It’s common knowledge that Uber, once touted as the company behind the future of transit, has had a highly publicized fall from grace over the last few months. In April, the company reported losses of $2.8 billion and has seen senior executives leave the company amid claims of sexual harassment and ongoing lawsuits, according to […]
Read moreBillionaire innovator Elon Musk is known for his California rocket and electric car businesses, but he looked to the Midwest to show he is serious about building an ultra-high-speed underground rail system from New York to Washington, D.C. In pursuit of a massive tunnel boring machine to innovate yet again, Musk struck a deal to […]
Read moreCurrency, United States Finance
Investors conflicted as gold prices rise, but Fed and ECB policy outlook weighs
Gold prices may be rising, but the precious metal is failing to attract investors as concerns about policy normalization by central banks weighs on demand and creates a conflicted outlook for the commodity. Demand for gold-based exchange traded funds (ETF) fell 76 percent in the last quarter, according to the World Gold Council’s latest gold […]
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The Dow Jones industrial average is on a tear – surging past 22,000 on Wednesday propelled by strong earnings, but the oldest index component has been the biggest laggard. On the road to Dow 22,000, Boeing, McDonald’s, UnitedHealth and Apple were the biggest contributors, while IBM, Goldman Sachs and GE dragged down the index. While […]
Read moreSam Altman says he doesn’t want to run for office. “I think I have the greatest job in Silicon Valley,” said Altman, the leader of Y Combinator, Silicon Valley’s most prominent start-up incubator. “And I think there are people who will be much better than me at being politicians,” he told CNBC. Instead, Altman is […]
Read moreShares of Teva Pharmaceutical fell more than 18 percent in morning trading Thursday after the company reported lower-than-expected second-quarter earnings. Teva missed estimates for both earnings per share and revenue, and interim CEO Yitzhak Peterburg blamed the poor performance on a saturation of the U.S. generic drug market. “[Teva] experienced … greater competition as a […]
Read moreChina is bracing for a clash with the U.S. when President Donald Trump announces potentially aggressive trade measures against Beijing. White House officials told CNBC the president will make deliver a speech on Friday targeting Chinese intellectual property and trade practices. Here is how people in China are reacting. The official Chinese response has largely […]
Read moreThe Dow Jones industrial average will reach 24,000 by the end of this year if President Donald Trump and the Republicans who control the House and Senate deliver on corporate tax reform, Wharton School finance professor Jeremy Siegel told CNBC on Thursday. “I would love to see personal tax reform and lower those personal rates […]
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Hedge fund managers are set to lose hundreds of millions Thursday because of their bet against Tesla, according to financial technology firm S3 Partners. Tesla shares were up more than 6 percent in premarket trading Thursday following a narrower-than-expected second-quarter loss. The electric car maker led by outspoken CEO Elon Musk is the most heavily […]
Read moreAmazon sellers owing an estimated $2 billion in uncollected sales taxes are being offered the chance to waive those obligations as part of a new multi-state agreement. Thirteen states came together on Wednesday to announce a new sales tax amnesty program for online merchants who sell on Amazon and other sites. For three months starting […]
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