Israel “Izzy” Englander, chairman and chief executive officer of Millennium Management LLC. Ronda Churchill | Bloomberg | Getty Images The 25 highest paid hedge fund managers made a record $32 billion in 2020, up more than 50% over 2019, according to Institutional Investor’s Rich List. A total of 15 hedge fund managers made $1 billion
Month: February 2021
Costfoto | Barcroft Media | Getty Images Bitcoin’s price descended further on Tuesday after U.S. Treasury Secretary Janet Yellen issued a warning about the cryptocurrency. The world’s most valuable digital coin plunged 16% in the last 24 hours, sinking below $50,000 to trade as low as $45,389 at 4:10 a.m. ET, according to data from
A view of the Regal Loews Cinemas movie theater in Times Square in New York City. Noam Galai | Getty Images After nearly a year of closures, New York City cinemas will be permitted to open on March 5, Gov. Andrew Cuomo said Monday. Movie theaters in the city will be allowed to operate at
The smallest businesses that have had the most trouble accessing forgivable loans from the Paycheck Protection Program will soon get extra help. The Biden administration on Monday announced changes for the pandemic aid program focused on helping small and minority owned firms as well as sole proprietors. For two weeks, starting Wednesday, the Small Business
Tetra Images | Tetra images | Getty Images A few years ago, I had a client tell me he invested in a fancy bowling alley — the new party hot spot in town. It’s since shut down. Another client shared that he joined the board of a start-up and they’re looking to raise capital. He
An image from the video taken by multiple cameras as NASA’s Perseverance rover landed on Mars on Feb. 18, 2021. NASA/JPL-Caltech NASA on Monday released first-of-its-kind video of a spacecraft landing on another planet, as multiple cameras captured its Perseverance rover touching down on the surface of Mars. The U.S. space agency landed Perseverance on
Mark Cuban became a billionaire just before the dot-com bubble burst. In 1995, Cuban and a friend, Todd Wagner, started an internet radio platform called Broadcast.com. Four years later, Broadcast.com was acquired by Yahoo for $5.7 billion in stock, making Cuban a very wealthy man. Since then, the “Shark Tank” investor and Dallas Mavericks owner
Pavlo Gonchar | LightRocket | Getty Images Hedge funds are still licking their wounds after a retail trading frenzy forced the industry to slash its overall exposure to stocks, leading to an underperformance in 2021. Last month, an army of retail investors who coordinated on social media managed to push GameStop shares up 400% in
2019 Jeep Cherokee Trailhawk Source: Fiat Chrysler The principal chief of the Cherokee Nation wants Jeep to stop using the tribe’s name on its SUVs, saying it “does not honor us by having our name plastered on the side of a car.” Jeep started using the Cherokee name more than 45 years ago, including on
Mark Makela | Getty Images News | Getty Images Americans may get another dose of extra unemployment benefits — and policymakers are debating the best way to deliver them. A host of lawmakers and economists want to put the aid on autopilot, phasing out supplemental benefits gradually rather than shutting them off on a specific
Citadel CEO Ken Griffin dismissed the idea that the firm improperly uses information it garners from its market-making operation as it comes under scrutiny from Congress about its role in the GameStop mania last month. “I think there’s been a number of misperceptions about the data we receive from the brokerage community. In fact, a
Chinese Foreign Minister Wang Yi speaks at a news conference after restoring diplomatic ties with Kiribati on the sidelines of the United Nations General Assembly in New York, U.S. September 27, 2019. Mark Kauzlarich | Reuters BEIJING — China’s Foreign Minister Wang Yi on Monday called on the new U.S. administration to stop the “suppression”
New York Giants wide receiver Sterling Shepard (87) catches a pass in front of Pittsburgh Steelers strong safety Terrell Edmunds (34) and linebacker Devin Bush (55) during the first half at MetLife Stadium. Vincent Carchietta | USA TODAY Sports The National Football League wants to charge its current network partners double what they’ve been paying
By almost every measure, the coronavirus crisis has been devastating for working women. More women work on the front lines and are at a greater risk of contracting Covid-19, putting themselves and their families in jeopardy. They have reported increased anxiety and stress as a direct result of new work routines and concerns about job
Adam Jeffery | CNBC After experiencing unusually broad market momentum since November, stocks are overdue for a lengthy pause or a correction. Stock picking will matter from here as the economic reopening determines different winners and losers. According to a team of J.P. Morgan strategists, “it wouldn’t be surprising to witness consolidation” given the current
Saul Loeb | AFP | Getty Images Amazon CEO Jeff Bezos reclaimed his title as the world’s richest person after he leapfrogged Tesla CEO Elon Musk, according to real-time data from Forbes. Musk saw his net worth slide by $3.9 billion on Tuesday as Tesla shares closed at $796.22, down more than 2.4%. The 49-year-old
An activist wears a “Fight For $15” T-shirt at a news conference prior to a vote on the Raise the Wage Act, July 18, 2019 at the U.S. Capitol. Alex Wong | Getty Images A $15 minimum wage could become a reality in the U.S. While millions would get a pay boost from a higher
(L to R) Ava Duvernay, Spike Lee, Jordan Peele Getty Images The films that launched the entertainment industry around the turn of the 20th century were created for white audiences by white filmmakers. It took decades for Black directors to break into the industry and alter how Hollywood operated behind and in front of the
The beaches in Cancun, Mexico, have been crowded despite the Covid-19 epidemic . Barcroft Media | Barcroft Media | Getty Images Even Sen. Ted Cruz admits his decision to vacation in sunny Cancun, Mexico, this week while his home state of Texas was suffering record cold and massive power outages was “obviously a mistake,” as
Former TD Ameritrade CEO Fred Tomczyk told CNBC on Friday he believes retail stock market investors have never had it better when it comes to competing against Wall Street pros. “When you think about what the retail investor has today, they have free trading, free research, free investor education, and they have faster and better
A cluster of islands in the northernmost region of the Philippines is so remote that they are actually closer to Taiwan than to most parts of the Philippines. The islands sit 100 miles north of Luzon, the country’s largest and most populous island and home to the capital city of Manila. Yet, they couldn’t be
A worker repairs a power line in Austin, Texas, U.S., on Wednesday, Feb. 18, 2021. Thomas Ryan Allison | Bloomberg | Getty Images The Electric Reliability Council of Texas, which is known as ERCOT and controls the majority of the state’s power, said it plans to come out of emergency conditions on Friday as power
Governor Andrew Cuomo holds daily press briefing at the foot of Mario Cuomo Bridge in Tarrytown, New York, June 15, 2020. Lev Radin | Pacific Press | LightRocket via Getty Images What a difference a few months have made for New York Gov. Andrew Cuomo — and not in a good way. Cuomo last year
PeopleImages You might want to buckle up for this tax season. Whether due to pandemic-related relief, remote work or no work, individuals may find that preparing their 2020 taxes is a bigger challenge than usual. “I think it’s going to be much more complicated,” said Julio Gonzalez, CEO of Engineered Tax Services. This year, the
Carl Icahn at the 6th annual CNBC Institutional Investor Delivering Alpha Conference on September 13, 2016. Heidi Gutman | CNBC Company: Bausch Health Companies Inc. (BHC) Bausch Health Companies Inc, formerly Valeant Pharmaceuticals International Inc, is a Canada-based company that develops, manufactures and markets a range of branded and generic pharmaceuticals, medical devices and over-the-counter
Americans have opened their wallets in response to crises like Covid-19 and racial injustice, according to the most recent data from the Association of Fundraising Professionals. The organization reports a 7.6% increase in the amount donated through the first nine months of 2020. Leading the surge: smaller contributions of $250 or less. At the same time,
Samuel Corum/Bloomberg via Getty Images Many Americans will get an unwelcome surprise this tax season: the realization they were victims of unemployment fraud. Millions of workers have collected jobless benefits during the Covid pandemic. They must pay taxes on that aid. But criminals have stolen identities en masse to collect benefits in others’ names, according
The biggest source of growth for Coca-Cola over the next few years will likely be the zero-sugar version of the company’s namesake soda. “Actually, the best growth driver in ’21 and probably for the few years is probably going to be Coke Zero Sugar,” Coke CEO James Quincey said in an interview that aired Friday
Sarah Casillas | DigitalVision | Getty Images A new coronavirus relief bill could give millions of Americans $1,400 stimulus checks. Congress is poised to pass the legislation in March, at which point individuals and families could see the money in the following days or weeks. But as negotiations continue, one argument has surfaced: Is the
Elon Musk’s SpaceX is now worth $74 billion after it raised more capital last week – and the strong demand for shares means many investors believe the company’s two ambitious projects will drive that valuation even higher. The company’s valuation jumped 60% from its previous capital raise, which was just six months ago. And SpaceX’s
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