Business

South Korea‘s financial regulator on Friday said it will ban raising money through all forms of virtual currencies, a move that follows similar restrictions in China on initial coin offerings. The Financial Services Commission said all kinds of initial coin offerings (ICO) will be banned as trading of virtual currencies needs to be tightly controlled
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President Donald Trump’s decision to withdraw from the Paris climate deal has “ignited” widespread environmental activism, Bob Geldof said Wednesday. The Live Aid benefit concerts organizer labeled Trump “a vulgar fool” and said Trump’s stance on climate change has encouraged several U.S. states to do more to address the issue. Geldof, who is known for
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The imposition of tariffs ups the pressure on May’s minority Conservative government which depends on backing from the small Northern Irish Democratic Unionist Party (DUP) for their majority control of the British parliament. Bombardier is the single largest manufacturing employer in Northern Ireland. The DUP’s leader Arlene Foster said the ruling was not the end
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China is “quite serious about living up to the commitments they have made regarding North Korea,” U.S. Commerce Secretary Wilbur Ross said on Wednesday. The order for mainland lenders to stop doing business with Pyongyang “is a logical next step in the sanctions, and a very important one,” he told CNBC’s “Squawk Box.” “Chinese commercial
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“North Korea’s air defenses are not great,” said Ian Williams, associate director of the Missile Defense Project at the Center for Strategic and International Studies, a Washington-based think tank. “That’s actually one area of missile technology where they haven’t made huge advances in the past few years.” Analysts told CNBC the North’s new KN-06 surface-to-air
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There’s a domestic dairy glut that’s so bad it’s led some American farmers to spill milk. National milk production is increasing faster than the processing capacity. Another challenge facing the industry is total per capita consumption of fluid milk has been steadily falling for some time because of competition from other beverages and because the
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Orville Redenbacher’s popcorn owner, Conagra Brands, is acquiring Angie’s Artisan treats, maker of Angie’s Boomchickapop popcorn, the company announced Friday. “Adding the Angie’s Boomchickapop brand to Conagra’s portfolio is another important step in our ongoing plan to modernize our portfolio and accelerate growth,” CEO Sean Connolly said in a statement. The deal was first reported
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Finish Line shares rebounded Friday after tumbling more than 11 percent at one point in early trading. The athletic footwear market became “much more promotional” in July and August, which pressured the retailer’s second-quarter sales and gross margins, CEO Sam Sato told analysts and investors Friday. He said he expects Finish Line’s sales and margin
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Check out which companies are making headlines before the bell: T-Mobile — T-Mobile is close to agreeing to tentative terms on a deal to merge with its telecom peer, Sprint, Reuters reported on Friday. Japan’s SoftBank, which controls Sprint, would reportedly own between 40 to 50 percent of the combined company. A deal is expected
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London stripped Uber on Friday of its license to operate from the end of September in a huge blow to the taxi app that will affect more than 40,000 drivers in one of the world’s biggest cities. “Uber’s approach and conduct demonstrate a lack of corporate responsibility in relation to a number of issues which
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Tesla will discontinue its cheapest Model S, the rear-wheel-drive 75, on Sunday, Tesla has confirmed to CNBC. Tesla first announced in July that it would discontinue the rear-wheel model. The company is shifting to an all-wheel-drive lineup for the Model S to simplify its product offering. The Model S rear-wheel version started at just over
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Amazon is growing in New York City. The internet giant announced Thursday that it plans to bring more than 2,000 jobs to the city over the next three years, promising to create roughly 6,000 jobs across New York state by 2019. Next year, Amazon will open a new office in Manhattan, which will be located
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Map courtesy of Stratfor. President Xi Jinping’s administration’s use of military retaliation is “a worrying escalation” and could result in further pressure on future business dealings, said Hugo Brennan, Asia analyst at Verisk Maplecroft, in a Wednesday note. Companies that have interests or operations in blocks licensed by Southeast Asian governments but located within China-claimed
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Getty Images FedEx delivery person, Chris Aniemeka, delivers packages on the day the company announced they plan to purchase TNT Express NV on April 7, 2015 in Miami, Florida. Shares of FedEx fell in extended trading after the company lowered its fiscal 2018 forecast on Tuesday. The shipping giant said it now expects earnings between
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