A widely followed research analyst said Amazon‘s acquisition of Whole Foods Market will add to the e-commerce giant’s bottom line, quickly. In his first note to investors since the buy-out of the organic grocery chain became official on Monday, Mark Mahaney of RBC Capital Markets raised his estimate for Amazon’s 2018 profit by 10 percent. […]
Read moreRussia’s central bank stepped in to launch one of the largest bank rescues in the country’s history, stoking fears of a possible systemic crisis in its banking sector. The Central Bank of Russia (CBR) said late Tuesday it planned to rescue Otkritie, the country’s seventh-largest bank by assets according to Interfax data, amid concerns about […]
Read moreWhile North Korea’s repeated missile tests and defiance of international sanctions may seem erratic to onlookers, Supreme Leader Kim Jong Un‘s latest move demonstrates a “very rational” strategy based on an “sense of acute timing,” one strategist told CNBC. Philippe Dauba-Pantanacce, global geopolitical strategist at Standard Chartered Bank, explained that the pariah state’s latest missile […]
Read moreVeteran retail analyst Dana Telsey said the retail sector is undergoing dramatic changes in the era of big data and e-commerce, but will survive. CNBC’s Mike Santoli spoke with Telsey, who leads a top research and consulting firm focused on retail, in an exclusive interview for CNBC PRO. Santoli asked her about the sector’s outlook […]
Read moreApple’s iPhone 8 will ditch the home button, Bloomberg said Wednesday. The iPhone 8, which is expected to be the most high end of three new iPhones, including the iPhone 7s and iPhone 7s Plus, will reportedly allow users to interact with the phone through swipe gestures from the bottom of the screen. This aligns […]
Read moreVeteran retail analyst Dana Telsey shared her thoughts on the future of the sector and revealed her favorite stock picks in an exclusive interview for CNBC PRO with Mike Santoli. On Amazon’s affect on the sector: “I think one of the things you can see is that brand names matter. And brands being able to […]
Read moreThe U.S. economy grew faster than initially thought in the second quarter, notching its quickest pace in more than two years, and there are signs that the momentum was sustained at the start of the third quarter. Gross domestic product increased at a 3.0 percent annual rate in the April-June period, the Commerce Department said […]
Read moreAs Amazon geared up to close its acquisition of Whole Foods last Thursday, the company said it would focus on four areas going forward: (1) A price decrease on a set of items from organic responsibly farmed salmon and tilapia to organic butter; (2) A switch to Amazon Prime as Whole Foods’ customer rewards program; […]
Read moreVirtual currencies such as bitcoin are becoming more and more popular as an alternative investment thanks to their rising value, but as more consumers engage with it, so are the number of complaints against tech companies offering digital currency products. The number of complaints about virtual currencies filed with the U.S. Consumer Financial Protection Bureau […]
Read moreCurrency, United States Finance
Though Portugal seems out of the woods with a projected growth rate of 2.5 percent this year, according to the International Monetary Fund, consumer and business habits might jeopardize the economy in the future. “My fear is more on the change of habits,” Diogo Teixeira, CEO of Optimize Investment Partners, told CNBC. “We’ve seen in […]
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