The Federal Reserve is continuing to examine its program to reduce its balance sheet and likely will have to make another tweak at the December meeting to keep it running smoothly. In a process begun in October 2017, the bank is decreasing the size of its bond portfolio, which grew to more than $4.5 trillion
Cloud storage provider Box reported a smaller-than-expected quarterly loss as it added more customers, and forecast full-year revenue estimates above analysts’ estimates. The company’s shares, which have fallen about 14 percent this year, rose 5 percent in extended trading. Box ended its third quarter with more than 90,000 paying customers, up from 87,000 in the
Volvo is scaling back plans for its new assembly plant just outside Charleston, South Carolina as a result of the trade war triggered by President Donald Trump. The $1.1 billion factory opened earlier this year and was expected to earmark about half of its capacity for export markets, including China, where Volvo’s parent, Zhejiang Geely,
In a perfect world, saving for retirement would be easy. That world assumes everyone makes an adequate salary, can afford all their necessities and a few frills, and feel comfortable setting aside some money for the future. Yet the reality is that retirement saving is not easy for everyone. Lower income and debt, whether from
Even though anti-competitive mergers tend to be bad for customers, they tend to stack the odds in Wall Street’s favor, CNBC’s Jim Cramer said Wednesday. “I love the stocks of companies that have somehow found a way to legally give themselves a seemingly unfair advantage. That’s the best kind of advantage,” the “Mad Money” host
Doing good is its own reward. Reaping the tax benefits is a nice perk. Charitable donations generally kick into high gear on “Giving Tuesday,” a single day specifically focused on charity in the shopping-heavy week after Thanksgiving. #GivingTuesday raised $300 million last year, according to GivingTuesday.org – although it remains to be seen whether this
British mobile bank Revolut has obtained licenses to operate in Japan and Singapore as it readies an expansion into Asia. The London-based financial technology firm said Thursday that it had acquired a remittance license from the Monetary Authority of Singapore and full authorization from Japan’s Financial Services Agency. Revolut offers users a prepaid debit card
Ride-hailing service Uber has made its exit from Southeast Asia — and now the battle between two of region’s most valuable start-ups is beginning. Go-Jek, Indonesia’s first “unicorn” — tech-speak for a startup that’s believed to be valued at $1 billion or more — is taking the competition to rival Grab’s home turf in Singapore.
Can you imagine refusing a portion of your paycheck and giving the money back to your employer instead? That’s essentially what you’re doing if you fail to use your benefits to their full extent. “It’s often the little things that add up,” said Kelley Long, CPA and member of the American Institute of CPAs’ Consumer
Brutal sell-offs have taken down some of Wall Street’s most highly prized stocks. The FAANG stocks — Facebook, Apple, Amazon, Netflix and Google parent Alphabet – which had driven the markets to records earlier this year have plummeted in the past three months with four-fifths in bear market territory. Michael Batnick, director of research at
Global wage growth fell to its lowest in almost a decade last year, with the U.K. seeing weaker wage growth than any other advanced G-20 nation. Published Monday, the International Labour Organization (ILO)’s Global Wage Report found that international wage growth saw a 0.6 percent decline in 2017, based on data from 136 countries. Since
Sears Chairman Eddie Lampert is partnering with Cyrus Capital Partners in its bid for Sears Holdings, Bloomberg reported on Wednesday. Lampert has said in court filings his hedge fund, ESL Investments, is planning to buy roughly 500 of Sears’ stores, helping it to emerge from bankruptcy. It has been unclear how ESL would finance such
Salesforce.com is in peak performance mode as companies shift their operations to become more digital and cloud-reliant, the software giant’s Chairman, co-founder and co-CEO Marc Benioff told CNBC on Tuesday. “I don’t think the company’s ever been stronger or been in a better position, and the reason why is every company that we’re dealing with
Many on Wall Street are busy publishing 2019 market estimates but Morgan Stanley’s added an outlook on the space industry. “We expect industry / technological milestones and capital formation will up the ante starting in 2019,” Morgan Stanley’s Adam Jonas wrote in a note to investors on Wednesday. Jonas, along with other Morgan Stanley analysts,
If you were planning on nabbing a deduction for your mortgage insurance or your college expenses, prepare to sit tight. That’s because these and other breaks that are known as the “tax extenders” are bundled into newly proposed legislation that’s likely going nowhere fast, according to policy experts. The House Ways and Means Committee proposed
After years of breaking down market moves for investors — often times at the risk of being wrong — CNBC’s Jim Cramer is taking a stand against market commentators who play it safe, but never really help the average stock-picker. “If I came out here every day and said it was the seventh inning of
Insight from retail experts and insiders ahead of the 2018 holiday shopping season including Former Saks CEO Steve Sadove; O: The Oprah Magazine Creative Director Adam Glassman; and CNBC’s Lauren Hirsch. Fortt Knox is a weekly podcast from CNBC anchor Jon Fortt . Previous episodes of the program can be found here.
Relations between China and the U.S. have the potential derail global economic growth, but the ongoing tariff fight is a political matter between U.S. President Donald Trump and Chinese President Xi Jinping, said a major Chinese private equity fund company. Despite trade tensions between the two economic giants, there are plenty of reasons for them
European stocks opened higher Wednesday, as investors looked ahead to an all-important G-20 summit later this week. The pan-European Stoxx 600 was up around 0.46 percent shortly after the opening bell, with most sectors and major bourses in positive territory. As the latest G-20 summit draws closer, investors continue to closely monitor simmering tensions between
If a crowdfunding campaign is part of your charitable plans for #GivingTuesday or later in the holiday season, take care to make sure your act of kindness doesn’t have unintended consequences. More than 1 in 5 consumers (22 percent) have pitched in for at least one such project, which raise money toward a common aim
Survey after survey reveals that millennials are resigned to the idea that Social Security, as we know it, might not be there by the time they reach retirement age. According to a Transamerica survey, 81 percent of millennials polled believe this to be true. This is in contrast to a 2011 survey, which found that
With more people applying for mortgages online, the lending landscape was expected to become more equitable. The logic was that lenders couldn’t discriminate against a borrower based on their skin color if they weren’t face-to-face with them. Yet algorithms can be just as biased as a loan officer sitting across a desk, according to a
Insight from retail experts and insiders ahead of the 2018 holiday shopping season including Former Saks CEO Steve Sadove; O: The Oprah Magazine Creative Director Adam Glassman; and CNBC’s Lauren Hirsch. Fortt Knox is a weekly podcast from CNBC anchor Jon Fortt . Previous episodes of the program can be found here.
Robinhood just got one step closer to an initial public offering. The stock-trading platform hired Amazon veteran Jason Warnick as its first-ever chief financial officer, Robinhood announced in a blog post. The company had been looking to fill the role as part of its long-term strategy to go public, Robinhood co-CEO Baiju Bhatt said in
Amazon‘s cloud business is launching a satellite connection service, marking the company’s first public move into space-related hardware and a continuation of its efforts to support the growing industry. The company’s AWS Ground Station unit is building a network of satellite facilities around the world, according to Spire Global, a company which builds and operates
Nothing will kill your holiday cheer like good, old identity theft. Shoppers are expected to spend a record $7.8 billion this Cyber Monday, up over 17 percent from last year, according to estimates from Adobe Insights. At the same time, attacks against consumers spike during the busy online shopping holiday, according to OpenVPN, a provider
If Apple ultimately decided to move production of its iPhone from China to the United States, it would be a “massive” undertaking, venture capitalist Gene Munster told CNBC on Monday. The tech giant is facing potential tariffs as a result of the escalating trade war between the U.S. and China. On Monday, President Donald Trump
United Technologies announced late Monday that it intends to separate into three companies: United Technologies, Otis and Carrier. The industrial giant has scheduled an investor call for Tuesday at 8 a.m., ET. Shares of United Technologies gained more than 2 percent in after-hours trading. Activist investor Dan Loeb had pushed for United Technologies to split
Monday’s reversal in the stock market could be the start of a bounce for the largely oversold equity cohort, CNBC’s Jim Cramer said as stocks recovered from their Thanksgiving-week declines. Stocks got “very oversold” on Friday amid a plunge in oil prices and technology-led weakness, said Cramer, noting that the paid S&P oscillator he follows
Investors can’t own shares of United Technologies without considering the threats that interest rates and tariffs pose to its business, CNBC’s Jim Cramer said Monday. Speaking after Chinese authorities approved United Technologies’ purchase of aircraft parts manufacturer Rockwell Collins — the final hurdle in a 14-month-long process — Cramer said that prospective buyers should watch