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Hong Kong media tycoon Jimmy Lai has been arrested for allegedly breaching the city’s new national security law in the most high-profile detention since the legislation was imposed by Beijing in June. Six others, including two of Mr Lai’s sons and other executives of Next Digital, Mr Lai’s media group, were also detained by the

Currency depreciation, in the context of the U.S. dollar, refers to the decline in value of the dollar relative to another currency. For example, if one U.S. dollar can be exchanged for one Canadian dollar, the currencies are described as being at parity. If the exchange rate moves and one U.S. dollar can now be

Spencer Platt | Getty Images As earnings season wraps up, analysts are reviewing their short-term and long-term take on the stocks they cover. While some companies delivered blowout quarters (see below), other stocks are suffering as global restrictions continue. And while government-backed stimulus programs can provide some relief, the truth remains that the pandemic- and

Saudi Aramco stuck by plans to pay out $75bn in dividends this year despite a 73 per cent drop in second-quarter earnings, as the coronavirus pandemic wreaked havoc on the finances of the kingdom’s state energy group. In the three months to June 30, the company reported net income of $6.6bn compared with $24.7bn in

Investing in foreign assets has proven the merits of diversification, and most individual investors take advantage of the benefits of international assets. However, unless the foreign securities have been issued in U.S. dollars, the portfolio will experience currency risk. Currency risk is the risk that one currency moves against another currency, negatively affecting an investment’s

The Securities and Exchange Commission is investigating Eastman Kodak‘s disclosure about getting awarded a $765 million loan from the U.S. government to start producing drug ingredients, which sent the stock up on heavy volume ahead of the official announcement, the Wall Street Journal reported Tuesday. On July 27, a day before Kodak, as well as President Donald

Warren Buffett’s Berkshire Hathaway reported a surge in profits in the second quarter as the value of its stock portfolio rebounded, offsetting a near $10bn writedown on its largest manufacturing business and a slide in operating earnings. The industrial conglomerate, which owns insurer Geico, the BNSF railroad and ice cream purveyor Dairy Queen, said net

Warren Buffett Gerry Miller | CNBC Investors are preparing for a variety of news in Berkshire Hathaway’s second-quarter earnings report this weekend, ranging from the possibility of record overall net income to weaker operating results from the conglomerate’s industrials companies. Wall Street also hopes that Berkshire, which is expected to report per-share earnings of $2.12

Economic conditions often inform the policy changes that governments elect to enact. And in the U.S. specifically, government policy has always had a large amount of influence on economic growth and the creation of new business entities. In the broadest sense, the economic activity of a country reflects what people, businesses, and governments want to

Motorcyclists pass a 1Malaysia Development Berhad (1MDB) billboard at the Tun Razak Exchange development in Kuala Lumpur, Malaysia, February 3, 2016. Olivia Harris | Reuters Goldman Sachs on Friday lowered its previously stated quarterly net earnings applicable to common shareholders to $197 million from $2.25 billion. The bank said in a filing it had set

The bulk of the new loans extended in early 2020 went to Ocap — a Singapore-based company run by a former Wirecard executive © REUTERS German prosecutors suspect Wirecard was looted before its spectacular collapse in June, with $1bn funnelled to opaque partner companies even as the payments group fought allegations of accounting fraud.

Source: Quicken Loans Rocket Companies, the parent of U.S. mortgage lender Quicken Loans, said its initial public offering (IPO) was priced at $18 per share on Wednesday, below a target range, and that it sold fewer shares than planned. Rocket sold 100 million shares to raise $1.8 billion in the IPO, which valued the company

The Monte Carlo model makes it possible for researchers from all different kinds of professions to run multiple trials, and, thus, to define all the potential outcomes of an event or a decision. In the finance industry, the decision is typically related to an investment. When combined, all of the separate trials create a probability

Goldman Sachs is renewing its push into Wall Street’s digital future. The firm made Mathew McDermott, a managing director who ran the investment bank’s internal funding operations, its new global head of digital assets last month, CNBC has learned exclusively. The appointment means the newest face of blockchain and cryptocurrency on Wall Street isn’t a

Microsoft is chasing a deal to buy all of TikTok’s global business, including the viral video app’s operations in India and Europe, according to five people with knowledge of the talks. The US software company said on Sunday it was in negotiations with ByteDance, the Chinese owner of TikTok, to explore “a purchase of the

Nikola Motor Company Source: Nikola Motor Company Nikola’s entire second quarter revenue of $36,000 was related to solar installations for Executive Chairman Trevor Milton, according to a filing with the Securities and Exchange Commission. “During the three months ended June 30, 2020 and 2019 the Company recorded solar revenues of $0.03 million and $0.04 million,

Senator Elizabeth Warren popularized the so-called “50/20/30 budget rule” (sometimes labeled “50-30-20”) in her book, All Your Worth: The Ultimate Lifetime Money Plan. The basic rule is to divide up after-tax income and allocate it to spend: 50% on needs, 30% on wants, and socking away 20% to savings. Here, we briefly profile this easy-to-follow

A sign is posted outside of the PayPal headquarters in San Jose, California. Justin Sullivan | Getty Images PayPal has hired Peggy Mangot, a former entrepreneur who led the development of a standalone mobile banking app at Wells Fargo, for its internal venture capital team, CNBC has learned. Mangot recently joined the online payments giant

The death toll from the explosion that ripped through Beirut climbed to at least 100 on Wednesday, while some 4,000 people were reported to have been wounded in the massive blast at the city’s port. Two fires were still burning at the scene of the explosion on Wednesday, which the authorities said took place at

CNBC’s “College Voices 2020” is a series written by CNBC summer interns from universities across the country about coming of age, launching new careers and job hunting during a global pandemic. They’re finding their voices during a time of great social change and hope for a better future. What money issues are they facing? How