News That Matters

Tag: warns

An analyst warns investors against falling for a widely-held assumption about rising tech stocks

An analyst warns investors against falling for a widely-held assumption about rising tech stocks

Finance
Come Monday, the tech-heavy Nasdaq will try to kick-off its second positive week in a row. But it's poised to do so without small cap tech and Chinese internet companies. According to veteran market watcher Nicholas Colas, much of Wall Street is mistakenly assuming that the technology sector's big surge is broad-based. "It's largely a large cap phenomenon," the DataTrek Research co-founder said Friday on CNBC's "Trading Nation." The Nasdaq is now up almost 25 percent over the past 52-weeks, while the broader S&P 500 is up 16 percent in that same p...
Brexit: Carney warns no-deal could see house prices plunge

Brexit: Carney warns no-deal could see house prices plunge

Business
The Bank of England's governor has warned the cabinet that a chaotic no-deal Brexit could crash house prices and send another financial shock through the economy.Mark Carney met senior ministers on Thursday to discuss the risks of a disorderly exit from the EU.His worst-case scenario was that house prices could fall as much as 35% over three years, a source told the BBC.The warning echoes some of the Bank's previous comments.The Bank of England routinely carries out "stress tests" to check whether the banking system can withstand extreme financial shocks.Its latest one was conducted in November, when it said a 33% fall in house prices could occur in a worst-case scenario. Several reports said that the Bank governor also told the Downing Street meeting tha...
'No-deal' Brexit could cost £60m a day, Jaguar boss warns

'No-deal' Brexit could cost £60m a day, Jaguar boss warns

Business
The chief executive of Jaguar Land Rover has warned that supply bottlenecks resulting from a "no-deal" Brexit could bring to a halt to production at the company's UK car plants. Ralf Speth said that, with JLR producing 3,000 cars daily and relying heavily on "just-in-time" supply chains where parts are delivered shortly before they are used, he would be "very, very concerned" if there were blockages in the supply of parts.He told Sky News: "Just one part missing could mean stopping production at a cost of £60m a day. That is a huge risk."We depend on free, frictionless, seamless logistics."Dr Speth also repeated his warning, made in early July, that a hard Brexit would cost Jaguar Land Rover, the biggest private sector employer in the West Midlands, £1.2bn.He warn...
U.N. Syria envoy warns of 'perfect storm' in Idlib

U.N. Syria envoy warns of 'perfect storm' in Idlib

World
Aug. 30 (UPI) -- U.N. Special Envoy to Syria Staffan de Mistura warned of a "perfect storm" facing the country's Idlib province Thursday. De Mistra expressed concern for the residents of Idlib as President Bashar al-Assad's government forces, which are backed by Russia, are expected to launch an offensive to clear militants from the al-Qaida and Jabhat Fateh al-Sham -- also known as the al-Nusra Front -- militant groups from the area. "While we are talking, there are some discussions taking place, and we hope that they will be fruitful but that doesn't mean that we should be not worried, on the contrary, we are worried about any hurried escalation," he said. The Russian military amassed a fleet of at least 10 warships and two submarines off Syria's northwest coast in preparation for an as...
Fake news 'a crisis in our democracy', report warns

Fake news 'a crisis in our democracy', report warns

Technology
Voters are being manipulated by "fake news" on social media, according to a new report from MPs. The inquiry into fake news by the digital, culture, media and sport select committee says electoral law needs to be updated and tech companies need to do more to stop malicious propaganda on their networks. Image: Damian Collins said fake news was a threat to democracy Damian Collins, who chairs the committee, called the issue "a crisis in our democracy - based on the systematic manipulation of data to support the relentless targeting of citizens, without their consent, by campaigns of disinformation and messages of hate".The report suggests introducing a new tax on social networks to pay for digital literacy programmes in schools.It also s...