Month: November 2018

President Donald Trump can’t blame Jerome Powell for a bad stock market now that the Federal Reserve chairman has appeared to walk back his comments on interest rate hikes, Wharton School finance professor Jeremy Siegel told CNBC on Friday. The pressure is on Trump “more than ever” to reach a trade agreement with China as
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Minneapolis Federal Reserve President Neel Kashkari told CNBC on Friday that central bankers should not raise rates when job creation continues to be strong and inflation remains tame. At this point, the Fed should pause on rate increases, Kashkari said, adding that hiking too forcefully before necessary could risk causing a recession in the U.S.
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Marriott International said on Friday the Starwood guest reservation database was breached, potentially exposing information on about 500 million guests. The company said its investigation showed that an unauthorized party had copied and encrypted information, and that it had taken steps towards removing it. This story is developing. Please check back for updates. Read the
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Lemonade, a U.S. home and renters insurance start-up, is making Europe its first global expansion target. The New York-based firm uses artificial intelligence (AI) and chatbots to tailor insurance products for homeowners and tenants on its platform. In an announcement Thursday, the company said the move abroad will come “soon,” but did not specify what
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Cloud storage provider Box reported a smaller-than-expected quarterly loss as it added more customers, and forecast full-year revenue estimates above analysts’ estimates. The company’s shares, which have fallen about 14 percent this year, rose 5 percent in extended trading. Box ended its third quarter with more than 90,000 paying customers, up from 87,000 in the
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Morgan Stanley said it is “buying the McDonald’s of the future today” as the firm upgraded the fast food chain’s stock to overweight from equal weight on Thursday. “We are endorsing the notion that McDonald’s massive store modernization efforts, first rolled out in select international markets and now in the US (its single largest market),
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One Wall Street firm is concerned that rising washing machine prices as a result of the Trump administration’s tariffs are weighing on Whirlpool’s unit sales. Credit Suisse downgraded the home appliance manufacturer to neutral from outperform on Wednesday, citing a decline in shipments as reported by an industry trade organization. While manufacturers have marked up
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Salesforce.com is in peak performance mode as companies shift their operations to become more digital and cloud-reliant, the software giant’s Chairman, co-founder and co-CEO Marc Benioff told CNBC on Tuesday. “I don’t think the company’s ever been stronger or been in a better position, and the reason why is every company that we’re dealing with
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European stocks opened higher Wednesday, as investors looked ahead to an all-important G-20 summit later this week. The pan-European Stoxx 600 was up around 0.46 percent shortly after the opening bell, with most sectors and major bourses in positive territory. As the latest G-20 summit draws closer, investors continue to closely monitor simmering tensions between
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Cryptocurrency enthusiasts have been eagerly awaiting the approval of what would be the first-ever bitcoin exchange-traded fund, or ETF. But the man largely behind greenlighting one — Securities and Exchange Commission Chairman Jay Clayton — has a few worries that need to be assuaged before he’s “comfortable” approving the investment vehicle. The first is a
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Companies that don’t value trust as a top priority are going to have trouble keeping their customers moving forward, Salesforce.com chief Marc Benioff told CNBC’s Jim Cramer in a wide-ranging interview Tuesday. Asked on “Mad Money” whether a company like Facebook can redeem itself following its breach of consumer trust, Benioff said that the table
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