There is “irrational exuberance” in the initial coin offering (ICO) market and it’s a technology that’s here to stay, the co-founder of Ethereum said Wednesday. Joseph Lubin told CNBC said while there is a lot of excitement around ICOs, the long-term potential of the “profoundly powerful” technology is huge. “There’s certainly some irrational exuberance in […]
Read moreGary Cohn was in some ways an unlikely choice for Donald Trump‘s White House. He is a Democratic Wall Street veteran serving a Republican president who cast himself as the champion of “forgotten people” battered by economic change. But Cohn, 57, jumped at the chance to leave a top job at Goldman Sachs and become […]
Read moreCNBC’s John Harwood sat down with National Economic Council Director Gary Cohn to discuss a range of topics, including the matter of luring companies to stay in America. What follows is a condensed, edited transcript of their conversation. Harwood: Do you think the economic effects you’re describing will take place even if firms don’t take […]
Read moreA Las Vegas-based self-driving shuttle service celebrated its launch day by getting into an accident with a human driver, according to a news report from local Nevada broadcast station KSNV News 3. The shuttle, made by French startup Navya and owned and operated by French private transportation company Keolis, operates on a 0.6-mile loop around […]
Read morePresident Donald Trump can return to the United States claiming to have snagged over $250 billion in deals from his maiden trip to Beijing. Whether those deals live up to the lofty price tag is another question altogether. Watched by Trump and China’s President Xi Jinping at a signing ceremony in Beijing, U.S. planemaker Boeing, […]
Read moreWe have a shot at 12 initial public offerings this week, the busiest week of the year so far. One trend stands out: The Chinese are coming. And coming. There are three Chinese IPOs this week. Three? “It’s a case of following the money,” John Fitzgibbon, founder of research firm IPO Scoop, said. “Earlier Chinese […]
Read moreGoldman Sachs Chairman and CEO Lloyd Blankfein told CNBC on Thursday that his firm’s agreement to establish a $5 billion investment vehicle with China’s sovereign wealth fund is aimed at putting money into “U.S. companies that could be helped by better access to China.” The China Investment Corporation (CIC) and Goldman have pledged to split […]
Read moreGreece’s primary surplus is likely to rise to 3.9 percent of GDP, beating a target of 3.5 percent, next year when the country is to exit the latest euro zone bailout programme and return to market financing, the European Commission forecast on Thursday. In a regular forecast for all European Union economies, the Commission said […]
Read moreTrying to regulate artificial intelligence (AI) is a “silly idea,” Pat Gelsinger, CEO of VMWare told CNBC Wednesday, amid continued debate about the role of the technology in the future. VMWare is a cloud computing and software virtualization company with a market capitalization of nearly $50 billion. AI could play a key role in its […]
Read moreSnapchat’s biggest design shakeup since its launch is scheduled to take place in December, according to a report by Business Insider. The redesign would make the popular social media app “easier to use,” according to Evan Spiegel, the CEO of parent company Snap Inc. Although Spiegel didn’t indicate a timeline for when the new look […]
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