Sector News

Colony Capital’s Second-Quarter Results Miss Expectations

Colony Capital’s Second-Quarter Results Miss Expectations

Colony Capital (CLNY), which holds real-estate assets, reported second-quarter results that came in below analysts’ expectations on Friday as the company said it’s mulling the sale of its “multi-billion dollar” industrial portfolio. Revenue slowed to $573.4 million from $615.5 million in the same period of 2018, and well below the consensus on Capital IQ, which was for $669.5 million. Core […]

US Oil Rig Count Posts Second-Straight Decrease

US Oil Rig Count Posts Second-Straight Decrease

The number of oil rigs operating in the US fell for a second-straight week, holding at the lowest in 16 months as prices for crude head for a weekly decrease as demand projections dimmed. Energy-services firm Baker Hughes (BHGE) said oil rigs in the world’s biggest crude consumer fell by one to 788 through Friday. That’s also down 75 rigs […]

Powell Says Fed Ready to ‘Act as Appropriate’ to Sustain Growth Amid Trade Developments

Powell Says Fed Ready to ‘Act as Appropriate’ to Sustain Growth Amid Trade Developments

Federal Reserve Chair Jerome Powell said the central bank will “act as appropriate” to sustain the US expansion and it’s monitoring the implication of developments around trade negotiations on the economic outlook for the country. Powell said they don’t know “how or when these issues will be resolved” in a speech in Chicago on Tuesday as the Federal Open Market […]

Amazon to Reportedly Stop Bulk Orders from Small Suppliers

Amazon to Reportedly Stop Bulk Orders from Small Suppliers

Amazon (AMZN) will stop placing bulk orders with thousands of small suppliers over the next few months, Bloomberg reported on Monday, citing three sources familiar with the company’s plans. Amazon is looking to cut costs and focus wholesale purchases from major brands such as Procter & Gamble (PG), Sony (SNE), and Lego, the sources said. This will ensure that the […]

Facebook Looks to Launch Own Cryptocurrency in Q1 2020

Facebook Looks to Launch Own Cryptocurrency in Q1 2020

Facebook (FB) is finalizing plans to launch its own cryptocurrency in Q1 2020 with a digital payments system in about a dozen countries, BBC News reported on Friday. Facebook is looking to start testing its cryptocurrency, referred to internally as GlobalCoin, by the end of the year. The social media company is expected to outline more detailed plans this summer. […]