• 'Like a red herring': Why one CIO says earnings are irrelevant this year
    Yahoo Finance

    'Like a red herring': Why one CIO says earnings are irrelevant this year

    Earnings season for banks begins Oct. 15, when J.P. Morgan Chase, Citigroup and Wells Fargo are scheduled to announce their Q3 results. However one CIO says earnings are not the focus in the market.

  • Amazon Stock Highlights: Week 2, October 2019
    Market Realist

    Amazon Stock Highlights: Week 2, October 2019

    In the last week, we looked at Amazon Inc (AMZN) stock trends. Here is another attempt to decode the same patterns for the second week of October 2019.

  • Trade war pause, retail sales, bank earnings – What to know in the week ahead
    Yahoo Finance

    Trade war pause, retail sales, bank earnings – What to know in the week ahead

    The coming week’s docket of economic reports and earnings releases comes just following the Trump administration’s announcement of a partial trade deal with China late last week.

  • D. E. Shaw & Company: Top Holdings and Fears
    Market Realist

    D. E. Shaw & Company: Top Holdings and Fears

    David Elliot Shaw or D.E. Shaw is a prominent billionaire hedge fund manager and founder of the firm D. E. Shaw & Company.

  • Jaguars' Shad Khan: 'It's taken a while' for NFL owners to warm to betting
    Yahoo Finance

    Jaguars' Shad Khan: 'It's taken a while' for NFL owners to warm to betting

    “The NFL has really been obsessed with the integrity of the sport," the owner of the Jacksonville Jaguars said.

  • Cambridge Analytica whistleblower slams Facebook for 'stalker' practices
    Yahoo Finance

    Cambridge Analytica whistleblower slams Facebook for 'stalker' practices

    Cambridge Analytica whistleblower Christopher Wylie blasted Facebook’s continued influence after its widely publicized data scandal,

  • Financial Times

    Global regulators put pressure on Libra with enhanced scrutiny

    Facebook’s plans for a digital currency are coming under further pressure as global regulators step up their scrutiny of the troubled Libra project. In a letter to G20 finance ministers on Sunday, Randal Quarles, the head of the global Financial Stability Board, said that, with a “host of challenges” posed by global “stablecoins”, such as Libra, “possible regulatory gaps should be assessed and addressed as a matter of priority”. This, the letter said, created challenges including financial stability, consumer and investor protection, data privacy, money laundering, terrorist financing, fair competition, cyber security and tax evasion.

  • Financial Times

    Facebook’s hubris comes at a heavy cost for Libra

    As it meets with backers on Monday, Facebook is realising just how much. Digital transformation in banking is welcome, but regulators are right to argue that Facebook has yet to make the case for its own e-bucks. Libra — billed as a “stablecoin”, pegged to a basket of currencies — was sold as a disrupter that could bank the unbanked and slash transaction costs and times.

  • Financial Times

    California’s new model for fixing inequality

    The Democratic presidential candidate would like not only to break up Big Tech, but tax companies such as Facebook and people like Mr Zuckerberg a lot more. It galls me not that I pay roughly half my income in taxes, but that I do so because I earn it from actual work while those who earn money from rising share prices pay much less. , a book by Emmanuel Saez and Gabriel Zucman, who are advising Ms Warren on tax issues, including the details of how to tax wealth rather than just income.

  • Financial Times

    Brexit, US third-quarter earnings, Chinese economic data

    This will be a key week for Brexit because Boris Johnson will need to ask Brussels for an extension on the UK’s withdrawal from the EU under the terms of the Benn Act if parliament has not approved either a deal or no-deal exit by Saturday. The European Council meets in Brussels on Thursday and Friday, where any deal reached will need to be signed off. Mr Johnson’s team is believed to be drawing up plans to fudge the most controversial issue dogging negotiations with Brussels: whether Northern Ireland should be part of the EU customs union to avoid the need for a hard border with the Irish Republic.

  • Financial Times

    Bill Gates expresses regret over meetings with Jeffrey Epstein

    The world’s second-richest man said in a statement through a spokesperson that he recognised it was “an error in judgment” ever to have met Epstein, who committed suicide two months ago while facing charges of trafficking underage girls. This had given Epstein “an undeserved platform”. Mr Gates is among several prominent figures to have moved in recent weeks to distance themselves from Epstein, who cultivated a network of rich and powerful associates from business, academia, politics and royalty.

  • UAW boosts strike pay as GM walkout continues
    Reuters

    UAW boosts strike pay as GM walkout continues

    The United Auto Workers union said Saturday it will boost strike pay for 48,000 hourly workers at General Motors Co by $25 a week to $275 as a strike against the largest U.S. automaker nears the end of its fourth week. Talks were continuing late Saturday afternoon to try to resolve the longest nationwide strike at GM since 1970, both sides said. The UAW also said it would allow members striking to take on part-time jobs without reducing their strike pay – as long as they perform picket-line duties.

  • Lyft follows Uber in suing NYC over cruising time caps
    Reuters

    Lyft follows Uber in suing NYC over cruising time caps

    The lawsuit, filed by the San Francisco-based ride-hail company on Friday, argues that the cruising rule is arbitrary and threatens to shift business away from ride-hailing companies like Lyft in favour of taxis. "This rule is not a serious attempt to address congestion, and would hurt riders and drivers in New York," Lyft spokesman Campbell Matthews said in a statement to Reuters. The "cruising cap" rule, implemented by the city's Taxi and Limousine Commission (TLC), sets a 31% limit on how much time drivers of app-based vehicles may drive without passengers in Manhattan south of 96th Street, meaning they would have to have fares at least 69% of driving time.

  • Buttigieg: 'There's no question there's anti-competitive behavior' in Big Tech
    Yahoo Finance

    Buttigieg: 'There's no question there's anti-competitive behavior' in Big Tech

    Democratic presidential candidate noted the anti-competitive behavior among Big Tech.

  • Twitch: Bezos Owns the Ace of Spades
    Market Realist

    Twitch: Bezos Owns the Ace of Spades

    Even with Jeff Bezos bought the video game streaming company Twitch, he raised a lot of questions. At the time, his vision was unclear.

  • Trump Opts for Bezos’s Twitch and Amazon
    Market Realist

    Trump Opts for Bezos’s Twitch and Amazon

    Bezos's Amazon (NASDAQ: AMZN) stock closed on Friday, October 11, at $1731.92. In the extended trading hours, the stock was around $1,732.

  • 'One app to rule them all is dead': How Uber and Lyft can get disrupted
    Yahoo Finance

    'One app to rule them all is dead': How Uber and Lyft can get disrupted

    In Berlin, companies like Uber don't have a dominant hold on transportation. Instead, many companies compete for a slice of the market.

  • Steve Schwarzman: Here's what people get wrong about Donald Trump
    Yahoo Finance

    Steve Schwarzman: Here's what people get wrong about Donald Trump

    The president's tweets aren't worth listening to, according to Blackstone's CEO, one of the world's top investors.

  • Financial Times

    Dennis Muilenburg stripped of Boeing chairmanship

    of his chairmanship of the crisis-hit aircraft manufacturer, keeping him on as chief executive but elevating David Calhoun, its senior independent director, to head the board. In a statement, Mr Calhoun said: “The board has full confidence in Dennis as CEO and believes this division of labour will enable maximum focus on running the business with the board playing an active oversight role.” Boeing would soon appoint a new director “with deep safety experience and expertise” to the board, he added.

  • Financial Times

    US law: damages limitation

    A damages award of $8bn against Johnson & Johnson this week proved the point. Carl Tobias, a law professor at the University of Richmond, points out that steep awards dished out by US juries are almost always reduced on appeal. A 2003 Supreme Court ruling means punitive damages should usually be no more than 10 times compensatory damages.

  • Financial Times

    Lossmaking tech shares face rough ride as lock-up clauses expire

    Some analysts warn of ripple effects — to other stocks and to the pipeline of new companies due to hit the public markets for the first time via initial public offerings. “Uber does not have a sustainable business model — the stock will drop when the lock-up period expires,” said Michael Underhill, chief investment officer for Capital Innovations, a fund manager that participates in IPOs.

  • 3 Stocks to Consider After US Reaches Partial Trade Deal With China
    Zacks

    3 Stocks to Consider After US Reaches Partial Trade Deal With China

    Investor optimism surged today after President Trump announced that a partial trade deal was reached with China today.

  • Boeing board strips CEO of chairman title amid 737 MAX crisis
    Reuters

    Boeing board strips CEO of chairman title amid 737 MAX crisis

    Separating the roles, which will enable Muilenburg to have "maximum focus" on steering daily operations, was the latest step the board has taken in recent weeks to improve executive oversight of its engineering ranks and industrial operations. Lead Director David Calhoun, a senior managing director at Blackstone Group, will takeover as non-executive chairman, Boeing said in its announcement, which came late on Friday afternoon without warning. It added that the board had "full confidence" in Muilenburg, who will retain the top job and remain on the board.

  • Tesla's (TSLA) Rally Could Be An Opportunity
    Zacks

    Tesla's (TSLA) Rally Could Be An Opportunity

    The market for electric vehicles is proven, and Tesla not only is the market leader, but it produces the highest-quality vehicles.

  • Is Apple Expediting Its 5G iPhone Launch?
    Market Realist

    Is Apple Expediting Its 5G iPhone Launch?

    Recent reports hint that Apple could release its iPhone 5G modem by 2022. Today, Apple stock hit a high of $233.81, with a market cap of $1.054 trillion.