Qilai Shen | Bloomberg | Getty Images Ya-Qin Zhang, president of Baidu Inc., listens during the Boao Forum For Asia Annual Conference in Boao, China, on Friday, March 25, 2016. Chinese video streaming service provider iQiyi, a unit of Baidu, on Tuesday filed for an initial public offering of up to $1.5 billion with the
[The stream is slated to start at 10 am, ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chairman Jerome Powell delivers his mandated semiannual report to Congress this week, with the first stop Tuesday at the House Financial Services committee. In addition to delivering a
Hedge funds have received their fair share of criticism for their hefty fees, but there are still reasons to invest in them, according to an expert. “There’s 15,000 hedge funds out there and I think 90 percent of those hedge funds aren’t worth the fees that people pay,” said Donald Steinbrugge, chief executive and founder
Check out the companies making headlines after the bell Monday: Fitbit shares dropped more than 11 percent after hours. The wearable technology company reported losses per share of 2 cents and revenues that missed expectations by $18 million, disappointing Wall Street. Guidance for the upcoming quarter and year were both extremely weak, significantly missing estimates
Donat Sorokin | TASS | Getty Images A girl poses for a photograph on a stone sphere monument that unidentified persons have painted with the white Bitcoin cryptocurrency symbol in Oktyabrskaya Square, Yekaterinburg, Russia. Bitcoin jumped back above $10,000 Monday morning amid broad gains in the cryptocurrency market. The largest cryptocurrency suddenly spiked in morning
The stock market rout earlier this month triggered by rising interest rates had market watchers warning that volatility was back and here to stay. The Cboe Volatility Index (VIX), which measures market expectations of volatility and is often referred to as Wall Street’s fear gauge, spiked to a multi-year high during the recent market sell-off.
While Wall Street braces for 10-Year Treasury yields to tick over 3 percent, one bond expert believes that will feel like a piece of cake compared to what may come next. Sit Investment Associates’ Bryce Doty believes investors are in “denial” over how high rates could go this year and the painful impact it could
Warren Buffett believes investors do not need to be brilliant to do well in the financial markets. The Oracle of Omaha made a winning 10-year bet with Protégé Partners in Dec. 2007 that the S&P 500 would outperform a basket of fund of hedge funds. But perhaps more interesting than how a simple index fund
Warren Buffett believes investors should avoid using borrowed money to outperform. The Oracle of Omaha explained the perils of using debt and leverage in his 2017 annual letter to Berkshire Hathaway shareholders released on Saturday. “Berkshire, itself, provides some vivid examples of how price randomness in the short term can obscure long-term growth in value.
Warren Buffett’s Berkshire Hathaway on Saturday reported a record quarterly and annual profit, benefiting from a lower U.S. corporate income tax rate. Fourth-quarter net income increased roughly fivefold to $32.55 billion, or $19,790 per Class A share, from $6.29 billion, or $3,823 per share, a year earlier. Quarterly operating profit for the Omaha, Nebraska-based conglomerate
Warren Buffett’s Berkshire Hathaway is itching to do a massive acquisition, but is having a difficult time due to elevated valuations. The Oracle of Omaha explained his buying criteria for deals in his 2017 annual letter to shareholders released on Saturday. “In our search for new stand-alone businesses, the key qualities we seek are durable
Kraft Heinz announced Friday that Warren Buffett will be retiring from its board when his term ends at the company’s upcoming annual meeting. In its statement, Kraft Heinz said Buffett decided to step down “as he decreases his travel commitments.” Alex Behring, chairman of the board, said Buffett made “many invaluable contributions” to the company.
“To support the speed, finality and sustainability required for business, we knew mining would be unsustainable because of its cost and (slow) transaction processing speeds,” said Chris Ferris, chief technology officer of open technology at IBM. Blockchain developer R3 has built its own energy-efficient blockchain for major financial institutions. They developed the permissioned blockchain Corda
Shale output growth continues to outpace forecasts. The U.S. Energy Information Administration this month said United States production could top 11 million barrels per day by the end of 2018, a year earlier than it had expected just a month ago. Heltman has pressed shale firms to show restraint even amid rising prices. And despite
Bitcoin (BTC) is the most important cryptocurrency. Most government-backed money that goes in and out of crypto goes through bitcoin, so what happens to the original cryptocurrency affects the entire market. The token’s market dominance stood at about 40 percent as of Wednesday. By my estimates, however, it’s clear bitcoin’s market dominance should return to
A fresh wave of scrutiny is washing over big state employee pension funds and money managers that invest in shares of gun makers one week after the deadly shootings in a Florida high school. New Jersey state lawmakers on Thursday moved to restrict the state’s public pensions from investing in the stocks of gun manufacturers.
Central bankers need to be careful not to increase interest rates too quickly this year because that could slow the economy too much, St. Louis Federal Reserve President James Bullard told CNBC on Thursday. Wall Street expects the Fed to raise rates at next month’s meeting, in the first of what’s seen as at least
Fed Governor Randal Quarles said in a speech Thursday that inflation running a little below target shouldn’t stand in the way of future rate increases. With the central bank expected to hike at least three times this year, the newest Fed member said he supports a continual gradual pace of increases. The Fed shoots for
The Securities and Exchange Commission charged former cryptocurrency exchange BitFunder and its founder with fraud Wednesday. The regulator alleged that BitFunder and founder Jon E. Montroll ran the operation as an “unregistered securities exchange” and defrauded users of that exchange, according to a SEC statement. “Platforms that engage in the activity of a national securities
Venezuela’s oil-backed “petro” cryptocurrency raised $735 million in the first day of its pre-sale Wednesday, President Nicolas Maduro has claimed. The Venezuelan president said on Twitter that the petro token raised more than 4.777 billion Chinese yuan, or $735 million, and that the state-backed virtual currency “reaffirms our economic sovereignty.” Tweet Tweet Caracas said that