Vaccines will be the ‘most important’ economic policy this year, IMF chief says
LONDON — Vaccine policy will top all other economic polices this year as the world tries to recover from the coronavirus crisis, International Monetary Fund chief Kristalina Georgieva said Wednesday at CNBC’s Global Evolve Summit. “Vaccine policy this year, probably...
Mortgage refinances rebound as rates drop temporarily to lowest level in a month
Robin Azougi 1st R, a licensed real estate salesperson with Douglas Elliman Real Estate, talks with prospective buyers at a house for sale in Floral Park, Nassau County, New York, on Sept. 6, 2020. Wang Ying | Xinhua News Agency...
Former Barclays CEO’s fintech venture raises $187 million with backing from BlackRock and JPMorgan
Antony Jenkins, founder of 10x Future Technologies and former CEO of Barclays. Chris Ratcliffe | Bloomberg | Getty Images LONDON — The financial technology venture of former Barclays CEO Antony Jenkins has raised £132.5 million ($186.6 million) from investors in...
Producer prices climb 6.6% in May on annual basis, largest 12-month increase on record
Producer prices rose at their fastest annual clip in nearly 11 years in May as inflation continued to build in the U.S. economy, the Labor Department reported Tuesday. The 6.6% surge was the biggest 12-month rise in the final demand...
Homebuilder sentiment drops to 10-month low, as construction costs drive prices higher
Builder sentiment in June fell to its lowest level since August, as construction costs pushed new home prices higher, sidelining buyers and making it harder for some builders to get loans. The National Association of Home Builders/Wells Fargo Housing Market...
Stocks making the biggest moves in the premarket: Vroom, Ping Identity, Sage Therapeutics & more
Take a look at some of the biggest movers in the premarket: Vroom (VRM) – Vroom intends to offer $500 million in convertible senior notes due in 2026. The used-vehicle e-commerce platform provider plans to use the proceeds for a...
All-star investor Rich Bernstein warns bitcoin is a bubble, sees oil as the most ignored bull market
Institutional Investor Hall of Famer Richard Bernstein is sounding the alarm on bitcoin. He warns bitcoin is a bubble and crypto fever is pushing investors away from the market groups positioned to grab the biggest gains, particularly oil. “It’s pretty...
Paul Tudor Jones rips Fed on inflation, says credibility is at stake
The Federal Reserve is risking its credibility by keeping policy so loose and allowing inflation to grow in a way that may not be temporary, billionaire hedge fund manager Paul Tudor Jones told CNBC on Monday. This week could see...
Bank of America CEO Brian Moynihan says consumer spending is 20% higher this year than 2019
American consumers are spending more freely as the economy opens up further, Bank of America CEO Brian Moynihan said Monday. Transaction volumes on customers’ credit and debit cards and over the Zelle payment network have grown by 20% so far...
Bank of America’s Moynihan says the Fed can pull back on policy help
Bank of America CEO Brian Moynihan encouraged the Federal Reserve to ease up on its ultra-easy monetary policy, saying Monday that the urgency for the pandemic-related response is abating. Speaking a day before the central bank begins its June policy...