The Japan situation offers a new “calibration point” for insurers and the world, Glenn Renwick, CEO of insurance company Progressive, told CNBC Wednesday.
Because of Japan’s many troubles, before and after recent events, the Asia nation could face recession again, Stephen Roach, Morgan Stanley’s non-executive chairman Asia, told CNBC Wednesday.
If history repeats itself, the worldwide stock market could tumble even more this Friday—a week after a Japan was devastated by an earthquake and tsunami, Yale economist Robert Shiller told CNBC Monday.
As the Japanese race the clock to avert a nuclear meltdown at a power plant, House Speaker John Boehner, (R-Ohio), told CNBC Monday that the US needs to assess both the Japanese situation and its own relationship with nuclear energy.
Citigroup’s shakiest days are over, Saudi Prince Alwaleed bin Talal al Saud, the biggest single individual shareholder of the bank’s stock and chairman of Kingdom Holding Company, which also holds Citi stock, told CNBC Friday.
Instituting a “top-down” plan to forgive payments for underwater mortgages, which has been proposed by state attorneys general to boost the ailing housing market, would offer "poor" incentives and be “bad” for the country, John Stumpf, CEO of Wells Fargo, told CNBC Friday.
On the day that coffee giant Starbucks announced the partnership with single-serve provider Green Mountain, Starbucks CEO and chairman Howard Schultz, stopped short of saying how much investors could expect from the arrangement, but called it a “major opportunity,” whose economics would be accreted next year.
The spike in the price of an oil barrel has been caused by “market pricing and risk premium on the future oil supply,” not a lack of supply, Rex Tillerson, CEO and chairman of Exxon Mobil, told CNBC Wednesday.