David Solomon, chief executive officer of Goldman Sachs Group Tiffany Hagler-Geard | Bloomberg | Getty Images Goldman Sachs may suffer hits to third quarter results as stakes in once-hot unicorns slammed into the reality of public markets. The bank’s holdings in WeWork, the co-working company whose valuation plunged after its […]
CNBC News
Mnuchin says libra backers dropped out because project is ‘not ready’ to meet standards
Secretary of the Treasury Steven Mnuchin answers questions from the press after an interview on CNBC on the North Lawn of the White House in Washington, September 12, 2019. REUTERS/Sarah Silbiger. Sarah Silbiger | Reuters After five corporate backers of Facebook’s libra cryptocurrency dropped out of the project, Treasury Secretary […]
Bernie Sanders unveils plan to raise corporate tax rate to 35% and ban stock buybacks
Vermont senator and presidential candidate Bernie Sanders campaigns at the University of New Hampshire in Durham. Preston Ehrler | SOPA Images | LightRocket | Getty Images Democratic presidential hopeful Bernie Sanders introduced a plan on Monday that would reverse President Donald Trump’s tax cuts for businesses and return the corporate […]
Vague US-China deal fails to ‘clear the air’ for companies to start spending and investing again
While President Donald Trump says he has a trade deal in place, the Chinese side is calling it progress – as corporate spending and investment hangs in the balance. Wall Street analysts were largely skeptical of Trump’s announcement on Friday of a substantial trade deal, as Evercore ISI strategists noted […]
Mnuchin says China and the US have a ‘fundamental agreement’ that is ‘subject to documentation’
Treasury Secretary Steven Mnuchin expressed optimism Monday that the U.S. and China have a workable first-phase agreement that addresses some key elements of the trade dispute between the two nations. “We made substantial progress last week in the negotiations,” Mnuchin said during an interview with CNBC’s “Squawk Box.” “We have […]
China wants another round of talks before signing phase one of the trade deal, source says
Chinese President Xi Jinping (R) and US President Donald Trump at the Great Hall of the People in Beijing on November 9, 2017. Nicholas Asfouri | AFP | Getty Images China wants to have another round of talks with the U.S. before signing what President Donald Trump called last week […]
Stocks making the biggest moves premarket: Boeing, Facebook, Nike, Lyft, Kohl’s, GM & more
Check out the companies making headlines before the bell: Boeing – Chief Executive Officer Dennis Muilenburg was stripped of his chairman’s title, in a move the company said was designed to allow Muilenburg to focus on returning the grounded 737 Max jet to service. Facebook – Facebook’s planned libra cryptocurrency […]
Nobel Economics Prize for 2019 awarded to Abhijit Banerjee, Esther Duflo and Michael Kremer
JONATHAN NACKSTRAND/AFP via Getty Images Economists Abhijit Banerjee, Esther Duflo and Michael Kremer won the 2019 Nobel Economics Prize for creating an experimental approach to alleviating global poverty, the Royal Swedish Academy of Sciences said on Monday. “This year’s Laureates have introduced a new approach to obtaining reliable answers about […]
Amid trade war, China moves to remove limits on foreign ownership in the financial industry
SHANGHAI, CHINA – FEBRUARY 23: The Chinese flag floats before the skyscrapers of multinational corporations on February 23, 2018 in Shanghai, China. Vincent Isore/IP3 | Getty Images BEIJING — China is pressing ahead with opening up its financial industry to foreign ownership amid worries that the U.S. and China could […]
WTO formally backs US tariffs on EU goods
GENEVA — The United States has cleared the final procedural hurdle in order to impose tariffs on billions of dollars of European products later this month, at a meeting of the WTO’s (World Trade Organization) governing body on Monday. The administration of President Donald Trump no longer faces any legal […]