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Business News

Location American Business News for 13 April 2017
Elon Musk to Tesla's disgruntled shareholders: Buy Ford Elon Musk has some advice for investors who say they’re fed up with his iron grip over Tesla's board: buy Ford shares instead. The trash-talking tech billionaire took to Twitter late Wednesday after five major investme...
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Uber allegedly used secret 'Hell' software to spy on rival Uber used secret software code-named "Hell" to spy on rival ride-sharing app Lyft, according to a report. The program was used by Uber between 2014 and early last year to track how many Lyft drivers were available for ne...
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Fintech friction takes root in India's banking landscape As the government resolutely pushes digital payments in a bid to move India towards a less-cash economy, a look at why tension is brewing between fintech firms and large banks
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Steven A. Cohen May Have Met His Match

Barron's - 13 Apr 2017 13:34
Steven A. Cohen May Have Met His Match Cohen has been buying Match Group, Build-A-Bear and Grubhub this year after a disappointing 2016.
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Grief takes a backseat for widowed entrepreneurs

The Guardian - 13 Apr 2017 08:00
Grief takes a backseat for widowed entrepreneurs Taking over a business following the death of a spouse is a tough ask, but people in this position can look to support networks for help When Sandra Chandler lost her husband Glyn to heart failure in 2015, she didn't jus...
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Retail Sales: It Isn't the Weather This Time

Wall Street Journal - 13 Apr 2017 17:33
Weak consumer spending growth can be blamed on slower auto sales and higher savings, but could weigh on the economy.
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The 3 ways Amazon's Alexa could snag $10 billion in revenue by 2020 (AMZN) Steve Jurvetson / Wikimedia Commons Peoplelove Amazon's Echo speaker, and the digital assistant Alexa who lives inside it -- especially Amazon CEO Jeff Bezos. In February, Bezos said that not only does he have an Echo in...
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CFPB proposes 'minor' changes to HMDA rule

American Banker - 13 Apr 2017 23:08
The Consumer Financial Protection Bureau proposed a series of clarifications to its 2015 rule expanding mortgage data collection requirements that many in the industry have said is too onerous.
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Yext Is Set to Raise More Than $115 Million in Its IPO The knowledge engine priced its initial public offering at $11 on Wednesday.
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British tech turns to Silicon Valley to ward off Brexit blues Industry leaders from the north of England have embarked on mission San Francisco to woo top dealmakers in the US Theresa May's article 50 letter might have dominated the front pages in Britain but it was met with a shru...
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Beijing bans property ads promising high returns and good feng shui Beijing wants to bring down skyrocketing property prices which have made housing unaffordable for many.
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After Plunging, Syntel Shares Look Cheap

Barron's - 13 Apr 2017 13:47
After Plunging, Syntel Shares Look Cheap The IT specialist's stock could rise sharply once its health-care and banking clients bounce back.
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Investors will be taking a well-deserved break as European stock markets will go into a four-day hiatus. Here's an overview of when the region's major stock exchanges are closed around the holiday weekend.
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LSTA takes risk retention fight to the top

American Banker - 13 Apr 2017 23:08
The Loan Syndications and Trading Association is appealing directly to Treasury Secretary Steven Mnuchin to exempt collateralized loan obligation managers from rules requiring "skin in the game" of deals.
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Bill Gross: Stocks Rest on Faulty Foundation

Barron's - 13 Apr 2017 20:09
Bill Gross: Stocks Rest on Faulty Foundation Equities "are priced for too much hope," junk bonds "for too much growth," writes the fund manager.
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The Canadian government just introduced legislation to legalize marijuana Associated Press/Jae C. Hong Canada's Liberal government on Thursday introduced long-awaited legislation to legalize marijuana by July 2018, taking Prime Minister Justin Trudeau one step closer to fulfilling a key campai...
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Wheels: Online Upstarts Seek to Disrupt Used-Car Buying

The New York Times - 13 Apr 2017 18:29
Wheels: Online Upstarts Seek to Disrupt Used-Car Buying Companies like Shift appeal to millennials in particular, but experts say the traditional dealership isn't about to disappear.
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Panic now: the housing bull's turning bearish

MoneyWeek - 13 Apr 2017 17:00
A property crash always unfolds in similar ways: credit runs dry, a priced-out majority stymies demand, confidence falters. Sound familiar? Then prepare for the bear, says Jonathan Compton. The post Panic now: the housin...
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Trump's Wall Street faction is starting to win him over

Business Insider - 13 Apr 2017 16:53
Trump's Wall Street faction is starting to win him over Chip Somodevilla/Getty Images On the campaign trail, now President Donald Trump painted a picture of a new stance for the American economy: protectionist, manufacturing-focused, and scorn forWall Street's influence. Near...
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U.S. stocks edged higher in early trading Thursday as investors sized up earnings from several major banks and new data on inflation. Financial stocks led the gainers, followed by technology …
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(Reuters) - Wells Fargo & Co posted flat quarterly earnings on Thursday and warned its costs would remain elevated as the fallout from a sales practices scandal continues to impact the third-largest U.S. bank.
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Citigroup's profits rise, helped by trading business

Miami Herald - 13 Apr 2017 16:17
Citigroup reported a first quarter profit that beat analysts' expectation Thursday. Like its competitors, Citi benefited from higher trading revenue and interest rates. The New York-based bank said it earned …
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