News 

Why Did Keurig Dr Pepper’s Profits Double In A Year?

“Thus, the merger with DPS is proving to be beneficial for Keurig Dr Pepper in the form of higher revenues as well as synergies driving improvement in profitability” writes Trefis Team for nasdaq.com. Keurig Dr Pepper (NYSE: KDP) saw its net income increase by over 100% from $149 million in Q3 2018 to $304 million in Q3 2019.For a detailed break-up and analysis of factors that led to the doubling of profits, view the Trefis dashboard – Why Did Keurig Dr Pepper’s Net Income Increase 100% In Q3 2019?. Such…

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The UK Labour party wants to tax Amazon, Facebook and Google to fund a $25 billion plan for free, high-speed internet for the whole country

“Labour said taxes on tech companies would be one of two funding streams for the plan” writes Kieran Corcoran for businessinsider.com. Britain’s Labour party threatened billions of dollars in new taxes on large tech companies to fund the nationalization and expansion of the country’s internet infrastructure if it wins the forthcoming general election.It named Amazon, Facebook, and Google as companies it wants to hit with new taxes to help pay for the scheme. Source: businessinsider.com

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Crypto Markets News 

BTC Miners: No More Basement Rigs, Greater Profits to Come

“Two of the biggest mining pools, Antpool and BTC.com, presently occupy a combined 29% of the entire Bitcoin mining market” writes Will Heasman for cointelegraph.com. In order to at least turn a profit from Bitcoin mining, swathes of dedicated high-powered mining machines are required.As the reward halves, so too will miner profits — that is, unless Bitcoin’s price meets some lofty expectations.If, for example, Bitcoin’s price stays relatively stable or drops before May 2020, many retail investors will be forced out.Bitmain co-founder, Jihan Wu, promised the machines would bring both…

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Markets News Stocks 

Stocks stumble to more records on conflicting trade reports

“Energy stocks jumped 1.6% for the largest gain among the 11 sectors that make up the S&P 500, and financial stocks climbed 0.7%” reports thebusinessjournal.com. Encouraging reports on the economy and corporate profits have helped drive stocks back to record heights in recent weeks.Stocks were jumping early Thursday after China said both sides in the U.S.-China trade war had agreed to roll back tariffs if their talks progress.That in turn has more on Wall Street confident that this bull market for stocks, which already is the longest on record, can…

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Activision Blizzard profits narrow amid Hong Kong protest controversy

“Roughly a month after Activision Blizzard Inc. faced a Hong Kong protest-related backlash from the gaming community, the company reported falling quarterly revenue and narrower profits” writes Max A for marketwatch.com. For the fourth quarter, analysts model adjusted earnings of $1.27 a share on bookings of $2.75 billion.The videogame company beat the consensus bookings and profit estimates.Adjusted earnings were 38 cents a share. Source: marketwatch.com

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CIB achieves net profits of EGP3.2bn in 3Q19

“The main driver behind its strong earnings growth is the EGP 5.4bn surge in the net interest income with 24% YoY growth, beside constituting 90% of core banking income” writes Doaa Elboraie for dailynewssegypt.com. On the financial position front, CIB registered an aggregate 9.3% year to date (YTD) growth and 3.6% QoQ to record EGP 374bn in 3Q19, mainly driven by 11.7% YTD growth in retail deposits to EGP 188bn.Meanwhile, gross loans were almost flat, recording 3.5% YTD and -0.2% QoQ, standing at EGP122.4bn as of 3Q19.On the other hand,…

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News 

Man Underpaid Property Taxes By $8.41. County Seized Home, Sold It — Kept Profits…

“But the first year they owned the property, they underpaid their property taxes by $144” writes Eric Boehm for reason.com. In Michigan, property taxes are due twice per year.Instead, speculators who purchase cheap property at auction allow it to deteriorate without paying property taxes, leading to further depressed home values and blight.”. An 83-year-old retired engineer in Michigan underpaid his property taxes by $8.41.Lobbyists for counties (which handle property taxes in Montana, like in Michigan) said the bill would hurt their budgets. Source: reason.com

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