Costco shares were downgraded by BMO Capital Markets even after the company posted strong June sales figures last week, because the analyst believes the wholesale club’s results don’t matter in light of Amazon’s growing grocery enterprise. “Despite our continued belief that Costco’s fundamental outlook remains strong,” wrote BMO analyst Kelly Bania in Monday’s report, “the […]
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GULLIVER is rarely fazed by what happens below the line of his posts. Receiving the occasional shoeing from readers—sometimes insightful, sometimes not—goes with the job. And he has certainly found his views swayed by well-reasoned arguments he finds there. But he was truly gobsmacked at the discussion that ensued from a piece last year about […]
Read moreFor 15 years, Best Buy’s Geek Squad installation and repair service has served as one key advantage over Amazon that the e-commerce giant seemed unlikely to match. But over the last few months, Amazon has quietly been hiring an army of in-house gadget experts to offer free Alexa consultations as well as product installations for […]
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Just 100 firms attributable for 71% of global emissions, report says
Just 100 companies have been identified as accountable for more than 70 percent of the world’s greenhouse gas emissions, according to a report published Monday. The Carbon Majors Report, published in collaboration with the Climate Accountability Institute, found that more than half of industrial emissions worldwide could be sourced to only 25 corporate or state-owned […]
Read moreJefferies downgraded Intel from hold to underperform on Monday, saying the chipmaker has the “most to lose” in the “4th tectonic shift in computing.” Jefferies said it is downgrading Intel because “its Xeon/Xeon PHI platform is disadvantaged vs NVidia in emerging parallel workloads like deep neural networking.” Jefferies calls out several areas of concern for […]
Read moreA joint Russian-US working group on cybersecurity, proposed by President Vladimir Putin in a discussion with US President Donald Trump in Hamburg, is unlikely to be launched any time soon, a Russian official said on Monday. “President Putin proposed forming a working group. This does not mean that it should start working immediately, virtually tomorrow,” […]
Read moreActivist investor Dan Loeb is keeping up pressure on Nestle by sharing views with the company as part of a regular dialogue, a source familiar with the matter told Reuters. Loeb’s Third Point hedge fund revealed a $3.5 billion stake in Nestle on June 25, making it the eighth-largest shareholder, urging the world’s largest packaged […]
Read moreThe Kremlin said on Monday that Ukraine’s potential membership of the North Atlantic Treaty Organization (NATO) would not boost stability and security in Europe. Ukraine and NATO will begin discussions on a roadmap to get Ukraine into NATO, with Kiev pledging to make the necessary reforms by 2020, President Petro Poroshenko said earlier on Monday. […]
Read moreA daily morning look at the financial stories you need to know to start the day. STOCKS/ECONOMY -Stock futures are mixed after Friday’s rally. We get May consumer credit data this morning. -Investors have pulled almost $27 billion out of Goldman Sachs mutual funds so far this year. OIL/ENERGY -U.S. crude oil prices are down […]
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Saudi Aramco CEO says oil market could see inflection point, confirms IPO still on track for 2018
A turning point in the oil market is on the horizon amid a sharp drop in investments and a lack of fresh conventional discoveries, Saudi Aramco’s chief executive told CNBC on Monday. “A lack of investment is definitely not helping, so if that continues over the next couple of years there will be an inflection […]
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