Pro-democracy protesters set barricade on fire at a demonstration in Causeway Bay district on October 6, 2019 in Hong Kong, China. Anthony Kwan | Getty Images News | Getty Images BEIJING — China will take countermeasures against the U.S. in response to a bill that favors the Hong Kong protesters, the Chinese Foreign Ministry said
Month: October 2019
A United Airlines airplane takes off at Newark Liberty Airport. Gary Hershorn | Getty Images United Airlines Holdings on Tuesday raised its earnings forecast for the year as travel demand continued to climb, boosting shares in after-hours trading. The airline’s performance puts it “ahead of pace” to meet its per-share earnings goal of $11 to $13
The logo of Zilingo is displayed on a window at the company’s office in Singapore. Ore Huiying | Bloomberg | Getty Images Southeast Asian fashion start-up Zilingo on Wednesday said it is launching a program in Indonesia, where it will provide microloans, vocational training and resources for women to run their own garment manufacturing businesses.
If you’ve settled an arbitration case with your broker at some point, there’s a chance it isn’t showing up in the popular database used by consumers to check financial advisors’ backgrounds. A new report from an investor advocacy group claims that some brokers and brokerages — with the aid of a handful of law firms
Adam Neumann, CEO of WeWork. Eduardo Munoz | Reuters Goldman Sachs was stung by its bet on WeWork — but not as badly as some analysts had feared. The bank lost about $80 million on its stake in the coworking company in the third quarter, CFO Stephen Scherr told investors Tuesday. While WeWork’s valuation plunged
The ideal tax rate for the richest 1% of Americans is about 75% — more than twice the current rates, according to the economist advising Sen. Elizabeth Warren on her tax plans. Gabriel Zucman, the University of California at Berkeley economist who is advising Warren and Sen. Bernie Sanders on their wealth tax proposals, told
Dow Jones Industrial Average surges 237 points The Dow rallies 237.44 points, or 0.89%, to close at 27,024.80. The S&P 500 gained 1% to end the day at 2,995.68. The Nasdaq Composite surged 1.24% to 8,148.71. Investors cheered a slew of better-than-expected quarterly earnings. Earnings lead the charge as trade talks take a backseat J.P.
Netflix CEO Reed Hastings. Philippe Huguen | AFP | Getty Images This quarter is Netflix‘s calm before the storm. The streaming video giant will report its third-quarter earnings Wednesday for the last time before a slew of competitors debut services that could derail customer growth both in the U.S. and abroad. Netflix estimates it will
State and local officials are reportedly in talks with three major drug distributors on a potential $18 billion settlement of litigation that blames them for helping to fuel the U.S. opioid epidemic. The potential settlement, according to the Wall Street Journal, would require McKesson Corp., AmerisourceBergen Corp. and Cardinal Health to collectively pay the $18 billion over
Fertnig | E+ | Getty Images When Aaron Shapiro dug through the workplace benefits his mother was entitled to as a 30-year employee at United Healthcare, he noticed a big missed opportunity. The health insurer’s employee stock purchase plan gave her the ability to buy shares at a 15% discount with a feature called a
Jordan Katzman, co-founder of SmileDirectClub Inc., left, and Alex Fenkell, co-founder of SmileDirectClub Inc., watch traders during the company’s initial public offering (IPO) at the Nasdaq MarketSite in New York, U.S., on Thursday, Sept. 12, 2019. Michael Nagle | Bloomberg | Getty Images Shares of SmileDirectClub plummeted more than 13%, on Monday after California Governor
Timothy A. Clary | Getty Images Here are the most important things to know about Tuesday before you hit the door. 1. Bank earnings on deck We’ll get quarterly earnings from the four largest U.S. banks with Goldman Sachs, J.P. Morgan Chase, Citigroup and Wells Fargo all reporting before the bell on Tuesday. Wall Street
The U.K.’s most famous fund manager has been forced to wind up his flagship fund after a months-long suspension. In a letter to investors Tuesday morning, the administrators of the Woodford Equity Income Fund, run by star manager Neil Woodford, said the fund would be closed down and cash returned to investors at the earliest
Terry Vine | DigitalVision | Getty Images No one likes to think about needing long-term care. Yet the reality is that many people will at some point in their life. About 60% of those turning 65 can expect to use some form of long-term care in their lives, according to the U.S. Health and Human
Towfiqu Photography | Moment | Getty Images If you can find your husband or wife online, why not your financial advisor? That’s why Andres Garcia-Amaya launched Zoe Financial, an online matchmaking engine that hooks up investors with registered investment advisors. A recent Stanford University study found that 39% of people surveyed met their spouse through
Berkshire Hathaway Chairman Warren Buffett walks through the exhibit hall as shareholders gather to hear from the billionaire investor at Berkshire Hathaway Inc’s annual shareholder meeting in Omaha, Nebraska, U.S., May 4, 2019. Scott Morgan | Reuters David Rolfe, a longtime Berkshire Hathaway shareholder and chief investment officer at Wedgewood Partners, is fed up with
John Hope Bryant, an advocate of economic empowerment through Operation Hope, wants Democratic presidential candidates Sens. Bernie Sanders, I-Vt., and Elizabeth Warren, D-Mass., to know that he would not have been successful without capitalism. “I think Bernie and Elizabeth mean well,” Bryant said on CNBC on Monday, regarding their criticism of how capitalism has led to
Dow Jones Industrial Average falls 29 points The Dow fell 29.23 points, or 0.11% to close at 26,787.36. The S&P 500 slipped 0.14% to 2,966.15. The Nasdaq Composite pulled back 0.10% to 8,048.65. The indexes traded in a tight range throughout the session as investors looked ahead to the start of the earnings season while
Southwest Airlines Boeing 737 MAX aircraft are parked on the tarmac after being grounded, at the Southern California Logistics Airport in Victorville, California on March 28, 2019. Mark Ralston | AFP | Getty Images The Boeing 737 Max won’t return to service at Southwest Airlines until February at the earliest, the union that represents the
All older Americans, regardless of income, are at risk of financial abuse. Various studies estimate that seniors in the U.S. are scammed out of anywhere from $3 billion to $37 billion a year. Between 2013 and 2017, those over age 70 lost an average of $41,800 to elder financial exploitation, according to an analysis by
SpaceX’s Crew Dragon capsule splashed into the Atlantic Ocean after completing its test flight for NASA. NASA TV LOS ANGELES — SpaceX is in the final stages of developing the capsule it will use to launch astronauts, a project that has commanded the company’s resources and even finances over the last few years. Known as
Two British former investment bankers are on trial in Germany for their role in orchestrating an equity trading scheme known as “cum-ex” between 2006 and 2011, which pocketed hundreds of millions of dollars from taxpayers. German papers have called it the most complicated tax fraud trial in modern German history, but the cum-ex scandal could
A Chinese flag is seen in front of containers at the Yangshan Deep-Water Port, an automated cargo wharf, in Shanghai on April 9, 2018. Johannes Eisele | AFP | Getty Images China‘s yuan-denominated exports fell 0.7% in September from a year ago, while imports dropped 6.2% during the same period, Reuters reported on Monday, citing
My 21-year-old sister, Janna McPartland, has a lot on her mind. Graduating from college. Finding a job. Dire predictions about global warming. The other day, I asked her how she was doing. “The planet is dying,” she said. I was surprised, then, when she showed eagerness recently in starting to save for her retirement. I’d
Fidelity clients saving for retirement are starting to move some money out of stocks in the recently volatile market, the brokerage’s personal investing president told CNBC on Friday. “The average investor that doesn’t trade a lot that’s really looking to save for their retirement — we have millions of customers like that — we’ve seen
The “Fast Money” traders shared their first moves for the market open. Brian Kelly was a buyer of Newmont Goldcorp. Karen Finerman was a buyer of Delta. Dan Nathan was a buyer of the 20+ Year Treasury Bond ETF. Guy Adami was a buyer of Robert Half. Disclosure Trader disclosure: Brian Kelly is long GLD. Short
NASA Administrator Jim Bridenstine, left, and SpaceX Chief Engineer Elon Musk, right, speak to press in front of the Crew Dragon that is being prepared for the Demo-2 mission. NASA/Aubrey Gemignani LOS ANGELES – SpaceX and Boeing are each in the final stages of developing the spacecraft needed for the U.S. to once again fly astronauts, with NASA’s
Chinese President Xi Jinping (R) and US President Donald Trump attend their bilateral meeting on the sidelines of the G20 Summit in Osaka on June 29, 2019. Brendan Smialowski | AFP | Getty Images President Donald Trump has the upper hand in the China trade war because tariffs are hurting the Chinese economy way more
The Federal Reserve will be continuing its overnight funding operations through at least January and will buy Treasury bills through the second quarter of 2020, the central bank announced Friday. The T-bill purchases will be large — $60 billion a month despite Fed officials’ insistence that the operation will be an “organic” move to grow the
Zedd performs onstage during the 2019 iHeartRadio Wango Tango at Dignity Health Sports Park on June 01, 2019 in Carson, California. Kevin Winter | Getty Images Entertainment | Getty Images Zedd, a high-profile DJ and music producer, has been permanently banned from China for liking a tweet from “South Park’s” official account. On Friday, Zedd
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