72-year-old Fidelity bets on the future with blockchain, virtual reality and AI
“What are you doing here?” a young engineering student asked Vipin Mayar, the head of artificial intelligence initiatives at Fidelity Investments, at a MIT conference in San Francisco. As Mayar recalled, “They were all just… surprised.” Fidelity executives are getting...
How the US’s ‘mini-recession’ helps explain the economy’s current growth spurt
Sometimes the most important economic events announce themselves with huge front-page headlines, stock market collapses and frantic intervention by government officials. Other times, a hard-to-explain confluence of forces has enormous economic implications, yet comes and goes without most people even...
Congress members ask SEC chairman for clarity on cryptocurrency regulation
Calls for more clarity on cryptocurrency regulation are now coming from Congress, not just bitcoin fanatics. More than a dozen members of the House of Representatives sent a letter to Securities and Exchange Chairman Jay Clayton Friday urging his agency...
AMD shares fall after Intel says it can make enough chips to meet its guidance
AMD shares were dropping sharply Friday after its main competitor reassured investors about its ability to make enough chips to meet demand. Intel’s interim CEO, Bob Swan, said the chipmaker has enough supply to meet its full-year revenue outlook in...
This couple saved $600,000 in four years – and they want to teach you how to do it, too
At 6-foot-4, Matt Owen is too tall to stand up straight in his own house. But the bright red Mercedes-Benz Sprinter was the biggest van he could find. “This is between 60 and 80 square feet,” Owen said, sitting at...
It’s hip to be cheap as hotels democratize design
If you haven’t visited a college campus, secondhand store or seen “Crazy Rich Asians,” in which one of the central characters possesses a Jamba Juice freebie card, you may not have heard: Thrift is cool. In hospitality, that spirit has...
September consumer sentiment tops triple digit mark for only the third time since January 2004
Consumer sentiment was just under expectations in the final reading of September but the index remained near all-time high levels. The University of Michigan’s monthly survey of consumers hit 100.1 in the final reading of September, below the 100.8 expected...
Evercore ISI hikes Nvidia price target to $400, a Street high on chipmaker’s A.I. leadership
Nvidia shares will soar due to the company’s booming chip sales in key high-growth technology markets, according to Evercore ISI. The research firm reiterated its outperform rating and increased its price target for Nvidia shares to $400 from $300, representing...
Bank of America Merrill Lynch cracks down on risky securities with ban on penny stocks
Penny stocks are no longer welcome at Bank of America’s Merrill Lynch brokerage. The company recently told clients it was changing its trading policy regarding penny stocks. The bank’s Merrill Lynch division banned purchases of the risky securities in late...
US consumer spending increased steadily in August
U.S. consumer spending increased steadily in August, while a measure of underlying inflation remained at the Federal Reserve’s 2 percent target for a fourth straight month. The Commerce Department said on Friday consumer spending, which accounts for more than two-thirds...
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