The stars are aligning for Saudi Arabia’s stock market, according to a Credit Suisse analyst. The country’s economic transformation is lifting prospects, higher oil prices are enriching government coffers — and its inclusion into global benchmarks will bring in more foreign money, said Krithika Subramanian, a research analyst at Credit […]
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Auto companies can’t go at it alone in making self-driving cars safer: Jaguar Land Rover CEO
Even with recent accidents involving self-driving vehicles, they would still be a safer way for people to move around in the future, said Jaguar Land Rover’s Chief Executive, Ralf Speth. But auto companies cannot be solely responsible for bringing that vision into fruition, he said. “We need to make sure […]
Mulvaney, watchdog agency’s leader, advises bankers on ways to curtail it
Mick Mulvaney, the interim director of the Consumer Financial Protection Bureau, told banking industry executives on Tuesday that they should press lawmakers hard to pursue their agenda, and revealed that, as a congressman, he would meet only with lobbyists if they contributed to his campaign. “We had a hierarchy in […]
Chinese electric car start-up Nio: We welcome competition from Tesla and others
With the Chinese government recently announcing plans to allow full foreign ownership in its car industry starting with “new energy vehicles” at the end of 2018, one Chinese electric automaker is welcoming the increased competition. Speaking with CNBC’s Nancy Hungerford, Lihong Qin, co-founder and president of Chinese automobile start-up Nio […]
Volvo Cars CEO on US-China trade tariffs: ‘We are very worried’
Retaliatory trade tariffs between the world’s two largest economies could end up hurting automobile buyers, Volvo Cars CEO Hakan Samuelsson warned on Wednesday. “We are very worried because the whole business concept is based on open trade…if we don’t have that, we will have to invest in every single car […]
US senators push banks to disclose ties with wealthy Russians allied with Putin
U.S. senators are pressing many of the world’s largest financial institutions to disclose any links between their companies and wealthy Russians allied with Russian President Vladimir Putin, according to a letter released on Tuesday. Two Democratic senators, Jeanne Shaheen and Sheldon Whitehouse, have written to the banks, hoping to increase […]
Sears’ head of real estate is stepping down
The head of Sears Holdings‘ real estate division, Jeff Stollenwerck, is preparing to step down from his role with the department store chain, a company spokesman told CNBC Tuesday. Stollenwerck has been with Sears for 15 years, leading the retailer through countless asset sales and serving a key role in […]
Two Dallas police officers, civilian shot at Home Depot
Two Dallas police officers were shot and critically wounded on Tuesday at a Home Depot store in the Texas city and a civilian was also shot in the incident, Dallas police said on Twitter. @DallasPD tweet @Dallas PD tweet “A civilian was also shot in this incident. The condition of […]
Cramer says Alphabet’s recent declines are a buying opportunity
Market sell-offs can create buying opportunities. CNBC’s Jim Cramer said today’s market nosedive is a chance to pick up Alphabet, the company formerly known as Google. On Tuesday, Alphabet was down nearly 5 percent despite Monday’s stellar earnings report. The earnings beat Wall Street expectations on multiple fronts. The stock […]
Cramer: Be careful what you say – even red-hot earnings can’t hold up in this sell-off
Wall Street analysts are anticipating a red-hot earnings season. But on Tuesday, 30 stocks in the S&P 500closed more than five percent lower, many in the tech and industrial sectors. “I can’t escape the feeling that this was a bit of a self-inflicted wound,” CNBC’s Jim Cramer said on “Mad […]