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Monthly Archives: March 2018

Myspace co-founder Tom Anderson trolls Facebook

Gilles Mingasson | Getty Images MySpace co-founders Chris DeWolfe (left) and Tom Anderson (right) pose for photos in the Myspace headquarters in 2007. Myspace co-founder Tom Anderson, or “Myspace Tom” as he is best known, is taking full advantage of his early retirement. Anderson enjoys travel, photography, burning man — …

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Bitcoin falls 7% to below $8,000 after Twitter bans cryptocurrency ads

Bitcoin fell roughly 7 percent Monday to below $8,000 following weeks of regulatory uncertainty and advertising crackdowns by tech companies. The cryptocurrency was trading near $ 7,886 as of 3:04 p.m. ET Monday, more than $600 lower than a day earlier, according to data from Coinbase. It’s down more than …

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Mnuchin says he’s ‘hopeful’ US can reach deal with China to avoid trade war

Denis Balibouse | Reuters Steven Mnuchin, U.S. Secretary of the Treasury, attends the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 25, 2018. Treasury Secretary Steven Mnuchin is optimistic a trade agreement will be negotiated with China. Mnuchin was asked on “Fox News Sunday” whether announced tariffs on …

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Shares of cryptocurrency play Longfin drop after short seller Citron calls it a ‘pure stock scheme’

Shares of Longfin, which have spiked astronomically on ties to blockchain technology, fell Monday after a tweet from noted short-selling firm Citron Research. Longfin (Ticker: LFIN) shares briefly tumbled 13.5 percent and were trading 8.9 percent lower near $64.77 as of 11:13 a.m. ET. The tiny, little-known stock surged more …

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General Electric shares drop below $13 per share

Sebastien Bozon | AFP | Getty Images An employee of General Electric works on a gas turbine at the GE plant in Belfort, France. Shares of General Electric dropped below $13 in Monday trading. In the absence of positive news, the company’s stock fell as far as $12.86, the lowest …

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Raytheon and these other stocks could win if there’s a trade war with China

Simon Dawson | Bloomberg | Getty Images A model of a Raytheon Co. fighter jet is seen on display at a Farnborough International Airshow in Farnborough, U.K. Several companies will benefit relative to the broader market if a global trade war emerges, UBS told clients Monday. In light of President …

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South Africa economy chief hints at privatization, Moody’s upgrades

Zhai Jianlan | Xinhua | Getty Images Cyril Ramaphosa speaks during an event commemorating the third anniversary of former South African president Nelson Mandela’s death in Johannesburg, South Africa, on Dec. 5, 2016. A key figure in charge of South Africa’s economy has hinted at his appetite for privatizing the …

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Microsoft to surge nearly 50% to $1 trillion

Investors have been watching Amazon and Apple in the race to $1 trillion in market capitalization, but Morgan Stanley is betting on Microsoft to reach that milestone in the next 12 months thanks to cloud adoption. “Strong positioning for ramping public cloud adoption, large distribution channels and installed customer base, …

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Goldman Sachs expects gold to ‘outperform’ amid growing fears of a stock market correction

Leonhard Foeger | Reuters Gold bars at the Austrian Gold and Silver Separating Plant in Vienna, Austria, December 15, 2017. Goldman Sachs is expecting gold to “outperform” over the coming months. For the first time in more than five years, commodity analysts at the U.S. investment bank are bullish on …

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JP Morgan warns clients about owning tech stocks in the face of tariffs

Pricey technology stocks could come “under pressure” thanks to President Donald Trump’s tariffs on China, J.P. Morgan warned clients Monday. We have a “cautious stance on [the] tech sector, which has elaborate supply chains, is sensitive to consumer and corporate confidence, and where the adverse trade impact could be material,” …

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