Morgan Stanley has shaken up its trading business.
The bank has put Sam Kellie-Smith, who used to run global equity trading, in charge of fixed income and commodities.
One way to read this? In appointing a stocks specialist to run bond trading, Morgan Stanley is making clear where its focus lies.
Walmart announced its first ever mass store closing on Friday, with 269 stores worldwide set to close their doors.
Of these closures, 154 are in the U.S., including all of the company’s 102 smallest Walmart Express stores.
The Bentonville, Ark. big-box giant will abandon its Walmart Express format, focusing on existing Supercenters, its growing Neighborhood Market grocery chain and its e-commerce business, according to a statement.
Walmart said 16,000 employees will be affected by this decision, 10,000 of whom are in the U.S.
“More than 95 percent of the closed stores in the U.S. are within 10 miles on average of another Walmart, and the hope is that these associates will be placed in nearby locations,” said Walmart in its Friday news release.
BOULOGNE-SUR-MER, France — A French court convicted a British ex-soldier Thursday of endangerment for trying to spirit a 4-year-old Afghan girl from a squalid migrant camp in Calais to family members in Britain, but dropped a tougher smuggling charge and handed him only a suspended fine.
The conviction appeared to be a symbolic punishment and a victory for Rob Lawrie, who apologized for what he called an “irrational” move. His case epitomized the clash between the heart and the law amid Europe’s record-breaking migrant influx.
The State Department expressed gratitude to Iran on Wednesday for releasing 10 U.S. sailors briefly detained after their two small boats drifted into Iranian waters but denied apologizing to the controversial Middle Eastern power.
“Absolutely ZERO truth to rumors that @JohnKerry apologized to Iran over Sailors. Nothing to apologize for,” State Department spokesman John Kirby tweeted.
The dramatic crash in crude oil prices just got even more stunning. Oil plummeted below $30 a barrel on Tuesday for the first time since December 2003. The latest wave of selling leaves crude oil down 19% this year alone. It represents an incredible 72% plunge from crude oil’s June 2014 peak of almost $108.
“The fundamental situation for oil markets is much worse than previously thought,” Barclays commodities analysts wrote in a client note.
Twitter played a big role in making hashtag usage so widespread, and now the company is introducing an exclusive new ad format that utilizes the hashtag even further.
Called “conversational ads,” these ads are essentially promoted tweets. The Twitter hashtag ad will include call to action buttons with several custom hashtags the advertiser has created for their campaign. The buttons let you pick between hashtags under the tweet and then retweet the ad.
v.20 n. 1 – Released January 6, 2016
They are home to the nation’s credit elite, and they have another thing in common: the tech industry. Certain neighborhoods on the West Coast boast residents with some of the best credit, according to a new report by free credit score site Credit Sesame. Those zip codes include the main stomping grounds of Microsoft, Yahoo!, and Google.
Between the coasts, and certainly away from the tech plutocracy, the story is different. The average score for all U.S. states combined is a lowly 604, considered subprime by many lenders, said Stew Langille, Credit Sesame’s chief strategy officer.
German car maker Volkswagen has posted its first drop in VW brand sales in 11 years as the company continues to cope with its emissions scandal.
Sales of VW brand cars fell 4.8% in 2015 to 5.82 million cars from 6.12 million a year earlier.
Falling demand in China and US added to the losses as orders fell in December.
VW has promised it will have a fix in the coming weeks for the millions of US cars with defeat devices that disguised emission levels in diesel cars.
U.S. movie streaming giant Netflix just dropped the hammer and opened its service in 130 new countries, including India and Russia — but crucially not China. These new markets take Netflix, which claims 70 million customers, to more than 190 countries worldwide.
The surprise reveal came at CES 2016, where the company had expected to announce its long-awaited entry into India. Well, it did that, and then some. The move was unexpected since Netflix had slowly been building its coverage up over recent years, foraying into Asia Pacific for the first time in 2015.
