It has been a turbulent year for financial markets. But October has proved a particularly volatile month. In the space of eight trading sessions, the benchmark S&P 500 equity index experienced a daily move of 1% or more five times. Last Tuesday, the gauge surged 2.2% (its biggest gain since March) only to lose 1.4%...
Google considered its Project Dragonfly, the Chinese search product, as a means to reach “the next billion users” and was hoping for a launch in “six to nine months” although the future was “unpredictable”, according to a leaked transcript of a July 18th internal meeting. Ben Gomes, Google’s search engine chief, told employees that China...
China’s target to become the global leader in AI can be seen in many of its endeavors, among which is leading promising start-ups in facial recognition technology to deploy their applications in overseas markets. “We look forward to collaborating with SenseTime to grow our AI capabilities and drive the adoption of AI technology across Asia,” ...
HONG KONG – Billionaire Chinese actress Zhao Wei and her husband have been barred from taking on key positions at listed companies for five years for violating securities regulations, the Shanghai Stock Exchange said on Tuesday (Nov 20). The exchange’s announcement comes more than a month after another Chinese actress Fan Bingbing came under fire...
Investors are concerned about three key risks but they may be worrying for nothing, strategist Scott Wren told CNBC on Tuesday. The questions of whether there will be a policy mistake by the Federal Reserve, whether global growth is going to slow and whether there will be a margin squeeze have been weighing on investors,...
There is a greater chance of the Federal Reserve making a mistake these days, noted economist Mohamed El-Erian told CNBC on Tuesday. “There’s no doubt in my mind we are more vulnerable,” to a “policy mistake” by the Federal Reserve and a “market accident,” the chief economic advisor at Allianz said on “Closing Bell.” “That’s...
The Federal Reserve will likely ease up on its plans for multiple interest rate hikes next year, Wharton School finance professor Jeremy Siegel told CNBC on Tuesday. In addition to an anticipated rate rise in December, the central bank has indicated it plans three more in 2019. “The market is clearly worried about over-tightening of...
Check out the companies making headlines after the bell: Shares of Autodesk rose over 9 percent during the extended session Tuesday. The software design company reported earnings of 29 cents a share, slightly above analysts’ expectations of 27 cents a share. Autodesk reported $661 million in revenue, versus an estimate of $640 million. Foot Locker...
President Donald Trump once again took a shot at the Federal Reserve on Tuesday, saying he would like to see lower rates from the U.S. central bank in answering a question on the state of the economy and financial markets. “I’d like to see the Fed with a lower interest rate. I think the rate’s...
BEIJING – Beijing’s municipal government will assign citizens and firms “personal trustworthiness points” by 2021, state media reported on Tuesday (Nov 20), pioneering China’s controversial plan for a “social credit” system to monitor citizens and businesses. The system’s rollout has attracted international headlines, sparking comparisons to George Orwell’s novel “Nineteen Eighty-Four”, with critics saying it...