THE SERIOUS & fUN SIDE OF BUSINESS
FEATURE: BIZ OF FASHION FRIDAY
8 MARCH, 2016 FRIDAY
Pfizer formally abandons $160bn Allergan deal
Starbucks building its biggest store ever: ‘The Willy Wonka of coffee’
THE SERIOUS SIDE
STOCK MARKET CLOSE
DJIA 17541.96 -174.09 0.98%
Nasdaq 4848.37 -72.35 1.47%
S&P 500 2041.91 -24.75 1.20%
Gold 1242.00 +18.20 1.49%
Crude Oil 37.53 -0.22 0.58%
CBOE Volatility 16.16 +2.07 14.69%
BOND MARKET CLOSE
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Stocks Sell Off as First-Quarter Earnings Come Into Focus
Wall Street gave back Wednesday’s rally and then some on Thursday as investors grew nervous about the impending first-quarter earnings season.
The S&P 500 was down 1.2%, the Dow Jones Industrial Average fell 1.0%, and the Nasdaq slid 1.5%. The S&P 500 had jumped more than 1% on Wednesday on a dovish Federal Reserve and massive surge in crude prices.
On Thursday, West Texas Intermediate crude oil closed 1.3% lower at $37.26 a barrel.
STOCKS IN THE NEWS
The energy sector was the worst performer Thursday. Major oilers Exxon Mobil (XOM – Get Report) , PetroChina (PTR – Get Report) , Royal Dutch Shell (RDS.A – Get Report) and Total (TOT – Get Report) were lower, while the Energy Select Sector SPDR ETF (XLE) fell 1.1%.
Tesla (TSLA) fell 2.9% even after announcing it had reached 325,000 in pre-orders for its latest vehicle, the Model 3. The vehicle reservations amount to $14 billion in implied future sales. Tesla unveiled the new alternative-energy automobile last week.
Yahoo! (YHOO) fell 2.5% after estimating that 2016 revenue could drop by around 15%, Re/code reported. Earnings could fall to $750 million in 2016 from $1 billion in 2015.
Valeant Pharmaceuticals (VRX) added 2.6% after securing a commitment from loan holders to change the terms of its debt. The embattled drugmaker enjoyed its best two days of trading on Tuesday and Wednesday in 20 years after Bill Ackman of Pershing Square reaffirmed his confidence in the company’s recovery.
Wall Street Journal
New York Times
International Business Times
Special Report: Mutual Funds & ETFs
It’s a simple question that has no simple answer: “What’s best for your portfolio: ETFs or mutual funds?” Over the next 13 weeks, Investopedia will teach you about the products, starting from the perspective of a beginner investor and then shifting to how they’re being used by financial advisors. Finally, we’ll take you through some of the finer points and offer tips and tools on how to make the best choice.
Coming Up Next Week:How ETFs Fit Into Your Portfolio
THE fUN SIDE
Harvard, Stanford, and 20 other colleges that are worth the money
The top schools for college return on investment (not taking into account financial aid) this year are the California Institute of Technology, the Massachusetts Institute of Technology, and Harvey Mudd College.
BETTING ON WEATHER
How This CEO Made a Billion-Dollar Business Betting on The Weather
In just seven years, CEO David Friedman has created a billion business all of which started by watching the rain.
As it turned out, based on their investigations, around 70 percent of business have finances that are impacted by the weather, that’s almost $4 trillion of the US GDP.
In 2006 WeatherBill rebranded itself as the Climate Corporation with the mission “To help all the world’s people and businesses manage and adapt to climate change”. In 2013 Climate Corporation was bought by Monsanto for $930m.
THINK MORE, WORK LESS
Why Successful People Spend 10 Hours A Week Just Thinking
Warren Buffett, the CEO of the fourth largest company in the country, isn’t as busy as you are. By his own estimate, he has spent 80% of his career reading and thinking.
AOL CEO Tim Armstrong, for instance, makes his executives spend 10% of their day, or four hours per week, just thinking. Jeff Weiner, CEO of LinkedIn, schedules 2 hours of uninterrupted thinking time per day. Jack Dorsey is a serial wanderer. Bill Gates is famous for taking a week off twice a year just to reflect deeply without interruption.
PARKING JUST GOT EASIER
Luxe, a startup that valet parks your car when you can’t find a spot, just raised $50 million from Hertz
Luxe works as a valet on-demand. In a way similar to Uber, you tap on an app when you need your car parked, and it tracks you as you arrive at your destination, whether it’s at a restaurant for dinner or at your office for the day.
WHEN IDEAS COME FROM BOOKS
London fashion designer Erdem Moralioglu on his love of books
When we meet Erdem Moralioglu in London, two weeks before his Autumn-Winter 2016 runway show, he’s in good spirits. Thumbing through books on theater design, haute couture, and Picasso in the Victoria & Albert Museum’s National Art Library in London, he seems at ease.
FEATURE: BIZ OF FASHION FRIDAY
Why should you feel the need to put on a uniform 5 days out of 7, unless of course you have to as part of your job, or you really actually don’t care about fashion and style. But then again, you’re reading a fashion blog, so I’m presuming this isn’t you right?
What I now look for in my workwear are classics with unique detailing. A shirt like the one from Dondup for example, a classic pinstripe but then with a subtle split back as well as a unique button fixture on the front that means you can wear it in multiple ways. Or this effortless black top from KITX that is both playing on the bare shoulder trend while still keeping it office friendly.
32 outfit ideas to make you excited about going back to the office
The 30 best sunglasses under £200
HAVE A GREAT WEEKEND!
Back on Monday with more biz.
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