The U.S. will likely emerge the winner in a "cold currency war" that is heating up, an expert said.Currenciesread more
These box office numbers do not include the cost of production or marketing costs. They also don't count the billions in merchandising that Disney has made over the last...Entertainmentread more
Tariffs are the only instrument left for addressing China's systematic and excessive surpluses on its U.S. trades, writes Michael Ivanovitch.US Economyread more
In its latest attempt to build market credibility, China on Monday launched the Science and Technology Innovation Board, or "STAR Market," on which 25 companies were listed.China Economyread more
When Cathy Hsu and Tony Hsieh wanted to build an English language app for Chinese children, they decided to follow Facebook and Google's lead.Start-upsread more
Stocks in Asia traded lower on Monday afternoon, as a Nasdaq-style technology board on the Shanghai Stock Exchange marked its debut.Asia Marketsread more
Instagram began tests that hide "like" counts on posts. That means influencers who market products on Instagram will have to rely on different metrics to show success.Technologyread more
Peter Neupert worked for Microsoft and Amazon-backed Drugstore.com, where he got to know Jeff Bezos. He now advises start-ups.Technologyread more
The firing of the tear gas was the latest confrontation between police and protesters who have taken to the streets for over a month to fight a proposed extradition bill and...China Politicsread more
Last week shows that oil prices are not the indicator for Middle East tensions they once were, and worries about global demand and growing U.S. production has changed that...Market Insiderread more
Facebook Vice President David Marcus is the face of the company's Libra digital currency, but the original driving force was a 26-year-old female corporate-development...Technologyread more
Pay on Wall Street is falling as fast as big banks' profits and revenues for the first quarter.
Goldman Sachs cut pay 40 percent year over year, the bank revealed on its first-quarter earnings call Tuesday. Compensation went from $4.45 billion in the first quarter of 2015 to $2.66 billion in the first quarter of this year. The upside is that staff was only reduced by 1 percent over the same time frame.
The bank suffered a 23 percent drop in investment banking revenue in the first quarter. Fixed income trading revenue fell 47 percent to $1.66 billion and equities trading declined 23 percent as well, generating $1.78 billion. It translates into Goldman's lowest revenue tally since late 2011.
"This is a performance-driven culture and our performance wasn't great" in the first quarter, Goldman CFO Harvey Schwartz said to an analyst. He added later, "I certainly won't sit here and tell you we're happy about this quarter."