Spotify will go public on April 3 as the world’s largest streaming company lists on the New York Stock Exchange. Paul Vogel, the Swedish company’s head of investor relations, made the announcement at the start of a day of briefings to potential funders in New York. Spotify had announced the long-awaited public listing on February 28… (more…)

Spotify to go public on April 3

Spotify will go public on April 3 as the world’s largest streaming company lists on the New York Stock Exchange. Paul Vogel, the Swedish company’s head of investor relations, made the announcement at the start of a day of briefings to potential funders in New York. Spotify had announced the long-awaited public listing on February 28… Read more

Broadcom withdraws Qualcomm offer after Trump blocks bid

Singapore-based Broadcom said Wednesday it was abandoning efforts to take over US smartphone chipmaker Qualcomm, two days after its bid was blocked by President Donald Trump over national security concerns. “Although we are disappointed with this outcome, Broadcom will comply” with the order blocking its effort to buy Qualcomm, it said in a statement. Broadcom said… Read more

Chinese billionaire Li Shufu buys biggest single stake in Daimler

Chinese billionaire Li Shufu has bought a near 10-percent stake in Mercedes-Benz maker Daimler, making him the German group’s largest single shareholder, a stock market filing showed Friday. Li, who chairs auto giant Geely Automobile Holdings, bought a 9.69-percent stake in the carmaker, worth around 7.2 billion euros ($8.9 billion), according to the filing. The size… Read more

Why the stock market abruptly turned into a roller-coaster ride

Financial adviser Todd Morgan has plenty of rich clients in Southern California who needed to hear a soothing word about the stock market’s wild gyrations this past week. “This calls to mind my favorite saying, ‘The market will do whatever it has to do to prove the most people wrong,'” said Morgan, chairman of Bel Air… Read more

UK bank bans bitcoin purchases via credit card

Lloyds Banking Group on Monday joined major US banks in banning purchases of bitcoin and other cryptocurrencies via credit card amid debt and security concerns. An LBG spokesman said the ban was across its Lloyd Bank, Bank of Scotland, Halifax and MBNA branded credit cards. In a brief statement, he said LBG does “not accept credit… Read more

China looks to stamp out cryptocurrency trading

China plans to stamp out all remaining cryptocurrency trading in the country by blocking access to overseas-based websites and removing related applications from app stores. The moves were outlined in a report Sunday by Financial News, a publication under the People’s Bank of China, which said the aim was to snuff out the “dying cinders” of… Read more

Bitcoin Bubble 2018: Investment Warnings From The Experts

This article was originally published in the Motley Fool. This is all the more impressive given how difficult it is to purchase and store Bitcoin — at least, relative to buying stocks or bonds or CDs or most traditional financial products. While it’s tough to look at that chart and not think this is a speculative… Read more

Bitcoin slides to below $10,000

Bitcoin, the dominant digital currency, extended a slump Wednesday following a recent surge to trade below $10,000 for the first time since the start of December. Around 1410 GMT, bitcoin stood at $9,807.56 to record its lowest value since December 1 and a plunge of almost 50 percent since reaching a record high on December 18,… Read more

Bitcoin bombs, cryptocoins crash on regulation fears

Bitcoin, the best known of hundreds of ‘virtual’ coins, slumped Tuesday to a six-week low below $12,000 as analysts blamed a rush by various jurisdictions to regulate the sector. The final weeks of last year were marked by bitcoin mania as the unit topped $20,000, but it lost some 20 percent in Tuesday trading which saw… Read more

Cryptocurrency rivals snap at Bitcoin’s heels

Bitcoin may be the most famous cryptocurrency but, despite a dizzying rise, it’s not the most lucrative one and far from alone in a universe that counts 1,400 rivals, and counting. Dozens of crypto units see the light of day every week, as baffled financial experts look on, and while none can match Bitcoin’s $200-billion euro… Read more

South Korea Mulling Tougher Cryptocurrency Regulation

South Korea may be a global hub for cryptocurrency trading, but that doesn’t mean the government is happy about the fact. If anything, the country’s financial regulator is in talks with counterparts in neighboring China and Japan to cooperate on regulating the industry. According to a report Monday by South Korea’s Yonhap News Agency, the Financial… Read more

Fund a Kickstarter without losing your money—or your mind

Bring your common sense to crowdfunding. You want to fund an amazing tech Kickstarter. But how can you be sure they’ll deliver on their promises? Kickstarter The crowdfunding website Kickstarter is a fantastic showcase for innovation and creativity. Through its interface, you can financially support the independent creators who make music, movies, and gadgets. In exchange,… Read more

Investors flush with $26 trillion to strong-arm corporations on climate change

Beware. President Donald Trump may have put a stop to America’s participation in the Paris accord, citing its burdensome regulatory climate change mandates and cost-hiking economic downers. But a plot afoot at the Paris climate summit would moot Trump’s action and make most of America a participant in the accord, anyway. Climate Action 100+ tweeted the… Read more

Gun Stock Shares Skyrocket After Las Vegas Shooting

Another mass shooting and another surger for gun stock prices — a typical pattern for American investors. In the hours after the worst mass shooting in American history in Las Vegas Sunday, shares of American Outdoor Brands, formerly Smith & Wesson, jumped 3.41 percent to $15.77 by just after noon Monday, while Sturm Ruger rose 2.9… Read more

AIG stripped of ‘too big to fail’ label by US regulators

Insurer AIG will no longer face the stricter federal oversight of a “too big to fail” institution following a vote Friday by a panel of top US financial regulators. The Financial Stability Oversight Council voted 6-3 to strip AIG of the designation that its failure could “pose a threat to US financial stability,” according to a… Read more

Norway wealth fund hits ‘milestone’ $1 trillion value

Norway’s sovereign wealth fund, the largest in the world, on Tuesday reached the value of $1 trillion dollars for the first time, the Norwegian central bank, which manages the fund, said. This amount equals nearly $189,000 (157,000 euros) for each of the 5.3 million people living in Norway. Established in the 1990s to manage the Norwegian… Read more

IPO of ‘Angry Birds’ owner takes flight in Helsinki

Finland’s Rovio, creator of the hugely popular smartphone game “Angry Birds”, launched its initial public offering (IPO) on the Helsinki stock exchange on Monday, valuing the company at almost 900 million euros ($1.1 billion). Rovio said it was putting 37 million shares up for sale at between 10.25 and 11.50 euros apiece in the stock flotation.… Read more

Trading Diary: Hedging our portfolios as stock market wavers

  1. WASHINGTON, August 22, 2017 – As we noted in our companion column today, stocks attempted a modest comeback Monday and actually succeeded – modestly – due to investors’ attention being diverted elsewhere, namely to the rare, cross-North America/U.S. solar eclipse. That event found many people sneaking out of work (and away from trading desks) to head… Read more

This Blockchain Startup Could Revolutionize Real Estate Investments

On Tuesday, an initial coin offering launched by the real estate startup Propy Inc. sent shockwaves throughout the blockchain community. The tokenized fundraising campaign raised more than $5 million, attracting investors like billionaire TechCrunch founder Michael Arrington. Demand for Propy’s tokens, called PRO, was so high it overloaded the Ethereum network. Although the final earnings tally… Read more

BMO Financial Group Wins “ESG Best Practices” Award

(3bL Media/Justmeans) — BMO Financial Group was named the winner of the Thomson Reuters/S-Network ESG Best Practices Award for 2017 at the annual “Summer in the City/CSR Investing Summit,” held in New York City. The award recognizes the company for “superior ESG ranking and corporate best practices.” BMO’s high ESG scores placed it above all ranked… Read more

Dow Jones Closes Above 22,000 — a 6th-straight Record High

The Dow Jones Industrial Average set a sixth-straight record Wednesday, closing above 22,000 for the first time, but experts point out that whatever goes up must always come down. The Dow closed up a fraction at 22,016. Healthy earnings reports from computer technology giant Apple, the world’s largest publicly traded company, and airplane manufacturer Boeing were… Read more

China, Russia sign bank deal to open investment doors

China Development Bank signed a framework agreement with Russian Vnesheconombank on Tuesday to participate in Russia’s $2 billion innovation projects. The document was signed by Hu Huaibang and Sergey Gorkov, chairmen of the two respective state-owned banks, in the presence of Russian President Vladimir Putin and Chinese President Xi Jinping, who is paying an official visit… Read more

? MetLife Invests $36B in Impact-Related Projects to Push Sustainability

Several global companies now pursue sustainability goals such as building stable markets, protecting the environment and improving social inclusion. Some of these companies are leading from the front by ensuring that their business strategy is aligned with universal values in order to create a positive environmental and social impact. MetLife is working to make a positive… Read more

China punishes irresponsible securities brokerage firm

BEIJING – China’s securities regulator has punished the Chongqing-based Southwest Securities for not exercising due diligence on the reorganization of two companies. Southwest Securities served as the independent financial adviser for the reorganization of Shenzhen-listed Anshan Heavy Duty Mining Machinery Co with Nine Top Group, an office service company based in East China’s Zhejiang province. The… Read more

How to Spot the Lies Financial Advisers Tell

When it comes to getting advice—especially financial advice—truth can be such a relative thing. If you’re an individual investor, you probably know exactly what I mean. And the federal government isn’t exactly helping. The administration just killed a fiduciary rule that would have required commission-based brokers and insurance agents to disclose conflicts of interest and compelled… Read more

House votes along party lines to repeal key Dodd-Frank financial reforms

WASHINGTON — The House voted along party lines Thursday to repeal many of the stricter regulations enacted after the 2008 financial crisis, taking the first step in a long-held Republican desire to roll back landmark rules they complain are hurting banks, restricting consumer credit and slowing economic growth. The legislation, which faces major hurdles in the… Read more

ExxonMobil Shareholders Vote On Exposing Corporate Lobbying

On Wednesday, ExxonMobil investors are scheduled to gather in Dallas for the company’s annual shareholder meeting. There they will vote on nine shareholder proposals, one of which would require the world’s largest publicly traded oil and gas company to fully disclose its spending on state and federal lobbying. The proposal, which is part of a broad… Read more

What To Invest Your Money In And 4 Other Pieces Of Financial Advice

Q&A site Quora. Photo: Quora This question originally appeared on Quora. Answer by Tom Brown. Remember one fact that “The more you risk the more you can earn”. And one more advice for you, you should try to avoid the great mistakes (how to avoid them I will write below). You know, everyone can make a… Read more

Trump-mageddon: Should investors stay or should they go?

WASHINGTON, May 19, 2017 – It began with a big bounce after a poor opening bell on the morning of November 9, 2016. The Great Trump Stock Market Rally continued almost unabated until it began to show signs of faltering in February, 2017. Things got dicier in March and April, as stocks bobbed to and fro,… Read more

Trump resignation could mean a 1,000-point spike in Dow Jones average, analyst claims

In a CNBC interview Wednesday, stock market analyst Jeremy Siegel predicted the Dow Jones Industrial Average would skyrocket in the event that Donald Trump were to resign the presidency. “If Donald Trump resigned tomorrow, I think the Dow would go up 1,000 points,” said Mr. Siegel, a professor at Mr. Trump’s alma mater, the University of… Read more

How Does Warren Buffett’s Berkshire Hathaway Make Money?

How Does Warren Buffett’s Berkshire Hathaway Make Money? This article originally appeared on the Motley Fool. Warren Buffett’s Berkshire Hathaway (NYSE:BRK-A) (NYSE:BRK-B) is a truly massive operation with a $400 billion market cap. At its core, Berkshire Hathaway is an insurer that throws off a lot of cash. And while we’re big fans of the […]

Wells Fargo may have created 1.4 million more unauthorized accounts than estimated, attorneys say

Wells Fargo & Co. may have opened as many as 3.5 million unauthorized checking, savings and credit card accounts over the past 15 years, far more than the bank and federal regulators reported last year, according to a new court filing. For months, the number of potentially unauthorized accounts that bank employee credit card applications may… Read more

The Future Of Warren Buffett’s Berkshire Hathaway In 5 Questions And Facts

This article originally appeared on the Motley Fool. Warren Buffett and Charlie Munger fielded several hours of questions from Berkshire Hathaway’s (NYSE:BRK-A) (NYSE:BRK-B) shareholders at the company’s annual meeting. As always, the topics were as varied as the answers were colorful. Here are five highlights investors should know. 1. How will Berkshire spend its $96.5 billion… Read more

Entrepreneurs Outside US Can Attract Silicon Valley Backing

The venture fund 500 Startups has been making a splash in Southeast Asia, most recently with Khmerload, a Cambodian entertainment news website modeled after the American media giant Buzzfeed. Binh Tran, a venture partner with the firm, sat down with Sophat Soeung of VOA’s Khmer service to talk about how entrepreneurs in developing countries could attract… Read more

Marijuana Stocks Are Sky High

This article originally appeared on the Motley Fool. The marijuana industry is the hottest thing since sliced bread, and marijuana stocks are thriving as a result. Here’s a quick rundown of how some of the industry’s largest players’ stock prices have performed over the trailing 12 months: GW Pharmaceuticals: up 35% Canopy Growth Corp.: up 248%… Read more

What’s Behind Twitter’s Blowout First Quarter?

This article originally appeared on the Motley Fool. Twitter (NYSE:TWTR) reported first-quarter earnings results that weren’t nearly as bad as many had expected. While the company suffered its first-ever year-over-year sales decline, it managed to come in well above the low expectations it had set for investors back in February. Twitter reported revenue of $548 million… Read more

Sinopec to buy interest in SECCO from BP for $1.68 billion

Asia’s largest refiner Sinopec has agreed to purchase a 50 percent stake in the Shanghai SECCO Petrochemical Company Limited from BP, the company announced on Thursday evening. Gaoqiao Petrochemical Co Ltd, a 100% subsidiary of China Petroleum & Chemical Corporation (Sinopec), has agreed to buy the 50 percent stake for $1.68 billion. ECCO is currently owned… Read more

2017 Green Transition Scoreboard® Tracks Private Green Investments At $8.1 Trillion

Today, the latest Green Transition Scoreboard® (GTS) found that, despite Trump’s anti-green policies, private green investments now total more than $8.1 trillion USD ($8,133,456,730,370). Published annually since 2009, the GTS is a global measure of private green investment in five green sectors: 1) Renewable Energy, 2) Efficiency, 3) Life Systems (water, waste, recycling, community investing, e-learning… Read more

Tesla: Absurd level of risk, Cult of Elon Musk equal disaster

WASHINGTON, April 25, 2017 – For the better part of at least two years, I’ve more or less held my opinion and my pen in check when it comes to the absurd mythological and virtually fictional character of Elon Musk, tech god and miracle worker. That’s because all Musk has done in recent memory is promote… Read more

It’s time to harness the power of African youth

Young people can offer the much-needed human capital to speed up economic growth and foster sustainability on the continent Africa, the continent with the biggest potential for growth because of untapped opportunities, is home to 12 percent of global oil reserves (Nigeria, Algeria, Angola, Sudan and new potential sources like Kenya); 40 percent of the world’s… Read more

China’s economic growth to contribute $125b to Australian economy: Expert
CANBERRA — Strong growth of the Chinese economy, coupled with the Reserve Bank of Australia’s (RBA) decision to cut interest rates to record lows, are expected to deliver a AU$165 billion ($125 billion) boost to the Australian economy, according to Deloitte Access Economics. Recently, China reported an annual growth rate of 6.9 percent for the first… Read more
What to Know About Investing in the Internet of Things
This story originally appeared on The Motley Fool. The stock market today offers investors a plethora of compelling portfolio candidates to take advantage of the Internet of Things — that is, the trend of adding internet connectivity to everyday things in our lives — ranging from early-stage businesses to massive, well-established tech juggernauts. Let’s explore the… Read more
Millennials Can’t Buy Homes Because They’re Saddled With Student Debt
While 86 percent of Americans between the ages of 18 and 24 see owning a house as more affordable than renting —and 68 percent view their first house as a “stepping stone” to a dream home — just one in five think they can make a down payment, according to a new report released Wednesday by… Read more

At $17 a share, company behind Snapchat is worth nearly $24 billion

LOS ANGELES — The company known for its Snapchat messaging app generated the largest initial public offering in Southern California history on Wednesday, raising at least $3.4 billion while valuing the firm at $23.8 billion. Snap Inc.’s IPO is the most lucrative in the U.S. since online shopping company Alibaba raised $22 billion in 2014 and… Read more