Apple CEO Tim Cook said on Monday that the company’s new credit card “is uniquely positioned to make the most significant change in the credit card experience in 50 years.” Some credit card experts are less excited. “Frankly, I’m underwhelmed,” said Ted Rossman, an industry analyst at CreditCards.com. “This card will get a lot of
Month: March 2019
You’ve probably heard of the FIRE — financial independence, retire early — movement, the trend that’s taken hold among individuals who are mostly in their 20s and 30s. But you probably haven’t heard of the “super savers,” Americans age 45 and older who are putting away at least 20 percent of their income — or
For investors worried about rising costs biting into corporate margins, J.P. Morgan said don’t worry. Margins are looking stretched with headline EPS margins moving up consecutively over the last few years, making investors believe they can only go lower from here. Adding to the concerns is the late stage of the economic cycle and the
Yale University has rescinded the admission of a student linked to the national college admissions scandal that implicated 50 people, including celebrities, coaches and administrators, in paying and accepting bribes to get students into elite colleges. Thomas Conroy, Yale University spokesman, told CNBC the university “has rescinded the admission of one student as a result
The bond market doubled down on scary warnings Monday, signaling both a possible recession is looming and that the Fed could have to cut interest rates this year to stop it. “People are starting to get fearful,” said Andrew Brenner of National Alliance. “It won’t last for long, but they’re getting fearful about a recession.
Apple‘s stock dropped during the trading session because its batch of new products failed to impress the folks on Wall Street, CNBC’s Jim Cramer said Monday. “As I predicted, when the world’s largest company announced a whole slate of new products and services today, the stock got hammered and that weakness reverberated throughout the market,”
One of Wall Street’s biggest bulls suggests the latest market pullback is no fluke. Federated Investors’ Phil Orlando believes the 2019 rally is increasingly vulnerable to a setback that could reach into the second quarter. Yet, he contends it’s no reason for investors to hunker down. “You’re up about 20 percent from Christmas Eve’s bottom.
European shares are set to open lower on Monday, amid rising worries of an impending recession in the U.S. Britain’s FTSE 100 was seen 28 points lower at 7,179, Germany’s DAX down 50 points at 11,310, and France’s CAC off by 9 points at 5,260, according to IG index data. Market jitters have grown recently
A top executive at FedEx is flagging serious concerns in the global economy. The multinational package delivery service reported declining international revenue as a result of unfavorable exchange rates and the negative effects of trade battles. “Slowing international macroeconomic conditions and weaker global trade growth trends continue, as seen in the year-over-year decline in our
The Asia Pacific CEO of Credit Suisse is bullish on Asia’s growth. “I’m very excited about the region … the entrepreneurs are very resilient, the people are resilient — hardworking, and I think that’s the biggest asset that the region has to continue to grow,” Helman Sitohang told CNBC at the Credit Suisse Asian investment
Some high-profile, privately held companies — including Uber, Lyft, Pinterest and Airbnb — are about to break into the public market by launching an initial public offering. So, what exactly is an IPO? An IPO is the process by which a private company issues its first shares of stock for public sale. This is also
For multiple companies, it’s the moment they’ve been waiting for: The window has opened for them to go public. You’ve probably heard the names, including Levi Strauss, which made its public market debut this week. Ride-sharing businesses Lyft and Uber, among other companies, are also teed up to go public in the coming months. But
Nick Colas asserts the rush of tech IPOs does not point to a market bubble, and he has data to help prove it. The DataTrek Research co-founder lists historical trends one of two reasons why a free fall is unlikely. “We haven’t had a lot of tech IPOs. There were just 52 last year. In
The Powerball jackpot just won’t quit. After no one hit all winning numbers in Saturday night’s drawing, the top prize has jumped to a whopping $750 million. And while players daydream about what they’d do with such a windfall, they should remember they wouldn’t really end up with the advertised amount. Whether you take the
Wall Street traders and investors were preparing for a big rally after special counsel Robert Mueller‘s long-awaited investigation did not find enough evidence that President Donald Trump ‘s 2016 campaign colluded with Russia, according to Attorney General William Barr. Stock index futures open for trading at 6 p.m. ET. In a letter to top lawmakers,
BMW on Wednesday said it expected group pretax profit to fall by more than 10 percent in 2019 and announced a sweeping 12 billion euro ($13.6 billion) cost savings and efficiency plan to help offset higher technology investment and currency costs. Last week BMW said it would step up cost cutting in anticipation of a
Levi Strauss & Co., the 166-year-old bluejeans maker, went public on Thursday and closed its debut week with an $8.6 billion market cap. It’s the first time the company has traded publicly since 1985, when a San Francisco-based financier named Warren Hellman helped lead a $1.6 billion buyout. Hellman wasn’t particularly well-known at the time,
When it’s several decades away, you might categorize saving for retirement as a back-burner concern. And when you’re younger, contributing to an individual retirement account might seem like an impossible stretch. Yet people who made the leap generally say they’re sorry they didn’t start earlier. Millennials seem particularly drawn to Roth IRAs, which are showing
BB&T’s $28 billion deal last month to buy SunTrust is the largest U.S. bank tie-up since the financial crisis and one that many expect will trigger even more consolidation in the industry. While Democrats continue to criticize big banks as an unchecked risk to the economy, regulatory pressure has eased up amid Trump-era rollbacks. That’s
Prudential, the United Kingdom’s largest insurer, said it finished transferring some operations to Luxembourg about a week ago in preparation of Britain’s impending exit from the European Union. The insurer announced earlier this month that it was transferring 36 billion pounds ($47.58 billion) of assets to Luxembourg, which is to become the company’s hub for
Semiconductor stocks in South Korea soared on Thursday following the earnings release of U.S. chipmaker Micron Technology overnight, which bested expectations. Industry heavyweight Samsung Electronics and chipmaker SK Hynix saw their stock surge 4.09 percent and 7.66 percent, respectively. Beating on the top and bottom line, Micron reported earnings per share of $1.71 on revenue
Every month, a car would pick up Jeff Borghoff at his home in Forked River, New Jersey, and drive him to the Advanced Memory Research Institute of New Jersey. There, doctors would help him settle into a comfortable chair and hook him up to an IV. For the next 40 minutes to an hour, an
People don’t necessarily give to charity because of tax benefits, but it doesn’t hurt. However, the new tax law, among other things, has eliminated or sharply reduced the benefits of charitable giving for many would-be donors. Even though the deduction for donations is unchanged, you still need to itemize to claim it, and that’s a
These days, being young and in love just isn’t enough. Megan McDonald, 23 and her boyfriend, Nick Palmiotto, 25, have been together for over three years but their marriage plans are on hold. “We like the idea of being married young and starting a family younger — both of our parents were done having kids
Billion-dollar private companies are stampeding to go public this spring. But fear, not excitement, may be driving the herd. After a slow first quarter for public offerings, denim giant Levi Strauss kicked off its debut this week, with shares popping 31 percent on the New York Stock Exchange. The ride-hailing service Lyft is next up
U.S. chipmaker Micron Technology on Wednesday said it sees a recovery in the memory chip market coming and reported a quarterly profit that beat estimates as cost controls helped offset falling demand and prices, sending its shares up nearly 5 percent. Micron makes NAND storage chips that are used in phones and internet servers as
New England Patriots owner Robert Kraft apologized to his family, friends and fans and vowed to regain their confidence and respect in his first public statement since being charged with two counts of soliciting prostitution as part of a human-trafficking probe in South Florida. His statement, below, comes after prosecutors offered Kraft a deal on
The recent college admissions scandal underscores how difficult it can be for middle- and low-income students to get their foot in the door at elite institutions. “It is not a level playing field, even without cheating,” said Mark Kantrowitz, publisher of SavingForCollege.com. Less than 5 percent of students with parents in the bottom 20 percent
Lyft, the ridesharing company set to hit public markets Friday, will be a good stock to buy in the short term but it has challenges in the long run, CNBC’s Jim Cramer said Friday. “I think Lyft is exactly the kind of stock that can work in this slower growth environment, but you need to
The Federal Reserve’s policy pivot this week may be too late to save an economy that is suddenly struggling to avoid grinding to a halt. For the first time since before the financial crisis, short-term government bonds are yielding above their longer-duration counterparts, a tell-tale recession sign called an inverted yield curve. But it’s more
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