Alibaba has set a likely price for shares for institutional investors in its upcoming Hong Kong listing, a source with direct knowledge of the matter told CNBC. The e-commerce giant’s shares will likely be priced at 176 Hong Kong dollars ($22.48), the source said. The retail portion of the secondary listing has not been priced yet, but that is expected on Wednesday. Retail shares are “likely to be priced around the same level” as the institutional portion, the source told CNBC. Alibaba got the g

They’ve also been vocal about the fact they’d prefer people didn’t climb Uluru, as this was seldom allowed in the past. Eighty percent of tourists to Uluru-Kata Tjuta National Park respected the request, although the other 20% chose to haul themselves up the rock’s 348-meter (1,141 feet) surface regardless. The climbing ban was marked by a ceremony by the Anangu, the original owners of the land that is now part of Uluru-Kata-Tjuta National Park. Tourism NT/Mitchell CoxWalking all or part of Ulur

China could launch its own digital currency within the next 6 to 12 months, in what could become a challenge to the U.S. dollar’s global dominance, according to fund manager Edith Yeung. Asked how soon a virtual yuan could become a reality, she said it could be “quite soon.” “So I think definitely within the next six to 12 months,” said Yeung. State media reported that President Xi Jinping said China should look to take a lead in the technology. That’s because they are key to facilitate and mana

China and the United States are fighting the “wrong war” by imposing tariffs worth billions of dollars on each other, according to a senior executive at Beijing-based think tank. “The trade war, or the tariff war, is the wrong war to fight,” said Gao, who is also a regular commentator for state-owned China Global Television Network. China will not surrender to the United States as far as the trade war is concerned. Acknowledging problems that persist in the Chinese market, he said solving them r

The U.K.’s Conservative Party renamed one of its official Twitter accounts to “factcheckUK” Tuesday night, masquerading as a political fact-checking service in the midst of a televized pre-election debate. Britain’s ruling political party also temporarily replaced its profile picture with a check mark, seemingly in an effort to make social media users assume it was a verified fact checker. Its Twitter handle, @CCHQPress, was however unchanged, and its cover photo stated it was from the communica

Noam Galai | Getty Images for TechCrunchFinancial technology start-up Robinhood is gearing up to launch its commission-free stock trading app in the U.K. The company received broker authorization from the Financial Conduct Authority over the summer to launch its services in the country. “We’re bringing the best of years of product development in the U.S. to U.K. customers,” Wander Rutgers, president of Robinhood’s U.K. business, told CNBC in an interview. Revolut recently announced it would star

DUBAI, United Arab Emirates — Dubai’s flagship carrier Emirates Airline finalized a deal to purchase 30 of Boeing’s 787-9 Dreamliner jets, executives of both companies announced Wednesday at the Dubai Air Show. The order is valued at $8.8 billion at list prices, but a steep discount is typically negotiated by airlines. Clark in October revealed lofty plans to expand the Emirates fleet by 30% by the end of 2025. In addition to its order of 30 Boeing jets Wednesday, it announced an order of 50 Air

U.S. tech firms could face new challenges in Europe amid a growing debate about data privacy and security. Some European leaders across the 28-member bloc are voicing concerns about the reliance on American and Chinese tech companies for storing data. Chancellor Angela Merkel of Germany said last week that many European companies have outsourced their data to U.S. firms. Six out of the 10 biggest tech companies in the world are American; and there is no European firm among that list. Rather than

U.S. stock index futures were lower Wednesday morning. ET, Dow futures fell 124 points, indicating a negative open of more than 132 points. Futures on the S&P and Nasdaq were also pointing to a slightly lower open. President Trump threatened Tuesday to impose higher tariffs on Chinese goods if Beijing does not make a deal on trade. “If we don’t make a deal with China, I’ll just raise the tariffs even higher,” Trump said at a Cabinet meeting.

Injured protesters wrapped in emergency thermal blankets leave the campus of the Hong Kong Polytechnic University in the Hung Hom district on November 19, 2019 in Hong Kong, China. Billy H.C. Kwok | Getty Images News | Getty ImagesChina’s foreign ministry on Wednesday criticized the U.S. after the Senate unanimously passed a bill supporting Hong Kong protesters. “The ‘Hong Kong Human Rights and Democracy Act’ and the other act on Hong Kong are unnecessary and unwarranted. They will also harm the

Capital One and OpenTable announced a new partnership giving cardholders exclusive access to premium reservations at prime dining times in select cities, after a one-time verification. Capital One cardholders can book reservations for two or four people. To book a Premium Access reservation, Capital One cardholders can take the following steps:Download the OpenTable App or update to the latest version. The partnership is just one more perk foodies with a Capital One dining rewards card can enjoy

“You’re not going to change your behavior until you change your thinking,” Newcomb says. “The biggest financial mistakes aren’t fixed with nudges, they require a change of personality.” While it may come naturally for some people to envision, and build wealth for, their life 30 years down the road, other people can only think three months ahead. However, the more that you can adopt a long-term mindset, the better prepared you’ll be for the future, Newcomb says. Creating a budget to track your mo

How a cash advance worksA cash advance is basically a short-term loan offered by your credit card issuer. Cash advance APR: Cash advances carry a separate, and often higher, interest rate than purchases or balance transfers. Cash advance fee: Your card issuer often charges a cash advance fee, which is typically 3% or 5% of the total amount of each cash advance you request. Your card issuer often charges a cash advance fee, which is typically 3% or 5% of the total amount of each cash advance you

Tiger Qie, VP of Didi Chuxing and CTO of Didi’s Ride sharing Business Group, speaks with CNBC’s Arjun Kharpal onstage at the East Tech West event in, Guangzhou, China. Didi Chuxing, the Chinese ride-hailing company, is set to launch a so-called robo-taxi service in Shanghai “very soon.” “We are going to launch a robo-taxi service in Shanghai very soon,” Tiger Qie, Didi’s vice president and chief technology officer of its ride-sharing unit, said onstage at CNBC’s East Tech West event in Guangzhou

European markets ended lower to edge into negative territory on Tuesday afternoon, amid uncertainty and pessimism over the outcome of trade talks between the U.S. and China. The pan-European Stoxx 600 closed 0.2% during afternoon trade, having earlier hit its highest since May 2015. Travel and leisure stocks jumped 0.6% to lead gains, as most sectors fell below the flatline. The status of trade talks between economic superpowers China and the U.S. remains in focus for global investors. Across th

The American Medical Association called for a total ban on all vaping products that haven’t been approved by the Food and Drug Administration to help quit smoking, the nation’s largest association of physicians announced Tuesday. The AMA also urged more research funding to study the effects of e-cigarette usage, new diagnostic codes for vaping related illnesses and thorough study of strategies to treat juvenile nicotine dependence resulting from e-cigarette usage. The Trump Administration is cur

A Volkswagen ID Space Vizzion Concept car. Space Vizzion concept is a preview of a production vehicle that the automaker plans to release in late 2021. In the Space Vizzion Concept, a single, rear-mounted motor produces 275 horsepower. It’s in the cabin that the Space Vizzion concept looks its most, well, spacey. A Volkswagen ID Space Vizzion Concept car.

LOS ANGELES – Audi on Tuesday unveiled the all-electric e-tron Sportback with tech-savvy features such as camera-based “side mirrors” and a new dynamic lighting system. “They’re really amazing, not only for safety, but to make your neighbors a bit jealous,” said Sebastian Dingert, product manager for the Audi e-tron. The lights are stationary, but essentially project lighting from the system onto the road. Earlier this year, AAA called for U.S. headlight standards to be updated to allow for dyna

Billionaire investor Carl Icahn is placing a $400 million bet against struggling malls, taking on two of the largest investment firms, according to a report in the Wall Street Journal. Icahn stands to make millions if mall owners are unable to pay off their debts, people familiar with the matter told the Journal. Traders in market told the Journal that Icahn “likely is the largest short seller of mall debt.” So these mall owners are having to get creative, bringing in more food options, and even

Selling software service stocks on trade worries is a ‘big mistake,’ Jim Cramer saysSoftware-as-a-service stocks “tend to come bouncing back with alacrity because these companies are forces of nature,” “Mad Money’s” Jim Cramer says.