He left Brooklyn to launch a start-up in ‘the next frontier’: Vietnam

He left Brooklyn to launch a start-up in ‘the next frontier’: Vietnam

Three years ago, Peter Petracca was working as a consultant in New York, itching for a change. Petracca, originally from California, decided to move to Hanoi, Vietnam. "I was living in Brooklyn next door to a Vietnamese restaurant and would eat there three times a week," he told CNBC while in Hanoi. "I heard amazing…
Southern California home sales crash, a warning sign to the nation

Southern California home sales crash, a warning sign to the nation

The median price paid for all Southern California homes sold in June was a record $536,250, according to CoreLogic, a 7.3 percent increase compared with June 2017. While part of that is due to a mix shift, since there are fewer lower-priced homes for sale, it is becoming increasingly clear that fewer buyers are able…
Whirlpool shares plunge 14.5%, post worst day since 1987 as tariffs wreak havoc with costs and suppliers

Whirlpool shares plunge 14.5%, post worst day since 1987 as tariffs wreak havoc with...

Shares of Whirlpool, the U.S. based washing machine giant who was once in favor of stricter trade controls for its own industry, posted their worst day in over 30 years after executives blamed rising steel and aluminum costs for diminished quarterly earnings. "Global steel cost has risen substantially and, particularly in the US, they have…
Trump makes a wild claim: Russians don’t want him to be president, so they will help Democrats in the midterms

Trump makes a wild claim: Russians don’t want him to be president, so they...

President Donald Trump said Tuesday that he was "very concerned that Russia will be fighting very hard to have an impact on the upcoming Election." But rather than benefit his own party, as Russia sought to do in 2016, Trump claimed without offering any evidence that Russia "will be pushing very hard for the Democrats"…
Some good news for Democrats: Their odds to win the House are above 50% for the first time, top forecaster says

Some good news for Democrats: Their odds to win the House are above 50%...

With under 100 days to go until the November elections, eight races labeled “Leans Republican” were shifted to the “Toss-Up” category, including a special election in Ohio on Aug. 7. The changes raise the total number of toss-up elections to 36. Thirty-four of those competitive races are for seats currently held by Republicans, versus just…
Ahead of big GDP report, Trump says US has ‘best financial numbers on the planet’

Ahead of big GDP report, Trump says US has ‘best financial numbers on the...

With the release of second-quarter growth numbers just three days away, President Donald Trump is enthusiastic about growth, to say the least. While not mentioning the upcoming gross domestic product report from the Bureau of Economic Analysis, Trump indicated in a tweet Tuesday that the economy is powering along. Trump tweet Economists expect GDP to…
Trump administration to give billions in aid to farmers hurt by tariffs: Reports

Trump administration to give billions in aid to farmers hurt by tariffs: Reports

Retaliatory tariffs on goods like soybeans, pork, and beef have hit farmers' bottom lines in key electoral states like Wisconsin, North Carolina, Ohio and Iowa. Trump praised his administration's tariff policy on Tuesday in an early morning post on Twitter. "Tariffs are the greatest!" he wrote. "Either a country which has treated the United States…
David Rosenberg issues bubble warning in credit market: It will tear into stocks

David Rosenberg issues bubble warning in credit market: It will tear into stocks

David Rosenberg is pretty certain he knows how the bull market in stocks will end. The Gluskin Sheff chief economist and strategist expects widening spreads will tear it apart. "The corporate bond market is today’s bubble, just like the mortgage market a decade ago was the bubble back then," he said Monday on CNBC's "Trading…
Alphabet set to surge to all-time high as Wall Street says internet giant’s big bets are ‘paying off’

Alphabet set to surge to all-time high as Wall Street says internet giant’s big...

Wall Street is buzzing over Alphabet’s blowout June quarter financial results. Analysts are growing more confident over the prospects for many of Alphabet’s emerging businesses, including YouTube, autonomous cars and cloud computing. The internet giant reported better-than-expected second-quarter earnings Monday. It posted adjusted earnings per share of $11.75 versus the Wall Street consensus of $9.59…
Trump turns up the heat on trade: ‘Tariffs are the greatest!’

Trump turns up the heat on trade: ‘Tariffs are the greatest!’

China has retaliated with tariffs of its own, though the administration is banking on the idea that the U.S. ultimately will prevail in a tit-for-tat battle. The U.S. ran a $376 billion trade deficit with China in calendar year 2017 and that number was $152 billion for the first five months of 2018, according to…

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