Morgan Stanley chief investment officer Mike Wilson says the S&P 500 could fall to 4,000. Wilson expects a full inversion of the US yield curve and says investors should get more defensive. He says investors are underestimating the challenges to economic growth that lie ahead. Just when investors are getting comfortable again and stocks are … Read more
Apple is working to bring future fintech offerings in house, according to a Bloomberg report. The plan would result in Apple insourcing payment processing, risk assessment, and fraud analysis. Apple’s fintech partners traded lower following the report, including Goldman Sachs, Green Dot, and CoreCard. Loading Something is loading. Apple sees enough long-term potential in fintech … Read more
Summer Place (Image: Broll Auctions and Sales) Summer Place in Hyde Park, Johannesburg, is a renowned banqueting and conference venue. It was built for “oil baron” Marino Chiavelli in 1984 and ten years later sold to the Krok brothers for R12 million. On Wednesday morning, Summer Place sold at auction for R129 million. The 40,000m² … Read more
Loading Something is loading. Two men accused of storming the US Capitol on January 6, 2021, were arrested last week after their own post-riot Google searches incriminated them in the attack. Brian Raymond Jones and Patrick John King, of Mount Vernon, Washington, both face four charges related to their roles in the deadly insurrection, including … Read more
The FEC fined Hillary Clinton’s 2016 presidential campaign and the Democratic National Committee. The agency said Clinton and the DNC improperly reported money used to fund the Trump-Russia dossier. Political candidates and groups are legally required to disclose their spending to the FEC. Loading Something is loading. The Federal Election Commission earlier this month fined … Read more
The SEC added Baidu to a provisional list of firms that failed US audit requirements. If these firms continue to flow these requirements, they may be asked to delist in the US. Beijing has rejected US demands to look into the audit books of its US-listed firms. Loading Something is loading. The Securities and Exchange … Read more
Telecom Regulatory Authority of India’s (TRAI) telecom subscriber data for the month of January 2021 was another month of record subscriber loss for Mukesh Ambani’s Jio. The Ambani-led telco lost over 9 million subscribers, making it its third biggest subscriber loss so far. Airtel was the only telco to gain subscribers, although Vodafone Idea’s decline … Read more
Demand for air cargo rose 6.9% in 2021 compared to 2019, the International Air Transport Association estimates. Disruptions in ocean shipping is likely to keep demand for air freight up, analysts said. The trend is spurring airlines to convert a record number of passenger planes into freighters. Loading Something is loading. Nearly 90% of the … Read more
Boris Johnson outside 10 Downing Street in November 2020. Photo by Leon Neal/Getty Images Boris Johnson repeatedly refused to say whether Covid rules were broken during “partygate.” On Tuesday, the police said the first fines would be issued from its investigation of the parties. Johnson faces questions over whether he misled parliament – potentially a … Read more
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