Amazon boss Jeff Bezos is now $50 billion richer than any other person alive. Bezos is currently worth $143.3 billion, according to Forbes, which is just over $50 billion more than the next richest person alive, Microsoft co-founder Bill Gates, who is currently worth over $93 billion. In the context of other billionaires, that $50 […]
Read moreDespite payment company Square‘s recent moves with bitcoin, the growth of its mobile payment app has been immune to the cryptocurrency’s price nosedive, according to Nomura Instinet. Square Cash, which officially launched crypto trading in late January, has been able to “decouple” from bitcoin and is growing roughly three times faster than Paypal’s Venmo, with […]
Read moreShares of Papa John’s cratered on Wednesday after a report surfaced alleging that founder John Schnatter used a racially charged slur during a conference call in May. According to a report by Forbes, Schnatter was on a call with marketing agency Laundry Service when he tried to downplay comments he made about the National Football […]
Read moreRestoration Hardware, Williams-Sonoma and other U.S. furniture manufacturers that import sofas, tables and other goods from China could take a hit in the Trump administration’s latest round of tariffs released Tuesday, according to Goldman Sachs. The White House on Tuesday released a list of tariffs on $200 billion in imports that could hit U.S. manufacturers […]
Read moreNetflix will dominate the online video subscription market for the next decade due to the strength of its original content, according to Credit Suisse. The firm’s analyst assumed coverage on Netflix shares with an outperform rating, citing unparalleled size of its membership base. “The first U.S. premium pay service, HBO, has never seen its clear […]
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TradingAnalysis.com founder Todd Gordon said that the market is potentially on the verge of a major move out of a consolidation phase, and there’s one sector that he sees breaking out. Of the 11 sectors of the S&P 500, Gordon believes consumer discretionary is set to rally along with the broader market. The chart-minded trader […]
Read moreThe Indian government has issued a stern warning to Cambridge Analytica, the now-defunct political consultancy, over its operations in the country. The embattled former firm had “better come on board or face the consequences,” Ravi Shankar Prasad, India’s minister for its Information Technology and Law and Justice departments, told CNBC on Tuesday. Former Cambridge Analytica […]
Read moreCurrency, United States Finance
Trump and Merkel put on a brave face to the press at NATO summit after awkward build-up
President Donald Trump and German Chancellor Angela Merkel put a brave face on the war of words taking place on the sidelines of a NATO summit in Brussels on Wednesday. Leading up to the meeting, Trump took several opportunities to criticize Berlin for its low level of spending on defense, despite a 2014 voluntary commitment […]
Read moreCongressional Republicans who oppose the Trump administration’s mounting trade conflicts around the globe appear increasingly helpless as the president threatens more tariffs on top trading partners. As a trade war with China could widen and damage a broader swath of the U.S. economy ahead of November’s midterm elections, GOP lawmakers hold little leverage over a […]
Read morePfizer‘s announced reorganization could lead to an eventual spin off of its consumer health-care business, CNBC’s Jim Cramer said on Wednesday. The drug giant said it would reorganize into three units: Innovative Medicines, Established Medicines, and Consumer Healthcare, which it had been trying to sell since last year. The changes take effect at the start […]
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