Facebook has ricocheted back to prescandal levels and is now within reach of record highs again. The charts tell a different story, says Craig Johnson, chief market technician at Piper Jaffray. “I see a lot of technical damage that has been done in this stock,” Craig Johnson, chief market technician […]
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HSBC says it’s made the world’s first trade finance transaction using blockchain
HSBC claimed on Monday it had performed the world’s first commercially viable trade finance transaction using blockchain technology. The bank issued a letter of credit for U.S. food and agriculture firm Cargill. The trade finance transaction involved a bulk shipment of soybeans from Argentina to Malaysia. The letter of credit […]
Kraft’s bet on growth includes egg-white chips and fermented kraut
Kraft Heinz, the food giant better known for its ketchup and Oscar Mayer cold cuts, is announcing its first bets on the brands it hopes will be part of the future of snacking. The company plans to announce Monday the first five food start-ups it is partnering with through its […]
Canada’s Brookfield makes $3.3 billion offer for Australia’s Healthscope, sparking hopes for a bidding war
Canadian investment firm Brookfield Asset Management made a $3.3 billion approach for Australian hospital group Healthscope, trumping a local buyout proposal and sending shares of the target up to a two-year high on Monday. The approach, disclosed by Healthscope in a statement, sets the scene for a takeover battle for […]
Nintendo is bringing back its retro NES Classic on June 29 after it sold out
Nintendo is bringing back its retro NES Classic Edition console in June, the company announced Monday. The NES was first released in the mid-1980s. At the end of 2016, Nintendo re-released the console which was pre-loaded with 30 retro games such as “Super Mario Bros” and “Donkey Kong.” It was […]
US embassy in Jerusalem will increase Middle East instability, warns Saudi Arabian prince
The U.S. decision to shift its embassy in Israel from Tel Aviv to Jerusalem will make the Middle East a more dangerous place, according to Prince Turki Al-Faisal of Saudi Arabia. “America has stood for rule of law, for justice, for respect of international agreements…and now we see all of […]
Asian markets edge up with US-China trade in focus, as oil prices slip
Most Asian markets closed higher on Monday, with Malaysian stocks recovering after dropping at the open as markets reopened following an election. Meanwhile, oil prices were slightly lower, paring more gains after touching multi-year highs last week. The FTSE Bursa Malaysia KLCI recovered after recording early losses of more than […]
JP Morgan submits application for majority-owned China securities business
J.P. Morgan Chase & Co said on Monday it had submitted an application to the Chinese securities regulator for setting up a new onshore securities business in which the U.S. bank would own a 51 percent stake. The bank’s asset and wealth management unit is also working on increasing its […]
Mark Mobius says combination of South and North Korea would be ‘beautiful’ for investors
Prominent emerging markets investor Mark Mobius said he would “definitely” be interested in putting money into North Korea if he could. South and North Korea is a “beautiful combination,” he told CNBC’s “Street Signs” on Monday. “The South has technology, it has the know-how, it has the manufacturing ability and […]
Malaysia markets turn positive after surprise election, as rest of Asia edges up
Most Asian markets edged higher on Monday, with Malaysian stocks recovering after dropping at the open as markets reopened after an election. Meanwhile, oil prices were slightly lower, paring more gains after touching multi-year highs last week. The FTSE Bursa Malaysia KLCI recovered after recording early losses of more than […]