Investing

J.P. Morgan has placed two precious metals traders on leave — including the global head of base and precious metals trading — as the Justice Department’s criminal investigation into the firm’s trading practices continues. Michael Nowak, a managing director at J.P. Morgan who also heads the firm’s precious metals trading unit, was put on leave
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Traders work at the Bolsa de Mercadorias e Futuros, Brazilian Mercantile and Futures Exchange (BM&F), in Sao Paulo, Brazil. Marcos Issas | Bloomberg | Getty Images Investing in Latin America’s equity markets can be scary, but Luiz Maria Ribiero has cracked a winning formula. Ribiero manages the DWS Latin America Equity fund (SLARX), which has
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Apple disputed the negative call by Goldman Sachs on Friday, which hit the stock, taking issue with the firm’s negative characterization on how Apple would account for its new TV+ service. Goldman said that the one-year free trial of the TV+ service would have a “material negative impact” on earnings by showing lower hardware profit
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CNBC’s Jim Cramer said on Friday that WeWork should pull its embattled initial public offering because the negative sentiment around slashing its valuation could be contagious in the overall stock market. “Stop the WeWork deal,” Cramer said on “Squawk Box.” “We don’t want that deal. I just wish they would go away.” Despite a number
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T. Boone Pickens, BP Capital Management Scott Mlyn | CNBC Magnates and friends of prominent wildcatter T. Boone Pickens remembered him fondly in comments to CNBC following his passing. Pickens died Wednesday of natural causes at age 91. Billionaire investor Warren Buffett told CNBC’s Becky Quick on Thursday that “they grow big personalities in Texas,
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An activist investor with a penchant for bold calls about companies losing value spoke to CNBC’s “Squawk Box” on Monday about his latest position, which bets that household products company Church & Dwight will lose half its value. Spruce Point Capital founder Ben Axler published a report last week expressing “significant concerns” about Church &
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White House economic advisor Larry Kudlow said recent conversations with China “went very well.” “The phone call the night before last with Secretary Mnuchin and Lighthizer and Vice Premier Liu He went very well. That’s important,” Kudlow said Friday on CNBC’s Squawk on the Street. “The phone lines have been open during this period and
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Source: Waste Connections Christopher Warner and Ozo Jaculewicz helped build one of the top-performing funds of 2019 with an unconventional bet: Waste Connections. Waste Connections, a waste management company based in Canada, has the largest weight in the Wells Fargo Asset Management Discovery fund (WFDAX), which is managed by Warner and Jaculewicz. Their bet on
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CNBC’s Jim Cramer said Friday that Federal Reserve Chairman Jerome Powell should admit he was wrong to increase interest rates so aggressively last year, as the U.S.-China trade dispute was escalating, economic growth was starting to cool and the stock market was tanking. Powell should acknowledge the mistake and change course, Cramer said. “Why can’t
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Federal Reserve Chairman Jerome Powell said Friday that the ongoing trade war between China and the U.S. is weighing down companies’ investment decisions. “I think it is the case that uncertainty around trade policy is causing some companies to hold back now on investment,” Powell said in Switzerland. ”We’ve been hearing quite a bit about uncertainty. So
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Holiday shoppers at a Target store in Culver City, California. Mark Ralston | AFP | Getty Images Despite retailers banking on acceleration in the fourth-quarter from holiday sales, Wells Fargo said fundamental trends have deteriorated. “While the majority of companies appear optimistic on their ability to drive solid growth in [the fourth quarter of 2019],
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