Markets


Trump says actively considering breaking up big banks Trump says actively considering breaking up big banks
- May 03, 2017

After the law was rescinded by Congress and former President Bill Clinton, the two banking systems were able to consolidate in Wall Street. Many argue that the weakening of Glass-Steagall was a major contributor to the financial crisis in 2008, though this claim is disputed. (more...)
SpaceX Launches US Military Spy Satellite
- May 03, 2017

The spy satellite will be used by the US National Reconnaissance Office , an agency within the Defense Department that operates the nation's spy satellites. It was the company's fourth zone landing and the 10th overall successful landing of the first stage booster. The rocket, which took off at 7:15 s.m. (more...)
Trump Said to Target Carried Interest and Corporate Tax Breaks
- May 03, 2017

These are the people who have been left behind by an increasingly globalized economy. That's a departure from what Gary Cohn , Trump's economic adviser, said on Wednesday. Based on overall profits, roughly 85 percent of the net income reported by the group was taxed at less than the 35 percent rate. In 2017, up to $5.49 million of an estate is already exempt from federal taxation. (more...)
Greece reaches new debt relief deal with creditors
- May 03, 2017

The deal includes a promise by Greece to cut pensions and increase taxes, in exchange for permission to give rent subsidies and increase child support, a Greek government source told the Bloomberg news agency. Athens also agreed to sell coal-fired plants and coal mines equal to about 40 per cent of its dominant power utility Public Power Corp's capacity. "Enough is enough, life with dignity", chanted protesters who marched to the Greek parliament in Athens. (more...)
M&S poaches Halfords boss Jill McDonald to run struggling clothing business M&S poaches Halfords boss Jill McDonald to run struggling clothing business
- May 03, 2017

Rowe, CEO for just over a year, has recently seen some success after instigating the latest in a long line of recovery strategies for M&S's underperforming clothing and homewares business. At the end of a year ago, like-for-like sales in its clothing and home division rose, but M&S said more work was needed. McDonald said: "M&S has a unique, special relationship with its customers and I am very motivated by working closely with customers to drive and shape results". (more...)
Apple, tech lift Wall Street as Nasdaq sets record
- May 03, 2017

The Nasdaq rose 32.74 points or 0.5% to 6,080. The S&P 500 technology index .SPLRCT was up 0.6 percent - one of only four among the 11 major S&P 500 sectors to post gains. The personal consumption expenditures index-the Federal Reserve's preferred gauge of inflation-fell 0.2 per cent in March, the first drop in more than a year. (more...)
U.S. growth rate hits three-year low at 0.7%
- May 03, 2017

Production expanded by 0.3% over the period, with manufacturing increasing by 0.5% thanks to a jump in motor vehicle manufacturing, while agriculture growth eased to 0.3% in the first quarter from 1% in the final quarter of 2016. economy turned in the weakest performance in three years in the January-March quarter as consumers sharply slowed their spending. That would be the slowest pace in almost four years and follows the fourth quarter's robust 3.5 percent growth rate. (more...)
Southwest Airlines to end overbooking policy
- May 03, 2017

City officials have made it clear that they expected the city would be sued because Chicago aviation security officers pulled Dao off the flight at Chicago's O'Hare Airport on April 9. Dead Giant Rabbit On United Flight Creates New Problem For Airline: The animal died while traveling in the cargo hold of a flight headed from London to Chicago . (more...)
Oil dips as U.S., Libya output gains outweigh OPEC, Russia cuts
- May 03, 2017

Saudi Arabia has told OPEC officials that it wants to extend the cartel's agreement to cut crude-oil production for another six months when the group meets on May 25 in Vienna . EDT. "Iran signaled its readiness to cap its oil output until the end of the year. backing Saudi Arabia's push to raise prices". The better question, though-the one really worth discussing-is this: how long will it take before this market intervention is finally able to eat away at the global glut of oil that ... (more...)
Shopify Inc (US) (SHOP) Receiving Somewhat Positive News Coverage, Analysis Shows Shopify Inc (US) (SHOP) Receiving Somewhat Positive News Coverage, Analysis Shows
- May 03, 2017

Shopify Inc has a one year low of $24.96 and a one year high of $84.58. The stock has a market cap of $1.55 billion, a PE ratio of 53.22 and a beta of 1.57. If you are accessing this news story on another domain, it was stolen and reposted in violation of US and worldwide copyright and trademark law. Shopify's monthly recurring revenue was $20.7 million, up 62 percent compared to $12.8 million during the same time a year ago. (more...)
Palace dismisses criticism on Trump invitation to Duterte
- May 03, 2017

A spokesman for the Philippine president said the discussion "was warm, with President Trump expressing his understanding and appreciation of the challenges facing the Philippine President, especially on the matter of unsafe drugs". Manila is about 1,800 miles from North Korea and its navy doesn't have a strong defense force, leaving some to question how it would fit into a regional strategy for the U.S. (more...)
Oil rebounds on US stocks drawdown, declining OPEC compliance weighs
- May 03, 2017

Prices rose earlier after data showed Russia's oil production continued to decline in April as the country implements curbs agreed to with OPEC. From February 11, 2016, to May 1, 2017, U.S. Brent for July settlement slipped 12 cents to $51.40/bbl on the London-based ICE Futures Europe exchange. OPEC will meet again May 25 in Vienna to decide whether to extend the cuts through the second half of the year. (more...)
Trump's top deputies defend budget deal
- May 03, 2017

While he previously described the compromise reached by omitting to fund a wall on the US-Mexico border in return for Democrats accepting a lack of funding for Obamacare subsidies as "appropriate", Mulvaney told reporters today the deal represented a major victory because it was the largest-ever overall increase in border-security funding. (more...)
Wall St. flat as Fed meet kicks off; Nasdaq hits record Wall St. flat as Fed meet kicks off; Nasdaq hits record
- May 03, 2017

Wall Street was set for a mixed open Tuesday, a day after Nasdaq closed at a fresh record, as investors braced for earnings releases from Apple Inc. and other high-profile companies. Investors were bracing for more data later in the week, including Friday's employment report, as well as for the two-day U.S. Federal Reserve meeting starting on Tuesday. (more...)
The Eagles are Suing Hotel California The Eagles are Suing Hotel California
- May 03, 2017

The Eagles have also sold merchandise bearing the " Hotel California " name for decades, though an application to register the trademark for merchandise is still pending. They're also seeking all related profits, plus damages and relief. Hotel California appeared on the 1976 album of the same name and took home a Grammy for album of the year. (more...)
Joshua stops Klitschko in epic heavyweight title fight
- May 03, 2017

Young gun Anthony Joshua got up off the canvas to stop former champion Wladimir Klitschko Saturday in the 11th round of a heavyweight world title fight that is being hailed as an epic. Klitschko is 41 and has now lost his last two fights, albeit over a space of 16 months. The win sees Joshua maintain his unbeaten record in 19 fights, with all 19 wins ending in knock-outs! I feel like it could've been his fight but I guess the better man won on the day. (more...)
Melania Trump's Twitter account 'likes' tweet showing her smile vanish at inauguration Melania Trump's Twitter account 'likes' tweet showing her smile vanish at inauguration
- May 03, 2017

But the Twittersphere lit up this evening with screenshots of a tweet that was liked from her personal account, which suggests that the rumors of her dislike for her husband could be very true. If you go to the "likes" tab of her Twitter profile, the tweet is only one of two tweets that she has liked. Some on the left even pointed to this as actual evidence that Melania Trump holds contempt for the president, something that has been theorized by outlets such as Jezebel but which there is ... (more...)
International Monetary Fund says Greek debt relief still needed after bailout deal International Monetary Fund says Greek debt relief still needed after bailout deal
- May 03, 2017

Greece Finance Minister Euclid Tsakalotos said he hoped to see a final deal in time for the 22 May meeting of eurozone finance ministers, which must approve the agreement. If Athens outperforms its targets it will be allowed to activate a set of measures offsetting the impact of the additional austerity, which includes mainly lowering taxes. (more...)
White House officials offer conflicting details of Trump tax plan
- May 03, 2017

A key item to look for in Trump's plan is how he plans to implement the "massive border tax" that he has called for throughout the campaign. At the same time, Treasury Secretary Steven Mnuchin said the plan would be a long-term overhaul of the tax code that would add to the debt in the short term, according to The Washington Post . (more...)
China's factory output slows to 7-month low
- May 03, 2017

It registered a six-year high of 57.9, up from March's 57.5. The euro was little changed against the USA dollar immediately following the release , changing hands at 1.0908 by 09:05 BST. As a result, producers implemented another round of increase in factory prices to cover cost inflation. Beijing has said it wants to reorient the economy away from relying on debt-fuelled investment and towards a consumer-driven model, but the transition has proven challenging, leading to slower growth ... (more...)