An employee counts 100-yuan banknotes at a bank in Lianyungang, China. STR | AFP | Getty Images The U.S. labeling China a currency manipulator is nothing but an “empty threat,” said Stephen Roach, a senior fellow at Yale University on Tuesday. The formal designation came a day after China allowed its currency to breach a
Month: August 2019
Legislators on Capitol Hill are looking to change a Social Security rule that some say leaves public workers, including teachers, firefighters and police officers, in the lurch when it comes to their retirement income. Rep. Kevin Brady, R-Texas, has put forward a new version of a bill he has advocated for in the past. Its
Apple CEO Tim Cook attends the annual session of China Development Forum (CDF) 2018 at the Diaoyutai State Guesthouse in Beijing, China March 26, 2018. Jason Lee | Reuters While Wall Street analysts are scrambling to assess the fallout of the latest in the U.S.-China trade battle, Apple is once again caught in the crossfire.
Traders work at the New York Stock Exchange in New York, the United States, Aug. 1, 2019. Wang Ying | Xinhua News Agency | Getty Images For investors looking to take shelter in a trade war, there are pockets of the market that have done well during huge market pullbacks in the past. The U.S.-China
The Thomson Reuters logo is seen on the company building in Times Square, New York. Carlo Allegri | Reuters Thomson Reuters raised its sales and core profit outlook for 2019 and 2020 on Thursday after reporting 4% organic revenue growth for the second quarter, which it said was its best since 2008 and ahead of
Former Vice President Joe Biden and U.S. Senator Kamala Harris gesture on the second night of the second 2020 Democratic U.S. presidential debate in Detroit, Michigan, July 31, 2019. Lucas Jackson | Reuters Congress is likely to pass a “middle-of-the-road” drug pricing reform package by the end of the year as both President Donald Trump
Lofilolo | Getty Images Most people would blanch at the idea of voluntarily overpaying the Internal Revenue Service more than half a million dollars. A retired accountant chose to write those huge checks to the taxman in a bid to hide money from his soon-to-be ex-wife, according to Peggy L. Tracy, a certified financial planner
President Donald J. Trump listens during a meeting on Fentanyl and the opioid epidemic in the Oval Office at the White House on Tuesday, June 25, 2019 in Washington, DC. Jabin Botsford | The Washington Post | Getty Images Uncertainty around what will happen next with the global economy and how governments will respond is
John Flint, chief executive officer of HSBC Holdings, at the World Economic Forum (WEF) in Davos, Switzerland on Jan. 24, 2019. Jason Alden | Bloomberg | Getty Images Shares of HSBC, Europe’s largest bank by assets, fell more than 1% in Hong Kong on Monday, after the surprise announcement of Chief Executive Officer John Flint’s
Customers wearing Taco Bell foam taco hats exit the company’s restaurant, a unit of Yum! Brands Inc. in Bangkok, Thailand, last January. Brent Lewin | Bloomberg | Getty Images Yum Brands reported second-quarter earnings Thursday that beat Wall Street’s expectations, sending its shares up more than 4% in premarket trading. Here’s what the company reported
A still image from a CVS Carepass video ad Source: CVS CVS has a plan to win over millennials and it looks a lot like Amazon Prime: free home delivery of products from shampoo to cold medicine, all for an annual membership fee of $48. CVS announced on Monday its CarePass program will expand nationwide.
When 27-year-old Ramon Gonzales was looking for a new job eight months ago, having access to a retirement plan was high on his list of priorities. Now Gonzales, the floor supervisor for the production team at Red Bay Coffee, has that ability to save. That’s thanks to CalSavers, California’s automatic individual retirement account plan, which
Traders work on the floor at the New York Stock Exchange (NYSE) in New York. Brendan McDermid | Reuters Bank of America is calling for U.S. stocks to hold near current levels through the rest of the year following President Donald Trump‘s move to put new tariffs on Chinese goods, which could further dampen corporate earnings.
Alternate crop.) Zion Williamson #1 of the Duke Blue Devils dunks the ball against the Syracuse Orange during their game in the quarterfinal round of the 2019 Men’s ACC Basketball Tournament at Spectrum Center on March 14, 2019 in Charlotte, North Carolina. ( Streeter Lecka | Getty Images Disney and Charter are still discussing a
A General Motors Co. (GM) Chevrolet 2020 Silverado HD High Country edition pickup truck sits on the assembly line during a reveal event at the GM plant in Flint, Michigan, U.S., on Tuesday, Feb. 5, 2019. Jeff Kowalsky | Bloomberg | Getty Images General Motors, the largest U.S. automaker, is expected to report its second-quarter
The 2019 Range Rover Sport P400e Mack Hogan | CNBC Jaguar Land Rover isn’t in the best market position right now. Sedans sales have crippled Jaguar, while Land Rover’s market share in China is contracting and both brands have supply chains that could be significantly disrupted by Brexit. The bright spot, though, is the Range
House Ways and Means Committee Chairman Kevin Brady (R-TX) holds up an example of the ‘postcard-sized’ form he wants people to use when filing their taxes during a markup session of the proposed GOP tax reform legislation in the Longworth House Office Building on Capitol Hill November 6, 2017 in Washington, DC. Getty Images The
A detailed view of the shoe worn by Zion Williamson #1 of the Duke Blue Devils against the North Carolina Tar Heels during their game at Cameron Indoor Stadium on February 20, 2019 in Durham, North Carolina. Streeter Lecka | Getty Images A new set of tariffs on China that particularly targets retailers has Wall
The problem with the Monopoly board game is that only one person ends up happy in the last half hour of the game, and everyone else is miserable. If you believe tech critics, some of the biggest companies in the industry have figured out a way around this unhappy ending in real life. Each one
Traders work on the floor at the New York Stock Exchange. Brendan McDermid | Reuters Two words from Federal Reserve Chairman Jerome Powell and one tweet from President Donald Trump turned the market upside down rapidly this week. Some traders saw it coming and are ready to reap big money as the sell-off gains steam.
About half of the United States should expect to have functioning next generation 5G wireless technology by 2020, Verizon CEO Hans Vestberg told CNBC on Thursday. “I think that’s next year,” Vestberg said, when asked when he sees 5G reaching 50% of America. By 2024, half the population will actually a 5G phone, he added.
Pedestrians walk by a KFC location in China Qilai Shen | Bloomberg | Getty Images Amid a trade war that has waged on for more than a year, the largest restaurant chains in the U.S. are ramping up development in China. Trade tensions between the U.S. and China once again flared up Thursday after President
What makes it so easy to spend money unthinkingly? Everything financial — from internet stores to credit cards to instant payments — is set up to make things as painless as possible, says Brent Weiss, a certified financial planner and co-founder at Facet Wealth in Baltimore. And spending is hardly exempt. “Marketers know this,” Weiss
China’s President Xi Jinping and U.S. President Donald Trump attend a welcome ceremony at the Great Hall of the People in Beijing on November 9, 2017. Nicholas Asfouri | AFP | Getty Images Wall Street strategists are preparing for what they call “a major escalation” in the wake of President Donald Trump’s announcement that a
Teen YouTuber Annie LeBlanc Jessica Spohr Annie LeBlanc got her first job at 6 years old. For eight years, she’s posted YouTube videos featuring gymnastics, original songs and various tutorials, amassing subscribers and building a loyal following of almost 3.7 million fans, LeBlanc told CNBC. She’s part of a generation of kids who want to
File photo of an ITT Technical Institute campus in Anaheim, California. Susan Goldman | Bloomberg | Getty Images When Morgan Marler’s 5-year-old daughter, Lilian, asks her why she doesn’t work anymore, Marler doesn’t know what to say. “I can’t explain debt to her,” Marler, 29, said. “And how I went to school and it was
A sign is seen at the entrance of the ExxonMobil Port Allen Lubricants Plant in Port Allen, Louisiana, November 6, 2015. Lee Celano | Reuters Exxon Mobil reported second-quarter results on Friday that beat analyst expectations, sending the company’s stock up more than 2% in the premarket. Here’s what Wall Street expected from the energy
Apple CEO Tim Cook delivers the keynote address during the 2019 Apple Worldwide Developer Conference (WWDC) on June 03, 2019 in San Jose, California. Justin Sullivan | Getty Images Apple spent $4.2 billion on research and development in the quarter ending in June, the highest quarterly amount it has ever spent on research and development,
Mihtiander | Getty Images Managing finances is important, but it’s not how a lot people are using their time. One in 5 American adults spend more time planning their vacations than managing their finances, according to an online survey of about 1,000 people from MyBankTracker.com. There could be several reasons why people dedicate more time
Bill Murray and Warren Buffett Arnold Jerocki | GC Images | Getty Images; Adam Jeffery | CNBC Two American icons hung out in an Omaha, Nebraska ice cream shop on Thursday afternoon. Billionaire investor Warren Buffett sat down for ice cream with actor and comedian Bill Murray at Ted and Wally’s, a store in Omaha’s