Month: October 2017

Mounting credit concerns and lethargic profit margins will plague “weak” Citigroup earnings over the next two years, said one Wall Street research firm. Societe Generale reduced its rating on Citigroup shares to sell from hold Monday, citing deteriorating credit trends and increased loan loss provisions as detailed in the bank’s most recent earnings report. “Although
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Netflix should probably be worth way more than its market value, CNBC’s Jim Cramer said Monday. “When I look at Netflix and I look at their scalable model, obviously people continue to think, ‘How could this company only be valued at $80 billion if it’s going to be your worldwide cord cutting play?'” Cramer said
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Passengers on an Indonesia AirAsia flight from Australia to the holiday island of Bali described a panicked flight crew announcing an emergency and oxygen masks dropping from the ceiling after their airliner lost cabin air pressure and rapidly descended. Flight QZ535 returned safely on Sunday to the airport at Perth city where many of the
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JPMorgan Chase CEO Jamie Dimon might still think those buying bitcoin are “stupid,” but that didn’t stop the cryptocurrency from trading at records above $5,800 last week. Optimism around bitcoin drove its market capitalization above that of Goldman Sachs on Friday, with some market insiders forecasting that figure to reach at least $1 trillion in
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British police are investigating three new allegations of sexual assault against film producer Harvey Weinstein, all made by the same woman. London’s Metropolitan Police force said Sunday that the woman reported being assaulted in London in 2010, 2011 and 2015. The force said officers from its Child Abuse and Sexual Offenses Command are investigating. The
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Before you start spending, take stock of any obligations or costs around the inheritance, said Susan Bradley, a certified financial planner and the founder of the Sudden Money Institute in Palm Beach Gardens, Fla. “If it’s not liquid, readily available money, you’re going to have a to-do list,” she said. For example, should you inherit
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Win McNamee | Getty Images An employee walks outside the World Bank headquarters in Washington, United States. Experts say the roles of both institutions have shifted since their inception at Bretton Woods more than 70 years ago. “The IMF is heavily involved in fighting crises around the world,” Steil said. “Neither the British nor the
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CNBC’s Jim Cramer remembers the days when the market declined and traders would flock to safety in “recession-proof” stocks like General Mills and Kimberly-Clark. But times have changed. Now, the “Mad Money” host sees traders fleeing to the FANG stocks, Cramer’s acronym for Facebook, Amazon, Netflix and Google, now Alphabet when their favorite sectors go
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With the semiconductor space on fire, up 35 percent for 2017 according to the Philadelphia semiconductor index, CNBC’s Jim Cramer understands investors’ desire to own chip stocks. “At the moment, it feels like even a monkey with a dartboard could make a killing in the semis. That’s how strong they’ve been. But this is also
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As bitcoin soars to all-time highs, the pace of gains is rapidly picking up speed. For example, it took well over 1,000 days for each leg of bitcoin’s climb from a few cents to $1,000, and from $1,000 to $2,000. But since bitcoin topped $2,000 for the first time this May, the digital currency has
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Cryptocurrencies like bitcoin will become so valuable and widespread that all money transfers are going to be free, according to a top tech investor. Cathie Wood, the CEO of ARK Invest, said the internet doesn’t have a built in payments system because it wasn’t conceived as a place of commerce. Bitcoin and other cryptocurrencies are
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“Who cares about bitcoin? The world economy is so big,” Dimon said, noting the bank moves about $6 trillion in money around the world every day. In comparison, bitcoin only has a market capitalization of less than $100 billion. Twenty-four hour trading volume in bitcoin-U.S. dollars was $3.7 billion Friday, according to CoinMarketCap. “This is
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Italy began winding up two failed regional banks in June in a deal that committed up to 17 billion euros ($19 billion) of public money and put the lenders’ good assets in the hands of Intesa Sanpaolo. The government will pay 5.2 billion euros to Intesa, and give it guarantees of up to 12 billion
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On his last day as Fed vice chair, Stanley Fischer‘s sent some advice to President Donald Trump: Stay the course. In an interview at the World Bank/International Monetary Fund conference Friday, Fischer pushed the president to reappoint Janet Yellen as Fed chair. Though normally reluctant to wade into political waters, he made his preference known.
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