Markets


Ask Matt: Is Berkshire about to take off?
- May 18, 2016

Berkshire Hathaway's purchase of Apple stock makes me wonder just what motivated Warren Buffett to do it. What does he know about Apple as a company that others might be missing? The revelation marks a fearless new world for Buffett, who has not traditionally invested in tech companies and has always vowed not to invest in companies he does not understand. (more...)
New Bank Cyber Heist After Bangladesh Attack
- May 18, 2016

The Belgium-based worldwide money transfer supervisor said attackers had used malware to target a PDF reader at a bank, allowing them to transfer money and tamper with bank documents. It said it has since stopped using the outside vendor on SWIFT's advice. Investigators of the Bangladesh Bank attack found that cheap routers may have helped the hackers get into their network and access the SWIFT machines. (more...)
Japan's economy grows at 1.7 percent annual pace in Jan-Mar Japan's economy grows at 1.7 percent annual pace in Jan-Mar
- May 18, 2016

Treasury report including it in a new currency watch list did not constrain its currency policy. The yen has strengthened 10 per cent against the dollar this year while the Topix stock index has declined nearly 14 per cent. Private consumption, which accounts for Japan's largest share of growth, rose by an anemic 0.5 percent, while public demand expanded by 2.6 percent. (more...)
Don't blink, or your PC might upgrade itself to Windows 10 Don't blink, or your PC might upgrade itself to Windows 10
- May 18, 2016

When Microsoft introduced Windows 10, a new feature known as Windows Hello was also unveiled. The company has plan to reveal this feature as Windows 10's anniversary update in this coming summer. If you are a Windows 10 phone user, there is something to rejoice as the long awaited and sorely missed fingerprint scanner feature is finally making its way to the Microsoft's Smartphone. (more...)
Apple stock surges after Warren Buffett's hefty investment
- May 18, 2016

While there is belief among investors that the high growth rates of Apple are over and that the company could deserve a lower valuation, Apple's strong management and balance sheet brought forward the Berkshire purchase. Shortly after the purchase, the California tech giant's stock experienced a 2 percent surge during premarket trades. Apple shares had lost about one-fifth of their value in the past month on worries about the company's slowing sales growth. (more...)
Buffett stake confirmation puts floor under falling Apple
- May 18, 2016

Sure enough, during its second-quarter, that ended March 26, Apple reported its first-ever drop in iPhone shipments and first overall year-over-year revenue decline in 13 years. Berkshire slightly increased that stake again in the first quarter of 2016. Berkshire's investment in Apple follows the exit of another well-known investor, Carl Icahn, who said last month he had sold his big stake, according to WSJ . (more...)
Home Depot Reported Q1 Earnings
- May 18, 2016

But the housing market has remained one of the brightest spots in the US economy, which may help explain why consumers continue to invest in their homes. The world's biggest home improvement chain has benefited as consumers cut back spending on items such as apparel and accessories and instead spend more on big-ticket purchases such as houses and home renovations. (more...)
SpaceX Lands Falcon 9 Rocket At Sea Successfully For Second Time SpaceX Lands Falcon 9 Rocket At Sea Successfully For Second Time
- May 18, 2016

The JCSAT-14 was created to send telecommunications signals across the Asia-Pacific region. The rocket's upper stage was scheduled to deploy the satellite owned by Tokyo-based SKY Perfect JSAT was about 32 minutes after liftoff. "May need to increase size of rocket storage hangar". The launch is the Falcon 9's 24th mission overall and the fifth time it was able to log flawless flight in under five months. (more...)
Takata recall expected to climb, announcement expected this week Takata recall expected to climb, announcement expected this week
- May 17, 2016

The Takata situation has been "disruptive to the business" of selling vehicles, he added, considering AutoNation's policy of not selling any vehicles with open recalls on them. Takata hasn't said how much the expanded recall is likely to cost the company. Takata strongly urges all consumers to check NHTSA'S safercar.gov website regularly and contact their dealers immediately if their vehicle is subject to a recall. (more...)
Oil prices hit highest level in 7 months
- May 17, 2016

Global oil prices plunged from $115 to less than $30 per barrel between June 2014 and January 2016, hitting their lowest levels since 2003 amid the ongoing glut in global oil supply and causing significant problems for energy companies and oil-producing countries. (more...)
Eyeing the big leagues: Tesla racing toward annual volume of 500000 cars
- May 17, 2016

Tesla Motors CEO Elon Musk said the company is aiming to produce 500,000 electric cars by 2018, two years earlier than previously targeted. Extremely strong demand for Tesla's Model 3 - a $35,000 sedan unveiled in March and meant to be Tesla's first mainstream vehicle that has booked more than 400,000 pre-orders - is partly behind the production ramp up. (more...)
University of North Carolina: We Cannot Operate Without Federal Funds
- May 17, 2016

Attorney General Loretta Lynch announced her department will launch a major enforcement action against North Carolina , accusing it of state-sponsored discrimination. "But no matter how isolated, how afraid, and how alone you may feel today, know this: that the Department of Justice, and indeed, the entire Obama administration, want you to know that we see you, we stand with you, and we will do everything we can to protect you going forward". (more...)
BET CEO Debra Lee Joins Twitter Board BET CEO Debra Lee Joins Twitter Board
- May 17, 2016

Twitter , Inc. announced today that the Board of Directors has appointed Debra L. Lee, Chairman and Chief Executive Officer of BET Networks, to serve as a Board member, effective immediately. Twitter has said that its goal is to increase underrepresented minorities on its staff from the current 10 percent to 11 percent. Lee's latest appointment marks the first Black person to be on Twitter's board . (more...)
Apple's latest innovation ... a big stake for Berkshire Apple's latest innovation ... a big stake for Berkshire
- May 17, 2016

Apple shares are almost a third below their record high last April, and well below their price at the end of March. The Apple purchase is the second big tech investment by Berkshire, which has been steadily adding to its stake in IBM ( IBM , Tech30) during the past few years. (more...)
Saudi Arabia: Sudden Change Brings Uncertainty To Oil Prices
- May 17, 2016

Falih comes from a younger generation but modernisation is also very much in line with the new approach being pushed by consultants from McKinsey and encapsulated in the government's Vision 2030 plan. In the last two years, under Naimi and his advisers, the Saudis have already taken some tentative steps towards greater openness, for example releasing transcripts of important ministerial statements. (more...)
SpaceX rocket lands on Ocean Platform again
- May 16, 2016

Despite the heat, the first stage did not blow up when it landed on a robot barge, named "Of Course I Still Love You", which floated in the dark off the coast of Florida. Even though it was late, a crowd of SpaceX employees showed up at the company's headquarters in Hawthorne, Calif., to watch tonight's launch and its aftermath. (more...)
$1B Bangladesh hackers implicated in attack on Vietnamese bank, Sony hack
- May 16, 2016

SWIFT, the worldwide financial messaging network used by 11,000 financial institutions around the world, has warned of another attack against an unnamed commercial bank. The local Daily Star newspaper quoted Farashuddin as saying that SWIFT failed to implement 13 security measures in the installation of the system. The report said the malware used against Bangladesh Bank exhibits "the same unique characteristics" as software used in "Operation Blockbuster", a campaign documented by a ... (more...)
Nissan buys 34% of Mitsubishi Nissan buys 34% of Mitsubishi
- May 16, 2016

Eight vehicle makers have interlocking working agreements, and Nissan itself was the beneficiary of an alliance, similar to its new alliance with Mitsubishi, with the French automaker Renault in 1999. Nissan has a major interest in the issue, because Mitsubishi has made Nissan's minicars since 2010. Fuel economy was overstated by as much as 10 percent on some models. (more...)
Tesla advances build plan by 2 years Tesla advances build plan by 2 years
- May 16, 2016

The company said its first-quarter delivery count was impacted by severe Model X supplier parts shortages in January and February that lasted much longer than initially expected. "I think we have done a good job on the design and technology of our products", Musk said in a conference call with analysts. About 93 percent of the Model 3 reservations have come from new Tesla customers, the company said. (more...)
Global bank hackers strike again
- May 15, 2016

A Swift spokesperson wrote in a statement: "Forensic experts believe this new discovery evidences that the malware used in the earlier reported customer incident was not a single occurrence, but part of a wider and highly adaptive campaign targeting banks". (more...)

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