The Federal Reserve on Wednesday held benchmark interest rates near zero, but indicated rate hikes could be coming a bit sooner than expected while significantly cutting their economic outlook for this year. Along with those largely expected moves, officials on the policymaking Federal Open Market Committee indicated they will start pulling back on some of
Month: September 2021
In this article FB AMZN GOOGL Google’s $2.1 billion deal to buy a Manhattan office building adds to the rapid growth of Silicon Alley, despite the growth of remote work and a decline in the New York office market. Google is buying the former St. John’s Terminal on Manhattan’s West Side, expanding its footprint downtown.
Halfpoint Images | Moment | Getty Images New data on the monthly child tax credit payments shows how parents earning up to $50,000 a year are using the extra money. They’re investing it. The monthly checks started in July, and include up to $300 per child under age 6 and $250 per month for children
Omar Marques | LightRocket | Getty Images DraftKings is making a $20 billion offer to acquire U.K. online sports betting company Entain, people familiar with the matter told CNBC’s David Faber on Tuesday. The offer is largely in DraftKings stock, along with cash, according to the sources. Entain shares jumped more than 15% in London
Elizabeth Holmes, founder of Theranos Inc., exits federal court in San Jose, California, on Tuesday, Aug. 31, 2021. David Paul Morris | Bloomberg | Getty Images SAN JOSE, CALIF. — The first patient to take the stand in trial of former Theranos CEO Elizabeth Holmes said that the company’s blood test inaccurately showed she was
In this article 6666-HK A significant buying opportunity may be unfolding on Wall Street. Canaccord Genuity’s Tony Dwyer believes a record rally will follow the recent market tumult. “We’re going to move from this summer of indigestion into the year-end opportunity,” the firm’s chief market strategist told CNBC’s “Trading Nation” on Tuesday. “We’re just not
In this article SFIX The Stitch Fix application for download in the Apple App Store on a smartphone arranged in Hastings-on-Hudson, New York, U.S., on Saturday, June 5, 2021. Stitch Fix Inc. is scheduled to release earning on June 7. Tiffany Hagler-Geard | Bloomberg | Getty Images Stitch Fix shares jumped more than 18% in
Travelers at Indira Gandhi International Airport in New Delhi, India, on Tuesday, Aug. 24, 2021. T. Narayan | Bloomberg | Getty Images India slammed the U.K.’s decision to exclude vaccinated Indian travelers from its new travel guidelines, calling it “discriminatory” and warning of reciprocal measures. The British government will next month allow fully vaccinated travelers
skynesher New retirees — or anyone on the verge of retiring — may want to consider what an extended stock market dip would mean for their portfolio over the long-term. While the market has partially rebounded from Monday’s slide, it’s a good reminder that down markets can pose significant “sequence of returns” risk in the
Charlie Javice, Founder/CEO of Frank, which is a college financial aid start-up. Source: JP Morgan JPMorgan Chase has acquired college planning platform Frank to deepen relationships with students and their parents, CNBC has learned exclusively. Frank is an online portal with tools that help students apply for and negotiate financial aid, enroll in online courses
In this article ATVI JNJ COP DKNG Uber CEO Dara Khosrowshahi speaks at a product launch event in San Francisco, California on September 26, 2019. Philip Pacheco | AFP via Getty Images Check out the companies making headlines in midday trading. Uber — The ride-hailing giant saw its stock surging 11% after the company boosted
A Sheriff’s deputy takes an employee’s temperature as at Las Colinas women’s Detention Facility in Santee, California on Wednesday, April22, 2020. Sandy Huffaker | AFP | Getty Images The fast-spreading delta variant ripped through a federal prison in Texas over the summer, infecting both the unvaccinated and fully vaccinated populations, but few were hospitalized, according
Chip Somodevilla | Getty Images News | Getty Images A tax package unveiled by House Democrats would forbid individual retirement accounts from holding certain private investments typically reserved for the wealthy. While proponents think the proposal would raise investor protection and reduce an the use of an IRA as a tax shelter for the rich,
In this article WISE-GB The Wise logo displayed on a smartphone screen. Pavlo Gonchar | SOPA Images | LightRocket via Getty Images LONDON — British financial technology firm Wise debuted an investments feature Tuesday that lets users invest in stocks through multiple currencies and spend their holdings. The new feature, called Assets, allows customers to
Former Food and Drug Administration Commissioner Dr. Mark McClellan told CNBC that it seems realistic that younger kids will be getting vaccinated for Covid-19 based on the new data released by Pfizer on Monday. “Those findings are very promising, especially around the ability of a very small dose, leading to a very strong immune reaction,”
In this article TSLA Jeff Bezos, left, and Elon Musk Getty Images; Reuters The wealthiest Americans may be dodging as much as $163 billion in income taxes every year, according to the U.S. Department of the Treasury, and many leverage tax laws to do it legally, financial experts say. Although U.S. levies increase with income,
In this article AAL COIN AZN-GB Bundles of steel from Nucor Corp. sit for sale to at Thompson Building Materials in Lomita, California, U.S., on Thursday, Aug. 30, 2012. Patrick Fallon | Bloomberg | Getty Images Check out the companies making headlines in midday trading. American Airlines, United Airlines, Delta Air Lines — Shares of
An artist’s illustration of the Axiom modules attached to the International Space Station. Axiom Space The National Aeronautics and Space Administration plans to retire the International Space Station by the end of this decade, so the U.S. space agency is turning to private companies to build new space stations in orbit – and expects to
Sac C Wat’hn Buy Thna Thwi Phl / EyeEm | EyeEm | Getty Images One of the biggest unknowns for retirees may be whether they’ll eventually need long-term care — that is, help with daily living activities — and to what degree. Many people may end up requiring little care if they need any at
A trader works on the floor at the New York Stock Exchange, August 27, 2021. Source: NYSE U.S. stock futures dipped in overnight trading Sunday after the Dow Jones Industrial Average turned in three straight weeks of losses for the first time since September 2020. Futures on the Dow shed 114 points, or 0.3%. S&P
In this article .KLSE TPGC-MY Shares of Malaysia’s Top Glove, the world’s largest medical glove maker, have fallen by more than 50% this year as the rollout of Covid-19 vaccinations worldwide dampened demand for gloves. “Like in every business, there’re always highs and lows. And you cannot expect super profits to continue for a long,
svetikd | E+ | Getty Images Millions of American families with kids have received three monthly payments since July totaling $45 billion through the new enhanced child tax credit. There’s a limited amount of time for families with eligible children to sign up if they didn’t get the checks automatically, likely because they don’t traditionally
An Amazon worker delivers packages amid the coronavirus disease (COVID-19) outbreak in Denver, Colorado, April 22, 2020. Kevin Mohatt | Reuters Though the markets are off from their highs, analysts believe that several companies still have room to grow. Innovations in point-of-sale technology, acquisitions of buy now, pay later firms, and trend shifts to cloud-computing
LightFieldStudios | iStock | Getty Images Two-thirds of wealthy business-owners accelerated their plans to retire or sell their business during the Covid pandemic, according to a new survey, reflecting the new psychological and financial landscape for business. Fully 66% of high-net-worth business owners said the pandemic pulled forward their plans to sell their business or
In this article UNM ACCD 788-FF TTWO IVZ MANU Check out the companies making headlines before the bell: Manchester United (MANU) – The soccer team operator reported a quarterly loss that was 5.9% narower than what it lost a year ago amid a 15.9% increase in revenue. Manchester United is not providing full-year revenue or
In this article PFE Top infectious disease expert Dr. Anthony Fauci responds to accusations by Sen. Rand Paul (R-KY) as he testifies before the Senate Health, Education, Labor, and Pensions Committee on Capitol hill in Washington, D.C., July 20, 2021. J. Scott Applewhite | Pool | Reuters Dr. Anthony Fauci defended the Food and Drug
You want your kids to have a healthy financial life, yet knowing how to help make that happen may leave you stumped. It may be especially hard if you have your own money struggles. Yet teaching them as early as possible can make a difference. “There’s a lot of misinformation out there that they will
NICHOLAS KAMM | AFP | Getty Images The uber rich may be cheering House Democrats’ proposed tax reforms on investment income relative to the Biden administration’s earlier plan. The White House called for a 39.6% top federal tax rate on long-term capital gains and dividends — nearly double the current 20%. Long-term capital gains tax
Signage outside a Chase bank branch in San Francisco, California, on Monday, July 12, 2021. David Paul Morris | Bloomberg | Getty Images LONDON — JPMorgan Chase is gearing up to debut its hotly anticipated digital bank in the U.K. next week. The move will see the U.S. banking giant take on major British lenders
SpaceX CEO Elon Musk poses with the crew before launch on September 15, 2021. John Kraus / Inspiration4 SpaceX CEO Elon Musk helped achieve the St. Jude Children’s Research Hospital fundraising goal of the Inspiration4 spaceflight, just hours after his company returned the crew from orbit. The main goal of the Inspiration4 mission, which launched
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