World

Chinese stocks jump amid trade optimism; manufacturing data disappoints

Stocks in China saw strong gains on the first trading day of February as hopes rise for a U.S.-China trade deal. However, the country’s manufacturing data came in below expectations. Mainland Chinese markets saw gains on the day, as the Shanghai composite rose 1.3 percent to close at around 2,618.23 …

Business

Tesla is betting big on China, and here’s what Elon Musk had to say about it

To tap into a growing market for electric vehicles in China, Tesla is betting big on the region — and executives talked up the company’s efforts there on an earnings call this week. Specifically CEO Elon Musk and Tesla’s retiring CFO Deepak Ahuja emphasized their aims to get the Tesla …

Business

The ultra-rich are investing differently in 2019 — and it includes cannabis

Super-wealthy investors are making some changes to their portfolios for 2019. They are increasing their cash holdings and reducing their equity exposure. They are also cutting back on some of their real estate investments and finding a “short-term solution” in fixed income, according to Michael Sonnenfeldt, founder of investment club …

Tech

Cree BR30 Floodlight LED (2019) review: This affordable LED floodlight is almost perfect – CNET

Let me start by running through some of the things I think you should look for in a good 65-watt replacement floodlight LED, as outlined in my rundown of the top picks in the category: Brightness-wise, your bulb should put out at least 650 lumens Your bulb shouldn’t draw more …

World

On This Valentine’s Day, There Are No New Sweethearts (Candy)

Two weeks before Valentine’s Day, the Sweethearts candy shortage is acute. Many distributors have already sold out. And what candy remains is left over from last year — before its manufacturer, the New England Confectionery Company, or Necco, closed its factory doors. So now how are we supposed to communicate …

Business

Energy just had its best month in years, and one stock could rally even harder

The energy trade is burning up. The energy ETF (XLE) just posted its biggest monthly gain since 2015, buoyed by oil’s bestJanuary since 1983. Frank Cappelleri, chief market technician at Instinet, said that kind of advance could fuel an even bigger crude rally which may spill over into energy stocks. …

Business

Wild weather: Energy traders scramble to cope with arctic blast’s abrupt end

It appears the polar vortex’s days are numbered, and the situation is hitting natural gas prices. According to The Weather Co.’s senior meteorologist, it’s sending traders scrambling this week to adjust to the changing forecast. “This is one of the more dramatic changes I can ever remember,” Daniel Leonard said …

Business

Arizona lawmaker pushes porn tax to pay for Trump’s border wall

An Arizona legislator has proposed a way to fund a border wall: Charge internet users a tax for viewing pornography. Earlier this month, Arizona Republican state senator Gail Griffin proposed HB 2444. The legislation would require manufacturers and distributors of internet-connected devices to block people in the state from viewing …

Business

Many Americans are doing this to get out from under debt. But beware the risks

It’s a Catch-22: You want to make progress on paying off your debt but, in order to do so, you take out yet another loan. A new study from online lending company LendingTree finds that people are using personal loans to do exactly that: manage existing debt. That comes as …

Business

2018 new home sales end weaker

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Tech

Nuvyyo Tablo Quad review: Cord-cutting for the geek-minded – CNET

As a nerd and as a cord-cutter, I can say with authority that cutting out cable TV by using an antenna DVR can get nerdy fast. There have been numerous devices that make it easier for the less tech-inclined to grasp, and the Amazon Fire TV Recast is the most …

Business

Secret experiment reveals one key way to boost retirement savings

Your imagination could be a key to boosting your retirement savings. A hidden experiment included in recent research suggests that workers could be motivated to save more if they picture their future self, rather than only focusing on the dollars and cents involved. The research, conducted by investment manager Capital …

World

A Beginner’s Guide to Getting Into Podcasts

As a content-obsessed millennial, I have made podcasts part of my daily routine for years. I listen while commuting, cooking, running errands, putting away laundry, washing dishes or during any relatively mindless activity that can be done while wearing wireless headphones. My bond with podcasts is so cemented that it …

Business

Tesla ramps production as competitors flood market with electric cars. ‘Pile-up of epic proportions’

It’s been nearly a century since any automaker was in a more enviable position than Tesla. Despite relatively disappointing fourth-quarter earnings that missed analysts’ estimates, Tesla finished 2018 with an astounding 83 percent share of the U.S. battery-electric vehicle market, CEO Elon Musk boasted Wednesday. That hasn’t happened since the …

Travel

Record cold delays some Amazon deliveries, grounds more than 1,500 flights

Brutal cold that can cause frostbite within a few minutes blasted the Midwest for a second day and blew into the Northeast on Thursday, snarling air traffic and delaying Amazon and other package deliveries. Amazon said it closed some buildings, including fulfillment centers across the Midwest that were affected by …

World

Facebook’s earnings had a surprise finding: Users don’t appear to care about privacy scandals

This week, Facebook pleased investors by reporting a strong quarter of earnings led by impressive statistics on user activity for the fourth quarter of 2018. In light of the social network’s recent controversies, there were a few surprises in the figures: The number of monthly Facebook users was steady in …

World

China and US discussing Trump-Xi trade meeting, but optics among sticking points

U.S. and Chinese officials are discussing a potential meeting between Presidents Donald Trump and Xi Jinping in late February, two sources told CNBC. The meeting would take place after a summit between Trump and North Korean leader Kim Jong Un and just before the March 2 deadline for a U.S.-China …

Business

Surprise exit of Tesla CFO unnerves analysts: ‘Significant loss of institutional knowledge’

Tesla’s announcement that Chief Financial Officer Deepak Ahuja is retiring has unnerved Wall Street’s top analysts and overshadowed the company’s sales beat in the fourth quarter. Many viewed the loss of the longtime executive as the most significant in a string of high-profile departures as the electric car manufacturer struggles …

World

China says its manufacturing activity contracted for the second-straight month in January

China said on Thursday its manufacturing activity contracted for the second-straight month in January — another sign that the world’s second-largest economy is slowing down amid domestic headwinds and the ongoing trade dispute with the U.S. The official manufacturing Purchasing Managers’ Index (PMI) for January was 49.5, according to the …

Entertainment

Sheryl Sandberg defends Facebook data-collecting app: Users ‘knew they were involved and consented’

Facebook users went through a “rigorous consent flow” before participating in its market research program, Chief Operating Officer Sheryl Sandberg told CNBC. Apple on Wednesday revoked some Facebook developer privileges after TechCrunch reported that the social media giant paid some users to download an app that enabled the company to …

Business
World

Asian stocks mixed as manufacturing activity in China shrinks again

Major stocks in Asia closed mixed on Thursday on the back of official data from China showing that the Chinese economy contracted for the second month in a row in January. The mainland Chinese markets ended their trading day mixed. The Shanghai composite gained around 0.35 percent to 2,584.57 and …

Business

Tesla shares drop sharply after Musk says CFO Ahuja is leaving the company — for the second time

Tesla’s futures price was down 4.5 percent Thursday, a day after CEO Elon Musk announced that Chief Financial Officer Deepak Ahuja is retiring after almost 11 years at the electric car company. It’s the second time Ahuja has resigned from the company. He was one of Tesla’s longest serving executives …

Entertainment

Watch Sheryl Sandberg speak after Facebook earnings crush estimates

[The stream is slated to start at 6:10 p.m., ET. Please refresh the page if you do not see a player above at that time.] Sheryl Sandberg, Facebook’s chief operating officer, speaks to CNBC’s Julia Boorstin on Wednesday after the social media giant’s fourth-quarter earnings easily topped Wall Street expectations. …

Business

Larry Summers, ex-advisor to Democratic presidents, isn’t jumping behind Warren’s wealth tax

Economist Larry Summers has advised Democratic presidents, but he’s not ready to jump behind Democratic Sen. Elizabeth Warren’s proposed wealth tax. Warren, of Massachusetts, is a prominent voice in the party’s liberal wing and is exploring a run for president. Her proposal, which she is calling an ultra-millionaire tax, would …

World

How to Make Your Office More Ergonomically Correct

Last month, I bought a big new computer screen, thinking that if I stopped crouching over my laptop like a turtle, my lower back would stop hurting. It worked great — for about 48 hours. Then I started getting searing pains in my neck, which prevented me from turning my …

Business

Southern California home sales plunge 20% in December to the lowest pace in 11 years

The housing pain persists in Southern California, as higher costs weigh heavily on potential buyers. Home sales in the region fell 20.3 percent year over year in December, according to CoreLogic. That is the lowest December sales pace since 2007. From November to December, sales of new and existing houses …

World

VW grabs global auto sales crown, but Renault-Nissan Alliance closes the gap

Volkswagen managed to hang on to its global sales crown last year despite an aggressive challenge from its Euro-Asian rival, the Renault-Nissan-Mitsubishi Alliance. The three top auto groups each managed to deliver more than 10 million vehicles worldwide last year, but the industry saw a sharp dip by General Motors, …

Travel

Here’s why cost-conscious travelers continue to blow their vacation budgets

Despite your best budgeting efforts, your winter getaway to the Caribbean could still land you in the red. Those were the findings from a recent data analysis by Mint, a budgeting app. Last year, 2.2 million of the app’s users created a monthly travel budget, setting aside cash to save …

Business

Wheels Up hires advisors for ‘strategic initiatives’ including possible acquisitions

Wheels Up has hired bankers for “strategic initiatives” that could include acquisitions, the company’s CEO told CNBC. “We have hired advisors to assist us with our pursuit of strategic initiatives that include exploring acquisition opportunities and expansion of our digital platform,” Wheels Up CEO Kenny Dichter told CNBC in a …