How commission-free trading app Robinhood tries to make money
After raising more money from top Silicon Valley investors, Robinhood has quadrupled its valuation in about a year to more than $5 billion. Less clear is how the operator of a commission-free stock trading app generates enough money to justify...
‘Don’t be a bonehead,’ buy Tesla shares: Analyst
“Bondhead” investors could miss a big opportunity by betting against electric carmaker Tesla and chief executive Elon Musk, according to brokerage firm Nomura Instinet. Even though Tesla remains one of the most shorted stocks in the U.S. equity market, analysts...
Monetary policy: Argentina takes its bitter medicine
Illustration: Jonathan Williams Gradualism is dead in Argentina. In its place a new strategy has been devised to tackle the country’s monetary and fiscal challenges. It has just begun to be implemented. But it is going to be a strong,...
Consumer sentiment holds steady in May as Americans anticipate Fed rate hikes
Consumer sentiment was slightly higher than anticipated in the beginning of May, coming in line with revised April results. The University of Michigan’s Friday report on consumer attitudes about the economy hit 98.8 in a preliminary May reading, higher than...
GOP Sen. Pat Toomey: President Trump doesn’t have the authority to exit NAFTA
Sen. Pat Toomey told CNBC on Friday the Trump administration doesn’t have the unilateral authority to pull out NAFTA. “NAFTA wasn’t a treaty. It’s an agreement,” the Pennsylvania Republican said on “Squawk Box.” “The president doesn’t have any more authority...
Argentina’s banks face strategy dilemma
Argentina’s economy minister Nicolás Dujovne meets with IMF MD Christine Lagarde on Thursday The slow pace of Argentina’s fiscal reform programme finally caught up with its government last week and, compounded by an error in monetary strategy at the end...
JP Morgan upgrades Verizon, says hefty dividend and 5G plans will boost shares
Verizon Communications shares should rise this year as a healthy dividend yield lures investors ahead of clarity on its path for 5G wireless, according to J.P. Morgan. The firm raised its rating on the company’s shares to overweight from neutral,...
Bitcoin drops to 3-week low, other cryptos plunge after prosecutors raid largest Korean exchange
Major cryptocurrencies tumbled Friday after news prosecutors raided UpBit, the largest cryptocurrency exchange in South Korea. Bitcoin fell 5.5 percent to $8,511, its lowest since April 20, according to CoinDesk’s bitcoin price index. The cryptocurrency traded near $8,563 as of...
St. Louis Fed’s Bullard says rates already near neutral, no more raises needed
St. Louis Federal Reserve Bank President James Bullard on Friday spelled out the case against any further interest rate increases, saying rates may already have reached a “neutral” level that is no longer stimulating the economy. Going further at this...
Country risk: Debt-ridden Angola turns a corner
The eagle has landed: Investors could soon spread their wings in Angola Within the top-five most improved countries on a year-on-year basis in Euromoney’s country risk survey, Angola has climbed 18 places in the global risk rankings, more than any...
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