The $20,000-a-year subscription service will now offer Wall Street access to important Twitter users—and all their tweets about puppies, food, twerking, and Justin Bieber.
For just $20,000 a year—though most estimates put it even higher—Wall Street bankers and traders can purchase access to the Bloomberg Terminal. At the bargain price, the 300,000+ subscribers receive access to a service that collates data services tracking market movements and trades and, now, tweets about puppies, twerking, steaks, butts, and babies. Also, some financial news.Bloomberg announced Friday that Twitter will now be incorporated into the terminal service, giving subscribers—most of whom have social media blocked on their office computers—access to 140-character insights from a curated list of “several thousand” news outlets, writers, professional traders, and also Donald Trump.
Riding the tailwinds of the “lean in” movement, Chelsea Clinton and a panel of female tech entrepreneurs urged the Women in the World audience to encourage more girls to study computer science—and take over Silicon Valley.
While the publication of Facebook COO Sheryl Sandberg’s recent tome, Lean In, has focused the national discussion on the diminished roles of women in big business, there still remains a major gender problem over in Silicon Valley.According to a study by Catalyst Census, 14.3 percent of executive officers among Fortune 500 companies are women. And yet the number of women in senior-management positions in technology companies has remained relatively unchanged over the past decade, staying at between just 3 and 5 percent, claims a separate study by the Anita Borg Institute for Women and Technology.
Yes, the jobs report sucked—a paltry drop of .1 percent in the unemployment rate and just 88,000 jobs added. But as everyone freaks out, including the stock markets, Daniel Gross finds some bright spots.
Friday morning’s jobs report was an unalloyed disappointment. The economy created a mere 88,000 payroll jobs in the month—far less than expected and far less than is needed to help claw back the jobs lost in 2008 and 2009. That sucks. The unemployment rate fell from 7.7 percent in February to 7.6 percent. But that wasn’t good news, either. The unemployment rate, calculated from the separate household survey, is calculated by dividing the number of people who say they’re out of work into the total work force.
Five years in to the Great Recession, the economy still isn't putting people back to work
Payroll employment rose by 88,000 jobs in March. The best you can say about this is at least it's not falling. The conventional wisdom is that the economy needs to add around 125,000 jobs just to keep even with population growth, so we're about a third short. Headline unemployment stood unchanged at 7.6%, but that's because nearly half a million people left the labor force in March, and therefore were not counted as unemployed.
A massive leak of offshore accounts shows just how much money billionaires try to hide in offshore accounts. Here are some of the biggest culprits. By Eliza Shapiro
Where do rich people stash their money?The British Virgin Islands, the Bahamas, the Cayman Islands, Cook Islands, Belize, and Switzerland. And we’re talking billions.The International Consortium of Investigative Journalists, a group of news outlets including The Washington Post, Le Monde, Radio Free Europe, and the BBC, unearthed a trove of 2.5 million files related to offshore accounts of individuals and countries from the United States to Azerbaijan.
Forget Bitcoin. There’s a currency that has maintained its value amid the craziness of the last several years and you can get it at your local ATM, writes Daniel Gross.
Bitcoin—the virtual, digital, hard-to-explain currency—is getting a lot of ink these days. See my colleague Winston Ross’s great piece on his fitful efforts to buy and use Bitcoins here. What’s motivating the widespread interest in Bitcoin? Well, it’s partially a sign of continued interest by early adapters in new modes of commerce. We’re in the midst of developing revolutionary new payment and banking systems—Square, depositing checks via iPhone, etc.
Japan's central banker is pushing for higher inflation. How much good will it do?
Japan has announced a bold new plan to halt deflation. The idea is to effectively double the amount of money in circulation, getting the country back to 2% inflation as soon as possible. I join most economists in thinking that deflation is bad, and it will be good if Japan can stop it. Deflation causes money hoarding--if that dollar you have now will be worth more later, it only makes sense to spend it later. Deflation also means that the economy adjusts to real shocks in the most disruptive way possible.
Over rate-rigging scandal.
Despite a recent ruling against private lawsuits brought against banks involved in alleged interest-rate rigging, 30 state attorneys general smell blood in the water. These states, led by New York and Connecticut, are investigating whether the banks violated antitrust laws to move rates. If so, they could be on the hook for billions of dollars in enforcement penalties.
Rolls out aggressive new stimulus efforts.
At least one central bank is capable of pleasant surprises. On Thursday the Bank of Japan astonished markets by announcing a dramatic change in policy involving quantitative easing to meet a 2 percent inflation target. The bank will double its holdings of government bonds through open-ended asset purchases and buy over $75 billion of long-term government bonds per month.
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After a University of Massachusetts student found significant errors in a study beloved by budget cutters world over by Harvard economists Kenneth Rogoff and Carmen Reinhart, Stephen Colbert does what he does best -- leaves them in the dust.
Paying a living wage comes at a cost, but it can help the bottom line, says Charney, who... More
Years of abuses at Ranbaxy raise worries about the FDA's oversight of the generics market