China’s gargantuan e-commerce company Alibaba is opening a cloud computing hub in Silicon Valley, its first such center outside of China. The move is in synch with their global ambitions despite tough competition in their niche. The California hub is at an undisclosed exact location, kept secret for security reasons. It is situated somewhere in… Continue Reading
Speaking before the House Committee on Financial Services last week, Janet Yellen, head of the Federal Reserve, testified that the US financial system is much safer today than it was in 2007 when the most recent economic decline commenced. “I believe the financial system is much safer. There is twice as much high-quality capital among… Continue Reading
Elio Moti Sonnenfeld, also known as Elio Sonnenfeld, is a modern businessman with an illustrious heritage steeped in tradition. Reaching back three generations, Elio Moti Sonnenfeld’s great grandfather was one of the great rabbis of the late 19th and early 20th centuries in Jerusalem, before the establishment of the State of Israel. Born in Vrbové, (Slovakia),… Continue Reading
According to a report published by Boston-based research group Cerulli Associates, the number of financial advisors in the United States has fallen for five straight years. The report points to large numbers of experienced advisors entering retirement as the cause of the decline in numbers of these professionals. In 2014 there were about 285,000 financial… Continue Reading
South Korean auto maker Hyundai Motors has announced its plans to enter the commercial auto market in Europe and the United States. The move is based on the prediction that car sales are on the rise in these markets. When the US and European consumers can expect to see Hyundai in their regions has yet… Continue Reading
Marshall Lux, former chief risk officer for consumer businesses at JP Morgan, and now senior fellow at the Kennedy School at Harvard, believes that regulation which has been enacted in the wake of the financial crisis has disproportionately harmed smaller banks in the United States. Lux has been researching the issue of how recent regulations,… Continue Reading
Leveraged, inverse and inverse leveraged exchange-traded products first came on the scene in 2006. During the financial crisis, however, they rose to prominence as they showed outrageous returns. Many were attracted to the price swings and the opportunity to get amazing returns in a short period of time. Since that period, according to Michael Sapir,… Continue Reading
Last week diplomats from the US and Cuba met for the first time to discuss the way forward after Obama and Castro began the process of defrosting relations between the two countries. Business between the capitalist USA and the communist island to the south east of the US has been in a mummified state for… Continue Reading
The price of gasoline has been falling, falling and falling some more over the past several months, finally reaching its lowest price since April, 2009. The latest price dive, 13.3 cents during the last two weeks, may be the end of the slide, according to a survey by Lundberg released on Sunday. The average price… Continue Reading
President Obama will be delivering the yearly State of the Union Address on Tuesday night not only to Americans, but to a Congress controlled by Republicans in both houses. Nevertheless, Obama has been signaling that he intends to introduce the idea of increasing taxes on the wealthiest Americans in order to pay for tax cuts… Continue Reading