Category سی ان بی سی

Spotify CEO to invest over $1 billion of his own wealth for ‘moonshot’ bets in Europe

Spotify CEO Daniel Ek
Toru Yamanaka | AFP/Getty Images

LONDON — Spotify CEO Daniel Ek announced Thursday that he will commit 1 billion euros ($1.2 billion) of his own resources to invest in European start-ups.

Speaking at a virtual talk hosted by start-up event organizer Slush, Ek said he would use the funds to make “moonshot” bets in the continent, focusing on deep technology — new tools that are focused on scientific innovation. Among the sectors Ek is looking to invest in are health, education, machine learning and biotechnology.

“I want to do my part; we all know that one of the greatest challenges is access to capital,” Ek said, adding he wanted to achieve a “new European dream” — akin to that of the American Dream — over the next decade.

According to Forbes, E...

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Here’s where things stand with the messy TikTok deal

A federal judge has asked the U.S. government whether it will delay an upcoming ban on the viral video-sharing app TikTok or defend its policy in court over the weekend.

It’s the latest development in the TikTok saga which has ramped up tensions between China and the U.S. and led to a complicated and fluid deal for the social media app, owned by a Chinese parent company ByteDance. 

Here’s a rundown of where we are right now in this story which is constantly changing.

Why is there a deal?

Washington maintains that TikTok, under ByteDance’s ownership, represents a national security threat because American user data could be sent back to China. This is a claim that TikTok has repeatedly denied.

On Aug. 6, U.S...

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Dow futures rise as market tries to avoid losses for the week

A woman rides past the New York Stock Exchange (NYSE) on July 13, 2020 at Wall Street in New York City.
Johannes Eisele | Getty Images

U.S. stock futures rose slightly on early Friday morning as the market indexes tried to avoid a fourth consecutive week of losses. 

Futures for the Dow Jones Industrial Average gained 86 points. Contracts tied to the S&P 500 and the Nasdaq Composite also traded in mildly positive territory.

The move in futures comes after the three major U.S. indexes held on to slight gains during a choppy session Thursday but were still negative for the week. The Nasdaq Composite slightly outperformed, gaining about 0.4%, and has also been the best performing index this week.  

That outperformance for the tech-heavy index is a reversal from earlier during t...

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China is set to join FTSE Russell’s flagship global bond index next year

A Chinese national flag seen in front of Oriental Pearl Tower in Shanghai on September 8, 2019.
Alex Tai | SOPA Images | LightRocket via Getty Images

SINGAPORE — Major index provider FTSE Russell said Thursday it will add Chinese government bonds to its flagship World Government Bond Index from October next year — a development that will bring billions of dollars of inflows into China.  

The inclusion — which will be China’s third entry into a major global bond index — comes at a time when investors are hunting for yield in an environment of ultra-low interest rates. Several investors estimated that at least $100 billion will flow into China after its bonds debut on the FTSE Russell index.

“I think this is another important landmark in China’s … internationalization...

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Jim Cramer says Nvidia is a buy here, cites ‘unstoppable’ potential of Arm acquisition

CNBC’s Jim Cramer advised investors Thursday to consider buying the stock of Nvidia, which earlier this month announced a blockbuster acquisition of chip designer Arm Holdings. 

Nvidia’s stock popped about 5% in the first day of trading after the deal, worth $40 billion, was publicized. But the stock has given back those gains, ending Thursday’s session about 4% below that Sept. 14 close, in what has been a tough month for Wall Street overall. 

The “Mad Money” host said the biggest question right now is not whether the deal makes sense for Nvidia but whether the chipmaker will receive the necessary approvals by regulators around the world. 

“If Nvidia can close on Arm Holdings, the stock’s gonna be unstoppable even after its magnificent multiyear run,” Cramer said...

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China’s growing economic and military strength can be a ‘dilemma’ for U.S. investors

A PLA Navy fleet including the aircraft carrier Liaoning, submarines, vessels and fighter jets take part in a review in the South China Sea on April 12, 2018.
VCG/VCG | Getty Images

As China grows in its economic and military strength, global investors and companies operating in the country face a dilemma, according to one analyst.

“China is converting its economic growth into military power, and I think here is the true dilemma for those that seek to invest in China. It’s understanding precisely what you are investing in, what is going on here,” said Jonathan Ward, founder of advisory firm Atlas Organization.

Speaking at the inaugural Jefferies Asia Forum last week, Ward said there are many Chinese corporations — including those in the aerospace, tech and construction indu...

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Dow futures rise more than 100 points as market tries to avoid losses for the week

A woman rides past the New York Stock Exchange (NYSE) on July 13, 2020 at Wall Street in New York City.
Johannes Eisele | Getty Images

U.S. stock futures rose slightly on Thursday evening as the market indexes tried to avoid a fourth consecutive week of losses. 

Futures for the Dow Jones Industrial Average gained about 110 points, or 0.5%. Contracts tied to the S&P 500 and the Nasdaq Composite ticked up 0.5% and 0.6%, respectively.

The move in futures comes after the three major U.S. indexes held on to slight gains during a choppy session Thursday but were still negative for the week. The Nasdaq Composite slightly outperformed, gaining about 0.4%, and has also been the best performing index this week.  

That outperformance for the tech-heavy index is a reversal from earlier...

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Dow rises 100 points as market tries to avoid losses for the week

A woman rides past the New York Stock Exchange (NYSE) on July 13, 2020 at Wall Street in New York City.
Johannes Eisele | Getty Images

U.S. stock futures rose slightly on Thursday evening as the market indexes tried to avoid a fourth consecutive week of losses. 

Futures for the Dow Jones Industrial Average gained about 110 points, or 0.5%. Contracts tied to the S&P 500 and the Nasdaq Composite ticked up 0.5% and 0.6%, respectively.

The move in futures comes after the three major U.S. indexes held on to slight gains during a choppy session Thursday but were still negative for the week. The Nasdaq Composite slightly outperformed, gaining about 0.4%, and has also been the best performing index this week.  

That outperformance for the tech-heavy index is a reversal from earlier...

Read More

Dow futures rise 100 points as market tries to avoid losses for the week

A woman rides past the New York Stock Exchange (NYSE) on July 13, 2020 at Wall Street in New York City.
Johannes Eisele | Getty Images

U.S. stock futures rose slightly on Thursday evening as the market indexes tried to avoid a fourth consecutive week of losses. 

Futures for the Dow Jones Industrial Average gained about 70 points, or 0.2%. Contracts tied to the S&P 500 and the Nasdaq Composite ticked up 0.3% and 0.4%, respectively.

The three major U.S. indexes held on to slight gains during a choppy session Thursday but were still negative for the week. The Nasdaq Composite slightly outperformed, gaining about 0.4%, and has also been the best performing index this week.  

That outperformance for the tech-heavy index is a reversal from earlier during this market pullback...

Read More

Futures rise slightly as market tries to avoid losses for the week

A woman rides past the New York Stock Exchange (NYSE) on July 13, 2020 at Wall Street in New York City.
Johannes Eisele | Getty Images

U.S. stock futures rose slightly on Thursday evening as the market indexes tried to avoid a fourth consecutive week of losses. 

Futures for the Dow Jones Industrial Average gained about 70 points, or 0.2%. Contracts tied to the S&P 500 and the Nasdaq Composite ticked up 0.3% and 0.4%, respectively.

The three major U.S. indexes held on to slight gains during a choppy session Thursday but were still negative for the week. The Nasdaq Composite slightly outperformed, gaining about 0.4%, and has also been the best performing index this week.  

That outperformance for the tech-heavy index is a reversal from earlier during this market pullback...

Read More