Chinese bike-sharing startup Ofo has set its sights on global expansion, saying on Thursday it raised over $700 million in a funding round that included Jack Ma’s Alibaba Group. The funding round was led by Alibaba, Hony Capital and CITIC Private Equity, with additional participation from existing investors Didi Chuxing and DST Global. “We will […]
Read moreOPEC wants higher oil prices. But the same things keep getting in the way. Ever cheaper U.S. shale oil production and growing crude supplies are foiling the plans of the Organization of the Petroleum Exporting Countries to support prices with an export cut designed to remove 1.8 million barrels a day from the market through […]
Read moreArts and crafts retailer Hobby Lobby has agreed to forfeit thousands of illegally smuggled ancient Middle Eastern artifacts obtained from antiquities dealers for a Bible museum headed by its president, the company and U.S. officials said on Wednesday. The forfeiture will include some 5,500 artifacts purchased by Hobby Lobby that originated from the region of […]
Read moreSoaring debt levels in China were a serious concern as the fallout of any crisis would hit everyone else, said a former International Monetary Fund (IMF) economist on Thursday. “If there’s a country in the world which is really going to affect everyone else and which is vulnerable, it’s got to be China today,” Kenneth […]
Read morePresident Donald Trump may be talking tough on trade, pulling the U.S. out of the Trans-Pacific Partnership (TPP), but most of the rest of the world is pushing ahead. Japan was emerging as a leader on free trade, as it edges closer to a free trade pact with the European Union which could be completed […]
Read moreSpaceX has launched a communication satellite on the third try. The unmanned Falcon rocket blasted off Wednesday evening from Florida’s Kennedy Space Center. It successfully hoisted an Intelsat satellite that was going so high that there wasn’t enough leftover fuel to attempt a booster landing. So the first stage fell into the Atlantic, as is […]
Read moreThe founder of the Virgin Group, Sir Richard Branson, has sharply criticized some Trump administration policies, calling them unhealthy and dangerous, and didn’t spare the lash on Brexit. Branson, who spoke with CNBC onboard Virgin Australia’s inaugural flight between Australia and Hong Kong on Wednesday, said he’s dismayed by the rise in protectionist policies, particularly […]
Read moreOn Wednesday, dramatic declines in the auto and retail sectors did not seem to drag the market down with them, and Jim Cramer shared his reason why. “First, there’s a major change occurring in how individuals spend their time and money. At this point, we’ve all doubtless gotten sick of the term ‘experiential’ to explain […]
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In light of the tug-of-war in the crude oil space, where prices have traded between the low $40s and low $50s since March, Jim Cramer used the charts to try to foresee the commodity’s future. “Despite all of the crude bulls out there, and boy, we’ve got way too many of them, the truth is […]
Read moreTechnology stocks have been fairly consistent out-performers in the stock market, so much so that Jim Cramer wanted to counter growing worries that the tech sector is overvalued. “It seems like every hedge fund manager who still cares about individual stocks believes that tech is too expensive. It doesn’t matter what these companies do, or […]
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