Author: FC

Wynn shares tumble 10% on reports of ‘decades-long pattern of sexual misconduct’ by CEO Steve Wynn

Wynn Resorts stock plunged more than 10 percent Friday after The Wall Street Journal reported allegations that billionaire CEO Steve Wynn engaged in sexual misconduct over many years. The Journal said dozen current and former employees “told of behavior that cumulatively would amount to a decades-long pattern of sexual misconduct.” Some described being pressured into performing sex act...

Cryptocurrencies are becoming a hot target for hackers

In the last few weeks, hundreds of frantic people have called into McCann Investigations in Houston, Texas. Some have lost their cryptocurrencies. Others had them stolen. “There are a lot of vulnerabilities when you open a cryptocurrency account,” said Dorothy Flippov, a private investigator with McCann Investigations who specializes in cryptocurrencies. Wallet Recovery Services, which...

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Starbucks’ Howard Schultz: A ‘trusted’ digital currency is coming, but it won’t be bitcoin

“One or a few legitimate” cryptocurrencies are coming, but bitcoin is not one of them, according to Starbucks‘ executive chairman and former CEO, Howard Schultz. “I don’t believe that bitcoin is going to be a currency today or in the future,” Schultz said, during a post-earnings conference call Thursday after the closing bell on Wall Street. (Shares of Starbucks...

Staples is about to lose its CEO following Sycamore buyout

Staples’ Chief Executive Officer Shira Goodman is departing the company, The Wall Street Journal reported Friday morning, based on conversations with sources familiar with the matter. Goodman began leading the office supply retailer in 2016, shortly after Staples failed to merge with Office Depot. She previously had served as president of Staples’ North American operations and has serv...

Can the US rejoin TPP? Yes — with permission

Withdrawing from the 12-nation Trans-Pacific Partnership was one of President Donald Trump‘s first moves in office. The deal had been cast aside by Congress and had been, politically, left for dead. In an interview with CNBC in Davos on Thursday, Trump recast his expectations, saying he would considering rejoining if he were granted a “substantially better deal.” (No word on what...

Why fixing the Arab world’s education crisis is Queen Rania’s top priority

Urgent action needs to be taken to fix the education crisis afflicting the Arab region, Queen Rania Al Abdullah of Jordan told CNBC on Thursday. The Jordanian royal highlighted how over 15 million children in the region don’t go to school and that providing them with access to quality education could improve their lives. “Our region has had its fair share of headline-grabbing crises, b...

Dan Loeb is ‘closely watching’ these 4 key risks — including inflation — that can stop the rally

Third Point's Dan Loeb shares his key concerns for the market in a note to clients Monday.

An indicator with a perfect track record just sent a ‘powerful’ sell signal

The relentless gush of cash into the market is sending a powerful "sell" signal, according to a reliable Bank of America Merrill Lynch gauge.

Ray Dalio made $50 billion for his clients, topping list of biggest hedge fund moneymakers ever

Ray Dalio‘s Bridgewater Associates has the biggest cumulative net profit for a hedge fund firm ever, according to data from LCH Investments. Dalio’s firm led the list with a nearly $50 billion gain for its investors since inception through 2017, adding a $300 million profit in 2017 despite mediocre percentage returns. Bridgewater’s Pure Alpha fund returned 1.2 percent last year, ...

Investors rush into new ‘blockchain’ ETFs, pouring in $240 million in a single week

The cryptocurrency craze is finally flowing into the exchange-traded funds business. Investors poured about $240 million into two blockchain-focused ETFs since their launch last week, according to the latest available data from FactSet. Blockchain is the technology behind bitcoin and other cryptocurrencies. The surge of interest came even as bitcoin, the largest digital currency by market capitali...

AbbVie raises 2018 forecast, quarterly profit beats on strong Humira sales

AbbVie, the maker of the world’s best selling drug, reported fourth-quarter profit on Friday that beat Wall Street estimates on strong sales for its blockbuster drug Humira. Shares of the company rose 3.4 percent to $112 before the bell and were set to open at a record high after the U.S. drugmaker raised its 2018 earnings forecast on lower tax rates and expectations of higher operating perf...