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Disney set to buy most of 21st Century Fox

(FinancialPress) — Disney is set to acquire a massive portion of 21st Century Fox for $52.4 billion – a deal that is certain to restructure the media industry as a whole. This give the entertainment giant a fighting chance against opposing digital platforms such as Netflix. The move is an uncharacteristic one for Rupert Murdoch, a serial investor who is now option out of the game with a big cash-out, after years of building a media empire. For Disney (DIS), the deal bolster its media asset portfolio considerably – one which already carries remarkable weight even before this – and makes it pack a bigger punch in the ongoing battle against streaming services that have managed to take away considerable business volume from traditional cable subscription. The acquisition emco...

Apple to bolster chip producer Finisar with $390 million investment

(FinancialPress) —Finisar Corp will receive a $390 million cash injection from Apple in order to boost its chip production capacity, those which power some of the most remarkable features of the flagship iPhoneX – Animojis, Face ID and portrait-mode photos. After the announcement, the Sunnyvale, California-based Finisar‘s shares gained 14% in premarket trade reaching a value of $22. This is the second investment made by Apple‘s $1 billion advanced manufacturing fund. It was created in order to incentivate innovation and create jobs, as told by Apple. The debut investment made with the fund was a $200 million injection into Gorilla Glass maker Corning Inc in the past March. Finisar will upgrade and reopen a now-closed 700,000 square-foot plant in Sherman, Texas using the funds. Once o...

SpaceX and Budweiser team up in efforts for space beer

(FinancialPress) — Elon Musk‘s SpaceX will send barley seeds to space and back in the name of galactic exploration and beer – and some of the most remarkable branding efforts possible for Anheuser. The project is born as a research project requested by Budweiser – in pursuit of guaranteeing that the first Mars foragers will be able to crack open a cold one with the boys once they get there. The launch will happen today from Cape Canaveral’s Air Force station. It was originally slated for Tuesday, but SpaceX opted for a delay to carry out additional checkups. The launch is part of SpaceX‘s ongoing partnership with NASA, in which they periodically complete unmanned trips to the ISS as a way to send supplies for scientific purposes to the crew that it hosts. The Internationa...

Abercrombie is the lowest-rated retailer by shoppers

(FinancialPress) — Abercrombie & Fitch (ANF) attained a dubious honor – the company recorded the lowest score in the American Customer Satisfaction Index. The American retailer was the lowest rated one within its industry. Out of a max of 100, it got 65 points – a whole 10 points lower than the overall average for the sector. The record-setting performance marks the debut for the company on the list. The ranking adds to the ever-mounting woes of the clothing retailer, which has been hard at work with its rebranding efforts ever since former CEO Mike Jeffries exited the company in late 2014. “Normally when we see that kind of a gap, it’s a company so large it has monopoly power like, Walmart(WMT) or McDonalds (MCD)…Abercrombie and Fitch is not that, they ar...

Stocks strengthen on back of Bitcoin futures launch

(FinancialPress) —Stocks rose and volatility for equities inched close to a new record low on Monday, as the launch of bitcoin futures fed into the cryptocurrency craze and investors look at the battery of incoming central bank rate decisions with good eyes, based on signs of strong economic growth. The European market fed off of the strong session experienced in Asia for early trading, closing in on a new four-week high. MSCI‘s main index for Europe gained 0.1%, while the STOXX 50 rose 0.2%. The British FTSE gained 0.6% thanks to a depreciation of the sterling. The darling of the day, however, is the introduction of bitcoin futures contracts – which will allow investors to bet on the price for bitcoin in up to 3 months ahead of their purchase. The one-month contract, which was the m...

Demand for recreational marijuana in Canada will be “much stronger than expected“ – researcher

(FinancialPress) — Expectations set by industry officials operating in the recreational marijuana sector may be well below the real level of demand that will be reached, as per a report received by Health Canada. Demand that the market is not properly bracing for could have repercussions all through the supply chain. For example, cultivators could see a spike in sales if they can get ahold a share of the expanded market. Retailers could find themselves in a tight spot, if the public expects them to move more product than the limited amount of government-run stores could handle. Quebec aims to have 15 provincial-owned stores operating by next summer – Ontario guns for 40. Alcohol companies would find themselves facing stiffer opposition than expected in this scenario. Miles Light, par...

Yahoo co-founder: Bitcoin can play a role in our society

(FinancialPress) — Bitcoin has gained another strong voice in its favor. According to Jerry Yang, co-founder of Yahoo and current head of AME Cloud Ventures, bitcoin is likely to become a wold-class force once it gets treated as transaction currency. “Bitcoin as a digital currency is not quite there yet,“ he said to CNBC on Thursday. While speaking at the Fortune Global Forum in Guangzhou, China, he added: “Personally, I am a believer in how digital currency can play a role in our society… but for now, it seems like it’s more driven by the hype of investing and getting a return rather than using it as a transaction currency,” Thursday marked another record day for the cryptocurrency, which blasted through the psychological value barrier of $15,000 on the Coinbase ex...

Ford and Alibaba team up in search for new horizons

(FinancialPress) —Cloud computing, retail and connectivity are some of the areas that Alibaba Group Holding Ltd (BABA) and Ford Motor Co (F) will look to explore cooperatively with a recently-inked agreement between the companies. The deal could also branch out towards the sale of Ford cars on Alibaba‘s online retail platform Tmall. In a statement, the Asian company said that its operating system firm AliOS and its digital marketing branch Alimama would be a couple of the units that will become involved in the three-year deal with Ford. The aforementioned sale of Ford cars via Tmall was also broached by an Alibaba spokeswoman. The move is in line with Ford‘s general overhauling of its China strategy in favor of stimulating business growth. In the same statement mentioned earlier, Alibaba s...

Amazon‘s apparel business could reach $85 billion in 2 years.

(FinancialPress)—Instinet analysts view Amazon.com Inc.‘s (AMZN) apparel retail business as a huge blockbuster – it could potentially already be positioned as the largest company in the sector, and could still reach sales between $45 billion and $85 billion by the end of the 2020 fiscal year. A team of said firms‘ analysts led by Simeon Siegel estimate sales for apparel and accessories overall at a $1 trillion mark, with above average online penetration and a “leading gross margin“ when compared to other categories.   In a note to investors, Instinet wrote: “We believe Amazon AMZN, -0.36%   has the largest [total available market] TAM (ever), doesn’t carry socio-economic retailing stigmas, can stock a limitless number of goods on its virtual shelf and knows customers better than...

Wall Street tech rally begins to slow down

(FinancialPress) — Tuesday saw Wall Street stumble, as Walt Disney Co. (DIS.N) shares took a dip and the tech sector rebound started losing intensity. Another factor at play was the reaction of investors towards effects on corporate earnings to come from the  recently-approved Republican U.S. tax overhaul . The session close marked the third in a row in the negative for the S&P 500. This had not happened since the beginning of August. Overall, this adjusts the index’s rise for the year to 17%. The S&P 500 technology index saw a 0.21% rise, mostly propelled by a 2,53% increase in Electronic Arts Inc (EA.O) stock. Over the past week, the hottest sector of 2017 has dropped about 4% in value. Investors are moving their money to banks, retailers and other hopeful-to-be-benefitted ...

Yale Expert: Bitcoin a ‘dangerous speculative bubble‘

(FinancialPress) — While many in the market remain bullish on Bitcoin as it rallies towards the $12,000 mark, a top economist said on Tuesday that investors must remain wary as the cryptocurrency is in “dangerous speculative bubble.” Stephen Roach, a Yale University Senior and former Morgan Stanley chairman and chief economist for Asia, said that “This is a toxic concept for investors.“ Roach is revered as one of the most influential economists in Wall Street, and spent the entirety of his 30-year tenure in Morgan Stanley as head of the pack of a cream-of-the-crop team of economists from around the world. His take on the explosion of the most blossoming cryptocurrency in the world is nothing short of hot. On an interview for CNBC‘s “The Rundown“, he stated: “This is a dan...

Tax Cuts and Jobs Act passes in Senate

(FinancialPress) — The Republican tax bill was passed through Senate over the weekend – with a notorious abstention from voting from all democrat representatives. Mitch McConnell, the Republican Senate Majority Leader, lauded the GOP‘s victory – calling the bill “the most extensive tax reform in 31 years“. The Committee on Joint Taxation was not as warm on the outcome, though – claiming that it will add a trillion dollars to the USA‘s deficit. Democrats criticized the top-of-the-hour addons to the bill – some of which were not pertinent to tax reform or law – a key reason for the Liberals to restrain from voting. Chuck Schumer, a democrat Senator, voiced the concerns on the Senate floor. “Some of the pages were completely crossed off and text had been re...

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