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Leadership Changes Loom at the Fed
The Trump administration is starting to consider a replacement for US Federal Reserve Chair Janet Yellen after her term expires. This is only one potential leadership change in what could be a wave of turnover ahead for the institution. With three open seats on the Fed’s Board of Governors and more turnover likely, there are many moving parts to the
As Snap Falls Further, Analyst Says Investors Were Sold 'Snake Oil'
Capital Markets
Shares of Snap tumbled 13 percent on Friday after its second quarter earnings were worse than expected, as the company added fewer users and at a slower rate than the previous quarter. Now, one of the Snap's biggest detractors is lashing out against the disastrous IPO's underwriters. Global Equities Research analyst Trip Chowdhry warned investors back in January that Snapchat was "a total
Can AI Figure Out That You Secretly Suck at Your Job?
While you’re busy worrying whether a robot is going to take your job, some companies are building tools to better measure how well you do it. Machine learning is already doing an increasing variety of work, from chatbots that answer customer-service questions and screen job candidates to systems that analyze employee data that an HR department would otherwise track across dozens of spreadsheets and emails. Now there’s a
Uber Investor Has Sued Former CEO Travis Kalanick
Venture Capital
Benchmark Capital, an early investor in Uber, has sued former CEO Travis Kalanick for breach of contract and breach of fiduciary duty, Axios reports. The venture capital firm filed its lawsuit in Delaware Chancery Court on Thursday. Axios notes that Benchmark has a seat on Uber's board and led the "shareholder revolt" that led to Kalanick's ouster in June. Per Axios:
With Nvidia Down 13% This Week, Jefferies Says 'Buy On Weakness'
Capital Markets
NVIDIA Corporation (NASDAQ: NVDA) shares were down 5 percent to $156.51 in pre-market trading Friday in reaction to its second-quarter results. Ahead of the results, there was nervous selling, with the stock declining over 4 percent on Thursday alone amid the news that short seller Andrew Left of Citron Research has shorted the stock. Jefferies is undeterred by the after-market weakness and said its
Mobile Payments in China Surge to $5.5 Trillion
The PBOC may not like the idea of a cashless China, but nevertheless, mobile payments in the Middle Kingdom are ripping higher. China Money Network: Chinese consumers spent US$5.5 trillion via mobile payment platforms last year, about 50 times more than their American counterparts. By the end of 2016, Tencent alone saw both its active mobile payment accounts and average
Paulson Tries Going Back to Basics but Losses Mount
Hedge Funds
Since he shot to fame by betting on the collapse of the US housing market nearly ten years ago, John Paulson and his Paulson Co hedge fund has struggled to hold on to the billions he made for himself and his investors by making one of the most audacious bets in history. Q2/H1 Hedge Fund Letters – Letters, Conferences, Calls,
How to Invest in China’s New High-Tech Economy
Capital Markets
There have been recent fears among economists and investors alike that China’s debt-fueled economy would contract as it transitions from old-school manufacturing to services, but the Asian giant has been far more resilient than most anticipated. Its gross domestic product (GDP) for the second quarter rose 6.9 percent over the same period last year, beating expectations and putting the country
CEO Dismisses Bill Ackman as a 'Spoiled Brat' Who Acts Like a 'Used Car Salesman'
Hedge Funds
Pershing Square's Bill Ackman, who seems to have a talent for getting under the skin of others - from Carl Icahn to Joe Biden to anonymous peers in the hedge fund industry - is now testing the patience of Carlos Rodriguez, chief executive officer of Automatic Data Processing Inc. The spat between the two men is part of an ongoing proxy
How to Nail the First 90 Seconds of That Big Meeting
It’s your big opportunity. You’ve been invited to join your boss for a major meeting–with upper management, or maybe with an important client. You’re the expert this time around, the eyes-and-ears-on-the-ground who’s here to share some insights from the front lines. Do that well, and you know your boss will trust you with bigger responsibilities in the near future. But you’re nervous–understandably–and you