Finance

Apple CEO Tim Cook partially blamed a slowdown in China when he cut guidance for the smartphone-maker — but the company’s troubles in the world’s second-largest economy began even before trade tensions escalated. China has been Apple’s “headache” for the last two years, said TuanAnh Nguyen, analyst at smartphone research company Canalys. The iPhone-maker’s business
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The Wall Street Journal reports Apple has lost nearly $9 billion this year buying back its own stock. Apple is one of those buyback monsters that has spent significant money to buy back their stock, not just this year but since 2013 Apple’s share count has declined from 6.5 billion shares to 4.5 billion —
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The past two weeks on Wall Street have been wild, and not in a good way. During that time, the major U.S. stock indexes have suffered losses that put them on track for their worst December performance since the Great Depression. Investors have also been gripped by volatile swings in the market as they grapple
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Investors should be careful as the recent spike in market volatility is far from normal, according to the manager of the California State Teachers’ Retirement System, which has more than $200 billion in assets. “The last few days have been abnormal volatility,” Christopher Ailman, chief investment officer at CalSTRS, told CNBC during a special aired
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The impact of Trump’s tariffs on China’s economy has mostly only been psychological so far in the ongoing trade war, analysts say. That’s may be set to change next year, potentially denting Chinese growth. “With the tariffs we haven’t seen the direct impact, but we’ll see that next year,” said Tom Rafferty, principal economist for
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It was Wall Street that scared the markets as storied institutions failed during the financial crisis, and now as stocks fall into bear market territory, it’s Washington that’s getting the blame. Making matters worse, is that when financial markets are in trouble, market pros turn to Washington’s lawmakers and regulators for help, and now they
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President Donald Trump wants to fire Federal Reserve Chairman Jerome Powell for raising interest rates, according to a report, an unprecedented action by a president against the independent body that could undermine confidence in the U.S. financial system already under the strain of a vicious equity sell-off. Trump has discussed firing Powell privately because of
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President Donald Trump is adamantly opposed to the Federal Reserve’s rate hike campaign, but has never suggested firing Fed Chairman Jerome Powell, Treasury Secretary Steven Mnuchin said on Saturday, moving to defuse a controversy that could roil global markets even further. Late Friday, Bloomberg News, citing four unnamed sources, reported that Trump has discussed firing
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President Donald Trump‘s growing dissatisfaction with Federal Reserve Chairman Jerome Powell could be veering into dangerous territory: Late Friday, Bloomberg News, citing four unnamed sources, reported that Trump has discussed firing the central bank head. With the Fed embarked on a campaign to tighten monetary policy, the president has repeatedly attacked Powell, reportedly fearful that
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Square is making another attempt to break into banking. Approval of the plan would allow the payments company to operate without going through outside banks and intermediaries. If approved, Square would also get access to a coveted feature of the banking world — deposit insurance. San Francisco-based Square is well-known in the payments sector for
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