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Archive for the ‘Entrepreneur’ Category

Wall Street fall as earnings disappoint

28 Apr

A trader wears an Iron Man mask on the floor of the New York Stock Exchange on the day that cast members of the film Avengers: Age of Ultron will visit the exchange in New YorkInvestors were also awaiting the results of a two-day Federal Reserve meeting that ends on Wednesday for clues on when the central bank will hike interest rates. Apple hit a record high before falling as much as 1.7 percent to $130.33 despite beating Wall Street’s revenue and profit forecasts. Up to Monday’s close, Apple’s stock had risen about 62 percent in the past 12 months. The company also reported better-than-expected quarterly sales and earnings.

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Wall Street opens up, Nasdaq closer to record ahead of Apple earnings

27 Apr

A Wall Street sign is pictured in front of the New York Stock Exchange, open during Winter Storm Juno, in the Manhattan borough of New YorkInvestors this week will also be closely watching the results of the two-day U.S. Federal Reserve meeting, starting Tuesday, for clues on when interest rates could be hiked. “So far, both the economic data and earnings data has been weaker-than-expected and so that means that an imminent rate hike is most likely off the table,” said Adam Sarhan, chief executive of Sarhan Capital in New York. The Nasdaq hit a intraday high of 5119.828, the closest it has reached to its record high of 5132.52, hit in March 2000. Both the Nasdaq and the S&P 500 closed at a record highs on Friday after strong results from tech giants.

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If Greece falls, no one wants their prints on the murder weapon

26 Apr

A European Union flag and a Greek national flag flutter atop a building in central AthensThe game of chicken between Greece and its international creditors is turning into a vicious blame game as Athens lurches closer to bankruptcy with no cash-for-reform agreement in sight. Europe’s political leaders and central bankers and Greek politicians agree on only one thing: if Greece goes down, they don’t want their fingerprints on the murder weapon. If Athens runs out of cash and defaults in the coming weeks, as seems increasingly possible, no one wants to be accused of having pushed it over the edge or failed to try to save it. Greece’s leftist government has already identified its culprit of choice – Germany, Europe’s main paymaster, accused of having inflicted toxic austerity policies on Greeks, causing a “humanitarian crisis”.

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Deutsche faces tough task paring back retail, investment banking

25 Apr

A Deutche Post sign stands in front of the Bonn Post Tower in BonnDeutsche Bank faces a long and costly battle, analysts say, to sell Postbank and pare investment banking, the new strategic goals it outlined late on Friday. Deutsche will face an especially difficult challenge in selling off Postbank without having to post losses. “We’re worried about jobs at Postbank,” Carsten Schneider, finance expert and deputy SPD parliamentary floor leader, told Reuters. Deutsche Bank has a social-political responsibility here that extends beyond its economic interests.” Postbank could fetch close to 3.6 billion euros ($3.9 billion) if it sells for a multiple of 0.8 times a book value of 4.5 billion euros, according to analysts’ calculations.

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Germany hints at preparations of a Plan B on Greece

25 Apr

Minister of Finance of Germany Schaeuble attends Eurogroup tour-de-table during informal meeting of Ministers for Economic and Financial Affairs in RigaBy Tom Körkemeier RIGA (Reuters) – German Finance Minister Wolfgang Schaeuble hinted on Saturday that Berlin was preparing for a possible Greek default, drawing a parallel with the secrecy of German reunification plans in 1989. At a briefing with reporters after a tense meeting of euro zone finance ministers on Greece on Friday, Schaeuble was asked if euro zone finance ministers were working on a “Plan B” in case negotiations on funding with cash-strapped Athens fail. To explain his position, he drew a parallel with the secrecy that was necessary during the initial stage of planning for German reunification in 1989. The finance minister of Slovenia suggested at that meeting that because the talks, that have been going on for three months, were leading nowhere, perhaps euro zone ministers should starting discussing a Plan B — what happens if Greece defaults.

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Wall Street opens up, Nasdaq set to extend record

24 Apr

Traders work on the floor of the New York Stock ExchangeWall Street opened up on Friday as strong results from tech behemoths Google, Amazon and Microsoft set the Nasdaq Composite on track to extend its record close set the previous session. Amazon shares soared as much as 15.6 percent to a lifetime high of $451 after the e-commerce company’s revenue came in above estimates on Thursday. Google gained 2.8 percent to $573.15 after reporting higher quarterly revenue and profit and Microsoft added 6.6 percent to $46.22 after it topped Wall Street estimates.

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Wall Street flat as energy offsets weak data, earnings

23 Apr

Traders works on the floor of the New York Stock Exchange(Reuters) – U.S. stocks were little changed on Thursday as soft U.S., European and Chinese data, alongside disappointing earnings forecasts, were offset by gains in energy stocks as oil futures rose.

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U.S. jobless claims edge up; trend signals firmer labor market

23 Apr

Jessica Kolber shakes hands with a job seeker at a job fair in Burbank, Los AngelesThe number of Americans filing new claims for jobless benefits rose last week for a third straight week, but the underlying trend continued to point to solid improvement in the labor market. Growth braked sharply early this year as the economy was slammed by harsh winter weather, weak global demand and a now-settled labor dispute at West Coast ports. Initial claims for state unemployment benefits increased 1,000 to a seasonally adjusted 295,000 for the week ended April 18, the Labor Department said. “Whatever hiccup that may have occurred in the labor market in late February, the claims data suggest it has passed and claims have reverted to showing a very low level of layoffs,” said John Ryding, chief economist at RDQ Economics in New York.

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Wall Street slips on mixed bag of earnings

22 Apr

Traders work on the floor of the New York Stock ExchangeOf the S&P 500 companies that have reported so far this earnings season, 71.9 percent posted earnings above analyst expectations. McDonald’s rose 4.3 percent to $98.97 despite a revenue drop, while Coca-Cola rose 0.9 percent to $41.15 after it reported a rise in revenue for the first time in nine quarters. At 10:25 a.m. EDT the Dow Jones industrial average was down 30 points, or 0.17 percent, at 17,919.59, the S&P 500 was down 2.51 points, or 0.12 percent, at 2,094.78 and the Nasdaq Composite was down 13.96 points, or 0.28 percent, at 5,000.14.

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Silicon Valley’s Water Conservation Conundrum

21 Apr

Entrepreneurs, daunted by the long development cycle of clean tech, seem more interested in new markets than in solving existing problems.

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