Posts From King World News
Chinese restrictions on transferring data overseas would burden firms with building “redundant” data centers in China and hamper domestic companies expanding abroad, the American Chamber of Commerce in China said on Tuesday. China has introduced a series of policies in recent years to keep financial and personal data such as credit history and health records on Chinese soil, particularly since intelligence contractor Edward Snowden disclosed details of U.S. spying. China
Norway’s Opera Software on Tuesday launched a new version of the Opera Mini browser for Android phones, hoping to more than double its smartphone user base by the end of 2017. Google’s Android is the most widely used operating system among mobile phone makers. With the launch of Mini 8, Opera aims to lift its smartphone user base to 275 million by 2017 from the current 130 million, increasing the
Framing himself as a politician who’s unafraid to share “hard truths” with the American people, New Jersey Gov. Chris Christie is proposing an income cap on Social Security benefits as part of …
It’s earnings season, and a strong dollar means CEOs citing currency headwinds, but investors should stick to plans and remain diversified.
The shale oil boom that pushed U.S. crude production to the highest level in four decades is grinding to a halt. Output from the prolific tight-rock formations such as North Dakota’s Bakken shale will decline 57,000 barrels a day in May.
The municipal bankruptcies in Detroit and Stockton, California, may foretell more widespread problems in the United States than is implied by current bond ratings, a top Federal Reserve official said on Tuesday. “While these particular bankruptcy filings have captured a considerable amount of attention, and rightly so, they may foreshadow more widespread problems than what might be implied by current bond ratings,” New York Fed President William Dudley said at
Big banks should turn in reasonably good earnings in the first quarter, but regional banks will report only mediocre results, analyst Dick Bove says.
The bank’s strong results bolstered Chief Executive Jamie Dimon’s argument that size and diversification are advantages, not a reason to break up the bank. Some analysts have suggested JPMorgan should be broken up to reduce capital requirements and complexity. JPMorgan’s revenue from trading fixed income, currencies and commodities (FICC) by 5 percent to $4.07 billion in the first quarter. The strong investment banking results helped boost JPMorgan’s shares as much
Crude oil rose on Tuesday after a forecast that U.S. shale oil output would record its first monthly decline in more than four years and on tensions in Yemen, where top oil exporter Saudi Arabia is embroiled in a civil war. Brent crude (LCOc1) was up 32 cents at $58.25 a barrel by 1339 GMT, while U.S. crude (CLc1) was up 57 cents at $52.48. The U.S. Energy Information Administration
Wells Fargo, the third-biggest U.S. bank by assets, said Tuesday that its first-quarter earnings fell slightly from the same period a year earlier. Gains from trading and mortgage originations were offset …
