The Libra Association, the organization in charge of overseeing Facebook's proposed cryptocurrency, said Wednesday it will apply for a payments license in Switzerland.
Germany's Chancellor Angela Merkel gestures as she addresses media representatives after a European Union (EU) summit.JOHN THYS | AFP | Getty ImagesThere's a change in attitude in Germany when it comes to its spending plans, analysts have told CNBC. Germany is actively looking at ways to invest more — a move that could be controversial in a country where a balanced budget has become somewhat a tradition. However, the increasing risk of an economic recession is putting pressure on German officials to explore ways to open the coffers a bit more. Data out of Germany has been quite disappointing over the last half a year, leading many analysts to consider the chances of a recession. The German statistics office showed last month that the German economy contracted by 0.1% in the second quarter of this year. "I think the (German) government is still not too concerned about a real recession, but they are finally opening up for the long-discussed need for more investments," Carsten B..
Automakers' brands will take a backseat to new driving "experiences" as autonomous vehicles and car-sharing become more popular, according to the chief executive officer of IBM.
Dennis Muilenburg, CEO of Boeing Inc. speaking at the Business Roundtable CEO Innovation Summit in Washington D.C. on Dec. 6th, 2018. Janhvi Bhojwani | CNBCThe Boeing 737 Max, grounded for the last six months after two fatal crashes, might not return to service in every country on the same timeline, depending on when global regulators deem the plane airworthy, CEO Dennis Muilenburg said Wednesday. The manufacturer has developed a software fix for the jets, its best-selling plane, but hasn't yet submitted it to regulators for approval. Muilenburg told an industry conference that Boeing still expects the planes to return to service in the fourth quarter of 2019, but regulators across the globe may not clear it for flight at the same time.
VIDEO3:1003:10Irish finance minister: Backstop is the best possible answer to Brexit complexitySquawk Box EuropeIreland's finance minister warned that the country's government remains "highly skeptical" about proposals advocated by Britain's prime minister to avoid the need for infrastructure on the U.K.'s border with Ireland after Brexit. U.K. premier Boris Johnson had visited Dublin Monday for talks with his Irish counterpart, Leo Varadkar, and insisted that trusted trader schemes and electronic pre-clearances of goods were areas in which there was "a lot that can be done" to resolve a problem that bedevilled his predecessor Theresa May: how to reconcile an open border between the Republic of Ireland and the U.K., while allowing Britain to strike independent trade deals in the future. But Varadkar's finance minister Paschal Donohoe, speaking to CNBC at Ireland's U.K. embassy after a day of investor meetings in the City of London, argued that the British ..
Lamborghini Sián FKP 37Source: LamborghiniFans of the famous flux capacitor in the 1985 movie "Back to the Future" will love the new Lamborghini. The Italian automaker unveiled its fastest car ever Tuesday morning at the Frankfurt Motor Show — a geometric fantasy of speed and engineering called the Sian FKP 37. It is the company's first hybrid, following electrified offerings from Ferrari, Porsche and others. But unlike the other hybrids, which use batteries, the Sian's electric boost comes from a supercapacitor, which can put out huge amounts of instant power. Lamborghini Sián FKP 37Source: LamborghiniCombined with Lamborghini''s raging V-12 combustion engine, the Sian supercapacitor will give the car 819 horsepower and push it from zero to 62 mph in under 2.8 seconds. The top speed is 217 mph – hence the car's name, Sian, which means "flash of lightening" in the Bolognese dialect. The FKP 37 is an homage to Ferdinand Karl Piech. Born in 1937, he's the fo..