With the holiday season approaching, this week Target became the first low-wage chain to announce it will raise pay to $15 an hour. Chief executive Brian Cornell said the decision to raise wages to $15 by 2020 will help Target attract and retain talent as the hyper-competitive retail sector enters its busiest quarter. It also […]
Read moreCheck out which companies are making headlines before the bell: Nike – Nike reported quarterly profit of 57 cents per share compared to consensus estimates of 48 cents. The athletic footwear and apparel maker’s revenue was essentially in line, but it did post its slowest quarterly sales growth in almost seven years amid intensifying competition. […]
Read moreNew orders for key U.S.-made capital goods increased more than expected in August and shipments maintained their upward trend, pointing to underlying strength in the economy despite an anticipated drag to growth from Hurricanes Harvey and Irma. The Commerce Department said on Wednesday non-defense capital goods orders excluding aircraft, a closely watched proxy for business […]
Read moreThere’s no reliable way to predict when or exactly why a bull market will finally end. But how the market will behave when a peak is closely approaching tends to follow some broad patterns that can be tracked by investors. Longtime students of the market cite a handful of conditions that typically emerge when the […]
Read moreReports suggesting that sales of Apple‘s new iPhone 8 series are weak are “excessively negative,” according to KGI Securities analyst and authoritative Apple watcher Ming-Chi Kuo. Earlier this week, Citi Research said sales of the phones are expected to fall short. Citi cited thinner lines and quicker shipping times as evidence that demand for the […]
Read moreThe Equifax hack reveals something that is absurdly obsolete: your Social Security number. The Equifax CEO, Richard Smith, announced his sudden retirement today following an epic data breach affecting 143 million people. The announcement comes just a week before he was to testify before the Senate Banking Committee. While his questionable retirement announcement makes for […]
Read moreRepublicans will unveil sweeping changes to America’s tax code Wednesday in a proposal that dramatically lowers taxes on businesses and many households but remains silent on thorny issues such as how to pay for it all. A joint product of the Trump administration and Republican leadership, the framework, obtained by CNBC, calls for lowering the […]
Read moreThe stock market could come within a hair of a correction in the next three months, Wells Fargo says. Scott Wren, senior global equity strategist at the Wells Fargo Investment Institute, sees problems for the S&P 500 as the record year comes to a close. “Our midpoint of our target range for year-end 2018 is […]
Read moreU.S. fast-food chain operator Sonic said on Tuesday it had been notified of unusual activity regarding credit cards used at its drive-in outlets. Sonic’s credit card processor informed the company earlier this week of the activity, which could have affected an unknown number of its payment systems. Cyber security blog KrebsOnSecurity first reported the news […]
Read moreCurrency, United States Finance
European rail mega-merger is about business not politics, Siemens and Alstom CEOs tell CNBC
Siemens and Alstom’s decision to merge their rail operations is about business and not politics, according to the companies’ CEOs, despite the deal being framed as a response to China’s advancing dominance. “The rationale is undoubtedly (to do with) business, it’s a unique opportunity to create a global leader and a European champion… in a […]
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