Citigroup reported quarterly earnings on Tuesday that beat expectations on solid results from consumer banking. The big bank also reported a charge of roughly $19 billion following a revamp to the U.S. tax code. Citigroup reported adjusted earnings per share of $1.28 for the fourth quarter of 2017. Analysts polled by Reuters expected earnings to
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U.S. industrial conglomerate General Electric will take a $6.2 billion charge in its fourth-quarter results for a more than decade-old insurance portfolio covering long-term healthcare costs, the company said on Tuesday. GE, whose shares sank 3.7 percent in premarket on the news, said the charge would rise to $7.5 billion when adjusted for Congress’ newly-passed
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Stock markets are rallying, central banks are drifting to the exit as low inflation persists and economies are enjoying the benefits of synchronized growth — what could possibly go wrong? Surely 2018 is another so-called “Goldilocks” year for investors — not too hot, not too cold … just right, which means profits for retail investors
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CVS Health Monday said it will ban photo manipulation in its store-brand makeup marketing and promotional displays, a move that acknowledges growing awareness of the harmful nature of touched-up images. The nation’s largest drugstore chain will also require other makeup and beauty brands that sell products in its aisles to commit to a photo-manipulation ban
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Paul Ratje | The Washington Post | Getty Images A HaoBTC bitcoin mine site manager checks mining equipment inside their bitcoin mine near Kongyuxiang, Sichuan, China. China is targeting websites and mobile apps that offer cryptocurrency exchange-like services, it was reported Monday. Beijing plans to block domestic access to Chinese and offshore cryptocurrency platforms that
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Swiss bank UBS said Monday that President Donald Trump deserves praise for his pro-growth policies. Those efforts in making the U.S. a more business-friendly economy, which include the recently passed tax reform, are often under-appreciated, said Mike Ryan, UBS Wealth Management’s chief investment officer for Americas. But the president has “changed the perception of what’s
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Ireland says it can help U.K. companies that are concerned about losing the right to sell products into the European Union after Brexit comes into effect. “We’re saying to people, if there are difficulties, Ireland can be part of the solution for passporting,” Michael D’Arcy, minister of state at Ireland’s Department of Finance, told CNBC
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Hong Kong and Macau are former European territories that are now managed as special administration regions of China. Beijing regards Taiwan as a renegade province. China annexed Tibet in 1950, although Beijing has claimed the Himalayan region has been an indivisible part of China throughout history. The current furor reflects Beijing’s increasing assertiveness internationally and
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China will step up oversight in the banking sector this year to reduce financial risks, the country’s banking regulator said, stressing that long-term efforts would be needed to control banking sector chaos. The China Banking Regulatory Commission (CBRC) said late on Saturday in a statement that its priorities included increasing supervision over shadow banking and
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Indonesia’s central bank has issued a fresh warning about trading in cryptocurrencies like bitcoin because of the risk of losses to the public and even a potential threat to the stability of the financial system. Bank Indonesia (BI) has previously said that cryptocurrencies were not recognized as a legal medium of exchange, so that they
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After hours of marveling at the tape’s incessant march higher, CNBC’s Jim Cramer took a step back to check the market layout. “What’s driving it? … Same as always: [a] stock shortage — it’s really been acute in the industrials — 401(k) money being thrown at the market, animal spirits, a stronger consumer, tax reform,
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After hours of marveling at the tape’s incessant march higher, CNBC’s Jim Cramer took a step back to check the market layout. “What’s driving it? … Same as always: [a] stock shortage — it’s really been acute in the industrials — 401(k) money being thrown at the market, animal spirits, a stronger consumer, tax reform,
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The market rally has left RiverFront Investment Group Chief market strategist Kevin Nicholson bullish on earnings, but not complacent. Anticipating higher rate hikes from the Federal Reserve, Nicholson said RiverFront is moving investments into Europe and Asia. “We expect more volatility because last year, you had the fed raising rates from 0 to 1 percent
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Via: India Space Research Organization Water is critical to the future of spaceflight, and especially to human colonizing other planets. Beyond being necessary for life, water is one of the most efficient propellants. The results of the Arkyd-6 mission will teach Planetary Resources what it needs to know before launching exploratory crafts to asteroids near
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Samuel Kemp, Piper Jaffray: “We see this as the right long-term decision.” When people are selling the stock, they’re thinking: “This could lead to reduced Facebook engagement, ad impressions and therefore ad revenue,” according to Kemp. But Facebook still owns Instagram, and that could absorb any ads that don’t find a home on Facebook’s main
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