich should engage in upper-class “civil disobedience” and refuse to pay their city taxes, Washington state’s Republican leaders said. After the city of Seattle passed a new income tax on households earning more than $500,000, the Washington State Republican Party called for taxpayers to “forcefully resist” the tax by refusing pay, file or comply […]
Read moreA free market ideology has long been the prevailing ethos on the online markets where drugs and stolen credit cards are for sale. But a fierce debate has erupted among the operators and users of these markets over whether free markets need some limits. On Tuesday, one of the largest marketplaces operating on the so-called […]
Read moreWall Street has a new bond trading king. While revenue from fixed income fell during a quiet second quarter, Morgan Stanley still managed to come out looking good. On Wednesday, it said fixed income sales and trading revenue of $1.2 billion fell 4 percent from last year, but that beat the stunning 40 percent drop […]
Read moreOne measure of technology stocks is now higher than during the dotcom boom. The S&P information technology sector grouping broke above $990 on Wednesday. If it closes above $988.49, it would exceed its March 27, 2000, levels, according to FactSet. The constituents of that group have changed considerably since then: Facebook for instance, wasn’t even […]
Read moreInvestors should give IBM the benefit of the doubt as it transitions from its old business model, CNBC’s Jim Cramer said Wednesday. Shares of Dow component IBM were 4 percent lower on Wednesday after the iconic tech firm reported its 21st-straight quarter of revenue decline. But Cramer said many on Wall Street are misguided on […]
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A million barrels of oil doesn’t buy much good will these days. Oil markets got a temporary boost on Tuesday on reports that Saudi Arabia could cut its crude exports by a further 1 million barrels. It was the kind of news that could once sustain a session-long surge, but almost as quickly as futures […]
Read moreShares of United Continental fell almost 4 percent Wednesday after the airline gave third-quarter guidance that implied it may miss Wall Street’s earnings estimates for the period. The airline said it expects revenue per available seat mile (RASM) — a key metric for airlines — to range between a 1 percent decline and 1 percent […]
Read moreShares of IBM dropped around 4 percent in early traading Wednesday, a day after the multinational technology company announced yet another revenue decline. IBM reported second-quarter revenue of $19.29 billion on Tuesday, marking the 21st-straight quarter of declining revenues. Sales for the company also missed a Reuters estimate of $19.46 billion. IBM, the fifth-largest Dow […]
Read moreCurrency, United States Finance
French military chief quits, first major sign of dissent under Macron's young presidency
France’s head of the armed forces resigned Wednesday citing cuts to the military’s budget under new President Emmanuel Macron. The move is the culmination of a public spat between the two men. In his resignation statement, translated by Reuters, General Pierre de Villiers said that: “In the current circumstances I see myself as no longer […]
Read moreFacebook is adding the option for publishers to lock Instant Articles shared on the social media service behind a paywall later this year, said Campbell Brown, the company’s head of news services, at a conference yesterday according to The Street. The new feature will reportedly be built on top of the company’s existing Instant Articles […]
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