Markets


JPMorgan profit falls 8 pct as investment banking struggles JPMorgan profit falls 8 pct as investment banking struggles
- April 14, 2016

Last quarter , the company reported net income of $5.4 billion, up over 10% YoY but down more than 20% sequentially. Trading revenue came in at $5.17 billion, down 11% year-on-year. Goldman Sachs won 3.6 per cent and Citigroup 5.6 per cent. JPMorgan's shares were up about 4.2 percent at $61.75 at midday. Nevertheless, it was down more than 13% from the same period one year ago. (more...)
GoPro names top Apple designer Daniel Coster as VP of design
- April 14, 2016

Coster however, will surely make his work speak for it self as it has previously done over his career alongside Apple, which dates back as far as the 90s. At Apple , Coster was credited in patents for the iPhone 4 and the iPad's wireless keyboard, Fortune points out . "I'm honored to join the GoPro team", Coster said in a statement . (more...)
Q1 2016 Operating Profit Beats Estimates By 10% — Samsung
- April 14, 2016

Samsung has brought back the microSD card slot and waterproofing capabilities. The newer devices incorporate parts and features traditionally found only in high-end phones, such as metal frames and organic light-emitting diode (OLED) screens. (more...)
USDA WASDE April report pegs corn use for ethanol higher USDA WASDE April report pegs corn use for ethanol higher
- April 14, 2016

The new soybean contract climbed steadily higher reaching $9.36 on April 4 - an increase of 68 cents in one month. "These reports together suggest that the market prices of corn and soybeans will now adjust to give producers reduced financial incentives to plant corn and increased price incentives to plant more soybeans , spring wheat and other spring-planted crops", he said. (more...)
Texas attorney general charged with federal securities fraud
- April 14, 2016

Shipchandler, the director of the SEC's Fort Worth office. According to the complaint , Paxton never disclosed his commissions to prospective investors while recruiting them. But the company's lawyer could not immediately be reached for any comment regarding the company's current situation. In 2014, Texas securities regulators also fined Paxton $1,000 for not properly registering as an investment adviser. (more...)
Will Tesla (TSLA) Stock Rise on Model 3 Orders?
- April 13, 2016

Inside, it's got room for five adults and a tablet-style infotainment screen, plus a large glass roof and technology which includes the semi-autonomous autopilot feature introduced on the Model S. The reservations, which can be made by paying a refundable deposit of $1,000, correspond to about $14bn (€12.3bn) in implied future sales, the company said. (more...)
United Kingdom inflation rate rises to 0.5% in March
- April 12, 2016

While the latest reading of the official producer price index indicates chronic overcapacity remains a serious issue for China's industrial sector, it also reflects continued improvement since January, when a five-month streak at -5.9 per cent finally snapped. (more...)
Liberty's Sanjeev Gupta says Tata's UK Steel assets can be saved
- April 12, 2016

Community leaders have urged Sajid Javid, who has faced increasing criticism over his handling of the crisis gripping the steel industry, to come to Shotton to explain how he will help the region. He said "the important thing is where the buyers are coming forward we are ready to work with them". The unions said the government's decision was "a small step in the right direction" but the measure should have been in place already. (more...)
Tesla Model 3 preorders exceed 325000 within the first week
- April 12, 2016

While people can quite easily opt out of their reservations, many are determined to get a Model 3. As the 3 lakh odd customers wait eagerly for their sedan's to arrive, popular rendering artist Theophilus Chin has come up with interesting set renderings of the Tesla Model 3 hatchback. (more...)
Tesla Model 3 Spotted Driving Around In Public
- April 12, 2016

The company has raked in $375 million on just Model 3 deposits alone. "We expect the final Model 3 reservation disclosure on Wednesday, per management; however, we continue to view fundamental upside scenarios in the name as more limited given the recent stock appreciation". (more...)
Orders for Tesla Model 3 Reach 276000
- April 12, 2016

Tesla's new electric auto "Model 3" is breaking sales records. That electric car's $35,000 price tag adheres to Chief Executive Officer Elon Musk's strategy of introducing a more affordable, high-volume vehicle only after he had succeeded with more expensive models. (more...)
Jury selection begins in hot SUV death case Jury selection begins in hot SUV death case
- April 12, 2016

Jury selection begins on Monday, and an unusually large pool of more than 500 potential jurors has been called to give lawyers more options. Authorities said Harris, who owed $4,000 in credit card debt, had asked relatives how to cash in two life insurance policies - one for $2,000, the other for $25,000 - that he and his wife had taken out on Cooper. (more...)
US, Goldman Sachs, reach $5B settlement over risky mortgages
- April 12, 2016

On April 11, 2006, while Goldman was preparing one of the GSAA offerings backed by loans from the March 30 Countrywide pools for securitization, a Goldman mortgage department manager circulated to a large group of Goldman employees a "very bullish" equity research report regarding Countrywide's common stock, which recommended the purchase of Countrywide shares and highlighted that Countrywide's March 2006 loan origination volume had exceeded expectations. (more...)
Tesla misses delivery target, citing company 'hubris'
- April 12, 2016

Tesla has undertaken a costly expansion of the Fremont plant, aiming to boost annual capacity to 500,000 by 2020, with production of the Model 3, the company's first mass-market auto, ramping up slowly through 2019. Tesla delayed production of both its two previous niche Model S and Model X several times . The Monday statement sounded the same note, while promising such hiccups will not happen with the Model 3 . (more...)
TransCanada maintains Keystone crude pipeline at reduced rates TransCanada maintains Keystone crude pipeline at reduced rates
- April 11, 2016

The re-start comes after around-the-clock operations and excavation identified a small leak approximately four miles (six kilometres) from the Freeman pump station in Hutchinson County, South Dakota. It's part of a pipeline system that also would have included the Keystone XL pipeline had President Barack Obama not rejected that project last November. (more...)
Samsung Electronics profit beats expectations on robust sales of S7 smartphone
- April 11, 2016

The outlook will raise hopes the South Korean firm's struggling mobile business is on track to post its first annual profit gain in three years after a healthy start for new premium products and improved mid-to-low tier devices. Samsung's Galaxy S6 may have been a critical and commercial disappointment, but the Galaxy S7 doesn't appear to be following in its footsteps. He noted that despite the upcoming release of the Galaxy Note 6, the Samsung Galaxy S7 will still remain to be the "world's ... (more...)
Tesla Model 3 bookings cross 3.25 lakh mark within just one week
- April 11, 2016

The company has written on its official blog website this Thursday that they "haven't advertised or paid for any endorsements" and that they are quite pleased about the interest that the customers have shown so far. First started in 2003, Tesla built just 50 000 cars in 2015, but has set a target of 500 000 a year by 2020. It's unclear what sorts of other changes will be made, but the auto will apparently carry a higher price tag than the current Model S, which suggests there might be some ... (more...)
And Counting: Tesla Keeps Racking Up Orders For Model 3
- April 11, 2016

The flood of pre-orders also led Musk to tweet that Tesla would need to "rethink production planning". On the design front, the Model 3 fits into the Tesla family with sleek lines and boasts a roof area with a continuous pane of glass, giving the five adults it can seat extra headroom and the feeling of having more space, Musk said. (more...)
China to drag down growth in developing Asia China to drag down growth in developing Asia
- April 11, 2016

There are also emerging challenges, it said, and these include the ability to sustain the country's inclusive growth pattern. The growth will be led by the large Southeast Asian economies, though the outlook for individual countries varies, depending on their trade and financial relationships with developed economies and China, as well as their dependence on commodity exports. (more...)
Papers leak: law firm office raided in El Salvador
- April 11, 2016

It cited an employee saying the company was moving. Attorney General Douglas Melendez personally oversaw the raid, his office said. Ramon Fonseca, the co-founder of Panamanian law firm Mossack Fonseca at the center of a controversial data leak, told a German newspaper his company has yet to be approached by investigators. (more...)