Sales & Marketing news

• Puerto Rico stands 'on the brink of a massive liquidity crisis that will intensify'

  15-10-2017 20:26 via feedproxy.google.com
  Puerto Rico Gov. Ricardo Rosselló  appears to have changed his tune on the magnitude of the emergency facing the island, sending a desperate letter to Congress outlining the dire straits still plaguing the 3.4 million Americans who are considering whether they can rebuild a future in the devastated territory.
  The call for help from Rosselló is certainly justified. But it comes three weeks after Hurricane Maria and on the heels of a clownish, gaffe-fill
  
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• We ate at Warren Buffett's favorite New York City steakhouse — which people pay millions to dine with him at — here's what it was like

  15-10-2017 17:45 via feedproxy.google.com
  When Warren Buffett visits New York City, he has one go-to restaurant: Smith & Wollensky. 
  Every year, people bid millions of dollars for a meal with Buffett at the famed steakhouse. This July, a bidder agreed to pay $2.68 million to a San Francisco charity for a lunch for seven with the Berkshire Hathaway CEO. 
  We don't have millions of dollars to spend on a meal with Buffett. But, we were able to make a reservation at Smith & Wollensky ourselves. 
  So, in a
  
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• A former hedge funder thinks bitcoin will hit $10,000 in 6-10 months and be 'one of the great manias of all time'

  15-10-2017 17:41 via feedproxy.google.com
  The Bitcoin bubble will continue blowing up until it inevitably pops, according to Michael Novogratz, a former manager at the $72 billion investor Fortress.
  "It would not surprise me if, in the next six to 10 months, we're over $10,000," Novogratz told CNBC on Tuesday. Bitcoin traded near $4,823 per dollar at 11:31 a.m. ET on Monday, up 657% for the year.
  At a recent meeting with institutional investors in San Francisco, he realized the "herd" was approaching to cash in on the booming deman
  
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• Wells Fargo beats on earnings, sets aside $1 billion for legal woes

  15-10-2017 17:37 via feedproxy.google.com
  Wells Fargo reported third quarter earnings Friday, showing mixed results for the scandal-ridden bank.
  The bank delivered adjusted earnings of $1.04 per share, slightly above the $1.03 per share Wall Street analysts expected and down from $1.05 last quarter.
  The bank reported unadjusted earnings per share of $0.84 after accounting for losses due to "discrete litigation accrual." Wells currently faces a class action lawsuit over its fraudulent accounts scandal and ot
  
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• A star stock picker at Fidelity was reportedly fired after an allegation of sexual harassment

  15-10-2017 17:14 via feedproxy.google.com
  Gavin Baker, a star stock-picker at Fidelity, was reportedly fired after he allegedly sexually harassed a junior female staffer, the Wall Street Journal reported, citing an attorney for the staffer and people familiar with the situation.
  The female employee is a 26-year-old equity research associate who is currently on leave, the Journal reported.
  A spokesman for Baker told the WSJ he “strenuously” denies any “supposed” allegations of sexual harassment.
  “Gavin
  
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• Bank of America beats on earnings (BAC)

  15-10-2017 17:10 via feedproxy.google.com
  Bank of America Merrill Lynch beat Wall Street estimates for third-quarter earnings Friday.
  The bank reported earnings of $0.48 per share, even with the second quarter, beating analysts estimates of $0.46 per share.
  "Our focus on responsible growth and improving the way we serve customers and clients produced another quarter of strong results," CEO Brian Moynihan said in a statement. "Revenue across our four lines of business grew 4 percent, even with a challenging comparable quar
  
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• Citigroup beats on earnings results as its bread-and-butter business shines (C)

  15-10-2017 17:03 via feedproxy.google.com
  Citigroup handily beat analyst estimates Thursday, reporting third-quarter earnings of $1.42 per share, a nearly 8% beat. 
  Wall Street estimated earnings of $1.32 per share.
  “We delivered a very strong quarter, showing the balance of our franchise by both product and geography and highlighting our multiple engines of client-led growth," Citi CEO Michael Corbat said in a statement. "We had revenue increases in many of the products we have been investing in, tightly managed ou
  
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• The company behind 'Get Out' and 'Split' dominates the weekend box office with its new horror movie (CMCSA)

  15-10-2017 16:58 via feedproxy.google.com
  Jason Blum's Blumhouse Productions has teamed up with Universal to shake up the box office once again.
  After having two of the biggest box office hits of early 2017 with M. Night Shyamalan's "Split" and Jordan Peele's "Get Out," Blumhouse has resurfaced from the fog of the summer movie season with another box office hit, "Happy Death Day."
  Mixing the company's patented low-budget scary movie model with the classic plot of "Groundhog Day," the movie dominated the competition, which included Warne
  
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• Here's the best time of year to buy a home — but you have to start house hunting months beforehand

  15-10-2017 16:36 via feedproxy.google.com
  It's house-hunting season.
  Between October and December each year, starter home inventory in the US gets a 7% boost, according to new data from Trulia.
  In 70 of the 100 largest US metros, the number of starter homes on the market reaches its annual peak during this time, meaning those looking to buy their first home will have more to choose from this time of year.
  Trulia defines a starter home as any listing priced below $232,751, based on weighted averages from the 100 largest metro areas in th
  
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• We asked dozens of young bankers to name their biggest Wall Street concern — and one answer came up over and over

  15-10-2017 16:35 via feedproxy.google.com
  Business Insider recently compiled a list of the top talent on Wall Street age 35 and under, interviewing dozens of bankers, asset managers, and traders in the process.
  We asked the crop of dealmaker candidates making waves in investment banks and private-equity shops the same question: What's your biggest concern about the industry?
  While responses varied — some bemoaned market trends, like record-low volatility and sky-high valuations — a strong current ran through the vast majori
  
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• The rise of a new kind of finance is setting off alarm bells at the Fed

  15-10-2017 16:32 via feedproxy.google.com
  WASHINGTON — Banks are so 2008.
  A surge in new methods and avenues to circumvent conventional bank finance presents the next major challenge for regulators in Washington, the St. Louis Fed's president, James Bullard, told Business Insider in an interview.
  President Donald Trump has vowed to roll back financial regulations aimed at preventing another financial crisis, in particular postcrisis legislation known as Dodd-Frank — regulations Bullard said had made big banks safer by forcin
  
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• These 13 companies pay the highest effective tax rate in the US

  15-10-2017 14:14 via feedproxy.google.com
  The Trump administration's tax plan is once again at the forefront of the news cycle.
  New tax reform framework released by the "The Big Six" offers insight into the types of cuts the White House wants. 
  Meanwhile, analysts at Credit Suisse have compiled a list of the companies that currently stand the most to gain from a reduced tax burden.
  Here are the 13 companies with the highest effective US tax rate, according to Credit Suisse.13. TechnipFMC
  Ticker: FTI
  Effective Tax Rate:&nb
  
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• A 55-year-old Goldman Sachs exec started spinning EDM shows, and he said it's helped his career on Wall Street

  15-10-2017 14:10 via feedproxy.google.com
  More often than not, you're likely to find David Solomon at Goldman Sach's headquarters in Tribeca, helping run the most prestigious white-collar investment bank on Wall Street, where the COO has been a partner since 1999. 
  But you might also spy him at The Whales, an Asian-fusion night spot on New York's bustling Lower East Side, donning a T-shirt and a white pair of headphones.
  Or, Beautique in Midtown — dubbed a "millionaire playpen" by the New York Post.
  But Solomon 
  
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