Business

Mortgage refinance demand tanks 39% as rates continue to climb

A house’s real estate for sale sign shows the home as being “Under Contract” in Washington, DC, November 19, 2020.Saul Loeb | AFP | Getty ImagesHigher mortgage rates are cutting into demand for refinances, as fewer and fewer borrowers can now get worthwhile savings.Applications to refinance a home loan fell 4% for the week and …

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Italy and France ready to restart AstraZeneca vaccinations if regulators give the green light

A vial of the Oxford University/AstraZeneca COVID-19 vaccine is seen at the Lochee Health Centre in Dundee, Scotland, Britain January 4, 2021.Andy Buchanan| Pool | ReutersLONDON — France and Italy say they are ready to quickly restart inoculation programs with the AstraZeneca vaccine if regulators confirm it’s still safe to use.The preliminary statement from the …

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Chinese tech giant Baidu to raise $3.1 billion in Hong Kong listing

The Baidu Inc. logo is displayed on the company’s headquarters on July 3, 2019 in Beijing, China.Wan Xiaojun | Visual China Group via Getty ImagesGUANGZHOU, China — Chinese search giant Baidu will raise nearly $3.1 billion in its upcoming Hong Kong secondary listing, a person familiar with the matter told CNBC.Baidu has priced its shares …

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Entering China is now easier for people who have a vaccine — but only if it’s made in China

Travelers walk through Beijing Daxing International Airport in Beijing, China, on Tuesday, Aug. 25, 2020.Yan Cong | Bloomberg | Getty ImagesChina is making it easier for foreigners who have been inoculated with Chinese-made coronavirus vaccines to enter the country, after shutting its borders for international travel more than a year ago due to Covid-19.Multiple Chinese …

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China puts the pandemic behind it, aims for less commodity-intensive growth

Workers make protective masks at a factory in Handan, Hebei province, China January 22, 2020.China Daily via REUTERSBEIJING — While much of the world is still dealing with the coronavirus pandemic, China’s economy is showing signs that it has already passed the peak of a domestic recovery.That means growth ahead will not necessarily maintain recent …

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Elon Musk turns down $1 million offer to buy his tweet as an NFT

Elon Musk, founder and chief engineer of SpaceX speaks at the 2020 Satellite Conference and Exhibition March 9, 2020 in Washington, DC.Win McNamee | Getty ImagesTesla and SpaceX CEO Elon Musk withdrew the offer to sell one of his tweets as a non-fungible token (or NFT) on Tuesday, even though a bidder had offered more than …

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Biden says Cuomo should resign if probe confirms sexual harassment claims against New York governor

President Joe Biden gestures during remarks on the implementation of the American Rescue Plan in the State Dining room of the White House in Washington, DC on March 15, 2021.Eric Baradat | AFP | Getty ImagesPresident Joe Biden said in a new interview that New York Gov. Andrew Cuomo should resign if an investigation confirms …

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High-end retail stocks are showing signs of more upside, Jim Cramer says

Pedestrians pass in front of a Nordstrom Inc. store in the Midtown neighborhood of New York, on March 20, 2020.Gabby Jones | Bloomberg | Getty ImagesHigh-end retail stocks have made strong gains in recent months, and recent trading activity could be signaling more upside on the horizon, CNBC’s Jim Cramer said Tuesday.“The non-essential high-end retailers …

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NYU’s ‘Dean of Valuation’ says growth stocks have more room to fall as interest rates go higher

Traders work on the floor of the New York Stock Exchange.NYSEGrowth stocks have room to decline further if interest rates continue to rise, New York University finance professor Aswath Damodaran told CNBC on Tuesday,A rapid increase in bond yields this year has put pressure on equities with high multiples. The 10-year Treasury yield, which began 2021 under …

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