Month: July 2017

On Thursday, Amazon revealed that growth of its public cloud business had slowed to the lowest point in at least three years in the second quarter: Amazon Web Services revenue, at $4.1 billion, was up 42 percent year over year. Competitors might have taken a moment to cheer immediately after the Amazon earnings release. But
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Mexico’s currency was under pressure for the latter part of the U.S. presidential election and throughout the first couple of months following President Donald Trump’s victory. Trump campaigned on a tough trade stance, pushing for the renegotiation of the North American Free Trade Agreement. Investors were dumping the peso as they weighed the possibility of
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Jeff Bezos’ wealth has been on a wild roller-coaster ride over the past 24 hours. Thursday morning, the Amazon CEO became the richest man in the world when Amazon’s stock soared on earnings expectations. By noon, when Amazon stock topped $1,082 per share, Bezos’ wealth soared past $92 billion, putting him past Bill Gates. But
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Sharif’s ousting will weaken PML-N’s chances of winning the election in 2018. The party is Pakistan’s most investment-friendly and pro-business party, according to Ali. “Since it came to power in 2013, Pakistan’s key economic indicators have gradually improved due to better economic management while foreign investment has slowly picked up”, Ali said. Pakistan’s all-share stock
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Of course, Bezos avoids talking publicly about his wealth. Like most tech tycoons, he insists he’s trying to change the world rather than get rich. In his commencement speech at Princeton, Bezos said he had the idea of selling books on the internet while he was working at a New York hedge fund. Torn between
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Michael Nagle | Bloomberg | Getty Images Traders pass in front of an American flag displayed outside of the New York Stock Exchange in New York. Strong second-quarter earnings, along with falling rates and a weak dollar, will continue to drive stocks higher, according to Jefferies, which raised its year-end price forecast for the S&P
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Shares of Raytheon jumped to an all-time high of $170.74 in midday trading Thursday after the company said it was getting a boost from President Donald Trump. “We have an administration now that is significantly supporting international work for the domestic U.S. industry and that has opened several doors for us,” CEO Tom Kennedy said
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Robert Shiller is well-known for his views on valuation, volatility, dividends and bubbles. But when asked what currently worries him most, the Yale professor of economics turned to another subject entirely. “A theme that I have been coming back to is that the big worry that’s on people’s minds — I don’t know how active
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Whirlpool‘s stock was falling nearly 7 percent Thursday morning a day after the appliance manufacturer delivered earnings and sales for the second quarter that missed Street estimates. On a call with analysts and investors Thursday morning, the clear elephant in the room was quickly mentioned — Sears recently signing a deal to sell Kenmore appliances
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President Donald Trump‘s choice to oversee the national banking system indicated Thursday that it’s likely time to roll back some of the regulations put in place after the financial crisis. That didn’t sit well with some of the people who will have to vote on his nomination. Randal Quarles, nominated to be the Federal Reserve’s
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Compared to fellow billionaires like Gates and Warren Buffett, Bezos’ charitable contributions have been relatively limited. Bezos recently gave $35 million to Seattle’s Fred Hutchinson Cancer Research Center, reports The New York Times. And in May, Bezos gave $1 million to the Reporters Committee for Freedom of the Press. According to Weath-X, in 2015 the
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Shares of Southwest Airlines were hit hard in early Thursday trading before recovering slightly. Investors were expressing concern over slower unit revenue growth. Despite reporting better-than-expected quarterly earnings and revenue Thursday, the stock was down more than 7 percent at one stage. Here’s what Southwest reported versus what Wall Street was expecting: Earnings per share:
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