09182020Fri
Last updateMon, 04 Nov 2019 2pm

Business


Not too Big to Fail...Spectacularly — GE shares fall on report that its finances are worse than disclosed

(Reuters) - General Electric Co (GE.N) shares fell as much as 15% on Thursday after fraud investigator Harry Markopolos, who blew the whistle on Bernard Madoff’s Ponzi scheme, said GE was concealing deep financial problems, prompting a sharp rebuke from GE’s new CEO.

Amazon Plant In China Accused Of Forcing High School Interns To Work 60 Hour Weeks

(Zero Hedge) — In addition to not paying taxes and putting the entire brick and mortar retail industry out of business single-handedly, Amazon has now opened itself up to even more criticism. 

Amazon Exposed For Illegally Squeezing Merchants As War With Walmart Heats Up

(ZeroHedge) — Years ago, US regulators quietly put a stop to Amazon's practice of forcing third-party sellers to offer their best prices on Amazon's platform, arguing that this practice was a blatant violation of anti-trust laws.

Presages -- US home sales fall 1.7% with prices high and supply low

WASHINGTON (AP) — U.S. home sales tumbled 1.7% in June, with rising prices and a scarce supply locking out many Americans from ownership.

Bank of America: "Enjoy It While It Lasts"

From Zero Hedge: 

Last August, several of Bank of America's more skeptical analysts including Michael Hartnett and chief economist Ethan Harris wrote a piece on the law of large numbers, arguing that an ever-expanding list of uncertainties would likely undercut the markets going into year-end.

Netflix Stock Implodes, Subscriber Exodus Ignites 12% Plunge

From CCN Markets: 

A confluence of negative factors slammed Netflix in the past quarter, resulting in subscriber numbers and other metrics exposing Netflix’s vulnerabilities – and leaving the streaming giant’s stock plunging in after-hours trading.


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