Five billion dollars. That’s how much Facebook will have to fork over to the government under a settlement with the Federal Trade Commission. It’s the biggest fine for violating user privacy by a wide margin – 200 times bigger than the previous record, according to the FTC chair. But some are already saying the settlement
Month: July 2019
Brian Moynihan, CEO, Bank of America Scott Mlyn | CNBC Here are the biggest calls on Wall Street on Friday: KBW upgraded Citi, Goldman Sachs, and Bank of America to ‘outperform’ from ‘market perform’ KBW said the three banks are best positioned to benefit from an “extended” economic cycle. “We are upgrading shares of Citigroup,
The Internal Revenue Services offices in Washington, D.C. Adam Jeffery | CNBC If you’ve been trading or mining cryptocurrency, the Internal Revenue Service is about to come knocking. The IRS on Friday announced that it’s sending letters to more than 10,000 taxpayers with virtual currency transactions who have potentially failed to report income and pay
The LA Pride #Resist March on June 11, 2017, in West Hollywood, California Gabriel Olsen | FilmMagic | Getty Images Cities are beginning to see the effects of allowing diverse business owners to come in and be a part of their communities. The city of Los Angeles will be the largest municipality, by both population
Those of you still seeking the magic recipe to spectacular stock market success, boy have you (not!) come to the right place. Well, come to think of it, maybe you have, if the past is any guide. As Jimmy Buffett – may I dub him the Oracle of Cayo Hueso? - once said, “indecision may or
A study finds private equity firms have wiped out more than 1.3 million in direct or indirect retail jobs in the past 10 years. (Photo by Scott Olson/Getty Images) Getty Images Amazon may often be the go-to scapegoat and blamed for retail industry woes of different kinds, but a study finds that the real culprit
Share to facebook Share to twitter Share to linkedin Congress is once again trying to impose a carbon tax on the American people, with multiple bills coming from both Democrats and Republicans. It must be understood that a carbon tax would be one of the most regressive taxes the United States has ever seen. A Tesoro
Check out the companies making headlines before the bell: Twitter – Twitter reported adjusted quarterly profit of 20 cents per share, beating forecasts by a penny a share. Revenue exceeded estimates, as well. Twitter also reported 139 million monetizable daily users, more than the 135 million than analysts had anticipated. Amazon.com – Amazon reported quarterly
McDonald’s worker prepares french fries to go. Getty Images McDonald’s will be reporting earnings before the bell Friday. The company’s stock, which has a market value of more than $165 billion, is up 20% so far this year. Here’s what Wall Street is expecting, according to analysts surveyed by Refinitiv: Earnings per share: $2.05 expected
USAA Financial Center Source: USAA | Facebook Charles Schwab on Thursday announced plans to acquire assets of USAA’s Investment Management Co., including brokerage and managed portfolio accounts, for $1.8 billion in cash. The companies have also agreed to a long-term referral agreement, effective at closing of the acquisition, that would make Schwab the exclusive wealth
Justin Sun Yuchen, founder of Tron and CEO of BitTorrent, speaks during Ifeng Finance Summit at China World Summit Wing on November 4, 2015 in Beijing, China. (Photo by Jiang Xin/VCG via Getty Images) Jiang Xin | VCG | Getty Images Who would’ve thought Warren Buffett‘s charity lunch this year would involve kidney stones, a
Robert Exley, Jr., a CNBC staffer, now and at some possible future time. Robert Exley, Jr. | CNBC It’s fun, it’s Russian, it’s potentially dangerous. FaceApp, the amusing smartphone app that gives you a sense of what you might look like in 20, 30 or 40 years, can also help you better save for retirement.
As most people at retirement age are looking at a few chronic health conditions, it isn’t surprising that most are taking medications. According to astonishing 87 year old Ann Kahl, a fitness guru in Florida, we’re using these drugs to do what we ought to be doing ourselves in many cases, just by being more
Customers shop at a Home Depot store in Chicago, Illinois. A shortage of single-family homes for sale in the U.S. is driving up home prices and causing many home owners to renovate rather than move, which is driving up earnings and stock prices for Getty Images Amid the shuttering of many brick-and-mortar stores and slow
A burned European Union (EU) flag. Photographer: Konstantinos Tsakalidis/Bloomberg photo credit: © 2015 Bloomberg Finance LP © 2015 Bloomberg Finance LP There’s an eerie but placid tone in current U.S.-Europe relations. Investors should view it as the calm before the storm that could eventually wreak havoc across global financial markets. “It seems most likely that tensions
The consumer and industrial economies are telling conflicting tales this earnings season, and it could be enough to trigger a change in Federal Reserve policy, CNBC’s Jim Cramer said Thursday. “The industrial economy is so weak that [Fed Chair] Jay Powell now has plenty of ammo to justify cutting interest rates,” he said. “And if
Starbucks raised its full-year earnings and revenue forecast Thursday after more customers returned to cafes in the U.S. and China for pricier drinks. Shares of the company jumped 5.8% in extended trading. The coffee chain’s stock, which has a market value of $110.2 billion, is up 41% so far this year. “Our two targeted long-term growth markets,
People walk past the Public Credit Information Service Hall in Suzhou, China, on May 6, 2019. Suzhou was one of several places chosen in 2018 by the Chinese government to run a social credit trial, which can reward or punish citizens for their behavior. Qilai Shen | Bloomberg | Getty Images The Chinese government is
On Wednesday, a big trader, perhaps the infamous trader know as “Fifty Cent” (named for his/her propensity to buy VIX call options worth 50 cents), bought some 261,000 VIX calls at the August 21st expiry 20 strike calls. (The CBOE Volatility Index is called the stock market’s fear gauge, tracking the price of options on
Adrian Peterson Wesley Hitt | Getty Images Adrian Peterson will likely earn close to $100 million over the course of 12 seasons in the NFL. Now, he’s battling creditors in court over millions in unpaid loans. The Washington Redskins running back is making headlines again over a state supreme court case in New York. DeAngelo
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