Markets

Ethereum soars above $600 after a group of big banks announce a new project on its blockchain

• <b>Ether, the second largest cryptocurrency by market capitalization, soared past $600 a token Tuesday.</b>• <b><br>Ether was trading up 20% at $616 at 10:35 a.m. ET, according to data from Markets Insider.</b>• <b><br>The record comes a day after a group of banks led by UBS announced a data quality control project on</b> …

Bitcoin

Vanguard, the fund giant with nearly $5 trillion in assets, is using blockchain to underpin its mutual funds

• <b>Vanguard, the $5 trillion mutual fund manager, announced on Monday it's using the blockchain to simplify how it updates the index data underpinning its mutual funds.</b>• <b><br>Blockchain is the distributed ledger technology underpinning cryptocurrencies such as bitcoin and ether.</b><p>Vanguard is moving to use …

Bitcoin

1930s Germany showed us that bad tax policy can magnify Washington's worst problem by 1,000

• <b>New economic research shows that bad tax policy was instrumental in bringing about the rise of the Nazi Party in 1933.</b>• <b><br>Austerity measures implemented by an incompetent Weimar government had the unintended consequence of radicalizing German voters.</b>• <b><br>The U.S. is not Weimar Germany, but GOP policies —</b> …

Economics

Alabama upset, Fed decision; Oil watch

<b>1. Upset in Alabama:</b> The dollar took a minor hit after Doug Jones became the first Democrat in 25 years to win a Senate seat in Alabama.<p>Why it matters: The result shrinks the Republican majority in the Senate to a single seat, spelling trouble for President Trump's legislative agenda.<p>"Significant …

Economy

EUROPE MARKETS: European Stocks Step Back From Highest In 5 Weeks, But Retailers Gain Ground

Analyst: It's a typical low-volume lead up on a Fed-decision day<p>European stocks pulled back from a five-week high Wednesday, with investors bracing for an expected hike in borrowing costs by the Federal Reserve, while retail shares were showing strength.<p>How markets are moving: The Stoxx Europe 600 …

Economy

Coinbase halts ether and litecoin trading as cryptocurrency market approaches $500 billion

• <b>Coinbase, the popular cryptocurrency trading platform, blocked users Tuesday from buying red-hot litecoin and ether.</b>• <b><br>Investors poured into the two red-hot digital currencies Tuesday morning, pushing them both to new heights.</b>• <b><br>Litecoin hit a record of $312 on Tuesday, while ether soared over to more</b> …

Cryptocurrency

Australia shares higher at close of trade; S&P/ASX 200 up 0.14%

Investing.com – Australia equities were higher at the close on Wednesday, as gains in the Real Estate Investment, Consumer Staples and Industrials …

Real Estate

Bitcoin Futures May Offer No Way Out - Bloomberg Gadfly

Bitcoin traders and watchers have been busy heralding the entrance of cryptocurrencies futures. What they should really be focused on is the exit.<p>The …

Cryptocurrency

Zara's Shrinking Profit Margins Expose a Fashion Behemoth

MADRID – Shrinking profit margins at the parent company of Zara have exposed a rare weakness in the armor of a fashion behemoth that has largely resisted the headwinds currently battering the industry.<p>Inditex SA, the Spanish company that owns Zara and brands such as Massimo Dutti and Bershka, on …

FT Opening Quote – Dixons Carphone profits fall 60%

Customers are used to be being put on hold by retailers. Retailers are less used to being put on hold by customers, <i>writes Matthew Vincent</i>. But that …

Economy

Real earnings fell again in October as unemployment stayed flat

The squeeze on consumers was confirmed today after official data showed wages rose 2.5 per cent in the year to October, half a percentage point below …

Economy

Goldman Sachs sees fair valuation on Columbia Sportswear

Goldman Sachs drops Columbia Sportswear (NASDAQ:COLM) to a Neutral rating from Buy after watching shares run higher.<p>Analyst Lindsay Drucker Mann sees …

Business

Rand Paul says he will vote against budget bill that adds to deficit — after voting for deficit-hiking tax bill

• <b>Sen. Rand Paul announced in a video on Twitter that he will vote against any government funding legislation.</b>• <b><br>A funding bill must be passed before December 22 — or the federal government will partially shut down.</b>• <b><br>Paul said he is still a "yes" on the GOP tax bill despite official analyses showing that</b> …

U.S. Politics

Mexican Industrial Production Fell in October

MEXICO CITY – Mexican industry performed worse than expected in October, with production falling from the previous month as weakness in manufacturing and construction offset a recovery in oil and gas output.<p>Industrial production slipped 0.1% seasonally adjusted from September, and was 1.1% lower …

‘Buy the Dip’ Has Never Been More Popular in U.S. Stocks

“Buy the dip” has never been so popular.<p>The practice of treating any and all pullbacks in risk assets as opportunities to accumulate more has become …

Business

Global stocks mixed ahead of likely US rate hike

BEIJING (AP) — Global stocks were mixed Wednesday after Wall Street gained ahead of a likely U.S. interest rate hike.<p>KEEPING SCORE: In early trading, Germany's DAX was off 8 points at 13,183.33 points and France's CAC-40 shed 4 points to 5,424.53. London's FTSE 100 was unchanged at 7,500.28. On …

Business

Tesla is rallying after Pepsi places an order for 100 Semis (TSLA)

• <b>Tesla just received another big preorder for its Semi truck, putting the total number of preorders at around 267, according to Reuters' Eric Johnson.</b>• <b><br>Truck buyers could be ordering trucks years before they are available in order to get a spot at the front of the line.</b>• <b><br>Tesla is trading higher after</b> …

Business

These two companies could take half of big tech’s profit in 2018

On the whole, tech giants are poised to deliver “stable” revenue and profit in 2018, but Apple Inc. and Microsoft Inc. are expected to be the main …

Financials lead FTSE as markets tread water ahead of Fed

LONDON (Reuters) - British shares traded sideways on Wednesday as investors' anticipation of a rate rise from the U.S. Fed drove financial stocks …

Economy

Tui profits boosted by strong sales in own-brand hotels, cruise ship

December 13, 2017<p>Tui, the world largest holiday company, has reported that booming sales at its own-brand hotels and travellers boarding its cruise …

Air Berlin

80% of Wall Street economists, strategists believe bitcoin is a bubble: Survey

Despite bitcoin's immense gain in popularity, Wall Street's top economists and market strategists remain unconvinced.<p>Eighty percent of respondents to …

Economy

The Latest: Investors cautious ahead of Fed announcement

WASHINGTON – The Latest on the Federal Reserve's monetary policy meeting (all times local):<p>4:50 a.m.<p>World stock markets are subdued ahead of an expected interest rate increase from the Federal Reserve.<p>The Fed is widely expected to raise on Wednesday its key interest rate for the third time this …

Economy

Bitcoin: Overstock Surges on Morgan Stanley Stake | Investopedia

Online retailer turned bitcoin play Overstock.com Inc. (OSTK) continues to gain Tuesday morning, up 2% at $56.10 per share after skyrocketing over …

Cryptocurrency

Asia-Pacific Stocks: Japan’s Nikkei Slips as Banks, Casinos Inspire Hong Kong Rally

Asia-Pacific stocks markets diverged on Wednesday as banks led a Hong Kong rally, while Japan's export-heavy benchmark indices retreated ahead of the …

Western Digital

Bitcoin futures broker to allow negative bets

Gregory Meyer in New York<p>December 12, 2017<p>The biggest broker for bitcoin futures says it will start to allow customers to bet against the …

Trading

Bitcoin euphoria puts other retail bets in shade

(Reuters) - If you wondered why 18-year old twitterati and seasoned speculative traders alike have bet on bitcoin's surge towards $20,000 this week, look no further than the comparison with the past year's new stock exchange floatations.<p>As the below chart shows, the exchange-traded fund of …

Cryptocurrency

Germany’s Metro targets profit boost after ‘eventful’ year

December 13, 2017<p>German wholesale retailer Metro is promising more profits in 2018.<p>The Düsseldorf-based retailer, which in July hived off its …

Westfield a standout in muted ASX session

Australian shares edged up to end the day in positive territory with Westfield soaring after news of a massive takeover offer for the property …

American Petroleum Institute

JSE opens firmer as Steinhoff recovers more, with Naspers subdued

The JSE opened firmer on Wednesday as retailers rebounded on the ongoing recovery at Steinhoff, while platinum stocks gained on the weaker rand.<p>Anglo …

Business (South Africa)

Why OMC shares lack fuel these days

The latest data on petroleum product consumption for the month of November showing a 6.2% year-on-year increase is encouraging.<p>Crude oil prices were …

Oil