Daniel Pinto has seen his share of booms and busts. An Argentinean who spent much of his early career in volatile emerging markets, Pinto, 55, began at J.P. Morgan Chase in 1983 as a currency trader in Buenos Aires. Thanks to his ability to manage risk in a series of […]
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Weekly mortgage applications fall 2.7% even before rates spike
Borrowers may have missed an opportunity to get the last of the low rates last week, as it now appears interest rates are moving decidedly higher. Mortgage application volume fell 2.7 percent for the week, seasonally adjusted, according to the Mortgage Bankers Association. Volume was 4.5 percent lower compared to […]
Italy’s populists deny they’ll ask for debt forgiveness after clinching power
The Italian right-wing Lega party denied reports that it’s seeking a 250 billion euro ($ 296.16 billion) debt write-off if it becomes part of a power-sharing deal with the anti-establishment Five Star Movement (M5S). Lega and the left-wing M5S have been locked in negotiations for more than two months, trying […]
Iran and Venezuela are ‘a major challenge’ to avoiding oil price hikes, IEA warns
Potential oil supply disruptions in Iran and Venezuela have prompted oil traders to focus on geopolitics rather than fundamentals, the International Energy Agency (IEA) said in its latest monthly report Wednesday, warning that any supply cuts could prompt prices to rocket. “The potential double supply shortfall represented by Iran and […]
Trump’s Iran deal pullout sends a bad message to North Korea, former UN chief says
Former UN Secretary-General Ban Ki-Moon is worried about America’s image when it comes to establishing credibility in its upcoming talks with North Korea. President Donald Trump’s recent decision to withdraw from the Iranian Nuclear Deal does not set a good precedent for reliability and that will matter to North Korea […]
George Soros’ fund bought $35 million of Tesla bonds while loading up on Amazon, Netflix stock
George Soros‘ investment firm bought a large amount of Tesla bonds in the first quarter of 2018, giving the under pressure electric carmaker a major backer, a regulatory filing shows. Soros Fund Management bought $35 million worth of convertible notes, which are bonds that can be converted into a specified […]
Need a travel companion? Now you can rent a robot in Japan
If you’re planning to go to Japan by yourself, fear not, RoBoHon is here. This humanoid robot can hold short conversations with humans and is marketed in Japan as a device that could possible replace your cellphone. Now, it’s available for tourists, too. CNBC recently went to Tokyo, Japan, where […]
Ukraine is about to make another crucial step toward Europe
This Thursday, the Verkhovna Rada (the parliament of Ukraine) considers a historic proposal to replace 25-year-old foreign exchange legislation with an entirely new law that will open our country to international investors and make it easier for Ukrainian businesses to operate globally. Technical though it may seem, liberalization of our […]
The United Arab Emirates’ largest fuel distributor says it can help transform the region
ADNOC Distribution, the largest fuel and convenience retailer in the United Arab Emirates (UAE), can play a role in the region’s economic transformation, its deputy chief executive told CNBC Wednesday. “We gain and we succeed through the investment, not just of ADNOC, but across the UAE region and I think […]
Trump’s sanctions on Iran may be creating an oil trading boom — in China
Trade in Chinese yuan-denominated crude oil futures has surged since President Donald Trump pulled the U.S. out of the Iran nuclear deal. Launched on March 26, crude oil futures on the Shanghai International Energy Exchange (INE) were met with fanfare — and skepticism about how much a state-managed marketplace could […]