Investors are becoming too relaxed about the future direction of the Federal Reserve and need to pay closer attention to the composition of its next board of governors, a strategist told CNBC. The next leader of the U.S. Federal Reserve will be named Thursday and most expect President Donald Trump to have chosen Jay Powell, […]
Read moreThe Bank of England (BOE) raised interest rates for the first time in more than 10 years Thursday, a landmark move after borrowing costs had slumped to the lowest level on record. Alongside Governor Mark Carney, the majority of rate-setters at the U.K.’s central bank voted in favor of hiking the benchmark rate to 0.5 […]
Read moreChinese e-commerce giant Alibaba said on Thursday its quarterly revenue climbed 61 percent, beating analysts’ estimates, helped by growth in its core e-commerce business. The firm, headed by billionaire entrepreneur Jack Ma, posted 55.12 billion yuan ($8.34 billion) in revenue for the July-September quarter, above a 52.2 billion yuan forecast by analysts polled by Reuters. […]
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Banks are staying away from bitcoin 'bubble' due to money laundering, Credit Suisse CEO says
Banks have “little or no appetite” to get involved with bitcoin and cryptocurrencies due to fears of a bubble and illicit activity associated with it, the chief executive of Credit Suisse said Thursday. “I think most banks in the current state of regulation have little or no appetite to get involved in a currency which […]
Read moreBombardier said on Thursday it received a letter of intent from a European customer to buy up to 61 CSeries jets, while reporting a larger loss for the third quarter. The Canadian plane and train maker said the letter of intent includes 31 firm orders and options for another 30 jets. Based on list prices, […]
Read moreCME Group announced plans for bitcoin futures contracts earlier this week, a move that UBS analyst Paul Donovan has compared to the introduction of a similar product just before the tulip bubble burst in the 1600s. The tulip craze in the Netherlands in the 17th century saw the price of the flower skyrocket. This resulted […]
Read moreNew highs in the U.S. stock market are certainly good news — for those who own stocks. The bad news is, those who own stocks are only a small part of total U.S. households. The investment class in the United States is small, and it’s not getting bigger. According to the latest Gallup poll of […]
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A classic technical gauge may be pointing to further gains for crude oil. West Texas Intermediate crude oil just posted a “golden cross,” a technical formation that occurs when an asset’s shorter-term moving average crosses over its longer-term moving average. In this case, crude oil’s 50-day moving average crossed over its 200-day moving average. This […]
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Credit Suisse CEO responds to calls for bank to break up — and will meet with activist investor
Credit Suisse boss Tidjane Thiam staunchly defended his record as CEO of Switzerland’s second-largest bank Thursday, despite calls from an activist investor for the lender to break up. In recent weeks, a relatively small but top-performing activist hedge fund announced an ambitious plan to break up Credit Suisse. RBR Capital Advisors, led by outspoken trader […]
Read moreTesla is going to be the top performing big name technology stock in the next five years, one noted analyst has told CNBC. Gene Munster, a former analyst at Piper Jaffray and now venture capitalist at Loup Ventures, was speaking afterg Tesla’s disappointing earnings on Wednesday. The electric car-maker reported a larger-than-expected loss per share […]
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