Markets & Economy
Wall Street lifted by consumer data; banks, energy lead
Tue, 28 Mar 2017 21:08:12 +0100
NEW YORK (Reuters) - U.S. stocks posted sharp gains on Tuesday, with financial and energy shares surging, as data showed U.S. consumer confidence at a more than 16-year high.
GM rebuffs two-class share plan from Einhorn's Greenlight Capital
Tue, 28 Mar 2017 21:00:51 +0100
(Reuters) - General Motors Co on Tuesday rejected a proposal by billionaire investor David Einhorn to split its common stock into two classes to help boost its share price.
Uber diversity report shows shortage of women, minorities
Tue, 28 Mar 2017 20:57:29 +0100
(Reuters) - Uber Technologies Inc released its first diversity report on Tuesday, showing that women and non-white employees are underrepresented at the ride-services company - just as they are at many other technology firms.
Trump applauds Ford's previous planned investment in Michigan plants
Tue, 28 Mar 2017 20:47:56 +0100
DETROIT/WASHINGTON (Reuters) - Ford Motor Co on Tuesday said it would invest $1.2 billion in three Michigan facilities and create 130 jobs in projects largely in line with a previous agreement with the United Auto Workers union, hours after U.S. President Donald Trump touted a "major investment" by the automaker on Twitter.
Volkswagen supervisory board backs Stadler, top managers
Tue, 28 Mar 2017 20:25:16 +0100
BERLIN (Reuters) - Volkswagen's supervisory board gave its backing on Tuesday to Audi's chief executive and other senior managers, after raids by German prosecutors related to the emissions scandal.
ZTE removed from U.S. trade blacklist
Tue, 28 Mar 2017 20:15:20 +0100
WASHINGTON (Reuters) - The U.S. Commerce Department will remove Chinese telecom equipment maker ZTE Corp from a trade blacklist after the company admitted to violating sanctions on Iran, the Commerce Department said in a notice made public on Tuesday,
SEC denies a second application to list bitcoin product
Tue, 28 Mar 2017 20:07:02 +0100
NEW YORK (Reuters) - The U.S. Securities and Exchange Commission on Tuesday denied for the second time this month a request to bring to market a first-of-its-kind product tracking bitcoin, the...
Citadel rehires Yeh as head of its quant unit
Tue, 28 Mar 2017 19:45:32 +0100
BOSTON (Reuters) - Hedge fund Citadel said it is making changes at the top of its global quantitative division by bringing back James Yeh to replace the current head who is retiring.
Morgan Stanley rates Banco BTG Pactual stock 'overweight'
Tue, 28 Mar 2017 19:22:52 +0100
SAO PAULO (Reuters) - Grupo BTG Pactual SA's stock is undervalued based on its ability to outperform peer banks in Latin America, where investment-banking and asset management activities remain...
Tesla deal boosts Chinese presence in U.S. auto tech
Tue, 28 Mar 2017 19:18:30 +0100
DETROIT (Reuters) - China's Tencent Holdings Ltd has bought a 5 percent stake in U.S. electric car maker Tesla Inc for $1.78 billion, the latest investment by a Chinese internet company in the potentially lucrative market for self-driving vehicles and related services.
Cuba’s communists dig in as Castro’s reform drive grinds to a halt
Tue, 28 Mar 2017 18:31:00 +0100
Islanders baffled as ‘economic tsar’ Marino Murillo not heard in public for a year, Financial Times reports.
Consumer confidence hits 16-year high in boost to economy
Tue, 28 Mar 2017 18:26:38 +0100
WASHINGTON (Reuters) - U.S. consumer confidence surged to a more than 16-year high in March amid growing labor market optimism while the goods trade deficit narrowed sharply in February, indicating the economy was regaining momentum after faltering at the start of the year.
U.S. House committee approves bill to increase scrutiny of Fed
Tue, 28 Mar 2017 18:21:57 +0100
WASHINGTON (Reuters) - A Republican-controlled committee of lawmakers approved a bill on Tuesday to allow a congressional audit of Federal Reserve monetary policy, a proposal Fed policymakers have opposed and which faces an uncertain path to final approval.
Trump appoints one of his lawyers to review mergers
Tue, 28 Mar 2017 18:21:00 +0100
Companies across industries have been hoping the GOP administration would be more permissive with mergers, NYT reports.
Trump to offer federal coal to industry awash in reserves
Tue, 28 Mar 2017 18:05:25 +0100
WASHINGTON (Reuters) - U.S. President Donald Trump's administration has billed his move to re-open federal lands to new coal leases as a win for miners seeking to expand production. But a review of company filings shows that coal miners with the most to gain already have enough leases in hand to last well over a decade.
Fire erupts on Chelsea Market roof
Tue, 28 Mar 2017 17:48:00 +0100
Firefighters responded to a fire in a rooftop generator in New York's Chelsea neighborhood as social media reports showed smoke on the roof of Chelsea Market
Greenlight Capital's Einhorn explains why two GM stock classes would better serve investors
Tue, 28 Mar 2017 17:41:00 +0100
The two stock classes would give investors more choices, Greenlight Capital's David Einhorn tells CNBC.
US nuclear developer Westinghouse Electric to file Tuesday for bankruptcy: Sources
Tue, 28 Mar 2017 17:08:00 +0100
U.S. nuclear developer Westinghouse Electric plans to seek bankruptcy protection as it struggles with cost overruns.
AI to become main way banks interact with customers within three years: Accenture
Tue, 28 Mar 2017 17:00:00 +0100
Four in five bankers believe AI will "revolutionise" the way in which banks gather information as well as how they interact with their clients.
Einhorn's Greenlight Capital urges GM to create two share classes
Tue, 28 Mar 2017 16:32:00 +0100
The move is designed to help the automaker improve its financial flexibility and boost the stock's value. The news raised GM's stock by 2.4 percent.
Lyft Lets You Round Up For Charity
Tue, 28 Mar 2017 16:29:48 +0100
Lyft is all set to link charity with its rides. As per the plan, passengers can opt to round up their fare and can donate the difference for charity activity.
State Bills Girl $3000 For Guardrail That Killed Her
Tue, 28 Mar 2017 16:12:39 +0100
Nearly four months after his teenage daughter was killed in a car crash, a Loudoun County man was shocked to get a letter from the Tennessee Department of Transportation that billed his dead daughter nearly $3,000 to replace the guardrail that killed her.
Your Money - Being 26: A money checkup for biggest U.S. age group
Tue, 28 Mar 2017 16:06:56 +0100
NEW YORK (Reuters) - Callan Olive is about as adult as you can get for a 26-year-old.
U.S. Consumer Confidence Unexpectedly Jumps To 16-Year High In March
Tue, 28 Mar 2017 15:53:22 +0100
Consumer confidence in the U.S. unexpectedly improved in the month of March, according to a report released by the Conference Board on Tuesday.
Stocks Showing A Lack Of Direction In Morning Trading - U.S. Commentary
Tue, 28 Mar 2017 15:50:22 +0100
Following the lackluster performance in the previous session, stocks continue to show a lack of direction during trading on Tuesday. The major averages have spent the morning bouncing back and forth across the unchanged line.
The next iPhone is the last hurrah for smartphones: Fund manager
Tue, 28 Mar 2017 15:48:00 +0100
The next iPhone could signal the end for smartphones, as the market reaches a saturation point, according to an expert.
Report: Yamaha Will Soon Recall Certain Motorcycles
Tue, 28 Mar 2017 15:17:31 +0100
Yamaha Motor Co. is planning to recall multiple three-cylinder motorcycle models due to a safety issue with the lower handlebar, Asphalt & Rubber has reported. According to the report, the stud bolt threads might not have enough thread-locking agent applied to them due to the lower handlebar being improperly painted.
Red Hat nears highs not seen since 2015
Tue, 28 Mar 2017 15:14:00 +0100
Red Hat reported earnings after the bell on Monday.
Google Home A.I. speaker is coming to the UK to challenge Amazon Echo
Tue, 28 Mar 2017 14:47:00 +0100
Google is releasing an artificial-intelligence powered device in the U.K. on April 6 to compete with the Amazon Echo.
Green Group To Challenge Trump Order Repealing Climate Change Policies
Tue, 28 Mar 2017 14:37:57 +0100
A prominent environment group has said it will challenge an executive order to be signed by the US President repealing key parts of his predecessor's policies aimed at curbing global warming.
First-quarter GDP estimates could rise as February trade deficit narrows sharply
Tue, 28 Mar 2017 14:26:00 +0100
The U.S. goods trade deficit narrowed sharply in February, which could prompt economists to raise their estimates for first-quarter gross domestic product.
1 million pounds of chicken nuggets, chicken fingers recalled over 'metal objects'
Tue, 28 Mar 2017 14:08:00 +0100
The recall affects 933,272 pounds of breaded chicken, which were produced on dates from Dec. 19, 2016, through March 7, 2017, according to USA Today
Choppy Trading Likely To Persist On Wall Street
Tue, 28 Mar 2017 14:00:33 +0100
The major U.S. index futures are pointing to a modestly lower opening on Tuesday following the mixed performance seen in the previous session. Traders may remain reluctant to make any significant moves amid a continued focus on developments in Washington.
Monthly US home-price gains reach 31-month high
Tue, 28 Mar 2017 14:00:00 +0100
The index found that home prices rose 5.9 percent year over year in January.
Stocks May Show A Lack Of Direction In Early Trading - U.S. Commentary
Tue, 28 Mar 2017 13:58:24 +0100
After ending the previous session mixed, stocks may continue to show a lack of direction in early trading on Tuesday. The major index futures are currently pointing to a modestly lower opening, with the Dow futures down by 28 points.
Uber Says Goodbye To Denmark
Tue, 28 Mar 2017 13:56:36 +0100
Uber is closing its ride-hailing services in Denmark next month, citing upcoming changes in regulations that would make its app unworkable for consumers. The San Francisco-based company said in a blog post that it will close its services on April 18, 2017, as the new laws currently being proposed in Denmark will not allow drivers to use their privately owned cars for ride sharing.
Breitbart Denied Capitol Hill Credentials
Tue, 28 Mar 2017 13:53:42 +0100
Breitbart News' request for permanent congressional press passes was denied on Monday, citing concerns about the website's links to the White House and the Republican mega-donor family the Mercers. The U.S. Senate Daily Press Gallery, comprised of a group of five reporters, denied the Capitol Hill press credentials saying members were not satisfied with the given information about its connections.
Hungary Holds Key Rate Unchanged For 10th Straight Month
Tue, 28 Mar 2017 13:18:23 +0100
Hungary's central bank held its key interest rate unchanged at a record low for a tenth month running on Tuesday.
Street Seems To Be More Optimistic
Tue, 28 Mar 2017 13:11:18 +0100
Indications from U.S. Future Index suggest that Wall Street may open higher on Tuesday. The market seems to be detached to the failure of Obamacare repeal and the shadow cast on President Trump. The U.S. dollar strengthened against other major currencies. Asian shares finished broadly higher, while European shares also are climbing.
The robots really did take people's jobs, study confirms
Tue, 28 Mar 2017 13:10:00 +0100
Industrial robots have had "large and robust negative effects" on employment and wages, a new paper shows according to Buzzfeed.
Trump touts expected Ford announcement on plant investments
Tue, 28 Mar 2017 12:52:00 +0100
U.S. President Donald Trump touted Ford's expected announcement later on Tuesday about investments and jobs at its U.S. plants.
US heading for recession after 2 years of unsustainable growth, economist says
Tue, 28 Mar 2017 12:39:00 +0100
The U.S. is headed for a recession in the next two years as excessive fiscal stimulus takes the economy into unsustainable territory.
Bacardi family spirit: Remember your roots and be frugal
Tue, 28 Mar 2017 12:16:06 +0100
NEW YORK (Reuters) - Facundo L. Bacardi had little interest in joining the family business, which happens to be the largest privately held spirits company in the world, with a portfolio of more than...
Iceland Inflation At 7-Month Low
Tue, 28 Mar 2017 11:46:03 +0100
Iceland's consumer price inflation eased in March to the lowest level in seven months, figures from Statistics Iceland showed Tuesday.
Spain Economy Minister Says Growth May Exceed 2.5% For Next 2-4 Years
Tue, 28 Mar 2017 11:30:00 +0100
Spain's economic growth could exceed 2.5 percent for the next two to four years amid faster job creation, Economy Minister Luis de Guindos said Tuesday.
Ireland Retail Sales Fall In February
Tue, 28 Mar 2017 11:28:56 +0100
Ireland's retail sales decreased in February after rebounding in the previous month, figures from the Central Statistics Office showed Tuesday.
Apple will lose out on US border adjustment tax: Pro
Tue, 28 Mar 2017 11:28:00 +0100
Ben Rogoff, fund manager at Polar Capital, discusses his view on Apple, adding that the company's stock remains undervalued.
UK introduces super secure new £1 coin
Tue, 28 Mar 2017 11:27:00 +0100
The U.K.’s new £1 ($1.25) coin has been dubbed the “most secure” in the world by the Royal Mint, which released the updated tender Tuesday.
European Shares Mostly Higher Ahead Of Brexit Triggering
Tue, 28 Mar 2017 11:25:59 +0100
European stocks were mostly higher on Tuesday as investors put Trump-related worries on the back burner and reassessed the prospects for tax reform and regulation cuts.
Trump’s take on corporate tax rate could look very much like Obama’s
Tue, 28 Mar 2017 11:05:00 +0100
The rate may need to be 28 percent so the president’s plan is tax neutral. When Barack Obama proposed that figure, repeatedly, Republicans called it too high.
Lithuania Retail Sales Growth Eases In February
Tue, 28 Mar 2017 10:36:17 +0100
Lithuania's retail sales eased in February after accelerating in the previous month, figures from the Department of Statistics showed Tuesday.
Sweden Foreign Trade Balanced In February
Tue, 28 Mar 2017 09:29:08 +0100
Sweden's foreign trade balanced in February from a year ago, as exports and imports grew at a same pace, figures from Statistics Sweden showed Tuesday.
FDA Nod For TSRO, D‚j… Vu For ARQL, FOMX Plunges On Trial Data, SELB Abuzz
Tue, 28 Mar 2017 09:25:23 +0100
The FDA has approved TESARO Inc.'s ZEJULA for the treatment of patients with recurrent platinum-sensitive ovarian, fallopian tube, or primary peritoneal cancer. The drug is expected to be launched in the U.S. in late April.
Asian Shares Rise As Risk Appetite Improves
Tue, 28 Mar 2017 09:03:52 +0100
Most Asian stocks rose on Tuesday as investors shrugged off U.S. President Donald Trump's drubbing on health care and turned hopeful that the White House will take a lead role in crafting legislation to overhaul the U.S. tax code, which has bi-partisan support across the country.
Betting business goes in peaks and troughs: Ladbrokes Coral CEO
Tue, 28 Mar 2017 08:43:00 +0100
Ladbrokes Coral CEO Jim Mullen discusses earnings, managing his company's merger and the digital side of the business.
Samsung To Offer Refurbished Galaxy Note 7, Except In US
Tue, 28 Mar 2017 08:26:17 +0100
Samsung is planning to sell the recalled Galaxy Note 7 devices as refurbished or rental phones where applicable, but not in US. In a statement, the company said, "Regarding the Galaxy Note 7 devices as refurbished phones or rental phones, applicability is dependent upon consultations with regulatory authorities and carriers as well as due consideration of local demand. The markets and release dat
Slovakia PPI Climbs For Second Month
Tue, 28 Mar 2017 08:15:40 +0100
Slovakia's producer prices rose for the second straight month in February, figures from the Statistical Office of the Slovak Republic showed Tuesday.
Romania Q4 Unemployment Rate Falls
Tue, 28 Mar 2017 07:22:17 +0100
Romania's unemployment rate decreased in the three months ended December, figures from the National Institute of Statistics showed Tuesday.
European Shares Seen Up In Cautious Trade
Tue, 28 Mar 2017 07:01:37 +0100
European stocks are poised to open higher on Tuesday after Wall Street stocks steadied and the dollar rebounded from a four-month low against major peers, helped by reports that the Trump administration is pressing ahead with other items on its agenda including tax reforms.
In hindsight, Russia 'overplayed it's hand' at hacking: Pro
Tue, 28 Mar 2017 06:09:00 +0100
Christopher Granville, managing director for EMEA and global political research at Trusted Sources, discusses the fallout of accusations of state-sponsored Russian hacking.
Reflation started after Brexit, before US election: Oppenheimer
Tue, 28 Mar 2017 06:09:00 +0100
Peter Oppenheimer, chief global equities strategist at Goldman Sachs, adds that the market has overpriced the Trump administration's capacity for reform.
Furor in Washington DC over Russia more about domestic politics: Expert
Tue, 28 Mar 2017 06:09:00 +0100
Christopher Granville, managing director for EMEA and global political research at Trusted Sources, adds that Russia's economic recovery has been stronger than expected.
European markets open higher as investors shrug off Trump concerns
Tue, 28 Mar 2017 06:09:00 +0100
Markets in Europe opened in positive territory as global investors dismissed concerns over President Trump's ability to deliver his campaign pledges.
Samsung setting bar higher for its new range of devices: Pro
Tue, 28 Mar 2017 06:09:00 +0100
Neil Campling, head of global TMT research at Northern Trust Capital Markets, and CNBC's Arjun Kharpal discuss their expectations for the new Samsung S8 device.
Tech companies that change the world begin like 'drunks at the wheel': Pro
Tue, 28 Mar 2017 06:09:00 +0100
CNBC's Arjun Kharpal and Ben Rogoff, fund manager at Polar Capital, discuss the outlook for Snap following its recent IPO.
Europe will see a boom, US' will be unsustainable: Posen
Tue, 28 Mar 2017 06:09:00 +0100
Adam Posen, president of the Peterson Institute for International Economics, discusses how the Bank of England can react to the risks Brexit presents.
Labour sets out its criteria for judging the Brexit deal
Tue, 28 Mar 2017 06:09:00 +0100
Barry Gardiner, shadow secretary for International Trade for the U.K. Labour party, discusses upcoming Brexit negotiations ahead of article 50's triggering Wednesday.
Lots of risks for Snap, but also lots of rewards
Tue, 28 Mar 2017 06:09:00 +0100
CNBC's Arjun Kharpal and Ben Rogoff, fund manager at Polar Capital, discuss whether Snap is another Facebook - or another Twitter.
Fed, not Trump, will drive the dollar's trajectory: Pro
Tue, 28 Mar 2017 06:09:00 +0100
Valentin Marinov, head of G-10 FX research at Crédit Agricole, adds that in his view the Fed is most likely to hike rates next in September.
Why one analyst thinks that 'the smartphone story is coming to an end'
Tue, 28 Mar 2017 06:09:00 +0100
According to Ben Rogoff, fund manager at Polar Capital, Apple's next iPhone launch will be a "last hurrah for smartphones."
Why the Fed is going back to 'normal'
Tue, 28 Mar 2017 06:09:00 +0100
Peterson Institute for International Economics President Adam Posen says that "anything Mr Trump does only increases the likelihood that you get more rate hikes."
Equities reached high valuations due to QE and low rates: Goldman
Tue, 28 Mar 2017 06:09:00 +0100
Peter Oppenheimer, chief global equities strategist at Goldman Sachs, speaks about his view on equity valuation.
Australia Consumer Confidence Improves
Tue, 28 Mar 2017 05:01:02 +0100
Australia's consumer confidence improved during the week ended March 26, after declining in the previous three weeks, a weekly survey compiled by the ANZ bank and Roy Morgan Research showed Tuesday.
Gainers & Losers Of Mar.27: APOP, IPXL, ZIOP, FOMX...
Tue, 28 Mar 2017 04:46:00 +0100
The following are some of the biotech stocks that made their way onto the Day's Gainers & Losers' list of March 27, 2017.
Asian Markets Rebound
Tue, 28 Mar 2017 04:28:21 +0100
Asian stock markets rebounded on Tuesday, as investors shrugged off the mixed cues overnight from Wall Street and disappointment from U.S. President Donald Trump's inability to advance the healthcare bill to repeal and replace Obamacare.
Snap surges after IPO banks give flurry of 'buy' ratings
Tue, 28 Mar 2017 02:20:25 +0100
(Reuters) - Shares of Snap Inc jumped nearly 5 percent on Monday after several of the Snapchat owner's IPO underwriters handed it badly needed "buy" ratings.
South Korea GDP Bumped Up To 0.5% In Q4
Tue, 28 Mar 2017 01:15:45 +0100
South Korea's gross domestic product expanded a seasonally adjusted annualized 0.5 percent on quarter in the fourth quarter of 2016, the Bank of Korea said in Tuesday's revised reading.
South Korea GDP Revised Up To 0.5% In Q4
Tue, 28 Mar 2017 00:45:45 +0100
South Korea's gross domestic product expanded a seasonally adjusted annualized 0.5 percent on quarter in the fourth quarter of 2016, the Bank of Korea said in Tuesday's revised reading.
Nunes defends his visit to the White House
Tue, 28 Mar 2017 00:13:00 +0100
Nunes visited the White House the day before announcing he had intelligence information, raising a lot of questions on Capitol Hill.
South Korea GDP On Tap For Tuesday
Mon, 27 Mar 2017 23:00:45 +0100
South Korea will on Tuesday release final Q4 figures for gross domestic product, highlighting a light day for Asia-Pacific economic activity.
Despite today's rally, hospital stocks could suffer with or without Obamacare, analyst says
Mon, 27 Mar 2017 22:05:00 +0100
This analyst says the hospital stocks' rally might not continue, even with Obamacare remaining intact.
When shareholders join the populist revolt: James Saft
Mon, 27 Mar 2017 21:50:30 +0100
(Reuters) - Some day, perhaps soon, the populist revolt will spread to another group badly served in recent decades: shareholders.
Chicago Fed's Evans: Failure of GOP's health-care bill 'adds to uncertainties' in US
Mon, 27 Mar 2017 21:05:00 +0100
Chicago Fed. President Evans said Monday that inflation looks "well on its way" to reaching economic objectives.
US Senate panel to question Trump son-in-law on Russians
Mon, 27 Mar 2017 20:23:00 +0100
The panel wants to ask Kushner about two meetings arranged with Russian Ambassador Sergei Kislyak at Trump Tower in New York in December.
Icahn raises ethics flags with dual roles as investor and Trump advisor
Mon, 27 Mar 2017 20:13:00 +0100
Since Trump was elected with help from Icahn's $200,000 in contributions to Republican causes, CVR energy's stock has gone up. The New York Times reports.
Bill Gross settles lawsuit against Pimco for $81 million and a nameplate: Sources
Mon, 27 Mar 2017 18:13:00 +0100
Bill Gross also gets a "Founders Room" named after him, Pimco says.
Your Money: Put your travel bucket list on turbo
Mon, 27 Mar 2017 18:09:40 +0100
NEW YORK (Reuters) - Waiting until you are retired to travel to all your bucket list destinations£ You might want to step on it.
Stocks Remain Mostly Negative In Mid-Day Trading - U.S. Commentary
Mon, 27 Mar 2017 17:06:36 +0100
After showing a notable move to the downside early in the session, stocks have climbed well off their worst levels of the day. The major averages have rebounded off their early lows and back near the unchanged line.
GameStop Shutters 150 Stores As Retail Carnage Continues
Mon, 27 Mar 2017 16:51:46 +0100
Sluggish sales of video games have forced GameStop to take a decision to close around 150 retail locations. Digital downloads and competition from rivals are said to be the reason for shut down. The company operates around 6600 stores worldwide and has not revealed the list of shops to be closed. According to reports GameStop is planning the closure of up to 3 percent of their shops.
Once golden, Robert Rubin's hedge fund proteges lose some luster
Mon, 27 Mar 2017 16:49:00 +0100
Learning to invest on Goldman Sachs' risk arbitrage desk, made famous by leader Robert Rubin, was once seen as a fast track to fortune.
Samsung to sell refurbished Galaxy Note 7 smartphones that were pulled due to fire-prone batteries
Mon, 27 Mar 2017 16:15:00 +0100
The near-$900 phones were scrapped about two months after their launch in one of the biggest product safety failures in tech history.
Amid Leggings Uproar, United Says Stricter Standard For Employee Passes
Mon, 27 Mar 2017 15:52:03 +0100
After coming under fire for its decision to bar two teenage girls from boarding a flight on Sunday morning, United Airlines has defended its action. The two teenage girls were prevented by a gate agent on Sunday morning from boarding a United Airlines flight from Denver to Minneapolis as they were wearing leggings that were deemed as improper attire.
Stocks Recover From Initial Sell-Off But Remain Mostly Lower - U.S. Commentary
Mon, 27 Mar 2017 15:41:18 +0100
After seeing initial weakness, stocks have climbed off their worst levels of the morning but remain mostly negative on Monday. The major averages are adding to the losses posted last week.
Bitcoin wobbles as traders turn to other cryptocurrencies amid uncertain future
Mon, 27 Mar 2017 15:41:00 +0100
It’s been a volatile period for bitcoin investors, as holders prepare for a potential ‘fork’ in the blockchain.
There is no debt ceiling crisis, at least for now
Mon, 27 Mar 2017 15:13:00 +0100
As policymakers battle over Trump's economic initiatives, they won't have to worry about the U.S. becoming a deadbeat.
Treasury Secretary Causes Backlash By Telling People To See Lego Batman
Mon, 27 Mar 2017 15:01:46 +0100
Treasury Secretary Steven Mnuchin's comments about the Lego Batman movie that he produced has raised questions from ethical groups whether he violated federal ethics rules that prohibit the promotion of products. Mnuchin, a former Hollywood producer, was asked several questions related to movies at an Axios event in Washington on Friday.
American Airlines is looking to partner with the biggest airline in China
Mon, 27 Mar 2017 14:50:00 +0100
Chinese airlines account for more than 60 percent of flight routes between China and the United States, NYT reports.
Here’s what small businesses want more than an Obamacare repeal
Mon, 27 Mar 2017 14:44:00 +0100
As a bloc, small-business owners have been among the health care law’s most vocal opponents, NYT reports.
ECB's Praet Says Eurozone Still Needs 'Very Substantial' Stimulus
Mon, 27 Mar 2017 14:39:43 +0100
Eurozone economic recovery is firming, broadening and becoming more resilient, but underlying inflation is yet to signal a convincing upward trend, implying that the single currency economy still needs massive stimulus, European Central Bank policymaker Peter Praet said Monday.
Once golden, Robert Rubin's hedge fund proteges lose some luster
Mon, 27 Mar 2017 14:29:53 +0100
BOSTON/NEW YORK (Reuters) - Learning to invest on Goldman Sachs' risk arbitrage desk, made famous by leader Robert Rubin, was once seen as a fast track to fortune. But the band of hedge fund...
Plateau in US auto sales heightens risk for lenders: Moody's
Mon, 27 Mar 2017 14:14:00 +0100
Moody's says it expects U.S. new vehicle sales to decline slightly to 17.4 million units in 2017.
Growth under Trump to remain modest despite cuts and spending, economists say
Mon, 27 Mar 2017 14:12:00 +0100
A poll of economists says growth is expected to accelerate but remain modest, even if Trump's tax cuts and infrastructure spending are implemented.
Wall Street Might Open Broadly Lower
Mon, 27 Mar 2017 13:48:45 +0100
Initial trading in the U.S. future index is pointing to a lower opening for Wall Street. The market may be resonating to the failed Obamacare repeal and the doubts about President Trumps ability to fulfill his promises. U.S. dollar slipped against its major counterparts. Asian shares finished in the red, while European share are broadly down.
ECB Supervisor Says UK Banks To Be Given Specific Phase-in Time Post-Brexit
Mon, 27 Mar 2017 13:43:58 +0100
UK banks will be provided specific phase-in time to operate in Europe after the country leaves the European Union, Sabine Lautenschlager, Vice-Chair of the Supervisory Board of the European Central Bank, said Monday.
Weakness Overseas May Weigh On Wall Street
Mon, 27 Mar 2017 13:42:50 +0100
The major U.S. index futures are pointing to a lower opening on Monday, with stocks likely to extend the pullback seen last week. The downward momentum on Wall Street comes amid weakness overseas following the decision by Republican leaders to withdraw their bill to repeal and replace Obamacare.
Stocks May Come Under Pressure Amid Weakness Overseas - U.S. Commentary
Mon, 27 Mar 2017 13:39:27 +0100
Following the pullback seen last week, stocks may see some further downside in early trading on Monday. The major index futures are currently pointing to a lower open for the markets, with the Dow futures down by 143 points.
Sealed Air to sell cleaning and chemicals systems division to Bain Capital for about $3.2 billion
Mon, 27 Mar 2017 13:25:00 +0100
Sealed Air on Monday said it agreed to sell its cleaning and chemicals systems division, Diversey Care, to Bain Capital for about $3.2 billion.
Turkey Capacity Utilization Drops; Business Confidence Improves
Mon, 27 Mar 2017 12:53:38 +0100
Turkey's capacity utilization rate declined more-than-expected in March, while real sector confidence improved unexpectedly, figures from the central bank showed Monday.
Brazil Consumer Confidence Strongest Since Dec 2014
Mon, 27 Mar 2017 12:41:53 +0100
Brazil's consumer confidence strengthened for the third straight month in March to the highest level in more than two years, figures from the Getulio Vargas Foundation, or FGV, showed Monday.
Trump's 'America First' pledge will not damage PhosAgro: CEO
Mon, 27 Mar 2017 12:36:00 +0100
Trump's protectionist agenda is unlikely to hamper the growth prospects of Russian agrichemicals giant PhosAgro, the group's CEO said on Monday.
BoE: Brexit, Household Indebtedness Main Risks To UK's Financial Stability
Mon, 27 Mar 2017 12:23:34 +0100
The Brexit and high household indebtedness are some of the main risks to UK's financial stability, the Financial Policy Committee of the Bank of England said Monday.
ECB's Nouy: NPLs To Remain Top Priority For Sometime
Mon, 27 Mar 2017 12:13:36 +0100
Non-performing loans remain a big issue in some euro area member states and are set to be a top priority for some time to come, Daniele Nouy, Chair of the Supervisory Board of the European Central Bank, said Monday.
North Carolina's 'bathroom bill' will cost the state $3.76 billion
Mon, 27 Mar 2017 12:00:00 +0100
The law limiting LGBT protections will cost the state more than $3.76 billion in lost business over a dozen years, according to the Associated Press.
US gas prices down a penny over 2 weeks, to $2.34 a gallon
Mon, 27 Mar 2017 11:41:00 +0100
Industry analyst Trilby Lundberg said Sunday that the price drop comes as crude oil prices also slipped during the same period.
German Business Confidence Strongest Since Mid-2011
Mon, 27 Mar 2017 11:34:37 +0100
German business sentiment strengthened to a 68-month high in March as economic impetus pushed up companies' assessment of the current assessment and outlook. The business confidence index rose to 112.3 in March from a revised 111.1 in February, survey data from the Munich-based Ifo institute revealed Monday.
Malta PPI Falls Further In February
Mon, 27 Mar 2017 11:23:28 +0100
Malta's producer prices decreased for the fifth straight month in February, figures from the National Statistical Office showed Monday.
European Shares Broadly Lower After US Healthcare Bill Setback
Mon, 27 Mar 2017 11:16:35 +0100
European markets were trading lower on Monday, although stocks recouped some early losses following a report on German business sentiment that easily topped forecasts.
Hong Kong Trade Deficit Widens In February
Mon, 27 Mar 2017 10:30:28 +0100
Hong Kong's foreign trade deficit increased notably in February from a year ago, as imports grew faster than exports, figures from the Census and Statistics Department showed Monday.
China’s colorful bike wars heat up with more wheels on the road
Mon, 27 Mar 2017 10:24:00 +0100
"Our financial situation is in a very strong position, and we are not in a rush to think about turning a profit," Mobike CEO Davis Wang told CNBC.
Eurozone Money Supply Growth Eases Slightly
Mon, 27 Mar 2017 09:30:48 +0100
Eurozone money supply growth eased for the second straight month in February, though marginally, figures from the European Central Bank showed Monday.
United Airlines Bars Two Girls From Flight For Wearing Leggings
Mon, 27 Mar 2017 09:18:56 +0100
A United Airlines gate agent barred two teenage girls from boarding a flight on Sunday for wearing leggings, noting that they failed to meet a dress code for special pass travelers. United spokesman Jonathan Guerin responded that the two girls traveling with a companion would not have been turned away for wearing leggings if they were paying customers.
Asian Shares Retreat On Trump's Healthcare Defeat
Mon, 27 Mar 2017 09:03:38 +0100
Asian stocks closed mostly lower on Monday, with a firming yen sending Japanese markets sharply lower, while losses remained limited across the region.
BT fined record $53 million for business-line installation errors
Mon, 27 Mar 2017 08:14:00 +0100
Britain's BT has been fined a record 42 million pounds ($53 million) by the regulator for failing to install high-speed lines for businesses fast enough.
China To Open Up More To Foreign Investors, Seek Fair Treatment: PBoC Chief
Mon, 27 Mar 2017 08:13:37 +0100
China will welcome foreign investment in more sectors going forward and would expect fair treatment overseas, the People's Bank of China Governor Zhou Xiochuan said Sunday.
Arctic is the biggest frontier for oil exploration worldwide: Pro
Mon, 27 Mar 2017 07:58:00 +0100
Andrew Latham, vice president of global exploration at Wood MacKenzie, discusses the potential of the Arctic to yield key energy commodities.
'Disruptor' status could mean some tech stocks are overvalued: SocGen
Mon, 27 Mar 2017 07:58:00 +0100
Nandini Ramakrishnan, global market strategist at JPMAM, and Kokou Agbo Bloua, global head of flow strategy at Societe Generale, discuss technology stocks.
European markets open lower after Trump's health-care setback
Mon, 27 Mar 2017 07:58:00 +0100
European markets opened lower as investors adopted a cautious tone after U.S. President Donald Trump's surprise failure to deliver swift health-care reform.
Like financials for the course of 2017 - don't love tech: JPMAM
Mon, 27 Mar 2017 07:58:00 +0100
Nandini Ramakrishnan, global market strategist at JPMAM, discusses her preferred market sectors to invest in.
Finland Manufacturing Confidence Improves In March
Mon, 27 Mar 2017 07:52:21 +0100
Finland's manufacturing confidence improved in March, after remaining stable in the previous month, survey data from the Confederation of Finnish Industries (EK) showed Monday.
Finland Consumer Confidence Highest Since Sep 2010
Mon, 27 Mar 2017 07:26:30 +0100
Finland's consumer confidence strengthened in March to the strongest level in six-and-a-half years, survey data from Statistics Finland showed Monday.
Trump son-in-law Jared Kushner to oversee government overhaul
Mon, 27 Mar 2017 07:22:00 +0100
Trump is to appoint son-in-law Jared Kushner to head a new White House innovation team to revamp federal bureaucracy.
European Economics Preview: Germany's Ifo Business Confidence Data Due
Mon, 27 Mar 2017 06:58:30 +0100
Business confidence data from Germany is due on Monday, headlining a light day for the European economic news.
European Shares Seen Lower On US Policy Woes
Mon, 27 Mar 2017 06:55:30 +0100
European stocks look set to open lower on Monday, with Brexit worries and the dollar's weakness against the euro and pound likely to keep investors nervous.
BoJ To Continue Pursuing Powerful Monetary Easing
Mon, 27 Mar 2017 06:47:41 +0100
Bank of Japan board members viewed that the bank should not rush to action and it should pursue monetary easing under the current framework with patience, the summary of opinions from the monetary policy meeting showed Monday.
'Trump trade' led to position trading on oil market: SocGen
Mon, 27 Mar 2017 06:29:00 +0100
Kokou Agbo Bloua, global head of flow strategy and solutions at Societe Generale, discusses what he perceives as positioning in the oil market.
Software that monitors financial firms' employees
Mon, 27 Mar 2017 06:29:00 +0100
Behavox CEO Erkin Adylov discusses the market for his compliance-monitoring software.
Germany's Saarland state election a litmus test for Shulz
Mon, 27 Mar 2017 06:29:00 +0100
Annette Weisbach weighs in on this weekend's Saarland state election in Germany, which could foreshadow the outcome of the federal election in September.
BOE stress tests a good thing for banks overall
Mon, 27 Mar 2017 06:29:00 +0100
CNBC's Gemma Acton speaks about her expectations of the Bank of England's stress-testing reform, adding that Brexit must be factored in.
Trump's protectionism will not damage our market: PhosAgro CEO
Mon, 27 Mar 2017 06:29:00 +0100
PhosAgro CEO Andrey Guryev explains that the U.S. is not his company's major market, and also discusses the domestic environment in Russia.
Political uncertainty in euro zone could prolong QE
Mon, 27 Mar 2017 06:29:00 +0100
CNBC's Annette Weisbach speaks about how the European Central Bank will react to political risk in Europe.
2016 one of the hardest years since the financial crisis: PhosAgro CEO
Mon, 27 Mar 2017 06:29:00 +0100
PhosAgro CEO Andrey Guryev speaks about how his company's earnings were impacted by pricing, as well as China's role in the fertilizer market.
BOE reforms stress-testing framework
Mon, 27 Mar 2017 06:19:00 +0100
CNBC's Gemma Acton discusses the Bank of England's stress tests, which she anticipates will include "quite a few changes on the assumption side ... Less so on the framework side."
Trump still has potential to boost the economy: SocGen
Mon, 27 Mar 2017 06:19:00 +0100
Kokou Agbo Bloua, global head of flow strategy and solutions at Societe Generale, says that he thinks that U.S. President Donald Trump still has potential to boost the economy.
French election risk concentrated in fixed income area: SocGen
Mon, 27 Mar 2017 06:19:00 +0100
Kokou Agbo Bloua, global head of flow strategy and solutions at Societe Generale, discusses the risks surrounding this year's spate of European elections.
Why Trump's fate could equal that of Greece's Tsipras
Mon, 27 Mar 2017 06:19:00 +0100
Vasileios Gkionakis, head of global FX strategy at UniCredit, adds that "populism relies on hearsay."
Riding High: CommScope
Mon, 27 Mar 2017 06:15:55 +0100
Explosive growth of connected devices and data centre traffic, streaming video, growing demand for virtualization in networking environments, and increasing usage of cloud infrastructure have been driving the demand for more bandwidth.
China's Industrial Profits Surge
Mon, 27 Mar 2017 05:19:39 +0100
China's industrial profits grew sharply in the first two months of the year, driven by faster rise in prices of coal, steel and crude oil, data from the National Bureau of Statistics showed Monday.
Japan Corporate Service Prices Rise 0.8% In February
Mon, 27 Mar 2017 01:15:44 +0100
Corporate service prices in Japan were up 0.8 percent on year in February, the Bank of Japan said on Monday.
Fed's Bullard says he's okay with another rate hike this year
Fri, 24 Mar 2017 14:30:00 +0000
The Fed should also begin allowing its massive portfolio to run off, St. Louis Federal Reserve Bank President James Bullard said on Friday.
Believe Trump — pass GOP health bill or Obamacare stays, warns White House budget director Mulvaney
Fri, 24 Mar 2017 13:40:00 +0000
White House budget director Mick Mulvaney also tells CNBC he's not sure the administration has enough votes for passage.
Traders Focus On Washington Ahead Of Key Vote
Fri, 24 Mar 2017 12:52:59 +0000
The major U.S. index futures are pointing to a higher opening on Friday, although traders may be reluctant to make significant moves as the House prepares to hold a vote on a Republican bill to repeal and replace Obamacare.
Treasury Sec Mnuchin says will try to get 'comprehensive' tax reform done by Congress' August recess
Fri, 24 Mar 2017 12:43:00 +0000
Treasury Secretary Steven Mnuchin said the tax plan will be comprehensive, including both personal and corporate tax reform.
US durable goods orders rose in February, led by aircraft
Fri, 24 Mar 2017 12:30:00 +0000
Orders for long-lasting factory goods were expected to rise 1.2 percent in February after increasing 1.8 percent a month earlier.
Hedge fund manager Eric Mindich shuts down Eton Park
Thu, 23 Mar 2017 20:49:36 +0000
BOSTON (Reuters) - Thirteen years ago Eric Mindich set an industry record when he raised $3 billion for his new hedge fund Eton Park. Now the fund is being shut down, becoming the year's most...
Why Wall Street should stop freaking out about the health-care vote
Thu, 23 Mar 2017 19:59:00 +0000
Investors' fears about the Obamacare repeal aren't likely to be realized, according to analyses ahead of Thursday's vote.
Top House tax writer suggests measures to mitigate the impact of the border tax
Thu, 23 Mar 2017 16:50:00 +0000
House Ways and Means Committee Chairman Kevin Brady offers ideas on how to blunt the initial impact of a border adjustment tax on imports.
500,000 jobs added to health-care sector under Obamacare, Goldman Sachs estimates
Thu, 23 Mar 2017 16:24:00 +0000
The analysis comes as the House of Representatives is poised to vote on a bill to replace key parts of Obamacare.
Obamacare repeal could undermine a major pillar of President Trump's agenda
Thu, 23 Mar 2017 14:51:00 +0000
Goldman estimates every percentage point increase of Americans with health insurance yielded a 0.6 percent rise in health employment.
Joe Biden says Republican health care is a giveaway to the rich
Thu, 23 Mar 2017 14:13:00 +0000
Biden said eliminating Obamacare would only benefit drug, insurance and medical device companies, USA Today reports.
Stocks May Lack Direction Amid Focus On Capitol Hill
Thu, 23 Mar 2017 12:52:05 +0000
The major U.S. index futures are pointing to a slightly higher opening on Thursday, although trading activity may be subdued amid a focus on Capitol Hill ahead of an anticipated vote on the Republican plan to repeal and replace Obamacare.
Mester says favors steps this year to reduce Fed's balance sheet
Wed, 22 Mar 2017 12:58:00 +0000
Cleveland Fed President Mester said that if the economic data holds up she supports the U.S. central bank taking steps that would begin to reduce its debt.
Concerns About Trump Agenda May Continue To Weigh On Wall Street
Wed, 22 Mar 2017 12:51:38 +0000
The major U.S. index futures are pointing to a lower opening on Wednesday, with stocks poised to see further downside following the sell-off seen in the previous session.
Mortgage applications fall 2.7%, as borrowers turn to riskier loans
Wed, 22 Mar 2017 11:00:00 +0000
Higher housing costs have borrowers searching for the best deals on home loans.
Hot US real estate a potential red flag, warns Fed's Rosengren
Wed, 22 Mar 2017 10:06:00 +0000
The run-up in U.S. real estate prices could potentially amplify any future economic downturn, a Federal Reserve official said on Tuesday.
Fed's Kaplan sees 3 rate hikes in 2017, no rush on balance sheet
Wed, 22 Mar 2017 09:51:00 +0000
The Fed should raise rates two more times this year and continue work on a plan to trim its massive balance sheet, Dallas Fed President Robert Kaplan said.
US current account shrinks in fourth quarter
Tue, 21 Mar 2017 13:14:00 +0000
The Commerce Department said on Tuesday the current account deficit fell 3.1 percent to $112.4 billion.
Futures Pointing To Modestly Higher Open On Wall Street
Tue, 21 Mar 2017 12:41:11 +0000
The major U.S. index futures are pointing to a modestly higher opening on Tuesday, although traders may remain reluctant to make any significant moves. Traders may remain on the sidelines amid another quiet day on the U.S. economic front, looking ahead to reports on new and existing homes and durable goods orders due later in the week.
Don’t look now, but inflation may be about to surge
Tue, 21 Mar 2017 12:00:00 +0000
Investors aren't properly pricing rising inflation into their decision making, according to one portfolio manager.
Light Economic Calendar May Lead To Choppy Trading
Mon, 20 Mar 2017 12:55:10 +0000
The major U.S. index futures are pointing to a modestly lower opening on Monday following the lackluster performance seen last Friday. Disappointment with the outcome of the G20 meeting may weigh on the markets, as finance ministers failed to agree on a commitment to keep global trade free and open.
Choppy Trading May Persist Ahead Of G20 Meeting
Fri, 17 Mar 2017 12:45:23 +0000
The major U.S. index futures are pointing to a roughly flat opening on Friday following the lackluster performance seen in the previous session. Traders may look to take a breather as they continue to digest Wednesday's closely watched monetary announcement from the Federal Reserve.
Positive Reaction To Fed May Lead To Further Upside On Wall Street
Thu, 16 Mar 2017 13:01:20 +0000
The major U.S. index futures are pointing to a higher opening on Thursday, with stocks likely to see further upside after moving notably higher over the course of the previous session. Stocks may continue to benefit from a positive reaction to yesterday's monetary policy announcement by the Federal Reserve.
Traders May Stick To The Sidelines Ahead Of Fed Announcement
Wed, 15 Mar 2017 13:03:38 +0000
The major U.S. index futures are pointing to a higher opening on Wednesday following the modest drop seen in the previous session. However, traders may be reluctant to make any significant moves ahead of the Federal Reserve's monetary policy announcement due this afternoon.
Looming Fed Meeting May Lead To Choppy Trading On Wall Street
Mon, 13 Mar 2017 13:00:59 +0000
The major U.S. index futures are pointing to a roughly flat opening on Monday following the weakness seen last week. Traders may be reluctant to make any significant moves ahead of the Federal Reserve's monetary policy announcement on Wednesday.
Upbeat Jobs Data May Lead To Early Strength On Wall Street
Fri, 10 Mar 2017 12:56:37 +0000
The major U.S. index futures are pointing to a higher open on Friday following the release of a report from the Labor Department showing stronger than expected job growth in the month of February.
Futures Pointing To Roughly Flat Open On Wall Street
Thu, 09 Mar 2017 13:03:48 +0000
The major U.S. index futures are pointing to a roughly flat opening on Thursday, with stocks poised to turn in another lackluster performance. Trepidation ahead of the release of the closely watched monthly jobs report on Friday may keep some traders on the sidelines.
Looming Jobs Report, Fed Meeting May Lead To Choppy Trading
Wed, 08 Mar 2017 12:57:25 +0000
The major U.S. index futures are pointing to a roughly flat opening on Wednesday following the modest weakness seen in the two previous sessions. Traders may be reluctant to make significant moves ahead of the monthly jobs report due on Friday as well as next week's Federal Reserve meeting.
Profit Taking, Rate Hike Concerns May Weigh On Wall Street
Tue, 07 Mar 2017 13:04:18 +0000
The major U.S. index futures are pointing to a slightly lower opening on Tuesday, with stocks likely to see further downside following the modest weakness seen in the previous session. Traders may continue to cash in on some of the recent strength in the markets, which lifted the major averages to record highs last Wednesday.
Stock Futures Pointing To Early Weakness On Wall Street
Mon, 06 Mar 2017 12:58:56 +0000
The major U.S. index futures are pointing to a lower opening on Monday following the strength seen last week. Profit taking may contribute to early weakness on Wall Street, as some traders cash in on the recent strength in the markets.
Focus On Yellen Speech May Lead To Choppy Early Trading On Wall Street
Fri, 03 Mar 2017 12:39:37 +0000
The major U.S. index futures are pointing to a mixed open on Friday, as traders may be reluctant to make any significant moves ahead Federal Reserve Chair Janet Yellen's speech to the Executives' Club of Chicago this afternoon.
Futures Pointing To Continued Strength On Wall Street
Thu, 02 Mar 2017 12:56:16 +0000
The major U.S. index futures are pointing to a modestly higher opening on Thursday following the rally seen in the previous session. Stocks may continue to benefit from optimism about President Donald Trump's policies on the heels of his speech Tuesday night.
Positive Reaction To Trump Speech May Lead To Rally On Wall Street
Wed, 01 Mar 2017 12:56:12 +0000
The major U.S. index futures are pointing to a sharply higher opening on Wednesday, reflecting a positive reaction to President Donald Trump's address to a joint session of Congress. While Trump's speech lacked details on his plans for tax reform and replacing Obamacare, investors seem relieved that he struck a softer, more conventional tone.
Focus On Trump Speech May Lead To Choppy Trading On Wall Street
Tue, 28 Feb 2017 12:54:28 +0000
The major U.S. index futures are pointing to a roughly flat opening on Tuesday as traders await President Donald Trump's highly anticipated speech to a joint session of Congress. The markets have recently benefited from optimism about pro-business policies under Trump, and traders will be looking additional details on his policies on tax reform, deregulation, and infrastructure spending.
Futures Pointing To Modestly Lower Open On Wall Street
Mon, 27 Feb 2017 12:59:22 +0000
The major U.S. index futures are pointing to a modestly lower opening on Monday following the strength seen in the previous week. Profit taking may lead to weakness on Wall Street following the recent strength in the markets. Nonetheless, trading activity may be somewhat subdued ahead of President Donald Trump's speech to a joint session of Congress on Tuesday.
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