After three years of huge losses, a large exchange-traded fund tracking Spanish stocks, the iShares MSCI Spain Capped ETF, has risen 23 percent this year. With the European economic outlook strengthening, some strategists see further gains in the exchange-traded fund. The market-weighted fund, heavily skewed toward the financial sector, covers the top 85 percent of […]
Read moreShares in Russian business conglomerate Sistema slumped by as much as 17 percent early on Tuesday, after a Russian court froze some of its assets as part of a legal dispute with oil company Rosneft. Rosneft is suing Sistema for 170.6 billion roubles ($2.9 billion) in damages following its purchase of oil producer Bashneft last […]
Read moreMerck said Tuesday its cholesterol drug Anacetrapib met its primary goal in a study, significantly reducing coronary heart disease. Shares of the pharmaceutical company spiked more than 3 percent in premarket trade and were last trading about 1.6 percent higher. Results of the study on 30,000 individuals will be presented on Aug. 29 at a […]
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Some FANG stocks are still undervalued, says Salesforce CEO Marc Benioff
Salesforce Chief Executive Marc Benioff told CNBC on Tuesday that despite an unprecedented rally among high-growth technology giants, some FANG stocks still remain undervalued. The so-called FANG technology stocks refer to Facebook, Amazon, Netflix and Google (through parent company Alphabet). Some investors also recognize Apple as an additional ‘A’ to the FANG acronym. “I think […]
Read moreThe summer doldrums appear to have hit stocks, but one trader has a way to play the slow, quiet market. While the S&P 500-tracking ETF (SPY) has moved into a “June consolidation,” Todd Gordon of TradingAnalysis.com believes that SPY can still break out of its trading range to move higher. But low implied volatility in […]
Read moreU.S. Commerce Secretary Wilbur Ross has at the last minute pulled out of a trip to Germany on Tuesday, the German economy ministry said, not giving a reason for the cancellation which comes at a time of friction with Washington over trade policy. He had been due to meet German Economy Minister Brigitte Zypries and […]
Read moreDALIAN, China — China kicked off the World Economic Forum’s annual summer meeting with a much-anticipated speech by Premier Li Keqiang, which offered a rare glimpse into what authorities are thinking about the world’s second-largest economy. But what China’s second-most powerful man didn’t say was just as important as what he did. Li’s Tuesday speech […]
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Uber scandal will not be the last crisis of equality for tech industry, says Salesforce CEO
Uber’s tumultuous six months of scandal is likely to mark the first of many equality crises in the tech industry, according to Salesforce Chief Executive Marc Benioff. Speaking on the sidelines of the World Economic Forum in Dalian, China, Benioff warned that tech giants would need to take their capabilities to another level in order […]
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Ex-Italian Prime Minister Berlusconi ‘absolutely not’ making a comeback despite local election success, says Five-Star Movement
Italy’s convicted former Prime Minister Silvio Berlusconi may have regained public favour at a local level but he is “absolutely not” in line to make a return to frontline politics, Carla Ruocco of opposition party Five-Star Movement told CNBC. Berlusconi, who has served four terms as Prime Minister but was banned from office amid tax […]
Read moreDALIAN, China — Technology is transforming the world, but if businesses and governments aren’t careful, innovation could hurt society by exacerbating inequality, rather than making lives better. That was the message from global business leaders Tuesday in Dalian, China, as the emphasis lay squarely on cutting-edge creations that benefit everyone. The event, the World Economic […]
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