• Reuters 2 days ago

    GRAPHIC-Data dependent? Five questions for the ECB

    The European Central Bank holds its first meeting of the year on Thursday as concern grows about weak economic growth at home and risks abroad from global trade tensions and Brexit. Having ended its stimulus scheme in December, ECB chief Mario Draghi is likely to be pressed on how the central bank will address further economic weakness. 1. Will the ECB change its assessment of the risks facing the economy?

  • Oracle allegedly withheld $400 million in wages from underrepresented employees
    TechCrunch 26 minutes ago

    Oracle allegedly withheld $400 million in wages from underrepresented employees

    Oracle has allegedly withheld $400 million in wages from racially underrepresented workers (black, Latinx and Asian) as well as women, the U.S. Department of Labor's Office of Federal Contract Compliance Programs said in a filing today. The OFCCP is the office within the DOL that enforces equal pay and ensures government contractors comply with anti-discrimination regulation. In the OFCCP's second amended complaint today, the office alleges Oracle "impermissibly denies equal employment opportunity to non-Asian applicants for employment, strongly preferring a workforce that it can later underpay.

  • San Francisco is a 'train wreck' of inequality because of Silicon Valley, Salesforce's CEO says
    CNBC 12 hours ago

    San Francisco is a 'train wreck' of inequality because of Silicon Valley, Salesforce's CEO says

    "San Francisco is kind of a train wreck, we have a real inequality problem," Salesforce CEO Marc Benioff tells CNBC. Benioff was a vocal proponent of Proposition C, a bill aimed at fighting homelessness by raising taxes on big businesses. Some tech CEOs fought "tooth and nail" to scuttle Prop C, Benioff says.

  • TheStreet.com 2 hours ago

    Jim Cramer: What Are We to Make of Today's Market Decline?

    You can only go so far on the idea that the economy is slowing so you don't have to worry about the Fed. The first sign that we were going to get hammered came from oil which, at one point was down almost $2. Because there are a ton of computer programs used by hedge funds that are set to sell the S&P when oil goes down.

  • No Idea Is Off Limits for IMF's First Woman Chief Economist
    Bloomberg 18 hours ago

    No Idea Is Off Limits for IMF's First Woman Chief Economist

    Gita Gopinath has a knack for asking the kind of questions that, not so long ago, might have raised eyebrows inside the International Monetary Fund, where she just took over as chief economist. What if more emerging markets actively managed their currencies, like China does? Interrogating the data for answers, and using them to poke holes in the conventional playbooks for economic policy, was a hallmark of 47-year-old Gopinath's work at Harvard.

  • U.S.News & World Report 1 hour ago

    8 Best High-Growth Investments for Your Retirement Account

    Build your portfolio with high-growth investments. Value stocks can offer some reassurance in a down market compared with the increased volatility often associated with high-growth stocks. When taking a long-term view, accounting for market cycles, investing in stocks with growth potential can pay off.

  • 5 Hyundai, Kia models have high fire insurance claim rates
    Associated Press 1 hour ago

    5 Hyundai, Kia models have high fire insurance claim rates

    The Highway Loss Data Institute, which analyzes data from insurers representing about 85 percent of the U.S. industry, found that some Hyundai and Kia vehicles equipped with four-cylinder engines have double the noncrash fire claim rates than the average of comparable vehicles. Hyundai and Kia started recalling 1.7 million vehicles in 2015 — about 618,000 of which are Kias — because manufacturing debris can restrict oil flow to connecting rod bearings.

  • Starship deploys autonomous delivery bots on a college campus
    TechCrunch 9 hours ago

    Starship deploys autonomous delivery bots on a college campus

    Starship, an autonomous delivery robot startup, is deploying its first batch of robots as part of a commercial service. Starting today, Starship will begin delivering food to the 40,000 students, faculty and staff at George Mason University in Fairfax, Va. in partnership with Sodexo, a food and facilities management company. Starship says the deliveries take 15 minutes or less, on average, depending on which items the customer ordered and where they're located on campus.

  • U.S.News & World Report 3 hours ago

    7 Marijuana Companies That Could Grow

    Here are seven marijuana companies that could seek acquisitions soon. AbbVie, a Chicago-based biopharmaceutical company that was founded in 2013 after being spun off from Abbott Laboratories, could acquire companies, such as GW Pharmaceuticals (GWPH), Insys Therapeutics (INSY), Zynerba Pharmaceuticals (ZYNE) and Cara Therapeutics (CARA), to boost its pipeline of drugs, Spatafora says. "AbbVie could buy Insys, which has been hammered for their drug, Syndros, which is complementary to what they are doing," he says.

  • IBM beats earnings, sets higher than expected 2019 guidan...
    CNBC Videos 1 hour ago

    IBM beats earnings, sets higher than expected 2019 guidan...

    Lisa Ellis from Moffett Nathanson joins "Closing Bell" to discuss IBM's successful quarter and higher than expected optimism to start off 2019.

  • Benzinga 5 hours ago

    Tesla Has A Demand Problem, According To These Analysts

    Tigress Financial analyst Ivan Feinseth said Tesla's cost-cutting efforts are nothing for investors to get worked up about. The primary concern for the market is that Tesla's new guidance for Q4 profit that will be lower than its Q3 profit is an indication that the 50-percent reduction in electric vehicle tax credits has pulled forward much of the near-term demand for Tesla vehicles, he said. Even though I remain neutral on the stock due to the valuation and the volatility, the stock has traded higher from the $260-$280 range pretty consistently, and I would be a buyer on pullbacks to that level for investors willing to withstand the high valuation and extreme volatility in the stock,” Feins...

  • How to answer 14 common but tricky interview questions
    CNBC 4 hours ago

    How to answer 14 common but tricky interview questions

    Those job hunters have asked themselves at a minimum what they want to learn from their next job, how the position will help them learn and whether their skills fit the company's mission . Jobseekers who take these basic steps will feel more prepared and empowered when they step into any interview. "By knowing these answers, you'll also be able to answer what your weaknesses are and why you want to work there in a really proactive way," explains Aujula.

  • TheStreet.com 41 minutes ago

    IBM Shares Jump After Beating Earnings and Guidance Expectations

    Adjusted earnings per share were $4.87, beating Wall Street's expectations of $4.82. Management also guided for adjusted diluted earnings-per-share of "at least" $13.90 for the full year of 2019, beating expectations of $13.80. "In 2018 we returned to full-year revenue growth, reflecting growing demand for our services and leadership solutions in hybrid cloud, AI, analytics and security," said Ginni Rometty, IBM chairman, president and chief executive officer, in a press release.

  • Reuters 3 hours ago

    PG&E shares surge as company secures $5.5 bln in bankruptcy financing

    U.S. power producer PG&E Corp's shares surged as much as 16 percent on Tuesday after it said it had secured $5.5 billion in debtor-in-possession (DIP) financing from four banks as it prepares to file for Chapter 11 bankruptcy protection. The financing will comprise a $3.5 billion revolving credit facility, a $1.5 billion term loan and a $500 million delayed-draw term loan. Investment banks JPMorgan Chase & Co, Bank of America Merrill Lynch, Barclays Plc and Citigroup Inc will provide financing, the company said in a filing.

  • Apple Concedes That Qualcomm Was the Only 4G-Ready Chip Source
    Bloomberg 12 hours ago

    Apple Concedes That Qualcomm Was the Only 4G-Ready Chip Source

    The admission on Jan. 18 by Matthias Sauer, Apple's director of cellular systems architecture, is the kind of point Qualcomm will have to score in front of U.S. District Judge Lucy Koh as it continues its defense against antitrust allegations by the U.S. Federal Trade Commission. The government has charged it with using market dominance in smartphone chips to force phone makers to pay inflated patent licensing revenue. Sauer testified that Apple considered the likes of Ericsson, Broadcom and Intel Corp. as component suppliers for devices as early as the 2012 planning phase for new products, but none could deliver to Apple's desired specifications.

  • Saudi Aramco eyes multi-billion-dollar U.S. gas acquisitions: CEO
    Reuters 7 hours ago

    Saudi Aramco eyes multi-billion-dollar U.S. gas acquisitions: CEO

    Saudi Aramco, the world's top oil producer, is looking to acquire natural gas assets in the United States and is willing to spend "billions of dollars" there as it aims to become a global gas player, the company's CEO said on Tuesday. Amin Nasser told Reuters in an interview that his company wants to increase its U.S. investments. It already owns Motiva, the biggest U.S. oil refinery.

  • Health Savings Account Rules: 6 Little-Known HSA Tips That Will Save You Money
    Investor's Business Daily Video 3 minutes ago

    Health Savings Account Rules: 6 Little-Known HSA Tips That Will Save You Money

    Health Savings Account Rules: 6 Little-Known HSA Tips That Will Save You Money

  • Company Chairman, Wife Cut Stake as Hong Kong Stock Plunged 89%
    Bloomberg 13 hours ago

    Company Chairman, Wife Cut Stake as Hong Kong Stock Plunged 89%

    Shum Tin Ching and his wife Wang Xinmei sold 93.6 million shares of Jiayuan International Group Ltd. on Jan. 17 at an average of HK$2.7611 apiece -- about a 79 percent discount from the previous day's close -- according to a Hong Kong exchange filing. Jiayuan tumbled as much as 24 percent before shares were suspended. Stocks that plunged last week with Jiayuan also sank, with Sunshine 100 China Holdings Ltd. falling as much as 13 percent and Rentian Technology Holdings Ltd. retreating 9.1 percent.

  • Here's How John Paulson Is Positioning His Celgene/Bristol Trade
    Bloomberg 8 hours ago

    Here's How John Paulson Is Positioning His Celgene/Bristol Trade

    Bristol-Myers “is vulnerable and it has an attractive pipeline to several potential acquirers,” Paulson said in the podcast released Monday. Paulson has the Celgene/Bristol-Myers trade as a 3 percent portfolio position, though his firm is short a pharma index rather than Bristol-Myers for about half of the position. “I just don't feel comfortable being short Bristol in this environment,” Paulson said.

  • Stocks Tumble on Growth, Trade-Tension Pessimism: Markets Wrap
    Bloomberg 2 hours ago

    Stocks Tumble on Growth, Trade-Tension Pessimism: Markets Wrap

    Chipmakers plunged more than 3 percent, with every member of the Philadelphia Semiconductor Index in the red. Caterpillar and DowDuPont led declines in the Dow Jones Industrial Average of more than 400 points at one point. The S&P 500 briefly pared losses after presidential adviser Lawrence Kudlow said a Financial Times report that the U.S. canceled a preliminary meeting with Chinese officials was untrue.

  • CNBC 11 hours ago

    US shale's full impact still hasn't hit oil markets, IEA director says

    The International Energy Agency's executive director says the effect of U.S. shale on the world's energy industry will be felt for years to come. "While the other two giants voluntarily cut output, the U.S. — already the biggest liquids supplier — will reinforce its leadership as the world's number one crude producer," the IEA said in its monthly report. Shale oil's impact will have "huge implications" for global energy markets for many years, Fatih Birol, executive director at the International Energy Agency, told CNBC on Tuesday.

  • Cloud, services fuel IBM's profit beat, robust outlook; shares jump
    Reuters 51 minutes ago

    Cloud, services fuel IBM's profit beat, robust outlook; shares jump

    IBM Corp (IBM.N) beat analysts' fourth-quarter earnings estimates and forecast full-year profit above expectations on Tuesday, as the company benefits from its focus on newer businesses such as cloud, software and services, sending its shares up about 7 percent. The company has been shifting towards the faster-growing segments to lower dependence on its traditional hardware products and reverse years of revenue declines. "We had our strongest signings quarter to finish out the year in a long period of time, where we signed roughly $16 billion worth of signings - that's up 21 percent," Chief Financial Officer James Kavanaugh told Reuters.

  • Foxconn says trying to hire 50,000 people in first quarter after job cut reports
    Reuters 14 hours ago

    Foxconn says trying to hire 50,000 people in first quarter after job cut reports

    Taiwan's Foxconn (2317.TW), assembler of Apple Inc's (AAPL.O) iPhones, on Tuesday said it was trying to recruit for more than 50,000 positions across its China campuses for the January-March quarter, amid reports of mass lay-offs. The world's largest contract manufacturer, formally known as Hon Hai Precision Industry Co Ltd, said in a stock exchange filing that changes in employee numbers were part of its usual adjustments based on global strategy and clients' needs. Last week, the Nikkei reported that Foxconn had let go around 50,000 contract workers in China since October, months earlier than normal.

  • Chinese Drone Giant DJI Unearths $150 Million Losses From Fraud
    Bloomberg 2 days ago

    Chinese Drone Giant DJI Unearths $150 Million Losses From Fraud

    DJI has unearthed cases of fraud involving its own employees that may trigger losses of about 1 billion yuan ($150 million) for the world's largest drone maker, marking one of the largest recent cases of graft among China's technology giants. SZ DJI Technology Co., which discovered the corruption in an internal probe, said it's fired multiple workers who inflated parts costs for personal gain, and contacted law enforcement. DJI, which employs 14,000 people around the globe, is the runaway leader in consumer drones with almost three-quarters of the market.

  • TheStreet.com 5 hours ago

    Oil Prices Could Surge 25% From Here

    Between the start of the fourth quarter of 2018 and the end of the calendar year, crude oil prices were in freefall, the price of a barrel chopped by around 44% in that three-month stretch. During that rout, crude prices ended lower for 12 straight sessions, the longest losing streak in the history of oil trading. As of this writing, the classic technical tools put a 25% upside target on oil prices, provided one condition gets met.