Latest news for AMG Yacktman Service(YACKX) (See analysis on YACKX)
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Latest business news
Monday August 31st 2015: Latest financial news from the worldAsian stocks set for worst monthly drop in three years as Fed, China loom
By Saikat Chatterjee HONG KONG (Reuters) - Global financial markets looked set for another rough week on Monday, with stocks and commodities falling ahead of data that could give clues on when the U.S. will raise interest rates and surveys which are likely to point to further weakness in China. Confusion over policy direction in the world's two largest economies sent global markets into turmoil early last week, with the wildest price swings in years pushing investors to the exits. European shares looked set to follow Asian shares and U.S. stock futures lower on Monday, with Germany's share index expected to open down 1.35 percent and France's CAC 40 likely to fall 1.39 percent, according to IG.
Exclusive: Citi aims to boost equities franchise amid industry shakeout
Citigroup plans to rebuild its long-neglected equities franchise seeking to capitalize on a retrenchment by rivals in the face of new rules designed to make the financial system less risky, according people familiar with the bank's plans. Citi has also hired 11 analysts so far this year to support its investment advisory business, and is increasing financing of the unit in general, said the sources, who did not have permission to be quoted in the media.
Focus turns to U.S. data as China slowdown looms
After a dizzying two weeks that saw a rapid plunge and rebound in equity prices, investors are looking forward to a week of economic data that may provide clarity on the likelihood of a near-term U.S. interest rate hike and help tamp down the market's recent wild swings. The economic figures will culminate in Friday’s jobs report that should reveal more about the strength of the U.S. economy. Car sales, construction spending, the Federal Reserve's "beige book" and jobs growth may show the economy is strong enough to withstand the first rate hike in nearly a decade from the Federal Reserve, despite worries about a hard landing for China’s economy.
Venture capital cash surfers may see waves recede in market turmoil
The waves of cash surfed relentlessly by some of Silicon Valley's largest venture-backed businesses are showing signs of receding amid concern the companies may already worth more than they're likely to be valued once they finally go public. Investors have created 132 privately held companies valued at $1 billion or more each, according to tracker firm CB Insights, including ride-hailing service Uber [UBER.UL], accommodation service Airbnb and messaging app Snapchat. In the last couple of years, the biggest VC-backed firms, dubbed "unicorns" in 2013 by venture capitalist Aileen Lee of Cowboy Ventures, raised increasing amounts of money at a rapid pace.
BNY Mellon expects to fix pricing glitch before markets open
(Reuters) - BNY Mellon Corp expects to fix the computer glitch that disrupted pricing of U.S. mutual funds and exchange-traded funds before markets open on Monday, its chief executive said. The resolution of the issue, which affected the calculation of billions of dollars of assets last week, has taken far longer than expected, CEO Gerald Hassell said on a conference call, a transcript of which was made available to Reuters. "We expect to complete Friday's NAVs for all but one of the affected fund clients by tomorrow morning ... Our goal is to provide fund clients with system-generated NAVs for Monday by tomorrow night," Hassell said on Sunday night.
China stocks slide as crackdown on speculators spreads, lose 11 percent in August
China stocks fell sharply on Monday before recovering much of their losses as regulators cracked down on speculators which Beijing blames for a 40 percent crash in the country's stock markets since June. "A pull back in the market was to be expected as some investors are taking profits after the two-day rally," wrote Gerry Alfonso, director of Shenwan Hongyuan Securities, referring to a rebound on Thursday and Friday after ferocious selling earlier last week. China will release its official reading on August factory conditions on Tuesday, and economists polled by Reuters believe activity likely shrank at its fasted pace in three years.
Suzuki Motor says it will buy back VW stake as court settles feud
Japan's Suzuki Motor Corp said on Sunday it would buy back the 19.9 percent stake it sold to Volkswagen AG after an international arbitration court ordered the German automaker to sell its holding. VW's stake, acquired in January 2010 for 1.7 billion euros ($1.9 billion), was worth some $3.8 billion at Friday's closing price. "It used to feel as if a small bone were stuck in my throat," Suzuki Chairman and Chief Executive Osamu Suzuki told a news conference.
Boeing uses its clout to control supplier consolidation
By Alwyn Scott NEW YORK (Reuters) - Berkshire Hathaway Inc's $37 billion deal for aerospace supplier Precision Castparts Corp is encouraging investors to consolidate the fragmented aircraft components industry, even as Boeing Co uses its clout as the world's biggest plane maker to put a check on some deals. Potentially standing in their way, though, is Boeing, these people said. Boeing is the biggest customer of most aerospace suppliers, and is slowing some acquisitions by using its power to approve the transfer of its supply contracts from one owner to another.
World to Fed: We're prepared for U.S. rate hike, so don't delay
Central bankers from around the world are telling their American counterparts that they are ready for a U.S. interest rate hike and would prefer that the Federal Reserve make the move without further ado. In private and in public at last week's global central banking conference in Jackson Hole, the message from visiting policymakers was that the Fed has telegraphed an initial monetary tightening and, following a year-long rise in the dollar, financial markets globally are as ready as they can be.
Paypal seen rising 40 percent from post spinoff lows: Barron's
NEW YORK (Reuters) - PayPal Holdings Inc , the e-commerce group trading sharply off its recent offering price, could rise 40 percent to $46 a share if it succeeds with investments tied to payments systems innovation, the Aug. 31 edition of Barron's said. Spun off in July by auctioneer eBay Inc , PayPal is now clear to do deals with big vendors like Staples and move into back office operations and other services, according to Barron's. PayPal shares last week traded at $34.60, or over $4 less than its offering price in July, Barron's said. ...
Tesco wants you to buy vinyl records with your milk
Music headlines are often dominated by which albums are (or aren't) on popular streaming services, but an older music format is quietly making a comeback: vinyl. After the British Phonographic Industry ...
Those Netflix movies you lost just went to Hulu
ASIC commits to fighting online attacks over the next four years
Google OnHub review: Routers don't have to be so complicated
Superloop announces AU$1.19m loss for FY15 as network construction continues
Akamai eyes growth in security and startups
The Internet of Things is a safety issue, and therefore a business risk
Optus pairs with Cisco for data virtualisation
Ferrofluid 'font' produces trippy, one-of-a-kind art
You may have seen ferrofluid (aka magnetic ink) used for clever science demonstrations in school, but it might just get a much cooler application before long. Linden Gledhill and Craig Ward have developed ...
Australian defence force employs Oculus gear to explore VR
Pillar Administration to migrate platform using Acurity software
Alcatel-Lucent CEO to gain €14m from Nokia merger
With the pending merger of Alcatel-Lucent and Nokia, the CEO of the French company has come under fire by local governing bodies after it was revealed he is set to pocket €14 million when the deal is finalised.
Swans help create smoother camera drone videos
The next time you see a graceful, dramatic video shot by a camera drone, you may have a swan to thank for the absence of any jittery footage. Stanford University researchers are developing camera suspension ...
User data manifesto seeks to give people control of their data
Battle of the blowouts: How real can Labor make its Real NBN?
Smoother movements help robots save a lot of energy
Nvidia debuts Grid 2.0 for enterprise virtual desktops, apps
Netflix hopes you won't mind losing access to some big movies
Here's hoping that you weren't bent on watching The Hunger Games: Catching Fire or World War Z on Netflix -- if so, you don't have much time to do it. Netflix has confirmed that it won't renew its longstanding ...
Smartphones have got boring? Don't believe it
Google's self-driving cars can't handle bicycle track stands
Ever performed a track stand, where you keep your bike upright at a stop without taking your feet off the pedals? If you have, you'll want to avoid trying that around Google's self-driving cars, at least ...
Tablet shipments will fall by 15 percent this year but Surface Pros are leading the move to bigger screens
Tablet shipments are still falling but tablets and 2-in-1s with bigger screens, like Microsoft Surfaces, are helping to extend the market from entertainment to business, from content consumption to creation.
Europe doesn't properly recycle most of its electronic waste
You probably know that you should recycle your old tech when you're done with it, but getting other people to do the same? That's quite hard, apparently. The United Nations and INTERPOL have found that ...
The next Apple TV is reportedly much more expensive
DevOps decoded: Guru explains what it is and why you should care
NSA wants encryption that fends off quantum computing hacks
The National Security Agency isn't just yearning for quantum computers that can break tough encryption -- it wants encryption that can protect against quantum computers, too. Officials have begun planning ...
The After Math: Spam kings, Microsoft milestones and a bionic penis
It's been a wild week, and not just for our stock portfolios. The internet's self-described "Spam King" admitted to posting more than 27 million ads on Facebook. Microsoft celebrated the 20th ...
No renders: New BlackBerry Venice images show microSD slot, 18 megapixel camera
Inhabitat's Week in Green: robot wars and edible batteries
Each week our friends at Inhabitat recap the week's most interesting green developments and clean tech news for us -- it's the Week in Green. Tesla gets a lot of press -- but just how good are its vehicles? ...
LAPD's body cameras roll out Monday, but footage won't be public
Amazon's Echo speaker plays music from multiple accounts
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