Finance

Big banks continue to be a profitable group despite being immensely disliked on the Wall Street, CNBC’s Jim Cramer said Monday. “I think this group is hated,” Cramer said on “Squawk Box,” shortly after Bank of America reported better-than-expected second quarter earnings. “More hated than I’ve seen than any other time other than 2009 and
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Europeans are flouting the trading clout they have. They, for example, don’t want to reduce their 10 percent import tax on U.S. automobiles to the 2 percent the U.S. charges on EU-originating motor vehicles. Put very briefly, Trump is wasting time trying to change the existing trans-Atlantic trading regime. He should simply tell the German
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Coinbase, the largest cryptocurrency exchange in the U.S., is considering adding five new tokens to its platform. The five digital coins include cardano, basic attention token, stellar lumens, Zcash and 0x. “It wouldn’t surprise me to see these things up 20, 30, 40 percent over the weekend,” digital trader Brian Kelly said Friday on “Fast
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The bank’s recent charge may indicate that consumers are simply getting smarter with rewards programs, according to Bankrate.com chief financial analyst Greg McBride. In online forums devoted to credit-card usage, consumers boast about using spreadsheets and smartphone apps to stay on top of their credit. “There’s a subset of savvy credit-card users who are diligent
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Getty Images Facebook CEO Mark Zuckerberg speaks during the F8 Facebook Developers conference on May 1, 2018 in San Jose, California. Facebook’s market leading position in the advertising market is unmatched, according to Jefferies. The firm raised its price target to $240 from $215 for Facebook shares, predicting its second-quarter sales results will be above
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The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of Twitter Karen Finerman was a buyer of JPMorgan Brian Kelly was a buyer of the S&P Regional Banking ETF Guy Adami was a buyer of CBS Trader disclosure: On July 12, 2018 the following stocks and commodities
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Patrick Fallon | Bloomberg | Getty Images Broadcom Corp. signage is displayed outside of the company’s headquarters in Irvine, California. Check out the companies making headlines after the bell: Shares of Broadcom fell as much as 6 percent in the extended session, after the Wall Street Journal reported the chipmaker was nearing a deal to
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But the more devastating impacts of pedal-to-the-metal digital capitalism fall on the environment and global poor. The manufacture of some of our computers and smartphones still uses networks of slave labor. These practices are so deeply entrenched that a company called Fairphone, founded from the ground up to make and market ethical phones, learned it
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Scott Eells | Bloomberg | Getty Images Seth Klarman, founder of the Baupost Group Hedge fund manager Seth Klarman’s classic investment book “Margin of Safety” is being sold illegally on Amazon’s e-book platform. On Tuesday Klarman’s firm, Baupost, said the book listing on Amazon was not legitimate. “The Kindle version of Margin of Safety: Risk-Averse
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Cryptocurrency conversion platform Bancor has suffered a “security breach” that saw $13.5 million worth of digital tokens stolen. The Israeli start-up said Monday that a cryptocurrency wallet on its network had been compromised, leading to the theft of $12.5 million worth of ethereum and $1 million worth of the lesser-known token Pundi X. Ethereum has
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Utilities lead sector gains over the past month, up more than 10 percent against the S&P 500’s 0.4 percent decline. The recent rise in stock price for companies like NextEra and Duke Energy has steadily tracked falling interest rates over the same period. The Utilities Select Sector SPDR exchange-traded fund has appreciated 9.7 percent. Alternatively,
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Gemini Trust, the cryptocurrency exchange founded by brothers Tyler and Cameron Winklevoss, named NYSE’s top technology executive to be its first chief technology officer, another sign the wild west digital currency sector is moving more mainstream. Robert Cornish was NYSE’s chief information officer, a role that oversaw the Big Board’s ongoing electronic trading overhaul. He
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