China was one of the few economies globally that grew in 2020 despite the challenges posed by the Covid-19 pandemic. Official data showed the Chinese economy expanding by 2.3% last year, and the International Monetary Fund has forecast an 8.1% growth for China this year. Meanwhile, the U.S. economy contracted […]
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Texas freeze helps rival oil exporters like Saudi Arabia ‘tremendously,’ may influence OPEC decisions
Pump jacks operate in the Permian Basin in Midland, Texas, U.S, on Saturday, Feb. 13, 2021. Matthew Busch | Bloomberg | Getty Images The shock winter storm in Texas that left millions without power and took dozens of lives also froze a major local commodity: the Lone Star state’s oil […]
U.S. partners in Asia may not wait around as Biden prioritizes domestic issues
President Joe Biden speaks to staff of the US State Department during his first visit in Washington, DC, February 4, 2021. Saul Loeb | AFP | Getty Images President Joe Biden’s administration has indicated that trade talks are not high on its agenda for now — but that may be […]
Biden isn’t going to make Saudis a ‘pariah’ despite Khashoggi, says foreign policy expert
Brookings Institute senior fellow Michael O’Hanlon told CNBC’s “The News with Shepard Smith” that President Joe Biden will not make Saudi Arabia “a pariah” because it would imply cutting off the economic and military relationship that the U.S. has with the Saudis. “The world economy still needs that Saudi oil […]
Fisker CEO says the EV startup is trying to do more than just take customers from Tesla
The founder and CEO of Fisker told CNBC on Thursday that the electric-vehicle startup is trying to do more than just swipe market share from Tesla. Henrik Fisker made the comments in an interview on “Mad Money,” one day after his company announced it had inked a key production deal […]
As business travel falls, Airbnb sees opportunity in remote work travel
While business travel has been one casualty of the coronavirus pandemic, Airbnb plans to capitalize on the newfound work-life balance that emerged during the shift to remote work. Airbnb CEO Brian Chesky told CNBC’s Jim Cramer Thursday that the home rental company is seeing signs that consumers are leveraging the […]
Facebook is ‘looking at’ facial recognition technology for upcoming smart glasses, executive confirms
Andrew Bosworth AKA Boz, an advertising expert for Facebook, gives a talk at the Online Marketing Rockstars marketing trade show in Hamburg, Germany, 03 March 2017. Photo: Christian Charisius/dpa | usage worldwide (Photo by Christian Charisius/picture alliance via Getty Images) Christian Charisius | picture alliance | Getty Images Facebook’s head […]
Nvidia CEO confident in company’s growth prospects even if Arm acquisition does not happen
Nvidia CEO Jensen Huang told CNBC on Thursday he was confident in the company’s growth story, even if its potential blockbuster acquisition of British chip designer Arm does not happen. “Nvidia is going to be huge no matter what,” Huang said on “Mad Money,” in response to a question from Jim Cramer, […]
$15 minimum wage not allowed in Biden’s Covid relief bill, Senate official says
A protester attends a rally held by fast food workers and supporters to celebrate the California Labor Commissioner’s order for the company to rehire and compensate workers who went on strike for coronavirus disease (COVID-19) protections, in Los Angeles, California, February 18, 2021. Lucy Nicholson | Reuters Democrats cannot include […]
Twitter CFO says company is confident about strategy to double revenues in two years
Twitter announced on Thursday ambitious goals to double both its user base and revenues over the next two years, milestones its finance chief said he thinks the company is more than capable of meeting. The social media company said it is looking to grow its daily active users to 315 […]