Month: June 2022
‘The inevitable’: People living on the coast could be forced to move due to climate change, UK warns
Houses on the east coast of England, photographed in 2020. On Tuesday, the chief executive of the U.K.’s Environment Agency said climate change meant some coastal communities would have to move. Owen Humphreys | PA Images | Getty Images The chief executive of the U.K.’s Environment Agency has issued a stark warning to coastal communities, […]
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Crypto investments will be a ‘big zero’ in the end, says value investor Mohnish Pabrai
Cryptocurrencies sold off massively this year, but Buffett disciple Mohnish Pabrai says the worst is not over. “I think most of the crypto stocks and investments in the end will be a big zero,” Pabrai, who is managing partner of Pabrai Investment Funds, told CNBC on Wednesday. The veteran investor said crypto “is a bubble,” […]
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Russia doesn’t have extra oil for new deals with two Indian buyers: Reuters, citing sources
An illuminated logo sits on display above the Rosneft Oil Co. pavilion on June 5, 2019. Russia’s Rosneft is holding back on signing new crude oil deals with two Indian state refiners, three sources with knowledge of the matter said, as it has committed sales to other customers. Andrey Rudakov | Bloomberg | Getty Images […]
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The Quad’s new maritime initiative has potential to spur militarization of the Indo-Pacific
The Quad’s MDA program may further militarize the Indo-Pacific region, where U.S. aircraft carrier USS Nimitz is seen here in a file photo leading a formation. Stocktrek Images | Stocktrek Images | Getty Images The Quad countries want to jointly monitor movements of ships and submarines in the Indo-Pacific using satellites, a move analysts warn […]
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Here’s how much Apple’s supply chain depends on Shanghai
Apple opened its 54th flagship store in Greater China in the city of Wuhan in May. The iPhone company warned in late April that supply chain disruptions from China’s Covid controls would likely hurt sales in the current quarter by $4 billion to $8 billion. Sopa Images | Lightrocket | Getty Images BEIJING — Apple’s […]
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Blackstone closes in on $6.3 billion bid for Crown Resorts after Australian regulatory approvals
Blackstone offices in New York City. Australian gambling regulators have cleared private equity giant Blackstone to run the troubled casinos of Crown Resorts in the country’s two largest cities, a crucial but largely expected step in its $6.3 billion buyout. Erik Mcgregor | Lightrocket | Getty Images Australian gambling regulators have cleared private equity giant […]
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HSBC shutters Hong Kong-based trade start-up Serai
An HSBC Holdings bank branch in Hong Kong on May 24, 2022. A Hong Kong-based trade platform launched by HSBC Holdings three years ago with much fanfare has shut down after failing to build a commercially viable business. Bertha Wang | Bloomberg | Getty Images A Hong Kong-based trade platform launched by HSBC Holdings three […]
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Buffett disciple Mohnish Pabrai names his 2 favorite investing books right now
Looking to invest in stocks with long-term value? Veteran investor Mohnish Pabrai has two books to recommend. Speaking to CNBC Pro Talks, Pabrai — a value investor and disciple of billionaire Warren Buffett — said that “100 to 1 in the Stock Market” is an “extremely well-written” book. Authored by Thomas Phelps and originally published 50 […]
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Millennial in Atlanta quits $180,000 job, moves to Lisbon: ‘You get a lot of bang for your buck here’
Sharolyn Wynter recalls feeling “so proud and happy” when she hit a six-figure salary for the first time as a consultant for Deloitte. “And then it was such a fleeting moment,” says Wynter, now 37. “I was still going to work every day, working long hours, not being able to enjoy this money that I’d […]
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JPMorgan names its winning and losing global stocks for the rest of the year
Analysts at JPMorgan have picked their likely winners and losers for the second half of 2022, naming stocks set to do well — or badly — when factors such as inflation, bond yields and oil prices are taken into account. The analysts identified several trends for the coming months after a volatile first half that […]
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