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Starbucks Corp. (SBUX - Get Report) plans to lay off about 350 employees from its global corporate workforce.

CEO Kevin Johnson sent an internal memo to employees Tuesday notifying them of the layoffs, with areas including marketing, creative, product, technology, and store development being targeted for downsizing. The job cuts amount to roughly 5% of the company's global corporate workforce.
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The selloff in oil showed no signs of slowing Tuesday as crude futures fell 7%, pushing the market deeper into bear territory. And the response of oil consumers? It's alright if OPEC can't balance the market as U.S. production is what's needed in coming years.

Twelve straight days of losses -- even worse than the slump of 1984 -- have culminated in an oil price slide of almost 30%, prompting Saudi Arabia and OPEC to plan emergency supply cuts amid U.S. crude output at record highs.

In Tuesday's session, U.S. WTI settled down $4.24, or 7%, at $55.69 per barrel, after sinking to one-year low of $55.11. The U.S. crude futures market has lost about 28% since hitting four-year highs of nearly $77 in early October.
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Supported by the 2 percent increase in the price of Bitcoin, major cryptocurrencies including Ethereum have demonstrated renewed short-term momentum.


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Under Armour is doing its best to give Nike a run for its money, and not just in footwear sales. Roughly eight months after Nike’s senior management team was upended by complaints about the treatment of female employees, the Wall Street Journal has investigated Under Armour (paywall) and uncovered a culture that can charitably be described as demeaning to women.


8
Consumer electronics giant Apple (AAPL) is on a path to reaching a market value of nearly $1.5 trillion, a Wall Street analyst says. Wedbush Securities initiated coverage of Apple stock with an outperform rating and added it to the firm's "Best Ideas List."

6
The British pound strengthened 0.4% against the U.S. dollar after Bloomberg reports that U.K. Prime Minister is said to be ready to drop her demand on the " lang="en-US
8
American Express beat Wall Street's expectations for third quarter earnings, saying Thursday it had earnings per share of $1.88 on strong gains in spending by consumers and small businesses.

Wall Street had expected EPS of $1.77, as forecast by Refinitiv. Revenue was a record $10.1 billion, beating the expectation of $10.05 billion.

Profit of $1.6 billion rose 22 percent. The shares added 1.7 percent in after hours trading Thursday.
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Tesla Inc. began selling a cheaper version of its Model 3 sedan Thursday, but the price tag is still higher than originally promised and federal tax incentives that could bring down the price are set to expire.

The new version features a new mid-range battery and a starting price of $45,000, the electric car maker said late Thursday — $4,000 less than the previous starting price of $49,000. For well more than a year, Tesla TSLA, -2.90% has been touting an eventual Model S with a base price of $35,000 that will be affordable enough to appeal to the masses, but one still is not available.

7
The euro hovered near a one-week low against the dollar on Friday as the European Commission's criticism of Italy's populist budget sparked fresh concerns about political tensions in the common currency zone.

The dollar index (DXY), a gauge of its value against major peers, was 0.05 percent higher at 95.96 on Friday, having closed on Thursday at its highest level since Aug. 21. The index's rise was due to the steep fall in the euro on Thursday, which constitutes around 57 percent of the index.

The euro (EUR=) was relatively flat at $1.1454 on Friday, having fallen 0.4 percent on Thursday, its lowest level since Oct. 9 after the European Commission said Italy's 2019 budget draft is in serious breach of European Union budget rules.
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During an interview Coinbase alum Nick Tomaino stated that the valuation of the crypto market can reach a trillion dollars off of speculation alone.

In 2017, crypto mania initiated by individual investors and retail traders led the market to achieve a valuation of over $800 billion and with the entrance of institutional investors, a multi-trillion market cap could materialize.
7
Chance are, you’ve worked at least one job in your lifetime. You might even be working a job now and building your business on the side. One nice feature of a job is knowing that for every week you work, there will be a paycheck coming your way. When you work full time, you get a steady paycheck. That’s not the case with entrepreneurship.

In a business, there are a number of factors that determine your pay. You get revenue through sales, but that’s not income. Your revenue is subject to taxes and your business expenses. Too often, revenue can be sporadic, leading entrepreneurs to quit or let frustration keep them from taking action.

There is a way to create consistent revenue in your business and implement a plan for constant revenue growth. That happens when you understand and implement these four principles into your business.

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Financial services giant Fidelity is taking a huge step into cryptocurrency.

The 72-year-old firm announced the launch of a separate company, Fidelity Digital Asset Services, on Monday that will handle cryptocurrency custody and trade execution for institutional investors.

"Our goal is to make digitally native assets, such as bitcoin, more accessible to investors," Fidelity Investments Chairman and CEO Abigail Johnson said in a press release. "We expect to continue investing and experimenting, over the long-term, with ways to make this emerging asset class easier for our clients to understand and use."
7
Since Greece officially ended its decade-long economic bailout this summer, its government has been tentatively moving forward with plans to ease austerity measures on its citizens. A recently unveiled budget plan for 2019 should create a 3.5% surplus of gross domestic product, according to the International Monetary Fund, although this might not be enough to cover the €3.5 billion in handouts that Prime Minister Alexis Tsipras announced last month. As the country pulls itself out of the shadow of the economic collapse, we asked figures from Greece’s art world to reflect on the economic crisis and its effect on the arts, and to look towards the future.

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In September, I wrote two articles dealing with Alibaba Group (BABA). In the first one, I analyzed the company's multiples, and in my opinion, I substantiated the undervaluation of BABA in sufficient detail. In the second one, I presented a DCF model that indicated Alibaba's capitalization growth potential when the forecast parameters were rather pessimistic. Today, I'm going to present a third look at the current state of the company's capitalization.
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Wells Fargo ’s wealth and investment management unit logged higher profits in the third quarter, while the number of its cross-channel advisors decreased 1% from the previous quarter.

Net income for the unit, which includes Wells Fargo Advisors, private banking, Abbot Downing, Institutional Retirement and Trust, and Wells Fargo Asset Management, was $732 million, Wells Fargo said in an earnings release. That was up 2% from the year-earlier quarter thanks to a lower effective income tax rate. Profits jumped 64% from the second quarter of this year.
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Rising bond yields appear to have given stock-market investors a fright this week. There may be good reason, says one economist, in our call of the day.

Oliver Jones of Capital Economics argues that investors are right to be worried and that the market action shows they are starting to factor in the prospect of a U.S. economic slowdown in response to tighter monetary policy by the Federal Reserve. That slowdown, which he expects to take hold in 2019, would also promise to drag down stocks and bond yields.

There was no clear catalyst for the Wednesday selloff that sent the S&P 500 SPX, +1.39% and the Dow Jones Industrial Average DJIA, +1.26% to their biggest one-day drops since February and the tech-heavy Nasdaq Composite COMP, +2.03% to its biggest plunge since June 2016. And that selloff was followed by another rout Thursday that left the Dow with a 2-day loss of nearly 1,400 points.

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It should have been an ideal year for digital currencies, with government-backed currencies dragged down by ongoing Brexit concerns and trade tension between the U.S., China and European Union.
13
Sears, which was once the largest retailer in the world, is now reportedly facing bankruptcy.

The company, which hasn’t turned a profit since 2010 and is $134 million in debt, recently approached several banks to prepare for bankruptcy filing, CNBC reported Wednesday.

Shares plunged almost 20 percent on the news, and are set to open at a record low.
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Google just announced it has come up with new way to thwart telemarketers--heck, to completely destroy their business model. It's brilliantly simple, and it seems like it will actually work.
It also comes just in the nick of time. By 2019, it's estimated that nearly half of all incoming cell phone calls will be spam. And while the FCC has started coming down hard on some of the worst offenders, it hasn't made much of a dent.
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It’s been just a week since Amazon announced a new $15-an-hour pay minimum for its warehouse and customer service workers, but the backlash is in full force.

In conversations with several media outlets over the last few days — including Wired, the New York Times and Recode — some Amazon warehouse workers believe the new pay change will actually result in a lower total compensation than they earned under the previous pay structure.

“It is a pay raise in minimum wage, but not necessarily a pay raise,” one Amazon employee, who has worked inside company warehouses for five years, wrote to Recode.

In this instance, the upset employee already made $15 an hour, plus between several hundred dollars and a couple of thousand dollars a year in bonuses, partly based on attendance, he said. Amazon also previously granted some workers, including this one, company stock — currently valued at around $1,880 per share.

But with the new increase in minimum pay at Amazon, the company is removi
Read More
ng incentive-based bonus pay right before the busy holiday season, where bonus pay used to increase. Amazon will also no longer give away stock grants for hourly workers.
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A weeklong holiday for Chinese markets meant investors had an entire five days of news and data to digest in just one session, including an escalation of the trade war between China and the US.
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Apple, Google and Amazon are the top three most valuable brands in the world, according to an annual report that underlines the dominance of the US tech companies.

Interbrand, which assigns a dollar value to each brand based on factors such as financial performance and brand strength, ranked Apple first in 2018 with a brand value of $214bn. In August, Apple became the first public company with a trillion dollar valuation.

Apple and Google have held the top two spots for six consecutive years, according to Interbrand’s Best Global Brands report, while Facebook slipped one place in 2018 to ninth after being the fastest growing brand for five years.
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Emerging-market equities look set to rally up to 15 percent over the next six months as developing-nation assets close the performance gap with their U.S. peers, according to JPMorgan Chase & Co.

Key macroeconomic risks like the trade war are largely priced in to the asset class, according to JPMorgan. Meanwhile, developing-nation growth is on track to converge with economic expansion in the developed world next year, Marko Kolanovic, the bank’s global head of macro quantitative and derivatives research, said in an interview Thursday on Bloomberg TV.
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Mercedes-Benz had been considering moving production to the UK ahead of the EU referendum in 2016, but decided against the move after the vote for Brexit, the carmaker’s chief executive has revealed.
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Asia markets were largely negative on Tuesday, as ties between the U.S. and China appeared to have taken a turn for the worse.

South Korea's Kospi closed 1.25 percent lower at 2,309.57, despite data showing the country's year-on-year output to be above forecasts.

Down Under, the ASX 200 ended the trading day lower by 0.75 percent at 6,126.2.
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Facebook may be fined as much as $1.63 billion by an EU privacy watchdog for a recent data breach announced Friday that compromised the personal information of more than 50 million users.

According to the Wall Street Journal, Ireland's Data Protection Commission, Facebook's lead regulator in Europe, said on Saturday it demanded more information about the nature and scope of the hack, which may have violated the EU's new privacy law called the General Data Protection Regulation.
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Rising oil prices are prompting forecasts of a return to $100 a barrel for the first time since 2014, creating both winners and losers in the world economy.

Exporters of the fuel would enjoy bumper returns, giving a fillip to companies and government coffers. By contrast, consuming nations would bear the cost at the pump, potentially fanning inflation and hurting demand.

The good news is that Bloomberg Economics found that oil at $100 would mean less for global growth in 2018 than it did after the 2011 spike. That’s partly because economies are less reliant on energy and because the shale revolution cushioning the U.S.
26
United Launch Alliance announced Sept. 27 that it has selected Blue Origin to provide the main engine for its next-generation Vulcan launch vehicle, a decision long expected by the industry.

In a statement, ULA said it will use a pair of Blue Origin BE-4 engines in the first stage of its Vulcan rocket, expected to make a first launch in mid-2020. The company did not disclose the terms of its agreement with Blue Origin.

“We are pleased to enter into this partnership with Blue Origin and look forward to a successful first flight of our next-generation launch vehicle,” said Tory Bruno, president and chief executive of ULA, in a statement.

The announcement comes four years after the companies first announced their partnership to develop the BE-4. While ULA also considered the AR1 engine being developed by Aerojet Rocketdyne, Bruno long made clear that BE-4 was the front-runner to power Vulcan.
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Tesla Inc. Chief Executive Officer Elon Musk was accused by the Securities and Exchange Commission of misleading investors when he tweeted that he had funding lined up to take the company private.

The agency said Musk fabricated the claim in his August tweet, which sent Tesla shares higher.

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Amazon has made its first foray in prefab construction, investing in a company known for sustainable construction and smart home technology.

Today’s announcement of Amazon’s investment in Plant Prefab, a startup based in Rialto, California, comes on the heels of the company’s announcement of a new line of Alexa-enabled smart home devices, suggesting a potential new avenue of smart home development, experimentation, and expansion.

Amazon already has a deal with Lennar, the nation’s largest homebuilder, to pre-install Alexa in all the company’s new homes.
21
Over the past six months, Sears Holdings (NASDAQ:SHLD) CEO Eddie Lampert -- who is also the company's largest shareholder and largest creditor through his ESL Investments hedge fund -- has made several proposals to inject liquidity into Sears by buying various assets.

ESL Investments laid out its latest -- and boldest -- restructuring proposal in an SEC filing on Monday. While the proposal held out the prospect of dramatically slashing Sears Holdings' debt, it's very unlikely that third-party bondholders will go along with the plan. As a result, Sears could be forced to file for bankruptcy even sooner than I had previously expected -- perhaps before the end of 2018.
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Farmers across the United States will soon begin receiving government checks as part of a billion-dollar bailout to buoy growers experiencing financial strain from President Donald Trump’s trade disputes with China.
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Wells Fargo plans to cut costs by imposing a 5 percent to 10 percent workforce reduction that could affect up to 26,500 positions
28
China will not be content to only play defense in an escalating trade war with the United States, a widely read Chinese tabloid warned, as U.S. President Donald Trump was expected to announce new tariffs on $200 billion in Chinese goods as early as Monday.

The United States and China have already levied duties on $50 billion worth of each other's goods in an intensifying row that has jolted global financial markets in the past few months.

Last week, the U.S. Treasury Department invited senior Chinese officials, including Vice Premier Liu He, to more talks on the tariff dispute, though scepticism remained high among trade observers on both sides over the prospects of a breakthrough.

China's Foreign Ministry reiterated that the escalation of the trade conflict was not in anyone's interest.
25
The cryptocurrency tumble has now surpassed the Nasdaq Composite Index’s 78% peak-to-trough decline after the dot-com bubble burst in 2000.
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Shares of Snapchat's parent company now trade for less than $10 a share, more than 40% below their IPO price. The departure of chief strategy officer Imran Khan, a former Wall Street analyst, is the latest blow to Snapchat.
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Alibaba Group Holding Ltd's billionaire co-founder Jack Ma will announce a succession plan on Monday (Sept 10) to hand the reins of his sprawling empire to a new generation of leaders but will remain executive chairman for the time being.

Ma will announce the plan on his 54th birthday and the handover strategy will stretch over a significant period of time, the South China Morning Post (SCMP) newspaper reported citing a company spokesman.
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One year ago, Amazon announced that it intended to build a second headquarters, dubbed HQ2. But Amazon didn’t have a specific destination in mind to build its headquarters — instead, it invited any metropolitan area in North America with at least 1 million people to pitch Amazon on why they should be chosen.
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Boston University professor Laurence Kotlikoff is on a mission to change the way you save for retirement.
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Which is the show, and which is the sideshow?

Depending on your perspective, you may be a bit conflicted as you digest the Friday morning news surrounding Tesla Inc. In a premarket SEC filing, the company said its chief accounting officer, Dave Morton, was quitting, effective immediately. He’d only been on the job for a month.

Executive changes at Tesla are closely watched, and this one was made especially notable by the more-than-boilerplate statement in the filing, attributed to Morton. “Since I joined Tesla on August 6th, the level of public attention placed on the company, as well as the pace within the company, have exceeded my expectations,” Morton said. “As a result, this caused me to reconsider my future.”
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If you think that Bitcoin has hit bottom after the latest round of violent price drops, think again.

While the world’s largest cryptocurrency is down 65 percent since its peak in December, technical indicators suggest there’s worse to come. Bitcoin has consistently had lower peaks since its apex in December, with each new high lower than the last. In addition, the Directional Movement Index signals the bullish buying pressure came to an abrupt end, and a new selling pressure trend has started.
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Argentina's peso gained more than 1 percent and financial stocks surged on Wednesday as government officials in Washington sought emergency funding to stem an economic crisis.