Charlie Eaton Courtesy: Charlie Eaton The odds of student loan forgiveness happening have never been greater, experts say. Yet a number of large obstacles stand in the way, some practical and others ideological. Does the president have the authority to cancel the debt? Officials at the U.S. Department of Education and the U.S. Department of
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In this article PSTH Bill Ackman, founder and CEO of Pershing Square Capital Management. Adam Jeffery | CNBC Company: Pershing Square Tontine Holdings, Ltd. (PSTH) Business: Pershing Square Tontine Holdings is a special purpose acquisition company (“SPAC”). The firm does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition,
A view of the driveway leading to the residence at 777 Sarbonne Road in Bel-Air, California. Joe Bryant / Aaron Kirman Group Seven is a magical number for one of Bel-Air’s priciest spec homes. The glass and marble palace located at 777 Sarbonne Road in Los Angeles hit the market last month with an asking
In this article IRSA3-AR Samuel Corum/Bloomberg via Getty Images Jeff Lavigne plans to use a tax refund this year for long-delayed medical help. Yet his refund, almost $2,700, has been in limbo since mid-March, when Lavigne filed his tax return, records show. The IRS flagged the return for potential identity theft — as it did
In this article PGR TRV ALL An employee at a used auto dealership treads water as he checks on vehicles they are moving out of the rising waters from two days of heavy rain in Lexington, Miss., Thursday, June 10, 2021. Rogelio V. Solis | AP Despite recent increases in auto insurance rates, the market
Icicles hang off the State Highway 195 sign on Feb. 18, 2021 in Killeen, Texas. Joe Raedle | Getty Images The threat of climate change is shifting some older Americans’ retirement plans. Extreme weather such as hurricanes, flooding, freezing temperatures and wildfires has prompted some to rethink where they will spend their golden years. “Clients
A pedestrian passes in front of 200 West Street, which houses the headquarters of Goldman Sachs Group Inc., in New York. Scott Eells | Bloomberg | Getty Images Goldman Sachs is making its U.S. employees report whether they’ve taken one of the Covid-19 vaccines, according to an internal memo sent this week. Employees must inform
Nearly half of millennial millionaires have at least 25% of their wealth in cryptocurrencies, as the crypto boom continues to create wealth for young, early adopters, according to the CNBC Millionaire Survey. Fully 47% of millennial millionaires surveyed have more than 25% of their wealth in cryptocurrencies, according to the survey of 750 investors with
Take a look at some of the biggest movers in the premarket: Snowflake (SNOW) – Snowflake shares fell 3.7% in premarket trading, following the cloud computing company’s presentation of financial targets at its Investor Day meeting. Snowflake set a target of reaching $10 billion in annual product revenue by 2029, compared to $554 million in
Dr. Peter Hotez warned that Southern U.S. states could feel the impact of the highly transmissible Delta Covid variant as early as this summer, due in part to low vaccination rates. “I’m really holding my breath about the South and what happens over the summer,” said Hotez, co-director of the Center for Vaccine Development at
The beach at Wildwood, New Jersey, on the Jersey Shore on May 27, 2021. Spencer Platt | Getty Images Certified public accountants have a message for New Jersey-based clients: It’s time to move to a lower-cost state. That’s according to a recent survey from the New Jersey Society of CPAs, which found that 70% of
In this article TSLA AMZN CNBC’s Jim Cramer on Friday suggested the U.S. impose a surtax on billionaires following this week’s ProPublica report on how some of the richest people on the planet are avoiding taxes. In recent years, billionaires including Amazon CEO Jeff Bezos, Tesla CEO Elon Musk, and businessman Michael Bloomberg, investors Carl
As some nuclear power companies continue to shut down nuclear reactors for reasons ranging from economic woes to safety concerns, Bill Gates is bullish on nuclear power as a clean energy solution to climate change. Gates, who is also an investor in nuclear power, told the Nuclear Energy Institute’s Nuclear Energy Assembly on Wednesday that
In this article PLAY ZM SNOW VRTX Signage is seen ahead of the IPO for Chewy at the New York Stock Exchange, June 14, 2019. Andrew Kelly | Reuters Check out the companies making headlines in midday trading. Snowflake – Shares of the cloud computing company dropped nearly 4%. The firm presented its financial targets
Bryson DeChambeau of the United States waves on the 13th green during the second round of the 2021 PGA Championship at Kiawah Island Resort’s Ocean Course on May 21, 2021 in Kiawah Island, South Carolina. Sam Greenwood | Getty Images Rory McIlroy remains the projected money king of golf, and Bryson DeChambeau is on the
Jack Taylor | Getty Images News | Getty Images Cryptocurrency is known for volatility and some experts say crashes tend to happen on weekends. “This has been a phenomenon in crypto for several years,” said Stephen McKeon, associate professor of finance at the University of Oregon in Eugene, Oregon, and partner at Collab+Currency, a cryptocurrency-focused
Financial services for cryptocurrency holders have been growing as a subset of the fintech industry for years. Now, crypto 401(k)s are entering the mix. A small 401(k) provider called ForUsAll is now allowing participants to allocate up to 5% of their retirement funds into cryptocurrency. The offering includes 50 different crypto assets including bitcoin, which
Today, William Tanuwijaya is a formidable force. As CEO of e-commerce site Tokopedia, the 39-year-old is one-quarter of the leadership of the newly- merged GoTo Group — Indonesia’s most valuable technology company. But his business may never have come to be if it weren’t for his determination in the face of critics. “Tokopedia’s story almost
Traders at the New York Stock Exchange, June 2, 2021. Source: NYSE U.S. stock futures were flat Thursday night after the S&P 500 hit a new high during regular trading, despite hotter-than-expected inflation data. Futures tied to the Dow Jones Industrial Average and the S&P 500 were close to flat at the start of the
Hall of Fame catcher Johnny Bench told CNBC that the headlines about pitchers using pine tar or other sticky substances on baseballs shouldn’t come as a surprise to fans. “Yes, they use pine tar, of course they use pine tar, everybody has used pine tar since I was a rookie in 1967,” said the former
Women would be among the biggest winners of student loan forgivness. Ines Fraile | iStock | Getty Images Certain critics of student loan forgiveness have argued that the policy would largely benefit the relatively well-off, pointing out that college degrees lead to higher earnings. However, new research finds that the biggest benefits of cancelling student
Reddit co-founder Alexis Ohanian told CNBC on Thursday that the meme stock frenzy — which traces its roots to the online forum website he helped create — is what happens when momentum investing is amplified by technology. “Really, the existence of people getting whipped up and excited about a stock has happened, you know, it’s
When it comes to fame and infamy, former Theranos CEO Elizabeth Holmes has apparently cornered the market. Internet sellers are cashing in on mugs, T-shirts and even shower curtains in the weeks before her criminal fraud trial starts in August. A review of online stores shows more than 50 listings of Holmes and Theranos merchandise
In this article AMC GME CLNE CLOV The WallStreetBets forum on the Reddit Inc. website on a laptop computer and the logo on a smartphone arranged in Hastings-On-Hudson, New York, U.S., on Friday, Jan. 29, 2021. Tiffany Hagler-Geard | Bloomberg | Getty Images The meme-stock mania created by the day-trading Reddit crowd fizzled a bit on
In this article RH Jason Kempin | Getty Images Entertainment | Getty Images Shares of the high-end furniture retailer RH surged in extended trading Wednesday after the company beat analysts’ profit and sales estimates for the fiscal first quarter. RH also hiked its full-year outlook, building on the momentum it’s seeing in the luxury home
Gary Jones, the newly-elected President of the United Auto Workers (UAW), addresses the 37th UAW Constitutional Convention June14, 2018 at Cobo Center in Detroit, Michigan. Bill Pugliano | Getty Images DETROIT – The immediate past president of the United Auto Workers was sentenced Thursday to 28 months in prison for his part in a scheme
Samuel Corum | Getty Images News | Getty Images The top 1% would see their federal taxes rise by more than $213,000, on average, next year as a result of President Joe Biden’s tax plan, according to an analysis published Wednesday by the Urban-Brookings Tax Policy Center. Such households, which earn about $800,000 or more
In this article CLOV CLNE VIRT The frenzied activity involving so-called meme stocks is being driven by more than just retail investors, the CEO of market maker Virtu Financial told CNBC on Wednesday. “There’s a lot of institutions, professional traders, speculators, whatever you want to call them, engaged in this in both the cash equities
The recent release of thousands of Dr. Anthony Fauci’s emails from the spring of 2020 revealed a lot about the early days of the pandemic. But it was also a fascinating glimpse into the White House chief medical advisor’s busy job. The sheer number of emails that Fauci receives and responds to in a day
Most people want to forget this part of the 1970s. But inflation is back, and investor Peter Boockvar predicts it will be the most widespread in decades. “Monetary policy … is right now impotent in its ability to stimulate economic activity,” the Bleakley Advisory Group chief investment officer told CNBC’s “Trading Nation” on Wednesday. Boockvar