POWERED by Chinese smartphone users splurging billions on mobile games and online shopping, tech giants Tencent and Alibaba are racing up the elite league of the world’s most valuable companies. Hong Kong-listed Tencent, famous for its games and WeChat messaging service, became the first Asian firm to break into the US$500 billion league last week — briefly overtaking Facebook as the world’s fifth biggest company by market value. ...
BLACK Friday and Thanksgiving online sales in the United States surged to record highs as shoppers bagged deep discounts and bought more on their mobile devices, heralding a promising start to the key holiday season, according to retail analytics firms. US retailers raked in a record US$7.9 billion in online sales on Black Friday and Thanksgiving, up 17.9 percent from a year ago, according to Adobe Analytics, which measures transactions ...
First-Class Catastrophe, A: The Road to Black Monday, the Worst Day in Wall Street History by Diana B. Henriques Monday, October 19, 1987, was by far the worst day in Wall Street history. The market fell 22.6 percent – almost twice as bad as the worst day of 1929 – equal to a one-day loss of nearly 5,000 points today. Black Monday was more than seven years in the making and threatened nearly every U.S. financial institution. ...
Charles Walter Simpson (1885–1971) Wheeling Gulls, Glittering Water c.1944
The US dollar was on the back foot in the week of Thanksgiving and now we are back to business with a busy week. A mix of housing data, inflation figures, and an update on GDP stand out Here are the highlights for the upcoming week. US New Home Sales: Monday, 15:00. A drop to 627K is predicted.Bill Dudley speaks, Tuesday, 00:00. The outgoing president of the New York Fed will speak in California and may clarify the Fed’s stance on ...
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