Large banking institutions face the risk of failure if interest rates in Europe continue to stay negative, an economist told CNBC after the European Central Bank cut rates last week. “I think there are big questions to banking sector profitability,” global chief economist of the Economist Intelligence Unit, Simon Baptist, said Friday. The ECB on
Month: September 2019
Bob Bakish, the head of a newly combined CBS and Viacom, said those companies’ share prices aren’t rallying the way he hoped. “Clearly we’re disappointed with how the stocks are reacting,” Bakish told CNBC’s David Faber on “Squawk Alley” Tuesday. Bakish said he spent the past two weeks talking to investors and “making sure they
Many women are aware that a woman in the U.S. generally makes about 80 cents to each dollar a man earns. Much of that shortfall has been explained by criteria such as education and work experience — women are more likely to work part time and take time off over the course of their careers,
Late last July Jason Zweig and Andrea Fuller reported on the front page of The Wall Street Journal how CFP Board has failed at monitoring certificant listings at their LetsMakeAPlan.Org consumer referral website. Zweig and Fuller found certificants whose disclosure histories appeared clean on CFP Board’s site to have, among other causes for criminal felony
Skyline Tower, to the left of the Citigroup Building. Binyan Studio Queens will soon be officially taller than Brooklyn. Skyline Tower, a 67-story new development in Long Island City became the tallest building in its borough last week, surpassing the Citigroup Building, which stands at 673 feet. Once it reaches its full 762 feet, likely
Getty Nobody likes getting a tax bill in the mail. It’s especially concerning when your tax bill is a bit higher than you anticipated. But what happens when it’s hundreds of millions of dollars more than you were expecting? Just ask Donna Smith from Aurora, Colorado. Smith, a part-time worker at a local thrift store,
CNBC’s Jim Cramer says it’s not worth it to try and game the market after Federal Reserve Chief Jay Powell announces the agency’s monetary policy plan on Wednesday. The “Mad Money” host takes a look at chart action, which suggests that Apple and Microsoft’s stocks could soon be ready to pop. He sits down with
Jeffrey Gundlach speaking at the 2019 SOHN Conference in New York on May 6th, 2019. Adam Jeffery | CNBC DoubleLine CEO Jeffrey Gundlach believes the bottom for interest rates is in for 2019. Growing fears about a possible global economic slowdown prompted Treasury yields to hit their historic lows a few weeks ago. The so-called
Simon Dawson | Bloomberg | Getty Images Saudi oil production will be fully back online by the end of September, the kingdom’s Energy Minister Prince Abdulaziz bin Salman told media during a press conference in Jeddah on Tuesday, sending oil prices down by nearly 6% just a day after their biggest jump in history. The
It’s the night before a school field trip, and your son or daughter suddenly remembers they need cash for the next day. Do you have the money in your wallet? Or do you need to make a light-night stop at an ATM or have another child temporarily lend them the money? Nicholas Prior | Getty
null Getty Last week, I promoted, in contrast to Elizabeth Warren’s Social Security plan, a basic retirement income. That’s not a pipe dream. In various other developed countries, it’s a perfectly normal way to provide Social Security benefits. So let’s take some examples from the world of state retirement systems outside the United States, drawing
Dandelion Energy CEO Kathy Hunnan Dandelion Energy Heating and cooling a home can have a big affect on the environment. The average American house, after all, emits 6,400 pounds of carbon monoxide per year using natural gas, and 4,700 from an electric system. To combat this problem, the New York-based company Dandelion Energy uses geothermal
Calvin Johnson’s recent paper A Wealth Tax is Constitutional, 38 ABA Tax Times No. 4 is timely as my senator, Elizabeth Warren’s proposal for a wealth tax of 2% on fortunes over $50 million and 3% on fortunes over $1 billion is attracting a lot of attention. I don’t know what the source of those percentages is although
An interview and Q&A with billionaire activist investor and founder of Elliott Management Corporation, Paul Singer, and billionaire Private Equity titian and co-founder of The Carlyle Group, David Rubenstein. In this interview, the gentlemen discuss their thoughts on the US economy and the impact of monetary policy on inequality. They also talk about the path
Shoppers look over merchandise at an American Eagle Outfitters Inc. store in San Francisco, California. David Paul Morris | Bloomberg | Getty Images Brick-and-mortar stores may have a surprising saving grace: the teen shopper. According to a new survey by A.T. Kearney, consumers ages 14 to 24 overwhelmingly prefer to do their shopping in stores,
Robert Bakish, chief executive officer of Viacom International Media Networks, speaks during a Bloomberg Television interview at the Mobile World Congress in Barcelona, Spain, on Tuesday, March 3, 2015. The event, which generates several hundred million euros in revenue for the city of Barcelona each year, also means the world for a week turns its
Bill Gates Chesnot/Getty Images Bill Gates is not taking a defensive approach with his billions of dollars of wealth. The founder of Microsoft added $16 billion to his net worth this year, despite giving away over $35 billion to charity, according to Bloomberg. That brings Gates’ total wealth to $106 billion, the second largest fortune
An employee wears an orange Home Depot Inc. apron at a store in New York. Mark Kauzlarich | Bloomberg | Getty Images Home Depot‘s massive investment plan is preventing margin expansion, according to Guggenheim. The firm downgraded the home improvement retailer’s stock to neutral and removed its $230 price target. “We find it difficult to
Personal finance website WalletHub has ranked 182 U.S. cities for their “fun” factor, weighing entertainment, recreation and nightlife options against local costs. Fun is no joke when it comes to household budgets. According to the Bureau of Labor Statistics, the average American spent $3,226 on entertainment in 2018, a 0.07% rise over 2017. From 2016
Saving for the future and planning for retirement can be extremely daunting. You might feel frozen and unable to do everything you want to improve your situation. However, taking advantage of simple financial strategies today (e.g., automating your savings, cutting current expenses and saving raises) could significantly improve your future. If you’re looking for more
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