India’s government pledged on Wednesday to inject nearly $14 billion combined into all but one state-run lender by March in return for them implementing reforms, in a bid to boost lending and tackle a record bad debt problem. The funds will be injected into 20 lenders majority-owned by the government, […]
CNBC News
A group of scientists is trying to limit Trump’s nuclear authority
A group of scientists proposed a plan Wednesday that would limit presidential authority to unilaterally order a nuclear attack. The plan would require that the president first obtain approval from the next two officials in the presidential succession chain — the vice president and speaker of the House, according to […]
Asia markets trade mixed as the dollar remains on the back foot
Major indexes in Asia traded mixed early on Thursday while the dollar remained on the back foot after tumbling in the last session. Japan’s benchmark Nikkei 225 declined 0.87 percent, with most sectors — including automakers, technology, manufacturing and financials — trading in negative territory. Major exporters traded lower following […]
Ford has not done enough to be ‘fit’ says CEO Jim Hackett
Ford still has work to do to be a truly “fit” company, said CEO Jim Hackett on Wednesday. The second-largest automaker said it is not yet fit enough to offset headwinds from higher commodity prices, which the company expects to continue to affect finances in 2018. “Ford is a strong […]
The US can build as many walls as it wants but they don’t work, says former Mexico president
The United States has the right to build as many walls as it wants, but that’s not the right way to approach border security, former Mexican President Vicente Fox told CNBC on Wednesday. “Walls historically have never worked — the Chinese wall, the Berlin wall,” he said in an interview […]
North Korea sends rare announcement to all Koreans, calling for unification
North Korea sent a rare announcement addressed to “all Koreans at home and abroad” on Thursday, saying they should make a “breakthrough” for unification without the help of other countries, its state media said. It said all Koreans should “promote contact, travel, cooperation between North and South Korea” while adding […]
Cramer unpacks the wild action in a ‘new’ kind of market—one with 3 trading sessions a day
After a whiplash in the major averages on Wednesday drove the stock market to soaring highs before it fell to tumultuous lows, CNBC’s Jim Cramer realized he needed to reevaluate. Stocks opened to a healthy rally in the morning, but by midday, the Dow had fallen over 250 points. Shortly […]
Caterpillar’s stock is ‘out-of-control overbought’ ahead of its earnings report, a strategist says
Over the last year, Caterpillar’s shares have bulldozed their way to new records. Yet that sudden and steep rally has at least one market watcher questioning its sturdiness. “The stock has had a great run but it’s kind of gone vertical in the last two months,” said Matt Maley, equity […]
Ford earnings swing to profit, but miss Wall Street’s target
Ford said its quarterly earnings swung to a profit in the fourth quarter, but fell shy of analysts’ expectations on Wednesday. The second-largest U.S. automaker blamed the miss in part on rising commodity prices and unfavorable foreign exchange rates. Here’s how the company did compared with what Wall Street expected: […]
Under new tax policy United Technologies to pay down debt from Rockwell Collins faster, says CEO
United Technologies will be able to pay off its debt sooner than expected as funds freed up by the new tax law flow back to the U.S., United Technologies Chairman and CEO Gregory Hayes told CNBC. The U.S. manufacturer of jet engines typically repatriates about $1 billion a year in […]