Investing

International Monetary Fund chief economist Gita Gopinath speaks during a press conference in Washington D.C., on April 9, 2019. Liu Jie | Xinhua News Agency | Getty Images The outlook for the global economy keeps getting bleaker, the chief economist at the International Monetary Fund said Friday. “As the year is progressing, it’s getting harder
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In this photo illustration, a visual representation of a cryptocurrency sits on display in front of a Facebook logo. Chesnot | Getty Images Some original investors in Facebook’s digital currency project are considering leaving, the Financial Times reported Friday. Two Libra founders told the Financial Times they were worried about the regulatory spotlight that the
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Traders work on the floor of the New York Stock Exchange. Brendan McDermid | Reuters Arturo Estrella, the economist who first discovered the predictive power of the yield curve, has a message for recession naysayers: It could hit sooner than you think. “It’s been 50 years and 7 recessions with a perfect record,” Estrella told
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Philadelphia Fed President Patrick Harker said Thursday that while he reluctantly supported the central bank’s rate cut in July, he doesn’t see the case for additional stimulus. “We’re roughly where neutral is. It’s hard to know exactly where neutral is, but I think we’re roughly where neutral is right now. And I think we should
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Federal Reserve Chair Jerome Powell holds a news conference following the Federal Reserve’s two-day Federal Open Market Committee Meeting in Washington, July 31, 2019. Sarah Silbiger | Reuters Federal Reserve members worried over future growth are highly concerned about the U.S.-China tariff battle, citing the issue multiple times during discussions at the central bank’s July
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Former SEC Chairman Harvey Pitt on Monday questioned the motivation of Harry Markopolos, the Bernie Madoff whistleblower who unveiled a long list of allegations against General Electric last week in an investigation for a short seller. “One of the ways you can test Markopolos’ bonafides, however, is the fact that the SEC has a whistleblower
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General Electric shares fell more than 11% Thursday after Madoff whistleblower Harry Markopolos targeted the conglomerate in a new report, accusing it of issuing fraudulent financial statements to hide the extent of its problems. A website has been set up to disseminate the report, www.GEfraud.com, where Markopolos calls it “a bigger fraud than Enron.” The
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The allegations by Madoff whistleblower Harry Markopolos of a $38 billion fraud at General Electric are “at best disingenuous” and “at worst highly inaccurate,” according to Nick Heymann, co-group head of global industrial infrastructure at the William Blair financial services firm. “You got the stock on sale yesterday for absolutely no basis. This is why
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President Donald Trump held a conference call with the CEOs of the three biggest U.S. banks as the stock market plunged Wednesday. Trump held the call with J.P. Morgan Chase CEO Jamie Dimon, Bank of America‘s Brian Moynihan and Citigroup‘s Michael Corbat, according to people with knowledge of the situation. The Dow plunged 800 points, or 3%, in
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The General Electric Co. logo is seen on the company’s corporate headquarters building in Boston, Massachusetts, U.S. July 23, 2019 Alwyn Scott | Reuters Enron whistleblower Harry Markopolos released a report on General Electric on Thursday alleging the company is hiding financial problems. Before the report was made public, GE said, in a statement, “we
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Warren Buffett Bloomberg | Getty Warren Buffett’s Berkshire Hathaway has been loading up on shares of Amazon. Berkshire upped its stake in the e-commerce giant by 11%, the Omaha, Nebraska-based holding company revealed in a government filing Wednesday. Berkshire now owns 537,300 shares of Amazon, worth $947 million. The holdings are as of the end
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Traders work on the floor at the New York Stock Exchange. Brendan McDermid | Reuters A trade organization that oversees the dissemination of trades at the NYSE said Monday’s trading glitch was due to a “network component failure” at the the exchange’s data center in Mahwah, New Jersey. The Consolidated Tape Association (CTA) said the
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Panoramic Images | Getty Images Many global investors are turning toward Silicon Valley instead of Wall Street in search of returns. The total invested in private markets hit all-time highs last year and continues to break multi-decade records this year. In the first half of the year, total investments in venture capital hit a 19-year
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The Roku IPO at the Nasdaq, September 28, 2017. Source: Nasdaq Here are the biggest calls on Wall Street on Monday: Needham raised its price target on Roku to $150 from $120 Needham said Roku’s “value proposition” among advertisers is “growing.” “Key take-aways from this report include: a) given similar valuations, we prefer Roku to
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Getty Images Investment giant BlackRock just became the largest stakeholder of Sports Illustrated’s parent company. BlackRock bought roughly a 30% stake in Authentic Brands Group for $875 million, the company’s chief executive officer Jamie Salter CNBC’s Brian Sullivan in a phone interview on Sunday. The deal values the brand management company around $4 billion to
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