The office affair which sparked Intel CEO Brian Krzanich's surprise resignation on Thursday started a decade ago and ended before he became CEO in 2013, The Wall Street Journal reported. Intel CEO Brian Krzanich resigned on Thursday after it was found that he violated a company policy regarding relationships with co-workers. The relationship was with a woman who still works at Intel and started about a decade ago, sources told the Journal.
The backlash against Silicon Valley is growing. Steve Ballmer, the former CEO of Microsoft, has some advice for the likes of Facebook and Google: Accept you've screwed up, and work with regulators to fix it. As Silicon Valley battles scandals and increasing regulatory scrutiny, Former Microsoft CEO Steve Ballmer has warned Facebook and Google not to make the same mistake Microsoft did.
A rat took up residence in a State Bank of India ATM in the town of Tinsukia, India. The ATM was out of order for days after it stopped dispensing money, according to Reuters. Patrons reported the issue, and when technicians looked into the problem, they found the dead rat and shredded money.
The marijuana legalization movement is picking up speed. Uruguay became the first nation in the Americas to permit recreational marijuana usage in 2014. Marijuana stocks were waiting for a bigger market to come online.
Rates for home loans pulled back in line with bond yields as trade war fears sent investors piling into safe assets. The 30-year fixed-rate mortgage averaged 4.57% during the June 21 week, down from 4.62%, mortgage provider Freddie Mac said Thursday. Mortgage rates follow the path of the 10-year U.S. Treasury note,(XTUP:TMUBMUSD10Y=X) although with a lag.
Micron Technology Inc. (NASDAQ:MU) did it again. Strong earnings, and a stronger forecast from CEO Sanjay Mehotra, continued to power Micron stock upward, but bears won’t let it go past the fundamentals so the memory chip maker is still a buy. On June 20 Micron reported net income of $3.823 billion, $3.10 per share, on revenue of $7.8 billion for the quarter. This compares to earnings of $1.65 billion, $1.40 per share, and revenues of $5.56 billion a year ago.
Since its December 2016 oil production-cut deal came into effect, the Organisation of Petroleum Exporting Countries (OPEC) has seen crude oil prices more than double, following the market rebound from the lows of early 2016. Due to the global anticipation of the Cartel’s voluntary supply withdraws – aimed at further sustaining the technical price recovery – prices have steadily continued to trend higher since the 2014 Brent Crude oil contract plunged. Brokered by Algeria, the deal to cut production volumes – following OPEC’s 2014 attempt to break the US Shale-Oil industry by permitting the global supply overhang – nears its official end in the second half of the year.
Filling your mind with pleasing images of retirement — what you’ll do, where you’ll reside — can divert attention from the daily grind. Counting the days until retirement gets easier if you’re used to priming your brain to work to your advantage. Joanne Waldman is director of training at Retirement Options, which certifies retirement coaches and offers retirement readiness assessments.
The "Fast Money" traders break down their past coverage of bitcoin.
Apple Inc. has struggled to meet Wall Street’s expectations for iPhone units sales in recent quarters, but the company has surprised investors by getting consumers to pay ever more for its phones. The threat of a full-blown trade war isn’t having the impact on investor sentiment and stock prices that might be expected judging by double-digit gains for the Nasdaq and modest but positive returns for the S&P 500 so far this year.
General Electric’s (NYSE:GE) operating segment, GE Transportation, recently secured orders for 50 new locomotives from the Mexican and US rail subsidiaries of Kansas City Southern (NYSE:KSU). Notably, these locomotives are expected to be delivered by
Legendary hedge fund manager Paul Tudor Jones became famous after predicting the market crash of October 19, 1987, known as “Black Monday” when the Dow Jones dropped more than 22%. “The crash of ’87 was really interesting just because the crash of ’87 probably never would have happened except for, again, the market infrastructure at that point in time,” Jones said in a conversation with Goldman Sachs CEO Lloyd Blankfein as part of the firm’s “Talks at GS” series. Jones, 63, began his career at E.F. Hutton as a commodities trader in the cotton pits in 1976 before transitioning to macro trading and founding his hedge fund, Tudor Investment Corp in 1980.
Tom Kloza, Oil Price Information Service head of energy analysis, discusses how gas prices will be impacted by OPEC's decision to hike oil output.
Foxconn, which makes electronic devices for Apple and Amazon in China, will open its first U.S. facility in Winsoncin. Foxconn, the world’s largest electronics contract manufacturer and a major Apple (APPL) supplier, defended its $10 billion investment in the U.S. amid the trade dispute between the U.S. and China. “If you want to work around customers, to satisfy [their different needs], or take advantage of [the] consumer electronic markets, there are no other places to go but China and the U.S,” said Louis Woo, special assistant to Foxconn Chairman Terry Gou, at the SelectUSA Investment Summit in National Harbor, Maryland, on Thursday.
Intel Corp. ex-Chief Executive Brian Krzanich’s affair with an employee, which cost him his job this week, started before he was CEO and ended several years ago, according to people familiar with the matter. The relationship, which those people said started about a decade ago, came into public view this week when Mr. Krzanich, 58 years old, resigned after the chip maker determined he had violated company policy by having a relationship with a co-worker. The woman involved in the affair still works at Intel, the people said.
Special Counsel Robert Mueller asked a judge to bar Paul Manafort from arguing at his upcoming criminal trial that the government’s investigation into his business activities was selective or vindictive. Donald Trump’s former campaign chairman should also be blocked from speculating about Mueller’s motive or saying the Justice Department probed the same activity in 2014 “and simply chose not to pursue it,” the U.S. said in a filing Friday in federal court in Alexandria, Virginia. “The boundaries of the special counsel’s authority are irrelevant to the jury’s consideration of whether the evidence proves the elements of the tax, foreign account, and bank fraud offenses,” the U.S. said in the filing.
President Donald Trump on Friday threatened to escalate a trade war with Europe by imposing a 20 percent tariff on all U.S. imports of European Union-assembled cars. Trump posted his threat on Twitter the day European Union reprisals took effect against U.S. tariffs on European steel and aluminum. The EU targeted $3.2 billion in American goods exported to the 28-member bloc.
Shares of Caterpillar CAT closed up marginally on Friday, ending a streak of nearly two straight weeks of losses on the back of heightened trade war tensions between the U.S. and China. With that said, now might be the time for investors to consider buying Caterpillar stock based on its currently stellar valuation picture and strong growth prospects. Caterpillar has been one of the Dow’s worst performers during its recent downbeat stretch, which stands in stark contrast to its standing over the last few years.
Perhaps it is because trading stocks can often mirror the thrill of winning big at the blackjack tables, or maybe it is because Las Vegas conjures images of the world’s most flashy brands and businessmen. Regardless of the reason, it is clear that gambling
From late April to early June, Chinese e-commerce giant Alibaba Group (NYSE:BABA) went gangbusters. It also acquired Daraz and continued to expand the commerce business into Southeast Asia. BABA stock was soaring from $170 to $200 and up.
The automotive giant is bringing back the Chevrolet Blazer — which it hasn’t manufactured since 2005 — as part of an attempt to create SUVs in all shapes and sizes as Americans desire more personalized vehicles nowadays. The Blazer will be bigger than an Equinox but smaller than a Traverse. The new GM vehicle will not look like the old Blazer as it will instead be modeled after the original Blazer, which is designed to attract a younger audience.
Stephanie Clifford, the adult-movie star professionally known as Stormy Daniels, wants the lawsuit alleging her former lawyer colluded with Donald Trump’s long-term attorney Michael Cohen sent back to state court. Cohen used “procedural gamesmanship” to have the case she filed June 6 in California state court in Los Angeles transferred to a U.S. federal court, Clifford said Friday in a court filing. The lawsuit is against Keith Davidson, who negotiated the $130,000 “hush payment” she received in 2016 from Cohen not to discuss an alleged tryst she had with Trump a decade earlier.
Tesla is closing down solar panel sales and installation facilities in nine states, Reuters reports, citing current and former employees of the company’s solar business as well as internal documents. The documents name 14 solar panel installation locations of what was previously SolarCity across nine states as well as a suspension of a retail partnership with Home Depot. This partnership, Tesla employees told Reuters, brought in half of the solar business’ sales.
Opinion: Memory chip maker’s stock gains after it combats every doomsday scenario with results and forecastBloomberg News/Landov”The industry we operate within is structurally different than in the past,” Micron Chief Executive Sanjay Mehrotra said Wednesday. Micron Technology Inc. once again countered all the doubts surrounding its stock Wednesday, as executives forcefully contended that the current strength in memory markets is not just a cyclical upturn. Micron (MU) on Wednesday reported strong profit and sales gains with a forecast that showed confidence that demand for memory chips will continue, along with higher prices of those components.
There’s a lot to like about Kinder Morgan (NYSE:KMI) at the moment. While KMI is still heavily leveraged, the balance sheet is improving. KMI stock looks reasonably cheap compared to peers, and plans for an increasing dividend suggest the yield could exceed 7% (against current prices) in just two years.