A compromised passport number could be your ticket to identity theft woes. Marriott International announced Friday that hackers had accessed the reservation database for its Starwood Hotels brand, compromising data for 500 million guests. For 327 million of those affected consumers, the hotelier said, the information compromised “includes some combination of” data points including name,
Month: November 2018
Financial advisors who beat the save-early-and-often drum might want to stifle their agonized groans. To that point, 59 percent of investors ages 18 to 34 say they already have taken money from their retirement account, according to recent research by E-Trade Financial. That figure has been growing steadily since 2015, when it was 31 percent.
Amazon feels the heat in niche markets. Jon Fortt speaks with Chegg CEO Dan Rosensweig on disrupting e-commerce and taking on Amazon in education. Plus — former Amazon Insider Nadia Shouraboura and Revzilla Founder Anthony Bucci on what it takes to challenge the e-commerce king. Fortt Knox is a weekly podcast from CNBC anchor Jon
Wall Street is loading up on boring stocks as year-end approaches, a trend that could signal investors are worried the recent market volatility could continue. Net inflows into exchange-traded funds that track high-dividend, low volatility stocks are above $500 million on an eight-week rolling basis — the first time since 2016 — according to data
Microsoft is poised to end trading Friday as the most valuable publicly traded U.S. company, surpassing Apple. Microsoft passed Apple in market cap again during intraday trading Friday, though Apple could retake the lead before market close. As of 3:30 p.m. in New York, both stocks were trading at about a $849 billion market valuation,
If you’ve recently graduated and skated through half a year without too much thought about your student loan debt, it’s time to pay the piper. For federal loans, which make up the bulk of student debt, there is generally a six-month grace period after graduation that gives borrowers time to get on their feet before
Privately-held financial company SoFi isn’t one of the non-bank lenders Federal Reserve Chairman Jerome Powell called out as potential risks to the U.S. economy in his Wednesday speech, SoFi chief Anthony Noto told CNBC on Thursday. “We have really strong risk controls,” the CEO told Jim Cramer in an exclusive interview on “Mad Money.” “We
Now that the Federal Reserve has become slightly less hawkish on its interest rate plans, there’s one final issue that could hinder U.S. economic growth in 2019, CNBC’s Jim Cramer said: China. “Remember, if we’re going to avert a slowdown next year, we need the president to make some kind of deal with the Chinese,
Tiffany’s stock dropped as much as 12 percent in premarket trading on Wednesday after releasing disappointing third-quarter sales that were hurt by weaker spending from Chinese tourists in the U.S. and Hong Kong. The luxury jewelry retailer’s earnings were in-line with estimates, but revenue of $1.01 billion was shy of the $1.05 billion estimate from
European stocks are expected to open Friday on a relatively subdued note, as key leaders congregate for a major event in Argentina. The FTSE 100 is seen 19 points lower at 7,036, the CAC 40 is set to open on a relatively flat note, up 9 points at 5,022, while the DAX is poised to
The War of the Roses could continue indefinitely. And one key deadline could force couples to come to an agreement before the end of the year. Dec. 31, 2018 is the date by which couples need to get the terms of their divorce settled before the tax rules on alimony change, a result of the
While I can’t give you any investment advice or help you ignore the current market conditions, I can teach you how to manage stress so that “volatile” describes the market and not your mindset. Emotions can help influence decision-making, but when it comes to considering investment decisions in a volatile market, getting stressed out may
November’s sell-offs have pushed the popular FAANG stocks well below their average Wall Street price targets. Facebook, Apple, Amazon and Google parent company Alphabet are now at least 20 percent below analysts’ expectations, while Netflix is as much as 35 percent below its average target. Matt Maley, equity strategist at Miller Tabak, said FAANG’s recent
The Federal Reserve is continuing to examine its program to reduce its balance sheet and likely will have to make another tweak at the December meeting to keep it running smoothly. In a process begun in October 2017, the bank is decreasing the size of its bond portfolio, which grew to more than $4.5 trillion
Cloud storage provider Box reported a smaller-than-expected quarterly loss as it added more customers, and forecast full-year revenue estimates above analysts’ estimates. The company’s shares, which have fallen about 14 percent this year, rose 5 percent in extended trading. Box ended its third quarter with more than 90,000 paying customers, up from 87,000 in the
Volvo is scaling back plans for its new assembly plant just outside Charleston, South Carolina as a result of the trade war triggered by President Donald Trump. The $1.1 billion factory opened earlier this year and was expected to earmark about half of its capacity for export markets, including China, where Volvo’s parent, Zhejiang Geely,
In a perfect world, saving for retirement would be easy. That world assumes everyone makes an adequate salary, can afford all their necessities and a few frills, and feel comfortable setting aside some money for the future. Yet the reality is that retirement saving is not easy for everyone. Lower income and debt, whether from
Even though anti-competitive mergers tend to be bad for customers, they tend to stack the odds in Wall Street’s favor, CNBC’s Jim Cramer said Wednesday. “I love the stocks of companies that have somehow found a way to legally give themselves a seemingly unfair advantage. That’s the best kind of advantage,” the “Mad Money” host
Doing good is its own reward. Reaping the tax benefits is a nice perk. Charitable donations generally kick into high gear on “Giving Tuesday,” a single day specifically focused on charity in the shopping-heavy week after Thanksgiving. #GivingTuesday raised $300 million last year, according to GivingTuesday.org – although it remains to be seen whether this
British mobile bank Revolut has obtained licenses to operate in Japan and Singapore as it readies an expansion into Asia. The London-based financial technology firm said Thursday that it had acquired a remittance license from the Monetary Authority of Singapore and full authorization from Japan’s Financial Services Agency. Revolut offers users a prepaid debit card
Ride-hailing service Uber has made its exit from Southeast Asia — and now the battle between two of region’s most valuable start-ups is beginning. Go-Jek, Indonesia’s first “unicorn” — tech-speak for a startup that’s believed to be valued at $1 billion or more — is taking the competition to rival Grab’s home turf in Singapore.
Can you imagine refusing a portion of your paycheck and giving the money back to your employer instead? That’s essentially what you’re doing if you fail to use your benefits to their full extent. “It’s often the little things that add up,” said Kelley Long, CPA and member of the American Institute of CPAs’ Consumer
Brutal sell-offs have taken down some of Wall Street’s most highly prized stocks. The FAANG stocks — Facebook, Apple, Amazon, Netflix and Google parent Alphabet – which had driven the markets to records earlier this year have plummeted in the past three months with four-fifths in bear market territory. Michael Batnick, director of research at
Global wage growth fell to its lowest in almost a decade last year, with the U.K. seeing weaker wage growth than any other advanced G-20 nation. Published Monday, the International Labour Organization (ILO)’s Global Wage Report found that international wage growth saw a 0.6 percent decline in 2017, based on data from 136 countries. Since
Sears Chairman Eddie Lampert is partnering with Cyrus Capital Partners in its bid for Sears Holdings, Bloomberg reported on Wednesday. Lampert has said in court filings his hedge fund, ESL Investments, is planning to buy roughly 500 of Sears’ stores, helping it to emerge from bankruptcy. It has been unclear how ESL would finance such
Salesforce.com is in peak performance mode as companies shift their operations to become more digital and cloud-reliant, the software giant’s Chairman, co-founder and co-CEO Marc Benioff told CNBC on Tuesday. “I don’t think the company’s ever been stronger or been in a better position, and the reason why is every company that we’re dealing with
Many on Wall Street are busy publishing 2019 market estimates but Morgan Stanley’s added an outlook on the space industry. “We expect industry / technological milestones and capital formation will up the ante starting in 2019,” Morgan Stanley’s Adam Jonas wrote in a note to investors on Wednesday. Jonas, along with other Morgan Stanley analysts,
If you were planning on nabbing a deduction for your mortgage insurance or your college expenses, prepare to sit tight. That’s because these and other breaks that are known as the “tax extenders” are bundled into newly proposed legislation that’s likely going nowhere fast, according to policy experts. The House Ways and Means Committee proposed
After years of breaking down market moves for investors — often times at the risk of being wrong — CNBC’s Jim Cramer is taking a stand against market commentators who play it safe, but never really help the average stock-picker. “If I came out here every day and said it was the seventh inning of
Insight from retail experts and insiders ahead of the 2018 holiday shopping season including Former Saks CEO Steve Sadove; O: The Oprah Magazine Creative Director Adam Glassman; and CNBC’s Lauren Hirsch. Fortt Knox is a weekly podcast from CNBC anchor Jon Fortt . Previous episodes of the program can be found here.
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