Posts belonging to Category USA



For a moment, Netflix was worth more than Disney

Will  Netflix rule the media world ?

Its market value soared above $153 billion, overtaking Disney as the most valuable media company. Netflix (NFLX) shares were up Thursday even as Disney (DIS), Comcast (CMCSA) and the broader market fell. But Disney regained the crown by the close after Netflix shares pared their gains, taking the streaming company’s market cap below $152 billion.

Netflix is still in second place ahead of Comcast, which it passed Wednesday. The cable giant is now valued at about $145.5 billion. Netflix has added millions of subscribers around the globe for the past few years. The company’s success demonstrates that its bet on original content — shows like “Stranger Things,” “Orange is the New Black, “The Crown” and “13 Reasons Why” — has paid off.

https://www.cnn.com/

Deutsche Bank mulls cutting 10,000 staff globally

City jobs in firing line

The City is braced for swingeing cuts at Deutsche Bank as the beleaguered banking giant considers cutting 10,000 jobs globally, equivalent to one in 10 of its staff, according to reports.

It is understood the redundancies will be focused in the German lender’s investment bank, which employs more than 8,000 people in the UK.

Globally the unit employs 40,000 of the lender’s total 97,000 workforce.

https://www.telegraph.co.ukcom/

Mark Zuckerberg ripped by European Parliament for dodging questions

Mark Zuckerberg’s big European test did not go well

The Facebook (FB) CEO apologized for the company’s mistakes but angered European lawmakers by dodging their questions. Zuckerberg was questioned on Tuesday by political leaders and lawmakers at the European Parliament in Brussels for about 80 minutes.

His replies left them mostly frustrated. They used the last few minutes of the meeting to complain and accused him of giving general answers. “I asked you six yes and no questions,” Philippe Lamberts, a Green party politician, said. “I got not a single answer.”

https://www.cnn.com/

The Flow, the new business culture?

Freedom, Mastery, Ownership

Video games are evil creatures that will rot your brain. Unless, of course, you’re like pro-gamer Callum Negus-Fancey and build an entire event marketing business out of what attracts you to them.  What Negus-Fancey was really after through up to 15 hours of play a day, he discovered, was the sense of flow gaming brought to him. Great games allowed him to lose a sense of time and simply focus. So his next question then became, what are the specific dynamics that create flow and foster motivation during gaming, and could those serve as the foundation for a spectacular business culture?

Negus-Fancey came up with 3 key elements that relate to flow. He’s made them the centerpiece of culture at Verve, the company he co-founded with his brother, Liam, in 2013. The business, which has approximately 150 employees and $35M in venture funding to date, helps develop brands by rewarding individuals for word-of-mouth advertising.

https://www.inc.com/

US and China to reach an agreement at trade talks

Package of  $200 billion

It will be very challenging for the U.S. and China to come to an agreement about trade this week, in part because the Trump administration has been “unclear in what it really wants,” a strategist said on Friday.

“On the one hand, the President remains very focused on the size of the bilateral trade deficit, and reportedly the Chinese has come to Washington with a package of about $200 billion worth of purchases that would certainly remedy a large portion of that deficit,” said Amy Celico, principal at the Albright Stonebridge Group, a global strategy and business advisory firm.

But on the other hand, the U.S. administration and Congress want China to change some of its behavior on unfair trade practices, and seek to put an end to subsidies for advanced technology industries and forced technology transfers.

https://www.cnbc.com/

FBI and Justice Dept. investigating Cambridge Analytica

Cambridge Analytica ties to the Trump Campaign under scrutinity

Cambridge Analytica, the highly scrutinized data firm that had ties to the Trump campaign, is under investigation by the Department of Justice and the FBI, according to The New York Times, which cited an American official and other individuals familiar with the matter.

The probe into the firm has led to prosecutors querying its former employees and banks that handled its business dealings, The New York Times reported Tuesday. However, according to The Times’ report, the investigation seems to be in its beginning stages.
Facebook announced in March it was suspending the data firm over concerns that the group had violated the social media platform’s policies and had misused the personal data of millions of its users.

https://www.cnn.com/

The richest families in the world

33 rich people listed by the Sunday Times

The Sunday Times has published its much-anticipated Sunday Times Rich List for 2018, which ranks the wealthiest people in Britain, as well as the rest of the world— and it gives readers a sneak peek into the net worth of some of the world’s most successful entrepreneurs, self-made billionaires, and family groups.

https://www.businessinsider.com/

Facebook to Launch its Own Cryptocurrency

Massive ICO

An exclusive source has confirmed to Finance Magnates that beleaguered social media giant Facebook is diversifying its product line with a cryptocurrency of its own – Facebook Coin (FBC). Users will have to register to use the coin, but Facebook will guarantee that wallets and transactions will be completely anonymous.
The development has not been officially announced, but reportedly the coin is to be launched on the Ethereum blockchain via an ICO within the next two weeks. Given the size and reach of Facebook, it seems safe to assume that the ICO will rival the 1.2 billion dollars that Telegram raised in its own funding round.

https://www.financemagnates.com/

Saudi Arabia is ready to increase its oil production

A war with Iran won’t affect global oil production

Saudi Arabia is ready to increase its oil production in response to the expected decline in Iranian crude oil for international markets following President Trump’s withdrawal from the Iran nuclear deal. That’s what an official from the Saudi energy ministry told local state news agency SPA.

Saudi Arabia supported Trump’s decision on the nuclear deal, unlike the United States’ allies in Western Europe: the heads of France, the UK, and Germany stated they are committed to upholding the Iran nuclear deal.

Russia and China—also signatories to the deal—have opposed Trump’s decision and are unlikely to make any changes to their economic relations with Iran following the U.S. withdrawal. While Russia is not a consumer of Iranian oil, China and India are—and they are unlikely to stop taking in Iranian crude despite the sanctions.

 https://www.oilprice.com/

Bitcoin’s victory

Wall Street Will SoonTrade Virtual Currency

Some of the biggest names on Wall Street are warming up to Bitcoin, a virtual currency that for nearly a decade has been consigned to the unregulated fringes of the financial world.

The parent company of the New York Stock Exchange has been working on an online trading platform that would allow large investors to buy and hold Bitcoin, according to emails and documents viewed by The New York Times and four people briefed on the effort who asked to remain anonymous because the plans were still confidential.

The news of the virtual exchange, which has not been reported before, came after Goldman Sachs went public with its intention to open a Bitcoin trading unit — most likely the first of its kind at a Wall Street bank.