Online crafts marketplace Etsy‘s shares soared Thursday after announcing it’ll take a larger percentage of each sale and raising its full-year guidance to reflect the higher revenue. Shares opened up roughly 23 percent at $40.86, after closing Wednesday at $32.99. The company said Thursday it was raising the base take rate — or the percentage […]
Read moreGoogle has announced that it will open an artificial intelligence (AI) research center in Africa, its first on the continent. The Silicon Valley giant said that the new research hub will open in Accra, Ghana, later this year, announcing the move in a blog post published on Wednesday. “We’re committed to collaborating with local universities […]
Read moreE-scooter start-ups are annoying and wildly overvalued, say the skeptics. E-scooters are super fun and poised to change urban transportation as we know it, say the optimists. Investors bidding up scooter prices are motivated not by fundamentals but by FOMO (fear of missing out), say the bears. But we all want fewer air-polluting cars on […]
Read moreCurrency, United States Finance
Euro slides as Draghi delivers a ‘dovish’ end to the ECB’s easy money
The euro fell sharply after the European Central Bank (ECB) outlined its exit from quantitative easing (QE), but also claimed interest rates won’t likely budge for more than a year. Sitting at around 1.1818 versus the dollar before the announcement, the euro fell to 1.1681 during Draghi’s subsequent press conference, shipping around 0.9 percent in […]
Read moreU.S. retail sales increased more than expected in May as consumers bought motor vehicles and a range of other goods even as they paid more for gasoline, the latest indication of an acceleration in economic growth in the second quarter. The Commerce Department said on Thursday retail sales jumped 0.8 percent last month, the biggest […]
Read moreFacebook is being used less and less to find and share news while people are increasingly turning to alternative platforms like Whatsapp instead, according to a study. The use of Facebook for news dropped by 9 percent from 2017 to 2018 in the U.S., research by Oxford University’s Reuters Institute found, with news consumption among […]
Read moreKohl’s stock has gotten ahead of itself and it’s time to “step aside,” according to Citigroup, which downgraded the company to neutral from buy on lingering fears of weak traffic. “Outside of a major announcement of their partnerships expanding (which could help traffic), Kohl’s still has a challenge to drive traffic on its own,” analyst […]
Read moreCurrency, United States Finance
ECB says its massive bond-buying program will likely end in December
The European Central Bank (ECB) outlined plans to end its massive stimulus program by the end of this year, but keep interest rates steady until next summer. The bank said Thursday that if incoming data followed its forecasts, then its monthly bond purchase program would be extended through to the final quarter of the year, […]
Read moreOracle is losing favor among technology buyers to leading cloud computing vendors, according to J.P. Morgan. The firm lowered its rating to neutral from overweight for Oracle shares, citing negative results in a spending survey of chief information officers. Oracle’s “specific metrics in our large-scale CIO survey have arced over into negative territory, which makes […]
Read moreJ.P. Morgan Private Bank’s Stephen Parker is highlighting three groups that could outperform as interest rates climb. His first top pick: energy. “If you go back and look historically near the end of a cycle, energy has almost always outperformed and often times by a pretty meaningful amount,” the bank’s head of thematic equity solutions […]
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