Regulators are looking hard at all of the major tech companies with an eye toward anti-trust violations. At Bloomberg, Spencer Soper reports that one particular Amazon practice may fall into that category. He writes: Amazon.com Inc.’s determination to offer shoppers the best deals is prompting merchants selling products on its marketplace to raise their prices on competing websites, a testament to the company’s growing influence over the e-commerce market. Amazon constantly scans rivals’ prices to see if they’re lower. When it discovers a product is cheaper on, say, Walmart.com, Amazon … [Read more...]
Apple Stops Listening to You
After years of eavesdropping on Siri users to improve the product's voice recognition, Apple has announced that it will suspend its "grading" system of listening to users. This comes as Google and Amazon are also coming under increased scrutiny for listening to customers' conversations. Bloomberg's Mark Gurman reports: Apple Inc. said on Thursday it is suspending its global internal program for “grading” a portion of user Siri commands after some consumers raised concerns about the program. The Cupertino, California-based technology giant employs people that listen to less than 1% of Siri … [Read more...]
Even Democrats Don’t Want Kamala Harris to Bring Back the Bad Old Days of Taxation
Democrats currently vying for the party's presidential nomination are unveiling their plans for government. Many of the plans include an idea known as "Medicare for All." Senator Kamala Harris from California has released her own "Medicare for All" plan, and to pay for it, her plan would raise taxes domestic and offshore profits at the same rate. The idea could be opposed by Harris' own party leadership, as Senate Minority Leader Chuck Schumer and House Ways and Means Committee Chairman Richard Neal helped end the practice. Bloomberg's Laura Davison reports: That could face resistance within … [Read more...]
Is CVS Pioneering a Revolution in Dialysis?
It's not often a drug store/insurance company begins building its own medical devices. In fact, this may be a first. CVS is testing its own home dialysis machine. The machine could make the process of dialysis easier for the nearly 500,000 Americans on dialysis. Anna Wilde Mathews reports at The Wall Street Journal: CVS Health Corp. CVS -1.17% is making an ambitious move into kidney care, launching a clinical trial for a new home-dialysis device designed by the firm of Dean Kamen, the Segway inventor. The company is delving into unusual territory for a drugstore and health insurer. The … [Read more...]
Where Could the Next Bubble Be?
At Bloomberg Sarah Ponczek, Anchalee Worrachate, and Laura Benitez report that unease is growing in financial markets over loose monetary policy and the potential it has for creating an asset bubble. Of the areas drawing most concern, leveraged loans lead the pack. The authors write about the market for leveraged loans: Few markets draw more concern than leveraged loans, used by typically junk-rated companies to fund everything from private equity buyouts to shareholder dividends. The debt -- either directly or through securitized products -- usually ends up in the hands of mutual funds, … [Read more...]
You Won’t Believe the Suggestion a BlackRock Investing Officer Made to the ECB
It is hard to imagine clear-headed people who would argue the efforts of the European Central Bank (ECB) to stimulate Europe's economy have been very successful. Many might even argue the ECB has failed to boost the economy on the continent in a meaningful way, despite unprecedented intervention measures. Central bankers usually have two choices when unprecedented economic stimulus measures fail, 1) abandon them, or 2) double down. At the FT, BlackRock's chief investment officer of global fixed-income, Rick Rieder, encourages the ECB to double down in a big way. Rieder starts out strong. … [Read more...]
Will the Normalization of Same-Day Shipping Hurt Amazon?
Amazon has become a dominant force in online retail, known for helping small businesses deliver their products to customers quickly. Today though, Amazon isn't the only company offering fast shipping services for small companies. Shopify is targetting one of Amazon's most notable advantages. Simran Jagdev reports for Bloomberg: Same-day shipping is becoming the norm for online shoppers but for smaller merchants it can be a logistical nightmare. That’s where Shopify Inc.can step in, says Ric Kostick, chief executive officer of 100% PURE. The natural skincare company ships up to 5,000 orders … [Read more...]
Is the Trump Administration Coming for Amazon?
Treasury Secretary Steven Mnuchin told interviewers at CNBC yesterday that "“If you look at Amazon, although there are certain benefits to it, it destroyed the retail industry across the United States, so there’s no question they’ve limited competition." The Secretary's words, coupled with recent Justice Department disclosures that there are "plans to scrutinize tech platforms following mounting criticism across Washington that the companies have become too big and too powerful," there is understandable worry at Amazon and other tech firms. Bloomberg's Ryan Beene reports on Amazon's … [Read more...]
The Next Revolution in Mobile Phones May Be Dumber Phones
Have you recently paid $1,000 or more for a fully loaded smartphone that can do it all? If you're like many Americans, the answer is probably yes. the prices people are paying for smartphones has skyrocketed. But those expensive phones still aren't available to many people around the world who simply don't earn enough to afford the high price. In places where people can't afford high end smart phones, a new trend is occurring, the rise of what are known as "smart feature phones." These are phones with features similar to a smartphone, but without all the bells and whistles. Newley Purnell … [Read more...]
Arnott on FANG Stocks “You Would Have to Use Implausible Assumptions to Justify Today’s Price”
Research Affiliates' Rob Arnott tells Bloomberg that "You would have to use implausible assumptions to justify today's price," in reference to markets. He also specifically calls out Tesla and Netflix as "zombie companies." Then Arnott slams down on the valuations of the "FANMAG" companies, noting that their combined valuation is greater than that of entire national markets, saying “If you count up the whole roster of FANMAG companies, that’s the Fang stocks plus Apple, plus Microsoft, their aggregate market value exceeds every market in the world except Japan and the U.S. That’s strange. … [Read more...]
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