Copies of The Daily Telegraph newspaper on a newsstand in a store in London, UK, on March 12, 2024 (left), and UAE Vice President Sheikh Mansour bin Zayed Al Nahyan speaks at the United Nations Climate Change Conference (COP28) on December 1 2023.Getty ImagesDUBAI, UNITED ARAB EMIRATES – Palaces, university facilities, think tanks, sports teams – the UK is no stranger to Gulf money and the multibillion-dollar investments flowing from Qatar, the UAE and Saudi Arabia to British institutions.But newspapers? That's a tough stop, apparently. The latest investment pursuit flowing west from one of the UK's close allies in the…
Author: ricardofrancois
SpaceX launched the third test flight of its Starship rocket on Thursday and reached space, as the company pushed development of the giant vehicle past new milestones.Elon Musk's company launched the Starship at about 9:25 a.m. ET from its Starbase facility near Boca Chica, Texas.The missile flew farther than previous tests, lasting about an hour before the Starship crashed over the Indian Ocean. The company indicated that the car did not fall into the water, which was the intended end of the trip.”We've lost Ship 28,” Dan Hout, SpaceX's director of communications, said in the company's webcast.The flight represents an…
the main pointsTracy Britt Cole has been busy acquiring mid-sized companies, and now she wants to build a tight-knit community for these small businesses. The 39-year-old investor went into business on her own in 2020 after working for Warren Buffett for a decade. Her private equity firm Kanbrick focuses on companies with $5 million to $50 million in earnings before interest and taxes, in industries ranging from consumer to industrial to business services.Tracy Britt Cole has been busy acquiring mid-sized companies — companies that are too small for her old boss Warren Buffett at Berkshire Hathaway — and now she…
Wholesale prices accelerated faster than expected in February, another reminder that inflation remains a nagging issue for the US economy.The Labor Department's Bureau of Labor Statistics reported Thursday that the producer price index, which measures pipeline costs for raw, intermediate and manufactured goods, jumped 0.6% during the month. That was higher than Dow Jones' forecast of 0.3% and follows a 0.3% increase in January.Excluding food and energy, the core producer price index accelerated by 0.3%, compared with estimates for a 0.2% increase. Another measure that also excludes business services rose 0.4%, compared with a 0.6% increase in January, and was…
Portra | E+ | Getty ImagesSpring is just around the corner – and people looking for a new rental are facing a competitive market.Asking rent prices in the U.S. jumped to $1,959 in February, according to Zillow Group's latest rental market report. This represents an increase of only 0.4% from the previous month, but an increase of 3.5% from a year ago.The national rental vacancy rate remained steady at 6.6% by the end of the fourth quarter of 2023, according to the Federal Reserve.Vacancies have increased in some cities due to new construction, and more new apartment buildings are expected…
A cold storm from the Great Basin made its way into Southern California early Thursday, bringing strong Santa Ana winds that were already topping 70 and 80 mph in some areas. Two locations in the San Gabriel Mountains and foothills reached 80 mph early Thursday: the Magic Mountain Truck Trail and near the end of Haven Avenue north of Rancho Cucamonga, where recent wind gusts reached 82 mph, according to Alex Tardy, National Weather Service. Meteorologist in San Diego. North of Interstate 118 in the northern San Fernando Valley, winds reached 74 mph in Browns Canyon early Thursday, and east…
The Hong Kong Observation Wheel and the HSBC Building in Victoria Harbour, Hong Kong.UCG | Global Photo Collection | Getty ImagesHSBC The British bank's chief financial officer told CNBC that the bank is “very positive” about the medium- and long-term outlook for the Chinese economy despite the current headwinds.Growth in China over the past year was affected by the decline in the country's traditional economic pillars of real estate, infrastructure, and exports. This has prompted Beijing to intensify its efforts to boost domestic manufacturing and technology in a bid to modernize its economy and remain globally competitive.Speaking to CNBC's Karen…
A video of former President Donald Trump and President Joe Biden is played during a hearing of the select committee investigating the January 6 attack on the U.S. Capitol, in Washington, D.C., on June 13, 2022.Chip Somodevilla | Getty Images News | Getty ImagesWEST PALM BEACH, Fla. – Investor sentiment could run high in 2024, especially in politics as President Joe Biden and former President Donald Trump prepare for a rematch in this year's election.”Politics is becoming increasingly more emotional,” Moira McLachlan, chief investment strategist at AllianceBernstein's Wealth Strategies Group, said Wednesday at Financial Advisor magazine's Investing in Women conference…
The ECB should take its time to correct interest rate cuts and will have a clearer picture of inflationary pressures in June, the ECB's chief economist told CNBC.“A lot of evidence is accumulating, but it's also fair to say that moving out of this holding phase, we've been stuck since last September since a big hiking cycle, and we have to take our time to correct that,” Philip Lane told CNBC's Steve Sedgwick on Thursday. : “From continuing to reconnect with limitations.”Lane, the Governing Council member, said the euro zone central bank meeting in March was an “important milestone” in…
Federal Reserve Chairman Jerome Powell prepares to testify before the Senate Banking, Housing, and Urban Affairs Committee on March 7, 2024. Kent Nishimura | Getty Images News | Getty ImagesWEST PALM BEACH, Fla. – The US Federal Reserve is likely to start cutting interest rates by the end of the second quarter despite recent “hotter than expected” inflation data, according to Christina Huber, chief global market strategist at Invesco.The U.S. economy is also likely to avoid a recession as the Federal Reserve calibrates interest rate policy, she and other strategists said Wednesday at Financial Advisor magazine's annual Investing in Women…