Oil prices surged Monday, hitting the highest level in more than two years, and one market watcher says the political shake-up in Saudi Arabia over the weekend leads him to believe that the rally could just be getting started. Arrests made on Saturday in Saudi Arabia of prominent leaders, including billionaire investor Prince Alwaleed bin […]
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IN APRIL 2016, the International Consortium of Investigative Journalists (ICIJ) dropped a bombshell. Its articles about the “Panama Papers”, a leaked trove of documents which had been stolen from Mossack Fonseca, a Panama-based law firm, sent shock waves round the world—felling the leaders of Pakistan and Iceland, leading to multiple arrests and pushing several countries […]
Read moreThe Federal Reserve’s point-person on Wall Street appealed to Congress on Monday to “do no harm” as it considers slicing back regulations put in place to protect the U.S. economy in the wake of the financial crisis. New York Fed President William Dudley, who announced Monday morning he would retire earlier than expected in mid-2018, […]
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Macy’s is getting slammed, and one technician says the charts are pointing to even more pain ahead of earnings this week. It’s been a tough year for retailers — the retail ETF XRT has fallen nearly 10 percent, while the S&P 500 is up more than 15 percent in 2017. “Look at these numbers, it […]
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Wall Street is buzzing over Broadcom’s blockbuster unsolicited $70 per share offer to buy Qualcomm, which values the chipmaker at more than $130 billion including debt. If completed ,the deal would be the largest technology acquisition on record, according to Dealogic. The size of the deal also ranks as the third biggest overall since 1995, […]
Read morePaul Ryan, speaking to CNN about the tax overhaul bill the House will begin considering on Monday, says “the whole purpose of this is a middle-class tax cut.” That’s in line with the rhetoric Donald Trump deployed on the campaign trail, in line with public opinion polling about what voters want, and reflects a kind […]
Read moreIn a park in the middle of a leafy, bohemian neighborhood where homes list for close to $1 million, a tractor’s massive claw scooped up the refuse of the homeless — mattresses, tents, wooden frames, a wicker chair, an outdoor propane heater. Workers in masks and steel-shanked boots plucked used needles and mounds of waste […]
Read moreSoftbank’s Masayoshi Son dinged Amazon during an earnings call Monday, saying his investments in rival e-commerce companies are outperforming the American giant. Son’s Softbank has invested in Chinese e-commerce giant Alibaba, Yahoo! Japan Shopping, sports e-commerce company Fanatics and India-based Flipkart. “E-commerce as a business model, [is] now becoming the essential business model for our […]
Read moreCiti upgraded Twitter shares to neutral from sell based on the view the beaten-down social media stock may finally be set for modest growth. “This bird might not fly south for the winter,” analyst Mark May wrote in a Sunday report. He noted that Twitter shares are up 22 percent this year, a recovery of […]
Read moreOil prices are more likely to rise toward $70 a barrel than sink back to $50 in the wake of the biggest political shakeup in Saudi Arabia in decades, according Roberto Friedlander, head of energy trading at Seaport Global Securities. Crude futures rose to highs going back to mid-2015 overnight after Saudi Crown Prince Mohammad […]
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