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Monthly Archives: March 2018

Bank of America cuts Facebook stock forecast for second time in 5 days

For the second time in five days, Bank of America Merrill Lynch reduced its price forecast on Facebook shares as the fallout from the data scandal worsens. The bank slashed its original forecast on Thursday. On Monday, the Federal Trade Commission confirmed it has an open nonpublic investigation into Facebook’s …

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Arizona governor suspends ability to test self-driving cars

Justin Sullivan | Getty Images An Uber self-driving car drives down 5th Street on March 28, 2017 in San Francisco, California. Cars in Uber’s self-driving cars are back on the roads after the program was temporarily halted following a crash in Tempe, Arizona on Friday. The governor of Arizona on …

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Seoul watches as North Korea’s Kim Jong Un reportedly visits Beijing

South Korean Presidential Blue House | Getty Images In this handout image provided by the South Korean Presidential Blue House, Chung Eui-Yong (R), head of the presidential National Security Office shakes hands with North Korean leader Kim Jong-Un (L) during their meeting on March 5, 2018 in Pyongyang, North Korea. …

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How sanctions can produce reforms in North Korea

KCNA | Reuters People participate in a Pyongyang city mass rally held at Kim Il Sung Square on August 9, 2017, to fully support the statement of the Democratic People’s Republic of Korea (DPRK) government. International sanctions on North Korea could produce structural reforms that boost long-term economic growth in …

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Deutsche Bank reportedly seeks to replace CEO with Goldman executive

Thomas Lohnes | Getty Images John Cryan, CEO of German bank Deutsche Bank, pictured during an interview after the press conference over the company’s 2017 preliminary financial results on February 2, 2018 in Frankfurt, Germany. Deutsche Bank is seeking to replace Chief Executive John Cryan amid an intensified boardroom row …

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Novartis CEO on potential Alcon decision at China Development Forum

Peter Frommenwiler | Bloomberg | Getty Images The logo of Alcon is seen on the company’s corporate headquarters in Huenenberg, Switzerland, on Monday, Jan. 4., 2010. Despite the eye care division returning to sales growth in 2017, Narasimhan maintained that holding off a decision until 2019 would be appropriate. “We …

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White House tries to Stormy Daniels focus to Trump lawyer, campaign

Leah Millis | Reuters Principal Deputy Press Secretary Raj Shah holds the daily press briefing at the White House in Washington, March 26, 2018. With the legal battle between adult film star Stormy Daniels and President Donald Trump showing no signs of a quick resolution, the White House on Monday …

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Traders are betting heavily against Tesla’s junk bonds

Investors are betting against Tesla’s bonds amid growing worries about the electric car maker’s ability to deliver on its production goals, given significant delays for the Model 3. “While equity short sellers continue to hang around, shorts in the most liquid TSLA bond have made a tidy profit so far …

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Saudi crown prince talks investments with Softbank chief in New York

Fayez Nureldine | AFP | Getty Images Saudi Crown Prince Mohammed bin Salman attends the Future Investment Initiative (FII) conference in Riyadh, on October 24, 2017. Saudi Arabia’s powerful crown prince is widely expected to drum up investment capital during the New York City leg of his U.S. visit, and …

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Shopify will plunge if Facebook takes its data ‘punch bowl’ away

Citron Research’s Andrew Left, who’s gained notoriety for successful bets against companies such as Valeant Pharmaceuticals, on Monday posted a new bearish report on Shopify. Shares of Shopify fell more than 4 percent after Left disparaged the relationship between Shopify and Facebook as an “unholy alliance,” based on the exchange …

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