News

Big banks have drastically cut overdraft fees, but customers still paid $2.2 billion last year

Overdraft revenue is on the decline, but recent filings show that JPMorgan Chase and Wells Fargo remain by far the largest generators of the controversial fees.

Societe Generale posts sharp profit drop as net banking income slides

Societe Generale on Thursday reported a sharp decline in fourth-quarter net profit on the back of weaker net banking income.

China’s VC playbook is undergoing a sea change as U.S. IPO exits get tougher

The Chinese venture capital world that once hoped for giant U.S. IPOs similar to Alibaba's is changing drastically.

Hainan Airlines is handing out Rokid AR glasses for in-flight entertainment

Hainan Airlines this week started handing out Rokid's augmented reality glasses on a few routes for in-flight entertainment, the tech startup said Thursday.

China's central bank encourages local businesses to accept foreign payment cards

His written comments, exclusive to CNBC, come as Beijing has stepped up efforts to encourage visits from foreign tourists and business people.

This semi name just hit a fresh all-time high. Why its stock market dominance could last

Nvidia's advantage in the artificial intelligence chip space may be in its early innings, according to VanEck CEO Jan van Eck.

NYCB woes reignite fears about shaky banks as anniversary of March crisis nears

Investors have worried that commercial real estate losses could trigger more turmoil after deposit runs consumed Silicon Valley Bank and Signature last March.

Hedge fund billionaire Bill Ackman to launch a NYSE-listed fund for regular investors

Pershing Square's Ackman will offer a new investment vehicle listed on the New York Stock Exchange, aiming to leverage his following among retail investors.

Fed's Neel Kashkari expects only two or three interest rate cuts this year

"Sitting here today, I would say, two or three cuts would seem to be appropriate for me right now," he said during a CNBC "Squawk Box" interview.

NYCB shares whipsaw after Moody's downgrades bank's credit rating to junk

NYCB has been in freefall since reporting a surprise loss last week, along with mounting losses on commercial real estate and the need to slash its dividend.

Clocktower's chief strategist says Chinese stocks will likely rally 10% to 15% from here

Chinese stocks will likely climb by at least 10% as authorities signal concerted support efforts, said Marko Papic, chief strategist at Clocktower Group.

Lawson shares surge 18% after Japan's KDDI launches $3.4 billion privatization offer

The telecom operator plans to acquire a 50% stake in Lawson, taking it private with trading house Mitsubishi Corp, which owns the other 50%.
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