The U.S. economy grew a bit faster than previously estimated in the second quarter, recording its quickest pace in more than two years, but the momentum probably slowed in the third quarter as Hurricanes Harvey and Irma temporarily curbed activity. Gross domestic product increased at a 3.1 percent annual rate in the April-June period, the […]
Read moreCurrency, United States Finance
Trump's tax plan will boost GDP, lift stocks and force a Fed rethink, RBC says
Economists at the Royal Bank of Canada gave an optimistic take on tax reform plans unveiled in the U.S., suggesting in its current form it will boost growth and urge investors to rethink the stock markets. “Acknowledging that some key details are still missing, a good baseline is that this tax plan could increase GDP […]
Read moreCheck out which companies are making headlines before the bell: Roku – Roku priced its initial public offering at $14 per share, at the top of the expected range for the maker of streaming video devices. The pricing values the company at about $1.3 billion. Blackberry – The company formerly known best for its iconic […]
Read moreLyft is close to hiring an initial public offering (IPO) advisory firm, in the first concrete step by the second biggest U.S. ride service company to become publicly listed, according to people familiar with the matter. Lyft’s IPO preparations come as its larger competitor, Uber Technologies, is attempting to recover from a range of scandals. […]
Read moreWe haven’t even started third-quarter earnings season, and already the debate focuses on what could be called peak earnings. Is this the top for the cycle of rising earnings that began last year? Not yet, and you can partly thank the renewed prospects for tax cuts. The markets took a leg up to historic highs […]
Read moreHow do you pay for an estimated $5.8 trillion tax cut? For President Donald Trump and Republican congressional leaders, that is the mostly unanswered $5,800,000,000,000 question. The plan they released Wednesday took a first step toward outlining how Republicans propose to cover some of the monumental cost over the next 10 years, mainly by removing […]
Read moreEuropean Union (EU) regulators told CNBC Thursday that it is “premature” to make a decision on whether Google’s attempt to remedy its antitrust violation on its shopping service is sufficient. Google was fined a record 2.4 billion euros ($2.7 billion) in June by the European Commission, the EU’s executive arm. It was accused of abusing […]
Read moreSouth Korea expects more provocative acts by North Korea next month, to coincide with the anniversary of the founding of the North Korean communist party and China’s all-important Communist Party Congress. During a meeting with President Moon Jae-in on Thursday, national security adviser Chung Eui-yong said he expected Pyongyang to act around Oct. 10 and […]
Read moreExecutives from Facebook, Alphabet’s Google and Twitter have been asked to testify before the U.S. Congress in coming weeks as lawmakers probe Russia’s alleged interference in the 2016 U.S. election, committee sources said on Wednesday. A Senate aide said executives from the three firms had been asked by the Senate Intelligence Committee to appear at […]
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ONE group of Facebook friends that Mark Zuckerberg recently decided were not worth hanging out with were its public shareholders, who expected to cross-examine him (via a lawyer) on September 26th in a Delaware court. At issue would have been Mr Zuckerberg’s plans to refashion the social-media firm’s share-ownership structure more in his favour. There […]
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