The S&P CoreLogic Case-Shiller home price index rose 5.9 percent in July compared a year ago, better than the 5.7 percent expected by economists polled by Reuters. The rise was also higher than June’s 5.8 percent increase. David Blitzer, managing director and chairman of the index committee at S&P Dow Jones Indices, said consumers were […]
Read moreFacebook will soon host official NFL content, including recaps of every regular season and playoff game, in a partnership with the league. The multiyear deal that was announced Tuesday is an important step in Facebook’s push to offer premium content and a telling move for the NFL, which has seen its TV ratings consistently fall […]
Read moreRichard Smith, CEO and chairman of Equifax, abruptly retired Tuesday following a data breach at the credit-reporting service that affected the personal information of 143 million people, according to the company’s board. Equifax shares fell 1.6 percent in early trading on Tuesday. They have fallen 27 percent in September after the company revealed the breach. […]
Read moreCheck out which companies are making headlines before the bell: Shake Shack – The restaurant chain’s stock was downgraded to “neutral” from “outperform” at Wedbush, with potential cannibalization from newly opened locations among the risks mentioned. Darden Restaurants – The restaurant chain operator reported adjusted quarterly profit of 99 cents per share, matching estimates, while […]
Read moreThe Federal Reserve’s plan to methodically raise short-term interest rates over the next couple years may not boost bank shares, contrary to popular belief, and could instead hurt the group’s profitability as it flattens the so-called yield curve, Deutsche Bank said. Analyst Matt O’Connor downgraded shares of JPMorgan and regional bank PNC Financial late Monday […]
Read moreCorporate America is willing to invest money on a longer-term basis under President Donald Trump than the previous “anti-business administration” of Barack Obama, real estate mogul Sam Zell told CNBC on Tuesday. “Bluntly, the only way I can square anything is I focus on what gets done, not what’s said,” the billionaire said on “Squawk […]
Read moreCurrency, United States Finance
Economist Adam Posen is changing his view on when the next US recession will hit
The inability of the U.S administration to pass new tax cuts has delayed the next boom and bust cycle in the country, according to one economist, who is still predicting that the U.S. is ultimately headed for a recession. Adam Posen, president of the Peterson Institute for International Economics, told CNBC in March that he […]
Read moreApple’s iPhone 8 Plus is one of the company’s most expensive smartphones to make to date, but price hikes are likely to help maintain a healthy margin, according to analysis. The bill of materials (BOM) cost for the 5.5-inch iPhone 8 Plus with 64 gigabyte memory came in at $288.08, IHS Markit revealed in a […]
Read moreThe year hurricanes Katrina and Wilma devastated Florida and Louisiana, Bill Begal’s property restoration and cleanup business took in more than $10 million in revenue. An average year, by comparison, could bring in up to $4 million — not bad for a company bootstrapped inside a family dry-cleaning store more than 20 years ago. “Flooding […]
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WHO wants mediocrity? That is what a lot of people say when the subject of index-tracking, or passive fund management, comes up. They would rather choose a fund manager (an active manager in the jargon) who tries to beat the market by picking the best stocks. It does sound like a good idea. The tricky […]
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