Chinese state media claims victory in trade dispute so far, saying Beijing’s tariffs will hurt Trump voters

Chinese state media was quick to note what it sees as Beijing’s edge in the increasingly tense trade relationship between the world’s two largest economies. “China stands firm and wins first battle of Sino-US trade war,” China’s official People’s Daily newspaper said in the headline of a Chinese-language article Thursday. Beijing’s tariffs “hit [Trump] where […]

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India’s central bank bans financial firms from dealing with cryptocurrency

Punit Paranjpe | AFP | Getty Images An Indian policeman stands guard at the entrance of the Reserve Bank of India (RBI) head office in Mumbai on October 4, 2017. Regulated financial institutions in India can no longer legally deal with cryptocurrencies, the Reserve Bank of India announced Thursday. “In view of the associated risks, […]

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Shares of Citi and Wells Fargo rise after UBS upgrades both to buy

Shares of Citigroup and Wells Fargo rose Thursday after an analyst at UBS upgraded both stocks to buy. Citigroup’s stock was up 1.1 percent, while Wells Fargo gained by 0.9 percent. UBS changed its rating on Wells Fargo from neutral to buy but lowered its price target from to $60 from $63. The new target […]

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Stifel downgrades Intel on worries its computer-server business is ‘peaking,’ upgrades AMD

Stifel lowered its rating for Intel, noting the company could face pressure as the upgrading cycle in its computer-server business peaks. At the same time, the investment bank increased its rating on competitor Advanced Micro Devices. “While we may be early on this, we believe the upgrade cycle may peak in 2H18,” analyst Kevin Cassidy […]

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NYSE owner agrees to buy the Chicago Stock Exchange

Jin Liee | Bloomberg | Getty Images Intercontinental Exchange, the owner of the New York Stock Exchange, announced Thursday it has an agreement to buy the Chicago Stock Exchange. “We are pleased to enter this agreement with the world’s leading exchange operator,” said John Kerin, CEO and president of the Chicago Stock Exchange. “ICE is […]

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Japan is planning new rules for legalizing controversial cryptocurrency fundraising

Chesnot | Getty Images Digital cryptocurrencies, Bitcoin, Ripple, Ethernum, Dash, Monero and Litecoin. Japan unveiled proposed guidelines for the legalization of a controversial means of raising money in the cryptocurrency space. A government-backed research group has put forward rules that would see initial coin offerings (ICOs) given regulatory definition and approval. An ICO is a […]

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Winter storm to hit U.S. East, snarling traffic, closing schools

Here comes round four. Millions of commuters along the U.S. East Coast will face another round of heavy snow, ice and wind gusts on Wednesday when another major snow storm this month strikes the region, closing schools, grounding flights and halting buses and trains. The nor’easter storm is on track to dump up to a […]

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Signs that the economy’s potential has strengthened might mean rates rising higher than earlier thought

Jerome Powell heads for his first interest rate increase as Federal Reserve chairman this week with an unanswered question looming above others: could his optimism about the U.S. economy lead to more hikes than markets have prepared for? Powell’s public comments and Reuters conversations with his Fed colleagues since January, when he was confirmed as […]

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Trade war with China would be ‘devastating’ for American families: US Chamber of Commerce

A day after President Donald Trump slammed South Korea last week for benefiting unevenly from its trade relationship with the US, the largest American business association shot back. Embedded in an article the US Chamber of Commerce published to commemorate the sixth anniversary of the US-Korea Free Trade Agreement, also known as KORUS, was a […]

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Facebook, Twitter and Snap take hits: Social media crackdown imminent?

Regulatory pressure on Facebook (FB) is intensifying, and its social media peers are affected as well, at least when it comes to the price of their stocks. Facebook is facing controversy surrounding how a third party accessed and stored the information of 50 million users. According to Bloomberg, the Federal Trade Commission (FTC) could investigate […]

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