Goldman Sachs has downgraded its forecast for oil prices over the next quarter amid a sudden uptick in shale drilling and an unexpected surge in production from Libya and Nigeria. The investment bank now points to a three-month average of $47.50 per barrel for WTI crude, down from its previous estimate of $55.00 a barrel. […]
Read moreNEW YORK — In my review of the first iPhone 10 years ago, I called it a “glitzy wunderkind” and a “prodigy.” The thing about prodigies, no matter how gifted, is they often flame out. For all the hype that surrounded Apple’s prized new device, there was no guarantee in 2007 that it, too, wouldn’t […]
Read moreSerial entrepreneur Elon Musk says his ambitious tunnel-boring endeavor, aptly named The Boring Company, has officially started digging underneath Los Angeles. Musk announced the news on Twitter, where he said “Godot,” the Samuel Beckett-inspired name of the company’s tunnel boring machine, had completed the the first segment of a tunnel in the Southern California metropolis. […]
Read moreA clutch of next-generation leaders are helping chart the future of some of Asia’s wealthiest families and disproving the notion of millennials as the entitled generation. CNBC spoke to four such millennials as part of a panel discussion and found that while some are focused on sparking innovation in their legacy businesses, others weren’t averse […]
Read moreCurrency, United States Finance
UK leader Theresa May is a leader on borrowed time: former chairman of the Conservative Party
U.K. Prime Minister Theresa May is living on borrowed time, according to the former governor of Hong Kong. On Monday, Theresa May’s Conservative Party signed a deal with Northern Ireland’s Democratic Unionist Party (DUP). The deal promised the ruling minority Conservative government the support of the 10 DUP politicians in upcoming votes. In exchange, the […]
Read moreDALIAN, China — Despite many risks and challenges facing the world’s second-largest economy, views on China were largely optimistic at the World Economic Forum meeting here in Dalian. The positivity may have seemed incongruous with the perennial spate of doomsaying headlines, but the line held strong throughout “Summer Davos.” During the three-day gathering — named […]
Read moreChinese bike-sharing unicorn Mobike is currently more interested in expanding its market share than making a profit, the company’s founder said on Thursday. Hu Weiwei, who is also president of Beijing Mobike Technology, the company behind the bike-sharing service, said the business was looking to move into new markets, both within and outside China. “If […]
Read moreAs we race toward the fourth industrial revolution there will inevitably be tensions between public, private and individual interests. But these should be challenged, rather than shied away from, to minimize displacement, panelists at the World Economic Forum’s “Summer Davos” agreed on Thursday. “The tension between the private sector and the public sector and civil […]
Read moreChina‘s rise has made some cautious, but its stability is providing greater confidence to the world, popular television personality Jin Xing said Thursday. “Look at it this way, (the) whole world is shaking at this moment,” Jin said on the sidelines of the World Economic Forum’s meeting in Dalian, China, pointing to political and economic […]
Read moreIn the aftermath of Britain’s departure from the European Union and the U.S.’s withdrawal from the Paris climate pact, the bloc’s remaining members must take greater responsibility for “existential” challenges the world faces, German Chancellor Angela Merkel said. “We are convinced that climate change is one of the greatest challenges facing humanity, an existential challenge,” […]
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