Descendants of Standard Oil founder John D. Rockefeller are calling on the major banks to put an end to fossil fuel financing. Daniel Growald, Peter Gill Case and Valerie Rockefeller — fifth-generation members of the famed family — have launched BankFWD, which is a network of powerful individuals and institutions aimed at persuading banks to
Finance
People walk past the headquarters of the People’s Bank of China (PBOC), the central bank, in Beijing, China September 28, 2018. Jason Lee | Reuters BEIJING — As China recovers from the coronavirus pandemic, the country’s central bank is more open to increasing loans to an already debt-heavy system than it is to cutting back.
A man walks a dog in the shade away from the midday sun past the New York Stock Exchange (NYSE) building in Manhattan, during hot weather in New York City, New York, U.S., August 11, 2020. Mike Segar | Reuters Stock futures were flat in overnight trading on Thursday as investors await the latest retail
Randal Quarles Hailey Lee | CNBC Short-term funding markets seized up during the early days of the coronavirus pandemic, demonstrating that more reform is needed, the Federal Reserve’s chief banking overseer said Thursday. Commercial paper and prime money funds, which provide companies short-term funding and serve as key elements in the financial system, froze in
SINGAPORE — Shares of Big Hit Entertainment, the music label of K-pop superstars BTS, soared as they made their market debut in South Korea on Thursday. Big Hit Entertainment’s stock opened at opened at 270,000 Korean won (approx. $236) per share on Thursday, according to Refinitiv Eikon. That was double the stock’s issue price of
Economic forecaster Lakshman Achuthan sees evidence inflation is making a comeback. “It’s made a very clear cyclical upturn,” the Economic Cycle Research Institute co-founder told CNBC’s “Trading Nation” on Wednesday. He shows the trend in a special chart of his U.S. future inflation gauge, a proprietary leading indicator, and core CPI. According to Achuthan, the
A pedestrian wearing a protective mask walks past a Wells Fargo & Co. bank branch in New York, U.S., on Thursday, July 9, 2020. Peter Foley | Bloomberg | Getty Images Check out the companies making headlines midday on Wednesday: Wells Fargo — Wells Fargo shares dropped 5% after the banking giant reported a weaker-than-expected
Chinese President Xi Jinping Aris Messinis | Pool | Reuters BEIJING — Amid uncertainty about Hong Kong’s future and China’s international relations, President Xi Jinping maintained Wednesday that the country remains intent on doing business with the rest of the world, in its own way. In a speech that lasted nearly one hour, Xi made
Crossmark Global Investments’ Victoria Fernandez is concerned consumers may be on the verge of retreating. According to the firm’s chief market strategist, many of them have been relying heavily on savings as lawmakers tangle over another round of virus aid. She believes time is running out. “If you look at revolving credit as a percentage
The Disney+ (Plus) logo is seen displayed on a smartphone. Rafael Henrique | LightRocket | Getty Images Check out the companies making headlines in midday trading. Disney — Shares of the media giant advanced more than 4% after the company announced a major reorganization that will make streaming a “primary focus.” To accelerate its direct-to-consumer
Workers stand at the port of Qingdao, Shandong province, China June 10, 2019. Reuters BEIJING — China’s exports rose 10.2% in the third quarter from a year ago in yuan-denominated terms, the national customs agency said Tuesday. Imports rose 4.3% during that time, according to the data. China is set to release U.S. dollar-denominated trade
Bryn Mawr’s Jeff Mills suggests the market is at a critical crossroad — and it has little to do with earnings season. Rather, it’s the future of additional virus aid that would come from Capitol Hill. According to Mills, market leadership depends on it. “Multiple times this year we’ve had discussions about are we rotating
Check out the companies making headlines midday Monday: Dillard’s — Shares of the retailer surged more than 32% after one of Warren Buffett’s top lieutenants revealed a stake in the company. Ted Weschler’s stake is over 1 million shares, or about 5.89% of the outstanding stock, according to a securities filing. Twitter — Twitter shares
People wearing face masks walk along Qianmen street to shop during the country’s national “Golden Week” holiday in Beijing on October 5, 2020. Noel Celis | AFP | Getty Images BEIJING – Chinese tourists shopped more in their home country during the latest “Golden Week” holiday, as the coronavirus pandemic kept millions from traveling overseas.
IHT Wealth Management’s Yussef Gheriani believes now is a good time to consider adding travel plays to portfolios. Between cabin fever related to the pandemic and optimism surrounding effective coronavirus treatments, Gheriani speculates bookings will start meaningfully rising within the next couple of months. “People are going to be sitting down at home saying ‘Okay,
The Federal Reserve Bank of Boston’s President and CEO Eric S. Rosengren Keith Bedford | Reuters Years of low interest rates led to excessive risk taking in commercial real estate and will make the current economic downturn even more severe, Boston Federal Reserve President Eric Rosengren said Thursday. The central bank official said he expects
Jen-Hsun Huang, president and chief executive officer of Nvidia Corp., speaks during the company’s event at Mobile World Congress Americas in Los Angeles on Oct. 21, 2019. Patrick T. Fallon | Bloomberg | Getty Images Check out the companies making headlines after the bell Thursday: GenMark Diagnostics — GenMark shares popped more than 4% after
Stocks rose on Friday to end their best week in months as President Donald Trump signaled support for a bigger coronavirus aid package. The Dow Jones Industrial Average closed 161.39 points higher, or 0.6%, at 28,586.90. The S&P 500 gained climbed 0.9% to 3,477.13. The Nasdaq Composite advanced 1.4% to close at 11,579.94. Microsoft and Salesforce led
Take a look at some of the biggest movers in the premarket: Xilinx (XLNX) – Advanced Micro Devices (AMD) is in advanced talks to buy the specialty chipmaker, according to The Wall Street Journal. People familiar with the matter say such a deal could be worth more than $30 billion, with a transaction possibly coming together
Check out the companies making headlines in midday trading. Zoom Video — Shares of the video conferencing company gained more than 3% after Mizuho initiated coverage on the stock with a buy rating and $550 target. “We believe Zoom can continue to deliver outsized revenue growth due to its position as a market leader, its global