Sony stunned the games market by removing Cyberpunk 2077 from its online PlayStation store a week before Christmas, after one of the most expensive and anticipated titles in industry history was hit by technical problems. Analysts in Tokyo said Friday’s move was the first time they knew of the Japanese company pulling a so-called “triple-A”
Investing
Relative strength is a measure of the price trend of a stock or other financial instrument compared to another stock, instrument or industry. It is calculated by taking the price of one asset and dividing it by another. For example, if the price of Ford shares is $7 and the price of GM shares is
FedEx has laid bare the scale of the online shopping boom in the run-up to the peak US holiday season, producing its highest quarterly sales on record after the logistics group handled millions of additional packages and implemented surcharges on shipments. Earnings released on Thursday showed FedEx Ground, the company’s small-package ground delivery business in
Greece announced tighter restrictions in three towns in western Attica following a jump in coronavirus cases even though the country is in the sixth week of a nationwide lockdown. The night-time curfew will begin at 6pm on Friday in Eleusis, Mandra and Aspropyrgos, three hours earlier than before. Hospitalisations related to coronavirus have climbed to
Short-term investments can include a number of possible investment vehicles. Marketable equity securities are just one of the possible choices a company might make for short-term investments. Short-term investments vary widely among different businesses. Major corporations typically have billions of dollars in short-term investments that are managed by professional investment firms. For such corporations, cash management
The Securities and Exchange Commission on Thursday charged Robinhood with deceiving customers about how the stock trading app makes money and failing to deliver the promised best execution of trades. Robinhood agreed to pay a $65 million civil penalty, without admitting or denying SEC’s findings. The Silicon Valley startup, which has eventual plans to go public,
Another 885,000 Americans filed for first-time unemployment benefits last week, the highest level in three months, as fresh restrictions to combat the resurgence in coronavirus cases continue to strain the job market. Weekly jobless claims increased by 23,000, from 862,000 last week. Economists had expected claims to moderate to 800,000. That came alongside a rise
Global equities rallied on Thursday, as Covid-19 vaccine rollouts, central bank pledges and hopes of an end to political wrangling on both sides of the Atlantic helped to lift the investor mood. Wall Street’s benchmark S&P 500 was up 0.4 per cent by mid-morning, on track for its third day of successive gains, while the
Changes in interest rates can have both positive and negative effects on the markets. Central banks often change their target interest rates in response to economic activity: raising rates when the economy is overly strong, and lowering rates when the economy is sluggish. In the U.S., when the Federal Reserve Board (the Fed) changes the
Stock trading app Robinhood is being accused of reckless, exploitive business tactics on its young, millennial clientele. “The worst aspect of what they do clearly is they way they are gameifying the idea of investing,” Massachusetts Secretary of the Commonwealth William Galvin, who filed the compliant, told CNBC’s “Squawk Alley” Wednesday. “This is a very
Rio Tinto has named its finance director Jakob Stausholm as its next chief executive as the Anglo-Australian miner attempts to rebuild its reputation following an international outcry over the destruction of a sacred Aboriginal site. The promotion of Mr Stausholm, a Danish national who joined Rio in 2018 from shipping company AP Moller-Maersk, will surprise
This year of livestreamed auctions ended gently as the close-of-season Old Masters evening sales in London brought in slim totals compared with their contemporary and modern art counterparts. Sotheby’s fielded 27 lots that made a within-estimate £8.6m on December 10 (£10.6m with fees), while Christie’s 44 lots made a healthier total of £18.7m (£22.8m with
It’s an exciting time for investors who are interested in adding marijuana stocks to their portfolios. For one thing, people are learning more about the drug and how its use can be applied to the medical industry. This is leading to more relaxed attitudes about cannabis. But there are certain considerations associated with marijuana stocks
The Federal Reserve dialed up its economic expectations slightly for the end of this year as well as for 2021, according to the central bank’s Summary of Economic Projections released on Wednesday. The central bank now expects real gross domestic product to fall just 2.4% in 2020, compared to a decline of 3.7% predicted in
A group of 10 Republican-led US states has opened a new front in the US antitrust actions against Google, charging the internet group with abusing its monopoly over parts of the online advertising market and colluding with Facebook to shut out rival ad exchanges. The allegation that it worked with Facebook to carve up advertising
Jamie Smyth in Sydney New Zealand’s economy has powered out of a Covid-19 induced recession, growing by a record 14 per cent in the third quarter, reflecting authorities adept handling of the pandemic. A resurgence in household spending drove the recovery as the easing of some of the world’s toughest social distancing restrictions prompted 11.1
Trading euro-based currency pairs requires following events that can have a major impact on the euro (also known as the “common currency”), which can be a daunting task for foreign exchange (FX) traders. Currently, the euro is the official currency of 19 of the 27 member countries that comprise the European Union (EU). These 19
AST’s corporate headquarters and high-volume manufacturing facility in Midland, Texas AST & Science Special purpose acquisition company New Providence will take next-generation satellite broadband specialist AST & Science public through a SPAC deal that gives the space company an equity value of $1.8 billion, the firm announced on Wednesday. AST will list on the Nasdaq
Russia’s top retailers have imposed caps on food prices after the Kremlin moved to halt spiralling costs on essential goods — a move President Vladimir Putin says is crucial to compensate for years of falling incomes. X5 — which owns Russia’s biggest grocery chain Pyaterochka and supermarket Perekrestok — said it would drop commercial mark-ups
UK goods exports have lagged behind peer countries this year in both the EU and other significant markets across the world, according to Financial Times research that highlights the scale of the challenge facing Britain as it seeks post-Brexit trade deals. For example, during the six months to October, Italy became a larger exporter of
In a sharp reversal from yesterday, U.S. equity markets rallied hard throughout the day, closing near session highs. News of real progress on a slimmed-down $748 billion stimulus package added some optimism, as did the FDA’s endorsement of Moderna’s mRNA COVID-19 vaccine. Enhanced lockdown measures throughout Europe and in some U.S. cities did little to
David Solomon, CEO, Goldman Sachs, speaking at the World Economic Forum in Davos, Switzerland, Jan. 23, 2020. Adam Galacia | CNBC Goldman Sachs CEO David Solomon said that small businesses it surveyed are in dire need of another round of emergency Paycheck Protection Program funding. “They really have needs; 90% of them have exhausted their
BioNTech will supply 100m doses of its coronavirus vaccine to Chinese partner Fosun Pharma for use in mainland China next year in the country’s first publicly announced order of a foreign jab against the disease. Fosun Pharma said on Wednesday that Germany’s BioNTech would supply the doses for use next year to help inoculate China’s
Rio Tinto expects to achieve first production from the expansion of its giant copper mine in Mongolia’s Gobi Desert by October 2022 if it can reach an agreement on funding with its partners. The Anglo Australian company said on Wednesday that the budget for the first phase of the underground project at Oyu Tolgoi would
48.6 The latest reading of the New York City Recovery Index out of a possible score of 100. Editor’s note: Below you’ll find the week 10 release of the NYC Recovery Index, originally published Dec. 7, 2020. Visit the NYC Recovery index homepage for the latest data. New York City’s economic recovery remained relatively stagnant during the
CNBC’s Jim Cramer urged Congress on Tuesday to quickly pass another piece of coronavirus stimulus legislation, saying key parts of the economy need help until Covid-19 vaccines are widely administered. “We are so close to getting this economy back on track, but these places that close, they can’t flip a switch and open again. That’s
Index provider MSCI said it would drop seven companies that the US government has labelled as having ties to the Chinese military from its indices, after President Donald Trump barred US investors from holding stakes in such companies. MSCI said the seven — which included SMIC, China’s biggest chipmaker — would be removed from its
Matthew Rocco Hospitals in Pennsylvania and the south Atlantic are treating more Covid-19 patients than at any other point during the pandemic, as the region continues to battle an autumn resurgence of coronavirus. Pennsylvania counted 6,295 Covid-19 patients currently in hospital, up from 5,970 the day before and the highest level on record, data from
The sweet sound of 18-wheelers rolling out of Pfizer’s Kalamazoo, Mich. production plant with tens of thousands of doses of BNT162B2 — the scientific name of the drug giant’s COVID-19 vaccine — was not enough to drown out the fears of more economic lockdowns in Europe and the U.S. The DJIA and the S&P 500 gave up early gains
US congressional leaders are facing growing pressure to agree on compromise fiscal stimulus legislation, as support grew for a new slimmed-down package worth $748bn championed by a bipartisan group of senators. The proposal, which includes aid to small businesses and funding for unemployment benefits, represents a last chance before the holiday recess for an agreement