That’s what America has to show for its role as a benevolent banker to the world, hell-bent on a dogmatic pursuit of unfettered free trade in a world where the German-led European Union, Japan and lately China based their economic policies on mercantilist export-driven growth. The U.S. is now stuck on a trade treadmill: This
Tesla‘s now former chief accounting officer, Dave Morton, quit the company after concluding CEO Elon Musk wasn’t interested in accounting details around a potential take-private transaction, according to people familiar with the matter. Morton resigned Sept. 4, according to a company filing released on Friday. Morton said in the filing “the level of public attention
Our national debt keeps growing each day, currently near the $21 trillion mark with no end in sight. The more we wait, the more difficult reducing the debt will be. From George Washington to Bill Clinton, the national debt rose to $5.6 trillion. Under eight years of George W. Bush, the debt increased to $10.6
Tesla shares are extremely overvalued and will drop precipitously, Robert Chapman said Friday. Chapman downplayed concerns over CEO Elon Musk‘s erratic behavior, instead focusing on the carmaker’s financials for his bearish view. “I actually don’t think you should short it on [Musk’s] judgment. I think he is a fascinating businessman, probably the most incredible entrepreneur
FilmMagic | HBO | Getty Images Elon Musk speaks on stage during the Westworld Featured Session during SXSW at Austin Convention Center on March 10, 2018 in Austin, Texas. Short sellers betting against Tesla made more than half a billion off the stock’s slide on Friday. After a bizarre video showing CEO Elon Musk smoking
White House economic advisor Larry Kudlow is extremely optimistic about the U.S. economy. “The economic boom continues,” he said on CNBC’s “Squawk on the Street” Friday, citing the August jobs report and the month’s wage gain data. “It’s the big story of 2018. Jobs, growth, wages. It doesn’t get much better than that.” The August
The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of Constellation Brands David Seaburg was a buyer of Pfizer Dan Nathan was a seller of Taiwan Semiconductor Guy Adami was a buyer of CBS Corp Trader disclosure: On September 6, 2018 the following stocks and commodities mentioned
Kai Pfaffenbach | Reuters A booth of Micron Technology at an industrial fair in Frankfurt, Germany. The dip in Micron’s stock is a great buying opportunity, according to Bank of America Merrill Lynch. The firm reiterated its buy rating for Micron shares, predicting strong financial results for the memory chipmaker. Micron shares declined 9.9 percent
Check out the companies making headlines before the bell: Campbell Soup – Campbell Soup is under increased pressure from investor Daniel Loeb’s Third Point, with the Wall Street Journal reporting that Third Point plans to launch a proxy fight to replace the food company’s entire board. Twitter – Twitter has permanently banned Alex Jones and
The Menlo Park, California-based start-up is known for its zero-fee trading platform that rolled out about three years ago. Robinhood, which is mostly used by millennials age 18-35, also offers ETFs, options and, as of February, cryptocurrency trading. In May, it surpassed its rival E-Trade Financial and has a total of 5 million brokerage accounts.
Nick Cammett | Diamond Images | Getty Images Linebacker Mychal Kendricks of the Cleveland Browns during a preseason game against the New York Giants at MetLife Stadium in East Rutherford, New Jersey, August 8, 2018. Former NFL player Mychal Kendricks faces 25 years in prison after pleading guilty to insider trading on Thursday. The linebacker
Bryan van der Beek | Bloomberg | Getty Images Jamie Forese, President of Citigroup Inc. and head of the institutional clients group, speaks at the Milken Institute Asia Summit in Singapore, on Friday, Sept. 19, 2014. Chief executive officers, senior government officials and leading figures in the global capital markets convened at the global conference’s
Yu Chun Christopher Wong | S3studio | Getty Images A visual representation of the digital Cryptocurrency, Bitcoin, is seen on September 04 2018 in Hong Kong, Hong Kong. Bitcoin prices continued to take a hit on Thursday morning Asia time, following a report that Goldman Sachs was dropping its plans for opening a trading desk for
Check out the companies making headlines after the bell: DocuSign shares dipped more than 3 percent in the extended session despite a better-than-expected quarterly earnings report. The stock later pared much of those losses. The San Francisco-based company reported earnings of 3 cents per share, higher than the 1 cent per share expected by analysts.
Goldman Sachs is dropping its plan to open a trading desk for cryptocurrencies, Business Insider reported Wednesday, as the firm sees the regulatory environment as ambiguous. Bitcoin fell 5.3 percent Wednesday after the report, according to Coinbase data. The Wall Street bank has been considering the launch of a new trading operation focused on bitcoin
Check out the companies making headlines after the bell: RH shares dropped more than 4 percent after initially rising 6.5 percent during after-hours trading following the release of its second-quarter results. RH missed revenues estimates by $20 million, reporting sales of $641 million versus the $661 million expected by Wall Street. However, it beat earnings
A hot topic in policy debates worldwide, gentrification is defined as the process of rebuilding homes and businesses accompanied by an influx of middle-class or affluent people at the expense of earlier, often poorer residents. One big issue is the lack of consistent data to determine the effects of the trend — positive or negative.
Barclays lowered its rating on Verizon’s stock on Tuesday to overweight from equal weight, bringing its rating in line with other telecommunications companies in what Barclays sees as a shrinking industry. “While we like [Verizon’s] near-mid term prospects, we believe valuation will cap upside potential from present levels and therefore downgrade it,” Barclays analyst Kannan
Technology is going to fundamentally transform the banking industry over the coming years, a former Barclays CEO told CNBC on Monday. Antony Jenkins, who led the British bank through a tumultuous period between 2012 and 2015, said regulatory measures imposed in the aftermath of the 2008 financial crisis had made the global financial system safer.
On Aug. 17, Beijing’s Chaoyang District, which includes the central business area, issued a ban on shopping areas, hotels and office buildings hosting promotional events for cryptocurrencies. Chinese news site National Business Daily reported last week that a special economic development zone in the southern city of Guangzhou announced a similar ban. The Chinese government