business news

Hong Kong stocks up around 2% after previous session's rally;  Asia markets rise ahead of Fed decision

Hong Kong stocks up around 2% after previous session’s rally; Asia markets rise ahead of Fed decision

Oil prices rise following industry report of fall in US crude inventories Oil prices rose on Wednesday as demand persisted despite high interest rate hikes, industry reports showed a drop in US crude inventories, Reuters reported citing American Petroleum Institute figures released on Tuesday. Brent crude futures gained $1.31, or 1.46%, to stand at $95.87 …

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BP rakes in quarterly profit of $8.2 billion as oil majors post another round of bumper earnings

BP rakes in quarterly profit of $8.2 billion as oil majors post another round of bumper earnings

Shares of BP are up over 45% year-to-date. Stick Images | Lightrocket | Getty Images Oil and gas giant BP on Tuesday reported stronger-than-expected third-quarter profits, supported by high commodity prices and robust gas marketing and trading. The British energy major posted underlying replacement cost profit, used as a proxy for net profit, of $8.2 …

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Australia raises 25 bps as expected, Hong Kong stocks lead gains in Asia-Pacific markets

Australia raises 25 bps as expected, Hong Kong stocks lead gains in Asia-Pacific markets

Australia’s central bank hikes rates by 25 basis points as expected The Reserve Bank of Australia raised interest rates by 25 basis points to 2.85%, in line with the average forecast by analysts in a Reuters poll. This is the seventh consecutive tightening move by the RBA in a bid to control inflation in the …

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Hong Kong stocks up 3% in Asia session as private survey shows China's factory activity contracted;  RBA decision ahead

Hong Kong stocks up 3% in Asia session as private survey shows China’s factory activity contracted; RBA decision ahead

CNBC Pro: What investors should buy in this ‘short lived’ rally, according to one analyst After October’s stock market rally, investors are debating whether stocks have hit the bottom or if it’s another short-lived bounce. Michael Landsberg, chief investment officer at Landsberg Bennett Private Wealth Management, is in the latter camp, arguing that the rally, …

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Elon Musk has pulled more than 50 Tesla employees into his Twitter takeover

Elon Musk has pulled more than 50 Tesla employees into his Twitter takeover

The Twitter profile page belonging to Elon Musk is seen on an Apple iPhone mobile phone. Nurphoto Nurphoto Getty Images New Twitter owner Elon Musk has pulled more than 50 of his trusted Tesla employees, mostly software engineers from the Autopilot team, into his Twitter takeover, CNBC has learned. Musk, who is CEO of automaker …

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Homebuilders say they're on the edge of a steeper downturn as buyers pull back

Homebuilders say they’re on the edge of a steeper downturn as buyers pull back

A worker drills plywood on a single family home under construction in Lehi, Utah, on Friday, Jan. 7, 2022. George Frey | Bloomberg | Getty Images The once-hot housing market is cooling off at an alarming rate, and some homebuilders say it will only get worse come the new year as new orders dry up. …

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Euro zone inflation hits a record high of 10.7% as growth slows sharply

Euro zone inflation hits a record high of 10.7% as growth slows sharply

Inflation in the euro zone remains extremely high. Protestors in Italy used empty shopping trolleys to demonstrate the cost-of-living crisis. Stefano Montesi – Corbis | Corbis News | Getty Images Euro zone inflation rose above the 10% level in the month of October, highlighting the severity of the cost-of-living crisis in the region and adding …

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Jim Cramer: The tech tyranny is over.  These are the stocks driving this market

Jim Cramer: The tech tyranny is over. These are the stocks driving this market

Never have the bulls been more bashful and timid. Never have the bears been so ascendant and so wrong. Oh sure, the bears nailed Meta Platforms (META) and hit Microsoft (MSFT) out of the park. Amazon (AMZN) flopped. So did Alphabet (GOOGL). But when the bears — with the help of everyone in the media …

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These five stocks are best positioned for long-term growth, according to Goldman analysts

These five stocks are best positioned for long-term growth, according to Goldman analysts

Goldman Sachs said this week that there are a bunch of stocks that are poised for long-term growth. These five companies are all coming off of quarterly results, and analysts say they have attractive upside for patient investors. CNBC Pro combed through the top Wall Street research to find some of Goldman’s top buying opportunities …

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