Tan Hong

39 Flips | 2 Magazines | @tanhong525 | Keep up with Tan Hong on Flipboard, a place to see the stories, photos, and updates that matter to you. Flipboard creates a personalized magazine full of everything, from world news to life’s great moments. Download Flipboard for free and search for “Tan Hong”

Most Asia markets end higher, led by Hong Kong

HONG KONG (MarketWatch) — Hong Kong stocks rallied to lead most Asian markets Thursday, as energy producers climbed after an increase in oil prices …

Stock Markets

Bitcoin takes an important step toward becoming part of every web browser on the planet

A funny thing just happened: virtual currency bitcoin has now passed the first round of approval required to become a standard for the web, alongside other familiar “schemes” which allow elements on a webpage to, for example, open your email application when you click on an email address on a …

Bitcoin

7 Secrets Wealthy People Know About Amassing And Maintaining A Fortune

Becoming wealthy enough to keep the wolf from your door doesn't mean an end to unwanted callers. For every newly minted billionaire, there are …

Japan's 'wall of money' proves elusive for global markets

Japanese investors are repatriating funds from around the world at an accelerating pace, dashing hopes that stimulus from the Bank of Japan will flood global asset markets with newly-printed money.<p>Fresh data from Japan's finance ministry showed that large banks, insurers, and pension funds sold a …

Merkel falters on economic unity in eurozone

German chancellor Angela Merkel has voiced worries over a possible interest rate cut by the European Central Bank since it could harm the German economy.<p>Speaking at a banking conference in Dresden on Thursday, the German Chancellor said the ECB would have to raise its interest rate if it was …

Gold futures logs biggest one-day gain of the year

SAN FRANCISCO (MarketWatch) — Gold futures jumped by nearly $40 an ounce on Thursday to log the biggest one-day gain of the year, supported by …

Stock Markets

Europe stocks rise as U.K. avoids recession

LONDON (MarketWatch) — European stock markets posted their longest winning streak of the year on Thursday, after U.K. economic-growth data beat …

Stock Markets

Why America Might Become A Nation Of Renters Yet

According to the U.S. Census Bureau, the seasonally adjusted national homeownership rate stood at 65.3 percent in the fourth quarter of 2012. That was a big dip compared with the peak of 69.4 percent in 2004 but comparable to the 65.4 percent rate way back at the beginning of 1996.<p>The decline has …

Federal Reserve Clashes With European Central Bank Over Bank Capital Reserves

At the height of the financial crisis in 2008, foreign banks, instead of American banks, were the biggest recipient of funds from the Federal Reserve …

The Short Yen Trade Is The Hottest Trade In The World — But There's One Big Risk To It

As part of the Japanese government's new "Abenomics" strategy to lift the Japanese economy out of a decade of deflation, the Bank of Japan (BoJ) recently announced a massive quantitative easing program, unprecedented in scale.<p>Investors - especially those outside of Japan - have taken this as a sign …

Apple’s annual developer conference sells out in one minute, leaving software heavyweights in the lurch

One minute after they went on sale, the hottest tickets in Silicon Valley, released at 10 a.m. EST this morning, are all gone. There were 5,000 tickets available for Apple’s World Wide Developer Conference, which takes place June 10-14 in San Francisco, and at $1,599 apiece, they weren’t exactly an …

Apple

PayPal Hits The Mall: eBay's Baby Takes On Google, AmEx And Apple At Cash Registers

You’d use PayPal to buy a second-hand leaf blower from a stranger on eBay. But would you use it to buy a new leaf blower at the Home Depot checkout?<p>PayPal bets you would. And eBay’s money transfer subsidiary has been quietly, quickly rolling out its hugely successful operation to a shopping mall …

McDonald’s to Costco: You’re too cheap for us

McDonald’s and Costco would seem to have a lot in common, what with their relentless pursuit of cost-conscious consumers in the name of value.<p>But this month, the fast-food giant snubbed the US warehouse shopping club, dropping it from among two dozen or so competitors, consumer-product companies …

Business

Americans are cutting back on sugar—but seemingly only when it’s in liquid form

Americans are becoming more health-conscious, and so it’s not surprising that Coca-Cola and Pepsi last week both reported a drop in sales volume in sodas for North America. But chocolate-maker Hershey today reported an increase in sales for the first quarter this year. The results show sugar is …

North America

J.C. Penney stock up after word of Soros stake

J.C. Penney stock jumped in after hours trading as word spread that billionaire hedge fund manager George Soros had made an investment in the struggling company.<p>The stock rose more than 7% on the news of Soros Fund Management's 7.9% stake in Penney. Interim CEO Mike Ullman already tapped the …

The New York Times Releases Its Headline-Reading Google Glass App

Google’s ambitious Glass display is still a ways off from its public release, but it looks like those newly minted Glass Explorers now have something else to do besides taking first-person photos. The New York Times just pulled back the curtain on its own Glass-friendly app today, which makes it …

Starbucks posts higher-than-expected earnings as it argues for tax breaks

Starbucks shrugged off worries of an economic slowdown in the US on Thursday and reported higher quarterly profits for the first three months of the …

U.S. dollar drops; pound gains 1% after GDP report

NEW YORK (MarketWatch) — The British pound rallied above $1.54 on Thursday, after a better-than-expected reading on economic growth showed the U.K. …

macroeconomics

Samsung Electronics profits boosted by smartphone sales

http://vod-pro-ww-live.akamaized.net/mps_h264_hi/public/news/business/973000/973325_h264_1500k.mp4?__gda__=1524682707_44530689b28e8c7f80834dc66cbe5cc5<p><b>Samsung Electronics has posted a record quarterly profit, boosted mainly by growing sales of its smartphones.</b><p>It made a net profit of 7.15tn won …

Being a Chinese government official is one of the worst jobs in the world

Life as a Chinese government official isn’t what it used to be. Lavish, liquor-heavy banquets have been outlawed. It will soon be harder to get those handy military license plates, useful for avoiding hassle from traffic police. And these days, with China’s army of voracious and ever-watchful …

China

Cold weather hits lobster supplies

<b>Prolonged cold weather has caused a shortage of Scottish lobster supplies, according to an industry body.</b><p>The Scottish Creel Fishermen's Federation said landings had fallen by as much as 90% off the east coast of Scotland, forcing a sharp rise in wholesale prices.<p>Langoustine catches were also …

U.S. stocks rise after upbeat jobs data, earnings

SAN FRANCISCO (MarketWatch) — U.S. stocks ended up on Thursday, buoyed by corporate-earnings reports and data showing a sharp drop in weekly jobless …

Stock Markets

Yahoo chairman Fred Amoroso steps down

SAN FRANCISCO (MarketWatch) — Yahoo Inc. said Thursday afternoon its chairman, Fred Amoroso, is stepping down next month from its board of …

Advertising

Should Apple Finally Open Up To Journalists?

I worked at Apple for five years and have stayed in touch with many of the people I knew there. Over the last few years as a journalist, I’ve also …

iPhone 5

Starbucks is about to bombard China with way more of its canned drinks

<i>This story has been corrected.</i><p><b>The numbers:</b> Starbucks quarterly profit rose 3.8% to $390.9 million in its second fiscal quarter, compared to a year earlier. The US and China/Asia-Pacific regions posted revenue growth of 6% and 8% respectively, while the region including Europe, the Middle East and …

Howard Schultz

Is the Big Money Moving Overseas?

Once again stocks opened firm and had strong gains in early trading as the sharp drop in jobless claims gave the market an additional boost. Though the market internals were almost 2-1 positive, most of the major averages topped out early in the afternoon and closed well below their best …

Facebook just came up with a great new way to make money—and it’s too late

Facebook just made it much easier for advertisers to target those poor souls who still use “feature” (i.e., non-smart) phones. That seems like a sensible move. As we’ve explained before, much of Facebook’s growth, in terms of users at least, will come from the developing world—places like Indonesia …

Mobile

Warren Buffett-Backed Chinese Automaker BYD Climbs 12% On Turnaround

(Updates with stock close, first-half earnings forecast)<p>Shares in BYD, a Chinese manufacturer of autos, batteries and phone components, soared 12% in Hong Kong after the company said net profit quadrupled to 112.4 million yuan, or $18.1 million, in the first three months of the year as sales …