Month: June 2022
Mark Mobius shares tips on how investors can jump on India’s ‘incredible growth opportunity’
India is now “emerging as something very exciting,” thanks in part to technology and government policies, according to Mark Mobius. “Right now, we’re focusing more and more on India,” Mobius, founding partner at Mobius Capital Partners, told CNBC’s “Squawk Box Asia” on Tuesday. The veteran investor made his name at Franklin Templeton and is seen […]
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China’s electric vehicle battery supply chain shows signs of forced labor, report says
Hundreds of Uyghurs are working for a mining conglomerate that produces raw materials for electric vehicles as part of a so-called work transfer program in China, the New York Times reported. Shen Longquan | Visual China Group | Getty Images Chinese companies that produce raw materials for electric vehicle batteries show indications of using forced […]
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Singapore confirms case of monkeypox, first in Southeast Asia
In this photo illustration, blood test vials are seen in front of a screen that says ”Monkeypox” Nikos Pekiaridis/ | Nurphoto | Getty Images Singapore has confirmed an imported case of monkeypox, the health ministry said late on Tuesday, the first such case reported in Southeast Asia during this year’s outbreak of the viral disease. […]
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Asia-Pacific stocks rise after Wall Street bounces back
SINGAPORE — Shares in the Asia-Pacific region traded higher on Wednesday, as Wall Street bounced back after a turbulent week last week. Investors will be looking ahead to the minutes from Bank of Japan’s monetary policy meeting. Japan’s Nikkei 225 rose 0.52% in early trade, while the Topix gained 0.6%. The S&P/ASX 200 in Australia […]
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Amazon loses two Black executives, including one on leadership team
Jeff Kowalsky/Bloomberg via Getty Images Amazon is losing two top executives who lead warehouses and transportation. Alicia Boler-Davis, senior vice president of global customer fulfillment and a member of the company’s leadership team, and David Bozeman, VP of Amazon Transportation Services, are departing the company, according to people familiar with the matter. Both were among […]
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Cramer’s lightning round: I like MP Materials
American Airlines Group Inc: “Long term, I don’t like the airline. Short term, this stock is too low, given the fact that people are traveling.” Marathon Oil Corp: “I like Marathon, because I like the oils. … Don’t get greedy. [Buy].” T Rowe Price Group Inc: “This company is radically undervalued because it happens to […]
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Beyonce’s ‘Break My Soul’ is a sign the Great Resignation ‘has seeped into the zeitgeist,’ says labor economist
Beyoncé released a new single, “Break My Soul,” on Monday. The song references quitting a job and employee stress, alluding to the recent Great Resignation trend. Larry Busacca | PW18 | Getty Images The Great Resignation is part of the zeitgeist. If you need proof, just ask Beyonce. The superstar singer’s new single, “Break My […]
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Why Jim Cramer thinks owning Sweetgreen stock is ‘a recipe for portfolio destruction’
CNBC’s Jim Cramer on Tuesday warned investors not to invest in Sweetgreen, saying the stock is unlikely to perform well in an inflationary environment. “This is a bear market, not a bull market. … In a bear market, you do not stick your neck out to pick at hated stocks,” he said. “Right now, Wall […]
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Fraud trial against Elizabeth Holmes’ partner at Theranos nears end
SAN JOSE, Calif. — In a harshly worded closing argument, prosecutors on Tuesday said former Theranos COO Ramesh “Sunny” Balwani “wasn’t a victim, he was the perpetrator of fraud” in the company’s downfall, while his attorney blasted the government’s case calling it inconsistent. The closing statements capped a three-month-long trial where the government alleged Balwani […]
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Inflation won’t come down anytime soon if Tuesday’s rally lasts, Jim Cramer warns
CNBC’s Jim Cramer said that Tuesday’s market gains need to come down in order for the Federal Reserve to beat inflation as soon as possible. “Right now, the best outcome would be for the averages to come down quickly, so [Fed Chair Jay Powell] can get it over with,” he said. “Powell had better hope […]
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