Simon Dawson | Bloomberg | Getty Images Saudi oil production will be fully back online by the end of September, the kingdom’s Energy Minister Prince Abdulaziz bin Salman told media during a press conference in Jeddah on Tuesday, sending oil prices down by nearly 6% just a day after their biggest jump in history. The
Month: September 2019
Bill Gates Chesnot/Getty Images Bill Gates is not taking a defensive approach with his billions of dollars of wealth. The founder of Microsoft added $16 billion to his net worth this year, despite giving away over $35 billion to charity, according to Bloomberg. That brings Gates’ total wealth to $106 billion, the second largest fortune
Large banking institutions face the risk of failure if interest rates in Europe continue to stay negative, an economist told CNBC after the European Central Bank cut rates last week. “I think there are big questions to banking sector profitability,” global chief economist of the Economist Intelligence Unit, Simon Baptist, said Friday. The ECB on
Fans of hit TV series Downton Abbey now have the opportunity to live like a “Lord or Lady” for a night at the prestigious stately home. To mark the release of the “Downton Abbey” movie, the owners of Highclere Castle — the set of the BBC’s iconic period drama — have listed their home on
Personal finance website WalletHub has ranked 182 U.S. cities for their “fun” factor, weighing entertainment, recreation and nightlife options against local costs. Fun is no joke when it comes to household budgets. According to the Bureau of Labor Statistics, the average American spent $3,226 on entertainment in 2018, a 0.07% rise over 2017. From 2016
An employee wears an orange Home Depot Inc. apron at a store in New York. Mark Kauzlarich | Bloomberg | Getty Images Home Depot‘s massive investment plan is preventing margin expansion, according to Guggenheim. The firm downgraded the home improvement retailer’s stock to neutral and removed its $230 price target. “We find it difficult to
Tension between real estate start-up WeWork and its largest shareholder, SoftBank, was not a central issue in the decision to delay an initial public offering, sources told CNBC’s David Faber. Sources told CNBC Monday that the on-again, off-again IPO was delayed this week, adding another layer to the company’s chaotic path to an IPO. WeWork
Source: VENN Gaming is getting its own network. The Video Game Entertainment and New Network, or VENN, has raised $17 million in seed round funding to launch a network that will focus on gaming and esports entertainment. VENN will launch in 2020 with two live studios, one in New York and one in Los Angeles.
You know you need to put money away for retirement. But how much do you really need to save? It’s a question that confounds many individuals. And not knowing can contribute to one big fear: that they will run out of money in their later years. ATABOY | Getty Images A new tool aims to
A woman fuels her SUV at an Exxon Mobile gas station in Chicago. Getty Images Oil prices are surging and if history is any guide, a handful of stocks are going to outperform the market over the next week. Drone Saudi Arabian oil facilities over the weekend forced the kingdom to cut its oil output
Michael Wirth, CEO of Chevron. Adam Jeffery | CNBC The attack against Saudi Arabia’s oil facilities is a wake-up call to dangers in the oil market, according to Chevron CEO Michael Wirth. “Perhaps the market had grown a little bit comfortable with risks that we never became comfortable with,” Wirth told CNBC’s “Closing Bell” Monday. “These
CNBC’s Jim Cramer breaks down the stock market’s reaction to the drone attack on Saudi Arabia’s oil infrastructure. The “Mad Money” host reveals how investors can properly value cloud stocks and spot the ones to add and remove from their portfolios. He interviews the chief of Paxos, which launched a cryptocurrency for investing in gold.
Hero Images | Getty Images Got some side income? Run a business? You’re facing a tax deadline today. Individuals who pay the Internal Revenue Service every quarter must make their third payment for 2019 by Sept. 16. The other deadlines for this year are April 15, June 17 and Jan. 15, 2020. Taxpayers hoping to
U.S. Soldiers talk after a routine inspection of a Patriot missile battery at a Turkish military base in Gaziantep, Turkey. Department of Defense photo Shares of defense companies rose on Monday after the United States military was put on alert by President Donald Trump following drone attacks on oil production in Saudi Arabia. Trump said
Secretary of Energy Rick Perry testifies during a House Energy and Commerce Committee hearing on Capitol Hill, October 12, 2017 in Washington, DC. Getty Images This is a breaking news story. Please check back for updates. U.S. Secretary of Energy Rick Perry said it is time to form a coalition of countries to address Iran’s
Demonstrators hold signs reading “UAW On Strike” during a United Auto Workers (UAW) strike outside the General Motors Co. Hamtramck assembly plant in Detroit, Michigan, U.S., on Monday Sept. 16, 2019. Anthony Lanzilote | Bloomberg | Getty Images DETROIT – The music and chants from outside a General Motors assembly plant at midnight Monday could
Not every relationship lasts forever. And the one with your financial advisor doesn’t need to, either. If the market’s wild ride and your recent returns have made you rethink the advice you’ve been getting, it could be time to consider a switch. However, knowing when or how to break up with your advisor is difficult.
Chesnot | Getty Images Netflix is missing out on the broader market’s rally, but don’t give up on the stock, says Piper Jaffray. The firm reiterated its overweight rating on the stock and its $440 price target. “Despite an onslaught of new streaming services currently casting a cloud of concern over NFLX shares, we expect
Traders and financial professionals work ahead of the closing bell on the floor of the New York Stock Exchange. Drew Angerer | Getty Images U.S. stock futures dropped on Sunday night amid fears that a surge in oil prices following an attack in Saudi Arabia could slow down global economic growth. Dow Jones Industrial Average
United Auto Workers President Gary Jones and General Motors CEO and Chairman Mary Barra shake hands during an event on Sept. 3 to officially open contract negotiations in Detroit. Source: General Motors DETROIT — President Donald Trump on Sunday urged the United Auto Workers union and General Motors to return to negotiations and “make a
RgStudio | E+ | Getty Images You can get 50,000 bonus miles or a $100 statement credit. How about free checked bags or rental insurance? Sound good? Well, have we got a card for you. So goes the irresistible sales pitch of sexy rewards and perks that many credit card issuers make to an American
J.P. Morgan has placed two precious metals traders on leave — including the global head of base and precious metals trading — as the Justice Department’s criminal investigation into the firm’s trading practices continues. Michael Nowak, a managing director at J.P. Morgan who also heads the firm’s precious metals trading unit, was put on leave
Bank of America Merrill Lynch is changing the way it looks at small caps. The firm’s senior U.S. equity strategist Jill Carey Hall is turning bullish on the troubled group. But her new call comes with a catch: Investors need a ten year time horizon to see solid profits. “If you look at the valuation
DETROIT – The United Auto Workers union plans to strike against General Motors following the two sides not reaching a tentative deal before a Saturday night deadline. The strike, depending on its length, could easily cost GM hundreds of millions of dollars. The last time the union declared a strike at GM was in 2007.
David Young-Wolff | Getty Images Generally speaking, the higher your credit score, the better off you are when seeking a loan. But the recovery time from a missed payment or financial setback of any kind differs for everyone. As many consumers know, your credit score plays a big role in daily life. It can determine
Government bond yields recently held above an important level, but the next test may prove dangerous for the stock market. The benchmark 10-year Treasury note yield tested 1.5% in late August and early September, bouncing off that level and most recently trading around 1.8%. That’s the third time the barrier has been broken since the
A trader wipes his eyes as he watches stock prices at the New York Stock Exchange in New York. Don Emmert | AFP | Getty Images Oil prices could jump as much as $10 per barrel after a number of drone strikes hit the center of Saudi Arabia’s oil industry, reportedly forcing the kingdom to
Ethan Brown, founder and chief executive officer of Beyond Meat, center, celebrates with his wife Tracy Brown, center left, and guests during the company’s initial public offering (IPO) at the Nasdaq MarketSite in New York, on Thursday, May 2, 2019. Michael Nagle | Bloomberg | Getty Images Based on the terrible public market performance of
When John Sullivan’s aging mother needed to move, it was a challenging experience. Sullivan’s mother had macular degeneration and couldn’t drive anymore. Consequently, he and his brother looked for senior living communities. But they had many questions, many of which they didn’t know the answer to. Adding to those difficulties, they were trying to sell
Traders work at the Bolsa de Mercadorias e Futuros, Brazilian Mercantile and Futures Exchange (BM&F), in Sao Paulo, Brazil. Marcos Issas | Bloomberg | Getty Images Investing in Latin America’s equity markets can be scary, but Luiz Maria Ribiero has cracked a winning formula. Ribiero manages the DWS Latin America Equity fund (SLARX), which has
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