Stephen Pagliuca, Bain Capital Bain Capital, the 35-year-old private equity firm known for takeovers of companies like Varsity Brands and the now bankrupt Toys R Us, is raising $1 billion for a new technology fund that will be used for buyouts and late-stage minority investments, according to people familiar with the matter. The new fund
Month: May 2019
An Abercrombie & Fitch store in San Francisco. Getty Images Shares of Abercrombie & Fitch tanked Wednesday morning after the teen apparel retailer reported weaker-than-expected same-store sales growth and said it plans to close three more of its flagship stores, including a Hollister location in New York. Its stock was down more than 16% in
Steve Easterbrook during an interview with CNBC’s “Squawk on the Street, ” on May 28, 2019. CNBC McDonald’s CEO Steve Easterbrook said that trade tensions between the U.S. and China have “absolutely not” not changed its strategy in the Asian country. “In terms of long-term interest, it’s a very important market for us, and I
Connecticut’s governor on Tuesday signed a bill into law that will increase the state’s minimum wage to $15 an hour by 2023. The state thus joins a growing list of jurisdictions where the amount is higher than the federal government’s minimum of $7.25. Here’s a map showing the current minimum wage in each state, as
Climate change could dramatically alter the value of real estate investments. And that goes for real estate investment trusts, companies that own income-producing real estate, if they do not shift their investment strategies to address growing risks, industry experts say. A 2018 report found that 35% of REIT properties have geographic exposure to climate hazards,
Amazon Web Services at the 2019 CERAWeek in Houston, TX. Mary Catherine Wellons | CNBC Amazon‘s stock could be worth $2,500 a share in one year, Cowen said, valuing its Amazon Web Services business at a whopping $505 billion. Cowen raised its 12-month price target for Amazon to $2,500 from $2,400, which would translate into
With the Trump administration blacklisting Huawei, China’s biggest tech player, we’ve seen stocks suffer and trade tensions heighten. The company makes phone and networking equipment, but according to the U.S. government, it’s also also a security risk for 5G networks. As the dispute continues, what does this mean for the global tech sector and the
Factories in China’s Shandong province. Zhang Peng | LightRocket | Getty Images Judging by the latest reports from Chinese companies, the world’s second-largest economy still has a challenging stretch ahead. Take earnings reports in the last few weeks from the country’s technology giants: Then on Monday, China’s National Bureau of Statistics said industrial profits fell
PayPal‘s shares was one of the best market performers Tuesday despite the tie up between Global Payments and Total System Services that’s worth $21.5 billion of stock, CNBC’s Jim Cramer said. The stock climbed 1.72% during the same session that two major indexes declined nearly 1%. “Every time you see competitors teaming up to try to take share
Parents, of course, worry about paying for college. Increasingly, their children share that concern. Over the last decade, tuition and fees jumped 44% at four-year, private colleges and by 55% at public four-year schools. As a result, student debt has reached record proportions, with $1.6 trillion in loans outstanding. Now, high school students are more
The Bronx Tavern stands in the Port Morris neighborhood of the Bronx borough of New York, one of the 8,700 low-income census tracts. The goal is to reinvigorate these areas. Bloomberg | Getty Images Advisors could soon offer clients access to opportunity zone funds, a hot new investment. However, they need to make sure they
It would be a hard sell to get “Shark Tank ” investor Kevin O’Leary to put his money into auto stocks. O’Leary, chairman of O’Shares ETFs, told CNBC’s “Squawk Box ” Tuesday he “will not touch any of these companies.” O’Leary’s comments came after Fiat Chrysler and Renault submitted a proposal to merge the companies.
Jeff Bezos, founder and CEO Amazon.com, and his wife Mackenzie Bezos. Getty Images MacKenzie Bezos joined some of the world’s wealthiest people in a pledge to give away at least half of their wealth to charitable causes. The Giving Pledge, which was started by Warren Buffett and Bill and Melinda Gates in 2010, announced Bezos’
The “Options Action” traders share three options trading strategies to kick off the week. Mike Khouw and Carter Worth broke down a put spread in Caterpillar. Dan Nathan looked at a put spread in the Homebuilders ETF. Mike Khouw and Carter Worth also looked at call buying in AT&T. Trader disclosure: Dan Nathan is long EA
OxyContin 80 mg pills. Liz O. Baylen | Getty Images Oklahoma state prosecutors blasted Johnson & Johnson and other opioid manufacturers in the first day of a landmark opioid trial Tuesday, saying they ran a “deceitful, multibillion-dollar brainwashing campaign” that led to more than 46,000 deaths in the state over a decade. In opening arguments
It was an unsavory day for Chipotle. The stock fell nearly 6% Thursday, to $667.12, after BMO Capital Markets downgraded the fast-casual chain, cutting its price target to $620 from $675 and saying higher pork prices due to global outbreaks of African swine fever could put pressure on margins. The action marked Chipotle’s worst trading day
Alicia Levine believes Wall Street is making a big mistake. The chief strategist at BNY Mellon contends it’s still not accurately pricing in the growing possibility that U.S.-China trade talks will ultimately fail. “The market got the wake-up call on May 5, and it hit the snooze button — expecting this to go away with
A man wearing an unicorn costume plays at a computer during the Intel Extreme Masters Katowice 2019 event in Katowice on March 2, 2019. BARTOSZ SIEDLIK/AFP/Getty Images In November 2015, tech investor Marc Andreessen weighed in on a hot debate about whether Silicon Valley’s start-ups were frothy from all the cash propping up so-called unicorns,
Lawmakers in the House of Representatives have passed a bill that aims to improve the nation’s retirement savings, moving it a step closer to becoming law. Called the Secure Act and backed by both Republicans and Democrats, the measure includes a variety of provisions intended to increase the ranks of savers and the amount they
The front desk of the Amazon office is pictured in New York, May 1, 2019. Carlo Allegri | Reuters Here are the biggest calls on Wall Street on Friday: Piper Jaffray said Amazon shares may be worth $3000 in two years Piper Jaffray said its call was based on “conservative growth and valuation assumptions.” “We
Chinese President Xi Jinping stands by national flags. Johannes Eisele | AFP | Getty Images As trade talks between the U.S. and China increasingly center on Chinese treatment of foreign companies, Beijing says major American complaints about structural aspects of its economy are running up against “core interests.” The implication: Those matters are not up
Charlie Kindel, senior vice president of products and services at Control4. Control4 As an executive at Amazon who built the Alexa Smart Home group, Charlie Kindel became very familiar with the company’s use of so-called future press releases. Employees who are planning new projects write fake news releases as if they were promoting the finished
Is fear getting in your way when it comes to saving and investing? If so, you aren’t alone, according to Akbar Gbajabiamila, co-host of NBC’s “American Ninja Warrior.” And there is a way to overcome it, he said. “My No. 1 strategy for overcoming fear is purpose,” said Gbajabiamila, who also once played football for
Chinese made jackets are displayed for sale at a Manhattan department store on May 07, 2019 in New York City. Spencer Platt | Getty Images News | Getty Images American retailers are working hard to leverage this Memorial Day weekend to boost sales. Heavyweights like Amazon, Target, Macy’s, and Home Depot all have big promotional
FILE PHOTO: The logo of FIAT carmaker is seen on a vehicle in Cairo, Egypt, May 19, 2019. Picture taken May 19, 2019. REUTERS/Mohamed Abd El Ghany/File Photo Mohamed Abd El Ghany | Reuters Fiat Chrysler and Renault are in advanced talks to merge the two automakers. Sources say the talks, which have been happening
The U.S. and Japan will likely reach a trade settlement in the next six to nine months that will “give each side something to claim credit for,” a former trade official told CNBC on Monday. U.S. President Donald Trump arrived in Japan on Saturday in a state visit amid looming trade issues between the two
The Internal Revenue Services offices in Washington, D.C. Adam Jeffery | CNBC Fine-tuning your tax withholding is about to get a little more complicated. The Internal Revenue Service is expected to release a draft of its new Form W-4, the form employees use to adjust the amount of income tax withheld from their pay, by
Traders and financial professionals work on the floor of the New York Stock Exchange (NYSE) ahead of the opening bell, May 8, 2019 in New York City. Drew Angerer | Getty Images One of the biggest Chinese chipmakers is delisting from the New York Stock Exchange amid the trade war, but the company said the
Michael Novogratz, CEO of Galaxy Investment Partners Adam Jeffery | CNBC Macro trader turned bitcoin bull Michael Novogratz is calling for fixes to capitalism — and a possible tax on Wall Street. The former Fortress hedge-fund manager pointed to a rising income gap and lack of investment in public education in the United States. One
The 2019 Lexus LX 570 CNBC | Mack Hogan Toyota’s Land Cruiser SUV has long held a reputation for being the world’s toughest truck. Land Cruisers dot the Australian outback, serve as emergency vehicles in the far reaches of South America and ferry United Nations Peacekeepers to conflict zones around the world. This, the Lexus
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