Although tax cuts and regulatory rollbacks this year fueled small-business optimism to hit its highest level in decades, the latest CNBC|SurveyMonkey Small Business Survey, released Monday, reveals that small-business confidence is starting to cool. After hitting a record high in Q3, the Small Business Confidence index declined from 62 to […]
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Apple falls further into the red for 2018 after Citi slashes target: ‘Trade wars are bad for tech’
Apple shares fell in premarket trading Monday after Citi slashed its price target to $200 a share, saying “trade wars are bad for tech stocks.” The stock fell into the red for 2018 on Friday and is down 25 percent this quarter. “While we do not expect Apple to miss […]
Morning update: Stocks set to fall | Trump searches for new chief of staff | Musk: I don’t respect the SEC
U.S. stock futures were well off their overnight lows. But they’re still pointing to a decline at Monday’s open on Wall Street following the worst week for the Dow, S&P 500, and Nasdaq since late March. The Dow and S&P plunged about 4.5 percent each. The Nasdaq fell nearly 5 […]
FedEx is in trouble after management shake-up in the middle of its busiest season: Bank of America
Bank of America Merrill Lynch downgraded FedEx shares on Monday, citing the abrupt departure of the head of the company’s Express unit last week. “The company made a surprising change to its Express CEO, which we believe could signal a reduction or delay in its profit improvement target,” wrote analyst […]
Here’s what became of Bernie Madoff’s inner circle
Few people outside of Wall Street had heard of Bernard Madoff before he confessed to his epic fraud in 2008. In the decade since, he has become the personification of greed — and a household name. Madoff and his inner circle have been featured in books, movies, even an off-Broadway […]
Japan’s top three telcos to shun Huawei, ZTE network equipment: Kyodo
Japan’s big three telecom operators plan not to use current equipment and upcoming fifth-generation (5G) gear from China’s Huawei Technologies Co Ltd and ZTE Corp, Kyodo News reported on Monday. The news, for which Kyodo did not cite sources, comes at a time of heightened scrutiny of Chinese tech firms […]
British banks may have been used for illicit payments related to Huawei: Wall Street Journal
British banks Standard Chartered and HSBC were reportedly among financial institutions misled by Chinese technology giant Huawei into funneling illicit payments from Iran, The Wall Street Journal said on Sunday, citing sources familiar with the matter. According to the Journal, Huawei allegedly used a third-party intermediary — a small Hong […]
France’s Macron expected to promise change amid riots and ‘economic catastrophe’ — but is it too late?
French President Emmanuel Macron is due to address the country Monday evening amid ongoing violent protests that hit Paris and other French cities again at the weekend. Macron’s presidency is in crisis following weeks over high-profile and dramatic demonstrations by “yellow-vest” protesters that have caused havoc across France. The protests […]
Europe’s top court confirms that UK can stop Brexit
The European Court of Justice said Monday that the U.K. can cancel Brexit without asking for permission from other European Union (EU) member states. Sterling jumped to day’s high, up about 0.12 percent to $1.2758 on the back of the news. The decision followed the guidance given last week by […]
Tokyo prosecutors indict Nissan’s ex-chairman Ghosn for financial misconduct
Both Nissan and its former chairman Carlos Ghosn have been charged by Japanese prosecutors over financial misconduct, according to a statement from Nissan. Ghosn was arrested in November for under-reporting his compensation in the company’s financial statements over a period of five years. The auto giant said in a statement […]