The so-called “special relationship” between the U.S. and U.K. was looking decidedly shaky Thursday morning after the U.S. Department of Commerce decided to slap heavy import tariffs on jets partly made in Northern Ireland. U.K. Prime Minister Theresa May hinted that the U.S.’s decision Wednesday to slap import tariffs of 219.6 percent on Bombardier‘s C-Series […]
Read moreAmazon and Apple are not a threat to streaming platform Roku, its CEO told CNBC as the company gears up to begin trading on the Nasdaq on Thursday. Roku aggregates different streaming providers, such as Amazon Video and Netflix, in one platform. It sells hardware that can plug into a television or licenses its software […]
Read moreThe stock market looks expensive and it may not be equipped to handle rising interest rates, according to Yale University fellow Stephen Roach. The former chairman of Morgan Stanley Asia suggests Wall Street has a case of amnesia, and the prognosis is poor for the 8½-year-old rally. “Inflation has all but vanished from the scene. […]
Read moreThe U.S. economy grew a bit faster than previously estimated in the second quarter, recording its quickest pace in more than two years, but the momentum probably slowed in the third quarter as Hurricanes Harvey and Irma temporarily curbed activity. Gross domestic product increased at a 3.1 percent annual rate in the April-June period, the […]
Read moreCurrency, United States Finance
Trump's tax plan will boost GDP, lift stocks and force a Fed rethink, RBC says
Economists at the Royal Bank of Canada gave an optimistic take on tax reform plans unveiled in the U.S., suggesting in its current form it will boost growth and urge investors to rethink the stock markets. “Acknowledging that some key details are still missing, a good baseline is that this tax plan could increase GDP […]
Read moreCheck out which companies are making headlines before the bell: Roku – Roku priced its initial public offering at $14 per share, at the top of the expected range for the maker of streaming video devices. The pricing values the company at about $1.3 billion. Blackberry – The company formerly known best for its iconic […]
Read moreLyft is close to hiring an initial public offering (IPO) advisory firm, in the first concrete step by the second biggest U.S. ride service company to become publicly listed, according to people familiar with the matter. Lyft’s IPO preparations come as its larger competitor, Uber Technologies, is attempting to recover from a range of scandals. […]
Read moreWe haven’t even started third-quarter earnings season, and already the debate focuses on what could be called peak earnings. Is this the top for the cycle of rising earnings that began last year? Not yet, and you can partly thank the renewed prospects for tax cuts. The markets took a leg up to historic highs […]
Read moreHow do you pay for an estimated $5.8 trillion tax cut? For President Donald Trump and Republican congressional leaders, that is the mostly unanswered $5,800,000,000,000 question. The plan they released Wednesday took a first step toward outlining how Republicans propose to cover some of the monumental cost over the next 10 years, mainly by removing […]
Read moreEuropean Union (EU) regulators told CNBC Thursday that it is “premature” to make a decision on whether Google’s attempt to remedy its antitrust violation on its shopping service is sufficient. Google was fined a record 2.4 billion euros ($2.7 billion) in June by the European Commission, the EU’s executive arm. It was accused of abusing […]
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