Wall Street, Europe focuses on Greek debt as IMF leaves talks... CEOs step down: Murdoch and Costolo to exit... IRS moves to clamp down on tax fraud... Uber plans $1 billion investment in China...
Wall Street, Europe focuses on Greek debt as IMF leaves talks
The International Monetary Fund has left talks with Greece over its colossal debt. The IMF cited “major differences” with the country on how it will reform in return for funds to avoid bankruptcy. The issue is weighing on investors on Wall Street and combining with domestic concerns about the economy to subdue sentiment. Asian markets have generally closed the week on a high having also digested the latest Greek tragedy; Shanghai managed a new 7-year high. European markets are mixed so far.
US stock futures are trending slightly lower. Oil is trending lower (Brent $64.53, WTI $60.04 at 6.10am ET) Gold is trending lower.
Today’s data
PPI-FD at 8.30am ET
Consumer sentiment at 10am ET
Cloud Security, Optical Cable and Sense Tech are among the companies reporting results today.
CEOs step down: Murdoch and Costolo to exit
The departure of the CEOs of two New York listed firms was the talk of Wall Street as Thursday’s session ended. Rupert Murdoch is to step down as chief at 21st Century Fox and hand over the reins to son James, with COO Chase Carey taking an advisory role. Murdoch senior together with elder son Lachlan will be executive chair and co-chair respectively.
Meanwhile over at Twitter is was announced that CEO Dick Costolo has resigned from the job to be replaced in the short-term by Jack Dorsey. It’s reported that Costolo was not pushed out of the role and had discussed an exit with the board last year. Twitter shares rose 3.6 per cent on the news.
IRS moves to clamp down on tax fraud
The IRS is making some changes which it believes will make tax fraud and identity theft harder. The agency will share information with state tax administrations and private firms in the sector to take a coordinated approach to identity theft. CNN reports that software used for tax purpose will share data with the IRS so that it can be established if a ‘trusted’ computer has been used for the filing. The new framework will be in place in time for 2016 filings.
Uber plans $1 billion investment in China
There’s no stopping Uber’s ambition. The ride-share service has announced plans Friday that will see $1 billion of investment from the company in China. The Financial Times reports that boss Travis Kalanick has told investors that China is the top priority for the firm which is already booking 1 million journeys a day in the country.
The International Monetary Fund has left talks with Greece over its colossal debt. The IMF cited “major differences” with the country on how it will reform in return for funds to avoid bankruptcy. The issue is weighing on investors on Wall Street and combining with domestic concerns about the economy to subdue sentiment. Asian markets have generally closed the week on a high having also digested the latest Greek tragedy; Shanghai managed a new 7-year high. European markets are mixed so far.
US stock futures are trending slightly lower. Oil is trending lower (Brent $64.53, WTI $60.04 at 6.10am ET) Gold is trending lower.
Today’s data
PPI-FD at 8.30am ET
Consumer sentiment at 10am ET
Cloud Security, Optical Cable and Sense Tech are among the companies reporting results today.
CEOs step down: Murdoch and Costolo to exit
The departure of the CEOs of two New York listed firms was the talk of Wall Street as Thursday’s session ended. Rupert Murdoch is to step down as chief at 21st Century Fox and hand over the reins to son James, with COO Chase Carey taking an advisory role. Murdoch senior together with elder son Lachlan will be executive chair and co-chair respectively.
Meanwhile over at Twitter is was announced that CEO Dick Costolo has resigned from the job to be replaced in the short-term by Jack Dorsey. It’s reported that Costolo was not pushed out of the role and had discussed an exit with the board last year. Twitter shares rose 3.6 per cent on the news.
IRS moves to clamp down on tax fraud
The IRS is making some changes which it believes will make tax fraud and identity theft harder. The agency will share information with state tax administrations and private firms in the sector to take a coordinated approach to identity theft. CNN reports that software used for tax purpose will share data with the IRS so that it can be established if a ‘trusted’ computer has been used for the filing. The new framework will be in place in time for 2016 filings.
Uber plans $1 billion investment in China
There’s no stopping Uber’s ambition. The ride-share service has announced plans Friday that will see $1 billion of investment from the company in China. The Financial Times reports that boss Travis Kalanick has told investors that China is the top priority for the firm which is already booking 1 million journeys a day in the country.
