North Korea could account for nearly a quarter of a unified Korean Peninsula’s economy one day, UBS says
North Korea could account for up to 24 percent of the Korean Peninsula’s total gross domestic product in 20 years under reunification with the South, UBS estimated in a report this week. The rogue state currently accounts for 1.1 percent...
Pending home sales drop for fifth straight month in May
Potential home buyers pulled back from a pricey and competitive housing market in May, signing fewer contracts to buy existing homes. A monthly index of so-called pending home sales from the National Association of Realtors fell 0.5 percent compared with...
Less than half of US millionaires think economy will end the year stronger, CNBC survey reveals
America’s millionaires are less bullish about the U.S. economy than they were a year ago. The latest CNBC Millionaire Survey found that 44 percent of Americans with $1 million or more in investable assets think the economy will be stronger...
New orders for key US-made capital goods and shipments fell unexpectedly in May
New orders for key U.S.-made capital goods and shipments unexpectedly fell in May, but data for the prior month was revised higher, suggesting moderate growth in business spending on equipment in the second quarter. Other data on Wednesday showed a...
Treasury Secretary Mnuchin says he’s expecting a ‘big’ GDP number
Treasury Secretary Steven Mnuchin is optimistic on U.S. economic growth. “We’re excited. This is the six month anniversary of tax cuts. We’re expecting a big second quarter GDP number,” he said on CNBC’s “Squawk Box” on Wednesday. “Let me just...
Mnuchin: All Trump advisors are united on this China tech crackdown, any mixed messages ‘unfortunate’
Treasury Secretary Steven Mnuchin told CNBC on Wednesday it was “unfortunate” if Wall Street got mixed messages ahead of the newly unveiled Chinese investment restrictions. But he said all of President Donald Trump’s advisors were unanimous on the decision, which...
Trump’s plan to crack down on foreign investment is much less harsh than expected
The White House won’t be looking to block companies with at least 25 percent Chinese ownership from buying certain U.S. tech-related companies. Instead, the government will rely on the newly strengthened Committee on Foreign Investment in the United States to...
Apple co-founder Steve Wozniak says the hype around blockchain signals a bubble
Apple co-founder and noted bitcoin bull Steve Wozniak says the hype around blockchain is similar to what he saw in the dotcom era, with companies going belly-up at a rapid rate. “It was a bubble, and I feel that way...
Investing in soccer may be wise, says Goldman Sachs investment banking co-head
If you’re wealthy enough to buy a National Football League franchise, you might want to consider Major League Soccer instead. According to Gregg Lemkau, co-head of investment banking at Goldman Sachs, the value of NFL teams has been stable but...
Bidding war between Comcast and Disney for Fox assets has raised Rupert Murdoch’s tax bill
The bidding war between Comcast and Disney for Fox assets is costing Rupert Murdoch billions of dollars. Disney raised its bid for pieces of Twenty-First Century Fox to $71.3 billion, up from its original offer of $52.5 billion. This was...
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