Airplanes and Panamax cargo ships redefined the parcel service in the 20th century, but those days may be fading quickly. Morgan Stanley believes the SpaceX plan for the Big Falcon Rocket as a reusable mode of Earth transportation could change the game for United Parcel Services and FedEx. “The freight transportation business — especially parcel […]
Read moreCurrency, United States Finance
Oil will crash to $10 a barrel with electric vehicle revolution, strategist says
Oil prices are poised to crash to just $10 per barrel over the next six to eight years as alternative energy fuels continue to attract more and more investors, Chris Watling, chief executive of Longview Economics, told CNBC on Friday. When looking ahead to 2018, Watling acknowledged that a key catalyst for the oil market […]
Read moreThe SPDR S&P Retail ETF (XRT) is having its worst week since December 2016, but Boris Schlossberg says there is a strong case for buying the most recent retail dip. The XRT fell 1.3 percent Thursday, and is now down more than 4 percent for the week. A few names within the ETF, such as […]
Read moreBitcoin’s market capitalization has surpassed major stocks such as Goldman Sachs and Morgan Stanley, after the cryptocurrency hit an all-time high on Friday. The virtual currency hit a record high of $5,856.10 in the early hours of Friday morning, according to data from industry website CoinDesk. Its market capitalization, which is the total value of […]
Read moreUber lodged an appeal with a British court after the ride-hailing app lost its operating license in London, the company said on Friday. The appeal hearing is likely to be on December 11, according to a spokesperson for the U.K. judiciary office. Uber said that the appeal was filed at Westminster Magistrates’ Court in London. […]
Read moreBitcoin hit another record high on Friday, continuing the rally seen in the previous day amid renewed bullish sentiment from investors. The price of the cryptocurrency hit an all-time high of $5,856.10 in the early hours of Friday morning, according to data from industry website CoinDesk. But profit taking from investors saw the bitcoin price […]
Read moreChina’s foreign aid is sharply in focus this week with an unprecedented new data trove showing the country’s growing global reach and detailing how Beijing spends its cash. In recent decades, the world’s second largest economy has evolved from an aid recipient to a net aid donor. But a lack of official information on China’s […]
Read moreA series of tremors and landslides near North Korea’s nuclear test base likely mean the country’s sixth and largest blast has destabilized the region, and the Punggye-ri nuclear site may not be used for much longer to test nuclear weapons, experts say. A small quake was detected early on Friday near the North’s nuclear test […]
Read moreThe head of the European Central Bank defended a pledge to keep interest rates at rock bottom on Thursday, batting back German calls for a speedy exit from years of easy money in the eurozone. With two weeks to go before the ECB decides on the future of its stimulus policy, its president, Mario Draghi, […]
Read moreThe constitutional crisis between Spain and Catalonia could result in the now-mythical “Article 155” being invoked by the Spanish government as a last resort to bring the region’s pro-independence government to heel. Here, CNBC explains just what Article 155 is and how it could affect Spain and Catalonia’s futures. The term Article 155 has been […]
Read more