Lowe’s stock is set to pop 20 percent in the next year as America’s obsession with homes swells under Republican tax cuts, according to one Wall Street bank. Shares of the home improvement company rose 0.9 percent after Bernstein upgraded the stock to outperform from underperform, set to add to a 42 percent climb over […]
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President Donald Trump pledged to revive the coal industry and put miners back to work, but one year into his first term, there’s been little change in the beleaguered industry. Coal production is up slightly and exports were a highlight in 2017, but coal-fired power plants are still closing. The best that can be said […]
Read moreCurrency, United States Finance
US tax system overhaul likely to boost InterContinental Hotels and the global economy: CEO
The overhaul of the U.S. tax system has allowed one of the world’s most prominent hotel groups to expand into new territories, the chief executive of InterContinental Hotels Group (IHG) said Monday. Speaking to CNBC on the sidelines of the World Economic Forum (WEF) in Davos, Switzerland, Keith Barr said the changes to the U.S. […]
Read moreTencent Holdings, China’s biggest internet company by market value, is on a collision course with Apple and Alphabet with its aggressive push into mini mobile applications, which allow users to bypass traditional app stores and run programs directly within its WeChat application. Tencent has re-engineered the WeChat messaging app in a way that applications smaller […]
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Bitcoin and other major digital currencies dropped sharply Monday morning. Bitcoin briefly tumbled to a low near $10,376 on Coinbase around 9 a.m., ET, marking a loss of more than 11 percent over the last 24 hours. Bitcoin traded near $10,720 as of 9:24 a.m., ET, on Coinbase, the leading U.S. marketplace for buying and […]
Read moreHulu and YouTube both launched live streaming services last year to take on big cable companies with packages of online TV channels. It’s still early, but they’re making some progress, according to numbers revealed to CNBC. Hulu’s live offering has about 450,000 paying subscribers, not including recent promotional customers, according to people familiar with the […]
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IMF says tax overhaul will help boost US and global growth … for now
The International Monetary Fund (IMF) has revised global growth forecasts for 2018 and 2019 upwards, saying the revision is partly down to the recently approved overhaul of the U.S. tax system under President Donald Trump. Global growth forecasts for 2018 and 2019 have both been revised upward by 0.2 percentage points to 3.9 percent. “The […]
Read moreGeneral Electric shares continued to plumb new depths after Bank of America Merrill Lynch downgraded the troubled bellwether on Monday. Shares fell 1 percent in premarket trading, approaching just $16 a share. The stock fell to a six-year low on Friday below $17 a share after GE said earlier in the week it would take […]
Read moreFacebook warned on Monday that it could offer no assurance that social media was on balance good for democracy, but the company said it was trying what it could to stop alleged meddling in elections by Russia or anyone else. The sharing of false or misleading headlines on social media has become a global issue, […]
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The U.S. government shut down on Saturday, and that could spell trouble for investors this week, history shows. CNBC analysis using Kensho found that the S&P 500 fell an average of 0.3 percent one week after the government closed its doors. The benchmark index also traded positive just 40 percent of the time one week […]
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