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"Blue Skies" Thinking in China
The Chinese leadership is now promising “to make our skies blue again” in a popular move to address an issue that has given rise to public protests across China against the industrial smog that blights so many cities. The solution to a pressing economic problem is now linked to an emotive popular issue. The pollution is the result of coal
Wells Fargo is Getting Killed By its Banking Scandal
The massive banking scandal that enveloped Wells Fargo last year appears to be taking its toll as the bank revealed on Monday that its customer checking-account and credit-card openings plummeted in February compared to a year earlier, the Wall Street Journal reports. On a call with analysts, banking officials from Wells Fargo said that "checking-account openings fell 43% year-over-year to around
Uber's Terrible, Horrible, No Good, Very Bad 2017
Uber's announcement on Monday that President Jeff Jones is leaving the company after less than a year on the job is just one of the many issues affecting the company. Jones joined Uber after leaving his post as Target Corporation (NYSE: TGT)'s chief marketing officer late last year. His move from one of the biggest retailers to the relatively new
Modi's Cash Takeaway Seems Not to Dent India's Growth
The Indian government's surprise decision to withdraw millions of banknotes from circulation in November caused only a modest drag on economic growth. The country's growth rate fell to 7%, on an annualised basis, during the quarter ending on December 31, according to official figures. The comparable rate for the preceding three-month period was 7.4%. The latest growth rate was, “above
4 Lessons Latin American Startups Can Teach U.S. Businesses in the Trump Era
The co-founder and CEO of one of the most successful startups in Latin America discussed the challenges of building a successful business in the region; of servicing large-caps like Anheuser Busch Inbev NV (ADR) (NYSE: BUD), Starbucks Corporation (NASDAQ: SBUX) and Restaurant Brands International Inc (NYSE: QSR)’s Burger King; and of getting funded by Silicon Valley heavyweights like QUALCOMM, Inc.
Fed on Inflation: ‘Stabilize’ … ‘Sustained’ … ‘Symmetric’
Although there was no drama in the Federal Reserve’s decision today to remove 25 basis points of accommodation (also known as a policy rate hike), there was a surprising – and laudable – amount of substance in the changes to the accompanying Fed statement. This is a Fed that likes to say it’s data-dependent, but as we’ve written, data dependence
Brexit Barriers 'Help No One', Says Japanese Group
The chairman of an association of Japanese dealers has issued a stark warning about the dangers of Brexit. “We understand the difficulties lying ahead in the negotiations but strongly hope that both sides understand that fragmentation and barriers help no one when it comes to financial markets,” said Kazutoshi Inano, chairman and chief executive of the Japan Securities Dealers Association,
Big Names Aren't Big in This Tech ETF, But Big Returns Are
The technology sector, the S&P 500's largest sector exposure, continues driving U.S. equity markets higher. On Wednesday, more than 15 of the exchange traded funds hitting all-time highs were technology funds and that doesn't include the ETFs tracking tech-heavy benchmarks such as the NASDAQ-100. Not surprisingly, some of tech's biggest names are boosting the sector's fortunes. Year-to-date, nine members of
VC Founder: Amazon is Now Closest to a 'Natural Monopoly' in Two Markets
Chamath Palihapitiya, founder and CEO of Social Capital, stopped by CNBC's Squawk Box to talk about Amazon's explosive growth, which he says could make it a $3-trillion company within a decade. He also says that Amazon is the closest we have to a "natural monopoly" in two major markets. Watch the interview with Palihapitiya below via CNBC. Photo: Adrian
A Breakdown of Trump's Budget Proposal (Which Has No Chance of Passing)
President Trump on Thursday sent his budget proposal to Congress that aims to spend a lot of money on the military and building a border wall, while making the steepest cuts to domestic programs since Ronald Reagan was in office, and which pretty much everyone says has no chance of passing in its current form. And while there will be talk