Bitcoin fell by another $300 on Tuesday after the fallout of a Chinese ban on cryptocurrency crowdfunding methods saw the price of the digital coin slump earlier this week. The virtual currency fell from $4,584 to $4,350 on Monday following the announcement of a regulatory clampdown on initial coin offerings (ICOs). Many start-ups rely on […]
Read moreAfter eight solid months for the market, the odds are no longer in investors’ favor, according to Doug Gordon, senior portfolio manager at Russell Investments. “I think there’s some asymmetry here,” Gordon said Friday on CNBC’s “Trading Nation.” “Certainly the upside isn’t equal to the potential for downside, when we look at it in a […]
Read moreWestern Digital has offered to drop out of a bid for Toshiba’s lucrative semiconductor business in return for a stronger position in the two companies’ chip joint venture, two sources said on Tuesday. Toshiba needs to sell the chip unit to plug a giant hole in its finances caused by the failure of the conglomerate’s […]
Read moreHurricane Harvey devastated Texas, but it could bring some fiscal order to Washington where Republicans and Democrats will need to put political differences aside in order to approve spending to repair the damage from flooding in and around Houston. Lawmakers returning to Washington after a month-long break are expected to swiftly agree to an initial […]
Read moreGerman Chancellor Angela Merkel has urgently called for more sanctions over North Korea. In a parliamentary address Tuesday, Merkel said she would meet with European Union (EU) foreign ministers this weekend to discuss ramping up sanctions against the rogue state, which launched its latest and most powerful nuclear test on Sunday. “North Korea’s nuclear tests […]
Read moreThe odds were stacked against them, at more than 300 to 1. But in a property market as hot as Hong Kong’s that wasn’t enough to stop some 1,300 home seekers queuing for a chance to get their hands on just four flats in Parc City, Tsuen Wan. And according to estate agents, about 1,000 […]
Read moreDespite the buzz around electric vehicles, the chairman of Japanese car maker Toyota is skeptical that consumers will embrace such cars immediately, given current limitations in battery technology. The remarks by Takeshi Uchiyamada, told to CNBC in an exclusive interview, mark a departure from the sentiment of several players in an industry that’s trying to […]
Read moreCurrency, United States Finance
Sean Spicer ‘candor’ to grace speaking circuit in post-White House gig
President Donald Trump‘s memorable first press secretary, Sean Spicer, has reportedly become the latest White House departee to join the paid speaking circuit. Spicer, who resigned from the West Wing in July but served his last official day on August 31, has signed with Worldwide Speakers Group, the company confirmed to Politico Tuesday. In a […]
Read moreBritain’s Aveva Group said on Tuesday it had agreed to combine with Schneider Electric‘s software business to create a London-listed leader in industrial software worth more than 3 billion pounds ($3.88 billion). France’s Schneider will take a 60 percent stake in the enlarged group under the terms of the deal, which is structured as a […]
Read moreCurrency, United States Finance
Merkel still the 'right person' to protect the European idea, senior advisor says
German Chancellor Angela Merkel is the “right person” to protect the European project throughout Brexit negotiations, a key political ally told CNBC. “(Merkel) wants to work together with (French President Emmanuel) Macron but also with all others in Europe who want to safeguard the European idea because at the moment we do have a problem […]
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