Month: January 2018

Until now, an illegal trading technique called “spoofing” has been associated with two-bit commodities outfits and lone wolf traders operating in the shadows of the markets. But prosecutors revealed on Monday that their investigations have hit the big time. Deutsche Bank, UBS and HSBC will collectively pay nearly $47 million to settle civil regulatory charges
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Payroll and tax services provider Automatic Data Processing raised its full-year profit and revenue forecasts as the company expects to benefit from the U.S. corporate tax reform. The company said it expects revenue growth of 7 percent to 8 percent in fiscal 2018, compared with its earlier forecast of 6 percent to 8 percent. U.S.
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South Korea has uncovered cryptocurrency crimes worth 637.5 billion won ($594.35 million), which includes illegal foreign exchange trading, a statement released by the country’s customs service said on Wednesday. The statement said domestic investors bought 1.7 billion won worth of cryptocurrencies, which they sent to overseas partner companies through virtual wallets. The transfers were then
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Kohl’s could be the biggest winner in retail as regional department store chain Bon-Ton restructures its store fleet, according to Jefferies. “Bon-Ton’s closures could be a cherry on top” for Kohl’s, analyst Randal Konik said in a note to clients. Bon-Ton on Monday updated analysts and investors on its ongoing negotiations with lenders, having recently
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Are we nearing the peak of earnings growth? We are riding an historic wave of higher earnings and higher earnings revisions on the back of tax cuts and the global economic expansion. However, just in the last couple weeks, analysts have begun to introduce 2019 earnings estimates for the companies they cover. The good news:
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In the latest sign of tremendous interest in cryptocurrencies, more than 1 million people have joined the waitlist for Robinhood Crypto in just four days. No-fee stock trading app Robinhood announced Thursday it was rolling out commission-free trading in digital currencies bitcoin and ethereum beginning in February. Although the service will initially only be available
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Wynn Resorts stock remains in danger of dropping further if booking companies decide to avoid the casino group, according to one senior gaming analyst on Monday. Shares of the company plunged more than 10 percent Friday after The Wall Street Journal reported allegations that billionaire CEO Steve Wynn engaged in sexual misconduct over many years.
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Graham Crouch | Bloomberg | Getty Images Nadiem Makarim, chief executive officer of Go-Jek. Google has made an investment in Indonesian ride-hailing start-up Go-Jek. The move is part of Google’s ambition to grow Indonesia’s digital economy and start-up scene, the tech giant said in a statement Monday. “Go-Jek is led by a strong Indonesian management
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FedEx says it’ll be giving wage increases, bonuses and make a voluntary $1.5 billion contribution to the company’s pension plan, citing recent tax reform legislation. The package delivery company follows others doing the same, including Home Depot, Disney, Starbucks, and Walmart. FedEx said Friday that it’ll raise compensation by more than $200 million, with about
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