Mark Cuban unleashes on high-frequency trading
Billionaire Mark Cuban criticized the stock market’s safety Friday, bashing perceived apathy toward high-frequency trading.
MONEY (MSM)
September housing data eyed after August disappointed
Home buyers returned from summer vacations to lower mortgage rates and increasing rents, and may have moved back into the market after staying away in August. The NAHB (National Association of Homebuilders) housing market index measuring seller sentiment is due out Monday, to be followed during the week by data that includes building permits and housing starts, mortgages, and home prices and sales. Strength in June and July housing data
French police search VW offices in emissions probe
French police have carried out searches at Volkswagen (VOWG_p.DE) offices in France, the Paris Prosecutor’s office said on Sunday, as part of an investigation following revelations the carmaker rigged vehicle diesel emissions tests. Police searched on Friday Volkswagen’s main French office in Villers-Cotterets northeast of Paris and another VW office at Roissy near Paris’ main airport, seizing computer material, an official at the Prosecutor’s office said.
Alibaba lobbies to stay off U.S. blacklist list for fakes
Chinese e-commerce giant Alibaba Group Holding Ltd is lobbying hard to stay off the U.S. Trade Representative’s blacklist after coming under renewed pressure this year over suspected counterfeits sold on its shopping platforms. Re-inclusion on the USTR’s annual list of the world’s most “notorious markets” for sales of pirated and counterfeit goods, while not carrying direct penalties, would be a blow to the company’s efforts to shed perceptions that its
U.S. consumer sentiment rebounds; industrial output weak
U.S. consumer sentiment rebounded strongly in early October, suggesting that the economic recovery remained on track despite headwinds from a strong dollar and weak global demand that have weighed on the industrial sector, particularly manufacturing. The snapback in sentiment reported on Friday underscored robust domestic demand and offered hope that consumer spending would remain solid enough to support economic growth, which has slowed significantly in recent months. The University of
Credit Suisse's Thiam set to show hand as CEO
ZURICH/LONDON (Reuters) – When Tidjane Thiam unveils his plans for Credit Suisse on Wednesday the Swiss bank’s new chief executive will likely rest his case on three Cs: capital, cuts and charm. Thiam will show his hand after taking the reins at Zurich-based Credit Suisse in July from British insurer Prudential. Investors expect him to refocus the bank’s business toward wealth management and asset management, while shrinking its investment bank
China must hasten infrastructure investment to stabilize growth: state advisor
Increased infrastructure investment is key to stabilizing China’s economic growth, a top state advisor said on Sunday, while calling on the central bank to lower the cost of financing for companies and increase overall credit. “Keeping relatively high growth of infrastructure investment is key to stabilizing economic growth” since property and manufacturing investment remains weak, said Yu Bin, head of the micro economy research department at the State Council’s Development
VW made several defeat devices to cheat emissions tests: sources
BERLIN/LOS ANGELES/DETROIT (Reuters) – Volkswagen (VOWG_p.DE) made several versions of its “defeat device” software to rig diesel emissions tests, three people familiar with the matter told Reuters, potentially suggesting a complex deception by the German carmaker. During seven years of self-confessed cheating, Volkswagen altered its illegal software for four engine types, said the sources, who include a VW manager with knowledge of the matter and a U.S. official close to
Beijing promotes low-paid college grads to startup CEOs
Quitting her job as receptionist, joining rock bands and chancing her tattoo-sleeved arm at small business ventures would once have branded college graduate Ding Jia as a rebel in China. “Entrepreneurship can be a really hard experience,” she said.
Air France to cut some jobs in 2016, rest of plan negotiable: CEO
Air France will cut less than a third of the 2,900 job cuts it proposed in a 2016/2017 plan that triggered clashes with some staff, the chief executive of parent company Air France-KLM (AIRF.PA) said on Sunday. The job cuts in 2016 would be voluntary and heavier job losses in 2017 could be avoided if talks with unions led to an agreement on alternative savings measures by the beginning of