Author: admin

Daniel ThomasBusiness reporter, BBC NewsGetty ImagesAlmost 80% of smartphones sold in the US are made in China Deena Ghazarian had only been in business for a year when the trade policies of President Donald Trump’s first term of office sent her company into a tailspin.It was 2019 and her California-based firm, Austere, had just agreed to supply several big US retailers with its high-end audio and video accessories that are largely manufactured in China.Then Trump imposed sweeping tariffs on China, and overnight Deena found herself paying a 25% surcharge on every cable and component she imported – up from zero…

The Canadian dollar rose against most major rivals today following the Bank of Canada’s interest rate decision.   The Bank of Canada cut overnight interest rates by 25 basis points to 2.75%, the lowest since July 2022.   It’s the seventh interest rate cut in the current BOC monetary easing cycle, as inflation remained near the bank’s 2% target.    Current inflation rates hover around 1.9%, and it comes amid uncertainty in the market and economic disruptions as US President Donald Trump imposes tariffs on steel and aluminum, which went into effect on Wednesday.   Trump repeatedly imposed 25% tariffs…

Salesforce should be able to continue to grow despite the impact of tariffs and a possible recession. The news Bank of America said in a note Wednesday that Salesforce is one of the stocks it would recommend in any environment due to the likelihood of seeing “growing revenue contribution from tangible AI product cycles.” According to analysts, software groups are historically more resilient in the quarters leading up to a recession. They said it tends to take two to three quarters into a recession before the industry experiences a slowdown in revenue and billings. The reason, BofA wrote, is that information…

Bitcoin rose on Wednesday away from four-month lows while settling above $80,000 on positive sentiment after more purchases by major corporations.    Now markets await mainline US inflation data for February, expected to provide fresh clues on the odds of a Fed rate cut in upcoming months.   Prices   Bitcoin rose 0.95% at Bitstamp today to $83,733, with a session-low at $81,268.   On Monday, bitcoin rose 5.5%, the first profit in six days away from a four-month trough at $76,600.   Crypto Market Value    The market value of cryptocurrencies rose by $30 billion today to $2.795 trillion. …

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Markets: Stocks are nicely higher Wednesday thanks to deeply oversold conditions and some good news on the inflation front. The consumer price index report for February came in slightly cooler than expectations, rising 2.8% year over year. Although the Federal Reserve is unlikely to adjust policy at its upcoming meetings in March and May, the latest data has the market feeling better about inflation, and expectations of a possible cut in…

The U.S. Treasury Building is seen from the Washington Monument on a cold, winter day on Jan. 21, 2025 in Washington, DC.Kevin Carter | Getty ImagesThe U.S. debt and deficit problem worsened during President Donald Trump’s first month in office, as the budget shortfall for February passed the $1 trillion mark even though the fiscal year is not yet at the halfway point.Government spending eased slightly on a monthly basis though it still far outpaced revenue, according to a Treasury Department statement Wednesday. The deficit totaled just over $307 billion for the month, nearly 2½ times what it was in…

The sky is not falling for Club name Eaton — even if the chart this year for the electrical equipment supplier suggests otherwise. The news KeyBanc upgraded Eaton to its buy-equivalent overweight rating after the company’s investor day Tuesday afternoon. The analysts said the stock’s recent pullback has created a “unique entry point into one of our highest-quality names.” Their price target of $340 a share implies about 20% upside from where shares closed Tuesday. However, that level is still $31 below its highest close of the year on Jan. 22, which was just days before the emergence of Chinese…

As we enter 2025, the S&P 500 index has captured the attention of investors on Wall Street with its climb to new record levels.   Last February, the upward momentum of one of the most important U.S. stock indices continued as it surpassed the 6,000‐point barrier for the first time in its history and recorded an all‐time high of 6,147 points.   This strong performance has raised investor optimism, but at the same time, it has led analysts to cautiously anticipate the index’s trajectory in the new year—especially in light of political and economic developments that could reshape the financial…

The investment represents MGX’s first entry into the cryptocurrency and blockchain sectorsBinance, the world’s largest cryptocurrency exchange, and MGX, the Abu Dhabi-based AI and advanced technology investor, have announced a landmark $2 billion investment.This transaction, the first institutional investment in Binance to date, marks a significant step in advancing digital asset adoption and reinforcing blockchain’s role in global finance. It is also the single largest investment into a crypto company and the largest investment ever paid in crypto (stablecoin).Stepping into crypto sectorThe investment represents MGX’s first entry into the cryptocurrency and blockchain sectors, securing a minority stake in Binance as…

Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Wednesday’s key moments. 1. Wall Street was mixed Wednesday as a reversal of recently stronger defensives sent the Dow into the red and battered tech rallied to keep the Nasdaq in the green. The market was sharply higher across the board earlier in the session, with cooler-than-expected consumer inflation data the focus over new tariffs. The latest reading on wholesale inflation is out Thursday morning. Jim said during the Morning Meeting that strength coming back into the market…