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CNBC’s Jim Cramer said he sees positives for investors after steep market declines Wednesday as Wall Street grew further concerned about the coronavirus pandemic. “I recognize the carnage, but I do think the carnage is reversible,” Cramer said Wednesday on “Closing Bell,” after the Dow Jones Industrial Average gave up 943 points, or 3.4%, in
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The Transamerica Pyramid looms over the San Francisco skyline. (Photo by Carol M. Highsmith/Buyenlarge/Getty Images) Getty Images San Francisco’s iconic Transamerica Pyramid changed hands for the first time on Wednesday, after Deutsche Finance America and developer Michael Shvo teamed up to purchase the tower and complex for $650 million, the largest commercial transaction in the
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Property data and analytics firm CoreLogic has received multiple potential takeover bids that value the company at north of $80 a share, sources tell CNBC’s David Faber. The multiple parties interested in pursuing a deal with CoreLogic include private equity firms, Faber reported citing sources familiar with the talks. The company has already signed a
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Apple is stepping up efforts to develop its own search technology as US antitrust authorities threaten multibillion-dollar payments that Google makes to secure prime placement of its engine on the iPhone. In a little-noticed change to the latest version of the iPhone operating system, iOS 14, Apple has begun to show its own search results
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Corporate America’s most powerful lobby groups have called for patience as votes are counted in next week’s election, hours after President Donald Trump said it would be “totally inappropriate” if ballots were still being tallied after election day. The US Chamber of Commerce, the Business Roundtable and six other groups representing industries from retail to
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Kevin Mandia, CEO, FireEye  Scott Mlyn | CNBC Check out the companies making headlines midday after hours on Tuesday: Microsoft — Microsoft shares whipsawed after the tech giant reported better-than-expected results for the previous quarter. The company posted an adjusted profit of $1.82 per share on revenue of $37.15 billion. Analysts expected earnings per share
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After entering 2020 with a $6 billion surplus, and working its way through several harrowing months, California is now in the hopeful phase, said Scott Wu, executive director of the California Infrastructure and Development Bank. “In some ways, the California story of 2020 resembles that of the rest of the country,” said Wu, a speaker
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More than 60m Americans have already cast their ballots in the US presidential election amid a surge in early voting due to the pandemic, pointing to massive turnout despite fears that Covid-19 would dampen participation. According to data from the US Elections Project, more than 63m Americans had voted as of Monday evening, either by
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Inventory turnover is an important metric for evaluating how efficiently a company turns its inventory into sales. By using average inventory, companies can obtain a more accurate measurement of the cost of inventory by smoothing out fluctuations in inventory values over multiple periods. As a result, inventory turnover can be more effectively monitored, which helps
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(Photo: Getty Images | d3sign) SINGAPORE — Commercial real estate prices have plunged this year as people stopped going into offices, and retail businesses were disrupted. That could lead to a significant amount of losses for banks, according to a recent report. In previous downturns, commercial property loan losses were “heavy” and there are worrying
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The financial and legal obstacles besetting a long-planned Maryland light rail system could hinder other large-scale transportation public-private partnership projects, analysts said. The Maryland Department of Transportation assumed many contracts from Purple Line Transit Partners this month after the private partner shut down construction of the 16-mile, 21-station light rail line. PLTP is involved in
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The Weekly Closed-End Fund Roundup will be put out at the start of each week to summarize recent price movements in closed-end fund sectors in the last week, as well as to highlight recently concluded or upcoming corporate actions on CEFs, such as tender offers. Most of the information has been sourced from CEFInsight or
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A vaccine considered a frontrunner in the race to protect the global population from Covid-19 has produced a robust immune response in elderly people, the group at highest risk from the disease, according to two people familiar with the finding. The discovery that the vaccine being developed by the University of Oxford, in collaboration with
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There are a vast number of agencies assigned to regulate and oversee financial institutions and financial markets, including the Federal Reserve Board (FRB), the Federal Deposit Insurance Corporation (FDIC), and the Securities and Exchange Commission (SEC). Each agency has specific responsibilities, allowing them to function independently. Though the effectiveness and efficiency with which these regulatory
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Source: Texas Instruments | Wikipedia Volatility has once again returned to Wall Street. Swinging between positive and negative territory in the previous five sessions, the market’s movements have largely been tied to updates on the ongoing stimulus talks. Working for months to pass additional stimulus measures, both sides of the aisle are making a last-ditch
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