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.
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.
Tax reforms, a Goldilocks economy and strong fundamentals will again fuel double-digit gains in the S&P 500 index, propelling the large-cap index to 3,000 by the end of 2018, according to J.P. Morgan. The forecast makes the investment bank among the most bullish on Wall Street, particularly in light of Goldman Sachs’s target of 2,850 and Morgan Stanley’s prediction of 2,750. “We believe progress on GOP/Trump policy initiatives—i.e., lower corporate taxes, reduction in regulatory burden—should be a significant source of upside for equities and drive further rotation from growth to value styles and across sectors,” said Dubravko Lakos-Bujas, U.S. head of equity strategy at J.P. Morgan, in his 2018
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.
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
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.
Dec.17 -- Charles Lieberman, chief investment officer at Advisors Capital Management, discusses the U.S. tax plan, what it could mean for businesses and his outlook for the dollar. He speaks on "Bloomberg Daybreak: Asia."
E. Hunter Harrison, who turned around three railroad carriers during a five-decade career before being tapped by CSX Corp. to improve the company’s lackluster performance, has died days after taking medical leave. He was 73. Harrison died in Wellington, Florida, on Saturday from complications from a recent illness, the company said in a statement. “Hunter was a larger-than-life figure who brought his remarkable passion, experience and energy in railroading to CSX,” the company said. “The entire CSX family mourns this loss.” Harrison, who had heart bypass surgery in 1998, occasionally used a portable oxygen tank to treat shortness of breath. The company announced on Dec. 14 that he would take
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.
Tencent Holdings Ltd. will acquire a stake in Chinese supermarket chain Yonghui Superstores Co. for about 4.22 billion yuan ($638 million), a rare incursion into a physical retail arena coveted by rival Alibaba Group Holding Ltd. China’s largest internet corporation is buying about 5 percent of Yonghui from existing shareholders at 8.81 yuan apiece, Yonghui said in an exchange filing Friday, a 9.9 percent discount to its price before trading was halted on Dec. 8. The investment -- a rare foray into traditional retail for a company known for games and messaging service WeChat -- may be intended to drive adoption of its digital payments service in stores. Yonghui surged by the daily limit in Shanghai.
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
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
Dec.18 -- Tongli Han, chief investment officer at Deepblue Global Investment, discusses central bank policy, Japan's economy and where you can go for real yield. He speaks on "Bloomberg Markets: Asia."
By Jonathan Barrett Sydney (Reuters) - Australia's Aconex Ltd said on Monday it had received a A$1.56 billion ($1.2 billion), or A$7.80 in cash-per-share, buyout offer from U.S. software major Oracle Corp , sending the target's share price up 45 percent. Aconex said in a statement its directors unanimously recommended the offer, with shareholders of the cloud-based project management company scheduled to vote on the bid at a scheme meeting in March next year. The Australian company specializes in web-based project management software that allows input from different teams.
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 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
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
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.
A federal judge made public late Friday a letter Uber Technologies Inc. had paid $7 million to keep quiet, laying out in detail the company’s alleged corporate espionage program, including wiretapping, hacks, bribery and Central Intelligence Agency–trained spies deployed in the furtherance of its ambition to dominate the ride-hailing industry worldwide. The letter, signed by ex-Uber employee Richard Jacobs, spurred some of the revelations that became public during a lively Nov. 28 hearing in a San Francisco courtroom before Judge William Alsup. They surround the Threat Operations unit at Uber, which existed for the express purpose of using unlawful and unethical means among other tactics to gain
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
As investors gear up for the end-of-year Santa rally, political uncertainty lingers in the backdrop, threatening to dampen holiday spirit if politicians fail to reach a deal to avert a government shutdown. And even as pundits play down the possibility of government coming to a screeching halt, the threat may keep some jittery investors sidelined. House Republicans unveiled a short-term spending bill this week to keep the government running through Jan. 19. The proposal includes controversial offsets that Democrats have already rejected. Washington, D.C., strategists expect some sort of a deal to be hammered out. “In the end, both parties figure out that they lose with a shutdown,” said Tom Block,
Dec.17 -- Charles Li, chief executive and executive director at HKEX, discusses the exchange's proposed changes to dual-class shares and his outlook for the IPO market. He speaks on "Bloomberg Markets: Asia."
Dec.17 -- A second exchange has started trading bitcoin futures. CME flipped the switch earlier today. Bloomberg's Justina Lee reports on "Bloomberg Daybreak: Asia."