Articles By Moran Zhang
Demand for gold by central banks and official sector institutions were more than double the level reported a year ago, as emerging market central banks continue to gobble up gold due to concerns about fiat currencies, such as the U.S. dollar and especially the euro, according to World Gold Council data released Thursday.
There comes a time in the life cycle of most commodities when China, home to 1.3 billion people and counting, takes over as the world's biggest consumer. For gold, that moment is drawing near.
JPMorgan Chase & Co.'s (NYSE: JPM) multibillion-dollar "London Whale" trading mess sent some well-known money managers running for the exit, but new regulatory filings show that several big hedge-fund players loaded up on JPMorgan as they saw the stock's 22 percent drop in the second quarter as a buying opportunity.
Warren Buffett's Berkshire Hathaway Inc. (NYSE:BRK.B) dumped its shares of Intel Corporation (Nasdaq: INTC) last quarter and cut its stake in The Procter & Gamble Company (NYSE: PG) while boosting its exposure to oil refining and oil services.
A mix of luxury brands and discounters reported quarterly earnings that topped expectations, results that underscored a broader report showing U.S. retail sales broke three consecutive months of declining growth in July, as consumers regained some semblance of confidence this summer.
At a time when big banks are constantly raising fees or imposing new ones to help them recover lost revenue from new regulations, not-for-profit credit unions are booming.
Bank of America Corp. (NYSE: BAC), the lender divesting assets to raise capital, said Monday it has agreed to sell Merrill Lynch's International Wealth Management business outside the U.S. to Swiss private bank Julius Baer Group Ltd.
Major data releases aplenty are on the economic calendar next week. In the U.S., investors will focus on July retail sales, industrial production, and consumer prices. In the euro zone, second-quarter gross domestic product figures across the major economies and the German ZEW index are the main highlights.
Retailers are using digital monitoring to sharpen their pitches of products and services to specific individuals, adjusting prices and strategically timing offers to catch us when and where we're mostly likely to spend.
The earnings calendar for the week ahead will be comparatively light, but we will still be hearing from a number of household names. Big-name companies due to report their quarterly earnings results include Wal-Mart, Sears, Home Depot, Groupon, John Deere, and Cisco.