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Tag: wall

Uber shares tumble as profit figures disappoint Wall Street

Uber shares tumble as profit figures disappoint Wall Street

Technology
Uber's shares went into reverse on Thursday after the taxi-hailing company unveiled profit figures that failed to live up to expectations.Revenue growth slowed in face of heavy competition, leading to the company posting its largest quarterly loss.Uber and its rivals are spending heavily to expand, but boss Dara Khosrowshahi said that the competitive pressures are easing.But that didn't stop Uber's share price tumbling 13% in after-hours trading.On Wednesday, rival Lyft reported figures that were generally welcomed on Wall Street, and there was an expectation that Uber would also post positive numbers.But Uber's loss widened to $ 5.2bn (£4.3bn) in the three months to 30 June, from $ 878m in the quarter last year. The figures reflected $ 3.9bn of share-bas
Wall Street is relying too much on the Fed to extend the record rally, Wilmington Trust warns

Wall Street is relying too much on the Fed to extend the record rally, Wilmington Trust warns

Finance
Even if the Federal Reserve cuts rates later this month, Wilmington Trust's Meghan Shue warns the market is vulnerable to a correction.The firm's senior investment strategist believes Wall Street is overestimating the Federal Reserve's influence to support the record highs. "The market is putting a lot of stake in the ability of the Fed to support the market," she said on CNBC's "Futures Now " last Thursday.Shue sees a number of red flags that could prevent stocks from staying at record highs. She shifted to neutral from positive on the market in early May in reaction to the U.S.-China trade talks breaking down. "We've been a little bit more cautious," said Shue, a CNBC contributor. "If we do get that next round of tariffs on the remaining imports from China, we think it would be enough to...
Senate Democrats press Pentagon officials on wall funding in budget

Senate Democrats press Pentagon officials on wall funding in budget

Business
March 14 (UPI) -- Democratic senators on Thursday demanded answers from Department of Defense officials about military funding for President Donald Trump's emergency declaration at the U.S.-Mexico border during a Senate Armed Services Committee hearing on the fiscal 2020 budget. "I can't tell you how wrong this is. This is abusive," said Sen. Martin Heinrich, D-N.M., about the president's emergency declaration. "I can guarantee that if you let this happen, it'll happen under the next president and the next president." Gen. Joseph Dunford, the chairman of the Joint Chiefs of Staff, acting Secretary of Defense Patrick Shanahan and David L. Norquist, the Pentagon's comptroller, appeared before the committee to defend the White House's request for $ 750 billion in national defense, which inc...
Trump's wall: Mind the gaps

Trump's wall: Mind the gaps

Technology
Media playback is unsupported on your device "We gotta get outta here!" cries Agent Daniel Hernandez of US Border Patrol.Moments earlier a hurled rock from over the fence whacked the tin roof next to us with an almighty thud. Its target: Agent Hernandez, my camerawoman and yours truly."You gotta limit your exposure when you're there by the International Fence, you know," says Agent Hernandez, once we're safely back in his truck.I do now.We are in southern Arizona at the Nogales Border Crossing checkpoint.While President Trump demands a wall costing several billions of dollars, and the Democrats suggest technology would be better suited to the job, we are being given a whistle-stop tour of some of the tech already in use within Arizona's Tucson...
Arizona lawmaker pushes porn tax to pay for Trump's border wall

Arizona lawmaker pushes porn tax to pay for Trump's border wall

Finance
An Arizona legislator has proposed a way to fund a border wall: Charge internet users a tax for viewing pornography. Earlier this month, Arizona Republican state senator Gail Griffin proposed HB 2444. The legislation would require manufacturers and distributors of internet-connected devices to block people in the state from viewing adult content — unless those users pay a $ 20 tax. Revenue from the so-called porn tax would go toward building a border wall between Mexico and the Grand Canyon State, according to the text of the bill. President Don...