The Treasury unveiled new sanctions on Thursday in response to North Korea’s weapons program and its disregard for UN Security Council resolutions. Treasury Secretary Steven Mnuchin said in a statement that the department is “committed to protecting the U.S. financial system from North Korean abuse and maximizing pressure on the Government of North Korea until […]
Read moreNow that Citigroup has aced the Federal Reserve’s latest stress test, it needs a strategy. The $188 billion U.S. bank doubled its dividend and boosted its share buyback by $15.6 billion after clearing the exam. Chief Executive Mike Corbat has been understandably laser-focused on returning capital and appeasing watchdogs, objectives that eluded his predecessor and […]
Read moreChinese e-commerce giant Alibaba is working on a Chinese-language device to rival Amazon’s Echo, according to a report published Thursday by The Information. The device could come as early as next week, people familiar with the matter told The Information. The device could potentially understand Chinese voice commands and, like the Echo, allow Alibaba’s core […]
Read moreCarson Block is short Prothena, predicting one of its key drugs will not be effective. Block is chief investment officer of activist investment firm Muddy Waters Capital. He is known for his short selling research, which led to several government fraud investigations and financial restatements. “We are short PRTA. The publicly-available data, in our opinion, […]
Read moreThursday marks the 10th anniversary of the day Apple released the very first iPhone. CNBC already covered a bit of how the iPhone has changed since the original launched, but we also wanted to take a trip down memory lane. Here’s a list of every single iPhone Apple has launched since the original made its […]
Read moreBitcoin skeptic Mark Cuban is looking to take part in one of the hottest trends in the digital currency world right now: the initial coin offering. One of the companies Cuban is invested in, Unikrn, is planning its own offering, and digital currency news site CoinDesk said Thursday that the billionaire entrepreneur intends to participate. […]
Read moreElon Musk is on a roll. On the weekend of June 23, his company SpaceX successfully completed two back-to-back rocket ship launches. Then on Wednesday, Musk announced The Boring Company, the infrastructure business he founded in 2016, has completed the first leg of its dig to create a tunnel underneath Los Angeles. He shared his […]
Read moreGoldman Sachs on Thursday issued a mea culpa of sorts, releasing a research note explaining how it misread the crude oil market, after the bank significantly lowered its price forecast. In light of the recent downturn in oil prices, the investment bank was forced to revise its forecast for U.S. crude to average $55 per […]
Read moreProminent Silicon Valley investor Peter Thiel spent just 12 days in New Zealand over the course of five years before the country allowed him to become a citizen, according to documents the country’s government released on Wednesday. Thiel, who was born in Germany and has citizenship there and in the U.S., petitioned for New Zealand […]
Read moreAlibaba founder Jack Ma has mixed feelings about the future. On the one hand, he is concerned about the number of jobs automation will take from humans. He predicts that the next 30 years will be “painful” for many. But, he adds, for those who can adapt to the demands of the changing labor market […]
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