Swing traders were aggressively buying banking shares in the UAE for a second day on Monday as the government decided to consolidate debts that its citizens owed to the government. Traded value on the Dubai Financial Market (DFM) jumped to Dh355 million due to buying in banks from a paltry Dh80 million in the previous […] Read more
New York City’s deputy mayor for housing and economic development, Alicia Glen, told CNBC on Friday, her last day in office, that she’d like to see more women running big companies — and if that were the case, deals like the now-scuttled Amazon headquarters plans for Queens might have different outcomes. “Maybe if there weren’t […] Read more
The amount of $100 bills in circulation is surging. And it’s leaving some economists scratching their heads. The number of outstanding U.S. $100 bills has doubled since the financial crisis, with more than 12 billion of them across the world, according to the latest data from the Federal Reserve. C-notes have passed $1 bills in […] Read more
At 95, Charlie Munger is best known for his steady role as the right-hand man of investing legend Warren Buffett. As the vice chairman of Berkshire Hathaway, Munger is worth $1.7 billion, according to Forbes. In addition to the his role alongside Buffett, Munger is chairman of the publisher the Daily Journal Corp. and is […] Read more
British teenagers expect to earn as much as £70,000 a year ($89,750) by the time they hit 30, a figure that’s a lot higher than the current national average, according to a survey published by financial services provider OneFamily this week. For teenagers expecting to earn “a lot” of money by their thirties — which […] Read more
Markets have been mixed in their response to President Trump’s combative State of the Union address while investors shift their attention to any signs for the economy from Federal Reserve chair Jerome Powell. European shares sunk lower after disappointing results from BNP Paribas and Daimler. The Australian dollar plunged 1% after the central bank opened […] Read more
Tesla needs to get cracking on a cheaper car. The electric vehicle maker said Friday it plans to cut about 7 percent of its workforce, which by the last company headcount would equal about 3,100 jobs. The plan is to cut costs and get closer to making the $35,000 Model 3 the company has been […] Read more
The U.S. economy slowed in the third quarter a bit more than previously estimated, but the pace was likely strong enough to keep growth on track to hit the Trump administration’s 3 percent target this year, even as momentum appears to have moderated further early in the fourth quarter. Gross domestic product increased at a […] Read more
Prime Minister Theresa May was grappling with the biggest crisis of her premiership on Friday after a draft divorce deal with the European Union provoked the resignations of senior ministers and mutiny in her party. More than two years since the United Kingdom voted to leave the EU in a shock referendum, it is still […] Read more
Consumer spending in advanced economies seems to be on the upswing, buoyed by healthy economic activity and improved labor markets. However, rising tariffs and slow real-wage growth could play spoilsport. Consumers in advanced economies appear to be back with a bang. In the United States, personal consumption expenditure grew 4.0 percent (at a seasonally […] Read more
