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Increase to €650 a month will stimulate the economy, says prime minister Alexis Tsipras

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Global stocks steadied in overnight trading Wednesday as Apple's solid quarterly earnings sent waves of relief through world markets rattled by persistent concerns from U.S. companies over slowing growth in China.


48

The Dow fell Monday as downbeat earnings from Caterpillar and Nvidia fuelled concerns about a slowdown in global growth.



The Dow Jones Industrial Average fell 0.84%, the S&P 500 lost 0.78%, while the Nasdaq Composite lost 1.11%.



Caterpillar (NYSE:CAT) tumbled after reporting fourth-quarter earnings that missed forecasts. The heavy equipment maker also guided full-year earnings below consensus estimates. Its share price fell 9% and dragged the Dow Jones Industrials lower by about 70 points.



Caterpillar's dour earnings and guidance triggered weakness in Boeing (NYSE:BA), Deere (NYSE:DE) and Cummins (NYSE:CMI), pressuring industrials to close more than 1% lower.



Chipmaker Nvidia (NASDAQ:NVDA) said it expected fourth-quarter slashed its guidance for the fiscal 2019 fourth quarter and reported datacenter revenue that missed estimates. It blamed declining macro conditions, particularly in China, which hurt growth in gaming and data centre bu

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sinesses. Its share price fell 14%.



As well as declining gaming and datacenter growth, lower gross margin was cited as a headwind for the chipmaker.


46

Microsoft (NASDAQ:MSFT) has just signed a three-year agreement with supermarket chain Albertsons that will make Microsoft's Azure its preferred cloud-computing platform, according to a report by CNBC. One of the considerations mentioned by the grocer for choosing Azure over rival Amazon (NASDAQ:AMZN) is that Microsoft isn't a competitor.



This is another high-profile win for Microsoft. Privately held Albertsons is the parent company of its namesake supermarkets, as well as Safeway, Vons, and more than a dozen others. The company is the second-largest grocery chain in the U.S., behind leader Kroger (NYSE:KR).



Albertsons joins a growing list of recent large cloud wins by Microsoft, as retailers and supermarket chains seek refuge in the system of a company that isn't actively competing for their customers.


45

Patrick Springer spent 20 years working for Morgan Stanley as an investment specialist. Specifically, his job was to help institutional investors make informed decisions in global equity markets. Now, despite the bitcoin market meltdown, he’s flung himself headlong into crypto becoming an advisor for Polybird Exchange. Why? Because “it’s important for people to challenge themselves at different times in their careers.”



Despite no longer working for Morgan Stanley, after two decades on the inside he’s pretty well poised to provide his opinion on how — and when — institutional investors will enter the cryptocurrency space. And he believes we’re not there yet.



Wall Street companies, he says, will adopt aspects of blockchain only if certain conditions are met. This starts with suffi

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cient demand from their existing clients. Blockchain technology also needs to provide them with significant cost savings or market share opportunities. “The demand for bitcoin futures and ETFs by core institutional investors has still not been determined yet,” Patrick states.



At the same time, he adds, “incumbents in trading, settlement, and payments already have such large market shares and current systems are reasonably efficient for existing uses that there is not a lot of incentive to be an aggressive first-mover.”


49

The production-weighted cash cost to create one Bitcoin averaged around $4 060 globally in the fourth quarter, according to analysts with JPMorgan Chase & Co.



With Bitcoin itself currently trading below $3 600, that doesn’t look like such a good deal. However, there’s a big spread around the average, meaning that there are clear winners and losers.



Low-cost Chinese miners are able to pay much less - the estimate is around $2 400 per Bitcoin - by leveraging direct power purchasing agreements with electricity generators such as aluminum smelters looking to sell excess power generation, JPMorgan analysts led by Natasha Kaneva said in a wide-ranging January 24 report about cryptocurrencies spearheaded by Joyce Chang.



Electricity tends to be the biggest cost for miners, needed to run the high-powered computer rigs used to process data blocks to earn Bitcoin.


45

Greg Jensen, co-chief investment officer of Bridgewater Associates, said he sees a more negative outlook for growth than the markets and policy makers.



“While people have certainly diminished their growth expectations and you’re hearing all about that at Davos, we don’t think they’ve done it enough,” he said in an interview on Bloomberg TV Wednesday from the World Economic Forum. “Earnings expectations particularly in the U.S. are too high, and generally the Fed and other policy makers are still expecting stronger growth than we see.”


49

Renault confirmed on Thursday that it was considering new leadership to replace embattled Chairman and CEO Carlos Ghosn, after French Finance Minister Bruno Le Maire called publicly for a board meeting to address his succession.


52
Visa Inc on Friday said Mary Kay Bowman will join as head of the business that is tasked to attract more customers to use the world's largest payments network.

Bowman joins from Square Inc , where she was head of product. Her departure is the second high-profile exit from the payments processor following the departure of its Chief Financial Officer Sarah Friar in December last year.

At Visa, Bowman will head the designing, development and delivery of new services, the company said.

Bowman's resume includes stints at Amazon.com Inc , where she was a director of global payments.
52
The South Korean electronics giants Samsung and LG have both shocked analysts with dire predictions for their operating profits during the fourth quarter of 2018.

Samsung went first, saying Tuesday that its operating profit for the quarter would be around $9.7 billion. That’s 28.7% lower than the year before — and almost 18.2% under analyst expectations.

The cause was twofold, Samsung explained. One issue is the conglomerate’s memory chip business, which is seeing weak demand. The other is heavy competition in the smartphone market, where Samsung still holds the number one spot, but has seen its share slip in the last two quarters — indeed, the whole smartphone market is currently in recession.

Chinese smartphone makers are currently on the ascendant, in particular, Xiaomi, which recently displaced Apple in the number two position. Apple’s stock plunged last week after it lowered its revenue forecasts for Q4 2018 — note that Apple is not only a competitor of Samsung’s in the s
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martphone wars but a major customer for its components.
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U.S. stock futures point to a mixed start for Wall Street on Monday; General Electric jumps on a report of a possible bid for its airplane leasing business; CES 2019 gets underway this week; Sears reportedly is preparing for a possible liquidation; Tesla breaks ground on a Shanghai factory.
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Amazon gas stations would give the company a way to generate revenue and improve its delivery network — all while collecting more consumer data.
52
Tesla has opened its Model 3 configurator for the Chinese market, allowing potential buyers of the electric sedan to design their vehicles. As could be seen in Tesla’s Chinese website, the company is only offering two variants of the Model 3 in China for now — the Long Range AWD and the Performance version. The Mid Range Model 3 RWD, the vehicle’s most affordable variant available today, is currently unavailable in the country.

The Model 3 configurator in China reflects the vehicle’s updated prices, which were rolled out after the Chinese State Council Customs Tariff Commission announced last month that it was suspending the extra 25% tariffs it placed on cars and parts being imported from the United States. With these adjustments in place, the Model 3 Performance, which was initially announced with a price of 689,000 RMB (roughly $100,000), was adjusted to 560,000 RMB (around $81,000). The Long Range AWD variant, initially listed with a price of 580,000 RMB (around $84,000), was re
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duced to 499,000 RMB (roughly $72,600).
51
Apple was the biggest story on Wall Street Thursday as shares plunged 10% to levels not seen since mid-2017 and equity analysts slashed their price targets left and right.

But the vast majority of analysts aren't retreating into bear country, with some suggesting the company's installed base is intact, and that the problems surrounding Apple — largely slowing iPhone sales — are confined to the Chinese market.

After US markets closed on Wednesday, Apple told investors it would report fiscal first-quarter revenue below prior estimates, warning mainly on weak iPhone demand in China. The iPhone accounts for a hefty 63% of Apple's total revenue, according to UBS (followed by services, at 14% of the company's total revenue), and the announcement spooked shareholders. Apple shares have now plummeted almost 40% from their October 2018 high.
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Windstream is up 25.8%, a top gainer after returning to trading action following Monday afternoon's news of the sale of its EarthLink consumer business for $330M in cash.

That's a move that firms up the balance sheet even as the company continues awaiting a decision in its debt-default trial with Aurelius Capital over the Uniti Group (UNIT +1.5%) spin-off. “We will be a more delevered company over time after selling a declining business,” a spokesman says.
55
Netflix (NASDAQ:NFLX) is expected to announce in the next few days that it has poached media finance veteran Spencer Neumann from Activision Blizzard
46

Dell returned to public markets on Friday, nearly six years after the company’s founder and Chief Executive Officer Michael Dell took it private.


48
With uncertainties swirling around General Electric (NYSE: GE) stock, investors will probably not want to bid shares higher. But, while GE made a few moves that hurt the shareholder in the short-term, they should pay off in the long-term. It cut its dividend, will launch a tender process for appointing an auditor and is set to IPO its health business. The cash preservation from the dividend cut and the asset float will stabilize the company’s balance sheet. From there, the new CEO could start the process of rebuilding the business. GE shareholders undoubtedly wonder if the pain is over yet. The short answer is that it is too early to tell.

44

On Sept. 6, the new Starbucks Reserve Roastery in Milan, the first of its kind in Europe, opened its doors and immediately triggered a cultural sensation – and divide


46

All of the major indexes have lost 16 to 26 percent from their highs this summer and fall.


47
T-Mobile US (O:TMUS) and Sprint Corp (N:S) have received approval from the Committee on Foreign Investment in the United States (CFIUS) for their proposed merger, the companies said on Monday.
44
Growth of economic equality between the sexes appears to be stalling globally as proportionately fewer women join the workforce than men, and artificial intelligence and other emerging technologies are rife with gender gaps, according to a World Economic Forum report released on Monday.

Women saw gains this year in some measures of economic parity, such as income, but declines in access to healthcare and education and political involvement, according to the report.
43

Saudi Arabia and the United Arab Emirates (UAE) have announced plans to issue a cryptocurrency for use in cross-border transactions. This, despite the fact that the Saudi Arabian Monetary Authority (SAMA) has effectively banned digital currencies in the Middle Eastern country.


46

SoftBank Group Corp (9984.T) is planning to sell its stake in Nvidia Corp (NVDA.O) early next year as the U.S. chipmaker’s shares slide, Bloomberg reported, citing people familiar with the matter. The Japanese company could make about $3 billion in profit from the transaction, the report said.


42

Canada arrested the chief financial officer of Huawei on suspicion of violating US sanctions against Iran. The CFO, Meng Wanzhou, was arrested in Vancouver on Saturday at the request of US law enforcement and is facing extradition to the US.


40
Royal Dutch Shell caved in to growing investor pressure over climate change on Monday, setting out plans to introduce industry-leading carbon emissions targets linked to executive pay.

Rivals BP and Total have already set short-term targets on reducing carbon dioxide emissions, but these are limited to their own operations.

Shell’s targets, which will be introduced in 2020, will be more extensive with inclusion of the so-called Scope 3 emissions from the burning of fuels sold to millions of customers around the world, the company said.

Monday’s move marks a change of tack for Shell Chief Executive Ben van Beurden, who had previously resisted setting hard goals, saying it would be “foolhardy” to expose Shell to legal challenges.

Shareholders have criticized Shell for previously setting long-term “ambitions” to halve carbon dioxide emissions by 2050, which lacked binding targets for implementation.

Read more at: https://www.huffingtonpost.com/entry/shell-carbon-emissions-e
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xecutive-pay_us_5c056f1de4b0cd916faebaeb?guccounter=1
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Shares of Cronos Group (NASDAQ:CRON) were up 13.2% as of 3:15 p.m. EST on Monday after rising nearly 30% earlier in the day. The big move came after Reuters reported that tobacco giant Altria (NYSE:MO) is in talks to potentially acquire Cronos Group.

Reuters cited "people familiar with the matter" as stating that Altria is seeking to expand beyond its core business into the rapidly growing cannabis market. Neither Altria nor Cronos has responded publicly to the report.
47
Amazon claims Cyber Monday was its biggest shopping day ever -- it previously said Prime Day in July this year was its largest shopping event. Over the five days from Thanksgiving to Monday, Amazon customers bought more than 180 million items from its online store as they took advantage of cut-price deals.
51
Tesla (NASDAQ:TSLA) is one of the most talked-about companies out there, and CEO Elon Musk is usually at the center of the discussion. A year full of distractions at the electric auto maker is coming to a close, and despite many investors betting against the company, 2018 is on pace to finish out with the stock trading solidly up double digits. As polarizing as Tesla and its fearless leader may be, the numbers always win out.
45
Chances are, you or someone you know is getting ready to shop on Black Friday.

The informal kickoff to the Christmas shopping season has morphed into a spectacle that helps retailers lure shoppers to their stores.

Millions of Americans participate in the bonanza. More than 70% of people who plan to shop during the holiday season will turn out for Black Friday sales this year, according to a survey from Deloitte.

It's one of the most important shopping days in the United States, but, despite a common perception, the name has nothing to do with red or black ink on a merchant's balance sheet. Black Friday started in the 1950s in Philadelphia.
44
Only half of the positions that Amazon.com Inc. AMZN, +1.42% has promised to bring to its two new headquarters in New York and Virginia will be tech jobs, government officials in both states say.

New York City officials said during a presentation Tuesday night that of the at least 25,000 jobs that the online retailer plans to bring to a new headquarters in Long Island City, Queens, 12,500 will be in tech.
44
Stocks dropped again Tuesday as losses mounted for the world's largest technology companies. Retailers also fell, and energy companies plunged with oil prices as the market sank back into the red for the year.
43
Every major cryptocurrency was down sharply on Monday morning, with many hitting levels not seen since 2017.

Bitcoin fell below $5,100, a low not seen since October 2017. Ethereum's currency, ether, fell below $155—down 25 percent over the last week. Ether's value hasn't been this low since July 2017.

The weekend's losses are a continuation of last week's selloff.
42
U.S. stocks rose on Thursday on optimism the United States and China could resolve their trade dispute, after a news report said Washington would pause further tariffs on Chinese imports.
48
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.
48
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.


44

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.


43
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."

43
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
47
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.
47
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.

47
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.
46

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.


46
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.

46
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."
42

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.


41

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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