Investors should be prepared for a “nasty” market correction in two months’ time as central banks appear set to stick with low interest rates for longer than expected, a former prominent Credit Suisse research head told CNBC on Monday. “I think earnings are OK, I think the economy is OK but I think interest rates […]
Read moreMost young people will be doing jobs in the future that currently do not exist, a top executive from one of the world’s largest recruitment agencies has told CNBC. Mark Cahill, the U.K. managing director at Manpower, told CNBC that as much as 65 percent of the jobs that the next generation of workers will […]
Read moreSamsung Electronics Vice Chairman Jay Y. Lee fought back tears and denied wrongdoing on Monday as prosecutors sought a 12-year jail term on charges that include bribing the former president to help cement control of the South Korean tech giant. Lee, the de facto leader of one of Asia’s largest conglomerates, has been in detention […]
Read moreCurrency, United States Finance
People in the UK will soon be able to get social media giants to delete their embarrassing posts
British consumers will be able to request that their data is erased and to ask social media giants like Facebook to delete embarrassing posts under new data protection legislation. The law, which will enshrine the European Union’s General Data Protection Rule (GDPR), is intended to give the public more control over what happens with their […]
Read moreJapan’s SoftBank Group Corp on Monday reported a 50.1 percent rise in first-quarter operating profit, after the company included Vision Fund, the world’s largest private equity fund, as a new reportable segment and booked a valuation gain. The internet and telecoms giant said profit for the quarter through June increased to 479.2 billion yen ($4.33 […]
Read moreNorth Korea denounced the United Nations’ latest sanctions imposed on the isolated state, saying they infringe on its sovereignty and vowed to take “righteous action”, the North’s official news agency said. The government statement reiterated Pyongyang’s previous stance that it will never place its nuclear program on the negotiating table as long as the United […]
Read moreDeutsche Bank is no longer one of the world’s top 15 private banks after a difficult year for the German lender, a study by Scorpio Partnership showed Monday. The bank saw its private banking arm getting less revenue in 2016 – a drop of 28 percent in dollar terms to $227 billion compared to the […]
Read moreShort sellers are increasingly targeting Hong Kong-listed Chinese companies they allege have committed accounting tricks, market manipulation and fraud. And that’s despite mounting hostility faced by investors who bet against stocks. This year, there have been nine campaigns by short sellers against Hong Kong-listed companies as of mid-July, a record for the period, according to […]
Read moreTaiwan’s Foxconn, one of Apple’s primary iPhone makers, will open a multibillion-dollar research and development plant in Michigan, the South China Morning Post reported on Sunday. That makes the second politically critical state to receive such a commitment from the multinational — which is sure to be seen by many as a gargantuan political success […]
Read moreA company linked to U.S. President Donald Trump has been granted approval from the Chinese territory of Macau for additional trademarks, including casino services, to develop the “Trump” brand in the world’s biggest gambling center. DTTM Operations LLC, which listed the address of Trump Tower on Fifth Avenue in New York, received four trademark approvals […]
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