Markets

Goldman Sachs: US-China trade war could lead to recession

Goldman Sachs: US-China trade war could lead to recession On Friday, Trump said that Washington was continuing trade talks with Beijing, but that the US was not going to make a deal for now, remarks which helped to drive a late sell-off in a volatile session that saw the Dow Jones Industrial Average fall 0.34 per cent, the S&P 500 lose 0.66 per cent and the Nasdaq Composite drop 1 per cent. [Full Article...]

Dow Plunges As Wall Street Reacts To Trade Doubt, US Economy Concerns

Dow Plunges As Wall Street Reacts To Trade Doubt, US Economy Concerns Bank of America Corp, Citigroup Inc, Goldman Sachs and Morgan Stanley fell almost 1.2% each in premarket trading, as lower bond yields hit shares of interest-rate sensitive lenders. China retail sales, industrial production and the jobless rate to be released on Wednesday. Thursday sees the release of USA jobless claims, industrial production and retail sales data. [Full Article...]

Food delivery app Deliveroo to stop serving Germany

Food delivery app Deliveroo to stop serving Germany The service is set to stop on August 16. However, the company has received several complaints from its riders who have said they are compensated lower than the German minimum wage, and do not receive necessary reimbursements for their work, such as bike repairs. [Full Article...]

Olive Garden announces new ‘Lifetime Pasta Pass,’ going on sale this week

Olive Garden announces new ‘Lifetime Pasta Pass,’ going on sale this week The Lifetime Pasta Passes - which are available to the first 50 people lucky enough to snag a Pasta Pass on August 15 - will entitle the lucky recipients to unlimited pasta, soup, salad and breadsticks for their entire lifetimes. ET on August 15, and they highly recommend visiting it when it opens if you want to snag one of the coveted passes. You can take part in the Never Ending Pasta Bowl pro... [Full Article...]

Elon Musk says he supports Andrew Yang for president in 2020

Elon Musk says he supports Andrew Yang for president in 2020 The CEO jokingly added that Yang would be the first "openly goth" United States president. Musk's tweet in support of Yang has already gathered over 15,000 retweets and almost 80,000 likes. Tesla relies heavily on automation in its manufacturing process, though Musk has previously admitted to pushing the company towards automation too quickly. [Full Article...]

Burford Capital alleges ‘illegal market manipulation’

Burford Capital alleges ‘illegal market manipulation’ Burford shares fell 46 per cent on Wednesday after Muddy Waters , the research firm founded by Carson Block, published a 25-page report saying that Burford overstated the returns it earns on its investments and has questionable financial reporting and governance. [Full Article...]

BlackRock poised to become Authentic Brands' largest shareholder

BlackRock poised to become Authentic Brands' largest shareholder The fund and affiliated entities invested US$875 million, said Andre Bourbonnais, head of Long-Term Private Capital. Authentic acquired Volcom in April, increasing the company's annual retail value to more than $9.3 billion. The New York-based money manager was seeking to raise up to US$12 billion. Authentic Brands, founded in 2010, develops and markets brands in sectors including entertainmen... [Full Article...]

Global shares decline as trade war worries worsen

Global shares decline as trade war worries worsen Investors have been encouraged by hopes global central banks will keep interest rates low or cut them further to shore up economic growth. But they continue to worry that U.S. Markets in Taiwan and New Zealand declined. Trading activity was relatively muted with some regional markets, including Japan, Singapore and India, closed for holidays on Monday. [Full Article...]


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