Uber CEO and co-founder Travis Kalanick tells The New York Times that he has resigned. Kalanick, who just last week announced he was taking an indefinite leave from the company he co-founded, was forced out after investors decided the company needed a change in leadership, according to a letter sent to Kalanick and obtained by the Times. “I love Uber more than anything in the world and at this difficult moment in my personal life I have accepted the investors request to step aside so that Uber can go back to building rather than be distracted with another fight,” Kalanick said in a statement given to the Times.
MSCI announced it would add China A-shares to its MSCI Emerging Markets Index after rejecting China's previous three attempts. MSCI plans to add 222 Chinese shares to its Emerging Markets Index, with an initial weighting of 0.73 percent. The full inclusion of domestic Chinese stocks in the widely tracked MSCI Emerging Markets Index could pull more than $400 billion of funds from asset managers, pension funds and insurers into mainland China's equity markets over the next decade, according to analysts.
From the growth point of view, Brexit can affect the economy in two ways. In the near term, uncertainty from Brexit and rising inflation from the reduction in Sterling trade since the vote could cause a modest demand-side shock. But that effect has been much smaller than expected. In fact, the economy has outperformed the non-Brexit scenarios. Of course, we do not know how the economy would have performed had the UK not voted to leave. That seems to be an absence of the short-term demand-side shock. I am confident that the UK can continue to enjoy a broad-base expansion over the next couple of years. I see probably 2% real GDP growth this year followed by 1.7% next year.
An upgrade to a Swiss supercomputer has bumped the US Department of Energy's Cray XK7 to number four on the list rating these machines. According to supercomputer ranking published on Monday, Switzerland’s 19.6 petaflop1 Piz Daint supercomputer ranked third in the world after Sunway TaihuLight and Tianhe 2, two Chinese supercomputers. The only other time the US fell out of the top three was in 1996. If there’s any consolation, U.S.-based systems secured five of the top ten spots on the TOP500 list.
To bar kids from being addicted to the smartphones, a group in the US state of Colorado has sought ban on sale of the device to those below the age of 13. Tim Farnum, founder of the non-profit group Parents Against Underage Smartphones, or PAUS, is leading the charge on a proposed ballot initiative in Colorado that would be the first of its kind in the country, the USA Today reported on Monday. With around 80 percent of Americans now owning a device, the number of under 13s that have their own handset is also on the rise.
Now is not the time to raise interest rates, Bank of England Governor Mark Carney said on Tuesday, warning that already weak wage growth risked a further loss of momentum as Britain prepares to leave the European Union. In a speech to London's banking community a day after Brexit talks started, Carney dashed any prospect that he might be close to joining the three BoE policymakers who last week unexpectedly voted to raise rates from their record low of 0.25 per cent.
Institutional investors in the UK and other developed markets are finally beginning to wake up to a truth that their counterparts in US, Germany and the Netherlands have long known: residential property is an attractive source of income that complements commercial property beautifully. The bedrock of the appeal of residential is the shortfall of homes across most of Europe. Even if populations stay stable, there is already huge under-supply as a result of low development and this is exaggerated by the total number of homes required is growing, because the number of households is increasing: people are more likely to live alone and less likely have large families. In Germany, for example, the population has increased by only 12% since 1961, but the number of households has risen by 110%. Housing supply is notoriously unresponsive to changes in demand – certainly much less so than commercial property. Because of planning restrictions, particularly in countries in Europe with a strong tradition of preserving green open spaces, residential does not work like a free market. This supply constraint buoys rental incomes and, indeed, values.
Nestle has acquired a minority stake in US online meal-kit service Freshly, the latest investment a packaged food major has made in the category. The world's largest food maker did not disclose the size of stake it has bought in Freshly but said it was "the lead investor in the $77mln round of new funding" that was announced by Freshly on Monday.
The Swiss government cut its outlook for 2017 economic growth in its latest forecast on Tuesday, adding it expected inflation to remain subdued. The State Secretariat for Economic Affairs (SECO) said it expected economic growth of 1.4 percent in 2017 instead of 1.6% estimated previously in March. At the same time, projection for 2018 was retained at 1.9%. "The slight downward adjustment compared with the previous forecast takes into account the more sluggish growth seen in the first quarter. Economic growth is expected to accelerate substantially throughout the year due to favourable economic conditions at an international level and thanks to the continued strong sentiment indicators," SECO said.
Regulierung – seit der Finanzkrise prägt der Ruf nach mehr Kontrolle das Banking: Wegen regulator
Die Fonds-Konferenz der SKSF ist eine wichtige, branchenspezifische Plattform für Wissens- und Erfa
2 evenings to find out about the latest from the digital industry & 2 days to find ideas and to crea
ICDA will return this year to its alpine home for the 38th Bürgenstock Meeting.
The objective of the Conference is to bring together all the diverse stakeholdersinterested in a pol
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