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Business / Business Education / Finance / Money / Personal Finance

Opening Bell: 2.14.18

Opening Bell: 2.14.18

Dow futures rise more than 100 points as traders wait for key inflation data [CNBC]
Last week, all three major U.S. indexes finished the five-day trading period more than 5 percent down each, with the Dow delivering its worst performance since January 2016. And concerns are expected to linger ahead of important data due Wednesday.
The government’s Consumer Price Index (CPI) data are scheduled to be released at 8:30 a.m. ET, and investors will be awaiting the release to see what this means for markets and the economy going forward. Consequently, markets in Asia were on edge Wednesday, as investors grew wary of the report, which could either ease or aggravate worries over rates.

Uber’s fourth-quarter loss narrows to $1.1 billion: source [Reuters]
The ride-hailing company’s quarterly revenue rose 11.8 percent to $2.2 billion from its previous quarter, the source said.
Uber has gone on to raise more than $14 billion in new funding and last month closed a deal with SoftBank Group Corp in which the Japanese conglomerate, along with other investors, took about a 17.5 percent stake in the company.
Silicon Valley-based Uber’s quarterly gross bookings rose 14 percent to $11.1 billion from the third quarter, the person said.

New Hedge-Fund Tax Dodge Triggers Wild Rush Back Into Delaware [Bloomberg]
Since late 2017, hedge fund managers have created numerous shell companies in the First State, corporate America’s favorite tax jurisdiction. These limited liability companies share a common goal: dodging new tax rules for carried-interest profits through a bit of deft legal paperwork.
Big names appear to be embracing the maneuver, which requires setting up LLCs for managers entitled to share carried-interest payouts. Four LLCs have been created under the name of Elliott Management Corp., the hedge-fund giant run by Paul Singer. More than 70 have been established under the names of executives at Starwood Capital Group Management, the private-equity shop headed by Barry Sternlicht.

Chipotle Takes a Page, and a C.E.O., From Taco Bell [NYT]
Brian Niccol, the chief executive of Taco Bell, will replace Chipotle’s founder, Steve Ells, as chief executive on March 5, Chipotle said on Tuesday. Mr. Niccol is tasked with replicating his success transforming Taco Bell from a fast food afterthought to a social media-savvy company with sleek new stores and the hugely popular Doritos Locos Tacos.
“His expertise in digital technologies, restaurant operations and branding make him a perfect fit for Chipotle as we seek to enhance our customer experience, drive sales growth and make our brand more relevant,” Mr. Ells said in a statement.

Insider trading has been rife on Wall Street, academics conclude [The Economist]
Insider trading prosecutions have netted plenty of small fry. But many grumble that the big fish swim off unharmed. That nagging fear has some new academic backing, from three studies. One argues that well-connected insiders profited even from the financial crisis.* The others go further still, suggesting the entire share-trading system is rigged.**
What is known about insider trading tends to come from prosecutions. But these require fortuitous tip-offs and extensive, expensive investigations, involving the examination of complex evidence from phone calls, e-mails or informants wired with recorders. The resulting haze of numbers may befuddle a jury unless they are leavened with a few spicy details—exotic code words, say, or (even better) suitcases filled with cash.

Bitcoin Sees Bull Reversal Ahead of Chinese New Year [Coindesk]
Bitcoin looks set to test the $10,000 mark soon, as per technical analysis, although some investors fear the Lunar New Year may play spoilsport.
Ahead of New Year holidays (starting Feb. 15), Chinese and South Koreans often exchange bitcoin for fiat currencies (to fund increased spending), and bitcoin (BTC) tends to drop in the run-up to the event.
Boosting such fears this year is bitcoin’s (BTC) recent inability to move above $9,000 in a convincing manner. Since Feb. 10, the cryptocurrency has been restricted to a narrow range of $8,000 to $9,000, shows CoinDesk’s Bitcoin Price Index (BPI).

‘Time-traveller from 2030’ PASSES lie detector test over whether his future predictions are true [Mirror]
A man who claims he is from the year 2030 – and has revealed a number of predictions for the future – has undergone a lie detector test and ‘PASSED’.
The self-declared ‘time-traveller’ – who goes by the name of “Noah” – claims he has risked his life to tell those living in the present what the future has in store and insists he has to remain anonymous.
Among his bold claims are that Donald Trump will be re-elected in 2020, Artificial Intelligence will gain momentum and Google-glasses style machines will take over.
Noah previously told Paranormal Elite he has anorexia and depression and is actually 50-years-old, but took an age rejuvenating drug to turn him into a 25-year-old.

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