Southeast Asian ride hailer Grab is raising $706 million from Mitsubishi UFJ Financial Group Inc (MUFG) and $150 million from Japanese IT services firm TIS Inc, as it seeks to expand aggressively into financial services. Grab, backed by SoftBank Group Corp, said it will use the funding to offer lending, insurance and wealth management products and services for Southeast Asian consumers and small and medium-sized enterprises. MUFG’s deputy president and incoming CEO Hironori Kamezawa said the ban

Huawei is just one type of partner in 5G and tech, analyst saysAngus Ward, CEO of BearingPoint//Beyond, discusses how the tech sector will evolve over the next decade.

China encourages citizens to return to work despite tightening restrictionsCNBC’s Eunice Yoon reports the latest details out of China regarding the coronavirus outbreak.

Futures point to higher open following Monday sell-offU.S. stock index futures were higher Tuesday morning following the market’s worst decline in two years on coronavirus. CNBC’s Frank Holland reports.

A combo of pictures shows Egyptian demonstrators tearing a huge portrait of President Hosni Mubarak during a protest against his rule in the northern port city of Alexandria on January 27, 2011. Former Egyptian President Hosni Mubarak has died at the age of 91 after several weeks of hospitalization, Egypt’s state television reported Tuesday. Mubarak was toppled in a popular uprising in Egypt after 30 years of rule, during the country’s 2011 Arab Spring revolution. Between 1948 and 2011, the U.S.

Mastercard announced on Tuesday that CEO Ajay Banga will leave his current position and take over as the company’s executive chairman. Banga will be taking over as chairman for Richard Haythornthwaite, who has served in that role since May 2006. Michael Miebach, Mastercard’s chief product officer, will succeed Banga as CEO. Mastercard’s announcement came a day after the credit card company warned the coronavirus outbreak could hit its 2020 revenue. The company’s executive change appears to be un

Macy’s reported fourth-quarter earnings on Tuesday that outpaced lowered expectations, sending shares higher before the market open. The department store chain has been refreshing its interiors and focusing on improving its product assortment. Last quarter, Macy’s reported its first same-store sales decline in two years, casting blame on warmer weather and weak traffic at some shopping malls. Those results led the department store chain to slash its full-year outlook and sent the stock down abou

U.S. airlines on Monday said they would waive cancellation and change fees for travelers booked to South Korea as the coronavirus spreads beyond China, prompting a warning from government officials about travel there. Earlier on Monday, the U.S. Centers for Disease Control and Prevention warned travelers to avoid non-essential travel to South Korea, where the disease has sickened close to 900 people. American Airlines customers booked to Seoul through April 24 can change their flights without pa

Historic England is the country’s official list keeper of the most historically and architecturally significant places in England — places such as monuments, shipwrecks and battlefields. The Philharmonic Dining Rooms, a Grade I historic building. Historic England ArchiveKnown simply as “The Phil” to regulars who once included John Lennon, the pub is not short on accolades. Historic England called it a “cathedral among pubs” and “one of the most spectacular pubs to be completed in the golden age

European markets gave up a short-lived recovery effort on Tuesday as investors weigh concerns over the spread of the coronavirus in Italy and across the world following Monday’s sharp sell-off. Italy’s FTSE MIB continued to slide after sharp declines were seen yesterday on fears of the coronavirus outbreak in the north of the country. Meanwhile in China, the National Health Commission reported 508 new confirmed cases and 71 new deaths, as of Feb. 24. South Korea, which has the highest number of

Mahathir Mohamad, 94, is a veteran politician who has been Malaysia’s prime minister twice. As interim premier, Mahathir will continue to oversee administrative matters in the country until the appointment of a new prime minister and cabinet. Mahathir is a veteran politician who has been Malaysia’s prime minister twice. He was premier from 1981 to 2003, during which he led a coalition of political parties called Barisan Nasional. Before Monday’s events, the alliance was made up of four political

OPEC and its allied oil-producing nations are still working well together and still have options to try to rebalance global crude markets, Saudi Energy Minister Prince Abdulaziz bin Salman said Tuesday. His comments came amid speculation that there is tension in the alliance, known as OPEC+, over whether to cut oil production further. Prince Abdulaziz insisted that the producer countries in the alliance communicate and he was “confident of our partnership,” adding that every producer was a “resp

U.S. government debt prices changed course to climb on Tuesday morning as markets continue to rattle amid global coronavirus fears. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was down at 1.3604% having hit its lowest intraday level in over three years on Monday. The yield on the 30-year Treasury bond was also lower at 1.8261% but remained above the all-time lows notched on Monday. A sharp rise in cases of the new coronavirus in Italy, South Korea and th

Under Donald Trump’s presidency, the U.S. has sought to convince countries to outright ban Huawei from next-generation mobile networks known as 5G. The U.K., one of America’s closest allies, said Huawei can play a limited role in its 5G rollout . But it is true that the U.S. doesn’t have a player that can offer an end-to-end 5G setup like Huawei can. Any attempt to try to set up a Huawei rival in 5G is just too late. In light of this, the U.S. options are limited when it comes to competing with

As veganism grows in popularity around the world, there is increasing pressure for employers to catch up and make the workplace more inclusive. Measures proposed by the U.K. charity The Vegan Society include dedicated vegan shelves in office fridges, as well as color-coded equipment and separate food preparation areas. The number of vegans in the U.K. alone quadrupled between 2014 and 2019, growing from 150,000 to 600,000 people, according to the charity. Vegans don’t consume animal products and

Analysts believe European banks are now entering a new phase, despite more work still being needed to regain market share. “The recent CEO movement trend is perpetuated by a mini-bank sector cycle coming to a close,” Tom Kinmonth, senior fixed income strategist at ABN AMRO, told CNBC via email Monday. European banks have considered mergers as a way to boost their business. “Banks have spent the last four years making huge changes in their structure to accommodate the host of challenges and chang

The Dow closed 1,000 points down Monday, but personal finance expert Suze Orman isn’t worried. In fact, Orman, author of “The Ultimate Retirement Guide for 50+,” says investors should be “quite happy” if the market continues to go down. “They should want to buy at a lower price,” he says. If the news has you spooked, then turn it off and stop checking the markets for a while. The only sure thing about the markets is that you won’t able to time them, which is where dollar-cost averaging comes in.

A man communicates with a customer through the door of a market in Dongsi Subdistrict on February 24, 2020 in Beijing, China. The World Health Organization (WHO) has warned countries to be prepared for the coronavirus to be “literally knocking at the door.” It comes amid intensifying concern about the coronavirus outbreak, with the deadly flu-like virus spreading to more than two dozen countries in recent weeks. As of Tuesday, China’s National Health Commission reported 77,658 confirmed cases of

Home Depot beat Wall Street’s expectations for the fourth quarter, and its CEO Craig Menear said the results indicate its significant investments in the company are paying off. Revenue fell 2.7% to $25.78 billion from $26.49 billion a year ago, but it outpaced analyst estimates of $25.76 billion. Home Depot’s sales per square foot were $425.70, up nearly 3% from $414.17 a year ago. Home Depot’s shares have been trading near an all-time high, buoyed by a strong U.S. economy and a housing market w

Money Sharma | AFP | Getty ImagesThe rivalry between the U.S. and China is playing out in India, where American President Donald Trump will be wrapping up his state visit to the South Asian country. Experts said that Trump’s first state visit to India signifies the growing strength of the relations between Washington and New Delhi, amid China’s rising clout in South Asia. India recently approved plans to purchase 24 military helicopters worth $2.6 billion from American defense firm Lockheed Mart