Facebook on Friday said Netflix CEO Reed Hastings will not be nominated for re-election at the company’s 2019 annual stockholders meetings. Hastings has served on the board of the social media company since 2011. The company said it will also not be re-nominating Erskine Bowles the president emeritus of the University of North Carolina, and
Month: April 2019
A dozen Democratic senators introduced a bill on Thursday to overhaul the popular but challenged Public Service Loan Forgiveness Program. The legislation, the What You Can Do for Your Country Act, would dramatically expand the pool of student loan borrowers who are eligible to have their debt cancelled. Sens. Tim Kaine (D-Virginia), Elizabeth Warren (D-Massachusetts),
CNBC’s Jim Cramer on Thursday said it’s time for “wholesale change” in Bed Bath & Beyond‘s management. “The company still has a good balance sheet, $1 billion in cash, so I think it can be saved,” the “Mad Money” host said. “But I gotta tell you something: not with this management team.” The home goods
It’s tax time in America — and not just for accountants. The April 15 deadline for federal tax returns is fast approaching. At the same time, taxing the wealthy is becoming a big political issue in the leadup to the 2020 presidential election. Rep. Alexandria Ocasio-Cortez, D-N.Y., proposed a 70 percent marginal tax rate on
The President Donald Trump administration announced its plan this week to officially designate Iran’s military unit, the Islamic Revolutionary Guard Corps (IRGC), as a foreign terrorist organization (FTO), effective April 15. The unprecedented move garnered swift reaction from critics as well as the Iranian government, which subsequently labeled the U.S. a terrorism supporter and Centcom,
Disney Chairman and CEO Bob Iger explained to CNBC’s David Faber that he believes customers will flock to the company’s new streaming service, Disney+, thanks to a unique combination of factors. “I’m pretty optimistic about the ability for this thing to work. Particularly when you make it accessible because of the content we’re putting on,
Say what you will about presidential hopeful Sen. Elizabeth Warren, D-Mass., but it looks like she’s getting some good tax advice. Warren released her 2018 tax return Wednesday. She filed jointly with her husband Bruce H. Mann, a professor at Harvard Law School. The two reported total income of $905,742 and paid total taxes of
Big banks are leading the way into earnings season, and Wall Street is on close watch. Last quarter was softer than expected for most of the country’s largest financial companies, which were still feeling the pain from the stock market’s late-2018 sell-off. But this time, experts are cautiously optimistic on what the next quarter will
Vice President Mike Pence said Wednesday that the American dream was “dying until President Donald Trump was inaugurated” in 2017. “Was the American dream in trouble? You bet,” Pence said in an interview with CNBC’s Joe Kernan on “Squawk Box” Thursday morning. “I really do believe that’s why the American people chose a president whose
History seems to be on the bull’s side. The first quarter’s record rally that gave stocks their best start to a year since 1998 could turn out also to be a good omen. According to BMO, every time the S&P 500 scored a gain of 10% or more in the first quarter of a year
Shares of Levi Strauss & Co. rose in extended trading Tuesday after the world’s biggest jeans seller reported its first quarterly earnings since its initial public offering on the New York Stock Exchange last month. For the first quarter, Levi said it swung to earnings of $146.6 million, or 37 cents per share, from a
J.Crew said it is exploring a potential initial public offering for its fasted growing brand Madewell. J.Crew Group, Inc. (the “Company”) today provided a strategic update, including the announcement of a review of strategic alternatives for the Company, as well as certain leadership and governance changes. The Company, in consultation with its legal and financial
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 health-care field, battling the opioid epidemic. South Korean automaker Hyundai announced this month that it will give $900 to people with student debt
CNBC’s Jim Cramer on Wednesday took a deeper look at Dirty Lemon, the health-conscious drink owned by Iris Nova, to understand how its business model could help keep down inflation: embrace the honor system. “If this method catches on, it’s easy to see how our economy can keep growing with hardly any meaningful wage inflation,”
Technology firms aren’t paying their fair share in taxes and it’s time to find a global approach to the problem, German Finance Minister Olaf Scholz told CNBC. “My biggest concern with the tech companies is that they tend to pay taxes nowhere,” Scholz told CNBC’s Annette Weisbach in an interview earlier this week. Google, Amazon,
Delta Air Lines posted first-quarter earnings Wednesday that beat Wall Street’s expectations for both profit and revenue. “Demand for Delta’s product has never been stronger,” President Glen Hauenstein said in a statement announcing the earnings. “With our customer-focused commercial initiatives delivering strong customer loyalty and top-line momentum, we now expect full-year revenue growth of five
Apple has convinced its top manufacturing partner, Foxconn, and its primary chip manufacturer, TSMC, to commit to powering their operations making Apple products with renewable energy, the company announced Thursday. The two manufacturing giants are part of a new batch of 15 suppliers which have committed to run production for Apple products using clean energy,
Here’s a home improvement project nobody looks forward to: replacing a sewer line. For homeowners, the mortgage, property taxes and insurance only account for a portion of the cost of owning an abode. It’s those surprise emergency repairs that can destroy your budget. Indeed, 18% of homeowners polled by HomeServe USA said that they had
When investors are deciding where to stash their cash for retirement, there are several options. Americans rely more and more on saving in their employer-sponsored 401(k) plans — which are heavily funded by tax-deferred salary deferrals from the employee and tax-deferred employer matching contributions. Once employment ends, these 401(k) plan accounts are often rolled over
The lack of financial understanding by consumers has been signaled as one of the main reasons behind savings and investing problems faced by many Americans. To that point, a variety of financial research and reports have made it clear that we, as a country, need to focus on financial literacy. The TIAA Institute-GFLEC Personal Finance
Private jet company Vista Global agreed to acquire JetSmarter, betting that the value of JetSmarter’s technology will outweigh the controversy and lawsuits still dogging the company. Terms and price weren’t disclosed. The deal, once approved, will be an equity swap, with JetSmarter investors receiving equity in Vista Global. Vista said it plans to integrate JetSmarter’s
The leaders of the biggest U.S. banks have a message for Congress: Take a closer look at the ballooning markets for student and corporate loans. Rep. Jim Himes asked a panel of seven CEOs, brought together Wednesday for a House Financial Services Committee hearing, what they thought were the products or markets that could threaten
Quraterly earnings for the S&P 500 are expected to decline for the first time since the second quarter of 2016, even though the index is just 2% from its historic high. First-quarter earnings for the S&P 500 are projected to decline 2.5% from last year, according to Refinitiv consensus estimates. Stocks up with earnings down?
Outdoor apparel company Patagonia filed a lawsuit Tuesday against Anheuser-Busch InBev, claiming that the brewer’s Patagonia beer is a “copycat brand.” Patagonia alleges that AB InBev is trying to take advantage of the apparel company’s goodwill. The brewing giant only recently began testing its Patagonia brand stateside, after years of success in Argentina. The Ventura,
Relationship advice — “be honest, talk it over, respect each other’s feelings” — often goes right out the window when you’re in an actual relationship. Take money. Who talks about it honestly? Who can have calm discussions when tempers are running high over someone’s spending habits? “We don’t talk about money with anyone, even our
S&P Dow Jones Indices, a unit of S&P Global Inc., is launching an environmental, social and governance version of its S&P 500 Index in an effort to meet increased investor demand for impact-investment products based on U.S. equities. In the coming months, S&P DJI will also launch a global family of ESG indices based on
Earnings season is drawing nigh and one more pullback before the week ends could be a positive for the market, CNBC’s Jim Cramer said Tuesday. Tuesday’s decline, where the three major indexes all fell less than 1%, was a “very healthy” move before companies start reporting, he said. “Let’s just say they have plenty of
Consumer inflation probably got a boost from rising gasoline prices in March, but it should not break out above the subdued pace that encouraged the Federal Reserve to keep interest rates on hold when it met last month. Both the consumer price index and minutes from that March meeting are scheduled to be released Wednesday.
British online fashion retailer ASOS on Wednesday reported an 87 percent drop in first-half pretax profit, hurt by poor trading in the run-up to Christmas and logistical hiccups as it entered the U.S. market. The company stuck to its guidance for sales, profit margins and capital expenditure for the full year as it invests heavily
On Sept. 28, 2018, President Donald Trump signed into law a bill allowing people with cancer to put their student loan payments on hold. The rollout of the new program has been rocky. The Education Department, in a notice in the Federal Register, writes: “The law was immediately effective, meaning that borrowers can immediately request
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