Norway’s $1.1 trillion sovereign wealth fund has axed investments in another nine companies as it tries to move to what it considers as ethical investments. The most high-profile firm to be pulled from the fund’s collective investment is U.K. defense company BAE Systems, which said via email Tuesday that it respected “the right of investors […]
Read moreThe bad news keeps piling up for General Electric shareholders as the company announces worse than expected insurance portfolio results. GE said on Tuesday after a review of its GE Capital insurance portfolio it will take a $6.2 billion after tax charge for the fourth quarter of 2017 and expects to contribute $15 billion over […]
Read more
Currency, United States Finance
Carillion collapse: Here's a list of the construction jobs that are most at risk
Further to the AWPR, Balfour Beatty was working with Carillion on two other contracts, comprising of operations on the A14 road in Cambridgeshire and a motorway contract in the northwest of England. The financial impact for Balfour Beatty was estimated to be in the range of £35 million ($48 million) and £45 million, the company […]
Read moreBitcoin’s price has been on a wild ride since its inception. 2017 alone saw massive gains, starting the year at under $1,000 and, at its peak, breaking $19,000, according to industry site CoinDesk. On Tuesday, it was trading at $11,943, a decline of 12 percent, according to CoinDesk. As bitcoin’s popularity surges and its price […]
Read moreA petition in South Korea against cryptocurrency regulation has reached the number of signatures that would induce a government response. As of Tuesday morning, ET, more than 212,700 had signed a petition launched Dec. 28 on the website of the South Korean presidential office. A Google translation of the website states that if more than […]
Read moreThe seemingly unstoppable rally that’s pushed the stock market to record high after record high is based on emotions not fundamentals, billionaire investor Sam Zell told CNBC on Tuesday. “I think the current situation seems like irrational exuberance,” said the founder and chairman of the property specialist firm Equity Group Investments. Referring to “irrational exuberance,” […]
Read moreAmazon to pop 23% this year to near $800 billion value, says Wall Street's new biggest bull on stock
Amazon stock will add to its historic run in 2018 thanks to its booming advertising business, according to a new bull on Wall Street. BMO Capital Markets raised its price target on Amazon to $1,600 from $1,200, the highest 12-month forecast on the e-commerce company of any brokerage on Wall Street. The target represents a […]
Read moreTalk about a hot start. The Dow Jones transportation average has been up each day in 2018, notching nine-straight days of gains for its longest winning streak in four years. And some market watchers see more gains to come in the short term. Boris Schlossberg of BK Asset Management said the tax cuts will help […]
Read moreFacebook’s pivot away from news will pay off in the long run, according to Wall Street analysts. The company announced on Thursday a major change to its newsfeed. CEO Mark Zuckerberg said the internet firm will start prioritizing “meaningful social interactions” versus “relevant content,” and that he expects the time people spend on the social […]
Read moreCurrency, United States Finance
Carillion’s collapse could highlight a much wider problem for UK pensions
Carillion‘s pension savers will see a minimum of a 10 percent drop in their retirement income, but more broadly, the collapse of the firm should be a “wake-up call” for every U.K. pension saver, according to a financial consultancy. “The collapse of Carillion further underscores the colossal black hole in many defined benefit pension schemes. […]
Read more