Finance

Mahadevan pointed to several reasons why many people still preferred using cash. First, there wasn’t enough information about each digital payment method, he said. For example, there are various e-wallets, such as PayPal, and also in-app payment systems, such as GrabPay or Uber pay, or digital currencies, including bitcoin. Yet, many people don’t have a
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Michael Nagle | Bloomberg | Getty Images Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Monday, Aug. 21, 2017. Check out the companies making headlines after the bell: Finish Line shares plunged 23 percent in extended trading after the company announced its second quarter sales decreased
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It’s high time for the Federal Reserve to normalize and move ahead with raising interest rates, JPMorgan International Chairman Jacob Frenkel told CNBC on Friday. “The economy’s much more robust, labor markets are very strong and the financial markets are also strong,” he said in a “Power Lunch” interview from the sidelines of the central
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Cleveland Fed President Loretta Mester said Friday the Federal Reserve should stay on its path of monetary policy tightening, despite some recent weakness in economic data. “I want to reduce accommodation,” Mester said in an CNBC interview from the central bank’s symposium at Jackson Hole, Wyoming. Without referring to a particular Fed meeting, she said:
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Check out which companies are making headlines after the bell: Shares of Autodesk rose more than 3 percent in extended trading after the company’s second-quarter results beat estimates. The software company posted a loss of 11 cents per share — better than the 15-cent loss estimated by Thomson Reuters — on revenue of $502 million.
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Blue Apron has been a public company for less than two months. Already its stock price has been cut nearly in half, and it faces a slew of shareholder lawsuits and the departure of several executives. The confluence of these events and the magnitude of their occurrence at Blue Apron is rare. Many of them
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Mr Blankfein described the Volcker rule this month as “very cumbersome”, complaining “you have people sitting on trading desks very nervous”. Other Goldman insiders are more blunt in private, attacking Volcker as a noose tailored for the bank’s throat. Goldman declined to discuss its lobbying, but says: “As many of the regulators who implemented the
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Energy Future Holdings terminated the Berkshire agreement on Monday. Oncor would have become part of Berkshire Hathaway Energy. Buffett had been battling with fellow billionaire Paul Singer, whose fund Elliott Management was trying to cobble together a $9.3 billion deal until Sempra emerged. In a statement Monday, Greg Abel, the chairman of the Berkshire unit,
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As China‘s financial markets mature, major non-Chinese financial firms increasingly want to open funds in the country and tap the multitrillion-dollar institutional investor market there. This summer, UBS Asset Management received a license for private fund management in mainland China, and BlackRock said it plans to set up its first private fund in the country.
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What is encouraged, however, are investments that fall along the lines of China’s “One Belt, One Road” framework. That giant foreign policy plan seeks to invest billions abroad and shore up influence by strengthening China’s infrastructure and trade links with the rest of the world. Beijing is also supporting investments in energy resources exploration, agriculture,
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Ron Paul’s sell-off prediction just got more severe. The former Republican Congressman from Texas believes escalating dysfunction in Washington will create even more pain for Wall Street. “A 50 percent pullback is conceivable,” Paul said on “Futures Now” recently. “I don’t believe it’s ten years off. I don’t even believe it’s a year off. “
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Online lending startups looking to raise money now have to answer one important question that didn’t get asked much in the past: how do avoid the fate of early pioneers like Lending Club or On Deck, which have lost nearly 80 percent of their value since going public in 2014. At least that’s what Bluevine
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