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 […]
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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GlaxoSmithKline has withdrawn from the race to buy Pfizer’s consumer health-care business, the British company said on Friday, endangering an auction the U.S. drugmaker hoped would bring in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 […]
‘Don’t do it’: Top corporate brass tell CNBC survey that Trump’s trade war is a mistake
U.S. trade policy has risen to the top of the list of “biggest external risks” facing the members of the CNBC Global CFO Council. More than a quarter (27.3 percent) of council members responding to a quarterly poll say U.S. trade policy is now the biggest risk their company faces. […]
Deutsche Bank’s DWS unit starts trading at 32.55 euros 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 started trade at 32.55 euros at 8:30 a.m. London time, after being priced at 32.50 euros ($40.12) a share. This price was slightly below the mid-point of its initial […]
Japan welcomed 20% more tourists in 2017 — and the number is growing
Back in 2008, Japan set an ambitious goal for its tourism industry: 20 million visitors by the year 2020. It hit it five years early. Japan is experiencing a historic tourism boom, in the wake of that drive to draw 20 million leisure visitors, timed to coincide with the planned […]
Asian stocks sink as trade tensions escalate; Nikkei plunges 974 points
Asian markets closed sharply lower on Friday, tracking steep declines in U.S. and European stocks, which took a hit on fears of a potential trade war. In Tokyo, the Nikkei 225 fell 4.51 percent, or 974.13 points, to close at 20,617.86 after earlier dropping to its lowest levels in more […]