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The Bureau of Labour Statistics reported Friday that the US economy added 211,000 jobs in November, while the unemployment rate held steady at a seven-year low of 5%. That means that the Fed will almost certainly raise interest rates on December 16.
We also take a look at intensifying competition on Wall Street, as banks cut back on some businesses to focus on others. On a related note, Barclays is reportedly planning to cut 20% of the jobs in its investment bank.
Here are the top Wall Street headlines at midday –
The market has a $1 trillion problem — and the Fed doesn’t understand it – A storm is coming to the credit markets.
A Wall Street CEO perfectly explained the hot theory for the economy, markets and everything – Moelis & Co. chief executive Ken Moelis was on CNBC’s Closing Bell on Thursday, and brought up one of his favourite topics: technological deflation.
SCARAMUCCI: What getting hired, fired, and rehired by Goldman Sachs taught me – Children often dream of the coolest job rather than the practical one: astronaut, artist, dolphin trainer, or the next Steve Jobs.
A startup backed by a record-breaking fundraising round wants to become your finance, career, and lifestyle hub – Mike Cagney, the chief executive of online lending startup SoFi, is nothing if not ambitious.
Here’s why Mark Zuckerberg is giving 99 per cent of his wealth to an LLC, not a foundation – Mark Zuckerberg’s announcement Tuesday that he was going to give away 99 per cent of his wealth was met with a torrent of criticism.
Here’s why Wall Street is so excited about a Yahoo acquisition – Cantor Fitzgerald analyst Youssef Squali sketched out the three most likely scenarios for Yahoo, and concluded that a sale of Yahoo’s core business would deliver the biggest payoff.
It’s all-out political war in the world’s 7th-largest economy – It’s chaos in Brazil.
TOP INTERNET ANALYST: There is one thing about Google that everyone is missing – Investors should be paying more attention to Google’s efforts in artificial intelligence, according to Carlos Kirjner of Sanford Bernstein, the No. 1 analyst covering the internet sector.
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