The Conference Board, a business research group, on Tuesday released the June update for its consumer confidence index.Economyread more
Investors are piling into gold, sending the precious metal to a six-year high on Monday, and analysts think the commodity has established a base to go even higher.Marketsread more
Melania Trump added that she is "excited to have Stephanie working for both sides of the @WhiteHouse."Politicsread more
The yield on the benchmark 10-year Treasury note fell below 2% on Tuesday as investors looked for safety following the release of much weaker-than-expected confidence data.Bondsread more
Trump slams Iran on Twitter for issuing a "very ignorant and insulting statement" after the U.S. slapped fresh sanctions on Tehran.Politicsread more
Investors plow into the precious metal amid the prospects for lower interest rates, a softer global economy and increased geopolitical tensions.Marketsread more
More than 150,000 former students of for-profit colleges filed a lawsuit against the U.S. Department of Education and Education Secretary Betsy DeVos on Tuesday, claiming the...Personal Financeread more
Amazon announces that Amazon Prime Day will last for two days, starting July 15.Technologyread more
Buyers pulled away from the builders in May, even as affordability improved, thanks to lower mortgage rates.Real Estateread more
The Congressional Budget Office estimated Tuesday that the national debt will rise to 141% of the economy over the next 30 years — 11 percentage points lower than the agency...Economyread more
Allergan shareholders will receive 0.8660 AbbVie shares and $120.30 in cash for each share held, for a total value of $188.24 per Allergan share.Biotech and Pharmaceuticalsread more
The deadly bombings that struck Sri Lanka on Easter Sunday are expected to drag down the country's economic growth to around 3% this year, a senior official at the country's Ministry of Finance said on Tuesday.
That latest prediction by State Minister of Finance Eran Wickramaratne is more optimistic than a 2.5% median forecast from analysts polled by Reuters, but lower than projections by institutions such as the International Monetary Fund and the Asian Development Bank.
The IMF's 2019 growth forecast for Sri Lanka is 3.5%, while that of the ADB is 3.6%. Indrajit Coomaraswamy, the governor of Sri Lanka's central bank, told CNBC last month that the economy could still grow by around 4%.
The country's domestic economy grew 3.2% in 2018.
But Wickramaratne said growth "would be around 3%" this year. "It's natural to expect we would be probably at the lower end of the range rather the higher end of the range," he told CNBC's Sri Jegarajah at a forum in Singapore.
The April 21 bombings killed more than 250 people and have hit Sri Lanka's important tourism sector, which accounts for around 5% of gross domestic product. The attack also affected investor sentiment, sending the benchmark CSE All-Share index down by 6% since April 18 — the last trading day before the bombings.
But foreign investors are coming back into Sri Lanka, according to Ray Abeywardena, chairman of the Colombo Stock Exchange. He said on Tuesday the exchange saw inflows of around 3.6 billion Sri Lankan rupees ($20.5 million) over the past month.