CNBC’s Sam Vadas reports on China’s property market after Beijing’s easing measures. Source link
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New Ford F-150 trucks go through the assembly line at the Ford Dearborn Plant on April 11, 2024 in Dearborn, Michigan. Bill Pugliano | Getty ImagesDETROIT — The automotive industry has become a crucial topic during the 2024 presidential election as Michigan — home of the Motor City and 1.1 million automotive jobs — remains a critical swing state.Vice President Kamala Harris, former President Donald Trump, and their running mates and supporters have made Michigan a second home in recent weeks as the campaigns attempt to win over undecided voters in the Great Lakes State.Since 2008, whichever candidate has won the…
The New York Stock Exchange welcomes Reddit, Inc. (NYSE: RDDT) to celebrate its initial public offering. To honor the occasion, Snoo, rings the Opening Bell®.NYSEThis report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here.What you need to know todayAlphabet and Reddit beat expectationsGoogle-parent Alphabet’s third-quarter earnings beat expectations. The company’s top line was boosted by its cloud division’s 35% jump in revenue from a year ago. Meanwhile, Reddit turned profitable in the…
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 rebound: Stocks are making a comeback since the opening lows, led higher by technology and the Nasdaq , which hit another record high. One reason behind the upside reversal may be the bond market. After almost ouching 4.33% on the 10-Year Treasury, yields began to dip and moved back below 4.3%. Honeywell : We’re also downgrading Honeywell to a 2 rating . After more reflection on the company’s third-quarter earnings…
Indian Prime Minister Narendra Modi (L) waves to supporters next to India’s Home Minister Amit Shah after filing his nomination papers to recontest the parliamentary seat in Varanasi on May 14, 2024.Niharika Kulkarni | Afp | Getty ImagesThe Canadian government alleged on Tuesday that Indian Minister of Home Affairs Amit Shah, a close ally of Hindu nationalist Prime Minister Narendra Modi, was behind the plots to target Sikh separatists on Canadian soil.The Indian government has dismissed Canada’s prior accusations as baseless, denying any involvement.The Washington Post newspaper first reported that Canadian officials alleged Shah was behind a campaign of violence…
A Volkswagen automobile factory stands on October 28, 2024 in Osnabrueck, Germany. Sean Gallup | Getty ImagesGerman automaker Volkswagen on Wednesday reported a 42% drop in operating profit in the third quarter.Operating profit fell to 2.86 billion euros ($3.1 billion), while third quarter sales revenues slipped 0.5% year on year to around 78.5 billion euros.Vehicle sales fell 8.3% in the third quarter of 2024 compared to the same time period a year earlier, Volkswagen said.Net liquidity across the Volkswagen Group stood at negative 160.6 billion euros at the end of September 2024, it said. The company’s net liquidity stood at negative…
Consumers grew more optimistic about the U.S. economy heading into the contentious presidential election even as job openings hit multi-year lows, according to separate reports released Tuesday.The Conference Board’s consumer confidence index for October rose more than 11% to a reading of 138, its biggest one-month acceleration since March 2021. Along with that, the board’s expectations index of future conditions jumped nearly 8%, to a reading of 89.1 that is well clear of the sub-80 level that indicates a recession.Economists surveyed by Dow Jones had been looking for a headline number of 99.5.”Consumers’ assessments of current business conditions turned positive,”…
Former President Donald Trump and Vice President Kamala Harris are shown on screen during a debate watch party at the Cameo Art House Theatre in Fayetteville, North Carolina, on Sept. 10, 2024.Allison Joyce | Bloomberg | Getty ImagesEuropean politicians and policymakers are busy preparing for more American protectionism regardless of who emerges as the next leader of the White House after elections next week.The presidential race has remained a dead heat going into its final few days, with polling consistently rating the candidates, Vice President Kamala Harris and former President Donald Trump, as being tied within key battleground states and…
Signage at the UBS flagship office in New York, US, on Tuesday, March 21, 2023.Bloomberg | Bloomberg | Getty ImagesSwiss banking titan UBS on Wednesday posted a large profit beat, after completing its first wave of client migrations following its integration of collapsed domestic rival Credit Suisse.Net profit attributable to shareholders came in at $1.43 billion, compared with a mean forecast of $667.5 million in a LSEG poll of analysts.Group revenue was $12.33 billion, above analyst expectations near $11.78 billion.Other third-quarter highlights included:Operating profit before tax of $1.93 billion, up from a loss of 184 million in the same quarter last…
Tax rises, spending boost: What economists expect Prime Minister Sir Keir Starmer during an ‘In Conversation’ event with Debbie Weinstein, managing Director Goole UK&I during the Labour Party Conference at the ACC Liverpool. Stefan Rousseau – Pa Images | Pa Images | Getty ImagesAfter months of commentary from Labour officials, economists are eyeing billions of new public spending and tax rises ahead.The party has already announced some of the areas it will gain extra tax revenue from, including changes to the rules on so-called “non-doms” whose permanent residence is outside of the U.K. for tax purposes; a higher energy profit levy;…
