|Day's range||1.8000 - 1.8100|
Yesterday Apple’s redesigned, revamped Mac Pro went on sale. This is Apple’s first significant Pro-level desktop upgrade in a long time, but it comes at a price. A fully maxed out Mac Pro costs $52,000 Mac Pro. Well, $52,599, to be precise. And that DOESN’T include the $5,000 for a Pro Display XDR, or its $1,000 stand. We did some math, and think it's important you know that for that price, you could by over 2,000 Baby Yoda plush dolls. We trust you know how to best spend your money.
Needham and Co analyst Laura Martin said rising competition from Disney+ and Apple could cause the streaming giant to lose 4 million U.S. subscribers in 2020.
(Bloomberg) -- Subscribe to Stephanomics on Apple PodcastsSubscribe to Stephanomics on Pocket CastsSubscribe to Stephanomics on SpotifyPaul Volcker, the former Federal Reserve chairman who died this week at age 92, was an imposing public figure—in height as well as stature.He was best known for his bold moves in the U.S. war against inflation, and for his dedication to public service. But there was more to the man, as Bloomberg Markets editor Christine Harper discovered as she worked with Volcker to co-write his 2018 memoir, “Keeping At It.”Harper joins host Stephanie Flanders to share her memories and observations of Volcker’s humor, hobbies and patience.Also this week, Stephanomics explores what’s ailing India, which this year lost its title as the world’s fastest-growing major economy.Moreover, any chance of regaining that crown looks like it’s slipping away, despite the efforts of Prime Minister Narendra Modi. One reason: The gem and jewelry industry, which accounts for almost 7% of India’s economy, is suffering thanks to external forces like the U.S.-China trade war as well as a possible setback from the Indian government itself.Anirban Nag reports from Mumbai on the sector, while Flanders digs deeper into the Modi agenda with Bloomberg economist Abhishek Gupta.To contact the authors of this story: Scott Lanman in Washington at email@example.comStephanie Flanders in London at firstname.lastname@example.orgTo contact the editor responsible for this story: Magnus Henriksson at email@example.com, David RovellaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Saudi Aramco jumped for a second day, pushing the oil giant’s value beyond the $2 trillion mark that alienated global investors and potentially making further share sales abroad more difficult.The stock climbed by the daily 10% limit to 38.7 riyals at the open in Riyadh before trimming gains. It rose 9.4% to 38.50 riyals at 11:30 a.m. local time in trading of 313 million shares, compared with 31.6 million for all of Wednesday.The surge reflects the kingdom’s efforts to engineer a successful start to trading after international investors balked at the price: Saudia Arabia encouraged local individuals to buy and hold the stock through cheap loans and a bonus-share plan, while pushing wealthy families and regional allies to buy as well. The offering consisted of only 1.5% of Aramco’s stock, so that investors who didn’t get allocated shares in the IPO had to buy in the secondary market.Aramco raised $25.6 billion in the deal, selling shares at 32 riyals each and overtaking Microsoft Corp. and Apple Inc. as the most valuable listed company.The IPO has become synonymous with Saudi Arabia’s controversial Crown Prince Mohammed bin Salman and his efforts to reshape the economy of the world’s biggest oil exporter. But his insistence on the $2 trillion valuation deterred international investors, many of whom said the stock was too expensive given governance and geopolitical concerns.Analysts at Sanford C. Bernstein & Co. said after the first trading day it’s already time to cash out. In a Bloomberg survey last month, global money managers put Aramco’s fair value at between $1.2 trillion and $1.5 trillion.While hitting the target may vindicate Saudi officials, it could complicate any plans to sell part of Aramco’s shares abroad as originally envisaged by Prince Mohammed in 2016, when he said a dual listing could raise as much as $100 billion. Saudi officials met in recent weeks with international investors to sound them out on a possible listing of Aramco’s shares in Asia, the Wall Street Journal reported Wednesday.Still, the IPO, touted as part of a blueprint for life after oil for the kingdom is a watershed moment for a business that’s bankrolled Saudi Arabia and its rulers for decades.The debut was cheered by Saudi and Gulf investors, who see the stock price supported by Aramco’s guaranteed dividends, buying by index-tracking funds and the fact that the region doesn’t have any other listed major oil companies.Read: The Wall Street Bankers Who Burst Aramco’s $2 Trillion BubbleAramco’s “$2 trillion valuation is justified due to secured dividend streams,” Arqaam Capital analysts including Rita Guindy and Jaap Meijer wrote in a report on Wednesday in which they initiated coverage with a buy recommendation and price target of 39.20 riyals.Arqaam expects a gradual increase of 2% annually in the dividend, potentially being topped up by a special payout of $20 billion in the next three years.(Updates price in second paragraph.)\--With assistance from Paul Wallace.To contact the reporter on this story: Filipe Pacheco in Dubai at firstname.lastname@example.orgTo contact the editors responsible for this story: Celeste Perri at email@example.com, Phil SerafinoFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Japan Display has agreed to receive an injection of up to ¥90bn ($829m) from Ichigo Asset Management in a deal that would allow the cash-strapped company to continue supplying displays for Apple’s latest iPhone 11. Following a board meeting, Japan Display said it plans to hold a briefing later on Thursday to explain its fundraising measure. The agreement came after months of uncertainty that also involved intense talks with Apple, which has agreed to make an equity investment of $200m in Japan Display, according to people involved in the deal.
Fangirls of Lipstick Queen will be familiar with Medieval, a sheer, universally flattering red. Like the rest of the FT style desk, I’m obsessed with Augustinus Bader face cream, and the body lotion is impressive too. Are Celine’s new fragrances the essence of ‘cool’?
The “soul extractor”, as the workers at A-fun Interactive call it, is a small white room. In the centre is a stool surrounded by a metal frame dotted with more than 40 digital cameras. I picked my way ...
Disney+ downloads passed 22 million on mobile devices, the independently owned app-tracking company Apptopia announced Tuesday.
(Bloomberg) -- Big tech companies like Facebook Inc. and Alphabet Inc.’s Google, long seen as some of the world’s most desirable workplaces offering countless perks and employee benefits, are losing some of their shine.The Silicon Valley companies dropped out of the Top 10 “best places to work” in the U.S., according to Glassdoor’s annual rankings released Tuesday. HubSpot Inc., a cloud-computing software company, grabbed the No. 1 ranking while tech firms DocuSign Inc. and Ultimate Software were three and eight, respectively.Facebook, which has been rated as the “best place to work” three times in the past 10 years, was ranked 23rd. It’s the social-media company’s lowest position since it first made the list in 2011 as the top-rated workplace. Facebook, based in Menlo Park, California, was ranked seventh last year.Google, voted “best place to work” in 2015 and a Top-10 finisher the previous eight years, came in at No. 11 on Glassdoor’s list. Apple Inc., once a consistent Top-25 finisher, was ranked 84th. Amazon Inc., which has never been known for a positive internal culture, failed to make the list for the 12th straight year.Microsoft Corp. was one of the lone big technology companies to jump in the rankings. The Redmond, Washington-based software company moved to No. 21 from 34 a year ago. A few technology companies made the list for the first time, including SurveyMonkey at No. 33, Dell Technologies Inc. at No. 67 and Slack Technologies Inc. at No. 69.Twenty companies on the list have their headquarters in the San Francisco Bay Area, more than any other metro area, Glassdoor said.The annual list ranks companies using employee reviews on areas such as compensation, benefits, culture and senior management. Many of the big tech companies, including Facebook and Google, have been criticized this year for a myriad of issues, and in some cases employees have publicly opposed executive decisions.At Google, employees have protested against the company on a number of topics, including the company’s “intimidation” tactics against worker organizers. The results of an internal employee poll at the internet search giant, reported by Bloomberg in February, showed that fewer employees were inspired by Chief Executive Officer Sundar Pichai’s vision than a year earlier. It also found fewer workers believe senior management could successfully lead the company into the future.At Facebook, which just like Google provides employees with perks including free meals, corporate transportation and laundry services, workers have pushed back internally against leadership on some policy issues, such as the decision not to fact-check political advertisements.(Updates with new tech entrants in the fifth paragraph.)To contact the reporter on this story: Kurt Wagner in San Francisco at firstname.lastname@example.orgTo contact the editors responsible for this story: Jillian Ward at email@example.com, Andrew Pollack, Molly SchuetzFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
We found three semiconductor stocks with the help of our Zacks Stock Screener that investors might want to consider buying for 2020...
The bullish trends in the S&P 500 index will likely continue heading into the New Year powered by the Fed's accommodative interest-rate policy and a resilient domestic economy.
(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.European shoppers who waited until now to buy the latest Echo voice speakers for Christmas are out of luck. And not even a Prime membership can help them.Amazon.com Inc.’s new generation of Alexa devices has sold out in parts of Europe and won’t be available again until the new year, according to the retailer’s websites in various countries. The same thing happened last year when various models became unavailable in North America and Europe the week before the holiday.While “sellout” headlines can generate buzz for new products, highlighting how a hot product is flying off the shelves, the Echo speakers are an important part of Amazon’s sales strategy. The relatively modestly priced devices are seen as a way to rope users into the company’s ecosystem of products, and they face rising competition from other traditional leading consumer electronics brands, such as Apple Inc. and Samsung Electronics Co.Customers trying to order third-generation Echo speakers on the U.K. website on Wednesday were told that they won’t be able to receive their order until sometime between Dec. 25 and Jan. 2, depending on the color. A listing for the Echo Dot, a hockey-puck-sized speaker that sells for 24.99 pounds ($32.85), said it’s out of stock until Dec. 20 or later.French, Spanish and German shoppers looking for an Echo are out of luck until January. The Dot appears to be back in stock a few days before Christmas, but won’t necessarily make it to the proper destination before the holiday.The beefed-up Echo Studio, a higher-end speaker aimed at music lovers that retails for 190 pounds in Britain, is also out of stock until the new year in those markets. The Echo Show, which has a video screen, is still in stock.Read more about the new line of Alexa devices here.A spokesman for Amazon didn’t have an immediate comment.Echo speakers are still available in the U.S. and customers can find some in Europe from third-party retailers. \--With assistance from Natalia Drozdiak, Rodrigo Orihuela and Helene Fouquet.To contact the reporter on this story: Amy Thomson in London at firstname.lastname@example.orgTo contact the editors responsible for this story: Giles Turner at email@example.com, Molly SchuetzFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Hello from Washington, where I’ve just finished watching Speaker Nancy Pelosi’s news conference on her deal with Donald Trump to allow congressional ratification of USMCA. For all of his bluster and protectionism, has Trump now forged a new domestic consensus over the rules of open trade?
(Bloomberg) -- Want to receive this post in your inbox every morning? Sign up hereFed day, the first day of trading for the world's biggest listed stock and the last day of campaigning for the U.K. election. Here are some of the things people in markets are talking about today.Decision dayNot a single economist surveyed by Bloomberg expects the Federal Reserve to announce a change in interest rates at 2:00 p.m. Eastern Time today. For investors the decision will be all about the outlook, with the Federal Open Market Committee updating its rate forecast through 2022. Chairman Jerome Powell will give a press conference at 2:30 p.m. where he is expected to maintain his recent upbeat tone economic expansion. Biggest everSaudi Aramco successfully became the world’s most valuable public company after raising $25.6 billion in its record IPO and jumping by the daily 10% limit when the stock started trading this morning, giving the oil producer a market valuation of $1.88 trillion. The decision to list on the Riyadh stock exchange pushed the regional bourse into the world’s top 10. There are a lot of unusual things about the IPO, not least of which is the tiny free-float that will give shareholders little or no say over how the company is run. Last dayParty leaders in the U.K. are touring marginal constituencies on the final day of campaigning ahead of tomorrow’s election. A key poll released yesterday showed that while Prime Minister Boris Johnson remains on track for an overall majority, his lead is shrinking. The pound dropped after the survey was released. Anti-Brexit campaigners are putting their efforts into a tactical vote campaign in the hopes of stopping Johnson’s Conservative Party gaining a majority. Markets mixed Equity investors are not making any big decisions as they wait for trade, monetary and political events to play out over the next few days. Overnight, the MSCI Asia Pacific Index gained 0.3% while Japan’s Topix index closed 0.3% lower. In Europe, the Stoxx 600 Index had slid 0.2% by 5:50 a.m. in a fairly subdued session so far. S&P 500 futures pointed to a small loss at the open, the 10-year Treasury yield was at 1.816% and gold was higher. Coming up…U.S. inflation is expected to have picked up to 2% in November, with the core reading remaining unchanged at 2.3% when the data is published at 8:30 a.m. The U.S. crude oil inventory report is released at 10:30 a.m. As well as the Fed decision at 2:00 p.m., the U.S. November budget statement is published. Among the companies reporting earnings today are Lululemon Athletica Inc., American Eagle Outfitters Inc. and United Natural Foods Inc. What we've been readingThis is what's caught our eye over the last 24 hours.Traders buy hedges “like the world is about to end.” The $11 trillion emerging-markets rally has big backing for 2020. China’s curing cancer faster and cheaper than anywhere else. Swiss stocks may be boring but they are matching the S&P 500. Ken Griffin has another money machine to rival his hedge fund. Apple’s new Mac Pro can cost $52,000. That’s without the $400 wheels. Is Earth getting bigger over time?To contact the author of this story: Lorcan Roche Kelly in Dublin at firstname.lastname@example.orgTo contact the editor responsible for this story: Cecile Gutscher at email@example.com, Sid VermaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.