The family office of Steven Cohen, the billionaire banned from running a hedge fund in the US, has run into a regulatory roadblock in the UK. Point72, which manages about $11bn of Mr Cohen’s personal fortune, has been told in recent months that it would not receive regulatory approval in the UK by the Financial […]
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Apple stock, even trading near a record high, looks far cheaper than the overall stock market. In fact, by one common metric, if Apple were priced just like the S&P 500 index, it would be trading at $187 from its current $156. If it were valued like a tech stock, it would be priced at […]
Read moreGoogle said it finally has an algorithm in place to bury junky Android apps that have bad reviews. Surprising, since the Google Play Store has come under fire for years for being a haven for lower-quality apps than what one might find in the iTunes App Store for iPhones. Google said the changes are already […]
Read moreA company building tiny rockets is only a few launches away from cracking open a multi-billion dollar market. Vector Space Systems on Thursday flight tested its Vector-R launch vehicle from Spaceport Camden in Georgia. The FAA-approved launch reached its targeted height of 10,000 feet while carrying a commercial payload which included packages from NASA, Astro […]
Read moreThe global financial meltdown that led to the Great Recession could have been mitigated if the Federal Reserve had “slashed rates more dramatically” at the time, CNBC’s Jim Cramer said, reflecting on his famous 2007 “they know nothing” Fed rant. Cramer recalled on Thursday, 10 years to the day, that he didn’t plan it. “The […]
Read moreAndy Hall, a trader nicknamed the “God” of the oil and energy markets, is reportedly closing down his main hedge fund, Astenbeck Capital Management. The hedge fund posted large losses in the first half of the year, according to a Bloomberg report. The flagship fund, Astenbeck Master Commodities Fund II, has tanked nearly 30 percent […]
Read more“Alexa, ask Trackr to find my phone.” Device-monitoring app Trackr on Tuesday announced it has secured $50 million in its latest round of funding, which included dollars from the Amazon Alexa Fund, among other investors. “The Alexa Fund came to us after we created this skill [for Alexa-capable devices],” Trackr CEO Chris Herbert told CNBC’s […]
Read moreActivist hedge fund manager Dan Loeb, who’s more than doubled the S&P 500’s return over the last two decades, is beating the market again this year while most of his big-name peers are struggling. But the Wall Street titan admitted Thursday his strong performance was partly due to good fortune. Earlier this year the manager […]
Read morePresident Donald Trump has backed a new immigration proposal to make immigration more “merit-based,” but one technology executive said the policy could actually make it harder for American companies to compete for talent. “We go through ridiculous interview processes to try to find precisely the right people,” former Twitter CEO Dick Costolo told CNBC’s “Squawk […]
Read moreWhile some people love to chatter about a looming “retail apocalypse,” Goldman Sachs says not so fast. On Thursday, the firm offered up a number of reasons why physical retail can and will live on. Store-based retailers must approach the current situation — a rapidly evolving environment — with a fresher approach and a strategy […]
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