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Alibaba shares are at an all-time low — and people are asking questions about fake customers (BABA, YHOO)

Alibaba shares are at an all-time low.  On Tuesday, shares of the Chinese e-commerce giant were down more than 2.5% to trade below $82 for the first time since the company went public in September.  Since hitting their all-time highs in...



Best Buy Co Inc Profit Surges, Share Buybacks Resumed

Best Buy unveiled a better-than-expected surge in profits in its holiday quarter today, though its revenues dropped slightly short of estimates. The consumer electronics retailer also announced plans to buy back shares for the first time since...



Morning News: March 3, 2015

European Stocks Gain as German Retail Sales Rise Draghi’s QE Moves to Starting Line as Outlook Brightens CNPC Employee Lambastes China’s Pollution Documentary, Says Its Producer Doesn’t Have Brainpower Nasdaq Math: 5000...



Steve Wynn and his ex-wife are fighting over her seat on the Wynn Resorts board

Steve Wynn won't renominate his ex-wife, longtime shareholder and former director Elaine Wynn, to the Wynn Resorts board next month, and she's not taking the news well. In a letter written last month, Elaine Wynn told the board she would...



What is a California beach town willing to pay to avoid oil drilling?

Numbers. I can't resist: On Tuesday, the residents of Hermosa Beach are going to vote yet again on an oil and gas drilling initiative — whether to allow a contract with the energy company E&B Natural Resources Management to proceed...



Citigroup Sells OneMain To Springleaf For $4.25 Billion

Citigroup has struck a deal to sell its subprime lender OneMain Financial to Springleaf, the U.S. consumer lender, for $4.25 billion in cash, finally putting an end to the New York bank’s long-running effort to sell the unit. The deal will make the...



George Carlin (2) vs. Barbara Kruger

To decide yesterday‘s contest, I’ll have to point to Jeremy’s comment: Rembrandt in a walk: -He believes that “God is in every leaf on every tree”. Most of his greatest paintings are portraits of himself or...



Druckenmiller: This Is The Ideal Time For The Fed To Raise Rates

Stanley Druckenmiller said it would be great if the Federal Reserve acts now in raising the interest rates, during an interview with Kelly Evans on CNBC’s Closing Bell on Monday. During the interview, Druckenmiller said, “I think the...



Bernanke Says Fed Already Follows Policy Rule

Former Federal Reserve Chairman said Monday Republican efforts to force the central bank to adopt an official policy rule to conduct interest policy are redundant because the Fed already sets out clear benchmarks for its interest rate actions. “The...



Fed Watch: Does The Fed Have a Currency Problem?

Tim Duy: Does The Fed Have a Currency Problem?, by Tim Duy: The PCE inflation data was released today, and I have been seeing commentary on the relative strength of the core-inflation numbers. This, for example, from the Wall Street Journal: A key...



Nasdaq 5000: Wait for it . . .

Stocks are rising a bit in early trading Monday as the Nasdaq shortens its distance from...



Warren Buffett: Elizabeth Warren should be 'less angry'

Berkshire Hathaway CEO Warren Buffett isn't a fan of Sen. Elizabeth Warren's (D-Massachusetts) populist style. In a Monday interview on CNBC's "Squawk Box," Buffett argued that Warren should be "less angry and...



Paul Krugman Needs a T-Shirt

Paul Krugman is frustrated (my bold):In my own case, I’d guess that about 80 percent of what I’ve had to say about macroeconomics since the crisis was prefigured in my 1998 liquidity trap paper, which was classic MIT style — a stylized...



Morning News: March 2, 2015

Eurozone Consumer Prices Fall Again; Jobless Rate Hits Lowest Level Since 2012 European Stocks Firm After China Rate Cut U.K. Manufacturing Growth Accelerates to Fastest in Seven Months Mihail Fridman Says UK Threat to Block North Sea Deal ‘Not...



A Florida couple recorded their vows into the Bitcoin blockchain in the first 'Bitmarriage'

“A diamond is forever, a marriage is forever, but when was the last time anyone looked at their wedding vows?” Entrepreneur David Mondrus posed that question to the New York Times in explaining why he and his wife, Joyce...



Lumber Liquidators (LL) Halted After ’60 Minutes’ Report

Lumber Liquidators shares plummeted after 60 Minutes aired a report stating that the company’s floors failed safety tests in California. This morning the company’s shares were halted for a time pending the release of news. By the...



Wells Fargo is really worried about the auto loan market

Wells Fargo is putting a cap on potentially risky auto loans, The New York Times' Michael Corkery and Jessica Silver-Greenberg reported. The move could help to cool down what's currently a red hot market. One of the largest auto lenders in the...



Net Neutering and Innovation -- Would Google Even Exist Under These New Rules?

From Gordon Crovitz at the WSJ  FCC Chairman Tom Wheeler justified Obamanet by saying the Internet is “simply too important to be left without rules and without a referee.” He got it backward: Light-handed regulation made today’s...



Buffett's Successor: A Jain and Abel Story

Ajit Jain, who runs Berkshire Hathaway’s reinsurance business, and Greg Abel, who runs the conglomerate’s energy business, have emerged as favorites to succeed Warren Buffett as...



The Strange Urge to Raise Rates

Obsessions, beyond the usual...



Finally, a Raise

American works are finally getting something they haven’t had in a long time — a raise. Here’s CNBC’s Alex Rosenberg: After years of seeing salaries stagnate, U.S. earners are finally starting to make slightly...



'What is the New Normal for the Real Interest Rate?'

Jim Hamilton: What is the new normal for the real interest rate?: The yield on a 10-year Treasury inflation protected security was negative through much of 2012 and 2013, and remains today below 0.25%. Have we entered a new era in which a real rate near...



Buddha (3) vs. John Updike

Yesterday‘s winner is Friedrich Nietzsche. I don’t really have much to say here: there was lots of enthusiasm about the philosopher and none at all for the cozy comedian. Maybe Jonathan Miller would’ve been a better...



Economic View: A Slippery New Rule for Gauging Fiscal Policy

The adoption of dynamic scoring for evaluating major changes in tax and spending policy makes sense in theory, but could create havoc in...



Wages Rise at Restaurants as Labor Market Tightens

Wage growth is breaking out in an unexpected corner of the U.S. economy: the nation’s restaurants and bars. Food-service employment has surged since the recession ended six years...



Breaking News, Page 1

Older >

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Steve Wynn and his ex-wife are fighting over her seat on the Wynn Resorts board

Steve Wynn won't renominate his ex-wife, longtime shareholder and former director Elaine Wynn, to the Wynn Resorts board next month, and she's not taking the news well. In a letter written last month, Elaine Wynn told the board she would...



George Carlin (2) vs. Barbara Kruger

To decide yesterday‘s contest, I’ll have to point to Jeremy’s comment: Rembrandt in a walk: -He believes that “God is in every leaf on every tree”. Most of his greatest paintings are portraits of himself or...



Net Neutering and Innovation -- Would Google Even Exist Under These New Rules?

From Gordon Crovitz at the WSJ  FCC Chairman Tom Wheeler justified Obamanet by saying the Internet is “simply too important to be left without rules and without a referee.” He got it backward: Light-handed regulation made today’s...



Best Buy Co Inc Profit Surges, Share Buybacks Resumed

Best Buy unveiled a better-than-expected surge in profits in its holiday quarter today, though its revenues dropped slightly short of estimates. The consumer electronics retailer also announced plans to buy back shares for the first time since...



Alibaba shares are at an all-time low — and people are asking questions about fake customers (BABA, YHOO)

Alibaba shares are at an all-time low.  On Tuesday, shares of the Chinese e-commerce giant were down more than 2.5% to trade below $82 for the first time since the company went public in September.  Since hitting their all-time highs in...



Fed Watch: Upbeat Jobs Report

Tim Duy: Upbeat Jobs Report, by Tim Duy: The January jobs report came in above expectations, with nonfarm payrolls growing by 257k and, more importantly, there were large upward revisions to the previous two months. Simply put rumors of the demise of...



LinkedIn stock up more than 6% on big earnings beat (LNKD)

LinkedIn reported its Q4 earnings Thursday afternoon, delivering a beat that sent the stock surging more than 6% after-hours.  The company reported revenues of $643 million versus Wall Street expectations of $617 million, and EPS of $0.61, which...



21-Day Term Deposits Offering Has Early Withdrawal Feature

On February 5, 2015, the Federal Reserve will conduct a floating-rate offering of term deposits with an early withdrawal feature through its Term Deposit Facility (TDF). Read...



UN Aware of Greek Derivatives Risk as Weekend Talk Roils Insiders

What is the most important issue not being addressed in public surrounding the Greek sovereign debt default issue? While some market participants think the Greek issue is something that is months away, a UBS research noted dated February 8 says that...



As Predicted, Employment Trends May Be Accelerating [CHART]

Employment Trends May Be Accelerating by Todd Sullivan, ValuePlays “Davidson” submits: The Establishment Survey rises by 257,000 and the Household by 759,000. All good! There were positive revisions to the Establishment Survey which has been...



The battle for second place in mobile pay



Rob Arnott Warns Of Peasants With “Pitchforks”

Rob Arnott, chief executive and co-founder of Research Affiliates LLC, sat down for an interview with Bloomberg Business earlier this week to share a few thoughts on the current state of the economy and the equity markets. Arnott did not pull any punches...



Everybody is piling into this one trade (USO, OIL, XLE)

Wall Street is betting big against energy companies. In a post on Wednesday, Bespoke Investment Group highlighted this chart, showing the short interest among stocks in the energy sector of the S&P 500.  Short interest indicates the...



Over at Project Syndicate: Making Do with More

Over at Project Syndicate: If we as a species can avoid nuclear war; curb those among us who are violent because they are God-maddened, state-maddened, or ethnicity-maddened; properly coordinate global action to reduce global warming from its current...



Key Premise Of Obamacare Lawsuit Contradicted By Email Senate Aide Sent In 2010

The premise of the latest legal attack on Obamacare has always been shaky. An email that a key Senate staffer wrote in January 2010 would appear to make it even shakier. Next month, the Supreme Court will hear oral arguments in King v. Burwell, a case...



Nasdaq 5000: Wait for it . . .

Stocks are rising a bit in early trading Monday as the Nasdaq shortens its distance from...



The Strange Urge to Raise Rates

Obsessions, beyond the usual...



Warren Buffett: Elizabeth Warren should be 'less angry'

Berkshire Hathaway CEO Warren Buffett isn't a fan of Sen. Elizabeth Warren's (D-Massachusetts) populist style. In a Monday interview on CNBC's "Squawk Box," Buffett argued that Warren should be "less angry and...



Judge in Batista’s Insider Trading Case Acknowledges Driving Seized Porsche

Lawyers for Eike Batista, once one of Brazil’s wealthiest men on trial for insider trading, have been trying to have the judge removed from the...



Buffett's Successor: A Jain and Abel Story

Ajit Jain, who runs Berkshire Hathaway’s reinsurance business, and Greg Abel, who runs the conglomerate’s energy business, have emerged as favorites to succeed Warren Buffett as...