Finance

TransferWise co-founders Taavet Hinrikus and Kristo Kaarmann. TransferWise TransferWise, the money transfer company that’s taking on Western Union, is valued at $3.5 billion after a new investment round, making it Europe’s most valuable financial technology start-up. In lowering fees and adding a slick online platform to help consumers move money globally and track their transfers,
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Shoppers enter the Nordstrom store April 1, 2003 on Michigan Avenue in Chicago. Scott Olson | Getty Images Check out the companies making headlines after the bell: Shares of Nordstrom tanked more than 9% in extended trading after the department store reported first-quarter results that missed on the top and bottom lines. Nordstrom reported earnings
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You know there’s an underlying problem when investment firms start to cut exposure to a particular asset class. Goldman Sachs’ decision last week to slash exposure to emerging markets is an indication of the current situation for these economies. The bank’s asset management arm said it had scaled back its “overweight” exposure to emerging market
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Visitors try out the Huawei Mate S smartphone. Sean Gallup | Getty Images News | Getty Images A sell-off in chip stocks intensified on Monday following a report that semiconductor makers are cutting ties with Huawei following restrictions imposed by President Donald Trump’s administration. The U.S. Commerce Department last week blacklisted Huawei and effectively halted
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There are two schools of thought on 61-year-old SoftBank founder Masayoshi Son. To quote from the 1990s animated cartoon theme song for “Pinky and the Brain”: One is a genius, the other’s insane. Son is one of the world’s wealthiest men, with a net worth of more than $20 billion. He founded a Japanese wireless
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A banner for the online image board Pinterest Inc. hangs from the New York Stock Exchange on the morning that Pinterest makes its initial public offering on April 18, 2019. Spencer Platt | Getty Images Check out the companies making headlines midday Friday: Cray — Shares of Cray surged 22.5% after the supercomputer manufacturer announced
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Jeffrey Gundlach Jin Lee | Bloomberg | Getty Images DoubleLine CEO Jeffrey Gundlach warned investors Tuesday that the U.S. is unequipped for recession as it becomes increasingly strapped by debt. “Any thoughtful person would be concerned,” the so-called “bond king” said in a webcast. “It’s sounding like a pretty bad cocktail of economic risk, and
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Check out the companies making headlines before the bell: Take-Two Interactive — Take-Two reported adjusted quarterly profit of 78 cents per share, 3 cents a share above estimates. Revenue was below Wall Street forecasts, however, and the company gave a weaker-than-expected outlook as it continues to face intense competition from Fortnite and other popular games.
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President Donald Trump, U.S. President Donald Trump’s national security adviser John Bolton, U.S. Treasury Secretary Steven Mnuchin attend a working dinner with Chinese President Xi Jinping after the G20 leaders summit in Buenos Aires, Argentina December 1, 2018.  Kevin Lemarque | CNBC The United States kicked off the necessary process before Washington can impose tariffs
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A man walks past a bitcoin ATM in Vilnius, Lithuania. Ints Kalnins | Reuters Bitcoin has jumped above $7,000, continuing a stunning comeback for the cryptocurrency in 2019. The virtual currency climbed close to $7,600 on Sunday, according to industry website CoinDesk. It’s since pared gains, but is still holding above that $7,000 level. It
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Even if the May pullback lingers until summer, Cresset Capital’s Jack Ablin plans to embrace it. He believes market and economic fundamentals are intact, and a U.S.-China trade deal isn’t essential to keeping the bull market alive. Ablin cites liquidity —the ability and desire to borrow, spend and invest money — as a critical driver
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Bob Iger Stephen Desaulniers | CNBC This week, several large traditional media companies provided us with data points that nicely illustrate today’s confusing media world: Let’s start with Disney, which announced its quarterly earnings on May 8. This week, Sinclair acquired Disney’s 21 regional sports networks (which it got when it bought Fox) for $9.6
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Panoramic Images | Getty Images Private equity has taken center stage in active investing, and that means the stock market and its investors could face more challenges — especially in a recession. The transition is already underway and according to asset manager AllianceBernstein, won’t be ending soon. In a note to clients this week, the
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