Business News
Solid U.S. retail sales calm some worries about economy
U.S. retail sales increased more than expected in August, pointing to solid consumer spending that should continue to support a moderate pace of economic growth.
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Business News
IMF has a decision to make in Argentina: rock or hard place?
The International Monetary Fund has a tough choice to make in Argentina: Unlock over $5 billion in funds under the country’s loan deal as the government strains to stave off default, or hold the money back and risk sparking more market panic.
Business News
U.S. appeals court says Trump cannot dodge foreign corruption lawsuit
A U.S. federal appeals court on Friday revived a lawsuit alleging President Donald Trump violated the U.S. Constitution by profiting from foreign and domestic officials who patronized his hotels and restaurants, moving a watchdog group closer to obtaining financial records from his real estate company.
Business News
VW CEO shifts strategy from empire building to efficiency
Volkswagen has abandoned its decades-old obsession with empire building and no-expense-spared engineering to free up resources for the development and mass production of electric cars, its CEO Herbert Diess told Reuters.
Business News
Apple, Broadcom rein in Wall Street gains on trade optimism
Losses in shares of U.S. technology majors Apple and Broadcom set Wall Street for a subdued end to the week, as traders balanced the latest indicators of uncertain global growth outlook with perceived progress in Sino-U.S. trade relations.
Business News
Exclusive: WeWork considers dramatic valuation cut in IPO
WeWork owner The We Company may seek a valuation in its upcoming initial public offering of between $10 billion and $12 billion, a dramatic discount to the $47 billion valuation it achieved in January, people familiar with the matter said on Friday.
Business News
Hong Kong exchange vows to press on with $39 billion LSE bid after rebuff
Hong Kong’s exchange refused to give up on its bid to take over the London Stock Exchange after the British bourse emphatically rejected its $39 billion takeover offer on Friday.
Business News
UPS to pay $8.4 million to resolve U.S. overcharging probe
The U.S. Justice Department said United Parcel Service Inc has agreed to pay the United States $8.4 million to resolve allegations it overcharged federal agencies for package delivery services.
Business News
Indian’s top trader body seeks ban on Amazon, Flipkart’s festive season sale
A leading Indian trader body asked the government on Friday to ban upcoming festive sales on Amazon’s local unit and its rival Flipkart, saying their deep discounts violate the country’s foreign investment rules for online retail.
Trading Ideas
Income and Net Worth: Why Unequal Is Not Unfair
Economic inequality is a hot topic right now – especially when some Americans have been able to achieve extensive income and wealth compared with others.
Today, Alexander Green explains why there are good reasons for this disparity and what lagging individuals can do to catch up.
Over the past few weeks, we’ve been discussing the issue of economic inequality, how to think about it and what to do about it.
It’s quite true that some Americans have more income and wealth than others.
But is this unfair? Think about it.
Is it wrong for a doctor to make more than a nurse, a pilot to …read more […]
Business News
Stocks up for eighth day, bond yields climb on trade signs
A gauge of global stocks rose for an eighth straight day to a six-week high and benchmark government bond yields advanced on Friday as signs of progress in trade talks between the United and China, as well as a solid report on U.S. retail sales, allayed recession worries.
Business News
Apple, Broadcom hold back Wall Street gains
Losses for U.S. technology majors Apple and Broadcom overturned early gains on Wall Street on Friday, as traders balanced the latest indicators on an uncertain global growth outlook with perceived progress in reducing Sino-U.S. trade tensions.
Newsmakers
Phunware (NASDAQ: PHUN) Launches Location Experience Kit
Delivers Self-Serve Approach for Customers to Launch Real-time Location Based Services in Less than 24 Hours Phunware, Inc. (NASDQQ: PHUN) a fully-integrated enterprise cloud platform for mobile that provides products, solutions, data and services for brands […]
Business News
ECB hawks rally against Draghi’s farewell stimulus
Conservative policymakers slammed the European Central Bank’s lavish stimulus measures on Friday, voicing doubts about the need and effectiveness of a package that could consume most of the bank’s remaining firepower.
Business News
Draghi’s parting shot leaves next ECB boss with existential dilemma
Christine Lagarde will face a momentous decision in her first year as European Central Bank President: give up on reviving inflation or give in to the temptation of bankrolling governments with neverending bond purchases.