Google’s Android Wear platform is going to gain more powers on a continuing basis, thanks to frequent significant updates. Upcoming features planned for Android Wear in the immediate future include support for GPS on devices, instead of having to rely on connected smartphones, and the ability to work with other Bluetooth wearables in potentially interesting ways.
A drone captures images of Apple's second campus which is currently under construction. The aerial footage shows the building is a circular structure that matches the ‘spaceship’ comparisons. This building will house 13,000 employees. The actual structure will feature 360-degree curved glass. Inside it will feature 300,000 square-feet of research space and a 1,000 seat auditorium. Apple’s new campus will also be powered by greener resources including solar panels and natural gas. The local energy grid would be used only in emergencies. Perhaps the most notable thing about this campus is all the trees surrounding it. There are over 7,000 trees including cherry, apple, olive, and apricot trees. Cars are parked in an underground parking lot.
The U.S. dollar traded near its 2014 high against the yen after strong U.S. manufacturing data supported bets that the U.S. economy is healthier than that of other major developed rivals. The Institute for Supply Management (ISM) said Tuesday that U.S. manufacturing companies grew at the fastest pace since March 2011 in August. The dollar traded at 105.12 yen in the last minutes, just below the year’s high of JPY105.33. Should it stay above JPY105 for the rest of the day, it would bode well for future gains, according to Boris Schlossberg, of BK Asset Management.
The U.S. stock market pulled back Tuesday, but Staples jumped after an upgrade and Apple, Tesla also climbed. A reading on U.S. factory activity surpassed expectations, but didn’t spark a rally for the main indexes. “A lot of that was probably already built into the market,” said Bruce Bittles, chief investment strategist at Robert W. Baird & Co., noting that stocks achieved strong gains in August partly in anticipation of such upbeat economic data.
Apple has patched a security hole that may have allowed hackers to access the iCloud accounts of several celebrities and leak them on the web forum 4Chan, according to CBS News report, citing Engadget.
Tesla shares surged after Stifel Nicolaus analyst James Albertine raised his rating to buy from hold, and set a price target of $400, which implies a near 50% rally from current prices. Tesla shares now at $284.77.
HP plans to launch a cheap Windows tablet called the HP Stream 7. While the company hasn’t officially announced the product yet, Microsoft mentioned the tablet in July as an example of inexpensive new Windows machines on the way. According to Mobile Geeks, the HP Stream tablets are small Windows devices with Intel Bay Trail chips, and a starting price of EUR179 in Europe. The 8 inch model will sell for EUR249 and up. Both models will likely be cheaper when they launch in the United States. The HP Stream 7 features a 7 inch, 1280 x 800 pixel display, an Intel Atom Z3735G processor, 1GB of RAM, and 16GB of storage. It runs Windows 8.1 with Bing software. The Stream 8 has similar hardware, but a larger screen.
In 2013, the iPhone 5C and 5S were launched on the second Tuesday of September. This year Apple will probably also come up with two new phones, one with a 4.7-inch screen and another with 5.5-inch display. Sapphire glass has been consistently mentioned in reports surfacing about the iPhone 6. The pricing of the iPhone 6 depends on the type of glass used because Sapphire is seven-times costlier than the Gorilla glass. Reportedly, the power button is located on the side of the phone instead of the top. The camera is expected to project slightly more from the back as the company is adding new features. The fresh updates reveal that Apple Inc. is readying a digital payment system for the iPhone 6 through which the users will be able to make a secure payment with their phones. Apple’s event comes at a time when Android is accounting a major market share with smartphones and wearables. A new larger iPhone will likely help Apple counter the competition from Samsung as well as low-priced Asian handset makers.
European stocks waded between gains and losses Tuesday, with investors moving with caution as they wait for definitive word on whether the European Central Bank will approve a new round of monetary stimulus. Basic material, industrial and financial issues moved higher, but the moves were offset by losses in the telecom, energy and utility sectors. The ECB will meet on Thursday, with investors watching for ECB President Mario Draghi to lead a possible launch of full-fledged quantitative easing, which he heavily hinted at doing during a gathering of global central bankers in Jackson Hole, Wyo., last month.
Apple Inc. has announced it will host an event on September 9 2014 at the Flint Center of the Performing Arts in Cupertino, and the market is clearly expecting the company to launch the much-anticipated iPhone 6. The iPhone maker has made it clear that September is its favorite month for the launch of new products. Even though there are no details from Apple yet, it is expected that this could be the date that all have been waiting for.
Samsung Electronics will announce the Galaxy Note 4 phablet in less than 24 hours. After being bombarded with rumors and leaks for months, Samsung fans will be able to see what the actual phablet has in store for them. Over the past few days, Samsung has released several teaser videos in an attempt to hype up the Galaxy Note 4. The company doesn’t show the device directly in its teaser videos. Instead, it teases some features such as the S Pen stylus. Various leaks and rumors suggest that the Galaxy Note 4 will come with a monster 5.7-inch QHD screen with 2560 x 1440 Super AMOLED display with 515 pixel density. The phone will be powered by 4GB RAM and quad-core Snapdragon 805 processor with a clock speed of 2.5GHz.
Twitter Inc CEO Dick Costolo received harsh words from Brian O’Malley, a partner at venture capital firm Accel Partners, which owns Twitter shares. According to O’Malley, Costolo is responsible for the executive trouble, adding,”If someone’s gotten divorced once, you really don’t know who’s to blame … But if someone’s gotten divorced five times, there may be a pattern there.” As far as Twitter Inc’s new head of product Daniel Graf’s role in the organization is concerned, it appears he has not done much to improve product development at Twitter, analysts say.
Apple's iPhone 6 launch, expected next Tuesday, will boost China's export growth by 1% per month for the rest of 2014, says Bank of America Merrill Lynch. The handsets are mostly manufactured in China. China's exports already jumped 14.5% in July from July 2013. On a three-month moving average basis, China's exports rose 9.6% in Q2. The iPhone 6's release will boost Taiwan's exports as well as China's, say Bank of America economists Ting Lu and Marcella Chow in a report published Monday. IPhones are assembled in mainland China and include chips manufactured in Taiwan. And the Apple-designed next-generation A8 processor is manufactured in Taiwan, say the economists.
Jack Ma knows how to time an initial public offering. The 49-year-old former school teacher preparing to list Alibaba Group Holding Ltd. during a record rally for U.S. stocks did the same thing seven years ago, when Alibaba.com Ltd. went public in Hong Kong a week after the Hang Seng Index hit an all-time high. "Now, even with the Nasdaq Composite Index at a 14-year high, “the business environment is more favorable, it’s not just an asset bubble,” Alex Wong, Hong Kong-based asset-management director at Ample Capital Ltd., said. “This is time for these kinds of businesses to blossom.”
The agreement between Facebook and WhatsApp might face a new obstacle as the European Union antitrust officials have sent detailed questions to the competitors and customers of the social network and WhatsApp. The EU regulators want to understand the difference between a social network and the messaging application, and to get an insight into the competition scenario, according to the Wall Street Journal.
Tesla Motors Inc. has a market capitalisation of $35 billion compared to General Motors Company’s $55 billion. Such numbers do raise a question – Can Tesla pass GM in this regard? It is not out of the question, says a recent report. It seems like Tesla is stronger than presumed, as its market capitalisation isn’t as far behind as one would think, and General Motors’ legal issues are hurting its earnings.
Russian Foreign Minister Sergei Lavrov called on the United States to push Kiev into giving up its military campaign against pro-Russia separatists in the east of the country and negotiate a political compromise. “It’s imperative to moderate the ‘party of war’ in Kiev, and the only one who can really do that is the US,” Lavrov said today, according to Interfax. He hopes Washington can pressure Ukrainian President Petro Poroshenko into reaching a deal during his planned visit to the US later in September.
US construction spending jumped a seasonally adjusted 1.8% in July, the Commerce Department announced today. The gain was stronger than the 1% projected by economists. In addition, June's drop was revised higher to a 0.9% decline from an initially reported 1.8% slump.
Twitter Inc. shares rallied after today’s opening bell on Wall Street and rose above $50 for the first time since March. Twitter’s stock was last at $51.08 after opening at $50.02. Investors’ worries eased in July when Twitter beat analysts’ estimates and posted stronger-than-expected growth in monthly active users. Twitter shares have gained 60% in the last three months, but are still down 20% year-to-date.
American manufacturing activity expanded in August at its fastest pace since March 2011 as orders rose by the most in 10 years. This shows US factories will help power the economy into the third quarter. The Institute for Supply Management (ISM)’s index unexpectedly surged to 59 points from July’s 57.1, the research group reported today.
The IBD/TIPP Economic Optimism Index came in at 45.2 points in September. It was previously 44.5 points.
August ISM (Institute for Supply Management) Manufacturing index is 59.0 points, it was expected to be 57.0 points versus 57.1 points previously.
Shares of Apple Inc. rose 0.7% to a record high at $103.14 per share boosted by anticipation of new devices ahead of its 9 September event.
Groupon Inc. shares rose 2% to $6.93 per share in early trade today, after RBC upgraded the stock to ‘sector perform’ from ‘underperform’, citing a more reasonable valuation after a pullback and signs of operational improvements.
Emerging-market stocks declined for the first time in 3 days as Samsung Electronics Co. led a drop in technology shares, offsetting gains in Chinese and eastern European equities. Shares of Samsung sank to a 2-year low in Seoul today after Shinhan Investment Corp. said the company’s profit will drop.
The headline RBC PMI came in at 54.8 points in August. It was expected to be points following 54.3 points previously.
Shares of US electric car maker Tesla Motors got a boost before the session start today as financial service provider Stifel raised upgraded them ‘buy’ from ‘hold’. Stifel’s analysts also raised their price target on the carmaker to $400 per share. Tesla’s stock rose 2.7% to $277 per share in pre-market hours.
A new poll today showed a surge in support for Scottish independence just weeks before Scots vote on whether to leave a 300-year-old union with the rest of the United Kingdom (namely England, Wales and Northern Ireland). Research firm YouGov said that in its latest poll of more than 1,000 Scots, 42% said they intend to vote for independence in a referendum on 18 September, while 48% said they plan to vote to keep Scotland part of the UK. “A close finish now looks likely, and a ‘yes’ victory is now a real possibility,” said YouGov’s President.
The European Union (EU) will make a decision on further Russia sanctions by Friday, Italian Foreign Minister and next EU foreign policy chief Federica Mogherini announced today. Speaking at a news conference in the European Parliament, Mogherini said the work on the new sanctions package started on Monday and said the European Commission will present options by Wednesday.
Prime Minister Shinzo Abe's plan for the Japanese economy to generate self-sustained growth (so called Abenomics) based on his three policy pillars of massive monetary easing, spending and reforms appears to be faltering. Gloomy economic data suggests the plan is not succeeding as hoped and the only short-term emergency plan appears to be further central bank stimulus or delaying a second rise in the sales tax slated for October 2015.
US President Barack Obama is to arrive in Estonia tonight. He is expected to deliver reassurance to Baltic nations and a direct warning to Russian President Vladimir Putin that the North Atlantic Treaty Organization (NATO) stands by its military commitment to ensure the security of its member countries. At NATO’s summit this week in Wales, Obama will also urge the organisation members to spend a greater share of their budgets on defence.
President Vladimir Putin faces possible further restrains on debt sales and access to technology as European Union regulators review all options at their disposal to further sanction Russia on its intervention in Ukraine. The European Commission will propose a second round of economic penalties this week and EU governments may endorse the proposals within days of receiving them.
Prices of goods leaving the eurozone's factory gates resumed their slump in July. That’s an indication that the currency bloc will not soon escape a prolonged period of very low inflation that risks undermining its fragile economy. Today’s producer price report adds to other data signalling a need for fresh stimulus measures by the European Central Bank (ECB) at its policy meeting on Thursday.
Consumer prices rose at a slower rate across most of the world's largest economies in July as energy prices slipped, reflecting weak growth during the first half of 2014. The Organization for Economic Cooperation and Development (OECD) today said the annual rate of inflation in its 34 members dropped to 1.9% in July from 2.1% the previous month, while in the Group of 20 leading developed and developing economies it slipped to 2.8% from 2.9%. The G-20 countries account for 90% of the global economic activity.
Ford’s fans last week jeered the production start of the latest 2015 Ford Mustang as this will be the first Mustang for global sale. The new Mustang goes on sale this fall in the United States and then will hit foreign markets. For the first time, the car will have a right-hand-drive version for sale in more than 25 markets such as the United Kingdom, Australia and South Africa. The Mustang is one of 23 new models Ford is debuting this year.
McDonald's Corp. is reforming its strategy in food-safety in China after problems with a local supplier that hit the fast-food chain's image and eroded its sales in the Asian country. The US company said in a statement that it will review surveillance video from meat-production sites in China and intensify audits of suppliers. McDonald's also said it created a new position for head of national food safety in China that will report directly to the CEO.
UK construction expansion unexpectedly accelerated last month and employment in the industry rose at a near-record pace, a report by Markit and CIPS showed today. The British Construction PMI accelerated to 64 points in August (from 62.4 in July), the fastest reading in 8 months and above expectations of 61.5. Despite the higher reading the British pound fell further against the US dollar below 1.6500 as the greenback’s strength prevailed. The survey contrasts with a report yesterday showing UK manufacturing activity advanced at the slowest pace in 14 months in August.
Switzerland's economy stagnated in the second quarter, today’s data showed. Moderate growth in consumer spending failed to offset the slump in machinery exports due to weaker demand in European markets. The nation’s gross domestic product (GDP) in the quarter through June was the same as the previous quarter and rose 0.6% on a yearly basis. This was below economists' estimates of a quarterly rise of 0.6% and annual growth of 1.8%.
Brent crude fell towards $102 a barrel today on fears of slowing oil demand due to weak economic recoveries in China and Europe, although new unrest in OPEC oil producer Libya kept the decline limited. Reports showed yesterday that the Organization of Petroleum Exporting Countries (OPEC) boosted its output by 891,000 barrels a day to 31 million last month, the highest level in one year.
Apple Inc., which is expected to present new gadgets next week, and the Federal Bureau of Investigation (FBI) are investigating reports that hackers attacked the company’s iCloud service to steal photos of more than 100 celebrities of the United States and United Kingdom. The iCloud service is a key part of Apple’s strategy to unite its iPhones, tablets and desktop computers, as it allows users to store contacts, e-mails, photos and other personal data on external systems they can access virtually.
August Construction CIPS (The Chartered Institute of Purchasing and Supply) index is 64.0 points, it was expected to be 61.5 points versus 62.4 points previously.
China has given Microsoft 3 weeks to explain "compatibility issues" in Windows and Office that could violate Chinese competition legislation. Microsoft's use of verification codes also raised complaints from Chinese companies, the official Xinhua news agency said yesterday.
European stock markets gained for a third day today amid speculation that slower economic growth will prompt policy makers of the European Central Bank (ECB) to boost stimulus measures by large-scale asset purchases. US and Asian index futures also advanced, while contracts on Japan’s Nikkei 225 rose to a one-month high at 15,704 points.
The EUR/USD pair rose to 1.3136 from its daily low at 1.3114 after the number of unemployed people in Spain rose by just 8,070 in August, much below 21,800 expected.
As Ukrainian leaders warned yesterday of “a great war” with Russia, leaders of the North Atlantic Treaty Organisation (NATO) meeting in Wales this week were seen establishing a rapid response force capable of deploying quickly to Eastern Europe, officials of the alliance said. One of the goals of the new force will be to protect countries from Eastern Europe against possible Russian aggression, according to NATO’s secretary general.
Australia's central bank once again maintained its key cash rate steady at 2.50% earlier today and said its current monetary policy remains appropriate for the near future. The move was widely expected and failed to impact the Australian dollar which lost ground before the bank’s decision at now the AUD/USD pair trades near a 1-week low at 0.9293.
Gold extended a decline from a 1-week high and shed 0.5% to $1,280.21 a troy ounce in the Asian session Tuesday. The metal retreated for a 3rd day, as investors weighed the health of the global economy against escalating crisis between Russia and Ukraine. Palladium futures still hover close to a 13-year high due to international sanctions imposed on Russia, the biggest exporter of the precious metal.
• Today, at 8:30 GMT, the UK Markit/CIPS construction activity index for August will be released. The gauge is expected to fall to 61.5 points from 62.4 in the previous month. Better-than-expected values would support the British pound.
• At 14:00 GMT, the index of US manufacturing activity of the Institute for Supply Management (ISM) will be announced. The Manufacturing ISM indicator is expected to decrease to 57.0 points in August from 57.1 in the prior month. Higher-than-expected ISM reading would boost the US dollar.
Second quarter GDP (Gross Domestic Products) is 0.6% on a yearly base, it was expected to be 1.6% versus 2.0% previously.
Second quarter GDP (Gross Domestic Products) is 0.0% on a quarterly base, it was expected to be 0.5% versus 0.5% previously.