Much of the news this past week has focused on what Facebook CEO Mark Zuckerberg did — or did not do — when he found out that Cambridge Analytica had gained unauthorized access to information about tens of millions of Facebook users. While much of the anger is connected to […]
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Five Dow stocks are in bear market territory. Why Merck and General Electric may be the ones to buy
The major indexes tried to recover Friday after a massive sell-off in the previous session that briefly sent the Dow into correction territory. The Dow and S&P are now on track for the worst March performance since 2001. The recent selling pressure is putting a dent in many large-cap Dow […]
2 dead after gunman takes hostages in French supermarket in ‘terrorist attack’
Two people are dead after a hostage situation in the southern French city of Trebes, according to multiple media reports. At approximately 11:00 a.m. Friday morning local time, an armed individual penetrated the Super U supermarket in Trebes, near the town of Carcassonne. Gunshots were heard inside and the man […]
PRO Talks: Wells Fargo’s Darrell Cronk on why it may be time to move away from tech
President of Wells Fargo Investment Institute analyst Darrell Cronk shared his market and economic outlook – as well as potential areas to invest – in an exclusive interview for CNBC PRO with Mike Santoli. Cronk said that given technology’s strong performance over the last year, investors may be better suited […]
Ben Mezrich — who wrote the book on Facebook — says our relationship with the social network is ‘built on lies’
Facebook users got a real wake-up call this week, according to Ben Mezrich, whose best-selling book was made into the movie “The Social Network.” Trump campaign-linked Cambridge Analytica’s data mining from 50 million Facebook profiles brought into focus a fundamental truth, Mezrich told CNBC on Friday. His book “The Accidental […]
Apple is working on a ‘foldable’ iPhone for release in 2020, says Bank of America
Apple plans to come out with a radically different iPhone design within two years, according to a top Wall Street firm. Bank of America Merrill Lynch said the smart-phone maker is working with its Asian partners on a “foldable” phone. “We expect the iPhones this fall to be largely unchanged […]
GlaxoSmithKline pulls out of $20 billion race for Pfizer’s consumer health-care business
GlaxoSmithKline has withdrawn from the race to buy Pfizer’s consumer health-care business, the British company said on Friday, endangering an auction the U.S. drugmaker hoped would bring in as much as $20 billion. It was not immediately clear whether there were other offers for the business, which includes Advil painkillers […]
Shares of Deutsche Bank’s asset management arm edge higher in stock market debut
The asset management division of Germany’s largest bank began trading on the country’s stock exchange Friday. Shares of Deutsche Bank‘s DWS edged higher in their stock market debut on the Frankfurt stock exchange, with the listing likely to galvanize the mood among other pending German flotations. The opening share price […]
Companies are taking action on gun control because the government won’t: CNBC survey
Last month’s tragic shooting at Marjory Stoneman Douglas High School in Parkland, Florida, and the activism it inspired, have forced large public companies into the debate over how to mitigate gun violence. More than half of major companies taking part in a CNBC quarterly survey say they need to take […]
China urges US to ‘pull back from the brink’ as Trump picks trade weapons
China urged the United States on Friday to “pull back from the brink” as President Donald Trump’s plans for tariffs on up to $60 billion in Chinese goods moved the world’s two largest economies closer to a trade war. The escalating tensions between Beijing and Washington sent shivers through financial […]