Britain’s markets watchdog will press ahead with a new premium listing next month aimed at attracting companies like state-controlled Saudi Aramco to London, although the rules have been “refined” following investor criticism. The Financial Conduct Authority’s initial proposal last year led to suggestions the British government had influenced the watchdog to try to secure the […]
Read moreCheck out which companies are making headlines before the bell: Verizon – Verizon named chief technology officer Hans Vestberg as its new CEO effective August 1, replacing Lowell McAdam, who will remain as executive chairman through the end of the year. Vestberg is the former CEO of Sweden’s Ericsson. Facebook – Facebook said a software […]
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Some Brexit ministers are not acting in good faith, UK lawmaker warns
Brexit negotiations have been dragging for months because the British government is not focused on what really matters, a U.K. lawmaker told CNBC on Friday. The process that will take the U.K. out of the European Union (EU) remains far from complete. The U.K. has still not outlined in precise terms how it intends to […]
Read moreToday’s G-7 meeting in Quebec is likely to be overshadowed by President Donald Trump’s decision to press ahead with tariffs on U.S. allies. Shortly after Trump announced the tariffs, U.S. allies quickly announced retaliatory measures. (CNBC) * Trump to leave summit early amid feud (USA Today)* Trump lashes out at allies after France threatens to […]
Read moreEmerging market stocks are sinking, and one portfolio manager is urging more caution. Chad Morganlander, portfolio manager at Washington Crossing Advisors, told CNBC’s “Trading Nation” that emerging markets could fall further. Here’s why. • One large emerging markets-tracking ETF, the EEM, has fallen 1.5 percent this year amid a gradually strengthening U.S. dollar and concerns […]
Read moreApple shares fell 2 percent in U.S. premarket trading on Friday, after a report said the firm told its supply chain to make 20 percent fewer parts for iPhones in the second half of 2018. The Nikkei newspaper, citing unnamed industry sources, reported that Apple was placing less orders as it is taking a “cautious” […]
Read moreSmall states in the eastern hemisphere are at risk of being dragged into the orbit of either China or India, a former Asian president said Friday. But Mohamed Waheed Hassan, who led the Maldives in 2012 and 2013, added that there’s an area the region’s superpowers and its smaller nations could easily work together on. […]
Read moreThe chairman of ZTE apologized to staff and customers on Friday after the Chinese technology firm agreed to pay a $1 billion fine to the United States to end a ban that has crippled key businesses, including smartphones. The ban, which traces back to a breach of the U.S. embargo on trade with Iran, had […]
Read moreAllianz Technology Trust (ATT) doesn’t hold heavy positions in many FAANG stocks, senior portfolio manager Walter Price told CNBC on Friday, partly because he prefers opportunities elsewhere, but also because he doesn’t see massive growth ahead. FAANG refers to a basket of high-technology growth stocks — Facebook, Amazon, Apple, Netflix and Google — that have […]
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Swiss vote on how to create money is challenging for bankers, economist says
Switzerland’s upcoming vote on how to create money is intellectually challenging for the traditional banking system, an economist told CNBC on Friday. The wealthy nation is due to vote Sunday on whether it should have a so-called sovereign money system — meaning the central bank would be the only provider of Swiss francs. In other […]
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