If Amazon‘s servers were to go down, the internet would be in big trouble, Reddit co-founder Alexis Ohanian said Friday. Many of the websites that we “know and love” rely on Amazon’s infrastructure, Ohanian told CNBC. “The internet kind of skips a beat,” Ohanian said on “Squawk Box.” “So many companies are contingent on that. […]
Read moreA daily morning look at the financial stories you need to know to start the day. STOCKS/ECONOMY -Stock futures are higher this morning after Thursday’s broad selloff. We get personal income and spending data this morning along with consumer sentiment. -St. Louis Fed President James Bullard says more Fed rate hikes now would be too […]
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As technology stocks dive and the tech-heavy Nasdaq Composite is set to log its first monthly loss since October, some strategists are forecasting further weakness for technology in the near term — with an upward resumption further out. “The sector is in for what I call an intermediate-term correction,” Robert Sluymer, technical strategist at Fundstrat […]
Read moreCheck out which companies are making headlines before the bell: Bank of America – Berkshire Hathaway will exercise warrants to buy 700 million common shares of Bank of America, using its $5 billion in preferred shares as consideration. Its exercise price is just above $7.14 per share, well below where Bank of America is currently […]
Read moreBecause of an astute investment made in Bank of America six years ago while the bank was struggling, Warren Buffett is about to make a quick $12 billion and become the financial institution’s largest shareholder. Buffett‘s Berkshire Hathaway said Friday it will exercise warrants in Bank of America that will allow it to acquire 700 […]
Read moreMajor banks are betting on artificial intelligence (AI) to act like a digital personal assistant to customers, helping to automate money-making decisions, top CEOs in the sector told CNBC, amid the continued threat from new, more nimble entrants into the market. “Really people don’t like banking , it’s boring, it takes time, causes them stress, […]
Read moreJapan’s central bank issued a rare apology on Friday over a board member’s praise for Adolf Hitler’s economic policies. Yutaka Harada, a member of the board of the Bank of Japan, told a seminar on Thursday Hitler’s economic policies had been “appropriate” and “wonderful” but had enabled the Nazi dictator to do “horrible” things to […]
Read moreSony Music is moving the needle on the way it produces music as demand for vinyl records continues to grow in Asia. From early-2018, the global record label is to resume in-house vinyl production at a Japanese factory in Tokyo. The launch marks almost three decades since the firm’s Japanese arm ceased production of the […]
Read moreEuro zone inflation eased in June because of more moderate energy price rises, but the slowdown was less than expected by markets and the core measure of price growth the ECB keenly watches increased by more than anticipated. The European Union’s statistics office Eurostat estimated that consumer prices in the 19 countries sharing the euro […]
Read moreOnline food takeaway company Delivery Hero appeared to whet investors’ appetite on Friday as its shares surged higher on the company’s stock market debut. “I’m glad we have had a good start but this is really about the long term… (it’s) about the next 10 to 15 years to build a very good service,” CEO […]
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