China’s banking regulator chief warned that a “black swan,” or an unforeseen event could threaten the country’s financial stability, official People’s Daily reported on Wednesday. In an interview with the paper, Guo Shuqing said that while risks in the financial system are manageable, they are still “complex and serious.” Since his appointment as the head
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The worst intra-day market reversal in nearly a year might’ve spooked investors, but CNBC’s Jim Cramer argued that the market still has a major driver in its metaphorical back pocket. “I’m talking about the ongoing stock shortage,” the “Mad Money” host said. “The shortage is so real, so palpable, that I think it could become
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When it comes to college, most families assume public schools are far more affordable. That’s only partly true. At public, four-year institutions, costs for the 2017-18 school year hit $20,770, according to the College Board. Tuition plus room and board at four-year private universities was much higher: $47,000, on average, in the current academic year.
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In retirement, just like in real estate, it’s “location, location, location.” With more and more retirees responsible for their own financial security, choosing the right retirement destination can make or breakany lazy-day fantasies. To that end, WalletHub compared the retirement-friendliness of all 50 states using criteria such as cost of living, crime rate, tax-friendliness on
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BlackRock‘s Larry Fink and other CEOs are “extraordinarily hypocritical” to push companies for more social responsibility, billionaire investor Sam Zell told CNBC on Tuesday. The New York Times reported Fink will tell business leaders in a letter on Tuesday that their companies need to do more than just make profits. Companies need to contribute to
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Citigroup reported quarterly earnings on Tuesday that beat expectations on solid results from consumer banking. The big bank also reported a charge of roughly $19 billion following a revamp to the U.S. tax code. Citigroup reported adjusted earnings per share of $1.28 for the fourth quarter of 2017. Analysts polled by Reuters expected earnings to
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Barriers to Chinese overseas investment have risen over the past year, owing in part to the Trump administration’s “America First” agenda. The U.S. initiated an anti-dumping investigation against aluminium producers in China just last year. And even though China’s leaders have proclaimed support for economic “openness” on the global stage, the country has rules in
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CVS Health Monday said it will ban photo manipulation in its store-brand makeup marketing and promotional displays, a move that acknowledges growing awareness of the harmful nature of touched-up images. The nation’s largest drugstore chain will also require other makeup and beauty brands that sell products in its aisles to commit to a photo-manipulation ban
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Swiss bank UBS said Monday that President Donald Trump deserves praise for his pro-growth policies. Those efforts in making the U.S. a more business-friendly economy, which include the recently passed tax reform, are often under-appreciated, said Mike Ryan, UBS Wealth Management’s chief investment officer for Americas. But the president has “changed the perception of what’s
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Hong Kong and Macau are former European territories that are now managed as special administration regions of China. Beijing regards Taiwan as a renegade province. China annexed Tibet in 1950, although Beijing has claimed the Himalayan region has been an indivisible part of China throughout history. The current furor reflects Beijing’s increasing assertiveness internationally and
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