We asked 14 people on the streets of New York City what they would do with $US1 million. New York City is one of the most expensive places to live. Fo the most part, people in the streets of New York City said they would help out others first if they had an extra million in their pockets.
Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours. Sign up here to get the best of Business Insider delivered direct to your inbox. Some big changes are coming to the US stock market.
The number of New York City home sellers who cut their asking prices spiked to its highest level since 2009 during the week after Labour Day, according to StreetEasy. The real-estate website also saw its biggest wave of new listings around the same period, as sellers tried to attract New Yorkers who
Farfetch priced shares at $US20 apiece, above the $US17-$US19 range that was expected. Chinese e-commerce giant JD.com acquired a 13.94% stake of Farfetch in 2017, and agreed to buy more Class A ordinary shares after Farfetch's IPO to maintain its ownership stake. Online luxury-goods retailer Farfetch
Uber is reportedly in early talks to buy Deliveroo.The London-based food-delivery startup Deliveroo would be interested in selling only for a price that's "considerably higher" than its $US2 billion valuation, Bloomberg says. Two of the fund managers at Neuberger Berman's Small Cap
A potential "double top" is forming in the S&P 500, according to Gluskin Sheff Chief Economist and Strategist David Rosenberg. At the same time, volume and stock-market breadth are declining. Signs of a stock-market meltdown keep piling up, and now it's time to add a "classic topping
Here are nine of the very first editions of famous American newspapers like New York Times and Washington Post. "Multiple newspapers in major cities were slugging it out, and it was a very challenging market for newspapers to break into," Campbell told Business Insider. According to Campbell
China is reportedly planning to slash import tariffs as soon as next month. Beijing is planning to cut the average tariff rate on imports from most of its trading partners as soon as next month, Bloomberg says. Argentina's GDP craters in the 2nd quarter as an economic crisis grips the country.
The shares of Beach Energy Ltd (ASX:BPT), OZ Minerals Limited (ASX:OZL), Premier Investments Limited (ASX:PMV) will be on watch on Thursday. Here's what you need to know...
U.S. President Donald Trump is set to nominate former Federal Reserve economist Nellie Liang to the central bank's board of governors, the Wall Street Journal reported on Wednesday, citing a person familiar with the matter. 2. China plans to reduce the average tariff rate on imports from most of
There are two main reasons for the sanguine response from global markets to Trump’s latest tariff announcement, Capital Economics says. CE’s Oliver Jones says the bad news was already priced in, and the tariffs weren’t as high as markets feared. But Jones expects tensions to escalate into 2019, when
1. The EU has launched an investigation into Amazon over potential antitrust violations. It comes after it slapped Google and Apple with giant fines. Meanwhile, Amazon reportedly wants to be one of the largest convenience chains in America with 3,000 cashierless stores.
The collapse of Lehman Brothers in September 2008 tolled the bell for the global financial system as we knew it. Martin Gilbert, the co-CEO of Standard Life Aberdeen, a $US736 billion asset manager and the largest active manager in the UK, helped his firm survive the crisis by spotting the red flags
Alibaba is setting up its own company to make a customised artificial intelligence chip, Reuters reported. The chip, which is expected to be launched in the second half of 2019, could help Alibaba's fast-growing cloud and Internet of Things (IoT) businesses. Alibaba's Tmall Genie, an AI-powered
The "National Team" is a group of institutional investors that was formed after a sharp Shanghai Composite index correction in 2015. As an escalating trade battle with Washington raises growth concerns in Beijing, Chinese stocks may get a helping hand from state-backed investors. Deutsche
Writing in its August 2018 update, the Prime Value Opportunities Fund said that although ASX tech stocks may be getting all the attention, it is finding an abundance of growth opportunities to be found in other sectors. The fund gained 2.6 per cent in August, soundly beating the 1.4 per cent gain in
Chinese tech stocks jumped Wednesday after Chinese Premier Li Keqiang vowed not to pursue a policy of currency devaluation. Li said the recent weakening of the Chinese yuan was due to market forces. Li's comment will reassure investor confidence in China, Lukman Otunuga, a research analyst at FXTM
Fitbit jumped Wednesday after the wearable-device maker announced it is expanding its partnership with health insurer Humana. The global wearables brand recently benefited from President Donald Trump's decision to exclude smartwatches from the list of Chinese goods being subject to the recently
"Persistent depreciation of the RMB," China's currency, "will only do more harm than good to our economy," Chinese Premier Li Keqiang said Wednesday at a World Economic Forum event in Tianjin, China. North Korea and South Korea agree to take steps toward denuclearization. South
The US and China trade war could last 20 years,Alibaba founder Jack Ma said. Ma made the remark after President Donald Trump ordered the US Trade Representative to impose fresh tariffs on $US200 billion worth of Chinese goods. When commenting about his coming retirement, Ma says he has been prepared
Morgan Stanley says that in addition to a capital raise in 2018, Elon Musk may also need an outside partner for more financing. Wall Street remains doubtful that Tesla will go through the rest of 2018 without raising fresh capital. "Valuing Tesla shares is a volatile, unpredictable dynamic,"
Hedge fund legend Ray Dalio says the economy looks like it did in the late 1930s in many ways: interest rates hit zero in the early stage of each crisis, asset prices are near full capacity, interest rates are still low, the wealth gap has widened, populism is on the rise, and global tensions are rising
Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours. Sign up here to get the best of Business Insider delivered direct to your inbox. Banks need to transform themselves or they will be left in the dust by new fintech companies, according to a new report