News

24.08.2017

Tiffany sets bigger Q2 profits than expected

Tiffany  today reported its financial results for the three months (“second quarter”) and six months (“first half”) ended July 31, 2017. In both periods, modest net sales increases and improved operating margins contributed to growth in diluted earnings per share. Management maintained its sales and earnings guidance for the full year ending January 31, 2018 (“fiscal 2017”), and provided guidance for the second half of the year.

 
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24.08.2017

Tesla Model S gets thumbs down by German environment minister

Amidst almost universal accolades for the Tesla Model S, an environmental minister for the German state of North Rhine-Westphalia has done the unthinkable. He has returned the Model S he used for official business, claiming it has several drawbacks that make it unsuitable for everyday driving.

 
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24.08.2017

Expert Commentary: Focus on Gold

What factors would determine the future performance of gold prices? I suppose that it is all about the outlook for the trend of interest rates in the United States. By that I mean the Treasury Inflation Protected Securities yield and the federal funds rate. In my opinion, these would be the factors that will drive the price of gold. At this point in time, our view is that the fed fund rate will be moving higher, thus, we are not anticipating much more strength in gold prices, not much beyond the $1,300 to $1,350.

 
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24.08.2017

US Congress: Members plan to set regulatory control over Bitcoin

Members of the U.S. Congress are drafting legislation that would protect certain forms of cryptocurrency from being used for illegal activities while helping cultivate mainstream adoption. Reports indicate that at least one Republican senator and two Republican congressmen are working on the bill.

 
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24.08.2017

Intesa San Paolo closes the deal with Swiss private Banque Morval

Italy's largest retail bank Intesa Sanpaolo said on Wednesday it had reached an agreement to buy Switzerland's Banque Morval. "The agreement is in line with Intesa Sanpaolo's strategic plan to strengthen its presence on international markets in the field of private banking," the two said in a joint statement, without disclosing the value of the acquisition.

 
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23.08.2017

Brexit's mistakes: EU citizens received letters to leave UK

The Home Office sent about 100 letters "in error" to EU citizens living in the UK, telling them they were liable for "detention". The mistake emerged after a Finnish academic, who has the right to live in the UK, received one of the letters. Eva Johanna Holmberg, a visiting academic fellow from the University of Helsinki at Queen Mary University of London, was told in the letter that she had a month to leave. She has lived in the UK with her British husband for most of the last decade.

 
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23.08.2017

Norway's sovereign fund hit record in first half 2017

Norway's sovereign-wealth fund, the world's biggest, topped a $1 trillion valuation after the best half-year return in its history. In the first half of 2017, the Government Pension Fund Global (GPFG) made 499 billion kroner ($63 billion), a 2.6% return on its investments, the best half-year return in its history, the fund announced on Tuesday.

 
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23.08.2017

Teens push pression on Facebook, they prefer Snapchat and Instagram

Facebook will see a decline among teenagers in the U.S. this year, says market research firm eMarketer. Facebook usage among U.S. users between the ages of 12 and 17 is expected to decline for the first time this year, falling 3.4% from the previous year, according to the research. While this decline gives Snap Inc. a rare edge, as teens are fleeing to its platform, Facebook is still in the game as teens seem to be spending time on its other property, Instagram. 

 
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23.08.2017

Draghi defends QE warning Central Banks over monetary policy

President Mario Draghi gave little indication about the next steps for monetary policy in the euro zone during a speech on Wednesday ahead of a key meeting between central bankers. The European Central Bank chief seemed to have learned from his own mistakes by avoiding commenting on how and when he might bring monetary stimulus to an end. Speaking at a conference in Lindau, Germany, Draghi praised economists' research and said that adjustments to monetary policy are "never easy." However, he made no reference to how the bank might adjust its own policy to the improving economic data across the euro zone, a highly debated issue among market participants.

 
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23.08.2017

Alliance Walmart-Google to challenge Amazon on voice shopping market

Google and Walmart on Tuesday announced a partnership that would make the retailer's products available on the internet giant's online shopping mall. The two companies said that next month Google would start offering Walmart products to people who shop on Google Express, the company’s online shopping mall. It’s the first time the world’s biggest retailer has made its products available online in the United States outside of its own website.

 
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