When it comes to retirement savings, theory often differs from reality. On average, Americans believe they need $1.7 million to retire, according to a recent survey from Charles Schwab, which looked at 1,000 participants in 401(k) plans nationwide. In fact, “that’s a pretty good number if you average out age and median salary across the
Month: August 2019
President Donald Trump meets with China’s President Xi Jinping at the start of their bilateral meeting at the G20 leaders summit in Osaka, Japan, June 29, 2019. Kevin Lemarque | Reuters The U.S.-China trade war is going to have a larger impact on growth than Goldman Sachs originally estimated. The firm lowered its fourth-quarter growth
Chinese President Xi Jinping stands by national flags. Johannes Eisele | AFP | Getty Images The International Monetary Fund is urging the world’s two largest economies to resolve the escalating trade war quickly and fairly. In a new report published Friday by the executive board at the IMF, directors recommended a “comprehensive” agreement on trade
People pass by a video sign display with the logo for Roku, a Fox-backed video streaming firm, that held it’s IPO at the Nasdaq Marketsite in New York, September 28, 2017. Brendan McDermid | Reuters Streaming platform Roku attributed an acceleration in its total revenue growth primarily to growth in advertising as the platform’s monetized
No bones about it. People love their pets and want to take them along when it comes time to travel. That’s why so many hotels now offer pet-friendly guestrooms and are joining breweries, restaurants and other attractions to offer special packages and pup-themed parties open to all to celebrate National Dog Day on Aug. 26.
Six years ago Becky Beach, now 37, was dating a well-dressed business analyst with a fancy car. He proposed with a diamond ring. The relationship soured when he confessed, while house shopping, that his credit was in the gutter. His lavish spending had caused him to rack up $150,000 in credit card debt. “I ended
Satya Nadella, CEO of Microsoft. Sean Gallup | Getty Images Enterprise software is emerging as an exception to some investors’ caution around the technology sector. Wall Street analysts and investors including Carl Icahn are turning to software companies, which don’t rely as much on supply chains and manufacturing, as the trade war and strong dollar
Long-time market bull Edward Yardeni is downplaying recession jitters. The Yardeni Research president suggests investors who fear an economic downturn will miss out on a fresh run to record highs. “The outlook for the economy remains positive,” he told CNBC’s “Trading Nation ” on Friday. “That should keep the stock market moving higher.” Yardeni, who
Online real estate company Zillow said on Wednesday it lost more money in the second quarter than it lost last year as it spent heavily to boost its home segments business, sending shares down 17% in extended trading. Zillow spent $240.7 million at its home segment business in the quarter to earn revenue of $248.9
A scene from Universal’s “The Hunt” Universal Pictures Universal Pictures has canceled the release of “The Hunt” after shooting massacres in Ohio and Texas last weekend killed 31 people and wounded dozens of others. The film, which Universal has called a “satirical social thriller,” is about a group of globalist elites who pay large amounts
A string of pending proposals on Capitol Hill could change the way current and future retirees live. But that’s assuming they can first get through both Houses of Congress. The U.S. Capitol Building in Washington, D.C. Adam Jeffery | CNBC And time is ticking as August recess has already begun. After that, there’s just four
A trader reacts on the floor at the New York Stock Exchange (NYSE) in New York, U.S., August 5, 2019. Brendan McDermid | Reuters The clock is ticking for the relief rally to turn sour, according to Nomura macro and quant strategist Masanari Takada. And by his count, the market has only three good trading
Traders work on the floor at the New York Stock Exchange. Brendan McDermid | Reuters Do stock analysts truly have insights for investors about earnings or are they just riding the market? That’s the question Morgan Stanley heard from investors after it detailed a new artificial intelligence strategy in June that studied its own analyst
Lionel Bonaventure | AFP | Getty Images Media company Fox Corp reported quarterly results that beat Wall Street estimates on Wednesday, boosted by higher fees collected from cable and satellite operators and online distributors. The company said its adjusted profit for the quarter was 62 cents per share, beating analysts’ estimates by 3 cents a
A still from the movie “Akira.” Source: Akira Hollywood loves live-action remakes. Maybe a little too much. Disney has been making headlines with its recent live-action remakes of “Lion King ” and “Aladdin, ” and its upcoming “Cats. ” Warner Bros and Paramount Pictures recently released live-action video game remakes with “Detective Pikachu ” and
Damircudic | Getty Images Headed to college? It’s time to open a student bank account. “Having a bank account is one of the most important first financial literacy steps a person takes,” said Matt Rosenberg, a CPA and member of the American Institute of CPAs’ Financial Literacy Commission. Whether your scholar is moving away for
Dara Khosrowshahi, chief executive officer of Uber Technologies Inc., speaks during an interview in Tokyo, Japan, on Wednesday, July 3, 2019. Akio | Bloomberg | Getty Images Uber CEO Dara Khosrowshahi said SoftBank‘s head “doesn’t throw good money after bad” and that the company and its financial backer’s interests are aligned as the Japanese conglomerate
Peter Navarro, director of the National Trade Council. Andrew Harrer | Bloomberg | Getty Images White House trade advisor Peter Navarro said Beijing plans to devalue its currency — and if it does, the U.S. will respond forcefully. “They’re going to and we’re going to take strong action against them,” Navarro told CNBC’s “Closing Bell”
Uber shares dropped as much as 12% in extended trading Thursday after the company delivered disappointing second-quarter results. Shares remained down roughly 8% in premarket trading Friday. It was a miss on both top and bottom lines for Uber. Net losses for the ride-hailing company soared to $5.24 billion, largely owing to stock based compensation.
Farfetch shares sank 45% Friday, after the luxury e-commerce company said it planned to acquire New Guards Groups, owner of popular streetwear brand Off-White, for $675 million. One analyst attributed the stock’s plunge to its shift in strategy, saying many investors had initially bought into the company’s “asset-light” approach. “The original idea of buying into
Image Source | Getty Images Retirement has been on your mind. You’ve been thinking about the right time to finally leave your job, and what the next chapter of your life will be like. Then the trade war between the world’s two largest economies heated up. Your savings went down. And people started talking about
A Verizon store in New York City. Getty Images High-dividend stocks are starting to stand out as winners as bond yields continue to collapse. Since late July, the S&P Dividend ETF, which bundles high-dividend stocks, has started to outperform the S&P 500 ETF Trust, which mimics the performance of the entire S&P. Since last week,
Wheels Up is a new airline travel company co-founded by Bill Allard who stands in front of a new Beechcraft 350i King Air turbojet plane with only 30 hours on it. John Tlumacki | The Boston Globe | Getty Images Wheels Up, the private aviation start-up that counts Tom Brady and Serena Williams as members,
Traders work the floor of the Dow Jones at the closing bell of the New York Stock Exchange. Bryan R. Smith | AFP | Getty Images Check out the companies making headlines midday on Friday: Uber Technologies — Shares of the transportation and food ordering service company fell 7.8% after reporting a huge loss during
Dara Khosrowshahi, chief executive officer of Uber Technologies Inc., speaks on a webcast during the company’s initial public offering (IPO) on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Friday, May 10, 2019. Michael Nagle | Bloomberg | Getty Images Uber’s $5.2 billion second-quarter loss is big on its
Travellers watch the announcement boards in Euston rail station during the busy morning rush hour on August 09, 2019 in London, England. The train network was hit by major delays yesterday after all services out of London Euston were suspended due to a signal failure. Leon Neal | Getty Images Power cuts are affecting a
Once you’re in your 50s and the end of full-time work is no longer a distant concept, it’s a good time to get serious about planning for the next chapter of life. Whether you intend to entirely leave the work force at some point or keep a foot in it, financial advisors say there are
Investor Steve Eisman is predicting bad things ahead for anyone betting on online real estate site Zillow, which has been trying to expand its operations but faces a stiff challenge. The managing director and senior portfolio manager at Neuberger Berman has been shorting Zillow for some time, and explained to CNBC in an interview Thursday that the
Apple, the tech giant best known for the iPhone, launched a credit card this week. It’s called the Apple Card, and it’s linked to your iPhone’s Wallet app and Apple Pay. Apple’s pitch with the card? It starts with cash and goes deep with security and design. This week, Jon Fortt takes a closer look
A man checks his smartphone while standing among illuminated screens bearing the Uber logo. Chris Ratcliffe | Bloomberg | Getty Images Check out the companies making headlines after the bell: Shares of Uber plummeted 12% before settling 4% below its closing price in after-hours trading following the transportation and food ordering service company’s disappointing second-quarter
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