Short-seller Jim Chanos said it is time for typical equity investors to be "a little more cautious" even as the stock market may continue to rise. Chanos said his fund Kynikos Associates is "very bearish on coal" and he is "pretty much short" all the U.S. leveraged coal companies.
U.S. monetary policy will probably remain very easy for a long while after either the Federal Reserve's interest rate hike threshold on unemployment, or inflation, has been crossed, Fed Vice Chair Janet Yellen said in a letter to a U.S. lawmaker. Yellen, responding to a written question for the record from Massachusetts Senator Elizabeth Warren following her hearing last week before the Senate Banking Committee to become the next Fed chair, also said the jobless threshold was not a trigger.
Retail software startup Index, which aims to give retailers a better idea of who’s shopping in their stores and shoppers a more personalized experience, has raised a $7 million Series A investment round from Eric Schmidt’s Innovation Endeavors and Khosla Ventures. The San Francisco-based startup was founded by former Google Wallet execs Jonathan Wall and Marc Freed-Finnegan.
Nokia shareholders were set to approve the sale of the company's mobile phone business to Microsoft on Tuesday, deciding the deal's financial benefits outweighed objections by a minority of investors upset by the sale of a Finnish national asset. More than 99 percent of shareholders registered in advance of the meeting in Helsinki, accounting for 45 percent of the total shares, approved the sale. The deal is expected to close in the first quarter of next year after regulatory approval.