Expedia CEO Dara Khosrowshahi will officially be Uber’s new chief, the company announced Tuesday evening. The ride-hailing giant’s board of directors chose him to replace ousted chief Travis Kalanick earlier this week. In a message to employees, Uber’s senior management confirmed Khosrowshahi’s appointment. “The Board and the Executive Leadership Team are confident that Dara is […]
Read moreInfosys founder Narayana Murthy on Tuesday defended his role in a months-long war of words with the company’s board that led to changes at the top, saying his actions were in the interest of shareholders. Speaking to investors on a conference call, Murthy said he hoped the company’s management would rally behind Nandan Nilekani, a […]
Read moreThe Trump administration has launched an aggressive drive to renegotiate U.S. trade deals, but one country may manage to stymie major changes: South Korea. President Donald Trump during an April interview with the Washington Post called the U.S.-Korea Free Trade Agreement, known as Korus, a “horrible deal” that has “destroyed” his country, and he threatened […]
Read moreSouth Korea saw two news stories of a very different nature on Tuesday: North Korea launched a ballistic missile that flew over Japan and Ikea planned to open its second store in the country in October. Markets went into a kerfuffle over North Korea’s latest missile launch, which Japan’s Prime Minister Shinzo Abe called an […]
Read moreTraders in Asia shake off North Korea's latest provocation, following stronger lead from Wall Street
Asia markets on Wednesday followed the stronger lead from Wall Street overnight as traders appeared to shake off new North Korea missile concerns. Japan’s Nikkei 225 gained 0.56 percent in early trade. Across the Korean strait, the Kospi edged up 0.05 percent, as tech stocks made gains following Tuesday’s sell off on North Korea’s missile […]
Read moreGoldman Sachs Group will detail plans to turn around performance at its core bond-trading unit next month after unusual pressure from large investors frustrated by vague explanations of its troubles, people familiar with the matter told Reuters. The move is a break from tradition at Wall Street’s pre-eminent bank, which usually gives its investors little […]
Read moreIt’s not breaking news to say retailers, especially those with exposure to the shopping mall, have been hurting of late. But CNBC’s Jim Cramer discovered one group that stood out after earnings. “I’m calling it the BTF club — BTF stands for Better Than Feared,” the “Mad Money” host said. “These companies didn’t necessarily report […]
Read moreRising avocado costs might be squeezing Chipotle’s margins, but John Cappasola, the president and CEO of West Coast chain Del Taco, said his Mexican fast-food chain isn’t feeling the heat. “This is actually a structural advantage for us, the fact that we do it fresh in our restaurants,” Cappasola told CNBC on Tuesday in an […]
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With commodity watchers concerned about the fate of Texas’ oil refineries after Hurricane Harvey, CNBC’s Jim Cramer wanted to nail down the condition of oil itself. So the “Mad Money” host went off the charts with technician Carley Garner, the co-founder of DeCarley Trading and Cramer’s colleague at RealMoney.com with a nearly spotless track record […]
Read moreAs news continues to emerge from Texas after Hurricane Harvey, CNBC’s Jim Cramer noticed investors shifting their focus to several other stock market themes. “First feature of the new normal? America’s not the world’s policeman anymore,” the “Mad Money” host said. “Sure, an attack on Japan is like an attack on us. But if North […]
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