Britain slashed its official projections for economic growth Wednesday and anticipates it will need to borrow sharply over the coming years. Finance Minister Philip Hammond delivered the U.K. government’s official Autumn Budget at a time when the ruling Conservative party is facing challenging political and economic circumstances. The non-partisan Office for Budget Responsibility (OBR) forecast […]
Read moreBillionaire Elon Musk claims to have made $300,000 in hat sales for his tunneling venture called The Boring Company. Musk founded the tunelling firm after becoming furstrated with traffic in Los Angeles. His idea is to build a series of tunnels under L.A. with cars ferried around on pods at around 125 mph. And to […]
Read moreStruggling ride-hailing firm Uber faces a fresh regulatory crackdown after disclosing it paid hackers $100,000 to keep secret a massive breach last year that exposed personal data from around 57 million accounts. Discovery of the U.S. company’s cover-up of the incident resulted in the firing of two employees responsible for its response to the hack, […]
Read moreHousing stocks are on a tear this year, and it may not be too late to get in on the rally. One large-cap homebuilders ETF, the XHB, has advanced 25 percent in 2017 and has climbed to its highest level in over 11 years. Its top holdings, D.R. Horton and PulteGroup, have gained a whopping […]
Read moreThe U.S. government on Tuesday urged businesses to act on an Intel alert about security flaws in widely used computer chips as industry researchers scrambled to understand the impact of the newly disclosed vulnerability. The Department of Homeland Security gave the guidance a day after Intel said it had identified security vulnerabilities in remote-management software […]
Read moreUber could face an investigation and potential fines in the U.K. after covering up a massive data breach, the country’s data watchdog told CNBC on Wednesday. On Tuesday, Uber revealed that it had suffered a hack by two people on its third-party cloud service. The names and driver’s license numbers of around 600,000 drivers in […]
Read moreEnergy stocks are about to play catch-up to the rest of the market, one strategist says. Larry McDonald, founder of the Bear Traps Report investment newsletter, has been watching closely the apparent disconnect between strong global growth and lagging oil stocks. After all, domestic and international stock markets are near all-time highs, he pointed out. […]
Read moreChina took steps to rein in the rapidly growing and lightly regulated market for online micro-lenders in the government’s latest crackdown on internet finance, sending shares of U.S.-listed Chinese financial firms into a tailspin. A top-level Chinese government body issued an urgent notice on Tuesday to provincial governments urging them to suspend regulatory approval for […]
Read moreNorth Korea denounced on Wednesday U.S. President Donald Trump’s decision to relist it as a state sponsor of terrorism, calling it a “serious provocation and violent infringement,” North Korean state media reported. Trump put North Korea back on a list of state sponsors of terrorism on Monday, a designation that allows the United States to […]
Read moreFinancial technology company Ion Investment Group said on Wednesday it would buy a controlling stake in Dealogic, which provides financial content and analytics, from Carlyle Group and Britain’s Euromoney Institutional Investor. Ion and Carlyle did not provide financial terms of the deal in a statement but said that Carlyle would retain “significant ownership” in Dealogic. […]
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