The vice-president of the European Central Bank (ECB) warned Wednesday that current high valuations in U.S. equities could spark a possible correction in global stock markets. Speaking to CNBC, Vitor Constancio said: “Certainly the cyclically-adjusted price (to) earnings ratio in the U.S. is well-above historical averages.” This ratio is an important metric used by traders […]
Read moreIn a week that saw no change in interest rates and a holiday tacked onto the end, mortgage volume really had nowhere to go but down. Total applications fell 3.1 percent for the week, according to the Mortgage Bankers Association’s seasonally adjusted report, which accounted for the Thanksgiving holiday. Applications to refinance a home loan […]
Read moreNet neutrality has lost some of its support since the Federal Communications Commission announced plans to “abandon” the Obama-era regulations on internet service providers. A poll from Morning Consult and Politico released on Wednesday found that 52 percent of voters support net neutrality, compared with 18 percent who say they don’t support the regulations. The […]
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Trump retweets far-right British activist group, displaying shocking anti-Muslim videos
President Donald Trump on Wednesday retweeted three graphic anti-Islamic videos by the deputy leader of one of the U.K.’s most far-right groups. The retweets did not include any Trump commentary. The tweets were posted by Jayda Fransen, deputy leader of Britain First, whose members are banned from mosques in England and Wales. The group was […]
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Apple rushes to resolve ‘huge’ password glitch on its new operating system
Apple is scrambling to fix a serious glitch within its latest Mac operating system. A major flaw in the way the MacOS High Sierra operates means that anyone can gain entry to a computer without the use of a password, obtaining access to powerful administrator rights in the process. Warnings about the bug were shared […]
Read moreThe U.S. Supreme Court on Wednesday takes up a major test of privacy rights in the digital age as it weighs whether police must obtain warrants to get data on the past locations of criminal suspects using cellphone data from wireless providers. The justices at 10 a.m. (1500 GMT) are due to hear an appeal […]
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Geely-Volvo considering making Lynk & Co cars in Belgium, South Carolina, exec says
China’s Zhejiang Geely and its Volvo Cars unit are considering making Lynk & Co. branded vehicles at Volvo plants in Belgium and the U.S. state of South Carolina, a senior Lynk & Co. official told Reuters on Wednesday. The Lynk & Co. brand is jointly owned by Geely and Volvo Cars, and sales of the […]
Read moreGermany’s BMW is talking with other automakers “around the world” to try to find partners to lower the cost of electrifying its future Mini small cars, management board member Peter Schwarzenbauer told Reuters. “We are talking to many OEMs (manufacturers) around the world, not only in China, (about) how to electrify smaller cars,” Schwarzenbauer said. […]
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ECB warns of possible global market correction after excessive risk-taking
The European Central Bank (ECB) warned Wednesday that despite the improved economic growth in the euro area there are concerns related to a sudden increase in volatility. “Systemic stress indicators for the euro area have remained low over the past six months,” the ECB said in a statement on Wednesday, but added that “the risk […]
Read moreEssential founder and CEO Andy Rubin has taken a leave of absence from his new company for “personal reasons” following a report on the circumstances of his 2014 departure from Google. According to The Information, Rubin left Google shortly after an investigation found that he had maintained an “inappropriate relationship” with a woman who worked […]
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