Pedestrians walk outside a Banca Monte dei Paschi di Siena SpA bank branch in Milan, Italy.Alessia Pierdomenico | Getty ImagesSiena, ITALY — Monte dei Paschi di Siena is holding firm on its plans to acquire Mediobanca for 13 billion euros ($14.3 billion) despite ongoing market turbulence, telling CNBC it will complete the deal in July.The world’s oldest bank still in operation, surprised investors in January by making an all-share offer for Mediobanca, a prestigious institution focused on wealth management and investment banking. Mediobanca has rejected the proposal, denouncing it as a “destructive” move that is devoid of financial rationale.Monte dei…
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In the six hours between the departure of the night’s last train and the arrival of the morning’s first one, workers in rural Japan built an entirely new train station. It will replace a significantly bigger wooden structure that has served commuters in this remote community for over 75 years.The new station’s components were 3D-printed elsewhere and assembled on site last month, in what the railway’s operators say is a world first. It may look more like a shelter than a station, but building one the traditional way would have taken more than two months and cost twice as much,…
CNBC’s Jim Cramer said on Monday that although he believes an economic recession is on the horizon, investors should stay the course rather than panic and sell.President Donald Trump’s new tariffs continued to roil stocks on Monday, with the Dow Jones Industrial Average posting a record-high intraday swing of 2,595 points before closing down about 350 points. The S&P 500 closed 0.2% lower, while the Nasdaq ended the day with a 0.1% gain.Cramer said the tariffs represent “real trouble” for the U.S. economy, but that he doesn’t expect a second Great Recession because institutions are still strong.”We don’t believe that…
BlackRock CEO Larry Fink speaks at the Economic Club of New York on April 07, 2025, in New York City. Spencer Platt | Getty ImagesBlackRock CEO Larry Fink said Monday that many business leaders believe the United States economy is already in a significant downturn.”Most CEOs I talk to would say we are probably in a recession right now,” Fink said at an event for the Economic Club of New York.”One CEO specifically said the airline industry is a proverbial bird in a coal mine — canary in the coal mine — and I was told that the canary is sick…
Asian and European defense stocks have been outperforming their U.S. counterparts.Guvendemir | E+ | Getty ImagesA quote from the 2008 TV series “Star Wars: The Clone Wars” goes: “Wars are not won with superior weapons, but with superior strategy.”However, the strategy now in the markets, it seems, is investing in weapons — specifically, by makers that are not based in the United States.Following the Trump administration’s rattling of long-held global alliances, countries have poured money into their own defense budgets, sending defense stocks higher.The rising tide of increased defense spending typically lifts all arms stocks, however European and Asian defense…
South Korea said on Tuesday that it would hold a snap election on June 3 to choose the successor to former President Yoon Suk Yeol, who was removed last week for his attempt to impose martial law.The country’s Constitutional Court formally dismissed Mr. Yoon on Friday when its eight justices unanimously endorsed his impeachment by the National Assembly in December.South Korea has since shifted its focus to the question of who should lead the country after months of political turmoil that have tested the resilience of its democracy and weakened its leadership. By law, South Korea must elect a new…
The ‘Fast Money’ talks Monday’s turbulent market action. Source link
The market has been through a housing crash, a dotcom bubble, a global pandemic, and the twin headwinds of the Russia-Ukraine war and runaway inflation in recent history, but no downturn caused by the policy of a U.S. president. That’s now changed.”This is the Trump recession.”Those were the words of a U.S.-based chief executive officer in response to a flash survey CNBC circulated among members of its CEO Council in the days after President Trump’s sweeping tariffs announcement Wednesday.Surprise over the tariffs’ size and a big response from China triggered two days of market panic and a 10% loss in…
U.S. President Donald Trump speaks during a meeting with Israeli Prime Minister Benjamin Netanyahu (not pictured) in the Oval Office at the White House in Washington, U.S., April 7, 2025. Kevin Mohatt | Reuters The meaning of the word “reciprocity” is being strained by the Trump administration. Not only did the White House use a bizarre formula to determine the degree of its “reciprocal” tariffs on other countries, but it also refused to return the favor when Vietnam and the European Union offered to remove tariffs on U.S. imports.White House trade advisor Peter Navarro said on CNBC’s “Squawk Box” that it’s…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailSteve Eisman, “The Eisman Playbook” podcast, joins ‘Fast Money’ to explain why he thinks the market selling is not overdone and how investors should be navigating politics and tariffs. Source link
