Ma Huateng is the richest man in China, according to the Forbes World’s Billionaires list. On Thursday, the man known as Pony Ma also won a spot on the Forbes list of the World’s 10 Most Powerful CEOs for 2018. As CEO and chairman of Tencent, one of the world’s […]
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Ties with US, N. Korea make Singapore an optimum summit site
With the Demilitarized Zone on the Korean Peninsula out of contention, the small nation of Singapore is a natural choice for the historic summit between U.S. President Donald Trump and North Korean leader Kim Jong Un, analysts say. Trump announced in a tweet Thursday that the two leaders will meet […]
Car prices are falling while it costs more to buy gas at the pump
Prices for new and used cars fell sharply in April, even as the price of the gasoline needed to fuel them spiked. Vehicle prices fell 0.9 percent, the second-largest drop on record, according to J. P. Morgan economists. Used car and truck prices fell 1.6 percent in April, the largest […]
Here’s what drivers are paying for gas across the US
President Donald Trump‘s decision to pull the U.S. out of the Iran nuclear deal and re-impose tough sanctions on the Middle Eastern nation is already costing Americans at the gas pump. With U.S. motorists getting ready to hit the highway for the summer driving season, pump prices have been moving […]
The robots are coming! The robots are coming! … to the bond market
Abbie has enjoyed a brilliant start to her new job as a junior fund manager at AllianceBernstein, a $500bn investment group in New York. In her first three months she has handled thousands of bond trades worth nearly $19bn, never complaining, messing up or even taking a break. That’s because […]
French insurer Axa finds tepid appetite for US business as IPO comes up $1 billion short
Axa SA‘s $15.3 billion takeover of global property casualty firm XL Group was a monster deal in the insurance world, but Paris-based Axa’s plan to pay for the acquisition has come up short. The French company is selling its U.S. business, Axa Equitable Holdings, in an initial public offering. But […]
Cramer calls Nvidia’s billionaire, Taiwanese-American CEO the ‘Einstein of our era’
CNBC’s Jim Cramer praised Nvidia‘s billionaire CEO Jensen Huang ahead of the computer chipmaker’s quarterly earnings after Thursday’s closing bell on Wall Street. The “Mad Money” host characterized the Taiwanese-American entrepreneur, who co-founded the Silicon Valley company in 1993, as a “visionary” and possibly the “[Albert] Einstein of our era.” […]
The most expensive ZIP code in California isn’t in San Francisco or LA
It’s no secret that living in California can be expensive. The average price for a home there is $537,315, compared to a national average of $268,500. But in the most expensive ZIP code in the Golden State, prices can reach more than 10 times that amount. That’s according to financial […]
You can sell your life insurance policy to an investor for a lump-sum payment
When it comes to life insurance, there’s a variety of reasons why older Americans might wonder if they should let their policy lapse. For instance, someone who put a policy in place before the estate tax exemption was raised this year — to about $11.2 million from $5.5 million per […]
Morgan Stanley downgrades Macy’s on declining sales, profit ‘pressure’ from online
Macy’s stock will fall as the company’s physical store sales deteriorate, according to one top Wall Street firm. Morgan Stanley lowered its rating to underweight from equal-weight for Macy’s shares, predicting the retailer will report lower than expected earnings this fiscal year. “Macy’s continues to undergo core operating challenges, similar […]