Finance

Janet Yellen looked back on her year at the Federal Reserve and figured most of the boxes are checked: Accelerating economic growth, a solid employment picture and a stable financial system. The one job left undone? Inflation. At her final news conference as Fed chair Wednesday, Yellen said the Fed’s failure to bring inflation up
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Another day, another digital currency surge. Ripple, or XRP, leaped 37.5 percent from Tuesday’s close to a record high of 51.37 cents Wednesday, according to CoinMarketCap. The gains pushed ripple past litecoin into fourth place by cryptocurrency market capitalization at $18.23 billion, according to CoinMarketCap. Ripple last traded slightly off its highs around 47 cents,
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One of the leading Wall Street veterans now investing in cryptocurrencies said Tuesday he would sell digital currency litecoin after its surge. “I don’t think it will have the same legs that bitcoin would. I would sell it here versus buying bitcoin,” Michael Novogratz, formerly a macro hedge fund manager at Fortress Investment Group, said
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Microsoft and Google are among companies that have expressed private concerns to Qualcomm about a Broadcom takeover, according to people familiar with the matter. The companies are wary of Apple’s potential influence over a deal, said the people, who asked not to be named because the discussions are private. They’re also worried about Broadcom’s reputation
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President Donald Trump rejected the notion Friday that Wells Fargo would skate on penalties associated with claims of mortgage lending abuse. Reports circulated earlier this week that Mick Mulvaney, interim head of the Consumer Financial Protection Bureau, was reviewing prior settlements the agency had made in enforcement actions. Among them was a payout in the
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Bitcoin dropped to as low as $14,566.81 Friday just after 1:30 p.m. SIN/HK, according to industry site CoinDesk. That was a nearly 14 percent decline from earlier high’s on the day of $17,153.94, according to the site which averages prices from major exchanges. In fact, bitcoin had actually rocketed above $19,000 on Thursday on the
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Former Democratic Congressman Harold Ford Jr. was fired from Morgan Stanley for “conduct inconsistent with our values and in violation of our policies,” a spokesperson told CNBC Thursday. The firing came as the former lawmaker was facing allegations of misconduct, according to a report in The Huffington Post, which was the first outlet to report
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CNBC’s Jim Cramer said Thursday that he doesn’t blame investors for buying into the bitcoin frenzy, but once again he warned that the digital currency’s run could end badly. Earlier this week, Cramer said the cryptocurrency was a pure gamble, and those interested in it should just go to Vegas. Bitcoin rocketed even higher Thursday
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The “Fast Money” traders shared their first moves for the market open. Pete Najarian was a buyer of Wells Fargo. Tim Seymour was a buyer of Home Depot. Dan Nathan was a seller of the PowerShares QQQ Trust. Guy Adami was a buyer of Discovery Communications. Trader disclosure: On November 5, 2017 , the following
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Bank of America announced Tuesday that it plans to buy back another $5 billion of its stock through the middle of next year, and that is proof enough that tax reform is bound to fail, according to New York Democrat Sen. Chuck Schumer. The bank had already planned to buy back $12 billion of its
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Billionaire value investor Mario Gabelli’s love of media stocks is well-known, but on Monday he took to his Twitter account to test an idea. CNBC has been reporting that Disney had held talks with Rupert Murdoch’s 21 Century Fox about acquiring its studio and television production assets and hadn’t given up on striking some sort
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