Buy and hold billionaire Ron Baron is defending his investment in Tesla, saying he doesn’t care that he hasn’t made much money from the electric car maker yet. “I think we’re going to make 20 times our money because the opportunity is so enormous,” the 75-year-old founder of Baron Capital told CNBC’s “Squawk Box” on […]
Read moreTrump administration demands in NAFTA trade negotiations meant to push auto jobs back to the United States may not be enough to spark a shift in where automakers build cars and trucks. New math to determine what qualifies as vehicle content, what limits apply to allow tariff-free auto imports and how long companies would have […]
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The yield curve is flatter than it has ever been since before the financial crisis. If it gets any worse, there’ll be lots of talk of a possible recession, says Craig Johnson, chief market technician at Piper Jaffray. He told CNBC’s “Trading Nation” on Friday why this could be a warning sign for markets. The […]
Read moreThe United States is offering assurances to North Korea’s Kim Jong Un as it seeks to put in motion the potential for a sweeping nuclear deal ahead of President Donald Trump’s upcoming summit with the North Korean leader. Secretary of State Mike Pompeo said the U.S. will need to “provide security assurances” to Kim if […]
Read moreFacebook has so far suspended around 200 apps in the first stage of its review into apps that had access to large quantities of user data, in a response to a scandal around political consultancy Cambridge Analytica. The apps were suspended pending a thorough investigation into whether they misused any data, said Ime Archibong, Facebook’s […]
Read moreCurrency, United States Finance
HSBC says it’s made the world's first trade finance transaction using blockchain
HSBC claimed on Monday it had performed the world’s first commercially viable trade finance transaction using blockchain technology. The bank issued a letter of credit for U.S. food and agriculture firm Cargill. The trade finance transaction involved a bulk shipment of soybeans from Argentina to Malaysia. The letter of credit was issued from HSBC to […]
Read moreTwo anti-establishment parties in Italy are set to present details of a coalition agreement Monday, but market participants do not seem substantially worried about the prospect of a populist government. The left-wing Five Star Movement (M5S) and the right-wing Lega are due to meet the country’s president Monday afternoon to outline plans for a new […]
Read moreBritain on Monday awarded defense firm BAE Systems 2.4 billion pounds ($3.26 billion) to work on two submarine program, the company said in a statement. The Ministry of Defense gave BAE a 1.5 billion pound contract for delivery of the seventh Astute class submarine, and a further 900 million pounds for the next phase of […]
Read moreXerox has scrapped a planned $6.1 billion deal with Fujifilm in a settlement with activist investors Carl Icahn and Darwin Deason that also hands control of the U.S. photocopier giant to new management. The victory for the billionaire investors puts the Japanese company further on the back foot in any new negotiations with Xerox, although […]
Read moreThe U.S. should keep its debt-to-GDP (gross domestic product) in mind before things “get out of hand,” Federal Reserve Bank of Cleveland President Loretta Mester said Monday. Asked by CNBC’s Joumanna Bercetche if she was worried about the outlook for rising U.S. debt, Mester was measured but encouraged monitoring the debt level, which is at […]
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