OPEC and non-OPEC producers have the capacity to extend and deepen their production cuts should the oil market’s situation become even more complex, Russia’s Oil Minister Alexander Novak told CNBC on Monday. “If necessary, we can extend the agreement. If necessary, we can increase the amounts that need to be reduced or on the contrary, […]
Read moreDelivery service companies UPS and FedEx could be bigger winners from Amazon‘s Prime Day, CNBC’s Jim Cramer said Monday. “If it’s really that great … just play them,” Cramer said on “Squawk on the Street.” Cramer spoke before Amazon’s third annual Prime Day begins Monday evening. The e-commerce giant launched the discounting event on July […]
Read moreFor the co-founder of a company that warns new staff that “adequate performance” will result in a “severance package”, Reed Hastings does not come across as a typical tough guy. Breezy and relaxed, the 56-year-old chief executive of Netflix delivers chilling statements with unnerving warmth. “We are modelled on sport and if you want to […]
Read moreA new note from KeyBanc Capital Markets analyst Andy Hargreaves suggests that Apple still hasn’t figured out a way to fit a fingerprint reader on the iPhone 8. Several reports have suggested Apple has been battling this problem, which might cause delays of the most high-end OLED iPhone model beyond the expected September launch time […]
Read moreShares of Best Buy slid more than 7.5 percent on Monday following news from Recode that Amazon plans to launch its own Geek Squad service. Best Buy’s Geek Squad helps customers setup and troubleshoot gadgets. Best Buy reported unexpected first quarter growth in May, when shares hit an all-time intraday high of $60.14. It attributed […]
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Paris is the only other European city with everything major banks need: Safran chairman
Paris is the only European city to offer a credible alternative to financial institutions seeking to scale back their London presence in a post-Brexit world, according to the chairman of Safran. “Paris like London is a large world city. We can offer financial services companies but other business a very good home. We have the […]
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Passive investing boom is creating a 'frightening' risk for markets, Morgan Stanley says
Passive investment strategies have grown in popularity among investors, but they present a “frightening” risk to the markets, warns a Morgan Stanley strategist. The flow of investment from active management funds to passive investment funds is significant; it increased to nearly $500 billion in the first half of 2017, according to Bloomberg data. Morningstar data […]
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France’s Prime Minister pledges to cut tax burden by $8 billion from 2018
France’s Prime Minister has promised to reduce the tax burden by around 7 billion euros ($7.98 billion) from next year by reigning in public spending. Edouard Philippe said at the weekend the government would focus on reducing the budget deficit below the EU-agreed cap of 3 percent of economic output this year. “We are going […]
Read moreCostco 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 […]
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