A South Carolina school district has sued its former financial advisors and bond counsel alleging that representatives of the firms knew or should have known about the fraudulent activities of the district’s former chief financial officer. Brantley Thomas, the former Berkeley County School District CFO who is now serving a more than five-year-sentence for embezzling
0 Comments
Check out the companies making headlines midday Friday: Big Lots — Shares of Big Lots jumped 15.33 percent after the company reported better-than-expected fourth-quarter earnings. The retailer’s earnings came in at $2.68 earnings per share, 38 cents higher than a Refinitiv forecast. The company’s same-store sales were up 3.1 percent, nearly triple Refinitiv’s estimate of
0 Comments
U.S. homebuilding increased more than expected in January as construction of single-family housing rebounded after four straight monthly declines, but building permits for these units fell to the lowest level since mid-2017. Housing starts jumped 18.6 percent to a seasonally adjusted annual rate of 1.230 million units in January, the Commerce Department said on Friday.
0 Comments
Global index provider MSCI recently announced it would quadruple the percentage of China A shares—shares of companies that trade on mainland exchanges like Shanghai and Shenzhen and were previously available only to Chinese investors—in its China, global and emerging market indexes by November 2019. By then, A shares will have what MSCI calls a 20%
0 Comments
DeepMind’s new office.DeepMind DeepMind is moving out of Google’s U.K. headquarters and into a large new London office. The artificial intelligence lab, which was acquired by Google in 2014 for around £400 million, will move into a new building in King’s Cross at some point in 2020. It will include a double helix staircase, a lecture theatre,
0 Comments
The Puerto Rico Oversight Board and governor quarreled Friday about payments for health insurance, their latest clash over government policy. Gov. Ricardo Rosselló sent out a press statement saying he was extending employer contributions for employee health insurance, specifying that the extension was inconsistent with the board approved fiscal plan, which calls for the employer
0 Comments
Gaming cryptocurrency Enjin coin (ENJ) is up 70 percent after news reports earlier today that confirmed a partnership with South Korean technology giant Samsung. On Friday, media outlets in South Korea reported the partnership between Enjin, the Singapore-based company behind ENJ, and Samsung’s flagship smartphone S10, was confirmed, which ignited Korea’s investor base to jump
0 Comments
Nobel laureate Robert Shiller suggests a self-fulfilling is prophecy unfolding on Wall Street that could ultimately derail the longest bull market in history. According to the Yale University economics professor, growing worries about a recession could make it come sooner — even if there isn’t a specific event to spark it. “A lot of people
0 Comments