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Rick Madonik | Toronto Star | Getty Images Saks Fifth Avenue is poised to open in Toronto as the company takes over the former Hudson Bay Company flagship store at Queen Street and Yonge Street in downtown Toronto. An entity controlled by Hudson’s Bay Chairman Richard Baker will buy the …
Read More »Monthly Archives: January 2019
Goldman Sachs boosts rates on Marcus accounts as banks fight for deposits
Christopher Goodney | Bloomberg | Getty Images Employees work on the Marcus by Goldman Sachs Group Inc. floor of the bank’s headquarters in New York, U.S., on Tuesday, Nov. 22, 2016. The stock market may be tanking lately, but at least savers are getting paid more to park their money. …
Read More »Bank of America upgrades Intel, says it will outperform large-cap peers in 2019
Justin Sullivan | Getty Images The Intel logo is displayed outside of the Intel headquarters in Santa Clara, Calif. Bank of America upgraded Intel to buy from neutral on Friday, saying the chipmaker is slated to outperform its large-cap peers in 2019. “Trading at just 10 times price to earnings, …
Read More »Tesla to start delivering Model 3 to China buyers in March
Stephen Lam | Reuters A parking lot of predominantly new Tesla Model 3 electric vehicles is seen in Richmond, California, U.S. June 22, 2018. Tesla said on Friday it plans to start delivering Model 3 cars to customers in China in March, cementing a time frame that the U.S. electric …
Read More »Apple must respect local court order
Wang Zhao | AFP | Getty Images A man is reflected on a screen showing the iPhone XR at an Apple store in Beijing on January 3, 2019. A national Chinese anti-counterfeit alliance called on Apple on Thursday to comply with a court order banning sales of some iPhones in …
Read More »Southwest Airlines founder Herbert Kelleher dies at age 87
Pam Francis | Getty Images Herb Kelleher, Southwest Airlines co-founder and former CEO Southwest Airlines founder and chairman emeritus Herbert D. Kelleher passed away on Thursday at the age of 87, the company announced. “Herb was a pioneer, a maverick, and an innovator,” the company said in a statement. “His …
Read More »Apple’s woes show US and China are both taking hits in trade war
The Dow closed Thursday down 2.8 percent, or 660.02 points, at 22,686.22. “You look at things like the new orders data, which has been trending lower not just in the U.S. but globally. That is reflecting weaker growth expectations by manufacturers in the U.S. and part of those are attributed …
Read More »Another hedge fund all star struggled last year with Dan Loeb down 11%
Jacob Kepler | Bloomberg | Getty Images Daniel Loeb, founder and chief executive officer of Third Point LLC Activist hedge fund manager Dan Loeb is another all star that struggled big time in 2018. His firm Third Point lost about 6 percent in December alone, bringing its yearly loss to …
Read More »Apple has a core challenge, and it’s not China, says Toni Sacconaghi
John Gress | Reuters Tim Cook, Chief Executive Officer of Apple Inc., takes a selfie with a customer and her iPhone as he visits the Apple Store in Chicago, Illinois, U.S., March 27, 2018. In an interview with CNBC’s Josh Lipton on Wednesday, Cook said, “Our shortfall is over 100 …
Read More »Apple’s China warning is another example of Trump impact on tech
Chip Somodevilla | Getty Images Apple CEO Tim Cook with U.S. President Donald Trump during a meeting of the American Technology Council on June 19, 2017. Apple’s lowered revenue outlook is more than just the latest bad headline out of Silicon Valley — it’s another example of President Donald Trump’s …
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