Every December for the past 13 years Art Cashin and his “friends of fermentation” have gathered at the front bar at Bobby Van’s Steakhouse across from the NYSE to celebrate the holidays, and we’ve used the opportunity to get Art’s take on the year ahead. We weren’t able to meet […]
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Satellite-to-smartphone broadband company AST & Science to go public through a SPAC
AST’s corporate headquarters and high-volume manufacturing facility in Midland, Texas AST & Science Special purpose acquisition company New Providence will take next-generation satellite broadband specialist AST & Science public through a SPAC deal that gives the space company an equity value of $1.8 billion, the firm announced on Wednesday. AST […]
McConnell and Schumer say they hope to strike a Covid aid deal ‘soon’
The top four congressional leaders appeared to make progress during Tuesday meetings toward funding the government and sending another round of coronavirus relief, as millions of struggling Americans await help. House Speaker Nancy Pelosi, D-Calif., called the discussions with Senate Majority Leader Mitch McConnell, R-Ky., Senate Minority Leader Chuck Schumer, […]
Refinance demand jumps 105% annually, as mortgage rates set 15th record low of 2020
In this Friday, Sept. 21, 2012, photo,a home is for sale in Oklahoma City. Average U.S. rates on fixed mortgages fell again to new record lows. The decline suggests the Federal Reserve’s stimulus efforts may be having an impact on mortgage rates. Mortgage buyer Freddie Mac said Thursday, Sept. 27, […]
Facebook criticizes Apple as it welcomes Europe’s new tech rules
The Facebook app is displayed on the screen of an iPhone. Fabian Sommer | picture alliance | Getty Images LONDON — Facebook accused Apple of using its power to “harm developers and consumers” as it welcomed draft laws outlined by the European Commission, the executive arm of the EU. The […]
U.S. shale should be worried about ‘very aggressive’ policies coming from Washington, energy secretary says
American shale producers are likely being kept up at night over what could be in store for their industry over the next four years, if pledges made by some lawmakers in Congress and President-elect Joe Biden are anything to go by. U.S. Energy Secretary Dan Brouillette seems to think so. […]
Nobel laureate says if we fail children in the pandemic recovery, we fail them forever
Kailash Satyarthi, guest of honour, speaks to attendees during The International Children’s Peace Prize on November 20, 2019 in The Hague, Netherlands. Nacho Calonge/Getty Images Nobel Peace Prize winner Kailash Satyarthi said there needs to be a “sense of urgency” in working toward the end of child labor globally, speaking […]
British pound jumps as EU reports more progress on Brexit trade deal
Britain’s Prime Minister Boris Johnson attends a virtual press conference inside 10 Downing Street in central London on Nov. 26, 2020. Jamie Lorriman | AFP | Getty Images Sterling broke through the long-awaited $1.35 barrier on Wednesday morning after European Commission President Ursula von der Leyen said progress had been […]
Chinese chipmaker SMIC falls 5% as co-CEO plans to resign and it faces removal from MSCI indexes
A close up image of a CPU socket and motherboard laying on the table. Narumon Bowonkitwanchai | Moment | Getty Images China has been on a drive to become more self-reliant in semiconductors, a move that has accelerated in the past few years as tensions with the U.S. rose. SMIC […]
Managers that use A.I. ‘will replace those that do not,’ IBM executive says
Much has been made of the potential for people to lose their jobs to machines but, according to a senior tech executive, it’s all about having employees use artificial intelligence themselves. “AI is not going to replace managers but managers that use AI will replace those that do not,” Rob […]