U.S. Passes Russia — Briefly — to Become Top Oil Producer
published Oct 31, 2018, 4:26:03 PM, by David Marino (Bloomberg) — The U.S. surpassed Russia in August to claim the title of world’s top oil producer, with the largest year-on-year output increase in U.S. history. Output rose to a record 11.346 million barrels a day, according to a monthly report
Netflix Gives Films Exclusive Theatrical Run Ahead of Streaming
published Oct 31, 2018, 7:10:42 PM, by Anousha Sakoui (Bloomberg) — Netflix Inc. is parting with its long held rule of streaming new movies at the same time as their theatrical release, bringing it more in line with Hollywood studios and potentially giving the company’s films a greater chance for
Asia Stocks Start November Mixed; Pound Climbs: Markets Wrap
published Oct 31, 2018, 7:39:24 PM, by Adam Haigh (Bloomberg) — Stocks in Asia had a muted start Thursday after global equities rallied on the final two days of what was still their worst month in more than six years. The pound climbed on hopes for progress in Brexit negotiations.
Trump Says Stock Market Taking `A Little Pause’ Before Midterms
published Oct 30, 2018, 1:36:24 PM, by Justin Sink (Bloomberg) — President Donald Trump attributed declines in leading U.S. stock indexes to “a little pause” as investors wait to see the results of the midterm elections. “If you want your Stocks to go down, I strongly suggest voting Democrat,” Trump
Trump Visits Pittsburgh After Shooting, Against Mayor’s Wishes
published Oct 30, 2018, 4:22:34 PM, by Jennifer Epstein (Bloomberg) — Donald Trump and his family came to Pittsburgh three days after a gunman killed 11 people at a local synagogue, defying the city’s mayor and many residents who said the president shouldn’t visit so soon after the attack. The
Outspoken Rapper Kanye West Says He’s Backing Away From Politics
published Oct 30, 2018, 5:35:45 PM, by Clementine Fletcher (Bloomberg) — Musician and fashion designer Kanye West, who discussed prison sentencing and North Korea over lunch with U.S. President Donald Trump just earlier this month, tweeted today that his “eyes are now wide open” and that he’s backing away from
There’s a Tax Ax Poised to Fall on China’s Wealthy: Shuli Ren
published Oct 24, 2018 5:00:22 PM, by Shuli Ren (Bloomberg Opinion) — Meat and poison: Tax cuts for some in China are coming back to bite as levies increase on others. The slowing economy has prompted Beijing to announce a series of reductions this year, ranging from the value-added tax
How to Debate Finance Without Being a Jerk: Barry Ritholtz
published Oct 29, 2018 11:00:24 AM, by Barry Ritholtz (Bloomberg Opinion) — The arrest of a partisan extremist who mailed explosive devices to political and media critics of President Donald Trump was a reminder of what happens when rhetoric turns nasty. As political debates become emotionally charged, people tend to
New York’s Online Fantasy Sports Law Voided by State Judge
published Oct 29, 2018 6:53:34 PM, by Erik Larson and Christopher Palmeri (Bloomberg) — The New York law that legalized online fantasy sports games — allowing FanDuel Inc. and DraftKings Inc. to do business in the state — runs afoul of the state Constitution, a judge ruled. In an Oct.
Amazon Tumbles on Disappointing Forecast for Holiday Revenue
published Oct 25, 2018, 4:36:32 PM, by Spencer Soper (Bloomberg) — Amazon.com Inc. issued a disappointing revenue and profit forecast for the busy holiday quarter, suggesting sales growth is slowing for the e-commerce giant while higher pay for warehouse workers could hurt the bottom line. Revenue will be $66.5 billion