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Tag: quarter

Economists slash growth for fourth quarter after big retail sales drop

Economists slash growth for fourth quarter after big retail sales drop

Finance
Economists slashed fourth-quarter GDP forecasts Thursday, and now see growth closer to 2 percent than 3 percent, after a surprise drop in December retail sales. According to the CNBC/Moody's Analytics Rapid Update, economists in the survey see growth tracking at a median 2.4 percent pace, down 0.7 percentage points. December's retail sales fell 1.2 percent, compared to an expected gain of 0.2 percent. Economists said the report, delayed by the government shutdown, was suspect since it was not consistent with other economic data, like strong December and January job gains. ...
UK growth slows to 0.2% in fourth quarter of 2018

UK growth slows to 0.2% in fourth quarter of 2018

Business
By James Sillars, business reporter UK economic growth eased to 0.2% in the final quarter of 2018 as the clock ticked down to Brexit, official figures show.The preliminary figure from the Office for National Statistics (ONS) represented a significant slowdown on the 0.6% achieved between July and September but was in line with economists' forecasts. It meant that, subject to revisions, the economy grew by 1.4% over the 12 months - its weakest performance since 2014.The pound fell below $ 1.29 following the data release - a fall of almost half a cent - as investors digested the damage from Brexit uncertainty and the wider headwinds in the global economy linked to the US trade war with China. Image: The high street endured a t...
Venmo had a breakout quarter and is at a 'tipping point' to finally make money for PayPal, CEO says

Venmo had a breakout quarter and is at a 'tipping point' to finally make money for PayPal, CEO says

Finance
Investors finally got what they were waiting for in PayPal's quarterly earnings: Good news about Venmo. The peer-to-peer payments app, which PayPal acquired along with Braintree in 2012, has struggled to make money for its parent company. Wall Street analysts highlighted the app's performance as a key metric to watch in Thursday's earnings report. Venmo didn't disappoint. It had a breakout third quarter with payment volume surging 78 percent to a total $ 17 billion. That's still a fraction of PayPal's total $ 143 billion in volume for the quarter, which missed analysts' expectations — but it's encouraging, PayPal's CEO says. ...
More than a quarter of the globe is controlled by indigenous groups

More than a quarter of the globe is controlled by indigenous groups

Science
July 16 (UPI) -- New research suggests the role of indigenous people in land management and conservation is under appreciated. According to the new survey, indigenous groups own, use or have management rights over more than a quarter of Earth's land surface. Indigenous groups control approximately 14.6 million square miles. Roughly 40 percent of Earth's protected terrestrial land consists of acreage controlled by indigenous groups. The new research, published this week in the journal Wildlife Conservation Society, highlights the importance of indigenous groups to land conservation around the globe. "Understanding the extent of lands over which indigenous peoples retain traditional connection is critical for several conservation and climate agreements," Stephen Garnett, a professor at Cha...
The best-performing fund of the first quarter was put together by accident

The best-performing fund of the first quarter was put together by accident

Finance
Christopher Devlin, founder and chief investment officer of Selective Wealth Management, put together the best-performing fund of the first quarter. However, he did not mean it for the fund to be so tech-heavy."That was not part of the overall plan," said Devlin, who created the fund in January of last year. "As we analyze the investing landscape, we try to look for businesses that can grow earnings over the next five-to-10 years. We found a lot of those companies were in tech.""We weren't trying to ride the tech wave here," Devlin said.The fund's high exposure to tech paid off, nonetheless. The Selective Opportunity Foundation fund (SLCTX) returned 14.39 percent to investors in the first quarter, the highest among funds tracked by Morningstar. It is made up of 10 stocks, eight of which ar...