The Italian government on Sunday made 5.2 billion euros ($5.8 billion) of resources immediately available to keep operative two banks that the European Central Bank has deemed “failing or about to fail,” sending them into insolvency procedures. Premier Paolo Gentiloni defended the swift action by the government as vital for ensuring Italy’s slow economic recovery […]
Read moreJapan’s Takata, the firm at the center of the auto industry’s biggest ever product recall, will file for bankruptcy protection in Japan on Monday with liabilities of more than 1 trillion yen ($9 billion), a source said. The decision came at a special meeting of the air-bag maker’s board, public broadcaster NHK said. The Nikkei […]
Read moreActivist investor Daniel Loeb‘s Third Point LLC on Sunday unveiled a more than 1 percent stake in Switzerland’s Nestle SA and urged the world’s largest packaged foods maker to improve its margins, buy back stock and shed non-core businesses. The stake, worth around 3.28 billion Swiss francs ($3.4 billion), is one of the largest taken […]
Read moreCurrency, United States Finance
Op-Ed: Germans fearing China's world order? Worry about the EU instead
Criticizing what he saw as Washington’s isolationist bent, German Finance Minister Wolfgang Schäuble voiced a concern in a speech earlier this month that the West could be threatened as China (and Russia) might fill the void. That, he feared, “would be the end of our liberal world order.” He also said that the U.S. was […]
Read moreSpaceX achieved history on Sunday with a rocket launch—an act that the CEO of Iridium Communications told CNBC was “critical” to his company’s commercial success. The Falcon 9 rocket belonging to Elon Musk’s SpaceX carried 10 communications satellites into orbit from California, merely two days after the company successfully launched a satellite from Florida. The […]
Read moreBond investors may soon pay a hefty price for being too pessimistic about the economy, according to portfolio manager Joe Zidle. Zidle, who is with Richard Bernstein Advisors, believes the vast amount of money flowing into long-duration bonds is signaling a costly mistake. “Last week alone, there is a 20-year plus treasury bond ETF that […]
Read moreAmazon’s acquisition of specialty grocer Whole Foods is not only about acquiring hundreds of stores and affluent customers — the real value of the deal is in all of that customer data, according to one data expert. Kenneth Sanford, adjunct professor at Boston College, told CNBC recently that one of Amazon’s goals should be to […]
Read moreFacebook's WhatsApp is so huge in India that one app reached 9 million users without spending a dime
Emerging brands in the U.S. count on Facebook to promote themselves online. In India, they also rely on a Facebook service, but one that doesn’t cost them anything—WhatsApp. According to Mary Meeker’s annual internet trends report published last month, WhatsApp is the most popular Android app in India, followed by Facebook Messenger at number two […]
Read moreThe redesigned Honda CR-V stole headlines this year, with the segment king fighting to continue its reign. But quietly, and without the attention of the public, Mazda released one of the best crossovers on the market, the CX-5. It’s easy to forget about Mazda, because it tends to do the same thing over and over. […]
Read moreThe phone rings, pauses, and then a recording on the line says: “Hello! This is Rachel at cardholder services,” or “This is an important notice about your automobile.” If you’re like many Americans, you have probably received a robocall just like these, which have become a scourge for consumers despite increasing efforts to stop them. […]
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