One of the FANG stocks is not like the others this month. While Facebook, Amazon and Netflix have slumped, Google parent Alphabet has soared. The tech giant is also the only FANG stock that’s positive this quarter. Despite Alphabet’s outperformance, Mark Tepper, president of Strategic Wealth Partners, is sticking with another FANG […]
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Massive fire at Saudi high-speed train station injures at least five
A fire broke out in the Haramain high-speed rail station in Saudi Arabia’s coastal city of Jeddah, injuring at least five people, authorities said on Sunday. The fire, which caused plumes of black smoke to rise from the roof of the station after fire erupted at 12:35 p.m. (0935 GMT), […]
CVS suspends sales of Zantac brand and generic heartburn drug during safety review
Zantac tablets Source: Wikipedia CVS Health said on Saturday it will discontinue sales the popular Zantac heartburn treatment and its own generic ranitidine products from its pharmacies after traces of a known carcinogen were found in some of the products by the U.S. Food and Drug Administration. The FDA said […]
China’s giant middle class is still growing and companies from Walmart to start-ups want to cash in
Walmart has three Sam’s Clubs in Beijing, including this one in Daxing District. The company plans to open five more in the capital city. Evelyn Cheng | CNBC BEIJING — Some are trying to create characters as memorable as Mickey Mouse. Others are launching lessons on how to cook steak. […]
ECB’s Draghi backs France’s calls for further euro integration
The outgoing president of the European Central Bank (ECB) has called on euro countries to commit to further integration – in what’s a controversial and dividing topic among the 19 nations. In an interview with the Financial Times over the weekend, ECB President Mario Draghi said “what matters is to […]
Fed’s Charles Evans says ‘open-minded’ about right level for interest rates
Charles Evans, president of the Federal Reserve Bank of Chicago Daniel Acker | Bloomberg | Getty Images Charles Evans, president and chief executive officer of the Federal Reserve Bank of Chicago, told CNBC Monday that he was “open-minded” when asked about the right level for interest rates in the U.S. […]
Charles Evans says Fed has turned dovish, but still might need to do more
Charles Evans, president and chief executive officer of the Federal Reserve Bank of Chicago, told CNBC Monday that he was “open-minded” when asked about the right level for interest rates in the U.S., but suggested more cuts could be needed if economic headwinds increase. Evans, noted for his dovish views […]
The Fed and the ECB must avoid becoming fixers of last resort
Jerome Powell, chairman of the U.S. Federal Reserve, pauses while speaking during a news conference following a Federal Open Market Committee meeting in Washington, D.C., on Wednesday, Sept. 18, 2019. Andrew Harrer | Bloomberg | Getty Images “I knew they would cave in.” That was the cutting remark from an […]
Companies could flock to list in Hong Kong if the US blocks investments in China
The New York Stock Exchange building is seen adorned with banners on September 19, 2014 as Chinese giant Alibaba makes its Wall Street debut. JEWEL SAMAD | AFP | Getty Images Companies could flock to list in Hong Kong or Chinese domestic markets if the U.S. places restrictions on investments […]
Pigeons, drones and balloons banned in Beijing so they don’t disrupt National Day
Chinese tourists, some wearing 70th anniversary t-shirts, gather for a photo near a large screen set up for the 70th National Day celebrations while visiting Tiananmen Square on September 27, 2019 in Beijing, China. Kevin Frayer | Getty Images News | Getty Images Ahead of China‘s 70th anniversary celebrations on […]