Saudi Arabia has unveiled an enormous new tourism project spanning more than 100 miles of its Red Sea coastline as part of continued efforts to boost the economy and international standing of the Middle Eastern Kingdom. The 13,000 square mile project will see 50 untouched islands transformed into “an exquisite luxury tourism destination”, governed by […]
Read moreAmazon sellers are up in arms over a new returns policy that will make it easier for consumers to send back items at the merchant’s expense. Marketplace sellers who ship products from their home, garage or warehouse — rather than using Amazon’s facilities — were told this week by email that starting Oct. 2, items […]
Read moreA mock-up of the iPhone 8 that BGR.com said it obtained is “99 percent the phone,” the founder and editor-in-chief of Boy Genius Report told CNBC on Wednesday. “Those pictures, while they’re not the real phone — they’re based on designs and molds and engineering samples — I would say that’s 99 percent the phone. […]
Read moreCurrency, United States Finance
US power and influence seen as a major threat by over a third of people worldwide: Study
The power and influence of the U.S. is seen as a major threat by more than one third of people worldwide, according to a report published Tuesday. Research by the Pew Research Center found that 35 percent of people surveyed across 38 different countries said the U.S.’s power and influence posed a big danger to […]
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Bank of England hike talk simmers down with concerns that inflation has peaked
Summer data appear to have given doves a boost ahead of Thursday’s Bank of England (BOE) rate decision, with just 2.5 percent of analysts polled by Reuters expecting a rate rise. Investors seem to be nodding in agreement with market indicators pointing to a mere 8 percent chance of a 25 basis point tightening this […]
Read moreOil hasn’t traded above $70 a barrel in nearly three years, but that could soon change. RBC Capital Markets’ Helima Croft says there’s a very high probability Venezuela’s state oil company will default and bring about a steep jump in crude prices. “I think that’s going to be the biggest geopolitical story to watch in […]
Read moreThe newly-elected French president has sparked a row with Italy over the sale of a shipyard, raising questions over his pro-European credentials. Rome had agreed to buy a majority stake in the French shipyard but President Emmanuel Macron wants shared control. Officials from both countries failed to reach an agreement on Tuesday. But they hope […]
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It’s been a rough few session for one of America’s hottest stocks, and one technical analyst predicts that more downside is ahead. After reporting earnings on Thursday evening that badly missed profits expectations, the online retailer and web services provider saw its shares slide for two straight sessions, closing Monday trading nearly 9 percent below […]
Read moreSpeaking with CNBC’s Josh Lipton after earnings on Tuesday, Apple CEO Tim Cook said he thinks the hype around this iPhone cycle feels different than in previous years. Cook specifically addressed a question about whether or not iPhone sales performance was impacted by hype around a new model, and if the hype and pause in […]
Read moreA new digital currency called “bitcoin cash” (BCC), created by the splitting of the bitcoin blockchain, is rapidly rising in price despite lacking crucial support from parts of the cryptocurrency community. “There’s no infrastructure available out of the box, to support BCC,” warned Fran Strajnar, co-founder and CEO of data and research company Brave New […]
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