US stocks see 3rd-biggest outflow in history as investors flee tech


  • Extreme times call for extreme moves, Bank of America said on Friday as it detailed investment fund flows in and out of key market sectors.
  • US stocks suffered their third-largest ever outflow of funds, with investors pulling $25.8 billion out of equities in the past week, BofA said.
  • Technology stocks, which have led the market lower since the stock market hit record highs on September 2, suffered their biggest fund flow redemption since June of 2019, according to BofA.
  • The September stock market correction is part of a “topping process,” but don’t expect a big bearish move when the Fed continues to implement easy monetary policies, BofA said.
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Investors, skittish about rising COVID-19 cases and a lack of additional fiscal stimulus from Congress, pulled funds out of US stocks at the third-fastest pace ever over the past week, according to

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The long, complicated history of “people analytics”

Or perhaps you work for one of the health-care, retail, or financial-­services companies that use software developed by Receptiviti. The Toronto-based company’s mission is to “help machines understand people” by scanning emails and Slack messages for linguistic hints of unhappiness. “We worry about the perception of Big Brother,” Receptiviti’s CEO recently told the Wall Street Journal. He prefers calling employee surveillance “corporate mindfulness.” (Orwell would have had something to say about that euphemism, too.)

Such efforts at what its creators call “people analytics” are usually justified on the grounds of improving efficiency or the customer experience. In recent months, some governments and public health experts have advocated tracking and tracing applications as a means of stopping the spread of covid-19.

But in embracing these technologies, businesses and governments often avoid answering crucial questions: Who should know what about you? Is what they know accurate? What should they be able to

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COVID-19 forces one of the biggest surges in technology investment in history, finds Harvey Nash/KPMG survey


COVID-19 forces one of the biggest surges in technology investment in history, finds Harvey Nash/KPMG survey




HONG KONG, Sept. 25, 2020 /PRNewswire/ — Companies spent the equivalent of around US$15bn[1] extra a week on technology to enable safe and secure home working during COVID-19, reveals the global 2020 Harvey Nash/KPMG CIO Survey. This was one of the biggest surges in technology investment in history – with the world’s IT leaders spending more than their annual budget rise[2] in just three months, as the global crisis hit, and lockdowns began to be enforced.


The largest technology leadership survey in the world of over 4,200 IT leaders, including over 100 leaders from mainland China and Hong Kong, analysed responses from organizations with a combined technology spend of over US$250bn. Surveyed CIOs in mainland China and Hong Kong

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