Oil’s ‘artificial’ surge to multi-year highs could spark a new crisis, economist warns
A sudden upswing in crude futures could be enough to fast-track the energy market’s next crisis, one economist told CNBC on Thursday. Oil prices soared to levels not seen since late 2014 on Thursday, following reports OPEC kingpin Saudi Arabia...
There’s ‘tremendous’ potential for city planning in the Middle East, says infrastructure exec
There’s great potential in the areas of urban and city planning in the Middle East, said the chief executive of Singapore-based urban and infrastructure consultancy Surbana Jurong on Thursday. The Middle East has been forward-looking when it comes to unusual...
Bitcoin is flashing a rare buy signal, crypto hedge fund manager says
The worst could be over for bitcoin, according to one of the best-known cryptocurrency hedge fund managers. Dan Morehead, CEO of Pantera Capital, said the digital currency has been growing at 165 percent per year in the five years the...
Ernst & Young partner files sexual harassment claim against firm after alleging 2015 groping
An Ernst & Young partner brought a claim against the firm, describing an event where she was assaulted and harassed by a male colleague, according to a filing with the Equal Employment Opportunity Commission on Wednesday. Jessica Casucci said in...
New York Fed chief Dudley sees two risks ahead for interest rate policy
Uncertainties surrounding trade and the federal budget will be the main challenges for Federal Reserve policymakers, outgoing New York Fed President William Dudley said Wednesday. As he prepares to leave his position in June, Dudley said in a speech that...
Fed: U.S. economic growth on track despite tariff concerns
“Robust” business borrowing, rising consumer spending, and tight labor markets indicate the U.S. economy remains on track for continued growth, the Federal Reserve reported on Wednesday, with the risks of a global trade war the one big outlier. In its...
The so-called smart money has started to sell at the end of the trading day, a bad sign for this bull
The so-called smart money has recently started to bail on the stock market at the end of the trading day, a leading indicator the bull run may be over. Jack Ablin, chief investment officer at Cresset Wealth, explains: The Smart...
Goldman CEO supports Trump’s effort to ‘even out’ US-China trade
Goldman Sachs CEO Lloyd Blankfein said President Donald Trump’s increased pressure on China regarding trade is not necessarily a bad thing. “I think the kind of pressure that’s being put to bear is fine,” Blankfein told CNBC Wednesday. “I understand...
Goldman Sachs CEO Lloyd Blankfein: Economy looks ‘awfully good’ and should keep growing
The economy is in good shape now and appears to have some staying power, Goldman Sachs CEO Lloyd Blankfein told CNBC on Wednesday. Despite worries that the 9-year-old bull market in stocks is coming to an end, the banking chief...
US growth rate won’t be enough to control the deficit, economist warns
Growth is looking good now, but it won’t be enough to save the U.S. from its out-of-control budget deficit, one chief economist warned, joining a growing number of market observers concerned about government spending and debt. “An honest accounting finds...
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