Starbucks will use some of the savings from the new U.S. corporate tax cuts to give domestic employees pay raises, company stock and expanded benefits with a combined worth of more than $250 million, the company said on Wednesday. With the announcement, the world’s biggest coffee chain joins companies like […]
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General Electric to report earnings before the bell — here’s what Wall Street expects
General Electric is expected to report its fourth-quarter earnings before the bell on Wednesday, in a filing Wall Street is watching closely. This will be the second quarterly report for GE under CEO John Flannery, amidst a tumultuous period for the company. Shares of GE slipped to nearly $16 on […]
Trump to meet with world leaders, business CEOs at Davos forum
U.S. President Donald Trump will meet with Israeli Prime Minister Benjamin Netanyahu, British Prime Minister Theresa May, and other world leaders when he attends the World Economic Forum in Davos, Switzerland, this week, White House officials said on Tuesday. Trump is due to take an overnight flight on Wednesday night […]
Optimism in the global economy is tainted by the ‘rapid rise’ in debt, JP Morgan’s Frenkel says
Excess global debt is a major concern for J.P. Morgan‘s international chairman. Speaking at the World Economic Forum in Davos, Jacob Frenkel said: “My main concern is problems arise, always, when you are overly optimistic (and) when you take too much debt.” “This was the main lessons from all the […]
Stripe is giving up on bitcoin as a payment method
Stripe, which four years ago said it would become the first major online payments platform to accept bitcoin for payments, is ditching the idea. The company said Tuesday that the cryptocurrency had almost become a victim of its own popularity — the time needed to complete a transaction has increased, […]
A weaker dollar is good for the US, Treasury Secretary Mnuchin says
Treasury Secretary Steven Mnuchin said the U.S. is open for business and welcomed a weaker dollar, saying that it would benefit the country. Speaking at a press conference at the World Economic Forum in Davos Wednesday, he made a bid for investment into the U.S., saying the government was committed […]
Saudi Aramco will list in Hong Kong eventually, says the city’s stock exchange chief
The potential to reach the vast Chinese investing public will eventually bring Saudi Aramco to list in Hong Kong, even if the oil giant skips over the special administrative region for its first public offering, said Charles Li, chief executive of Hong Kong Exchanges and Clearing. “A deal in Hong […]
US tax changes could add growth but mean nothing without structural reform, OECD’s Gurria says
An overhaul of the U.S. tax system could help promote growth but structural reforms need to be made, the secretary general of the Organisation for Economic Co-operation and Development (OECD) told CNBC at the World Economic Forum in Davos, Switzerland. “On the face of it you’re talking about lowering corporate […]
Major Asian indexes close mostly higher; dollar index falls below 90
Asian markets closed mostly higher on Wednesday as the dollar continued its decline against a basket of other currencies. Most indexes in the region had recorded significant gains in the last session. The Nikkei 225 slid 0.76 percent, or 183.37 points, to close at 23,940.78 one day after the index […]
Chinese e-commerce giant JD is considering a dual listing for its logistics business
China’s second-largest e-commerce firm, JD.com, could take its logistics business public and it may consider a dual listing, the company’s chief said this week. Speaking to CNBC in Davos, Switzerland at the annual World Economic Forum meeting, JD Founder and CEO Richard Liu said considerations were being made for the […]