Month: January 2018

Aetna, which has agreed to be bought by CVS Health, reported a higher-than-expected quarterly profit on Tuesday, partly due to higher premium yields in the health insurer’s commercial and government businesses. U.S. drugstore operator CVS agreed in December to acquire Aetna for $69 billion, seeking to tackle soaring healthcare spending through lower-cost medical services in
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Experts warned that if growth were to disappoint again in the new financial year, it could create new political and economic pressure on Prime Minister Narendra Modi’s government ahead of 2019’s elections. Therefore, the government is expected spend enough to get the economy growing past 7 percent. So, market watchers will be paying close attention
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In the latest sign of tremendous interest in cryptocurrencies, more than 1 million people have joined the waitlist for Robinhood Crypto in just four days. No-fee stock trading app Robinhood announced Thursday it was rolling out commission-free trading in digital currencies bitcoin and ethereum beginning in February. Although the service will initially only be available
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Mario Gabelli says the animal spirits in the markets, awakened by tax reform and strong corporate profits, are creating a new wave of merger activity and opportunities for investors. The CEO of Gabelli Asset Management said Monday on CNBC’s “Halftime Report” that there will be a surge of merger activity as companies look to put
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Boeing is joining the global scramble for efficient batteries. The aerospace giant’s venture arm Boeing HorizonX Ventures has taken a minority stake in battery start-up Cuberg, Boeing said Monday. Cuberg joins Boeing HorizonX Ventures’ stable of investments that include Zunum Aero, an electric-and-hybrid plane startup whose investors also include airline JetBlue. The terms of the
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Apple shares are dropping Monday after a report that the company ordered a drastic cut in iPhone X production. Nikkei reported Monday that the tech giant told its suppliers to reduce iPhone X production to 20 million units for the first quarter from the more than 40 million units target Apple gave in November. The
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Brent Lewin | Bloomberg | Getty Images A Starbucks store in Shenzhen, China. Starbucks‘ strong growth in China will be overshadowed by slowing sales in the U.S., an analyst at Bernstein said Monday. “The business mix is clearly shifting toward China … just not fast enough to offset the US,” analyst Sara Senatore said in
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Who could have guessed all of the things that happened in 2017? Between major changes to the tax code, the market reaching all-time highs and geopolitical upheaval all over the world, the past year has been one of constant change. We’re all wondering what new surprises are in store for 2018. My take: Don’t worry
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Getty Images Workers pack and ship customer orders at the 750,000-square-foot Amazon fulfillment center in Romeoville, Illinois. Amazon will be able to compete against Google and Facebook in the internet ad business, according to one Wall Street firm. Citi Research reiterated its buy rating for Amazon shares, predicting strong growth for its internet advertising business.
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Graham Crouch | Bloomberg | Getty Images Nadiem Makarim, chief executive officer of Go-Jek. Google has made an investment in Indonesian ride-hailing start-up Go-Jek. The move is part of Google’s ambition to grow Indonesia’s digital economy and start-up scene, the tech giant said in a statement Monday. “Go-Jek is led by a strong Indonesian management
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In the November crackdown, the Saudi government arrested and detained several hundred businessmen, senior officials and Saudi royals like Alwaleed, many within the Ritz-Carlton hotel. Multiple reports, citing anonymous sources, have suggested that detainees handed over assets in order to buy their freedom. Alwaleed, the billionaire owner of international investment company Kingdom Holding, told Reuters
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