Four mutual fund companies have marked down their investments in Uber Technologies by as much as 15 percent following the ride-hailing company’s scandal-ridden year, the Wall Street Journal reported on Tuesday. Three of the investors, Vanguard Group, Principal Funds and Hartford Funds, all marked down their shares by 15 percent to $41.46 a share for […]
Read moreCurrency, United States Finance
Germany is trying to stop China from gobbling up its companies — but there may be a downside
Think of Germany and it isn’t long before visions of bustling business districts and thriving manufacturing plants spring to mind. It isn’t surprising: it’s these industries that have elevated the country to rank among the world’s leading economies. But increasingly they have also become the subject of political power play with one of Germany’s biggest […]
Read moreChina’s yuan has been on a tear this year, but experts are predicting the run may be over — and it may even be poised for a downturn. The yuan’s rise has quickened in August, pushing year-to-date gains against the dollar to 4 percent. Thus far, the currency has recovered a good part of last […]
Read moreThe safe-haven Japanese yen and gold gained ground after President Donald Trump threatened a government shutdown if he doesn’t get funding for a proposed border wall with Mexico. “If we have to close down our government, we’re building that wall,” Trump said at a rally in Arizona. That sent the safe-haven yen higher, with the […]
Read moreWal-Mart is about to encroach even further on to Amazon‘s turf. The big-box retailer will soon offer customers the ability to order hundreds of thousands of its products by voice with the help of Google. The partnership is another critical step as Wal-Mart looks to advance its e-commerce operations and stay competitive with Amazon and […]
Read moreThe White House isn’t afraid of angering potential partners in its quest to pressure North Korean leader Kim Jong Un into denuclearization, experts said. The Treasury Department on Tuesday announced new penalties against 10 entities and six individuals, mostly Chinese and Russian, for providing support to North Korea in ways that aided the rogue state’s […]
Read moreSalesforce has struck a number of partnership deals with Amazon Web Services over the past year, suddenly becoming a close ally of Amazon’s cloud arm. That relationship is starting to bear fruit, Salesforce says, as it’s helping solve one glaring weakness in the cloud software maker’s business: overseas sales. Salesforce said during its earnings call […]
Read moreSAN FRANCISCO — As new employees were brought into Apple‘s secret effort to create a self-driving car a few years ago, managers told them that they were working on the company’s next big thing: A product that would take on Detroit and disrupt the automobile industry. These days, Apple’s automotive ambitions are more modest. The […]
Read moreWall Street gained and the dollar found some reprieve overnight as risk aversion faded ahead of the Wednesday’s Asian trading session. The moves were attributed to talk that the Trump administration was moving ahead with its tax reform policy proposals. President Donald Trump’s aides and congressional leaders were reportedly in broad agreement over how corporate […]
Read moreAfter oil giant BHP Billiton sold off the rest of its U.S. shale holdings, CNBC’s Jim Cramer did not shy away from the massive impact he thought it would have on the overall industry. “From our point of view, is that these held-for-sale oil and gas assets will be the determinant of the entire pricing […]
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