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Monthly Archives: October 2018

Five crucial challenges for blockchain to overcome: Deloitte

Paul Ratje | The Washington Post | Getty Images A bitcoin mine near Kongyuxiang, Sichuan, China on August 12, 2016. Blockchain is similar to an accounting ledger, only it records transactions across a vast network and is decentralized, meaning it doesn’t require any central authority to oversee it. Advocates of …

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foreign house buyer tax sends UK real estate stocks tumbling

Christopher Furlong | Getty Images News | Getty Images British Prime Minister Theresa May attends day two of the annual Conservative Party Conference on October 1, 2018 in Birmingham, England. House builder stocks listed on the FTSE 100 shed value on Monday morning after the U.K. government announced plans to …

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It’s the first day for Goldman Sachs’ new CEO Solomon

Andrew Harrer | Bloomberg | Getty Images David Solomon, Goldman Sachs & Co. David Solomon officially steps into the CEO job at Goldman Sachs on Monday, marking the next generation of leadership in the bank’s 149-year history. The investment banker takes over after Lloyd Blankfein’s 12-year run at the helm, …

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Barclays downgrades Intel to sell, citing risk of a big price war with AMD

Justin Sullivan | Getty Images Intel employees walk by a sign as they enter their office in Santa Clara, California. Intel will either lose market share or be forced to cut its prices to compete with its resurgent competitor AMD, according to Barclays. The firm lowered its rating to underweight …

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Trump applauds Kanye West after SNL appearance

Andrew Kelly | Reuters President-elect Donald Trump and musician Kanye West pose for media at Trump Tower in Manhattan, New York City, U.S., December 13, 2016. Kanye West delivered a speech supportive of President Donald Trump during the season premiere of Saturday Night Live — who returned the favor on …

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GE removes Flannery as CEO, takes $23 billion charge for power

General Electric abruptly removed John Flannery as chairman and CEO on Monday and installed Lawrence Culp as his successor. At the same time, GE said it will take a $23 billion non-cash charge for its struggling power business. The industrial conglomerate said it “will fall short of previously indicated guidance …

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Tesla shares surge over 15 percent after SEC settlement 

David Paul Morris | Bloomberg | Getty Images Elon Musk, chairman and chief executive officer of Tesla Motors Tesla shares were up over 15 percent in pre-market trade on Monday after Chief Executive Elon Musk settled charges with the Securities and Exchange Commission (SEC). The SEC charged Tesla with fraud …

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Six months before Brexit, the UK government is attacking the EU  

Jeff J Mitchell | Getty Images News | Getty Images BIRMINGHAM, ENGLAND – SEPTEMBER 30: British Prime Minister Theresa May applauds as she sits in the audience during the annual Conservative Party Conference on September 30, 2018 in Birmingham, England.  Liam Fox, Trade secretary and an outspoken Brexit supporter, told …

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Elon Musk tells Tesla to ‘ignore distractions,’ hints at profitability

Beck Diefenbach | Reuters Elon Musk, CEO of Tesla.  Elon Musk believes Tesla is “very close” to turning a profit after years of burning through cash, but warned that Sunday would prove pivotal to the car marker achieving an “epic victory” on its production goals. On the heels of a …

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