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Tag: Street

Wall Street bull says a near-term pullback is coming

Wall Street bull says a near-term pullback is coming

Finance
The economy is booming, but one of Wall Street's biggest bulls says a near-term pullback is coming. "History shows that, when the rate of change for the S&P is where it recently got to on this bump up, you have a 2 to 5 percent pullback in the context of the bull market, the uptrend that started in April," Tony Dwyer, chief market strategist at Canaccord Genuity, said Tuesday on "Fast Money." The S&P 500 added about 0.5 percent, closing at 2,820.40 on Tuesday, with gains in materials, telecommunications and energy stocks. Still, Dwyer predicte...
WH Smith voted UK's worst High Street shop in Which? survey

WH Smith voted UK's worst High Street shop in Which? survey

Business
WH Smith has been voted the worst retailer on the UK High Street in a survey of more than 10,000 consumers.Customers complained the shops were out-of-date, products were expensive and staff were rude in the survey by consumer group Which?Cosmetics chain Lush, discounter Savers and toy chain Smyths Toys came top in the survey, which asked shoppers for their thoughts on about 100 retailers.WH Smith said just 184 shoppers had commented on its stores in the survey."We serve 12 million customers each week, and despite a challenging retail environment we continue to open new shops, and to maintain our presence on the UK High Street," a spokesperson said. Which? said its ranking was based on customers' experiences of buying items other than groceries, their leve...
Some cheer for retail amid high street crisis

Some cheer for retail amid high street crisis

Business
Retail sales bounced back last month after the so-called Beast from the East exacerbated the crisis facing the high street, according to official figures. The Office for National Statistics (ONS) recorded a 1.6% rise in sales volumes during April compared to March - a rate that smashed economists' expectations.The performance represented some hope for retailers - and the economy - that February and March proved a blip for the shopping sector because of the poor weather.Previous industry statistics had suggested sales slumped at their fastest pace for more than two decades in April.:: Retail sales slide in March as cold weather takes toll Image: Heavy snow and biting temperatures in February and March took their toll on the high street ...
A former top Wall Street regulator turns to the blockchain

A former top Wall Street regulator turns to the blockchain

Finance
SAN FRANCISCO — Gary Gensler was one of the top financial regulators in the Obama administration, the finance chief for Hillary Clinton's 2016 presidential campaign and, before both of those jobs, a partner at Goldman Sachs.Now, like many other big names from business and government, he is plunging into the world of the blockchain, the data-tracking technology introduced by Bitcoin.Mr. Gensler, 60, has recently gone to work at the Massachusetts Institute of Technology, where he will write and teach about the potential he sees for blockchains to change the financial world.More from the New York Times: Subpoenas signal S.E.C. crackdown on initial coin offeringsHow Trump consultants exploited the Facebook data of millionsAn explanation of initial coin offeringsHe will also use his position to
Spotify valued at $30bn in Wall Street debut

Spotify valued at $30bn in Wall Street debut

Technology
Spotify made its stock market debut on Tuesday, valuing the loss-making music streaming service at more than $ 30bn.Its stock opened at $ 169.90, up more than 25%, before slipping back to close at $ 149.01. On Monday, the New York Stock Exchange set the company's stock reference price at $ 132.The Swedish company took an unusual step listing directly onto the New York Stock Exchange, which could make the stock volatile.Typically, companies seeking a stock market listing hire investment banks to sell shares on their behalf and brokers help match buyers and sellers to make sure that the stock does not have a volatile debut.:: Analysis: Why is Spotify taking this unorthodox route to market?"Spotify is floating on the stock market at a pretty inauspicious time for the tech industry, which has ...