Economy

Australia's big banks hit back against 'populist bank bashing'

Australia's big banks hit back against 'populist bank bashing' But Australian Bankers' Association Chief Executive Anna Bligh criticised the new tax, which Morrison warned banks against passing on to consumers. ANZ chief executive, Shayne Elliott said the bank tax was regrettable and agreed with Thorburn that it would impact bank shareholders and bank customers. [Full Article...]

Ex-French PM seeks to join Macron revolution

The man who will formally become France's youngest president on Sunday has never held elected office. Before the election, Nature polled thousands of French scientists and, of the 173 respondents, most supported Macron with "with nearly no support for Le Pen", Nature reported April 20. [Full Article...]

Macron movement to announce parliamentary candidates by Thursday

Macron movement to announce parliamentary candidates by Thursday Mr Pisani-Ferry, however, insisted Mr Macron would not seek to punish Britain, adding: "He believes that even today Europe is part of the solution to the problems we are facing". With the support of almost 11 million voters, she has planned to transform her movement into "a new political force". However, the situation in the legislative elections is different. [Full Article...]

Analysts' Ratings Review: Advanced Micro Devices, Inc. (NASDAQ:AMD)

Analysts' Ratings Review: Advanced Micro Devices, Inc. (NASDAQ:AMD) The Ngam Advisors Lp holds 251,386 shares with $19.56M value, down from 265,130 last quarter. Following the completion of the transaction, the director now directly owns 638,902 shares of the company's stock, valued at approximately $8,516,563.66. [Full Article...]

Reaffirms "Neutral" Rating for Morgan Advanced Materials PLC (MGAM)

Empyrean Capital Partners Lp increased Novagold Res Inc (NG) stake by 13.03% reported in 2016Q4 SEC filing. Sensato Investors Llc acquired 139,300 shares as Prudential Finl Inc (PRU)'s stock rose 27.79%. Canaccord Genuity boosted their target price on Aviva plc from GBX 500 ($6.47) to GBX 560 ($7.24) and gave the stock a buy rating in a report on Wednesday, April 19th. [Full Article...]

White House calls Sally Yates a 'political opponent' of Trump

White House calls Sally Yates a 'political opponent' of Trump Mr Flynn had told Vice President Mike Pence that he did not discuss American sanctions on Russian Federation, a statement that was later shown to be wrong. They noted they first requested he hand over relevant documents in April, but that at that time, Flynn declined to cooperate. Before assuming office, Mr. [Full Article...]

Banks must decide how to pay for additional tax, potentially hitting customers

Finance Minister Mathias Cormann said the banks received a straightforward explanation on the levy and there was nothing complicated about its details. "It would be a bad outcome for everyone concerned". "This is particularly so given the lack of detail and the absence of any consultation". It marks the second-largest new revenue measure in the annual fiscal blueprint. [Full Article...]

OPEC sees much higher oil supply from rivals in 2017

USA crude oil production C-OUT-T-EIA has already risen by over 10 percent since its mid-2016 trough, to more than 9.3 million bpd, close to levels of top producers Russian Federation and Saudi Arabia. Even so, other experts are still cautiously optimistic about the market in 2017, and believe OPEC's cuts will reduce the global supply glut as early as the end of this year. [Full Article...]

Turkmenistan to join OPEC production cut

Turkmenistan to join OPEC production cut Non-cartel producers led by Russian Federation partially matched the cuts. According to the report, OPEC members cut oil output by 18,000 b/d in April. The two biggest producers participating in the cuts, OPEC's Saudi Arabia and non-member Russian Federation, both signaled willingness on May 8 to extend the deal. [Full Article...]

Ryan says tax overhaul long overdue

Ryan says tax overhaul long overdue Hours after the event, Ryan told Fox News that President Trump lost confidence in the former Federal Bureau of Investigation director. "I want to assure the American people and people in my district that the House and Senate Intelligence Committees are continuing, and the FBI investigation, to the extent there is one, is continuing", said Stivers. [Full Article...]

HHS secretary defends cutting nearly $1 trillion from Medicaid

Collins told reporters that GOP women senators "are not afraid to make their voices heard" and said she was not anxious they would have no input. "We can do with less resources, but we can't do it overnight". Ryan and his lieutenants browbeat and cajoled members of their caucus to pass the bill. Although it is a major victory for President Donald Trump, the bill is far from becoming law. [Full Article...]

Snap misses Q1 expectations

Snap was flying high after completing a successful IPO earlier this year. Snap reported 166m daily users at the end of March, up 5 per cent from the previous quarter. Of note is the fact that Snapchat's core feature - photos and video clips that disappear after 24 hours - has now been copied by both of Facebook's acquired social companies, Instagram and WhatsApp. [Full Article...]

Halfords Group PLC reiterated as Sell By Peel Hunt

Halfords Group PLC reiterated as Sell By Peel Hunt Fukoku Mutual Life Insur holds 0.04% or 2,100 shares in its portfolio. The California-based Blackrock Institutional Trust Company N.A. has invested 0% in the stock. GBX 4898.14's average target is 3.43% above currents GBX 4735.5 stock price. Microsemi had 26 analyst reports since August 3, 2015 according to SRatingsIntel. [Full Article...]

Benzema's great escape puts Madrid in Champions League final

Benzema's great escape puts Madrid in Champions League final I honestly can't remember how many players he left behind. Football is not only goal, he scores goals but also has these things. "I'm pleased with his performance". Arriving to back to back finals it's everybody's job. Zinedine Zidane's side, who registered a 2-0 win in the first-leg at the Santiago Bernabeu Stadium, made it to the summit showdown despite a 2-1 defeat in the second leg of thei... [Full Article...]

Molefe to resume as Eskom CEO after resignation rescinded

Molefe to resume as Eskom CEO after resignation rescinded A new deal was subsequently struck - with Brown's approval - that entailed Eskom reinstating Molefe's employment contract. Molefe stepped down as Eskom CEO in November after being linked to the Gupta family, and has been dogged by controversy since. [Full Article...]

Disappointing retail earnings drag USA stocks lower

Penney Co Inc are struggling with declining mall traffic and tough online competition, and are trying to cope by cutting costs through store closures, selling or leasing their real estate and keeping inventory levels low. The retail climate is a big challenge for Macy's new CEO Jeff Gennette, who succeeded longtime chief executive Terry Lundgren in March. Foot traffic continues to dwindle at b... [Full Article...]

United Airlines faces Congress

United Airlines faces Congress Airlines have said they routinely overbook flights because a small percentage of passengers do not show up. Committee members wondered how United's policies led to aviation security officers dragging Dr. DeFazio also used the occasion to criticize the airlines industry's goal of spinning off air traffic control operation from the Federal Aviation Administration. [Full Article...]

Snapchat reports first earnings since going public ; Lost $2.2 billion last quarter !

It is also an increase of 36% on the 122 million daily users the app had this time previous year. Analysts from J.P. Morgan anticipated Snap's DAUs to increase to 169 million by the end of the first quarter. Indeed, the Stories feature on Instagram, which is owned by Facebook , has some 200 million daily users. The $3.4bn it raised made the float the richest United States technology company... [Full Article...]

Apple eager to tap India's huge potential, says Tim Cook

Apple eager to tap India's huge potential, says Tim Cook Apple said the segment generated $7.04 billion in revenue this past quarter, the second straight quarter it's crossed the $7 billion threshold, and a $1.05 billion rise year-over-year. tech giant will strengthen its presence in India's "under-penetrated" market, amid improving 4G network infrastructure. Its latest moves may be meant to head off any potential conflicts with President Trump, who ha... [Full Article...]

Snap posts big 1Q loss, higher revenue, misses expectations

Snap posts big 1Q loss, higher revenue, misses expectations Snapchat's parent company just posted its first-quarter earnings report on Wednesday, May 10, with losses ballooning up to a startling $2.2 billion. Facebook's shadow continues to hang over Snapchat , which is still best known for disappearing messages even though it has evolved to become much more . [Full Article...]


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