North Korean leader Kim Jong Un arrived in Beijing on Tuesday, where he will likely brief Chinese President Xi Jinping on his summit with U.S. President Donald Trump last week, as Washington and Seoul agreed to suspend a major joint military exercise. This is Kim’s third trip to China this year, coming a week after […]
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'Belligerent' US trade stance could hurt America's iconic companies the most, Jim O'Neill says
America’s biggest and most iconic companies will be the ones to suffer if the U.S. plows ahead with trade tariffs on China, renowned economist Jim O’Neill told CNBC on Tuesday. “I often say to people that America’s most iconic modern company, Apple, has for three years sold more iPhones to Greater China than it has […]
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Irish central banker says it's too early for the ECB to discuss future rate hikes
The European Central Bank (ECB) is not yet in a position to discuss its future rate hike path, the governor of the Irish central bank, Philip Lane, told CNBC Tuesday. The ECB decided last week to put an end to its massive stimulus program this coming December. The bank also indicated that it is unlikely […]
Read moreEvery currency in the world — from the U.S. dollar to the Chinese yuan — will have its own cryptocurrency version, the CEO of fintech firm Circle said. “Our view is that all fiat currency will be crypto,” Jeremy Allaire, who co-founded Circle in 2013, told CNBC in an interview on Monday. “It seems inevitable […]
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Abu Dhabi Financial Group unit offers to buy Abraaj's investment management arm
A unit of Abu Dhabi Financial Group has made a conditional offer to buy private equity firm Abraaj’s investment management business for $50 million, according to a document reviewed by Reuters. The offer from Abu Dhabi Capital Management (ADCM) is well below the $125 million offered by New York-based private equity firm Cerberus Capital Management […]
Read moreThe operator behind the Beijing subway system is considering introducing face scanning and other so-called biometric technology which could be used to pay for a ticket, China Daily reported on Tuesday, but the move also raises concerns over surveillance. Facial recognition and a system for scanning people’s palms could be introduced on the Beijing train […]
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Roche agrees to pay $2.4 billion to buy the rest of Foundation Medicine
Swiss drugmaker Roche Holding AG has agreed to pay $137 per share to buy the rest of Foundation Medicine (FMI), a $2.4 billion transaction that values the U.S. genomic profiling groupat $5.3 billion, the partners said on Tuesday. The deal, backed by the boards of both companies, is set to close in the second half […]
Read moreShares of flea market app operator Mercari surged on their debut on the Tokyo Stock Exchange’s Mothers market on Tuesday. Mercari’s stock was up 74 percent at 5,230 yen ($47.68) per share as of 1:43 p.m. HK/SIN. Shares had risen as much as 100 percent earlier in the session. The company had priced its initial […]
Read moreEuropean stocks are due to open significantly lower Tuesday as investors worry that the U.S. and China are getting closer to a trade war. The FTSE 100 is seen off by 32 points at 7,597; the DAX in Germany is set to open lower by 114 points at 12,721; and the CAC 40 is seen […]
Read moreChina’s central bank on Tuesday lent 200 billion yuan ($31 billion) to financial institutions via its medium-term lending facility (MLF), highlighting concerns over liquidity and potential economic drag from a trade war with the United States. The surprise injection of funds came just hours after U.S. President Donald Trump escalated the tit-for-tat trade scrap with […]
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