Mounting credit concerns and lethargic profit margins will plague “weak” Citigroup earnings over the next two years, said one Wall Street research firm. Societe Generale reduced its rating on Citigroup shares to sell from hold Monday, citing deteriorating credit trends and increased loan loss provisions as detailed in the bank’s most recent earnings report. “Although
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Bruce Berkowitz is leaving Sears Holdings‘ board of directors, effective Oct. 31, the company announced Monday morning. Shares of Sears were down more than 4 percent in premarket trade on the news. Berkowitz, who serves as the chief investment manager of Fairholme Capital Management, joined Sears’ board in February of last year. Though, his relationship
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Westend61 / Josep Rovirosa | Getty Images For long-term investors, daily headlines are distractions. “Array of threats stir up markets.” “Stocks fall, bonds rally amid Korea, Irma threats and markets wrap.” What do these types of news headlines mean to an investor’s actual investment decisions? They’re the type of headlines that could encourage people to
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CNBC’s Jim Cramer remembers the days when the market declined and traders would flock to safety in “recession-proof” stocks like General Mills and Kimberly-Clark. But times have changed. Now, the “Mad Money” host sees traders fleeing to the FANG stocks, Cramer’s acronym for Facebook, Amazon, Netflix and Google, now Alphabet when their favorite sectors go
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Traditional money transfer services like Western Union charge 7 to 8 percent per $100 of money transferred from one country to another, a big price for migrant workers who want to send money home to their families. “That’s a huge cut, right?” argued Wood. But if cryptocurrency transfers can put pressure on traditional companies, those
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“Who cares about bitcoin? The world economy is so big,” Dimon said, noting the bank moves about $6 trillion in money around the world every day. In comparison, bitcoin only has a market capitalization of less than $100 billion. Twenty-four hour trading volume in bitcoin-U.S. dollars was $3.7 billion Friday, according to CoinMarketCap. “This is
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Italy began winding up two failed regional banks in June in a deal that committed up to 17 billion euros ($19 billion) of public money and put the lenders’ good assets in the hands of Intesa Sanpaolo. The government will pay 5.2 billion euros to Intesa, and give it guarantees of up to 12 billion
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