Finance

Shares of SoftBank Corp began trading on Wednesday in Japan’s biggest-ever IPO and one of the world’s largest with shares opening 6.40 percent lower. The company is the mobile unit of billionaire Masayoshi Son’s SoftBank Group holding company, which includes U.S. telecoms company Sprint. The group also holds significant stakes in Yahoo Japan and Chinese
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Chinese President Xi Jinping addressed his nation Tuesday morning in Beijing to commemorate the 40th anniversary of China’s “reform and opening up,” striking a relatively defiant tone to international calls for major changes in his country’s economy. His remarks are being watched to see whether Xi’s idea of progress aligns with the West’s increasingly vocal
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Ron Paul is warning this year’s corrections could be a precursor to an epic market collapse that may come sooner than investors think. According to the former Republican presidential candidate, Wall Street is becoming more vulnerable to near-depression conditions within the next 12 months. “Once this volatility shows that we’re not going to resume the
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Wall Street angst over a possible recession may be increasing, but one bull refuses to waver. Federated Investors’ Steve Chiavarone believes there’s nothing on the horizon that suggests the 2018 market corrections will become a massive downturn next year. Rather, he sees stocks hitting fresh record highs — citing labor market trends, inflation levels, the
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Financial technology startup Robinhood is re-launching a new savings account plan that came under withering scrutiny from regulators, and drew accusations about potentially misleading investors. In a blog post released Friday, Robinhood’s founders acknowledged that its new plan, which aimed to offer no-fee checking and savings accounts with no minimums, ATM fees, penalty charges or
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The plunge in Johnson & Johnson‘s stock price following a report suggesting the company knew about asbestos in its baby powder is overdone and “excessive,” Wells Fargo told clients Friday. Wells Fargo, which said it still believes JNJ’s stock will outperform despite the allegation, said the selling based purely on the outcomes of any talc
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Traders from across the U.S. are banding together to accuse J. P. Morgan Chase of manipulating precious metals markets for years. At least six lawsuits, all making similar allegations against the nation’s largest bank, have been filed in New York federal court in the past month, since federal prosecutors in Connecticut unveiled a plea agreement
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Check out the companies making headlines after the bell: Tailored Brands shares fell more than 25 percent after market-close as the retail company missed revenue expectations. The company owns brands such as Men’s Wearhouse and Joseph A. Bank. The company reported $813 million in revenue, missing projections of $820 million. However, it beat earnings, reporting
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Alan Blinder, who served as Federal Reserve vice chairman during the Clinton administration, on Wednesday criticized President Donald Trump‘s latest prodding of the central bank not to increase interest rates anymore. Trump told Reuters Tuesday that it would be “foolish” for the Fed to hike rates next week. Asked Wednesday if the president is right,
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Check out the companies making headlines after the bell: American Eagle shares fell more than 6 percent after the market-close Tuesday. The clothing brand missed revenue estimates revenue, reporting $1 billion while analysts expected $1.02 billion. It met earnings projections at 48 cents a share. It also reported 8 percent growth in comparative sales, while
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The ban of some Apple iPhones in China shows that intellectual property rights are still determined by national borders. Qualcomm announced Monday that a court in China — the Fuzhou Intermediate People’s Court — had granted the chipmaker’s request for two preliminary injunctions against four of Apple’s Chinese subsidiaries for patent infringement. The two patents
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Russell Investments’ Doug Gordon is optimistic stocks will find a floor — just not until next year. Gordon, a senior portfolio manager on the firm’s technical asset allocation strategies team, blames uncertainty surrounding the U.S.-China trade war and Federal Reserve policy for the violent market swings. “The first and fundamental question: Is this a correction
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Billionaire investor Leon Cooperman says the recent turbulence in stocks is just part of a market correction as there are currently no signs of a recession happening. “There’s no sign of a trend change,” Cooperman, the founder of Omega Advisors, told CNBC’s “Halftime Report” on Thursday. “You’re just responding to the market.” “I could be
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Security start-up Pindrop has raised $90 million from investors including Vitruvian Partners and Goldman Sachs. The seven-year-old firm, which uses artificial intelligence (AI) technology to detect fraudulent phone calls, said Wednesday that it would use the latest funding to boost its European expansion plans. Vitruvian, a European private equity firm that has invested in the
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