World
European markets close higher after ECB cuts rates for the third time this year
‘Probably more downside risk than upside risk’ to inflation forecast, Lagarde says There is “probably” more downside than upside risk to the ECB’s inflation forecast, the group’s President Christine Lagarde told CNBC’s Annette Weisbach during the post-decision press conference. Asked about recent warnings that the ECB now faces a return of its old challenge of […]
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Retail sales rose 0.4% in September, better than expected; jobless claims dip
Consumer spending held up in September, underscoring a resilient economy that is now getting a boost from the Federal Reserve, the Commerce Department reported Thursday. Retail sales increased a seasonally adjusted 0.4% on the month, up from the unrevised 0.1% gain in August and better than the 0.3% Dow Jones forecast, according to the advance […]
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UK regulator warns of big fines, service suspensions for tech giants ahead of new safety rules
Sebastien Bozon | AFP | Getty Images LONDON — Technology giants could face “significant” fines if they don’t comply with the U.K.’s internet safety regulations, which are set to enter into force in two months’ time, the British media regulator Ofcom warned Thursday. The Online Safety Act includes sweeping new rules that will force large tech […]
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Stock futures rise as traders await fresh economic data: Live updates
China property stocks drop after housing ministry briefing; most Asia-Pacific markets slip SINGAPORE 一 Most Asia-Pacific markets fell Thursday after a briefing from China’s housing ministry failed to impress investors, sending the country’s property stocks tumbling. The CSI 300 real estate index — which had gained over 5% on Wednesday — fell nearly 8%, while […]
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Auto giants launch a flurry of cheaper electric vehicles — taking the fight to China
Carlos Tavares, chief executive officer of Stellantis NV, beside a Citroen C5 Aircross Concept automobile at the Paris Motor Show in Paris, France, on Monday, Oct. 14, 2024. Bloomberg | Bloomberg | Getty Images PARIS, France — Several of Europe’s biggest carmakers unveiled low-cost electric vehicles (EVs) at the Paris Motor Show this week, seeking […]
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Intel faces headwinds in China as trade body calls for security probe
Intel products sold in China have been recommended for a security review by a local trade association that alleges the U.S. chipmaker poses “serious risks” to national security. In a statement on Wednesday evening, the Cybersecurity Association of China outlined alleged vulnerabilities in Intel’s CPU chips, claiming that flaws in product quality and security management show […]
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European Central Bank meets with third rate cut of the year expected
European stocks mixed, euro flat ahead of rate announcement Stock Chart IconStock chart icon Europe’s Stoxx 600 European stock markets were mixed at Thursday’s open, with the benchmark Stoxx 600 index eking out a 0.13% gain at 8:12 a.m. in London. Banks were the best-performing sector, up 0.75%. Germany’s DAX and France’s CAC 40 were […]
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TSMC third-quarter profit beats expectations as AI boom drives 54% hike
An image of a semiconductor wafer at the Taiwan Semiconductor Manufacturing Museum of Innovation in Hsinchu, Taiwan, on Jan. 11, 2022. I-Hwa Cheng | Bloomberg | Getty Images Taiwan Semiconductor Manufacturing Company on Thursday reported a 54% hike in net profit, as global chipmakers continue to benefit from demand boosted by AI applications. The company’s […]
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A tough new EU cyber law is off to a messy start, with many countries failing to adopt the rules
Businesses have been working hard to shift their culture internally to ensure they’re taking the threat of cyber breaches and outage incidents seriously. Andrew Brookes | Image Source | Getty Images New European Union regulations requiring businesses to bolster their cyber defenses is off to a slow start as many member states have failed to […]
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Uncovering the mysterious side of art pricing. ‘Everyone’s trying to make money’
Tetra Images | Getty Images Attorney J.D. Harriman is skeptical about some of the art market’s sales techniques. “There’s very little genuine information and data on pricing,” he told CNBC via video call. Prices for artworks are “rarely” displayed at galleries, he said. “When [galleries] have a new artist, they’re not going to post prices, […]
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