Europe’s largest bank tops expectations with rebounding profit
HSBC, Europe’s largest bank, made a comeback by beating estimates in its financial results for the first half of 2018 — following a surprise fall in profits in the first quarter. The bank said on Monday that reported profit before...
Wall Street angst is overdone but keep your ‘seat belt fastened’, a top market watcher says
It may get messy, but PNC Financial’s Jeffrey Mills believes the market is in a “pretty decent spot.” According to the firm’s co-chief investment strategist, Wall Street angst over geopolitical headwinds is essentially overdone, and strong earnings will ultimately dominate....
Tom Brady, Gary Cohn, and Marc Lasry have all bet on Will McDonough. He’s now betting on blockchain
The private table in the back of Nobu was a tabloid photographer’s dream. It was January 2005, and Tom Brady, Michael Jordan, Alex Rodriguez, Bill Clinton, Gary Cohn and Marc Lasry were among the group dining at the Japanese eatery...
One of market’s biggest bulls takes a ‘few chips off the table,’ sees impending sell-off
One of the market’s biggest bulls is on sell-off watch. Federated Investors’ portfolio manager Steve Chiavarone sees a 5 to 8 percent drop in stocks before summer ends. And, he thinks it may have already started. “We’ve taken a few...
Why a few economists think US job growth might not last without one key ingredient
Although payroll growth slowed in July, the unemployment rate decreased and overall job conditions appeared strong, the U.S. Labor Department reported on Friday. But according to Satyam Panday, a S&P global deputy U.S. economist, that continued job growth may not...
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...
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