U.S. homebuilding rebounded more than expected in June after declining for three straight months, but construction activity remains constrained by rising lumber prices, labor and land shortages. Housing starts jumped 8.3 percent to a seasonally adjusted annual rate of 1.22 million units, the highest level since February as both single-family and multi-family construction increased, the […]
Read moreJPMorgan said Wednesday the Apple iPhone Pro, also often referred to as the iPhone 8, isn’t delayed. Instead, the bank said, Apple’s highest-end iPhone will launch on time but will only be available in limited quantities at first. This follows several reports around Wall Street that have suggested Apple’s iPhone won’t launch until October or […]
Read moreTurkey announced a new school curriculum on Tuesday that excluded Charles Darwin’s theory ofevolution, feeding opposition fears President Tayyip Erdogan is subverting the republic’s secular foundations. The chairman of a teachers’ union described the changes as a huge step in the wrong direction for Turkey’s schools and an attempt to avoid raising “generations who ask […]
Read moreCurrency, United States Finance
Crash in bond markets, Fed mistake are investors’ biggest fears right now, survey finds
Investors are more comfortable holding on to cash than investing in traditional assets as they consider a crash in global bond markets and a policy mistake by central banks to be the biggest tail risks to the market, according to a survey. The Bank of America Merrill Lynch July Fund Manager Survey that polled 207 […]
Read moreIBM‘s stock is poised to fall 18 percent and the company’s AI supercomputer, Watson, won’t move the needle, Jefferies’ James Kisner told CNBC on Wednesday. The iconic technology company’s stock fell Tuesday after it reported revenue was down year over year for the 21st-straight quarter, off by more than 4 percent. The stock was down […]
Read moreSoutheast Asia’s largest telecommunications company may be on the hunt for acquisitions following the highly anticipated public listing of Netlink NBN Trust, which raised about 2.35 billion Singapore dollars ($1.72 billion). The newly public trust was the broadband arm of Singapore Telecommunications (Singtel), which said it took in a sizable haul from the public debut. […]
Read morePerhaps homeowners were scared by the recent jump in interest rates or by the expectation of higher rates ahead, but something sparked a jump in people applying for a mortgage refinance last week. Total application volume rose 6.3 percent for the week from the previous week. The Mortgage Bankers Association’s seasonally adjusted index shows volume […]
Read moreCurrency, United States Finance
US shale pumping means oil is stuck at $50 for the next two years, wealth manager says
Oil prices are likely to be stuck within a range of $40 to $60 for the next year or more, according to the latest investment forecast from U.K.-based wealth manager Coutts. In its mid-year investment outlook, published Wednesday, the private bank – which is reported to have the U.K. queen as one of its clients […]
Read moreSamsung began rolling out its smart assistant Bixby — which is a rival to Apple’s Siri — for Galaxy S8 and S8+ users in the U.S. on Wednesday, after a delay for the much-hyped feature. The new software is for owners of Samsung’s latest flagship devices in the U.S. and South Korea only, and they […]
Read moreSnapchat is getting its first daily news show in partnership with NBC News. “Stay Tuned” will air at 7AM and 4PM on weekdays and 1PM on weekends, according to the user’s local time zone. The episodes will be 2 to 3 minutes long and current news topics and pop culture events in the vein of […]
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