Hundreds of thousands of people are living without a paycheck amid the longest government shutdown in history. As a result, federal employees and contractors are digging into their retirement savings, filing for unemployment, picking up other jobs and unable to meet their rent or mortgage payments. Most people would be in the same bind if
Month: January 2019
Even as Beijing pushes out new measures to stimulate its economy, China’s growth slowdown will make it harder for the country’s companies to pay their debts this year, ratings agencies say. The Chinese government on Monday announced official GDP figures for last year that showed the world’s second-largest economy expanded at its slowest pace in
Shares of Starbucks ticked up nearly 2 percent after the company reported better-than-expected sales and earnings growth, with customers spending more on their lattes and Frappuccinos. “We are particularly pleased with the sequential improvement in quarterly comparable store transactions in the U.S., underpinned by our digital initiatives and improved execution of our in-store experience,” CEO
Facebook Chief Executive Mark Zuckerberg penned an op-ed in the Wall Street Journal, defending his company once again, and hitting out at “misreported” claims that the social network sells user data. The article, which is just over 1,000 words long, seeks to explain the reasoning behind Facebook’s targeted advertising model and clear up confusion around
What are kids doing better than their parents? Saving their money, it turns out. Last year, children between the ages of 4 and 14 received about $471 in personal spending money, or roughly $9.06 a week, according to RoosterMoney, an allowance tracking app. The company analyzed data from nearly 30,000 of its users. On average,
The market sell-off on Christmas Eve shouldn’t be ignored by regulators, a former attorney for the Securities and Exchange Commission told CNBC on Thursday. Dec. 24, 2018, was the worst Christmas Eve trading day ever for U.S. equities, with the Dow Jones Industrial Average plunging 653 points. Teresa Goody, who worked as a lawyer in
Sen. Elizabeth Warren, D-Mass., is planning to propose a “wealth tax” on some of the richest Americans, an economist who advises her told CNBC on Thursday. The new tax from Warren, who recently announced her bid to challenge President Donald Trump in 2020, would only apply to Americans with more than $50 million in assets.
Check out the companies making headlines after the bell Thursday: Shares of Intel dropped 7 percent following mixed earnings and weak first-quarter guidance. The semiconductor-maker reported $18.66 billion in revenue, compared to the $19.01 billion estimated by analysts. Earnings per share were $1.28, slightly higher than the $1.22 estimated on the Street. The company issued
American Airlines shares jumped Thursday after it posted fourth-quarter profits that beat analysts’ expectations and forecast higher 2019 profits than Wall Street estimates. The airline’s per-share earnings came in at $1.04 on an adjusted basis, slightly above the $1.01 analysts polled by Refinitiv had expected. American’s net income, excluding special items, rose 8 percent to
Microsoft’s Bing search engine was restored in China Thursday after a nearly day-long outage, a company spokesperson confirmed to CNBC. Users first reported the outage Thursday morning local time. The service was restored by 4:30 p.m. in New York on Thursday. The temporary blockage of Microsoft’s Bing comes at a time when the U.S. and
Jazz Fexton was hired as a representative at the IRS toward the end of 2018. Her health insurance was being processed when the government closed. In limbo and without coverage, she was looking at a nearly $1,000 out-of-pocket cost for her anti-depressant, Celexa. She didn’t have the money. She weened herself of the medication, first
The current macroeconomic environment makes it difficult for CNBC’s Jim Cramer to recommend even a best-of-breed stock like Emerson Electric, he said Wednesday after a solid trading session in the stock market. An old-line manufacturer involved in the industrial automation, fluid handling, climate control and oil and gas spaces, Emerson has been at the center
Hedge fund billionaire Ken Griffin closed a deal to buy the most expensive home ever sold in the U.S., paying around $238 million for a New York penthouse overlooking Central Park. The deal is the largest in Griffin’s recent $700 million, global real estate shopping spree, believed to be the largest ever for a U.S.
[The stream is slated to start at 5:00 a.m. ET. Please refresh the page if you do not see a player above at that time.] Bank of England Governor Mark Carney, IMF Managing Director Christine Lagarde, and German Deputy Finance Minister Joerg Kukies are joined by top business leaders to discuss the ways in which
Ford‘s reorganization plans showed up in its fourth-quarter earnings Wednesday as pension and layoff costs eroded the company’s profit and caused it to miss earnings estimates — despite posting stronger-than-expected sales. The Detroit automaker has been struggling overseas, and that was apparent in the fourth quarter. While Ford grew its revenue in North America by
While unsteady at first, JetBlue has posted a profit since 2009, according to FactSet data. JetBlue and most of its rivals have struggled over the past year, however, as investors dumped airline stocks as fuel costs ate into carriers’ bottom lines. JetBlue’s shares are off more than 23 percent over the 12 months through Jan.
Whether you’re planning on gutting your bathroom or putting in new landscaping, odds are you’ll be digging into your own pockets to pay for it. A recent survey by TD Bank found that more than 90 percent of the consumers it polled are planning to tap their own savings to cover their home renovation projects.
General Electric has spun off several businesses to generate cash and shrink its footprint but one Wall Street analyst thinks its divestitures may have gone too far. “We caution that once GE sells off its strong cash generating businesses such as Healthcare and Rail, these assets will be gone forever,” Gordon Haskett’s John Inch said
Employees, including those who had been recalled from furlough at the IRS, are missing work amid the partial federal shutdown, even as tax season is about to begin. Hundreds of workers at the tax agency received permission from their managers to miss work, claiming that they are facing hardship, The Washington Post reported. News of
Billionaire value investor Mario Gabelli said on Wednesday’s CNBC “Halftime Report” that MGM Resorts International stock is “very attractive” and investors should “put a bet on it.” The longtime investor is bullish on MGM because he expects its growing online gambling business to offset the slowing growth in Macau. Shares of MGM erased earlier loss
Industrial conglomerate United Technologies reported a better-than-expected fourth-quarter profit on Wednesday and forecast 2019 earnings above estimates, boosted by acquisition of aero parts maker Rockwell Collins. Shares of United Technologies, which makes Pratt & Whitney aircraft engines, Carrier air conditioners and Otis elevators, were up 4.6 percent at $116.25 in early trading. The company, which
The short-term outlook of many in the options market has veteran trader Pete Najarian holding the fewest number of trades in his career, he told CNBC on Wednesday. “I have the smallest amount of equity in the options world that I’ve ever had since I’ve been trading,” Najarian, co-founder of options trading hub Investitute, said
Despite the dangers of high-interest loans, more consumers are testing the limits of plastic. To that point, more than 1 in 3 people —or 86 million Americans — said they’re afraid they’ll max out their credit card when making a large purchase, according to a new WalletHub credit cards survey. (Most of those polled considered
Nvidia Corp.: “I think Nvidia’s trying to bottom here. Remember, 40 percent of it is gaming-related, but wow, that stock’s almost been cut in half. I am willing to say [that] if you want to start a small position in Nvidia, I bless it.” Ligand Pharmaceuticals Inc.: “You’re a bit of a risk-taker there, my
Things don’t look great for the journalism business. Tech has changed the news business as many wonder what lies ahead for the industry. The internet upended the old advertising and distribution models. Meanwhile, the whole idea of a strong press as a check on the powerful? That’s up in the air, too. Pulitzer Prize winning
Viacom has agreed to acquire streaming service Pluto TV for $340 million in cash, the latest piece of its strategy to build a streaming business as consumers cut the cord. Pluto TV is a free, ad-supported service that has given over-the-top viewers a video option that doesn’t require a cable subscription or monthly payments to
Dell Technologies’ return to the public market comes at a good time for the company and for prospective shareholders, CNBC’s Jim Cramer said Tuesday as the rest of the stock market fell on macroeconomic worries. “The new Dell Technologies has a lot going for it,” Cramer said, highlighting its move beyond the personal computer. “Now,
Amid the longest federal shutdown in history, hundreds of thousands of federal workers are furloughed or working without pay. But few can get by without income, considering that over three-quarters of all full-time workers are living paycheck to paycheck, according to a report from CareerBuilder. From personal loans to credit card advances, there are many
Whether it was an unexpected expense or an impulse purchase, chances are you’ve slacked off on your resolution to save more and spend less. That’s OK. Most people typically give up on their financial resolutions six weeks into the new year, according to a survey from LearnVest. This year is no exception, even though more
Investors should buy shares of beer giant AB InBev — the largest beer company in the world — as a recent refinancing will lighten the burden from the company’s massive debt load, an analyst at RBC Capital Markets said Tuesday. Analyst James Edwardes Jones named AB InBev a top pick, upgrading it from outperform. Jones
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