U.S. President Donald Trump may be unhappy with Federal Reserve Chairman Jerome Powell, but he has no authority to remove the central bank head from office, Morgan Stanley said. Trump renewed his criticisms of Powell earlier this week, blaming the Fed chair for the recent market sell-off and automaker General […]
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The ‘Internet of Things’ will cause more security problems next year, exec warns
The “Internet of Things” has created all sorts of problems on the cybersecurity front — and the problem may get worse soon. The Internet of Things, commonly called IoT in tech circles, is the concept of conventional, physical objects being linked to the internet and communicating with each other — […]
China’s fintech revolution is potentially ‘a very big risk,’ says finance president
The sheer number of fintech companies setting up in China has the potential to become “a very big risk,” according to the president of Chinese financial investment platform, Phoenix Finance. Speaking at CNBC’s East Tech West conference in the Nansha district of Guangzhou, China, Vince Zhang said many of the […]
Former Snap exec shares advice for tech companies as he gets ready to take on Amazon
Snap‘s former chief strategy officer believes that while companies should be wary of their competitors, they must not forget to focus on their customers. “I think that so many companies always forget who their customers are,” Imran Khan told CNBC’s Deirdre Bosa during a fireside chat at the East Tech […]
US and China are ‘two big animals learning to co-exist,’ says Morgan Stanley
The massive trade dispute between the U.S. and China — which some expect to drag through next year— will not bring about a global, economic cold war, according to Morgan Stanley. “I think these are just two big animals learning to co-exist with each other,” Colm Kelleher, the president of […]
Twitter suspends account it says impersonated Russia’s Putin
Twitter said on Wednesday that it suspended an account for impersonating Russian President Vladimir Putin on the social media platform. “We suspended @putinRF–eng for impersonation based on a valid report we received from Russian officials,” Twitter said on Wednesday. Tweet: We suspended @putinRF_eng for impersonation based on a valid report […]
US criticizes China’s ‘egregious’ tariffs on American cars ahead of G-20 summit
U.S. Trade Representative Robert Lighthizer said on Wednesday that he was examining all available tools to raise U.S. tariffs on Chinese vehicles to the 40 percent duties that China is now charging on U.S.-produced vehicles. Lighthizer said in a statement criticizing China’s “egregious” tariffs on U.S. autos that he was […]
US manufacturers say Trump tariffs will bring higher prices, not more jobs
The Trump administration’s widening trade war will raise prices for U.S. consumers, but it won’t bring back many manufacturing jobs that have moved overseas. That’s what more than 800 companies said in a survey released Thursday by IHS Markit, a London-based economics research firm. When the administration ramped up tariffs […]
Non-bank lenders like Quicken Loans are ‘the biggest risk to the system’ right now, Jim Cramer warns
Federal Reserve Chairman Jerome Powell may have “blinked” in his Wednesday speech, saying that the Fed had “no preset policy path” for interest rates, but his work is far from over, CNBC’s Jim Cramer warned as stocks popped on Powell’s speech. “What’s the biggest risk to the system right now? […]
Lyft just hired a hotshot exec from McKesson to run its growing medical transport business
After a months-long search, Lyft has hired a leader for its growing health care business, which helps patients get rides to non-emergency medical appointments. The company is set to announce it’s hired Megan Callahan, formerly the chief strategy officer for Change Healthcare, a company that merged with McKesson in 2017, […]