Marcus Schenck had been itching to work on deals — so much so that the chief financial officer of Deutsche Bank AG would spend a day per week with clients, a habit that didn’t always sit well with colleagues, according to a person familiar with his thinking. Now the former Goldman Sachs Group Inc. partner has a chance to show he can bring in the revenue that Germany’s biggest lender so urgently needs.
Day: March 6, 2017
China Seen Sustaining Record Fintech Investments, Accenture Says
Chinese financial-technology investments this year may exceed 2016’s record $10 billion as companies continue to raise funds for expansion and big banks grow their digital services, according to Accenture Plc. The country’s financial-services giants will probably ramp up investments in areas including artificial intelligence, blockchain, so-called big data and cyber-security to improve their product offerings, Albert Chan, managing director of China financial services at Accenture, said in an interview last week.
IBM’s Deal With Salesforce Highlights the Company’s Unique AI Position
Given how much several tech giants throw around the terms “artificial intelligence,” “machine learning” and “deep learning,” it’s easy to assume that they’re all trying to do similar things. And in some cases, the companies are indeed using AI to tackle problems that have much in common, particularly when it comes to making sense out of real-life sounds, images and dialogue.
4 Trump plans piecemeal budget release, obscurring broader fiscal picture
The Trump administration’s first budget proposal this month will not include any specific changes to the tax code or big programs like Medicare and Social Security, an administration official said, A focusing instead on boosting A defense spending and cutting other programs that are annually authorized by Congress. This budget proposal is expected to be released around March 16. Other budget proposals will come at a later date, the Office of Management and Budget spokesperson official said.
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Jack Brewer talks NFL free agency, financial literacy
Mar. 06, 2017 – 4:59 – Jack Brewer, former NFL star and CEO of The Brewer Group, talks NFL free agency, financial literacy and the national anthem policy in pro sports.
How this Hawaii politician aims to help the homeless
Mar. 06, 2017 – 3:18 – Hawaii State Senator Dr. Josh Green on his new bill that would allow doctors to prescribe housing facilities to the homeless.
GOP Needs Trump’s Salesmanship to Advance New Obamacare Plan
Republicans in Congress hope a new draft bill released Monday night will jump-start their stalled Obamacare repeal effort, though the most important factor may be how hard President Donald Trump works to sell it to lawmakers. Two House committees released long-awaited draft measures that House Speaker Paul Ryan and GOP leaders negotiated with the White House, and made expedited plans to take up the measures Wednesday.
Frontier Communications: Cramer’s Top Takeaways
Jim Cramer says while Frontier’s dividend is safe for now, the loss in the share price dwarfs that of the yield. When investors see a super-high dividend yield that is outpacing the competition, something is very wrong.
Domino’s Pizza: Cramer’s Top Takeaways
Patrick Doyle, CEO of Domino’s Pizza, tells Jim Cramer how his company is getting a bigger piece of the pie. In an “Executive Decision” segment, Cramer again spoke with Patrick Doyle, president and CEO of Domino’s Pizza , the pizza chain that delivered blowout earnings last week, including a 12.2% increase in domestic same-store sales.
Breeders’ Cup CEO Previews 2017 Event
The “Super Bowl of Horseracing,” which drew such stars as Elizabeth Banks and Susan Sarandon to Santa Anita in 2016, heads to Del Mar, California Nov. 3-4. The Breeders’ Cup hails as the most prestigious horse race in the world, and this year, the event will head to the historic Del Mar track in Del Mar, Calif from Nov. 3 to 4 – following the Triple Crown races that take place in May and June.
IBM, Salesforce Agree to Partner on Artificial Intelligence
International Business Machines Corp. and Salesforce.com Inc. agreed to mingle their artificial-intelligence technologies in a bid to boost sales of data-analytics offerings. The companies Monday announced plans to offer integrated AI services that weave the broad human-like conversation and learning capabilities of IBM’s Watson with Salesforce’s more sales-oriented Einstein technology.
To Reach Your Savings Goals, Take These Steps
Saving money is often easier said than done, but it doesn’t have to be difficult. Setting clear goals can motivate you to take action, focus on what’s important and steer clear of overspending.
Republicans Unveil Bill to Repeal and Replace Obamacare
Republicans unveiled their long-awaited legislation to repeal and replace the Affordable Care Act, taking them a step closer to fulfilling a vow they’ve been repeating since the health law’s passage in 2010. Called the American Health Care Act, House Republicans’ proposal released Monday would unwind much of Obamacare over the next three years.
CSX Names Harrison CEO, Warns He’ll Exit Unless Paid $84 Million
CSX Corp. appointed Hunter Harrison as chief executive officer effective immediately, entrusting the industry veteran with the task of turning around North America’s least efficient railroad. He’ll stick around as long as shareholders are willing to meet his pay demands.
Exxon Pleases Trump With $20 Billion Shale Export Building Spree
Exxon Mobil Corp.’s $20 billion building spree in the heart of the U.S. chemical and refining industry will create 45,000 jobs and boost U.S. efforts to feed Asian demand, the company’s new leader said. President Donald Trump couldn’t be happier.
Qualcomm’s $47 Billion Purchase of NXP Could Pass Milestone Tuesday
Qualcomm ‘s $47 billion acquisition of NXP Semiconductor could pass a milestone on Tuesday, when a tender offer for its $110 per share bid expires. The chipmaker needs at least 80% of NXP shareholders to accept the transaction, although it could extend the offer if it does not get the necessary support.
Stress express
Booking tickets and hotels, co-ordinating journey times, coping with queues and scrums for taxis, can all leave you frazzled before you’ve even entered the room to make your pitch. Felicia Schneiderhan’s New York-based company 30SecondsToFly developed “Claire”: an artificially intelligent travel assistant designed to take the stress out of booking your next trip, which launches later this year.
Exercise ‘anywhere, anytime’
And in Australia, the wearing of so-called activewear – whether or not you are doing sport – has become something of a phenomenon. A music video gently poking fun at the use of the clothing for such high-octane activity as drinking coffee or going shopping became a viral online hit in 2015.
CSX reaches deal with hedge fund, hires new railroad CEO
Hunter Harrison , the executive who led Canadian Pacific’s turnaround, will become the CEO at Jacksonville, Florida-based CSX immediately, replacing Michael Ward . Harrison, Paul Hilal – the founder of the Mantle Ridge hedge fund that has been pressuring CSX – and three others will also join the railroad’s 13-member board, CSX Corp. said Monday.
Snap slides as Wall Street ends lower
Shares in Snap, the owner of Snapchat, slid 12% on Monday to close below the price at which they started trading just last week in New York. Snap closed 44% higher at $24.48, valuing the company at $28bn, after it raised $3.4bn in the richest US technology company listing since Facebook in 2012 However, analysts have given mixed views on the future of Snap, debating whether it can emulate the success of Facebook, sending shares down $3.32 to close at $23.77.
News 28 mins ago 5:02 p.m.911 issues at Dallas Police are getting worse
A bank robbery in progress usually brings a quick police response but not if the callers can’t even get through to 911 and are being placed on hold. Witnesses at to a robbery in progress at a Chase Bank in north Dallas couldn’t get through to 911.
A Way for Bond ETF Investors to Eliminate Rate Risk
Most fixed-income investors have shifted toward short-term bond funds in anticipation of a rising interest rate environment. However, through a targeted rate-hedged bond exchange traded fund strategy, investors can remove rate risk altogether.
Political Risks Grip U.S. Stock ETFs
U.S. equities and stock exchange traded funds retreated Monday as traders took a cautious stance in light of geopolitical risks in East Asia and concerns that the president Donald Trump’s wiretapping accusations could distract from the economic agenda.
Financial Advisors Look to Smart Beta ETFs to Manage Volatility
As investors and financial advisors consider the potential risks in the markets ahead, many are looking toward multi-factor smart beta exchange traded funds strategies that aim to limit downside drawdowns and still capture upside potential.
Carson compares immigration to America to slavery
Housing a Urban Development Secretary Ben Carson shares a laugh with his wife Lacena “Candy” Carson as they are introduced to speak to HUD employees in Washington, Monday, March 6, 2017. Housing a Urban Development Secretary Ben Carson shares a laugh with his wife Lacena “Candy” Carson as they are introduced to speak to HUD employees in Washington, Monday, March 6, 2017.
As president, Trump seeks answers on his own wiretap mystery
White House Press secretary Sean Spicer walks out of the West Wing of the White House in Washington to speak with members of the media, Monday, March 6, 2017. White House Press secretary Sean Spicer walks out of the West Wing of the White House in Washington to speak with members of the media, Monday, March 6, 2017.
Rates on US Treasury bills rise to highest level in 8 years
Interest rates on short-term Treasury bills rose in Monday’s auction to their highest levels in more than eight years. The Treasury Department auctioned $30 billion in three-month bills at a discount rate of 0.745 percent, up from 0.515 percent last week.
Jo Hanson to retire after nearly 50 years in banking
After nearly 50 years in the banking industry and 16 years at First State Bank, Jo Hanson retired on Feb. 28. Employees of the bank marked her retirement with a reception over the lunch hour at the First State Bank Headquarters in Winchester on Friday, Feb. 24. Throughout her banking career, Jo has worked at the Federal Reserve Bank and BancOhio in Cincinnati. Over the years, she has worked in a variety of roles, but mainly in Human Resources and Marketing.
Snowbirds may soon be allowed to stay 8 months in U.S., but risk losing provincial health benefits
Canadians Gilles Dupont, left, and Monique Dupont sit in the sun, in Dania Beach, Fla. A bipartisan bill currently before the U.S. Congress would allow Canadians over the age of 55 to stay south of the border for up to eight months of the year.
Snap drops 12% to close below Thursday’s open price
Snap has fallen below Thursday’s opening price, losing 12 per cent on Monday as analysts issued ‘sell’ ratings on the owner of messaging app Snapchat. Shares in Snap , which went public three days ago, closed at $23.77 , below its $24 opening price on the New York Stock Exchange.
IBM, Salesforce Announce AI Partnership
Salesforce and IBM have agreed to a partnership allowing both companies easier use of access to the other’s software. IBM and Salesforce have agreed to a partnership which gives Salesforce customers easier access to data from IBM’s Watson artificial intelligence program.
Amazon Is Pulling Out All the Stops Against Apple and Google in High-Stakes Voice Assistant Wars
Although Apple and Google’s voice assistants are shipped with far more devices, Amazon’s Alexa has become a formidable rival thanks to big investments and a swelling ecosystem. As much as Amazon’s Echo home speaker/voice assistant has turned into a surprise hit and yielded a blizzard of positive media attention, the Alexa voice assistant powering Echo hardware is still in key respects at a strategic disadvantage compared to rival offerings from Alphabet /Google , Apple , and Microsoft’s .
Can Under Armour Get Back in the Game?
If Under Armour , shareholders didn’t have bad luck, they wouldn’t have any luck at all. UAA shares are down around 30% year to date and more than 50% in the last 12 months.
Bears Are Growling, but Dip Buyers Are the Problem
The pattern of morning weakness and afternoon strength continued today, but the indices finished in the red and underlying weakness was worrisome. Breadth was worse than 3-to-1 negative at one point and was still worse than 2-to-1 negative at the close.
FCC Halts New Data Security Rules; Broader Repeal of Protections on Tap
WASHINGTON Reporters and analysts say the move by the Federal Communications Commission last week to halt new government rules related to data security from taking effect could mean a broader repeal of privacy protections for high-speed internet users. After a 2-to-1 party-line vote by the Republican-led commission, Ajit Pai, the chairman, announced last week that part of the privacy rules passed in October would be temporarily stayed.
Liberty Media CEO Says He’s Not Done Acquiring Assets
Greg Maffei also told investors he didn’t expect the Trump administration to bring in corporate tax reform any time soon. Despite his recent acquisition of Formula One, Liberty Media CEO Gregory Maffei on Monday said he’s not done acquiring new entertainment assets.
Wall St Dips on Trump Tumult, North Korea Action
U.S. stocks pulled back on Monday in a broad decline as investors grew uneasy over the latest tumult surrounding the Trump administration and geopolitical tensions emanating from North Korea. The S&P 500 has rallied about 11 percent in the wake of President Donald Trump’s victory in November, with investors betting on the implementation of reduced regulations, lower taxes and increased infrastructure spending.
Trump Cheers Exxon’s Plan to Create 45,000 Jobs
Exxon Mobil will spend $20 billion by 2022 to expand its footprint along the U.S. Gulf Coast, creating more than 45,000 jobs. The world’s largest publicly traded oil company said Monday it will invest in refining and chemical-manufacturing projects at 11 proposed and existing sites, located in Texas and Louisiana.
Snap Slumps 12%, Closes at Lowest Since IPO
Shares of Snap Inc slumped 12 percent on Monday and closed at their lowest level of the three sessions since the Snapchat owner’s soaring market debut last week. The $3.4-billion listing last Thursday was the hottest technology offering in three years, but the loss-making company’s lofty valuation and slowing user growth have raised eyebrows on Wall Street.