A new corporate accounting rule is about to pull an estimated $3 trillion out of the shadows. Starting this year, companies are required to record the cost of renting assets used in their operations, such as office space, equipment, planes and cars, on their balance sheets rather than bury that expense in the footnotes of
Month: February 2019
NBA Commissioner Adam Silver is flattered by the reports that the NFL and Fortune 500 companies are interested in recruiting him for future leadership positions. That said, he has a message for those indulging in the speculation: He’s not going anywhere. “I love my job at the NBA,” he told CNBC on Saturday. “The NBA
As student debt grows, so do the plans to squelch it. A new federal program offers up to $75,000 in student loan relief for those who work for three years in the healthcare field, battling the opioid epidemic. Meanwhile, student loan assistance, which started as a niche offering by a handful of companies, is finding
Investors can trust that Nvidia’s stock has bottomed following its upbeat earnings report for a few key reasons, CNBC’s Jim Cramer said Friday after the chipmaker’s shares gained 1.82 percent. The first is CEO Jensen Huang’s own outlook for his industry, which he put quite simply on the post-earnings conference call: “The world needs more
Instead of trying to beat a wave of high-growth financial technology startups at their own game, a group of small banks is opting to join them. These low profile community banks quietly run the plumbing underneath billion-dollar fintech firms like Square, Stripe and Robinhood — handling mundane banking activities for them like holding customer deposits
Investors can trust that Nvidia’s stock has bottomed following its upbeat earnings report for a few key reasons, CNBC’s Jim Cramer said Friday after the chipmaker’s shares gained 1.82 percent. The first is CEO Jensen Huang’s own outlook for his industry, which he put quite simply on the post-earnings conference call: “The world needs more
It’s no secret that for most retirees, Social Security is an important part of their income. Exactly how much varies from individual to individual — and, apparently, from city to city. Among 100 U.S. cities with the largest 65-and-older populations, Social Security makes up an average 42 percent of retiree income, according to recent research
[This video is exclusive content for CNBC PRO subscribers and will appear above this story when logged in.] Doug Ramsey, the chief investment officer of The Leuthold Group, said U.S. equities may still be in the throes of an extended bear market and he would look to domestic value stocks or even overseas for better
English Premier League leaders Manchester City has a squad valued at over $1 billion and is still on course for an unprecedented quadruple of trophies this season, but this weekend it’s faced with an unusual challenge. For the fifth round of this season’s FA Cup, England’s major domestic cup competition, Manchester City has been drawn
Check out the companies making headlines midday Friday: XPO Logistics – XPO stock tanked a whopping 17 percent after the transportation company reported disappointing fourth-quarter results. Its earnings came in eight cents shy of estimates with adjusted quarterly profit of 72 cents per share, and the company’s revenue also fell short of expectations. XPO also
Shares of toy maker Mattel plunged more than 15 percent on Friday after the company posted weaker-than-expected full year 2019 guidance during an analyst meeting in New York. The company said it expects adjusted EBITDA to be in a range of $350 million to $400 million for 2019, below analysts expectations of $551.6 million, according
There are big tax refunds, and then there are $980,000 tax refunds. Ramon Christopher Blanchett, of Tampa, Florida, and self-described freelancer, managed to scoop up a $980,000 tax refund after submitting his self-prepared 2016 tax return. He also allegedly claimed that he earned a total of $18,497 in wages — and that he had withheld
Danny Moses, a legendary investor who shorted subprime loans prior to the financial crisis in 2008, told CNBC that the cannabis industry in America has the makings for a big long. “I’ve never seen a sector have the political tailwinds, the economic tailwinds, and the wellness tailwinds that this sector potentially has,” he said on
More people are feeling optimistic about their own finances, according to Gallup. In a recent poll, nearly 7 out of 10 participants said they expected to be “better off” financially by this time next year. The company surveyed 1,017 U.S. adults by phone in January. This level of optimism hasn’t been seen in 16 years,
Check out the companies making headlines after the bell: NVIDIA shares jumped more than 9 percent after hours Thursday based on the chip company’s better-than-expected fourth-quarter earnings. The company posted earnings of 80 cents per share on revenue of $2.21 billion. Wall Street estimated earnings of 75 cents on revenue of $2.2 billion. The company
China’s Consumer Price Index missed expectations in January coming in at 1.7 percent higher than a year ago, the National Bureau of Statistics said on Friday. Economists polled by Reuters were expecting CPI to come in at 1.9 percent higher on year. December CPI — a gauge of prices for goods and services — rose
Student loan borrowers would have their monthly bills automatically deducted from their paychecks if a Republican-backed proposal becomes law. Sen. Lamar Alexander, R-Tenn, chairman of the Senate Health, Education, Labor and Pensions Committee, laid out the details of the massive overhaul to the student loan system in a speech earlier this month. The changes could
One cloud tech stock has risen further and faster than all the rest. Twilio has surged more than 300 percent in 12 months, miles ahead of double-digt gains by Adobe, Workday and Salesforce. Blue Line Futures’ Bill Baruch says it might be too late to jump into the stock now. “Don’t simply chase this stock
Many people looking for love online are finding loss instead — roughly $2,600 in lost cash that was lovingly wired to an online sweetheart who mysteriously disappeared. The Federal Trade Commission received 21,000 reports of romance scams in 2018 — its highest reported number yet —with victims losing a total of $143 million, the agency
Former Homeland Security chief Tom Ridge is now at the center of growing concerns over security and passenger screening at JetSmarter. Following a CNBC investigation into the company last month, JetSmarter, the Florida-based private jet start-up, sent an email to members highlighting its security policies, saying its “proprietary safety and security infrastructure on the ground
As you’re scouting your dream retirement locale abroad, don’t forget to ask about those senior discounts. Retiree discount programs are available, for example, in a number of Central and South American countries. These programs offer senior citizens a range of perks, including affordable health care, reduced costs on travel and lower taxes. There’s a catch
Investors can now boost their capital and support small businesses in one fell swoop by following a new, growing theme in retail: using technology to empower small businesses, CNBC’s Jim Cramer said Wednesday. The idea struck Cramer when he interviewed Shopify Chief Operating Officer Harley Finkelstein on Tuesday. Not only does the company help celebrities
Virgin Group founder Richard Branson is part of the growing circle of elite business players questioning wealth disparity in the world today. Amid heated debate about whether the rich should be more highly taxed, the billionaire philanthropist weighed in with his own view during the Milken Institute Summit in Abu Dhabi this week. “We have
A bear market could be just the beginning of the pain for most cryptocurrencies, according to one widely followed industry expert. Barry Silbert, CEO and founder of Digital Currency Group and Grayscale Investments, said besides bitcoin the majority of the once blazing hot crypto market will eventually be worthless. “I’m not a believer in the
With all of the investors fretting about the trade war with China and the Federal Reserve’s plans for interest rates, what CNBC’s Jim Cramer is really worried about here is jeans. “Yep, I think the biggest threat to this bull market is denim,” he said Wednesday on “Mad Money” as stocks rose on hopes of
The longest government shutdown in history could not have come at a worse time for the IRS, the National Taxpayer Advocate has told Congress. The IRS was heading into its first filing season under the massive new tax law when the federal government partially closed. Among the changes was the raising of the standard deduction
Alibaba co-founder Joseph Tsai told CNBC on Tuesday that the “structural issue” of the United States’ trade gap with China will reverse itself as the Chinese ramp up imports. The trade deficit will shrink once the Chinese government begins purchasing $40 trillion worth of goods as promised over the next 15 years, he said. Even
Chris Hughes, co-founder of Facebook and an advocate for wealth equality, told CNBC on Monday that he and other ultrawealthy Americans should be paying higher taxes to help make life better for everyone in society. “We have a free-rider problem. The top 1-percent — and even more specifically the top 0.1-percent, those with household wealth
Check out the companies making headlines after the bell: Shares of Activision Blizzard were volatile in extending trading Tuesday following a mixed fourth-quarter earnings report and weak outlooks for both the first quarter and full year. The stock initially fell 3 percent after the company reported earnings of $1.29 per share on revenues of $2.84
LOS ANGELES — In his first state of the state address on Tuesday, California Gov. Gavin Newsom proposed “a new data dividend” that could potentially allow residents to get paid for providing access to their data. “California’s consumers should also be able to share in the wealth that is created from their data,” Newsom said,
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