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Imagine AT&T joined a coalition building an alternative to Verizon‘s network. Then Verizon invested $2 billion in AT&T. After that, Verizon asked AT&T to make its devices and network infrastructure compatible with Verizon’s network, too. That sounds strange. Why invest in a company helping build an alternative to your own network? A version of that…
Myanmar’s detained former leader Aung San Suu Kyi meets Red Cross official
09:45 (ET)On eight scheduled dates each year, the Bank of Canada announces the setting for the overnight rate target in a press release explaining the factors behind the decision. Four times a year, Governing Council presents the Monetary Policy Report: the Bank’s base-case projection for inflation and growth in the Canadian economy, and its assessment…
Qualcomm (QCOM -4.04%) trades at $162.88 as of this writing, about 37% below its 52-week high of $259.92. The 36 analysts covering the chipmaker rate it, on average, a hold. Yet those same analysts carry an average price target of $221.23, about 36% above the stock. What gives? In short, shares have pulled back sharply…
Warsh wants a Fed that plays a smaller role in markets
Brown Brothers Harriman’s Elias Haddad notes the British Pound (GBP) remains heavy versus the US Dollar (USD) and Euro (EUR) after a mixed United Kingdom (UK) June Consumer Price Index (CPI) report, with headline inflation cooling but core and services measures still sticky. Markets price 75 bps of Bank of England (BoE) tightening over twelve…