“DON’T be evil” is Google’s corporate motto. If only it were so simple. The online-search giant is in a tricky spot after an employee published a long, anonymous memo online about why women are under-represented in the technology industry. The main reason may not be sexism, asserted James Damore, the young Harvard-educated software engineer later […]
Read moreA trade war between the U.S. and China is brewing and could be the biggest risk for global investors, a prominent asset manager told CNBC. “We may be brewing up for a trade war because of the mistaken way that many policymakers interpret the trade issues. I don’t believe that the U.S. trade deficit is […]
Read moreIn the wake of announcing a major acquisition, stronger comparable sales results in North America and Europe helped fuel Michael Kors‘ profit and revenue to top Street expectations in its fiscal first quarter. Michael Kors said Tuesday that its net income attributable to the company dropped 15 percent to $125.5 million, or 80 cents per […]
Read moreJeffrey Gundlach joins the list of fund managers sounding warnings about the markets. Like Oaktree Capital’s Howard Marks, Gundlach is seeing danger signs. Junk bonds and emerging market debt are overvalued, Gundlach tells Bloomberg News. The manager of $110 billion-asset DoubleLine Capital says he’s moving out of those assets and putting money in higher quality […]
Read moreFormer Federal Reserve Chairman Alan Greenspan is wrong about a bond bubble, and interest rates can go much lower, closely followed strategist Mark Grant said Tuesday. Greenspan warned on Friday that the bond market is on the cusp of a collapse that will threaten stock prices. Once it starts “it will be rather rapid,” he […]
Read moreVictims of bank fraud should not expect automatic refunds and are sometimes at fault for not taking a “duty of care”, the CEO of RBS has reportedly said. Chief Executive Ross McEwan said that banks could not always be blamed if customers give out their account details to online scammers, according to U.K. newspaper the […]
Read moreCheck out which companies are making headlines before the bell: CVS Health – CVS earned an adjusted $1.33 per share for its latest quarter, two cents a share above estimates. Revenue also topped forecasts, boosted by strong performances in its specialty pharmacy and benefits management businesses. Time Inc. – The magazine publisher beat estimates by […]
Read moreBitcoin broke through the $3,500 mark for the first time on Tuesday hitting a fresh record high as uncertainty over the future of the cryptocurrency subsided. The digital currency hit an-all time high of $3,525.04 before pulling back to around $3,481 early on Tuesday. Bitcoin’s record high marks a 264 percent year-to-date rise and comes […]
Read moreHarvard computer science professor Radhika Nagpal will begin using a robotic toy she helped developed, Root, to teach coding languages like Python and Javascript in her undergraduate courses this fall. She is already using a Root prototype in her research lab. The hexagonal Root, priced at $199, looks something like iRobot’s Roomba vacuum cleaners. But […]
Read moreChinese ride-hailing giant Didi Chuxing has announced plans to expand its business in the Middle East and North Africa. The Uber rival said it would enter into a strategic partnership with the Dubai-based car booking service Careem to strengthen its presence in the region. It follows the firm’s decision last Tuesday to team up with […]
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