The S&P 500 just had its least volatile September ever, but one top Wall Street firm believes the recent sedate markets will not last. JPMorgan reiterated its overweight rating for Goldman Sachs shares, saying the investment bank’s trading results will improve as the markets get more volatile. Goldman Sachs “has shown excellent progress when it […]
Read moreGoogle is hosting an event in California on Wednesday where it’s unveiling new products. Here’s a look at what’s going down. Google’s senior vice president of hardware Rick Osterloh kicked off the show with a quick note that the company is introducing its second generation of Google-made hardware. Last year, Google unveiled the Google Pixel, […]
Read moreGoogle is expected to announce a new, upgraded Pixel 2 smartphone at an event today in California. Anticipated improvements include longer battery life and even higher quality photos. Our colleagues at the Verge are covering it live here. Google insists it has ambitious plans to create “compelling hardware products” and recently announced it would be […]
Read moreThe former CEO of Equifax returned to Capitol Hill on Wednesday, this time facing tough questioning from members of the Senate Banking Committee about the massive data breach the company disclosed last month. Sen. Elizabeth Warren of Massachusetts peppered Richard Smith with questions about the company’s business, which benefits when consumers buy credit protection and […]
Read morePrivate equity and hedge fund firms are lending to companies at the highest rate ever, driving up competition in the sector and forcing funds to look outside the US for more opportunities. Private credit, which has sprouted while post-crisis regulation curtailed the amount that banks were willing to lend, is growing at a rate not […]
Read moreOne of the biggest threats to U.S. society is the growing acceptance that Equifax– or Yahoo-type cyberhacks are a permanent part of life — and that there’s little to be done about them, said several government officials who spoke on a panel at the Cambridge Cyber Summit in Boston on Wednesday. “We’re coming to think […]
Read moreCitron Research’s Andrew Left, who gained attention for successful bets against companies including Valeant Pharmaceuticals, sent shares of e-commerce platform Shopify reeling on Wednesday. According to Left, the company presents itself as providing e-commerce solutions to medium- and small-sized businesses, but it may be perpetuating a large number of seedy “opportunity” sellers and have far […]
Read moreThe troubling ease in which Russia was able to buy thousands of political ads on Facebook in an attempt to influence the 2016 presidential election shows just how much influence major technology companies have amassed in modern-day America, NYU business school marketing professor and author Scott Galloway told CNBC on Wednesday. The notion that someone […]
Read moreGreg Fleming, who has made a name as one of Wall Street’s most well-known investment bankers and executives, will be leading a new firm. Fleming, the former head of Morgan Stanley Wealth and Asset Management, is teaming up with Rockefeller Financial Services to form Rockefeller Capital Management, according to an announcement from the parent company […]
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MARGRETHE VESTAGER’S assault on technology firms she deems to have improperly massaged down their tax bills continued this week with a tilt at Amazon. The internet retailer faces a bill of €250m ($293m) for back taxes over what the European Union’s competition commissioner considers to have been an illegal sweetheart deal with Luxembourg. The order […]
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