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Treasury Secretary Janet Yellen testifies during a Senate Banking, Housing and Urban Affairs Committee hearing on the CARES Act, at the Hart Senate Office Building in Washington, DC, U.S., September 28, 2021. Matt McClain | Reuters Congress faces an Oct. 18 deadline for raising the U.S. debt ceiling. If it is not increased by that
ESG investing, or when a company’s environmental, social and governance factors are evaluated, is booming, and a panel of sustainability-focused investors said the trend is only going to accelerate from here. Climate change “is a mega-trend that if you take advantage of it, and get ahead of it, it’s going to be an alpha generator
Private jet fliers are facing increasing delays, cancellations and lack of available flights as the industry struggles to serve a record number of new fliers, while facing supply-chain troubles. July was the busiest month ever for private jet flights, with more than 300,000 flights, according to Argus International. While business usually cools in the fall,
In this article DIS REGN UAL LUV PENN Check out the companies making headlines in midday trading. Merck — Shares surged more than 9% after it announced its new antiviral pill cut the risk of death or hospitalization by 50% for Covid patients. The pharmaceutical company plans to file for emergency use authorization. Moderna, Regeneron —
California Gov. Gavin Newsom speaks during a news conference after meeting with students at James Denman Middle School on October 01, 2021 in San Francisco, California. Justin Sullivan | Getty Images California will require students attending school in person to get vaccinated for Covid-19 following full approval by the Food and Drug Administration, Gov. Gavin
Prostock-Studio | iStock | Getty Images As teenagers navigate matters of love and money, a troubling percentage of young relationships are showing signs of financial abuse. Some 31% of U.S. teens aged 13 to 18 have flagged the signals of financial abuse — which may be controlling a partner’s ability to receive, spend or save
In this article NTRS Yie-Hsin Hung, New York Life Investment Management CEO CNBC Inflation will persist and add risk to the market, but one asset class could be a long-term ride, Yie-Hsin Hung, chief executive of New York Life Investment Management, said Wednesday. “Interest rates and inflation are going to persist at levels above what
Very few people self-identify as upper middle class or wealthy — even if, by the numbers, their income or net worth puts them in that category. Only 1% of Americans consider themselves upper class, according to a 2015 Pew survey, and just 6% of those earning $100,000 or more say they fit this category. According
Upgrade CEO Renaud Laplanche speaks at a conference in Brooklyn, New York, in 2018. Alex Flynn | Bloomberg via Getty Images U.S. fintech start-up Upgrade is set to enter the increasingly crowded buy now, pay later market. Upgrade, which was founded by former LendingClub boss Renaud Laplanche in 2016, is a digital banking start-up that
SINGAPORE — Rising Covid-19 infections and deaths are testing Singapore’s long-term strategy of treating the coronavirus as endemic. Around 82% of the city-state’s population has been fully vaccinated, health ministry data showed. But a surge in Covid cases — the vast majority of which have no or mild symptoms — prompted the government to tighten
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
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.