Anyone out hunting for an affordable home today knows that the pickings are slim – and they are about to get slimmer. Housing inventory hit a record low about two years ago, but a lull in home sales over the past year helped build back much-needed supply, especially in the mid-priced range. Then a sharp […] Read more
The U.S. economy is actually looking “quite robust” thanks to a healthy labor market and higher consumer spending, Steve Schwarzman, the co-founder, chairman and CEO of Blackstone Group, told CNBC Monday. A slew of disappointing economic data last week suggested the ongoing U.S.-China trade war was starting to take its toll, fueling concerns of a […] Read more
India’s central bank on Friday cut its benchmark repurchase rate for the fifth consecutive time this year as it continues a concerted push to reinvigorate a stuttering economy. The Reserve Bank of India (RBI) lowered the repo rate by 25 basis points to 5.15% with five members of its Monetary Policy Committee voting in favor, […] Read more
Charles Evans, president and chief executive officer of the Federal Reserve Bank of Chicago, told CNBC Monday that he was “open-minded” when asked about the right level for interest rates in the U.S., but suggested more cuts could be needed if economic headwinds increase. Evans, noted for his dovish views at the central bank, was […] Read more
President Donald Trump was clearly surprised Monday — and asked “why?” — when Treasury Secretary Steven Mnuchin said U.S. officials asked members of China’s trade delegation to cancel a scheduled farm tour in the United States last week. American stock market indices plunged Friday on the news of the cancellation of the visit with farmers in […] Read more
Ukrainian President Volodymyr Zelensky is under pressure over how he will resolve a long-running dispute regarding a nationalized bank and its former oligarch owner. How he proceeds could be a “deal-breaker” as to whether Ukraine’s international creditor, the International Monetary Fund (IMF), gives the country a further much-needed aid program, experts say. The dispute centers […] Read more
Got extra stuff? Got extra space? A new company is ready to make a match. Neighbor, based in Salt Lake City, connects homeowners online with people who need storage space. Its CEO says the barely 2-year-old company is already seeing 500% annual growth. “Currently there are more storage facilities in the U.S. than there are […] Read more
American and Chinese investors’ appetite to deploy capital into each other’s projects and deals has dropped to a five-year low as trade tensions propelled the decoupling of the two economies. Investment between the United States and China plunged 18 per cent to US$13 billion in the first six months of 2019 and reached the lowest […] Read more
Despite rising concerns about growth this year, the CNBC All-America Economic Survey finds confidence in the economy holding up, dropping from the optimistic heights of last year but maintaining relatively strong levels. The survey of 800 people across the country, with a margin of error of plus or minus 3.5 percentage points, shows half believe […] Read more
Pharmaceutical giant Pfizer braced investors for little-to-no revenue growth in 2019 after its blockbuster erectile dysfunction drug Viagra, among others, lost patent protection and pain killer Lyrica faces similar competition from generic drugmakers this year. Shares of Pfizer fell 2.7 percent in premarket trading Tuesday even after the drugmaker announced fourth-quarter earnings that exceeded Wall […] Read more
