The six-day stranding of the Ever Given in the Suez Canal last March did something incredibly rare: it made regular people care about shipping, the means by which more than 80% of the world’s goods are transported. It took only one wrong turn for the container ship to bring a critical trading artery to a
Month: September 2021
A Social Security Administration office in San Francisco. Getty Images The debt ceiling debate has sparked conversation about whether Social Security payments will still go out on time. However, Congress also faces another deadline with regard to the nation’s largest social insurance program. In just 13 years the trust funds Social Security relies on to
Jeff Bezos, owner of Blue Origin, introduces a new lunar landing module called Blue Moon during an event at the Washington Convention Center, May 9, 2019 in Washington, DC. Mark Wilson | Getty Images Twenty-one current and former employees of Jeff Bezos’ Blue Origin claim the space company is a “toxic” workplace, according to an
In this article MORN Vlad Yushinov | iStock | Getty Images The stock market has taken some steep drops this month, and forecasts of a correction, or worse, are mounting. As a result, many investors may be wondering if it’s time to transfer some of their money to bonds, where returns can still be decent
In this article NVDA RIDE BBBY GM A shopper walks past a Bed Bath & Beyond Inc. store Andrew Harrer | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Bed Bath & Beyond – Shares of the big-box retailer plunged 23% after the company slashed its revenue and earnings outlook amid supply chain
In this article BBBY People walk out of a Bed Bath & Beyond store amid the coronavirus disease (COVID-19) pandemic in New York, January 27, 2021. Carlo Allegri | Reuters Bed Bath & Beyond shares tanked more than 17% in premarket trading Thursday as the company said it saw a steep drop-off in traffic in
In this article HNST FIGS WRBY Co-CEOs, Neil Blumenthal & Dave Gilboa of Warby Parker at the NYSE, September 29, 2021. Source: NYSE Warby Parker‘s debut Wednesday set a good precedent for a number of online-first retailers preparing to go public. Warby shares skyrocketed 36% Wednesday. Founded in 2010, the company started hawking its eyewear
Jodi Jacobson | E+ | Getty Images House Democrats proposed a change to the estate tax that would lead to more households having to pay up each year. But just how many people actually pay the tax, and how might the proposal change that share? The short answers: Few people pay it now, and the
Working remotely in a business built around relationships means adapting in more ways than one. For most financial advisory firms, the pandemic accelerated advancements already underway in virtual communications and paperless transactions. The best businesses maintained their personal connections with clients and safeguarded customer data at the same time. “We are now fully in the
Chamath Palihapitiya revealed that he sold his Tesla position for capital to invest in other investment ideas. The Social Capital Founder and CEO said that he exited his bet on the Elon Musk-led electric vehicle company “in the last year or so” as the high prices allowed him to generate cash to fund his other
For many, 2020 will be remembered as a year they spent at home. Others took a different path. They packed their bags and moved to places that many only dream of visiting. Here’s how they feel about their decision one year on, in their own words. From Boston to Napa Valley, California Name: Ian O’ReillyOccupation:
U.S. stock index futures inched higher during overnight trading on Wednesday, after tech stocks dipped again as investors digest the impact from higher rates. Futures contracts tied to the Dow Jones Industrial Average gained 81 points, or 0.24%. S&P 500 futures advanced 0.24%, while Nasdaq 100 futures gained 0.24%. The Dow and S&P 500 inched
LONDON — The co-founder and chief medical officer of BioNTech, the German firm which developed a Covid-19 vaccine alongside Pfizer, told CNBC that the world “should not live in fear” of the virus. “Covid will become manageable. It already has started to become manageable” Dr. Ozlem Tureci said in the latest episode of “The CNBC
Fez hats were once a symbol of the Ottoman Empire. But after they were banned in Egypt in the 1950s, fez shops largely disappeared. We visited one of the last shops in Cairo, where Nasser Abd El-Baset has been making fezzes for over 40 years. Nasser does not have a website and sells his fezzes
Stepping in front of the camera — on their terms. Models tell their stories of soaring agency commissions, bogus expenses, and withheld pay. But agencies say investing in fresh faces is risky and they are hired by the models… not the other way around.
In this article WRBY A customer tries on glasses at a Warby Parker store in Los Angeles. Michael Buckner | Getty Images Warby Parker’s stock debut may be a bit different from the norm, yet the expert advice still applies: Invest with caution. The popular eyewear maker began trading publicly on Wednesday through what’s called
d3sign | Moment | Getty Images Hiring young talent is imperative for financial advisors. But finding so-called “next-generation” advisors can be a challenge — largely because young college graduates are often unaware of financial advice as a career path, according to firms on CNBC’s annual FA 100 ranking. These top firms have found ways to
CNBC Brad Gerstner, Altimeter Capital Chairman and CEO, said his hedge fund sold stakes in United Airlines and Expedia, adding that easy gains from the rebound in travel stocks have been realized. “On July 1 this year after a big run-up in United and Expedia, we distributed those returns to investors…. I still think the
Elizabeth Holmes, left, and Steve Jobs CNBC; David Paul Morris | Bloomberg | Getty Images As the media started comparing Elizabeth Holmes to Steve Jobs, the former Theranos CEO wrote a note to herself that contained three telling words. “Becoming steve jobs -” Holmes wrote on April 2, 2015, according to documents obtained by CNBC.
Courtney Keating | iStock | Getty Images Being able to review a credit report in Spanish will be a huge help for Rosalie Remarais in her job as the Community Development Mortgage Loan officer at Five Star Bank in Rochester, New York. Remarais works with low- to moderate-income families, many of whom are first-time homebuyers,
It’s the year of the penthouse in Manhattan, with the upper-crust shelling out record prices for the highest floors of the city’s luxury towers. More than 500 New York City penthouses are likely to sell this year, which would be the largest number since 2007, according to the Corcoran Group. Penthouse 90 at 35 Hudson
Rep. Tom Suozzi, D-N.Y., speaks during a news conference announcing the State and Local Taxes (SALT) Caucus outside the U.S. Capitol on April 15, 2021. Sarah Silbiger | Bloomberg | Getty Images Rep. Tom Suozzi, D-N.Y., is expecting an agreement this week for changes to the $10,000 limit on the federal deduction for state and
Traders on the floor of the New York Stock Exchange, with Blend signage, July 16, 2021. Source: NYSE Strategists see more selling ahead after stocks sold off Tuesday, led downward by tech and large cap growth names. A sharp jump in interest rates over the last several sessions stung the market, particularly the growth names.
Elizabeth Holmes, founder of Theranos Inc., and husband Billy Evans leave federal court in San Jose, California, on Wednesday, Sept. 22, 2021. David Paul Morris | Bloomberg | Getty Images SAN JOSE, CALIF – In the first dramatic showdown at the Elizabeth Holmes’ trial, defense attorney Lance Wade aggressively questioned the company’s former lab director about
U.S. stock futures were mostly flat Tuesday night after the Nasdaq plummeted in its worst day since March as a spike in bond yields sent stocks tumbling. Dow Jones Industrial Average futures rose 78 points, or 0.23%. S&P 500 and Nasdaq 100 futures added 0.16% and 0.08%, respectively. Shares of the semiconductor company Micron fell
In this article LCID Electric vehicle start-up Lucid on Sept. 28, 2021 said production of its first cars for customers has started at its factory in in Casa Grande, Arizona. Lucid Electric vehicle start-up Lucid on Tuesday said production of its first cars for customers is underway, with deliveries scheduled to begin late next month.
April 19 — Back in the 1970s, Dr. Steve Rosenberg invented a new field of cancer treatment: immunotherapy, the harnessing of the body’s own immune system to fight tumors. Today, he’s using cutting-edge gene-editing techniques to help turn immunotherapy into the most promising cancer killer of our time. (Video by: Alan Jeffries)
Stacey Vanek Smith Photo: Sylvie Rosokoff Why aren’t things getting better for women? Stacey Vanek Smith couldn’t stop asking that question as she looked over the grim statistics: Eighty percent of CEOs are still men, corporate boards are more than 80% male, two-thirds of federal judges are male and 98% of venture capital goes to
In this article OMEG Traders work on the floor of the New York Stock Exchange (NYSE) in New York, on Monday, Aug. 23, 2021. Michael Nagle | Bloomberg | Getty Images SPACs are getting a much-needed reality check after investors and regulators grow wary of the Wall Street craze, and the majority of deals could
In this article WISE-GB Kristo Kaarmann, Co-Founder & CEO, TransferWise, on Centre Stage during day one of MoneyConf 2018 at the RDS Arena in Dublin. (Photo By Eóin Noonan/Sportsfile via Getty Images) Eoin Noonan | Sportsfile | Getty Images LONDON — The co-founder of $15 billion fintech start-up Wise has been slapped with a £365,651
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