The race to see who will lead the Federal Reserve in 2018 and beyond is becoming a process of elimination, with two and perhaps three candidates remaining. President Donald Trump apparently has solidified his thinking and is now choosing between Fed Governor Jerome “Jay” Powell and Stanford economist John Taylor. However, several twists have been […]
Read moreFacebook‘s Slack competitor is growing quickly. A year after Facebook officially launched Workplace, an enterprise version of its social network for communicating with your co-workers, the company has 30,000 businesses using the service, up from roughly 1,000 businesses a year ago and 14,000 businesses six months ago. Facebook is also launching new features for Workplace, […]
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Euro sinks after ECB reveals a gentle exit from its stimulus program
The euro fell sharply percent against the dollar shortly after the European Central Bank (ECB) announced plans to trim the bank’s monthly asset purchase program from January. Crucially, the bank also noted that the program could be extended again if necessary. The ECB has been running its bond buying at a pace of 60 billion […]
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China is the largest market for robots in the world right now, ABB CEO says
China is dominating the robotics market, according to the chief executive of Swedish-Swiss automation giant ABB. Ulrich Spiesshofer said Thursday that the Asian powerhouse is “the largest robotics market of the world,” and that this would likely continue to be the case next year. “ABB is clearly the number one in China. Our long-term investment […]
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ECB unveils plan to cut, but extend, its massive bond-buying program
The European Central Bank (ECB) decided Thursday to cut the level of bonds it purchases every month, but extend the length of time that its stimulus program runs. Its purchases will fall to 30 billion euros ($35 billion) from 60 billion euros, starting in January. The central bank said it will extend its monetary stimulus […]
Read moreSen. Bob Corker told CNBC on Thursday his sharp criticism of President Donald Trump‘s fitness for office will “absolutely not” influence his vote on tax reform. The Tennessee Republican described himself as “all in” on the GOP effort to overhaul the tax system, regardless of his feelings on the president’s competence. “This tax reform is […]
Read moreCheck out which companies are making headlines before the bell: Comcast – The NBCUniversal and CNBC parent reported adjusted quarterly profit of 52 cents per share, two cents a share above estimates. Revenue was slightly short of forecasts. The company said it lost 125,000 video customers during the quarter, although it gained 214,000 new high-speed […]
Read moreThe flashing sell signal that isn't, Wall Street bull Tony Dwyer says ignore surging market optimism
It’s often regarded as an ominous trend in the market, but it’s not discouraging one of Wall Street’s biggest bulls. In a new note, Canaccord Genuity’s Tony Dwyer highlights the latest Investors Intelligence Newsletter survey, which finds 62 percent of market newsletter writers are bullish — a historically high number. Even though a high number […]
Read moreFord beat Wall Street expectations Thursday, driven in large part by cost reductions. Here’s how the company did compared to what Wall Street expected: Adjusted EPS: 43 cents vs. 32 cents expected by analysts surveyed by Thomson Reuters. Revenue: $36.5 billion vs. $32.8 billion expected in the Thomson Reuters survey. On a per share basis, […]
Read moreSingapore will conclude its experiment with blockchain technology and its own digital currency next year before deciding whether to commercialize the trial, the country’s regulator has told CNBC. In 2016, the Monetary Authority of Singapore (MAS) announced “Project Ubin,” an exploration of blockchain or distributed ledger technology. The project is split into five phases. The […]
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