China has announced that it will eliminate ownership limits on automotive enterprises by 2023, allowing foreign investors to establish wholly foreign-owned enterprises (WFOEs) in the industry. According to the National Development and Reform Commission, ownership limits on new energy vehicles (NEVs) will be scrapped this year, commercial vehicles by 2020, and passenger vehicles by 2022....
China’s Belt and Road Initiative offers “many benefits” and “more investment” for Latin America, according to the head of the United Nations Economic Commission for Latin America and the Caribbean (ECLAC). Regional countries are beginning to assess the possibility of participating in this “great project,” in which China “has a lot to offer” in the...
Mark Zuckerberg said he will keep his role as chairman of Facebook’s board in an interview with CNN that aired Tuesday night. The New York Times reported last week how Facebook made attempts to deflect the controversies plaguing the company, ranging from the Cambridge Analytica scandal to how Russians attempted to use Facebook to influence...
In a week, shareholders will vote on whether Campbell Soup‘s board will face its most significant disruption in 64 years as a public company. Activist firm Third Point has been waging a proxy battle against Campbell, demanding that it put five of its nominees on its board. In this contest for Campbell, it is no...
Five Below Inc.: “We almost pulled the trigger and told the ActionAlertsPlus.com club that it was the right level to buy. I mean, this thing’s all the way down to $103. It is incredibly oversold. I like it here, just like I like some of the techs. I like that one.” Splunk Inc.: “This is...
Siri may not be living out its full potential under Apple’s wing, but voice-enabled assistants are nevertheless the future of digital technology, Siri’s co-founder and former CEO Dag Kittlaus told CNBC on Tuesday. Since Apple acquired Siri in 2010, “on the positive side, it’s a lot faster, the speech recognition’s gotten a lot better, but...
Federal Reserve Chair Jerome Powell is now equipped to pause the central bank’s interest rate hike agenda after December thanks to this debilitating sell-off, CNBC’s Jim Cramer said Tuesday. “Today’s sell-off gives Fed Chief Jay Powell the cover he needs to raise interest rates one more time next month and then put the next few...
Billy Beane, the general manager of the Oakland Athletics, is famous for using advanced, statistical analysis and software to gain a competitive edge in recruiting and to make up for his team’s limited payroll relative to the rest of the league. Beane, who was portrayed in “Moneyball,” Michael Lewis’ 2003 book, told CNBC’s Julia Boorstin...
Ten things need to change for the stock market to come back from its Monday declines, CNBC’s Jim Cramer said as high-profile technology stocks Facebook and Apple led the major averages lower. “When does this rout end? When do the buyers come in? When do the sellers finish?” he wondered aloud on “Mad Money.” “Frankly,...
The Trump administration’s mixed messaging on trade with China could result in increased tensions between the United States and the People’s Republic, CNBC’s Jim Cramer said Monday as the major averages endured a technology-led sell-off. After hearing the hard-line stance embraced by Vice President Mike Pence in his Oct. 4 speech at Washington’s Hudson Institute,...