If your employer doesn’t offer a retirement plan, a new option might change that. A federal rule now in effect allows companies to team up through certain employer groups and professional organizations to offer a shared 401(k) plan to their workers. The rule, which aims to expand the use of so-called multiple-employer plans, comes as
Month: September 2019
iPhone 11, iPhone 11 Pro, iPhone 11 Pro Max Todd Haselton | CNBC J.P. Morgan raised its price target on Apple’s stock Monday, expecting the company’s shares will rise 21% as sales of its new line of iPhone are “stronger than muted expectations.” “We are modestly raising our iPhone volume forecasts and expect investor sentiment
Chinese President Xi Jinping chats with President Donald Trump during a welcome ceremony in Beijing on Nov. 9, 2017. AP Photo | Andy Wong The stock market got caught in the perfect storm of escalated trade tensions and impeachment fears in September, but it came out just fine with the S&P 500 poised to eke
Sen. Bernie Sanders Monday proposed an “inequality tax” that would hit McDonald’s, J.P. Morgan and Walmart especially hard, according to the Sanders campaign. The presidential candidate announced Monday a proposed tax on companies with a large gap between the CEO’s pay and the median salary of its workers. “It is time to send a message
Getty Images When public safety technologies company Axon wanted to change the performance incentives for its CEO, Rick Smith, the company took it one step further. Now, the company’s employees are able to participate in an aggressive compensation plan that’s tied to the public company’s goals. The plan mirrors the same incentives Smith is working
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 U.S. consumers are getting increasingly anxious about the trade war with China despite a recent thaw in the tensions ahead of the trade
A Chinese and U.S. flag at a booth during the first China International Import Expo in Shanghai, taken on taken on November 6, 2018. Johannes Eisele | AFP | Getty Images Beijing called Washington’s potential restrictions on U.S. investments in China “the latest attempt at a decoupling,” in a Global Times piece published on Sunday.
European stocks are set to open slightly lower Monday morning, amid reports the U.S. is considering imposing investment curbs on China. The FTSE 100 is seen 8 points lower at 7,418, the CAC is expected to open down around 10 points at 5,630, while the DAX is poised to start 17 points lower at 12,363,
Today’s reality: Before you decide on which college to attend, you have to come up with a way to pay for it. To that end, families are relying on financial aid more than ever before to help cover the skyrocketing cost of tuition. More than 8 in 10 families tap scholarships and grants — money
Randal Quarles, vice chairman of supervision at the Federal Reserve, at the NABE Economic Policy Conference in Washington, D.C., U.S. on Feb. 26, 2018. Joshua Roberts Washington, D.C. — The U.S. economy is chugging along nicely even as worries over the country’s trade policy are hurting business investment, a top Federal Reserve official said Friday.
Chinese Vice Premier Liu He (L), Central Bank Governor Yi Gang (2nd L) and other Chinese vice ministers and senior officials sit down with Trump Administration officials for negotiations in the Diplomatic Room at the Eisenhower Executive Office Building January 30, 2019 in Washington, DC. Chip Somodevilla | Getty Images BEIJING — China’s top trade
The 2019 Acura NSX Mack Hogan | CNBC Acura reinvented the supercar 29 years ago with the original NSX. The high-powered, mid-engined supercar went toe-to-toe with Ferrari and Porsche while offering Acura levels of reliability and ease of use. While Ferrari owners had to pull the engine out of their cars every few years for
Westend61 | Westend61 | Getty Images Ed Gjertsen II, a financial advisor in Northfield, Illinois, knew something was fishy when an elderly and infirm client started cashing checks at a local bar. It was out of character for the investor, a single man in his 70s. “These were small checks: $500 here, $1,000 there,” said
Charles Scharf Qilai Shen | Bloomberg | Getty Images Three decades before Charlie Scharf was named CEO of Wells Fargo, he got his start by mailing his resume to an up-and-coming banker named Jamie Dimon. Scharf was a senior at Johns Hopkins University when Dimon hired him at Baltimore lender Commercial Credit. That move proved
The third quarter wraps up in the week ahead with stocks just slightly higher for the period, after a summer of zigzag moves. The market faces some of the same challenges in the final quarter of the year, including Brexit, the trade war with China, sluggishness in the global economy and the impeachment inquiry into
[This stream is slated to begin at 9 p.m. ET. Please refresh if you do not see the player above at that time] SpaceX founder and CEO Elon Musk is slated to give an updated presentation on the company’s Starship rocket on Saturday evening in Cameron County, Texas. The massive rocket represents the company’s ambition
Julie Thurston | Getty Images It’s cram time for entrepreneurs and other taxpayers with complicated income tax returns. That’s because the Oct. 15 deadline for taxpayers who filed for an extension with the IRS is right around the corner. Though these same taxpayers were able to get more time to work on their 2018 tax
Recent highly publicized flops by supposedly disruptive companies could be painting an unpleasant picture ahead for innovation, at least in how it’s viewed in the financial markets. Investors have turned thumbs-down on high-profile companies including WeWork, Uber and Tesla. Industries including marijuana, vaping and bitcoin all have seen big price drops following a spate of
A new “Test-the-Waters” rule by the Securities and Exchange Commission could help stave off disappointing public market debuts — like those felt by Peloton and SmileDirectClub in recent weeks. The rule, announced Thursday, comes on the heels of a string of lackluster IPOs, and is intended to help companies gauge investor interest before officially going
SpaceX founder and CEO Elon Musk will provide an update on the company’s next-generation rocket as well as its plans for trips to the moon and Mars from a growing facility in the southernmost part of Texas Saturday evening. Called Starship, this rocket represents the vessel of SpaceX’s vision: Make humanity a species that lives
Bettmann | Getty Images If you want to know where the wealthy prefer to put their money, you might be surprised to find out it’s in cash. A Capgemini report found that cash surpassed equities for high-net-worth individuals as their No. 1 asset class in the first quarter of 2019. The reason: market uncertainty. In
People walk past a board with the logo of Bitcoin in a street in Yerevan, Armenia September 9, 2019. Anton Vaganov | Reuters This has been a tough week for bitcoin. The world’s first and largest cryptocurrency plunged more than 20% over seven days, hitting a low of $7,757 Friday — its lowest level since
U.S. Federal Reserve Board Chairwoman Janet Yellen Win McNamee | Getty Images WASHINGTON — The Federal Reserve’s estimates for long-term economic growth may be a bit too positive, former Fed Chair Janet Yellen said Friday. The central bank kept the median estimate for long-term growth at 1.9% earlier this month. An expansion of 1.9% is
CNBC’s Jim Cramer reacts to the Trump administration’s move to consider stopping U.S. investors from investing into China’s businesses and debriefs the 2019 class of IPOs. The “Mad Money” host makes recommendations for investors who are worried about the future of the American health care system. He holds an interview with the CEO of CNBC
Getty Images If you’ve been racking your brain about where to retire on a budget, it might be time to think outside the U.S. A report by International Living, which publishes information about living abroad, lists destinations where you can coast on less than $30,000 a year. To be sure, retiring in a new country
President Donald Trump speaks to reporters after arriving aboard Air Force One at Joint Base Andrews, Maryland, September 26, 2019. Jonathan Ernst | Reuters CNBC’s Jim Cramer said on Friday he would support President Donald Trump blocking U.S. investments in China. The idea reportedly under consideration at the White House could include blocking all U.S.
The Federal Reserve has used open market operations to soothe the short-term funding market, and now its temporary fix faces a test as the third quarter ends. The Fed has used overnight and 14-day market operations to stabilize the repo market, used by financial institutions to fund themselves on a short term basis. The Fed
An employee works next to shoes on display inside the flagship store of sporting-goods giant Nike in Shanghai on March 16, 2017. Johannes Eisele | AFP | Getty Images Nike on Tuesday reported quarterly earnings and sales that topped analysts’ expectations, as investments it’s made to sell more directly to customers showed signs of paying
United Auto Workers members on strike picket outside General Motors’ Detroit-Hamtramck Assembly plant on Sept. 25, 2019 with Vermont Sen. Bernie Sanders (far left) in Detroit. Michael Wayland / CNBC DETROIT – The United Auto Workers’ strike against General Motors will enter its third week barring any breakthroughs over the weekend, potentially causing additional layoffs
michaeljung | iStock | Getty Images Employers and workers will shell out more cash for health insurance in 2020. Large companies predict the total cost of workplace health-care coverage to reach an average of $15,375 next year, according the National Business Group on Health. That’s up from $14,642 in 2019. This figure combines workers’ and
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