Delta CEO Ed Bastian attributes the recent spate of computer network failures at major airlines to the lack of investment over the past decade. Bastian believes technology is best used as a means to improve the customer experience at Delta. The airline industry is not known for making money.
After a 23-year career at Microsoft and two-years at Juniper Networks, Bob Muglia has spent the last four years in his first CEO role, happily running a fast-growing cloud database startup called Snowflake. Muglia is also the first to admit that he will also forever be known as the guy who suffered two pretty humiliating career crashes under former Microsoft CEO Steve Ballmer.
Something very telling has happened over the last three days in the gold market. "The last three days have reconfirmed by commitment for a much higher gold price in 2018. We are making higher lows for the year - the recent behavior made me nervous, but something very telling happened in the last three days," says longtime commodities trader Vince Lanci, founder of Echobay Partners. Lanci noted he could see the metal hitting $1,700 an ounce or higher in 2018. If correct, his forecast would be an over $450 rally from the current level of $1,250 an ounce. "On Tuesday we had a short covering rally. And Wednesday there was a 10,000 contract increase in December - that's very unusual, that is an over
The best way to watch for the next big market bubble is to watch tech companies, says Bank of America Merrill Lynch. In particular, investors should be watching for divergence between tech stocks and tech companies with high-yield credit ratings. For signs of the next big market bubble, your best bet is to watch tech companies.
Woohoo! Under the final tax bill President Trump is poised to sign within days, my annual tax payment would drop by about $2,100, compared with what I paid in 2016. Instead, I’ll probably save it and try to earn a respectable rate of return, so I have the money on hand in the future if Congress has to raise taxes to fill the budget hole they’re creating by cutting taxes in 2017. House and Senate Republicans have now agreed on a final tax bill Congress seems likely to pass within days.
Strategist: Here's the biggest risk to the market in 2018 4:05 PM ET Fri, 15 Dec 2017 | 02:10 Forget bitcoin — the biggest risk to stocks next year will actually be the bond market. That's according to Joe Zidle, a portfolio strategist at Richard Bernstein Advisors. The Wall Street analyst believes that investors are going into 2018 assuming that rising bond yields — which move inversely of prices and affect consumer borrowing costs — will stay low. For that reason, Zidle thinks markets are generally unprepared for a possible rally in rates that could occur, thanks to a number of fundamental factors. "I think in 2018, the big surprise could be higher 10-year Treasury yields, and that's something
MarketWatch rounded up 10 of its most interesting topics over the past week. 1. Bitcoin futures Playing bitcoin BTCUSD, +2.60% got a lot easier for investors when Cboe Global Markets launched a January futures contract under the symbol XBT XBTF8, +7.68% on Dec. 10. Here are the risks and opportunities from this new ability to go long or short bitcoin. 2. Cryptocurrencies for 2018 Analysts share their thoughts about how seven bitcoin rivals may perform in 2018. 3. Stocks related to cryptocurrencies might be less risky Rather than speculating on bitcoin, it might be safer to invest in stocks of companies that benefit from cryptocurrency trading. And Jeff Reeves says that while he is “impressed
Metlife Inc failed to pay pensions to potentially tens of thousands of people and will have to strengthen its reserves because of the costs of finding and repaying them, the New York insurer said. Metlife said in a filing on Friday that it believed the group missing out on the payments represented less than 5 percent of about 600,000 people who receive benefits from the company via its retirement business. When taken, however, the increase to reserves could be material to Metlife's financial results.
Bitcoin investors expect futures volumes to perk up when CME Group Inc, the world's largest derivatives exchange operator, launches its own contract to wager on the cryptocurrency on Sunday. The second U.S. bitcoin futures launch is seen as another step towards big institutional investors warming up to a volatile asset that had until recently been accessible only via largely unregulated markets. Like the futures contract launched last week by rival Cboe Global Markets, CME's will be cash settled.
Aerospace and defense group Thales has agreed to buy chipmaker Gemalto for 4.8 billion euros ($5.6 billion), trumping an earlier bid by fellow French firm Atos to expand in the fast-growing digital security market. The bidding race for Gemalto has come after a difficult year for the Franco-Dutch group in which profit warnings have hurt its share price and overshadowed its attempt to shift from a slowing market for phone SIM cards towards security services such as data encryption and biometric passports. "This is a terrific project," Thales CEO Patrice Caine told reporters on Sunday.
Life was going well for Christopher Partee when the woman approached him in tears. The forklift operator had recently been made a permanent employee at a Memphis warehouse newly opened by a supply-chain logistics company. Partee thought perhaps he himself could eventually become a supervisor.
(Correction: Goldman Sachs raised its 2018 price target for West Texas Intermediate crude oil to $57.50, not $62.) Oil has failed to stage a sustained rally so many times, you couldn’t blame an investor from avoiding the industry altogether. But this time might be different. West Texas Intermediate (WTI) crude oil CL1, +0.33% rose 21% to $57.62 a barrel as of Dec. 5 from Aug. 21. On Dec. 4, Goldman Sachs increased its 2018 price forecast for WTI to $57.50 from $55. A year ago, many energy-industry analysts and market gurus expected 2017 to be a year of massive gains for energy stocks amid an oil recovery. It didn’t turn out that way, as the price stalled in March and then again in May and June:
CSX Corp Chief Executive Hunter Harrison has died, the freight railway operator said on Saturday, just a few days after announcing that the veteran rail executive hired earlier this year to boost its profits had taken a medical leave of absence. Harrison, 73, died "due to unexpectedly severe complications from a recent illness," the company said in a statement, adding that he would be succeeded for now by acting CEO Jim Foote. "We are immensely grateful for the opportunity to have worked with the railroad legend," Foote said in a letter to employees of CSX, which has some 21,000 miles of track, mostly east of the Mississippi River, adding that it would "honor his legacy by staying focused" on his business plan.
Striking workers idled Israel’s international airport, government offices, banks and stock market for half a day, pressing to scale back Teva Pharmaceutical Industries Ltd.’s plan to fire 25 percent of its employees. Teva workers protesting near facilities around the country tied up morning rush-hour traffic on Sunday and burned tires outside a Jerusalem factory where a group of employees barricaded themselves inside. A solidarity walkout called by the Histadrut labor federation lasted until noon, in response to Teva management’s announcement on Thursday that it would cut 1,700 jobs and shut down two plants in the country. The firings are part of a bigger plan to slash 14,000 jobs worldwide as
By Heather Somerville SAN FRANCISCO (Reuters) - Ride hailing company Uber was obligated to turn over to a U.S. federal judge a letter from a former employee that told of the company's "fraud and theft" and mentioned evidence of stolen trade secrets nailed "like a scalp" to the wall, a court official said Friday. Special master, John Cooper, assigned to a lawsuit against Uber Technologies Inc [UBER.UL] by Alphabet Inc's self-driving car unit, Waymo, released a report on Friday stating the company should have produced the letter and was wrong in keeping it from the court. The letter, from former Uber security analyst Richard Jacobs alleging Uber engaged in illegal and unethical competitive tactics and had stolen trade secrets, is at the heart of Waymo's lawsuit against Uber.
It’s the end of the year, and for those of us in the newsroom who spend far too much time hunting tips, charts and RTs on Finance Twitter TWTR, -1.55% that means one thing: time to update our annual list of who to follow. Our 2016 edition was all about the names that might offer a heads-up on market tumult (remember when we were worried about that?!). For 2017, we put together a comprehensive list that, honestly, still stands for 2018. (A full roundup is available in one Twitter list right here.) This year... it’s all about crypto. But before we dive head-first into the blockchain, we’ve been asking you, our readers, for 2018 nominees and a few of you spotted that we were under-representing accounts
This is a preview of a research report from BI Intelligence, Business Insider's premium research service. To learn more about BI Intelligence, click here. No firm is immune from the coming disruption and every company must have a strategy to harness the powerful advantages of the new fintech revolution.
She was fired. Or was she? Omarosa Manigault Newman, who served as communications director for the Office of Public Liaison at the White House, resigned Tuesday. She previously appeared on “The Apprentice,” the show Donald Trump hosted before he was president. She left the White House to “pursue other opportunities” and will remain in her job until Jan. 20, according to a statement from the White House. However, some media reports said Newman was “physically dragged” and “escorted” from the White House campus. She appeared on ABC’s “Good Morning America” Thursday and said she resigned after seeing situations in the White House that made her “uncomfortable.” “[Chief of Staff] John Kelly and I
The top tax rate that U.S. companies would pay on an estimated $3.1 trillion in earnings they’ve stockpiled overseas crept up to 15.5 percent in the final version of the GOP tax bill released Friday. President Donald Trump had initially called for a top rate around 10 percent for companies’ offshore profits, but as GOP lawmakers searched for revenue to offset the cost of other tax cuts, one of the sources they settled on was multinationals’ offshore cash. Under the GOP tax plan that’s headed for votes in the House and Senate next week, earnings that companies hold offshore as cash and cash equivalents would be taxed at 15.5 percent. Income invested in less-liquid assets -- including plants and
Procter & Gamble Co. (PG) late Friday moved to appoint activist investor Nelson Peltz to its board even though the iconic American packaged goods company's inspector of elections said that he lost the largest boardroom battle in the history of director insurgencies. "We respect Nelson Peltz as a highly engaged shareowner and investor, and look forward to his contributions as a member of P&G's Board," said P&G CEO David Taylor. "We have had constructive discussions with Nelson and we are committed to working together for the best interests of all P&G shareholders." According to a securities filing, P&G's inspector of elections, IVS, said in its final vote tabulation that Peltz received 972,766,372
The most difficult part of giving presents around the holidays, at least for me, is coming up with good ideas. But now I have one that your child can appreciate for decades — a practical gift that can lower their stress and set up a healthy financial life when they reach adulthood. I used to dread this time of year. Not only because I would refuse to wear the sweaters I was given, but because it kept getting more difficult to come up with ideas for presents for people who lacked nothing. How many times can one score by coming up with something rare or unexpected that the recipient would love or, at least, be amused by? So in my extended family we all agreed to stop giving presents, except for
At the end of every year, millions of Americans can make strategic moves to shave a few bucks off their April tax bill. Giving to charity, a tax deduction that’s preserved under the tax bill, is an effective way to boost your 2017 deductions on short notice.
The major U.S. indexes moved higher last week thanks to favorable economic data and a GOP tax bill that is ready for a vote. On Wednesday, the Federal Reserve hiked interest rates to a range of 125 to 150 basis points in a widely anticipated decision. Fourth quarter retail sales also rose a better-than-expected 0.8% thanks to very strong holiday spending, but industrial production came in lower than expected at 0.2% last month. The GOP tax bill will face a vote next week after lawmakers finalized the language over the past week. International markets were lower over the past week. Japan's Nikkei 225 fell 1.11%; Germany's DAX 30 fell 0.38%; and Britain's FTSE 100 rose 1.22%. In Europe, British
We are in the midst of a bitcoin gold rush: Jobs related to the cryptocurrency have soared in 2017, as its value continues to hit record highs. Job site Freelancer said cryptocurrencies have been one of the fastest growing online jobs this year, with 82% growth in the last three months alone. Cryptography, the practice of code breaking central to bitcoin and other cryptocurrencies, has also seen a 59% increase in interest on the site in the third quarter. Bitcoin and other cryptocurrencies run on the blockchain, a decentralized technology that creates a public ledger using a crowd-sourced system of computers. The value of bitcoin BTCUSD, +9.84% jumped from $969 in early 2016 and has climbed
It takes guts to be a doomsayer when the majority is caught up in the euphoria of one of the most powerful stock market rallies in years. Yet, that has not deterred Albert Edwards, global strategist at Société Générale, from warning of a massive bubble in U.S. equities and likening it to the controversial bitcoin mania. A bubble, according to the self-professed uber bear, can be detected by the relentless rise in prices that typically drowns out warnings from doubters. “That is something the main S&P Composite Index certainly shares with bitcoin,” said Edwards in a report Thursday. The strategist noted that sentiment has not been this exuberant since the days leading up to the 1987 market crash