The ongoing spread of a new coronavirus disease, recently named COVID-19, could hit the revenue of Southeast Asia’s largest bank this year, its chief executive said on Thursday. Piyush Gupta, the CEO of Singaporean bank DBS, said the impact on its full-year revenue is estimated to be 1% to 2%, assuming the virus outbreak is controlled by summer. Gupta’s comments came after DBS posted a fourth-quarter net profit of 1.51 billion Singapore dollars ($1.09 billion). That’s a 14% rise from the same pe

Xiaomi CEO Lei Jun unveils the company’s flagship 5G Mi 10 and Mi 10 Pro smartphones at an event in Beijing, China on February 13, 2020. The world’s fourth-largest smartphone maker took the wraps off the Mi 10 and Mi 10 Pro at an event in Beijing. Xiaomi, however, has suffered in China’s smartphone market with shipments of its devices falling more than 21% year-on-year in 2019, according to IDC. Overall, the entire Chinese smartphone market fell 7.5%, and IDC suggested that consumers are “waitin

The Swiss lender reported a net income of 3.4 billion Swiss francs ($3.48 billion) for 2019. For the final quarter of the year, the Swiss bank posted a net income of 852 million Swiss francs. Analysts had estimated a net income of 838.5 million Swiss francs for the fourth quarter and 3.2 billion Swiss francs for the year. Here are some other highlights for the year:Net revenues reached 22.4 billion Swiss francs, vs 20.9 billion Swiss francs in 2018. Operating expenses rose 1% from 2018 to 17.4 b

Barclays’ Chief Executive Jes Staley is being investigated over his links to Jeffrey Epstein, the American financier and convicted sex offender who committed suicide in jail last year. According to Barclays on Thursday, Staley developed a “professional relationship” with Epstein earlier in his career, but they had no contact since Staley joined the British bank in 2015. “As has been widely reported, earlier in his career Mr. Staley developed a professional relationship with Mr. Epstein. In the s

The pan-European Stoxx 600 was around 0.4% lower at the opening bell, with every sector plunged into negative territory. European markets opened lower on Thursday morning as the coronavirus epidemic remains the primary focus for investors. European shares had rallied to new highs on Wednesday as luxury stocks were lifted by a fall in the number of new coronavirus cases reported in China the previous day. The number of new cases rose dramatically after the province changed its method of reporting

Stocks in Asia Pacific edged higher on Thursday morning as investors weighed a spike in the number of new coronavirus cases reported in China’s Hubei province due to a tweak in methodology. Mainland Chinese stocks gained in early trade, with the Shanghai composite up 0.15% and the Shenzhen component adding 0.2%. Shares of conglomerate Softbank Group continued to see gains after Wednesday’s surge, gaining 0.71% in morning trade. Shares in Australia were also higher in morning trade, with the S&P/

— Josephs9:20 am: Shunned cruise ship finally docks in CambodiaA cruise ship which was turned away by five countries on fears that someone aboard might be infected, was finally accepted by Cambodia. The case of the Diamond Princess cruise ship, where thousands have been quarantined, had stoked fears. 7:55 am: Hubei province reports 14,840 new casesChina’s Hubei province reported an additional 242 deaths and 14,840 new cases as of Feb. 12 — a sharp increase from the previous day. The health minis

That means you have until April 15, 2020, to make your 2019 contribution, up to last year’s limit of $6,000. If you’re making a contribution for the 2019 tax year, those limits are $3,500 and $7,000, respectively. Check to see if you’re eligible for the EITCRoughly 1 in 5 taxpayers who are eligible for the earned income tax credit never claim it, according to IRS data. If you earned less than $56,000, you may be eligible for the earned income tax credit. You also must have earned income through

Consumers looking for premium travel perks at Marriott properties as well as a competitive rewards program should consider the Marriott Bonvoy Brilliant™ American Express® Card. Marriott Bonvoy Brilliant American Express Card rewardsA card like the Marriott Bonvoy Brilliant™ American Express® Card stands out because of its numerous benefits for hotel guests. Complimentary Marriott Bonvoy Gold Elite status: Without spending anything, cardholders receive Marriott Bonvoy Gold Elite status — which c

Traders work on the floor of the New York Stock Exchange shortly after the opening bell in New York, January 24, 2020. It’s been a volatile year so far and that’s the environment where hedge funds are supposed to thrive. Goldman Sachs has a portfolio tracking this big money and it’s off to a great start this year. The so-called hedge fund “very important position” basket from Goldman is crushing the market in 2020, returning 7% this year. The portfolio contains the 50 stocks that appear most oft

But Josh Brown, CEO of Ritholtz Wealth Management, says new investors need to focus on understanding how money works, and why they want to invest, before they even can begin to think about picking stocks. That is understanding money, understanding why you need to put it to work.” Knowing how the market works will help you set realistic goals for your money. And according to Brown, setting specific goals is the most important step for new investors. Check out this video to learn Brown’s other tip

Three things every new investor needs to knowJosh Brown, CEO of Ritholtz Wealth Management, says new investors need to worry less about which stock to buy and more about why they want to invest. Understanding why you want to invest can help you determine a level of risk that you are comfortable maintaining. Watch this video to learn the other tips Josh Brown says new investors need to know.

In a Medium post announcing the bill, Gillibrand name-checks Google and Facebook as just a couple of the tech companies that have capitalized on users’ data. It adds to a growing stack of bills aimed at empowering consumers with new digital rights and keeping tech companies’ data collection in check. Sen. Kirsten Gillibrand, D-N.Y., just unveiled her new proposal for digital privacy legislation, including a new federal agency to enforce consumers’ privacy rights online. Civil penalties would var

And in January, the state of Ohio joined the ranks of organizations working to solve for the talent shortage. Mike DeWine signed a bill into law that commits $17.5 million a year to businesses who will pay for employees to upgrade their technology skills. Participants must apply to the program, and applications are scored competitively based on several factors. TechCred completed its first round of applications in October 2019, and state funds were awarded to 1,576 workers from 234 employers. It

Amazon SVP Carney: There was ‘blatant political interference’ in JEDI contractJay Carney, Amazon SVP of Global Affairs, joins “Squawk on the Street” to discuss the company’s push for a review of the JEDI contract with Microsoft.

Army secretary: We’re locked and loaded to respond to coronavirusArmy secretary Ryan McCarthy sits down with CNBC’s Morgan Brennan to discuss cloud computing and cybersecurity, coronavirus and more.

Watch CNBC’s full interview with Amazon SVP Jay CarneyJay Carney, senior vice president of global affairs for Amazon, joins “Squawk on the Street” to discuss the company’s push for a review of the government’s JEDI contract, minimum wage and more.

Google Cloud’s Thomas Kurian on the future of cloud computingCNBC’s Jon Fortt details his discussion with Google Cloud CEO Thomas Kurian on the direction of cloud computing.

The Verge’s Nilay Patel: Amazon can pad their margins at willJoanna Stern from the Wall Street Journal and Nilay Patel of The Verge discuss Amazon strength in e-commerce and the fight over the JEDI contract.

Brendan McDermid | ReutersDow Jones Industrial Average rises 275 pointsThe Dow surged 275.08 points, or 0.94%, to close at 29,551.42. Record highs for Dow, S&P 500The Dow and S&P 500 hit record highs despite the number of coronavirus cases increasing. “We have been saying that future stock gains would require P/E multiple expansion,” said Nick Raich, CEO of The Earnings Scout. Micron and Facebook riseMicron shares gained 3.53% after a UBS analyst upgraded them to buy from neutral. Facebook share