Hero Images | Hero Images | Getty Images Even if your employer offers you health insurance at work, chances are you’re shelling out more money for medical care. Last year, employers spent an average of $15,159 in premiums to cover a family of four, according to an analysis from the Kaiser Family Foundation. In all,
Month: August 2019
POJCHEEWIN YAPRASERT PHOTOGRAPHY | Moment | Getty Images Let’s face it, when it comes to storing important financial documents, a shoe box under your bed doesn’t really cut it. Estate-planning documents — such as wills, trusts, living wills, medical directives and powers of attorney —are very important to you. So where do you keep them
Former SEC Chairman Harvey Pitt on Monday questioned the motivation of Harry Markopolos, the Bernie Madoff whistleblower who unveiled a long list of allegations against General Electric last week in an investigation for a short seller. “One of the ways you can test Markopolos’ bonafides, however, is the fact that the SEC has a whistleblower
Michael Moritz Scott Mlyn | CNBC Michael Moritz, the Sequoia Capital venture capitalist who made fortunes from early bets on Google and Yahoo, says investment bankers in tech IPOs are like ticket scalpers, and more companies are realizing that they no longer need them. The direct listings pulled off by Spotify last year and Slack
Young shoppers browse makeup products at an Estee Lauder MAC Cosmetics store. Kiyoshi Ota | Bloomberg | Getty Images Estee Lauder forecast full-year revenue and profit above Wall Street expectations after beating estimates for quarterly earnings on Monday, bolstered by booming demand for its premium skincare products such as La Mer and strength in its
Satya Nadella, CEO of Microsoft Justin Solomon | CNBC Microsoft has hired Bill Stasior, the person who until recently was in charge of the Siri virtual assistant at Apple. The move underlines Microsoft’s focus under CEO Satya Nadella on emerging technologies like artificial intelligence. In 2016 Microsoft established the Artificial Intelligence and Research engineering group
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. The South Korean auto maker Hyundai announced recently that it will give $900 to people with student
The General Electric Co. logo is seen on the company’s corporate headquarters building in Boston, Massachusetts, U.S. July 23, 2019 Alwyn Scott | Reuters Enron whistleblower Harry Markopolos released a report on General Electric on Thursday alleging the company is hiding financial problems. Before the report was made public, GE said, in a statement, “we
At age 22, with no formal fashion education Claudia Lambeth took a giant leap and started a one-of-a-kind luxury lingerie line while she was in law school. With just a little seed money she inherited from her grandfather, Lambeth was able to purchase fabrics and other materials she needed to build her first bra and
New charts from Bank of America-Merrill Lynch’s Stephen Suttmeier suggest two things must happen before the stock market bottoms: The S&P 500 needs to fall another 5% and panic needs to get more extreme. His first chart shows the S&P 500‘s decline, and the key levels to watch. “The correction is going to continue,” the
A Porsche that was expected to sell for over $20 million flopped on the auction block Saturday night, after the sale was thrown into disarray by a technical error. The car, a 1939 Porsche “Type 64” that was already facing controversy in the collecting world, hit the auction block Saturday night at RM Sotheby’s in
Glenn Daily, a fee-only insurance consultant, owns a whole life insurance policy. Glenn Daily Roth IRAs and Roth 401(k) plans aren’t your only sources of tax-free income in retirement. Say hello to so-called permanent life insurance — a policy with an interest-bearing account that’s known as cash value. This cash value accumulates without being subject
Ray Dalio, founder of investment firm Bridgewater Associates, speaking at the WEF in Davos, Switzerland on Jan. 22, 2019. Adam Galica | CNBC Hedge fund titan Ray Dalio said he wouldn’t rule out China using its Treasury holdings to gain an upper hand against the U.S. in the trade war — a view that contrasts
Ted Jenkin (left), CEO of oXYGen Financial, with children Lyla, Louden and Olivia and wife Genna Jenkin. Ted Jenkin It’s official: Apparently, you can go home again. A recent TD Ameritrade survey found that 50% of “young millennials” plan to move back home with their parents after college. The survey polled 1,027 members of Generation
Larry Kudlow, director of the U.S. National Economic Council, speaks during a Bloomberg Television interview outside the White House in Washington, D.C., U.S., on Friday, Aug. 2, 2019. Andrew Harrer | Bloomberg | Getty Images White House economic advisor Larry Kudlow pushed back Sunday against concerns that the economy was weakening, after the bond market
Apple CEO Tim Cook Spencer Platt | Getty Images The two recent incidents involving Apple products show a growing risk to the company’s brand: the lithium-ion batteries that power its devices. First, the Federal Aviation Administration disclosed last week that some Apple laptops have been banned from flights. This comes after Apple recalled some 15-inch
Back to school is an increasingly costly time of year, particularly for families with college-bound children. A college education is now the second-largest expense an individual is likely to make in a lifetime — right after purchasing a home. Tuition and fees for a four-year private college averaged $35,830 in 2018-19; at four-year, in-state public
A visitor at Intel’s Artificial Intelligence (AI) Day walks past a signboard during the event in Bangalore, India Manjunath Kiran | Getty Here are the biggest calls on Wall Street on Friday: Bank of America downgraded Dow Inc. to ‘underperform’ from ‘neutral’ Bank of America said it downgraded the chemical company due to global demand
Actor Sean Connery, as James Bond, on the set of Eon Productions’ “Goldfinger” with a 1964 Aston Martin DB5 Bettmann | Getty Images One of the most famous movie cars of all time – James Bond’s Aston Martin DB5 – sold at auction Thursday night for $6.4 million. The car, one of just three surviving
Esther George, John Williams and Jerome Powell, at Jackson Hole, Wyoming, August 24, 2018. David A. Grogan | CNBC If the markets get their way, Fed Chairman Jerome Powell will use the Fed’s Jackson Hole symposium to clarify whether the Fed is at the beginning of a serious rate cutting cycle — or just intending
Cisco CEO Chuck Robbins being interviewed in Davos, Switzerland, January 21, 2016. David A. Grogan | CNBC Cisco shares fell by as much as 7% after hours on Wednesday after the company reported weaker-than-expected guidance. It had already dropped 4% during the day on a disastrous day for stocks. Here’s what the company reported: Earnings:
Kurbo app Scott Mlyn | CNBC Do your homework! Clean your room! Count your Weight Watchers points? Weight Watchers, which now calls itself WW, this week introduced a new app called Kurbo by WW to “help kids and teens ages 8-17 reach a healthier weight.” WW last year acquired Kurbo, a digital health start-up whose
When Rep. John Larson, D-Conn., travels the country to talk about his plan for Social Security reform, he often holds up a Starbucks coffee cup. The cost of that latte — about $4.50 — could also cover nine weeks of Social Security payments if you’re making $50,000 per year, Larson said he points out to
General Electric bounced back Friday after the CEO shored up confidence by purchasing a bulk of company shares, and analysts defended the industrial giant. GE’s stock was up more than 6% on Friday morning following its biggest drop since April 2008 a day earlier. GE shares had tanked 11% on Thursday. The stock began its
Attendees and judges gather around a 1966 Ferrari 330 P4 Drogo Spyder motor vehicle during the 2016 Pebble Beach Concours d’Elegance in Pebble Beach, California, U.S., on Sunday, Aug. 21, 2016. David Paul Morris | Bloomberg | Getty Images Routinely described as the world’s most popular, elegant and exclusive classic car show, the annual Pebble
Fraud finder Harry Markopolos took GE stock down more than 11% in one day with a dizzying array of charts and numbers, but also some choice words accusing analysts, ratings agencies and GE’s management of Enron-era behaviors. A day later, GE stock rebounded nearly 10% on Friday after GE CEO Larry Culp invested $2 million on the
A customer pushes a full cart at a Walmart store in Burbank, California. Patrick T. Fallon | Bloomberg | Getty Images Walmart is set to report second-quarter earnings before the bell on Thursday. Here’s what analysts are expecting, based on Refinitiv data: Earnings per share, adjusted: $1.22 Revenue: $130.11 billion Same-store sales: up 2.1% Additional
Smoke billows from a fire outside Ljusdal, Sweden in July, 2018. Sweden is fighting its most serious wildfires in decades, including blazes above the Arctic Circle, prompting the government to seek help from the military, hundreds of volunteers and other European nations. Maja Suslin | TT | AP Smoke from massive fires in the Arctic
The average American has $38,000 in debt — a quarter of which comes directly from credit card charges. In December 2018, consumer debt overall hit a record high $4 trillion. Experts say a significant amount of this debt can be explained by what they call “money disorders.” Brad Klontz, author of “Mind Over Money” and
The allegations by Madoff whistleblower Harry Markopolos of a $38 billion fraud at General Electric are “at best disingenuous” and “at worst highly inaccurate,” according to Nick Heymann, co-group head of global industrial infrastructure at the William Blair financial services firm. “You got the stock on sale yesterday for absolutely no basis. This is why
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