Raymond James says regional banks with Texas exposure will face some short-term difficulties from the damage caused by Hurricane Harvey, but lending will pick up into next year because of the rebuilding efforts. There will be several “major areas of impact. The first being business interruption, several banks have closed branches and that can continue […]
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The combination of Hurricane Harvey and another round of geopolitical turmoil from North Korea has spurred fears of market and economic disruption. But one pro says both could be setting the stage for a big upsurge. Economists expect Harvey in particular to cause untold billions of dollars in damages, while Kim Jong Un’s latest missile […]
Read moreTarget is struggling mightily to compete with Amazon in retail, but it’s finding other ways to fight back. The discount retailer is scaling back its use of Amazon Web Services, according to sources familiar with the matter, as the company aims to take greater control over its infrastructure and stop financing its chief rival. Amazon’s […]
Read moreInternet users who believe their (real) lives in the physical world will be shielded from online behavior are mistaken, cybersecurity experts say. “The notion that there’s this world on the internet and then there’s real life, and that these are two separate things is simply not true anymore,” says Eva Galperin, director of cybersecurity at […]
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Exactly four weeks since bitcoin split into bitcoin and bitcoin cash, the original digital currency hit a record high Tuesday while the offshoot fell to its lowest in more than a week. Bitcoin rose more than 6.5 percent, to a record high of $4,703.42, up nearly 70 percent for the month, according to CoinDesk. Bitcoin […]
Read moreMaterials stocks have lagged the broader market this year, but one Wall Street firm thinks there are reasons for the sector to outperform. Jefferies’ research analysts upgraded the sector to overweight from underweight and shared top stock ideas in two notes to clients Monday. They rest their outperform rating on high commodity prices, a weaker […]
Read moreUnless something dramatic happens, the Federal Reserve won’t be hiking interest rates again until well into 2018, according to current market predictions. Fed funds futures — contracts that indicate where the market thinks the central bank’s benchmark rate will be — point to no further moves until at least next June, and possibly a good […]
Read moreStocks turned positive Tuesday in part because investors hope Hurricane Harvey could unite Congress on its budget, closely followed trader Art Cashin told CNBC. “I don’t want to call it a silver lining given the tragedy of what’s going on in Texas but there may be a little bit of bonus in the fact that […]
Read moreLast Tuesday, California state Senator Hannah-Beth Jackson introduced a bill that will amend the California civil code to tackle an on-going pattern of sexist conduct in Silicon Valley — specifically the sexual harassment in the venture capitalist-entrepreneur context. The bill is a direct reaction to a story published in June in which two dozen women […]
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“A LEADER is a dealer in hope,” said Napoleon Bonaparte. For much of this year Uber, the ride-hailing firm, has lacked both leadership and optimism. But on August 27th news leaked that Uber had poached as its new chief executive Dara Khosrowshahi, the boss of Expedia, an online-travel company. Mr Khosrowshahi is seen as both […]
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