US apple industry braces for tariffs and price drops on eve of harvest
Apple farmers across the nation say the triple threat of tariffs from Mexico, China and India will challenge their business. Crist Brothers Apple Orchards, Inc. in Walden, New York, harvested 20 million pounds of apples last year and has been...
The silence of Les Moonves spoke loud and clear
CBS CEO Les Moonves had the chance Thursday to speak to the investor community about allegations of sexual misconduct stemming from an eight-month investigation by Ronan Farrow for The New Yorker. Instead of addressing the claims, he chose to remain...
By one measure, stocks are as pricey as they were during the dotcom bubble: ‘Scariest chart in our database’
By one measure, stocks are as pricey as they were before the dotcom bubble burst, and that should give investors pause moving forward, according to Doug Ramsey of The Leuthold Group. The firm’s chief investment officer said in a note...
Job gains for the manufacturing industry in the last 12 months are the most since 1995
The U.S. government reported that the manufacturing sector added 37,000 jobs during July, pushing the industry to the best annual job gain in more than 20 years. Over the past year through July, U.S. manufacturing added 327,000 jobs, the most...
Square quietly changed bitcoin service to trade through private brokers instead of public exchanges
Square’s bitcoin service may not be a huge money-maker yet, but a little-known change from last quarter could turn it into a more sophisticated trading platform going forward. Square disclosed in its latest quarterly report that it’s now trading bitcoin...
Hedge funds fight back against tech in the war for talent
As Mario Roussanov, a recruiter for hedge funds, began making his annual visit to clients this year, the change was apparent. Cubicles had been replaced by open-plan layouts, workers were increasingly donning jeans and casual shirts at places that once...
Goldman Sachs sees more price pain ahead for bitcoin
Goldman Sachs is not optimistic for the near-term fate of cryptocurrency. In its mid-year economic report, the bank’s investment management group highlighted “cryptocurrency mania” as one of six factors creating an unsteady undertow affecting markets for the remainder of 2018....
U.S. Non-Manufacturing Activity Softens in July
In tandem with its manufacturing counterpart, the Institute for Supply Management’s (ISM) non-manufacturing index fell by 3.4 points to 55.7 in July. The headline print was below the consensus forecast, which called for a more moderate decline to 58.6. Despite...
Australia & New Zealand Weekly: Political Uncertainty Casts Doubt on the RBA’s Optimistic Employment Forecasts
Week beginning 6 August 2018 Political uncertainty casts doubt on the RBA’s optimistic employment forecasts. Australia: RBA policy decision, Governor Lowe speech, Statement on Monetary Policy, housing finance. NZ: RBNZ policy decision, inflation expectations, retail card spending. China: CPI, new...
Week Ahead – UK and Japan Next to Report GDP Figures; RBA and RBNZ Rate Decisions Eyed
There will be a continuation of the central bank and Q2 GDP theme in the next seven days as interest rate decisions will be awaited out of Australia and New Zealand, while the United Kingdom and Japan will publish growth...