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It's conventional stock market wisdom that when investors run out of fresh cash to deploy, the end of a rally is near. Luckily, we're nowhere near that extreme scenario. As Goldman Sachs pointed out in a recent research note, the current cash position of 3.2% for mutual funds is "normal," showing that "skepticism abounds." In other words, the stock market lacks the type of overexuberant sentiment that can leave it vulnerable. Legendary investor Laszlo Birinyi — who has nailed the eight-year bull market at every turn — wholeheartedly agrees. In his view, the high level of... [Read More]
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"Just imagine how far you can go with a little bit of English," the billboard read. [Read More]
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There are so many extra ballot papers being sent out some people are selling them off. [Read More]
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British Prime Minister Theresa May and French President Emmanuel Macron will be among those putting on the pressure at the UN on Wednesday. [Read More]
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Young people are spending three times more on housing than their grandparents, according to a report from the Resolution Foundation. The policy group found that millennials - those born between 1981 and 2000 - are being forced to live in smaller spaces, commute for longer, and wait on average until their 40s to buy a house. The report found that millenials now spend an eye-watering quarter of their income on housing costs, a figure which has been driven up by a chronic lack of house-building, spiralling rents, and rocketing house prices. "Britain's housing catastrophe has been... [Read More]
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Deutsche Bank's annual Long-Term Asset Return Study focuses in 2017 on the potential cause of the next global financial crisis. Candidates include a Chinese slowdown, Brexit, and an excessively fast unwinding of the ultra loose central bank policy that has characterised the post-crisis years. Italy, however, also poses a threat, according to strategist Jim Reid and his team. The country faces a populist rising, a huge debt burden, a weak banking system, and a generally weak economy. LONDON — In the months after Britain voted to leave the European Union last summer, some were concerned that a... [Read More]
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A magnitude 7.1 earthquake obliterated parts of Mexico on Tuesday afternoon, killing more than 200 people. More than 40 buildings collapsed, including a school. Gas mains burst and fires spread after the tremor struck in the state of Puebla, not far from the capital Mexico City. Many victims are trapped underneath rubble from collapsed buildings, as rescuers race to pull them free, often in the dark because power supplies had been cut. Click here for Business Insider's live report on the rescue efforts and the death toll. Images of the devastation and rescue efforts are... [Read More]
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the latest in a lengthy line of scandals and legal headaches for the beleaguered transportation firm. According to Bloomberg, Uber has been investigating "suspicious activity" in China, India, Indonesia, Malaysia, and South Korea with the aid of law firm O'Melveny & Myers. The DOJ is looking into potential violations of the Foreign Corrupt Practices Act, which forbids US companies from paying bribes to foreign officials. Uber staff allegedly made payments to police officers in Asia to keep operating following a dispute over the location of its office... [Read More]
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A powerful earthquake struck Mexico on Tuesday afternoon, causing dozens of buildings to collapse and killing hundreds. One of the buildings that buckled at the magnitude 7.1 earthquake was a wing of the Enrique Rebsamen, a primary and secondary school in Mexico City's southern Coapa district. As of Wednesday morning, at least 22 children and two adults have been confirmed dead, Reuters reported. Three survivors were found.  42 people — 30 children and 12 adults — remain missing. Take a look at the photos below to learn more about the search effort.The Enrique Rebsamen school is... [Read More]
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The Queen's childhood toys and clothes are up for grabs — and they include some creepy early-edition Mickey and Minnie Mouse dolls. The items are being sold in seven lots by auction house Burstow & Hewett as part of its September Antiques Sale, taking place on Wednesday, September 20. The historic collection includes Royal baby clothing, once belonging to Princess (now Queen) Elizabeth and Princess Margaret, including a delicate peach silk baby coat, alongside a picture of Princess Elizabeth wearing it. The coat, photograph, and other cotton playsuits and dresses are expected to sell for up... [Read More]
The company has hired some of the key engineers behind Google Glass. [Read More]
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British police have arrested three men in Wales over the bombing of a busy commuter train in west London last week, which injured 30 people. A 25-year-old man was arrested on Tuesday evening in Newport, Wales, while two others - a 48-year-old and 30-year-old - were taken into custody on Wednesday morning. The Metropolitan Police's Counter Terrorism Command made the arrests, Scotland Yard said, supported by Gwent Police and the Welsh Extremism and Counter Terrorism Unit. Searches at the two addresses in Newport are ongoing. "This continues to be a fast-moving investigation.... [Read More]
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Retail sales in the UK jumped during the month of August. Brits continued to spend strongly on non-essential items, looking beyond the price increases brought about by the pound's post-referendum slump, new data from the ONS shows. Sales grew by 2.4% on a year-on-year basis, the ONS said, up from just 1.4% in July, and even further ahead of the 1.1% growth that had been forecast by economists polled prior to the release. On a month-to-month basis, growth was 1%, compared to an expected 0.2%, the data showed. "Within this month's retail sales we are... [Read More]
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Tech companies seem determined to make smart glasses work. Amazon is the latest firm to try to build its own smart spectacles, secretly working on a pair of glasses which lets you summon Alexa while wearing them, according to The Financial Times. The glasses would need to be wirelessly connected to a smartphone to work, and apparently look like normal spectacles. That's a change from Google Glass, which never took off with consumers in part because they looked so unappealing. Amazon's device uses bone conduction so that wearers can hear Alexa clearly, according to the report.... [Read More]
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Prime Minister Theresa May will offer the EU a €20 billion divorce bill in her key Brexit speech. The offer will be made in an attempt to restart progress in stalled Brexit negotiations. Foreign Secretary Boris Johnson backs away from resigning from the cabinet after his intervention in the Brexit process. LONDON — Prime Minister Theresa May is reportedly preparing to offer the EU a €20 billion divorce bill in her key Brexit speech on Friday after Boris Johnson backed down from his threat to resign from the cabinet. Several European leaders, including Angela Merkel, have... [Read More]
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This is a preview of a research report from BI Intelligence, Business Insider's premium research service. To learn more about BI Intelligence, click here. Open banking is the democratization of access to data previously exclusively owned by legacy financial institutions. The open banking trend is being driven by a number of factors and will ultimately become the norm. That means retail banks need to rethink their business and operational models if they want to maintain the positions of dominance in the financial ecosystem. In this report, BI Intelligence explores the drivers behind open banking in... [Read More]
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Good morning! Here is the tech news you need to know this Wednesday. 1. Amazon is working on a pair of Alexa-enabled smart glasses, according to The Financial Times. The device looks like a pair of spectacles and uses bone conduction to allow the wearer to hear Alexa. 2. Uber is facing a federal investigation for alleged bribery in five major Asian markets: Indonesia, India, China, Malaysia, and South Korea. The firm has opened an internal probe and notified US officials about suspicious-looking payments made by Indonesian staff, according to Bloomberg. 3. There are new leaked... [Read More]
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More than $8 billion has been invested in European fintech companies since 2010, and recent years have seen funding rounds climb into the tens of millions while big corporates have grown increasingly interested in the sector. But the rapid accumulation of capital investment could pose problems in the next few years, when investors start looking to sell. According to a new report by Innovate Finance and Magister Advisors on the state of European fintech, "the pressure to look for exits will inevitably intensify over the next five years." The report found that deal sizes have been on... [Read More]
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A once-popular trend is back in fashion: modular homes. Once known as "prefabs," these apartments represent a radical departure from conventional brick-and-mortar building. Each apartment is constructed in a UK factory, shipped to site by lorry, then assembled in around twenty weeks - less than half the time it takes to build a traditional development. Modular homes are not new in the UK. They had a heyday in the 1960s but fell out of favour, with a reputation for poor build quality and ugliness. Just 2,000 a year are built in the capital now. But... [Read More]
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The number of black students applying for, receiving offers from, and attending Oxford and Cambridge universities is chronically low. Only 40 black students were accepted out of 2,210 placed UK applicants to Cambridge last year. And only 35 black students were accepted out of 2,210 placed UK applicants to Oxford. 15.4% of students at Oxford and 19.9% at Cambridge are international. Campaigners and experts put the under-representation down to a number of factors, including students' fear of not fitting in and racism. Business Insider spoke to nine current and former black Oxbridge students to get their views on life... [Read More]
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