banking

Bank of America Downgrades EA and Activision Blizzard Due to “Fortnite” Growth

Bank of America Downgrades EA and Activision Blizzard Due to “Fortnite” Growth

Bank of America Merrill Lynch lowered its rating for both Electronic Arts (NASDAQ: EA) and Activision Blizzard (NASDAQ: ATVI) shares to neutral from buy due to the crowded holiday season and competition from Epic Games’ “Fortnite.”..

SoftBank Vision Fund to Invest $1B into Face Recognition SenseTime

SoftBank Vision Fund to Invest $1B into Face Recognition SenseTime

SoftBank’s Vision Fund is looking to invest almost USD 1 Billion in China-based SenseTime Group for a stake in the world’s most valuable artificial intelligence startup, according to people familiar with the matter. The two companies are..

Goldman Sachs Reports Better-than-expected Q2 Earnings

Goldman Sachs Reports Better-than-expected Q2 Earnings

Goldman Sachs Group Inc. (NYSE: GS) on Tuesday reported better-than-expected revenue and earnings as the Company also named a new CEO.  The Company said net revenue rose 19% to USD 9.4 Billion in the second quarter ended June 30, 2018, beating ..

Credit Suisse Charged With Corruption, Fined USD 77 Million

Credit Suisse Charged With Corruption, Fined USD 77 Million

Credit Suisse (NYSE: CS) has agreed to pay the Justice Department and the Securities and Exchange Commission (SEC) USD 77 Million in order to settle charges of hiring relatives of influential Chinese officials in order to acquire business in the cou..

Cryptocurrency Market Bearish Sentiment Continuous

Cryptocurrency Market Bearish Sentiment Continuous

Bitcoin has lost value continuously for four sessions, sliding down as much as 20 percent, while questions rise about whether the largest cryptocurrency was manipulated during its immense price surge last year. It traded at a few cents initially in ..

Citigroup Warns of Possible Major Job Cuts Due to Automation

Citigroup Warns of Possible Major Job Cuts Due to Automation

Citigroup Inc (NYSE: C), has put forward the notion that it will attempt to shed up to 50% of its technology and operations staff within the next five years. This amounts to approximately 10,000 of its 20,000 staff in the field.Jamie Forese, preside..