Jefferies 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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UK to start the process of ending 40 years of EU control — Here’s what you need to know
The U.K. government is to present Thursday a draft bill that will affect all kinds of laws that have governed the country for more than 40 years – the so-called Repeal Bill. This is a key step to take the U.K. out of the European Union and avoid legal chaos. But it’s certain to raise […]
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DR WHO, the long-running British science-fiction hero, has a long-standing device to get him out of tricky situations; a piece of “psychic paper” that lulls the viewer into accepting the doctor’s credentials. Apparently blank, the paper says whatever the Doctor wants it to say. The British government under Theresa May apparently thinks the 2016 EU […]
Read moreNASA’s Juno spacecraft will fly directly over Jupiter’s Great Red Spot later today, offering the first ever ‘close up’ of the 10,000 mile-wide storm. The gaseous red spot has been monitored by humans since 1830 according to NASA and is thought to have raged for as much as 350 years. “This monumental storm has raged […]
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Newspapers to bid for antitrust exemption to tackle Google and Facebook
The news industry is to band together to seek a limited antitrust exemption from Congress in an effort to fend off growing competition from Facebook and Google. Traditional competitors including The Washington Post, The Wall Street Journal and The New York Times, as well as a host of smaller print and online publications, will temporarily […]
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