Display:

Latest 24 Hour Economy News
Source: Reuters

Facebook beats profit estimates, sets aside $3 billion for privacy...

Thursday 21:51 GMT

(Reuters) - Facebook Inc on Wednesday blew away Wall Street profit estimates in the first quarter as it kept a lid on the costs of making its social networks safer, and set aside $3 billion to cover a settlement with U.S. regulators, calming investors who had worried about the outcome of a months-long federal probe.

Excluding the $3 billion it set aside, Facebook would have earned $1.89 a share, up from $1.69 the year prior and easily beating analysts’ average estimate of $1.63 per share, according to IBES data from Refinitiv.

Source: Reuters

Breakingviews - Instagram is becoming Facebook’s sugar daddy

Thursday 21:51 GMT

Snapchat, Snap’s disappearing-messaging service, is the most popular social-media service, according to a recent Piper Jaffray study of 8,000 teens, but Instagram is the most used.

Engagement with Facebook’s original eponymous newsfeed is declining, though, and only 6 percent of the teens said it’s their favorite platform. Yet as Facebook chases Instagram revenue, it risks alienating users who partly like it because it has its own identity.

Source: The Guradian

Facebook expects FTC fine of up to $5bn as inquiry continues

Thursday 20:00 GMT

Facebook is expecting to have to pay as much as $5bn to the US Federal Trade Commission (FTC), it revealed in first quarter financial reports, which otherwise showed continued revenue growth to more than $15bn for the first three months of the year.

Zuckerberg’s reference to “issues around the internet” echoes the CEO’s messaging from last quarter, when he expressed confidence that Facebook had “started to turn a corner” on the laundry list of “social issues” that have damaged the company’s reputation since 2016. That plan – to stitch together the various messaging platforms in Facebook’s “family of apps” – was announced in March as a pivot to a “privacy-focused communications platform”.

Source: Common Domain

Facebook expects multibillion-dollar FTC fine, but stock still gains after earnings

Thursday 20:00 GMT

Facebook Inc. shares jumped in late trading Wednesday, even as the company said it expects to pay a multibillion-dollar fine to the Federal Trade Commission.

Facebook took a $3 billion charge in the first quarter, as it “reasonably estimated” that it will be required to pay that much as the FTC looks to punish the company for violating a consent decree on user privacy. Without that charge, Facebook would have easily topped earnings estimates, so after a brief decline in shares during after-hours trading, they jumped back up to a 4% gain.

Source: Common Domain

Mansion Global Daily: U.K. Homes Sales Flat, U.S. Home Sales High and More

Thursday 09:55 GMT

Read More. U.S. New Home Sales Hit 16-Month High in March March brought an unexpected 4.5% growth in U.S. home sales, reaching its highest annual rate since November 2017, according to the U.S. Department of Commerce.

The Hindu Business Line. Celebrity Spec Home Builder Lists Hollywood Hills Home for $28 Million [The Wall Street Journal]

Source: Common Domain

10-year Treasury yield records biggest daily drop in a month after soft German data

Thursday 19:05 GMT

The 10-year Treasury note yield TMUBMUSD10Y, -1.86%  slipped 4.9 basis points to 2.522%, is biggest daily decline since March 22, while the 2-year note yield TMUBMUSD02Y, -1.98%  retreated 4.3 basis points to a three-week low of 2.320%, marking its largest single-day drop since March 27.

Treasury prices rose Wednesday, pushing yields lower, after a reading of German business confidence heightened concerns over the health of the biggest economy in the eurozone, sparking a rally in European government paper.

Source: Common Domain

Gold ends higher as the U.S. stock market pauses its rally

Thursday 12:40 GMT

Gold futures ended higher on Wednesday, rebounding from their lowest levels of the year, as a rally in stocks that took two of the three main U.S. equity indexes to records cooled, providing support for the haven metal.

The recent bout of weakness in gold has made some assets pegged to the precious asset appear more attractive, one market technician said. But on a longer time frame, nothing has changed as gold has been pinned in a trading range between roughly $1,150 and $1,350 since 2016.”

Source: Fox News

Illinois Gov. Pritzker under federal investigation for tax break on mansion: report

Thursday 15:26 GMT

Illinois Gov. J.B. Pritzker, along with his wife and brother-in-law, reportedly is under federal criminal investigation for a questionable property tax appeal that has hung over him since last year’s gubernatorial race.

According to a Cook County inspector general’s report, which was first discovered by the Chicago Sun-Times newspaper, Illinois First Lady MK Pritzker ordered workers at the mansion to remove all the toilets in the residence so it could be declared “uninhabitable” – giving the couple a large tax break.

Source: Common Domain

This is the country’s most popular rental market

Thursday 17:16 GMT

Chicago is the most popular market for rental housing in the United States, according to a new report from Zillow ZG, -2.53% subsidiary HotPads.

To produce its analysis, HotPads ranked the 50 largest metro areas based on what share of rental searches were from locals and how commonly they ranked as a top search destination for renters looking to relocate.

Source: Common Domain

Dollar makes fresh multimonth high; Aussie weakens on benign inflation

Thursday 05:10 GMT

The ICE Dollar Index, DXY, +0.38%  which measures the dollar against a basket of six currencies, was at 97.827, up 0.1% on the day.

The Aussie dragged the neighboring New Zealand dollar NZDUSD, -0.9315%  lower, with the kiwi trading at $0.6596 versus the dollar, down 0.9%. Elsewhere, the Canadian dollar fell by 0.7% after the central bank, as expected, left interest rates unchanged but cut its outlook for growth.

Source: Common Domain

AbbVie and Bristol-Myers Squibb will report first-quarter earnings on Thursday. Here’s what to expect

Thursday 17:16 GMT

Next up are AbbVie Inc. ABBV, +0.21%  and Bristol-Myers Squibb Co. BMY, -1.27%  Here’s what investors can expect on Thursday as these two pharmaceutical giants report first-quarter earnings.

Bristol-Myers Squibb, set to announce earnings on Thursday morning ahead of the market open, is expected to report a profit of $1.09 per share on revenue of $5.752 billion, up from 94 cents per share on revenue of $5.193 billion a year ago, according to analysts polled by FactSet.

Source: BBC

New James Bond film cast to be revealed

Thursday 15:25 GMT

The cast of the 25th official James Bond film is expected to be revealed at its launch on Thursday, along with more key details about the movie.

If it follows the pattern of previous launches, the title of the film will be revealed as well as the identities of the main cast members. The event will be held at "one of 007's most iconic locations" and will be streamed on social media at 13:10 BST.

Source: Reuters

Anthem beats earnings estimates, outlines plans for pharmacy...

Thursday 16:21 GMT

(Reuters) - Anthem Inc on Wednesday posted a better-than-expected quarterly profit and laid out its plans to transition most customers to its revamped pharmacy benefits business this year.

Anthem, which operates Blue Cross Blue Shield plans in 14 states, is facing a changed health insurance landscape after separate deals by rivals Aetna and Cigna Corp to merge with the biggest U.S. pharmacy benefits managers (PBMs) last year.

Source: Common Domain

Apple Stock Can Still Rise Even as iPhone Shipments Fall, Analyst Says

Thursday 15:25 GMT

Apple reduced prices on iPhone XS (as much as 6%) and iPhone XR (5%) in China following a 3% drop in the country’s value-added tax.

While Wells Fargo remains intrigued by Apple’s plunge into the subscription-services market with Apple TV+, Apple News+, and Apple Arcade, it has questions about “consumer appetite for additional subscription services in a content saturated world, and High cost/Margin downside risk driven by a mix shift to potentially lower margin services.”

Source: Global News

Bank of Canada holds key interest rate at 1.75%, downgrades economic forecast

Thursday 12:40 GMT

The Bank of Canada kept its key interest rate unchanged Wednesday as it downgraded its 2019 growth forecast based on its prediction the economy nearly ground to a halt at the start of the year.

WATCH: Bank of Canada governor Poloz says Canadians who don’t qualify for mortgage ‘can buy a smaller home’. Many economists expect the bank to leave the interest rate untouched until at least late in the year, with some warning a rate cut could arrive before the next increase.

Source: BBC

Nasa lander 'detects first Marsquake'

Tuesday 22:45 GMT
Source: Common Domain

What to do when saving enough money to retire demands drastic action

Sunday 21:48 GMT
Source: Fox News

Maid of honor claims nearly 100 goldfish died after 'crappy' bride insisted on giving them as wedding favors

Monday 19:04 GMT
Source: The Guradian

Bolsonaro's motorbike escapade provokes helmet backlash

Monday 19:04 GMT
Source: The Guradian

Polly Higgins, lawyer who fought for recognition of 'ecocide', dies aged 50

Monday 14:30 GMT
Source: Common Domain

Logistics Report: Logistics for Thin Mints; Following the Robots; Resetting Railroad Maps

Monday 14:30 GMT
Source: Common Domain

Mastercard and Visa Stock Will Gain Because Strong Earnings Growth Will Continue, Analyst Says

Wednesday 16:21 GMT
Source: Fox News

Veterans should have choice on health care provider: Dan Caldwell

Thursday 17:16 GMT
Source: DW

Deutsche Bank hands over Donald Trump loan documents: reports

Thursday 21:51 GMT
Source: Fox News

Biden's Senate records held by his alma mater won't be released until late 2019, possibly even later

Thursday 23:40 GMT
Source: Common Domain

Trump says stocks have hit records ‘close to or over a 100 times’ since he took office — but he may be understating it

Thursday 19:06 GMT
Source: The Guradian

Oil prices expected to spike in summer as US toughens stance on Iran sanctions

Thursday 23:40 GMT
Source: Global News

Netflix still eligible for Oscars as Academy keeps streaming rule unchanged

Thursday 12:39 GMT
Source: Fox News

California gas price spike result of 'mystery' surcharge?

Thursday 15:25 GMT

“Four hostile newspapers are more to be feared than a thousand bayonets...” ― Napoléon Bonaparte