Category: News

Since the US market bottom in March 2009, Europe has underperformed the US by a whopping 76%, according to data compiled by Goldman Sachs.
The firm lays out four scenarios that could flip the script and lead to European outperformance versus its US counterparts.
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The US benchmark S&P 500 is only beating its European counterpart — the Stoxx 600 — by two percentage points so far in 2019.

That may seem like strong outperformance upon first glance. But compared to how the last decade has unfolded, it’s a downright miracle the Stoxx 600 has hung in there so admirably.

Let’s zoom out a little bit more: Since the US market bottom in March 2009, Europe has underperformed the US by a whopping 76%, according to data compiled by Goldman Sachs. No matter how you slice it, it’s been an uncanny period of dominance for American equities.

Goldman says this divergence in fate boils down to one key element: corporate profits. Earnings-per-share for the S&P 500 is currently 86%, compared to just 3% for the Stoxx 600.

“EPS differential explains 100% of this underperformance,” Lilia Peytavin, a portfolio strategist at Goldman, wrote in a recent client note.

Read more: A private-equity titan who’s doubled the money in each of his 7 funds shares the biggest investing lessons he’s gathered from 30 years of industry dominance

That’s all well and good, but understanding the root cause of Europe’s underperformance won’t fix it. So what will? Maybe a further escalation of the US-China trade war? The thinking there is that Europe can skate by as two other global powers duke it out, then pick up stray investors who flee either region.

Not so fast, says Goldman.

“Realistically, in …read more

Source:: Business Insider

      

Theresa May has hemorrhaged support since revealing her “new deal” on Brexit on Tuesday.
The offer, which includes the possibility of enabling a second referendum on Brexit has triggered dozens of Conservative members of parliament to abandon the prime minister.
Conservative MPs are piling the pressure on May to quit rather than hold a fourth vote on her deal.
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LONDON — Theresa May is under growing pressure to quit after the “new deal” she offered parliament on Brexit caused a hemorrhage of support among Conservative members of parliament.

Dozens of previously loyal Tory MPs abandoned the prime minister on Tuesday evening following her offer to enable a vote on a second referendum, if the House of Commons backs her deal.

More than 60 Conservative MPs are openly planning to rebel against the prime minister if the vote takes place at the start of next month, with all opposition parties also committed to rejecting it.

“I supported the PM’s rotten deal last time as I felt we could then draw a line and select a new PM to pick up the pieces,” Conservative MP Zac Goldsmith tweeted.

“But I cannot support this convoluted mess. That it takes us towards a rigged referendum between her deal and no Brexit is just grotesque. The PM must go.”

Boris Johnson, who also backed May’s deal at its third vote and is widely tipped to succeed May as prime minister, said he could no longer support her deal.

“With great reluctance I backed MV3,” Johnson tweeted.

“Now we are being asked to vote for a customs union and a second referendum. The Bill is directly against our manifesto – and I will not vote for it. We can and must do better – and deliver what the people voted for.”

The exodus of support has …read more

Source:: Business Insider

      

Good morning! This is the tech news you need to know this Wednesday.

Google has offered Huawei a brief reprieve by putting its Android suspension on hold. A Google spokesman told Business Insider that the grace period will allow Google to “provide software updates and security patches to existing models for the next 90 days.”
Facebook’s former security chief Alex Stamos said Mark Zuckerberg has too much power and needs to step down as CEO. Microsoft President Brad Smith would make a good candidate to replace Zuckerberg, Stamos said.
Amazon shareholders will stage an unprecedented vote on Wednesday on whether to stop the company from selling its facial-recognition technology to government agencies. The votes are not binding and may fail to secure a majority of support among shareholders, but investors hope they will send a message to Amazon CEO Jeff Bezos.
Microsoft has remained silent about Huawei’s ban in the US, but it removed Huawei laptops from its stores. Huawei’s MateBook laptops were removed from Microsoft’s online store last weekend.
Apple quietly released new MacBook Pro laptops that should fix some of the keyboard issues that were driving people crazy. The company is also expanding its Keyboard Service Program to cover all devices with the butterfly mechanism keyboard at no additional cost.
Google kept unencrypted, plaintext copies of some G Suite business customer passwords on its servers for more than ten years. The implementation error causing the issue happened in 2005 and according to TechCrunch, wasn’t discovered until April of this year.
A top “Fortnite” player who won more than $500,000 is suing his team over an “oppressive” contract. Professional gamer Turner “Tfue” Tenney is one of the most popular players in the world, with more than 10 million subscribers on YouTube, and another six million followers on Twitch.
Huawei …read more

Source:: Business Insider

      

This is a preview of a research report from Business Insider Intelligence, Business Insider’s premium research service. To learn more about Business Insider Intelligence, click here. Current subscribers can read the report here.

Trucking is set to transform radically in the coming years, with innovative technologies enabling trucks to take over more and more driving responsibilities, saving time and money for operators and businesses that rely on shipping.

Autonomous trucks are being tested on roads around the world, and systems from startups like Peloton and Embark could make their way into commercial trucks as soon as next year. Fleets will be able to leverage autonomous technologies to cut costs and gain a critical edge over competitors.

But to start planning for, and to eventually implement, those technologies, companies need to know what sorts of systems will be ready and when, and what regulatory hurdles will need to be overcome to get autonomous trucks on the road.

In The Autonomous Trucking Report, Business Insider Intelligence provides an early glimpse into the emerging autonomous trucking market. First, we look at the trucking market as it stands today, offering a basic profile of the industry and highlighting a number of the challenges and issues it faces. Then, we go through the three waves of autonomous technology that are set to upend the industry — platooning, semi-autonomous systems, and fully autonomous trucks — looking at who is making strides in each of these areas, when the technology can be expected to start making an impact, and what companies can do to get ahead of the curve.

Here are some of the key takeaways:

Advanced and autonomous technology will enable operators and shipping firms to eradicate some of the challenges that have long plagued them. Trucks will take over more and more driving responsibilities, saving time …read more

Source:: Business Insider