Posts From King World News
By Alastair Sharp TORONTO (Reuters) – Noel Biderman, the chief executive of infidelity website Ashley Madison’s parent company Avid Life, has left the company, weeks after hackers launched a cyber assault that leaked sensitive data about millions of clients. The Canadian company was rocked by the release of Ashley Madison customer data on Aug. 18 by hackers who claimed to be unhappy with its business practices. The data dump contained
By Julia Fioretti BRUSSELS (Reuters) – Brussels will launch a study in September of the taxi-hailing app Uber, in an effort to settle the legal disputes that have pitched the U.S. start-up against conventional taxis across Europe, three people familiar with the matter said. Since opening in Paris in 2011, San Francisco-based Uber has run into vehement opposition from taxi drivers, who complain it competes unfairly by bypassing local laws
By Simon Jessop and Ross Kerber LONDON/BOSTON (Reuters) – Investors are being poorly served by a haphazard approach from fund managers to the growing threat of cyber crime damaging the companies in which they invest, with a lack of clarity from the businesses themselves compounding the problem. Banks have led the way in developing cyber defenses and some top fund managers have ramped up pressure on companies to do more,
By David Alexander NEWPORT BEACH, Calif. (Reuters) – The Pentagon is teaming up with Apple, Boeing, Harvard and others to develop high-tech sensory gear flexible enough to be worn by people or molded onto the outside of a jet. The rapid development of new technologies is forcing the Pentagon to seek partnerships with the private sector rather than developing its technology itself, defense officials say. “I’ve been pushing the Pentagon
China’s largest banks warned of a tough year after posting their weakest half-yearly profit growth in at least six years as a slowing economy forces the lenders to make even more provisions for soured loans and squeezes interest income.
The market selloff hasn’t run its course, even with two-straight trading sessions ending sharply higher, Strategas’ Jason Trennert warns.
U.S. consumer sentiment fell in August, a survey released on Friday showed. The University of Michigan’s final August reading on the overall index on consumer sentiment came in at 91.9, down from 93.1 in July. It was lower than the survey’s preliminary reading of 92.9.
The price of oil has tumbled 58% this year to reach a six-year low earlier this week. Even if prices stay at these levels, chances are they won’t impact the Federal Reserve’s interest-rate plans.
Last week I wrote about the dangers of vacant seats at the financial regulatory agencies. Bloomberg reported this week that regulators are privately discussing giving the biggest Wall Street firms a break on rules guarding against excessive leverage. Just looking at the Chinese stock market crash, fueled by “margin trading” funded through borrowing, reveals the hazards of excessive leverage.
There are at least three core challenges facing the market: A badly broken trend, the still-dangerous winds of this volatility storm, and the Fed’s response to all the noise.
