DBS Group Holdings in the central business district of Singapore. Nicky Loh | Bloomberg | Getty Images The ongoing spread of a new coronavirus disease, recently named COVID-19, could hit the revenue of Southeast Asia’s largest bank this year, its chief executive said on Thursday. Piyush Gupta, the CEO of Singaporean bank DBS, said the
Month: February 2020
Charles Munger David A. Grogan | CNBC Charlie Munger, vice chairman of Berkshire Hathaway and Warren Buffett’s longtime business partner, issued a dire warning about the future on Wednesday. “I think there are lots of troubles coming,” he said at the Los Angeles-based Daily Journal annual shareholders meeting. “There’s too much wretched excess.” Munger —
PeopleImages Your ex-spouse can continue to cause you trouble long after the ink is dry on your divorce decree. Four out of 10 estate planners and attorneys pointed to “gray divorce” — that is, ending your marriage after age 50 — as putting a dent into boomers’ financial plans, according to a recent survey by
This is a live blog. Please check back for updates. All times below are in Beijing time. 7:55 am: Hubei province reports 14,840 new cases China’s Hubei province reported an additional 242 deaths and 14,840 new cases as of Feb. 12. The province said it is starting to include “clinically diagnosed” cases in its figures
Carnival Cruise Lines said Wednesday the deadly Chinese coronavirus could dent earnings this year by as much as 65 cents per share if the cruise line is forced to suspend its operations in Asia. “While not currently planned, if the company had to suspend all of its operations in Asia through the end of April,
David Solomon, CEO, Goldman Sachs, speaking at the World Economic Forum in Davos, Switzerland, Jan. 23, 2020. Adam Galacia | CNBC Goldman Sachs CEO David Solomon said that the stock market doesn’t yet care about Bernie Sanders’ surging campaign to become the Democratic presidential nominee. “Look at the markets,” Solomon told CNBC’s Deirdre Bosa on Wednesday.
Britain’s Prince Harry speaks at Windsor Castle in Berkshire, Britain May 6, 2019. Steve Parsons | Pool | Reuters Goldman Sachs is in discussions to feature Prince Harry as a guest speaker for its interview series “Talks at GS,” according to a person with knowledge of the situation. The Duke of Sussex will likely want
CNBC’s Jim Cramer on Wednesday blasted Bed Bath & Beyond‘s decision to announce disappointing same-store sales figures well ahead of its fourth-quarter earnings release. However, Cramer said investors could use the subsequent stock plunge as a buying opportunity. “I would buy it,” he added. Bed Bath & Beyond shares sank about 25% on Wednesday after
Sandy Nurse doesn’t see why she needs to be $120,000 in debt “just for trying to improve my understanding of the world.” And so, after a decade of struggling to repay her student loans, she plans to stop trying. She hopes others will join her, too, in a national strike against the country’s outstanding student
Oil jumped more than 3% on Wednesday as China reported the lowest number of new coronavirus cases since the end of January, easing concerns about a drop-off in demand for oil. Prices also got a boost as traders eyed potentially steeper production cuts from OPEC. U.S. West Texas Intermediate crude gained 3.5%, or $1.77, to
Harley Finkelstein, COO, Shopify Scott Mlyn | CNBC Canadian e-commerce company Shopify Inc on Wednesday posted better-than-expected quarterly earnings, helped by higher holiday sales, and forecast full-year revenue above Wall Street estimates, sending its U.S.-listed shares up about 9%. Shopify lets small businesses sell goods and services to customers by setting up stores on its
Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., January 10, 2020. Brendan McDermid | Reuters This is a live blog. Check back for updates. 9:31 am: Dow jumps 200 points to a record high The Dow Jones Industrial Average climbed 202 points at the open, hitting a
Exhausted road warriors look to airport hotels for convenience. But increasingly, those hotels want travelers to visit for reasons that go beyond ease of access. Essential needs remain constant, but a growing number of amenities, such as lavish spas and farm-to-table dining, tell of an evolving trend. Airport hotels, like Grant Hyatt at SFO, are
Varo is rolling out a new “no-fee overdraft” program on Tuesday. Mobile-only finance start-up Varo Money just got one step closer to becoming a full-scale bank. After three years and multiple rounds of applications, the FDIC approved the fintech company’s national bank charter application, which allows it to take customer deposits. “We see it as
Getting into college is one thing. Figuring out how to pay for it is another. Price has become a growing consideration among students and parents. Now, financial concerns govern decision-making for nearly 8 in 10 families, according to education lender Sallie Mae, outweighing even academics when choosing a school. At the same time, most students
Getty Images New York Governor Andrew Cuomo recently called the gig economy “abusive” and a “fraud” and proposed new rules to regulate the growing sector. The fear is that companies falsely call their workers independent contractors to skirt protections and benefits extended to traditional employees. A new report by my colleagues at the New School’s
Los Angeles-based public space and entertainment venue, Xbox Plaza. Jim Simmons Los Angeles, Calif.–Renowned architects Julie Smith-Clementi and Frank Clementi recently announced the launch of their new firm, Smith-Clementi, which will offer a full spectrum of place-based design. Both architects bring with them a robust portfolio of high profile projects, such as The Hollywood Bowl, The Music
A woman wears a protective mask as she rides a bicycle on February 11.2020 in Wuhan. Hubei province, China. Flights, trains and public transport including buses, subway and ferry services have been closed for the twentieth days. Getty Images This is a live blog. Please check back for updates. All times below are in Beijing
Shares of Twitter surged by 15% last Thursday after a record increase in quarterly user growth, but the social media company already has given back some of those stocks gains. That’s not a surprise, according to history, as big Twitter rallies in the recent past quickly reverse. Following similar one-day moves, Twitter shares are down,
Shoppers pass an Under Armour store in White Plains, New York. Scott Mlyn | CNBC Check out the companies making headlines in midday trading. Under Armour — Under Armour’s stock plunged more than 18% after missing revenue estimates for the fourth quarter. The sports apparel company reported adjusted earnings of 10 cents per share, in line
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