World
Foreign carmakers in China face ‘increasingly precarious’ position, consultancy says
Newly produced electric vehicles are being seen at Tesla’s Shanghai Gigafactory in Shanghai, China, on December 31, 2023. Costfoto | Nurphoto | Getty Images BEIJING — New tariffs on Chinese electric cars aren’t enough to help foreign automakers stay competitive, especially in the lucrative China market, according to consulting firm AlixPartners. China is the world’s […]
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Asia-Pacific markets open mixed on the back of Fed chair’s rate cut comments
China’s biggest policy meeting in six years kicks will kick off this week. Wang Yukun | Moment | Getty Images Asia-Pacific markets open mixed on Tuesday as traders in Asia react to Federal Reserve Chair Jerome Powell’s comments that the central bank will not wait until inflation hits 2% to cut interest rates. Powell indicated that […]
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‘Luxury shame’: China’s rich shy away from flaunting their wealth amid economic jitters
China’s rich are turning their backs on flaunting their wealth as the economy faces headwinds, putting the country’s luxury market under pressure. D3sign | Moment | Getty Images China’s rich are growing more cautious about flaunting their wealth as the economy faces headwinds, putting the country’s luxury market under pressure. There are emerging signs of […]
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CNBC Pro Talks: From weight loss drugs to AI winners, CIO set to reveal his top stocks
Weight loss drugs and artificial intelligence have been dominating headlines, with investors betting that stocks in both categories have big potential upside. On Wednesday’s Pro Talks , CNBC’s Senior Technology Correspondent Arjun Kharpal will ask Tema ETFs’ Yuri Khodjamirian how to best invest in these areas and more. Got a question for Khodjamirian? Submit it […]
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Forget the Magnificent 7: UBS just refreshed its ‘Super 8’ list of global stock picks
The so-called “Magnificent Seven” were last year’s hot stocks, with investors piling into Alphabet , Amazon , Apple , Meta Platforms , Microsoft , Nvidia and Tesla . But for those looking for alternatives, UBS has refreshed its list of “highest conviction and most investable” tech stocks in Asia. The bank says these stocks are […]
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‘Best idea…ever’: Fund manager predicts 10-fold rise in this e-commerce stock
Jumia Technologies , a pan-African e-commerce company listed on the New York Stock Exchange, could see its value increase tenfold or more in the coming years, according to hedge fund manager Josh Koren. Jumia, often described as the “Amazon of Africa,” operates an e-commerce platform across 10 African countries . The company’s stock has surged […]
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A big European asset manager trims Nvidia shares after huge rally
DNB Asset Management, a Nordic fund giant managing nearly $90 billion as of the end of 2023, dumped a sizable portion of its Nvidia stake after the chipmaker’s stunning 2024 run, according to a new regulatory filing. The firm decreased its Nvidia share count by 9% in the second quarter to about 9.3 million shares, […]
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Powell indicates Fed won’t wait until inflation is down to 2% before cutting rates
Federal Reserve Chair Jerome Powell said Monday that the central bank will not wait until inflation hits 2% to cut interest rates. Speaking at the Economic Club of Washington D.C., Powell referenced the idea that central bank policy works with “long and variable lags” to explain why the Fed wouldn’t wait for its target to […]
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Watch Fed Chair Jerome Powell’s remarks on interest rate policy and the economy
[The stream is slated to start at 12:30 p.m. ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chair Jerome Powell is set to address the Economic Club of Washington, D.C., on Monday as traders look for hints about when the central bank will cut interest […]
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Bitcoin jumps as markets see increased odds of election victory for pro-crypto Trump
CFOTO | Future Publishing | Getty Images Bitcoin hit a two-week high Monday, as betting markets suggested an increased chance of victory for crypto-friendly candidate Donald Trump in the U.S. presidential election. The value of the world’s biggest cryptocurrency, bitcoin, was up around 5% at 1:40 p.m. London time, to $62,781.48, according to CoinGecko. The rally […]
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