Prices across a broad range of goods and services edged higher in November but were mostly in line with expectations, further easing pressure on the Federal Reserve. The consumer price index, a closely watched inflation gauge, increased 0.1% in November, and was up 3.1% from a year ago, the Labor Department reported Tuesday. Economists surveyed … Read more
The incoming head of one of the world’s largest development banks says it must become faster and more efficient in order to finance priorities such as the climate transition and Ukraine rebuild. Nadia Calviño, Spain’s finance minister and deputy prime minister, was appointed head of the European Investment Bank Friday — in what has been touted … Read more
Signage is displayed outside the Broadcom offices on June 7, 2018 in San Jose, California. Justin Sullivan | Getty Images News | Getty Images This report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they … Read more
Occidental Petroleum on Monday agreed to buy CrownRock, a major privately held energy producer that operates in the Permian Basin, for $12 billion. The deal is latest in a spate of consolidation in the U.S .energy sector, particularly in the Permian, the largest oil-producing region in the U.S. The transaction is expected to close in … Read more
Wall Street analysts are saying it’s a great time to invest in two of our favorite industrial-focused stocks: Honeywell and Linde . Morgan Stanley on Monday raised its price target and kept its buy-equivalent rating on industrial gas and engineering firm Linde. The analysts said the chemicals industry is slowly coming out of a trough … Read more
Markets are confused over the odds of a U.S. recession, and “somebody has got it wrong,” according to hedge fund manager David Neuhauser. The CIO of Livermore Partners told CNBC on Monday that many investors are hoping for a “Goldilocks” scenario, in which the economy doesn’t grow too quickly, or shrink too much. “The outlook … Read more
Oracle shares are taking a hit in the aftermarket following another disappointing quarterly report. While earnings at the cloud infrastructure company edged out Wall Street estimates, sales once again came up short with three of the company’s four main operating segments underperforming, including its crucial cloud services division. Revenue for the second fiscal quarter of … Read more
It looks like Cigna has scrapped its takeover bid for Club holding Humana , removing a dark cloud over both stocks that’s lingered since the acquisition talks surfaced nearly two weeks ago. Cigna and Humana were unable to agree on an acquisition price and other financial terms, The Wall Street Journal reported Sunday. Cigna will … Read more
Michael Milken attends Prostate Cancer Foundation’s Dinner At Daniel on November 19, 2019 at Daniel in New York City. Paul Bruinooge | Patrick McMullan | Getty Images Famed investor Michael Milken expects the Federal Reserve will move slowly on monetary policy — if history is any guide. In fact, the Milken Institute founder expects the … Read more
Warren Buffett tours the floor ahead of the Berkshire Hathaway Annual Shareholder’s Meeting in Omaha, Nebraska. David A. Grogan | CNBC Warren Buffett’s conglomerate Berkshire Hathaway has reduced its stake in HP to 5.2%, according to a regulatory filing released Monday night. The conglomerate previously had a nine-day selling streak in mid-September through early October, bringing down the bet … Read more
