Markets
Buffett cuts stake in IBM and shares slide
- May 06, 2017
Buffett bought in at an average price of about $170 per share, and when the shares briefly traded above $180 earlier this year " we actually sold a reasonable amount of stock ", he said to CNBC . Berkshire's stock portfolio was valued at $135 billion at the end of March, with the largest allocation to financial companies. In November of the same year, Drukenmiller said he was shorting IBM shares because of the competitive threat of cloud computing to the company. (more...)
- May 06, 2017
Buffett bought in at an average price of about $170 per share, and when the shares briefly traded above $180 earlier this year " we actually sold a reasonable amount of stock ", he said to CNBC . Berkshire's stock portfolio was valued at $135 billion at the end of March, with the largest allocation to financial companies. In November of the same year, Drukenmiller said he was shorting IBM shares because of the competitive threat of cloud computing to the company. (more...)
Uber is under criminal investigation for building software to avoid regulators
- May 06, 2017
However Uber's lawyers stated in the letter to Portland authorities that Greyball was used "exceedingly sparingly" in the city before it was approved in 2015, notes Reuters. Uber's board has hired the law firm Shearman & Sterling LLP to carry out its own internal investigation of Greyball . The company went so far as to check credit card data against popular credit unions used by law enforcement and mining public social media data to determine the suspected person's employment. (more...)
- May 06, 2017
However Uber's lawyers stated in the letter to Portland authorities that Greyball was used "exceedingly sparingly" in the city before it was approved in 2015, notes Reuters. Uber's board has hired the law firm Shearman & Sterling LLP to carry out its own internal investigation of Greyball . The company went so far as to check credit card data against popular credit unions used by law enforcement and mining public social media data to determine the suspected person's employment. (more...)
Resource stocks drag Toronto markets lower, loonie weakens
- May 06, 2017
Crude is now back to levels last seen before OPEC and other producers said they would cut output by nearly 1.8 million barrels per day (bpd) during the first half of the year in a bid to tighten the market. The Kremlin said yesterday it had not yet decided whether Russian Federation would extend an agreement with Opec and non-Opec countries on oil output cuts into the second half of the year. (more...)
- May 06, 2017
Crude is now back to levels last seen before OPEC and other producers said they would cut output by nearly 1.8 million barrels per day (bpd) during the first half of the year in a bid to tighten the market. The Kremlin said yesterday it had not yet decided whether Russian Federation would extend an agreement with Opec and non-Opec countries on oil output cuts into the second half of the year. (more...)
GOP Dodd-Frank Replacement Bill Clears House Committee
- May 06, 2017
Jeb Hensarling (R-TX), the Choice Act begins by throwing out much of the banking oversight passed under President Obama's administration, mostly through the Dodd-Frank act signed in 2010. Relief for smaller banks and credit unions is one of the few areas of bipartisan agreement on the committee. Democratic lawmakers countered that "there are times you have to have discipline to protect people". (more...)
- May 06, 2017
Jeb Hensarling (R-TX), the Choice Act begins by throwing out much of the banking oversight passed under President Obama's administration, mostly through the Dodd-Frank act signed in 2010. Relief for smaller banks and credit unions is one of the few areas of bipartisan agreement on the committee. Democratic lawmakers countered that "there are times you have to have discipline to protect people". (more...)
Dow Turns Positive After Fed Keeps Interest Rates Unchanged
- May 06, 2017
The U.S. economy grew at a sluggish 0.7 percent in the first quarter - the lowest rate in the last three years. The Fed has signaled it plans to continue gradually raising interest rates that have been at ultralow levels for years, gently removing the stimulus that has helped fuel an extended stock rally. (more...)
- May 06, 2017
The U.S. economy grew at a sluggish 0.7 percent in the first quarter - the lowest rate in the last three years. The Fed has signaled it plans to continue gradually raising interest rates that have been at ultralow levels for years, gently removing the stimulus that has helped fuel an extended stock rally. (more...)
Apple reported a drop in sales of iPhone
- May 06, 2017
Finally, Tyers Asset Management LLC bought a new position in Apple during the fourth quarter valued at $139,240,000. Often, young, fast-growing companies prefer not to pay dividends, opting instead to re-invest their retained earnings into their business operations, compounding their growth and thus the book value of their shares over time. (more...)
- May 06, 2017
Finally, Tyers Asset Management LLC bought a new position in Apple during the fourth quarter valued at $139,240,000. Often, young, fast-growing companies prefer not to pay dividends, opting instead to re-invest their retained earnings into their business operations, compounding their growth and thus the book value of their shares over time. (more...)
White House: Trump's Trade Call With Trudeau 'Amicable.' Canada: Not So Much
- May 06, 2017
Department of Commerce's decision to impose an unfair and punitive duty". White House reported on Tuesday evening that the President Donald Trump and the Canadian Prime Minister Justin Trudeau had discussed the dairy trade as well as the lumber. (more...)
- May 06, 2017
Department of Commerce's decision to impose an unfair and punitive duty". White House reported on Tuesday evening that the President Donald Trump and the Canadian Prime Minister Justin Trudeau had discussed the dairy trade as well as the lumber. (more...)
Washington Capitals vs. Pittsburgh Penguins - 5/6/17 NHL Pick, Odds, and Prediction
- May 06, 2017
The NHL accepted Niskanen's account and didn't punish the defenceman further. That debate is not for this post. The Penguins aren't getting them, and they're still one win away from advancing to the Eastern Conference finals. Want your voice heard? She was joined by her teammate sophomore Kristen Yanchoris (Century) on the 13-member Patriot League All-Academic team. While the 34-year-old Parker is not the dynamic playmaker he was in his younger days, he is still hugely important to the ... (more...)
- May 06, 2017
The NHL accepted Niskanen's account and didn't punish the defenceman further. That debate is not for this post. The Penguins aren't getting them, and they're still one win away from advancing to the Eastern Conference finals. Want your voice heard? She was joined by her teammate sophomore Kristen Yanchoris (Century) on the 13-member Patriot League All-Academic team. While the 34-year-old Parker is not the dynamic playmaker he was in his younger days, he is still hugely important to the ... (more...)
Hollande Calls On French To Back Macron, Prevent Le Pen "Risk"
- May 06, 2017
Later at the site he said: "When Madame Le Pen says we'll exit globalisation, she's lying to you", he told the workers. "I am the candidate for the French presidency", she said. She said of the result: "Frightening, disappointing, I do not recognise the country I grew up in". She attempted to distance herself from her competitor, centrist Emmanuel Macron , by suggesting she has a stronger love for France. (more...)
- May 06, 2017
Later at the site he said: "When Madame Le Pen says we'll exit globalisation, she's lying to you", he told the workers. "I am the candidate for the French presidency", she said. She said of the result: "Frightening, disappointing, I do not recognise the country I grew up in". She attempted to distance herself from her competitor, centrist Emmanuel Macron , by suggesting she has a stronger love for France. (more...)
No charges over black man's police shooting in Louisiana
- May 06, 2017
Video shows an officer rushing Sterling and pulling him to the ground. Louisiana Attorney General Jeff Landry said Wednesday he's directed the U.S. Three women were arrested at a protest on a city highway late on Tuesday night, though a vigil at the scene where Sterling was killed was peaceful. (more...)
- May 06, 2017
Video shows an officer rushing Sterling and pulling him to the ground. Louisiana Attorney General Jeff Landry said Wednesday he's directed the U.S. Three women were arrested at a protest on a city highway late on Tuesday night, though a vigil at the scene where Sterling was killed was peaceful. (more...)
Buffett's Berkshire Hathaway Cuts Stake in IBM by Third
- May 06, 2017
During an interview on CNBC's Squawk Box on Thursday, Buffett explained that he cut his stake in IBM after "revising his view of the company's competitive prospects". for decades, he's not wedded to old favorites when circumstances change. In last year's first quarter, Berkshire recorded a one-time gain of nearly $2 billion from a deal that involved exchanging Procter & Gamble Co. (more...)
- May 06, 2017
During an interview on CNBC's Squawk Box on Thursday, Buffett explained that he cut his stake in IBM after "revising his view of the company's competitive prospects". for decades, he's not wedded to old favorites when circumstances change. In last year's first quarter, Berkshire recorded a one-time gain of nearly $2 billion from a deal that involved exchanging Procter & Gamble Co. (more...)
Greece says new bailout terms agreed with lenders
- May 06, 2017
The measures must be passed by the Greek parliament ahead of the euro area finance ministers meeting on May 22, when they may approve the disbursal of the emergency funds and agree to start talks on debt relief for the country. "The measures that appear to have been decided are painful for all Greeks, especially the weakest, violating every "red line" of the government ... (more...)
- May 06, 2017
The measures must be passed by the Greek parliament ahead of the euro area finance ministers meeting on May 22, when they may approve the disbursal of the emergency funds and agree to start talks on debt relief for the country. "The measures that appear to have been decided are painful for all Greeks, especially the weakest, violating every "red line" of the government ... (more...)
Some rivers receding, but Mississippi River remains high
- May 06, 2017
While the loss of Walmart accounts for a lot of the city's retail trade, Scott said Harps is still open. If the water is somewhat clear, and the plant receives enough oxygen and sunlight, it can live for an expanded time under the water. In the recent past, we have seen these events happen in Louisiana and California, as well as the flooding going on in Canada this week. Gov. Asa Hutchinson said Thursday that state officials are "waiting on pins and needles" to see how a breached levee on an ... (more...)
- May 06, 2017
While the loss of Walmart accounts for a lot of the city's retail trade, Scott said Harps is still open. If the water is somewhat clear, and the plant receives enough oxygen and sunlight, it can live for an expanded time under the water. In the recent past, we have seen these events happen in Louisiana and California, as well as the flooding going on in Canada this week. Gov. Asa Hutchinson said Thursday that state officials are "waiting on pins and needles" to see how a breached levee on an ... (more...)
SpaceX delays Sunday defense launch 24 hours over sensor concerns
- May 06, 2017
SpaceX CEO Elon Musk said on Twitter that the mission launched successfully after almost being scrubbed by strong high-altitude winds . It was SpaceX's first mission for the National Reconnaissance Office . According to a tweet by SpaceX founder Elon Musk , the second launch almost didn't happen due to the wind. For the past ten years the U.S. military have carried out space launches with United Launch Alliance which is a partnership of Lockheed Martin and Boeing, a monopoly ... (more...)
- May 06, 2017
SpaceX CEO Elon Musk said on Twitter that the mission launched successfully after almost being scrubbed by strong high-altitude winds . It was SpaceX's first mission for the National Reconnaissance Office . According to a tweet by SpaceX founder Elon Musk , the second launch almost didn't happen due to the wind. For the past ten years the U.S. military have carried out space launches with United Launch Alliance which is a partnership of Lockheed Martin and Boeing, a monopoly ... (more...)
Lance Joins Democrats in House to Reject GOP Repeal of Obamacare
- May 06, 2017
Upton, who's late switch from an opponent to a supporter may have made the difference, claims he is satisfied that the negative effects of changes that effect citizens with pre-existing conditions have been mitigated by an amendment that will pump $8-billion into insurance pools in states that opt out of that requirement. (more...)
- May 06, 2017
Upton, who's late switch from an opponent to a supporter may have made the difference, claims he is satisfied that the negative effects of changes that effect citizens with pre-existing conditions have been mitigated by an amendment that will pump $8-billion into insurance pools in states that opt out of that requirement. (more...)
China Launches first Domestic Jetliner
- May 06, 2017
With the flight, China joins the ranks of the few nations that have developed homegrown large airliners: the U.S., Russia, Brazil, Canada, the U.K., France and Germany. Comac will also need to win the trust of airlines in China and elsewhere by proving the jet can operate efficiently and reliably on scheduled flights. (more...)
- May 06, 2017
With the flight, China joins the ranks of the few nations that have developed homegrown large airliners: the U.S., Russia, Brazil, Canada, the U.K., France and Germany. Comac will also need to win the trust of airlines in China and elsewhere by proving the jet can operate efficiently and reliably on scheduled flights. (more...)
Now, Trump flips on NAFTA
- May 06, 2017
But, he added , "If I'm unable to make a fair deal. for our workers and our companies, we will terminate NAFTA ". On Thursday, Trump insisted he wasn't bluffing about threatening to pull out of NAFTA, but said he had a change of heart during phone calls with Prime Minister Justin Trudeau and Mexican President Enrique Pena Nieto. (more...)
- May 06, 2017
But, he added , "If I'm unable to make a fair deal. for our workers and our companies, we will terminate NAFTA ". On Thursday, Trump insisted he wasn't bluffing about threatening to pull out of NAFTA, but said he had a change of heart during phone calls with Prime Minister Justin Trudeau and Mexican President Enrique Pena Nieto. (more...)
Joshua v Klitschko: The fight in pictures
- May 06, 2017
As I said, I'm not ideal but I'm trying and if you don't take part you're going to fail. A crowd of 90,000 is packed into Wembley Stadium for the bout. He remains a two-time former champion, the division's dominant force for much of the past decade who was dethroned by Fury in November 2015. The back-and-forth bout saw Joshua knockdown Klitschko in the fifth round, only to suffer the first knockdown of his career in the sixth frame. (more...)
- May 06, 2017
As I said, I'm not ideal but I'm trying and if you don't take part you're going to fail. A crowd of 90,000 is packed into Wembley Stadium for the bout. He remains a two-time former champion, the division's dominant force for much of the past decade who was dethroned by Fury in November 2015. The back-and-forth bout saw Joshua knockdown Klitschko in the fifth round, only to suffer the first knockdown of his career in the sixth frame. (more...)
Tillerson seeks action on NKorea as he meets SE Asia bloc
- May 06, 2017
The United States has conducted freedom of navigation operations to challenge South China Sea claims, greatly angering China, but has yet do so under Trump. This coincided with moves by China and ASEAN to draft a framework to negotiate a code of conduct. On the issue of the South China Sea, ASEAN has adopted a cautious approach recently, with a weekend summit avoiding references to China's building and arming of artificial islands there. (more...)
- May 06, 2017
The United States has conducted freedom of navigation operations to challenge South China Sea claims, greatly angering China, but has yet do so under Trump. This coincided with moves by China and ASEAN to draft a framework to negotiate a code of conduct. On the issue of the South China Sea, ASEAN has adopted a cautious approach recently, with a weekend summit avoiding references to China's building and arming of artificial islands there. (more...)
Trump to announce 'massive' tax cut for Americans this week
- May 06, 2017
He has at times expressed support for a plan drawn up by House of Representatives Republicans, but his views are unclear on a section that deals with taxing imports. "We'll be having a big announcement on Wednesday having to do with tax reform", he told reporters at the signing ceremony. The blueprint calls for lowering the 35 percent corporate tax rate to 20 percent and the 39.6 percent individual rate to 33 percent. (more...)
- May 06, 2017
He has at times expressed support for a plan drawn up by House of Representatives Republicans, but his views are unclear on a section that deals with taxing imports. "We'll be having a big announcement on Wednesday having to do with tax reform", he told reporters at the signing ceremony. The blueprint calls for lowering the 35 percent corporate tax rate to 20 percent and the 39.6 percent individual rate to 33 percent. (more...)
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