Markets


Malia Obama to enter Harvard in 2017 after taking gap year
- May 04, 2016

The study's authors acknowledge that students that delay entry are not homogeneous (they could be taking a single gap year or going to school more than a decade later to pursue mid-life career changes), but they do note delayed entrants who are racial minorities, come from lower-socioeconomic backgrounds, and have parents who are not college-educated, are at a sizable disadvantage compared to peers who enter college right away. (more...)
Uber faces more lawsuits for classifying drivers as contractors
- May 03, 2016

Less than two weeks after Uber Technologies agreed to pay up to $100 million to settle class-action lawsuits in California and MA in which drivers sought to be reclassified as employees instead of independent contractors, the ride-hailing company has been slapped with two new cases. (more...)
Mitsubishi's fuel test scandal draws attention of USA regulators
- May 02, 2016

President Tetsuro Aikawa said that the probe into the irregularities was ongoing, which suggests that more may be found.The fuel test scandal has now erased half of the company's market value, and its shares are sitting at a record low. Mitsubishi originally said the affected models were limited to the Mitsubishi ek Wagon and ek Space, and the Nissan Dayz and Dayz Roox. The NHTSA has also asked Mitsubishi to provide them with more recent and concrete information. (more...)
Saudi Arabia to reduce dependence on oil by 2020
- May 02, 2016

Salman bin Abdulaziz, the Saudi King, has announced cabinet backing for the Saudi Vision 2030 plan while addressing the nation over television on Monday. These will in part contribute to scaling up the country's sovereign wealth fund to around $2tn, which the prince said would become a vehicle for Saudi investments overseas. (more...)
Facebook profits surge on strong mobile ad growth
- May 02, 2016

Daily active users were also over a billion, at 1.09 billion versus 936 million a year ago. On Wednesday, Facebook proposed a new class of stock known as C shares with the intent of allowing Zuckerberg to maintain control of the Silicon Valley Company. (more...)
SunTrust Increases Facebook Inc (FB) Price Target to $135.00 SunTrust Increases Facebook Inc (FB) Price Target to $135.00
- May 01, 2016

Breaking down the numbers, it's clear that Facebook had advertising to thank for this quarter's glowing highlights - advertising revenue was up 57-percent year-on-year, hitting $5.2 billion in comparison to 2015's $3.3 billion. Earnings season has not been kind to the tech industry - Google, Microsoft, Apple and Twitter are among those whose first-quarter results disappointed investors. (more...)
Bezos Touts Amazon Tech Amid Q1 Coup
- May 01, 2016

Adding to this, the profits announced by Amazon for the quarter came in at $513 million, which marks their highest-ever profits per quarter and is a stark contrast to the $57 million loss reported for the same period past year. Previously in its fourth quarter AWS generated revenues of $2.4 billion (£1.7bn), showing that AWS remains on a healthy growth path. Worldwide sales increased from $7.7 billion to $9.6 billion, while Amazon Web Services sales jumped from $1.6 billion to $2.6 billion. (more...)
Twitter plummets on revenue, outlook miss
- May 01, 2016

Twitter headquarters. Image source: Twitter . "The concern that dismal user growth would eventually affect revenue growth is starting to show up in Twitter's results", said Bloomberg Intelligence senior analyst Jitendra Waral. Substantially lower than expectations and not much more than what had been expected to be announced today for Q1. For the upcoming quarter, Twitter is projecting revenue of between $590 million and $610 million, with adjusted EBITDA in the range of $145 ... (more...)
Amazon Video Service Targets Netflix Users
- May 01, 2016

Video was previously only available as part of its $99-a-year free-shipping service, Amazon Prime . Amazon first experimented with the new subscription model last month in partnership with Sprint , as pointed out by CNN . All three services have their own original programming and exclusives, including a lot of the same shows on network TV. Amazon is taking its streaming game to the next level by trying to attract a couple different groups of subscribers with new packages. (more...)
Abbott Laboratories acquires St. Jude Medical for $25 billion
- May 01, 2016

Paul, Minn. -based St. Jude Medical ( STJ ) for about $25 billion. Abbott expects the combined company to compete in almost every area of cardiovascular care. Be proactive - Use the "Flag as Inappropriate" link at the upper right corner of each comment to let us know of abusive posts. Reference: White is an employee of Abbott . (more...)
Woman gets 100 years for cutting baby from womb
- April 30, 2016

Prosecutors say Lane was obsessed with having a baby. The baby, who Wilkins planned on naming Aurora, did not survive, and Wilkins almost died from blood loss. Lane lured Wilkins to her home with a Craigslist ad promising free maternity clothes. Aurora did not survive the attack. Lane said nothing to Ridley about Wilkins, who was unconscious at her home. (more...)
Mass. dedicates $2 million to testing lead in public school water fountains Mass. dedicates $2 million to testing lead in public school water fountains
- April 30, 2016

Water fountains in Boston schools are being shut down because of high levels of lead. If lead is found, the department will work with those schools to figure out how to address the problems, such as by removing a water fountain or replacing pipes. (more...)
Facebook profits triple in 2016 first quarter Facebook profits triple in 2016 first quarter
- April 30, 2016

In December 2015 the Facebook founder said he will give 99 per cent of his Facebook shares , at the time worth around £30 billion, to "good companies" as part of the Zuckerberg Chan Initiative. Shareholders are scheduled to vote on the proposal at the company's annual meeting on June 20. The company said it is aiming to provide great valuable experiences for users and added value for businesses. (more...)
Facebook Inc Considering New Stock Class To Cement Zuck's Control Facebook Inc Considering New Stock Class To Cement Zuck's Control
- April 30, 2016

Not only that, people are also using Facebook more, with the company reporting that 66 percent of monthly active users (MAU) logged on to the platform daily, an increase of 1 percent from the same period a year ago. The social media company said the initiative was "not a traditional governance model", but it qualified its statement by saying " Facebook was not built to be a traditional company". (more...)
Ted Cruz to make 'major announcement' at 4 p.m. Ted Cruz to make 'major announcement' at 4 p.m.
- April 30, 2016

Still, Sanders and Republicans Ted Cruz and John Kasich, vowed to keep running, even as opportunities to topple the leaders dwindle. Mr. Trump now has 994 delegates, Mr. "Not because she's a woman, but Carly did not resonate at all with people", Trump said on ABC's Good Morning America, referring to Fiorina's less-than-successful presidential campaign earlier this year. (more...)
Lower fuel costs helps Air Canada post a quarterly profit
- April 30, 2016

However, Delta's incoming Chief Executive Ed Bastian said earlier Friday that the airline is not in the market for a Boeing order for the time being, after placing the CS100 order and announcing Friday it would buy 37 more Airbus A321s. The Delta announcement came as Bombardier reported its quarterly results, which were mixed but by no means dire. The company, which also manufactures business jets and rail transportation equipment, struck a $1 billion deal with the province of Quebec last ... (more...)
Facebook plans new non-voting shares to keep Zuckerberg at helm Facebook plans new non-voting shares to keep Zuckerberg at helm
- April 30, 2016

Facebook said it had an average of 1.09 billion daily active users for March 2016, an increase of 16% year-over-year, while the number of monthly active users as of March 31 was 1.65 billion, up 15% year-over-year. " Facebook just keeps getting stronger and stronger every quarter". And each user earned the company more money, an average of $3.32 against $2.50 previous year. (more...)
Facebook hit with lawsuit over plan to issue new stock
- April 30, 2016

All told , Facebook now boasts more than 3 million active advertisers, and more than 200,000 on Instagram . Facebook's daily active users to monthly active users ratio grew from 65 percent to 66 percent last quarter, which means even more of its monthly users visit the platform every day than before. (more...)
Volkswagen CEO lays out plan to focus on low emissions cars Volkswagen CEO lays out plan to focus on low emissions cars
- April 30, 2016

Mueller went on a mini-apology tour during the annual conference, telling attendees at the Wolfsburg , Germany meeting that "we disappointed many people who trusted Volkswagen ". After trying to stall United States regulators for more than a year by saying things like the EPA's equipment must be out of whack, company reps didn't admit the subterfuge until the EPA refused to certify any 2016 cars. (more...)
First time ever, Apple iPhone registers decline in sales First time ever, Apple iPhone registers decline in sales
- April 30, 2016

Apple's CEO Tim Cook said that sales in the greater China region were strongly affected by the Hong Kong dollar being pegged to the strong United States dollar, according to CNBC . As for sales, Apple revealed that during the period, they had sold 51.1 million iPhones, 10.2 million iPads, and 4 million Macs. On the other hand services like Apple Watch , Apple TV, iPod and Beats faired really well as they grew by 30 pc to $2.19 billion from $1.69 billion and the Apple CFO Luca ... (more...)

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