Business

After President Donald Trump disbanded his strategic and manufacturing councils as top CEOs denounced his reaction to the fatal violence at a Charlottesville, Virginia, protest, Jim Cramer expected the stock market to collapse. But it didn’t. Instead, the S&P 500 Index, the Dow Jones Industrial average and the Nasdaq composite all traded upward. Equities traded
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There has been much discussion over the last several years about the existence of “two Americas.” The politics of recent days notwithstanding, there are more likely three. Main Street, Wall Street and Washington are becoming ever more separated, operating, in many ways, entirely independently of one another. It’s most evident on Wall Street. Despite political
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While the global oversupply of oil continues to weigh on crude prices and suppressed stock prices for oil companies, the sector offers attractive value to investors, experts argue. “The sector has been underperforming, there’s great value, so you have to play the sector,” Beat Wittmann, partner at Swiss financial advisory Porta Advisors, told CNBC’s Squawk
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And it’s not just customers or employees they’re sending a message. Steph Curry, star guard for the NBA champion Golden State Warriors and the highest-profile athlete on Under Armour’s roster, tweeted a series of applause emojis after Plank’s announcement. In February, Curry issued a sharp rebuke when Plank talked up the president’s business bona fides
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Add Wal-Mart‘s CEO to the list of executives speaking out against President Donald Trump‘s response, or lack thereof, to protests in Charlottesville, Virginia, over the weekend. On Tuesday, Chief Executive Doug McMillon issued a statement saying the president “missed a critical opportunity to help bring our country together.” The same memo was sent to company
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Today, freelancers represent 35% of the United States workforce. In the European Union, the rate is 16.1%. Both figures demonstrate the same global trend: from creative entrepreneurs to those paid by the task, freelancing is on the rise worldwide. So, too, are analyses of this phenomenon, as journalists, sociologists, human resources specialists, life coaches, even
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“Germany’s economic success story goes on and on and on,” ING Bank analyst Carsten Brzeski said, adding there was very little reason to fear a sudden end to the current performance. He cautioned, however, that the main drivers supporting the domestic economy, such as rising employment, rising wages and increased government spending, could lose some
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Reuters Staff | Reuters Kyoto University Professor Hiroyuki Yano, who is leading research in making auto parts using wood, at his laboratory in Kyoto, Japan on July 25, 2017. The global push among carmakers to make ever lighter vehicles is leading some auto suppliers in Japan to turn to what seems like an unlikely substitute
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Merck CEO Kenneth Frazier resigned early Monday from the president’s American Manufacturing Council, citing his “responsibility to take a stand against intolerance and extremism.” While the president responded quickly via Twitter to Frazier’s decision, the move was met mostly by silence from other executives on the council. CNBC.com reached out to every executive listed on
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A UN report from earlier this year alleged that North Korean banks and firms have maintained access to international financial markets through a network of Chinese-based front companies. Coal exports from North Korea have since been stopped under UN sanctions, and the UN Security Council (including China) unanimously agreed further sanctions last Saturday. The most
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Video game developer Nintendo is being sued by a U.S. mobile gaming accessory company that claims the controllers for the Nintendo Switch console infringes on a patent it owns. Gamevice, which makes video game controllers to attach to tablets and smartphones, is demanding that Nintendo stops making and selling the Switch and wants to be
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Miraflores Palace via Reuters Venezuela’s President Nicolas Maduro speaks during a meeting with members of the Constituent Assembly in Caracas, Venezuela August 2, 2017. Venezuela’s President Nicolas Maduro has called on President Donald Trump to engage in a “personal conversation” just days after being hit with new sanctions by the U.S. The U.S. Treasury Department
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Lego has appointed Niels B. Christiansen to replace Bali Padda as chief executive, the Danish toymaker said on Thursday. Christiansen was chief executive of the unlisted Danish thermostat maker Danfoss until last month, a position he took up in 2008. Padda, who took over as chief executive for Lego eight months ago, was Lego’s first
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Regardless, NBC News said its source who was briefed on the nuclear assessment indicated that, despite Pyongyang having the ability to make a small nuclear weapon, it “does not mean that North Korea has fielded a nuclear-tipped intercontinental ballistic missile.” In February, researchers at Sejong Institute, a South Korean think tank, concluded that the North
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Just three months ago, disappointing department store earnings sparked an intense sell-off in retail stocks. In the week following each of their financial reports, Macy’s, Kohl’s, Nordstrom and J.C. Penney shaved a combined $3.71 billion from their market capitalization. While Kohl’s, Nordstrom and Penney’s have recouped losses since then, Macy’s still trades nearly 18 percent
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