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Major oil producing countries in the Middle East and its neighbors might benefit from higher crude prices in 2019, according to the latest outlook from International Monetary Fund (IMF), but there are numerous uncertainties in the region. The Fund’s latest regional economic outlook for the Middle East, North Africa, Afghanistan, and Pakistan (MENAP) region, published
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Gyrating markets, rising rates and significant market volatility will always create anxiety for investors and leave them with a bad, sinking feeling. Those big swings typically cause investors great concern, no matter the rise or fall. But what is the root of the anxiety? Behavioral science suggests that humans are “uncertainty reduction” machines. That’s one
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Apple and other big tech names need to recover for the overall stock market to rebound, CNBC’s Jim Cramer said Monday. “FAANG cannot keep rolling over,” Cramer said on “Fast Money: Halftime Report.” (FAANG, a term coined by Cramer, stands for Facebook, Apple, Amazon, Netflix, and Google-parent Alphabet.) The tech-heavy Nasdaq led Wall Street lower,
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Qualcomm beat analysts’ expectations for fourth-quarter revenue and profit on Wednesday, helped by demand from Chinese smartphone makers targeting emerging markets and a newer licensing model for its wireless technology that has soothed relations with some big customers. Shares of the company rose 1.5 percent in extended trading on Wednesday. Qualcomm is the world’s biggest
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Legacy tech companies have been scooping up smaller cloud and software providers in massive deals throughout 2018. The consolidation comes as older enterprise tech companies strive to stay relevant against the juggernaut of Amazon Web Services, as well as Google‘s well-funded cloud play and a rising crop of nimble venture-backed start-ups. On Sunday, SAP became
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Shares of Wynn Resorts dove 15 percent Thursday after the CEO said casino operator is seeing a “slowdown” at its Macau location, especially from high rollers. Though CEO Matthew Maddox said results were strong during China’s seven-day Golden Week holiday, attendance since then has been “choppy” during weekdays and “sporadic” on the weekends. “So what
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Chinese e-commerce giant Alibaba may have recorded its slowest ever annual growth rate for its Singles Day shopping extravaganza this year, but a large online retailer in Southeast Asia that is majority-owned by Alibaba said it witnessed accelerating growth during the event. Southeast Asia is at the “beginning of the journey” and still witnessing “accelerating
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Walt Disney reported fiscal fourth-quarter earnings and revenue that easily topped analysts’ expectations on Thursday. Here’s how the company did compared with what Wall Street expected: Earnings: $1.48 per share vs. $1.34 per share forecast by RefinitivRevenue: $14.31 billion vs. $13.73 billion forecast by Refinitiv In the year-ago quarter, Disney reported adjusted earnings of $1.07
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In October, the world’s longest flight made its maiden voyage, from Newark Liberty International Airport, landing at Changi Airport in Singapore nearly 19 hours later. The Airbus A350-900ULR — the long-range plane that Singapore Airlines is using for the flight — offers no economy class, only premium economy and business class that seats fewer than
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Daniel Loeb’s Third Point Capital added a new stake in American Express, according to an investor letter. American Express shares pared their losses following news of the stake from the activist hedge fund. “With shares trading at just 12.5X our 2019E EPS, and 11x 2020E EPS, we think markets underappreciate the strategic pivot occurring at
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Chinese e-commerce giant Alibaba promises that this year’s annual Singles’ Day this Sunday will be the “largest-ever in terms of scale and reach.” The holiday, which started as a day for unmarried Chinese to buy gifts for themselves, has become the biggest single shopping event in the world. Consumers bought a record $25.3 billion in
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Americans have, on average, more than three credit cards each. Many also have debit cards, flexible spending cards and other accounts that are all associated with a unique 16-digit number that enables transactions. Plus, most popular virtual payment methods now use so-called tokenization, which means that there are additional unique numbers tied to your account.
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Then-Goldman Sachs CEO Lloyd Blankfein attended a 2009 meeting with the Malaysian financier later accused of plundering billions of dollars from his country’s investment fund, according to a person with knowledge of the situation. Blankfein, who retired as CEO last month, is the unidentified Goldman executive who attended the 2009 meeting in New York referenced
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Dropbox shares rose more than 9 percent on Thursday after the maker of collaboration software reported better-than-expected third-quarter earnings. Here are the key numbers: Earnings: 11 cents per share, excluding certain items, vs. 6 cents per share as expected by analysts, according to Refinitiv. Revenue: $360.3 million, vs. $352.7 million as expected by analysts, according
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Residents affected by the three fires scorching parts of California have yet another ordeal to contend with: beginning the homeowners’ insurance claims process. Two of the blazes — the Hill Fire and the Woolsey Fire — ignited in southern California on Thursday, setting off evacuations, according to the Ventura County Fire Department. Meanwhile, the Camp
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