Larry Fink, chief executive officer of BlackRock Inc., speaks during a Bloomberg Television interview in New York, U.S., on Wednesday, April 19, 2017. Bloomberg | Bloomberg | Getty Images Companies are moving their supply chains out of China instead of waiting for a trade resolution between Washington and Beijing, BlackRock Chairman and CEO Larry Fink
Month: July 2019
Hero Images | Hero Images | Getty Images The statistic is used to show how unequal things have become in the U.S.: Some 40% of Americans would struggle to come up with even $400 to pay for an unexpected bill. If — or, more likely, when — they’re confronted with such an expense, they’d probably
Workers stand near Boeing 737 MAX airplanes as they sit parked at a Boeing facility adjacent to King County International Airport, known as Boeing Field, on May 31, 2019 in Seattle, Washington. David Ryder | Getty Images Boeing on Thursday said it will take a $4.9 billion charge to the second quarter due to the
Facebook Vice President David Marcus is the face of the company’s Libra digital currency, but the original driving force was a 26-year-old female engineer named Morgan Beller. Source: Facebook On February 12, 2018, Silicon Valley investor and cryptocurrency technologist Howard Wu was invited to Facebook headquarters in Menlo Park to discuss the implications, opportunities and
Tropical Storm Barry is shown in the Gulf of Mexico approaching the coast of Louisiana, in this July 11, 2019 NASA satellite handout photo. NASA | Reuters Homeowners dealing with damage from summer storms have another disappointment ahead: They may not be able to get a tax break for their losses. That’s because a provision
CEO of Apple Tim Cook attends China Development Forum 2019 at the Diaoyutai State Guesthouse on March 23, 2019 in Beijing, China. Han Haiden | Visual China Group | Getty Images Here are the biggest calls on Wall Street on Friday: Nomura Instinet raised its price target on Apple to $180 from $175 Nomura raised
Former Major League Baseball star Alex Rodriguez is making it part of his mission to educate athletes about saving money. While they may make big salaries during their time on the field, many of them wind up broke once they leave the game. Instead of blowing all their money on big purchases such as fancy
The Federal Reserve Bank of Boston’s President and CEO Eric S. Rosengren Keith Bedford | Reuters Boston Federal Reserve President Eric Rosengren is lining up against an apparent push to cut interest rates, telling CNBC in an interview Friday that the central bank can afford to be patient as long as the economy holds up.
Larry Fink Anjali Sundaram | CNBC BlackRock, the world’s largest asset manager, missed analysts’ estimates for quarterly profit on Friday, as investment advisory and securities lending revenue fell and costs rose. Its institutional funds added $87.36 billion in the second quarter, up from $29.12 billion in the first quarter. Investors poured more money into BlackRock’s actively
Tom Cruise on the set of “Top Gun.” Paramount Pictures | Sunset Boulevard | Corbis | Getty Images On Thursday, Paramount debuted the first trailer for “Top Gun: Maverick,” a sequel to the much beloved ’80s classic “Top Gun,” at San Diego Comic-Con. By Friday, eagle-eyed fans had spotted one big difference between the iconic
David Marcus, Head of Calibra at Facebook, testifies about Facebook’s proposed digital currency called Libra, during a Senate Banking, House and Urban Affairs Committee hearing on Capitol Hill in Washington, DC, July 16, 2019. Saul Loeb | AFP | Getty Images Lawmakers interrogated David Marcus, Facebook’s cryptocurrency chief, asking how the company will educate the
Tesla Model 3 is being displayed for the press members ahead of 97th Brussels Motor Show at Brussels Expo Center in Brussels, Belgium on January 19, 2019. Dursun Aydemir | Anadolu Agency | Getty Images Tesla got a boost on Friday from one of its biggest Wall Street skeptics, who now sees Elon Musk’s electric
The “Fast Money ” traders shared their first moves for the market open. Steve Grasso was a buyer of Zoetis. Karen Finerman was a buyer of Red Robin. Dan Nathan was a seller of Microsoft. Guy Adami was a buyer of Newmont Goldcorp. Disclosure Trader disclosure: Steve Grasso is long stock AAPL, BHC, CAR, EVGN, GE,
Getty Images Credit card issuer American Express beat analysts’ estimates for quarterly profit on Friday, as a healthy U.S. economy fueled higher spending by its customers. Customer spending rose 7% in the United States, the company’s biggest market, and 5% globally in the second quarter. U.S. consumer spending increased in May and April. Debit and credit card
PillPack co-founders TJ Parker and Elliot Cohen. Just over a year after buying online pharmacy PillPack for $753 million, Amazon is engaged in a bitter battle with an incumbent player in the pharmacy industry, which sources tell CNBC is working behind the scenes to prevent the company from accessing important patient data. PillPack’s pharmacy delivery
Photo by Hero Images via Getty Images Healthy couples retiring in 2019 will have to dig deep to cover medical expenses. A 65-year-old couple in good health will need $387,644 to pay for health-care costs for the remainder of their lives, according to HealthView Services, a provider of health-care cost projection software. That sum includes
Signage is displayed outside Morgan Stanley & Co. headquarters in the Times Square neighborhood of New York. Michael Nagle | Bloomberg | Getty Images Morgan Stanley‘s rich clients may have gotten surprised by their tax bills this year. The bank’s wealth management business was hit by an unexpectedly high outflow of deposits in the second
John C. Williams, president and CEO of the Federal Reserve Bank of New York speaks to the Economic Club of New York, March 6, 2019. Lucas Jackson | Reuters When New York Federal Reserve President John Williams said central bankers need to “act quickly” as economic growth slows, a spokesperson said he was drawing from
UnitedHealthcare office Michael Nagle | Bloomberg | Getty Images UnitedHealth reported a 12.7% rise in second-quarter profit on Thursday, as the company added more members to its health plans and revenue climbed in its Optum unit, which includes its pharmacy benefit management business. Net earnings attributable to shareholders rose to $3.29 billion, or $3.42 per share,
Satya Nadella speaking at the 2016 World Economic Forum in Davos, Switzerland. David A. Grogan | CNBC The age of Azure is upon us. For the first time in more than three years, Microsoft’s Intelligent Cloud reporting segment, which includes the Azure public cloud that competes with market leader Amazon Web Services, contributed more revenue
Flood waters cover a neighbourhood street after Tropical Storm Barry passed through in Mandeville, Louisiana on July 14, 2019. SETH HERALD | AFP | Getty Images Hurricane Barry dumped more than 23 in. of rain in places as it stormed up the Mississippi River Valley from Louisiana and Alabama to Arkansas and as far north
(L-R) Actors Noah Schnapp, Caleb McLaughlin and actress Sadie Sink pose after the Stranger Things panel during day 2 of Argentina Comic Con 2018 at Costa Salguero on December 08, 2018 in Buenos Aires, Argentina. Ricardo Ceppi | Getty Images | NETFLIX Wall Street analysts were urging clients to remain calm in the wake of
Market researcher James Bianco believes Wall Street is teetering closer to an earnings recession. Unless the Federal Reserve intervenes with a bigger-than-expected 50 basis point cut, he’s worried that year-over-year earnings growth rates for the second and third quarters will go even lower. “The estimates for the third quarter are somewhere just below zero. This
James Gorman, chief executive of Morgan Stanley. Qilai Shen | Bloomberg | Getty Images Morgan Stanley is set to report second-quarter earnings before the opening bell on Thursday. Here’s what Wall Street expects: Earnings: $1.14 a share, 12% lower than a year earlier, according to Refinitiv Revenue: $9.99 billion, 5.8% lower than a year earlier
A man smokes with the electronic tobacco heater IQOS (I quit ordinary smoking) of the tobacco company Philip Morris. Sebastian Kahnert | picture alliance | Getty Images Philip Morris International beat second-quarter earnings and revenue estimates while hiking its full-year forecast as its new tobacco products gain momentum. The tobacco giant is trying to pivot
Getty Images New Yorkers are paying the heftiest state income taxes. Residents in the state paid $2,249 per capita in individual state income taxes during the 2017 fiscal year, according to data from the Tax Foundation. Connecticut came in second with $2,218. Massachusetts followed in third: $2,146. Meanwhile, there are seven states that don’t tax
Andrew Left, founder and CEO of Citron Research Adam Jeffery | CNBC Andrew Left’s Citron Capital posted a net return of 24.7% after fees and expenses in the first half of 2019, according to an investment letter posted on the fund’s website Wednesday, but said “it has been an extraordinarily challenging environment to be a
Guests view sneakers on display for “The Ultimate Sneaker Collection” online auction at Sotheby’s on July 15, 2019 in New York City. Dia Dipasupil | Getty Images A collection of sneakers being auctioned by Sotheby’s sold for $850,000, proving that rare sneakers are becoming a coveted collectible. Sotheby’s and digital retailer Stadium Goods opened the
Fans gather at the Netflix booth at a trade show. Mike Blake | Reuters Check out the companies making headlines after the bell: Netflix fell more than 12% in after-hours trading following the release of its second-quarter earnings. The streaming giant reported global net adds of 2.7 million — much lower than earlier stated guidance
A United Airlines Boeing 737 Max 9 aircraft lands at San Francisco International Airport on March 13, 2019 in Burlingame, California. Justin Sullivan | Getty Images United Airlines Holdings’ on Tuesday reported second-quarter earnings that topped Wall Street’s expectations, sending shares up more than 1% in postmarket trading. The Chicago-based airline posted adjusted earnings per share
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