Brian Moynihan, Bank of America, speaking at the WEF at Davos, January 21, 2020 CNBC Bank of America is scheduled to report fourth-quarter earnings before the opening bell on Tuesday. Here’s what Wall Street expects: Earnings: 55 cents a share, 26% lower than the year-earlier period, according to Refinitiv. Revenue: $20.7 billion, 8.1% lower than
Month: January 2021
David Solomon, CEO, Goldman Sachs, speaking at the World Economic Forum in Davos, Switzerland, Jan. 23, 2020. Adam Galacia | CNBC Goldman Sachs reported fourth-quarter earnings before the opening bell on Tuesday. Here are the numbers: Earnings: $12.08 a share, vs. $7.47 per share expected, according to Refinitiv.Revenue: $11.74 billion, vs. $9.9 billion estimate. Expectations
Janet Yellen’s journey to become the first female Treasury secretary in U.S. history moved smoothly through a critical Senate hearing Tuesday, with a vote on her confirmation likely to happen before the end of the week. An audience of mostly friendly legislators questioned Yellen across a variety of topics, from taxation to China to climate
pedrosala | iStock | Getty Images President-elect Joe Biden’s ascension to the presidency will encourage more renewable energy projects in the U.S. International investors are taking note. Greencoat Capital, a global renewables investment manager with $8 billion in assets under management, just announced its first U.S. investment after eight years operating across the U.K. and
Leon Cooperman Scott Mlyn | CNBC Billionaire investor Leon Cooperman told CNBC on Wednesday he believes the stock market will struggle to generate meaningful returns in the years ahead, following its robust recovery from pandemic-era lows in the last 10 months. “I think the near-term outlook is probably OK. Long term, I think that we’re borrowing from
The U.S. stock market could roar higher if President-elect Joe Biden is able to smooth out the country’s rocky start to Covid vaccinations, CNBC’s Jim Cramer said Wednesday, just a few hours before the Democrat is sworn into office. “It’s pure chaos. I predicted it would be pure chaos. I never thought it would be
Jernessa Jones, 39, and her son Kyan Blair, 5, at graduation. Jones graduated with her master’s degree in business administration at the same time Blair graduated from preschool. Jernessa Jones’ next financial goal is twofold – to buy a house and begin to build generational wealth for her 5-year-old son, Kyan Blair. In the last
Democratic candidates for Senate Jon Ossoff (L), Raphael Warnock (C) and US President-elect Joe Biden (R) bump elbows on stage during a rally outside Center Parc Stadium in Atlanta, Georgia, on January 4, 2021. Jim Watson | AFP | Getty Images Wealthy Americans worried about the prospect of higher estate and gift taxes might have
Chad Springer | Image Source | Getty Images 1. Recognize you are anxious or stressed Pay attention to your body and your emotions. Are you breathing faster? Are you more rushed? Once you recognize you are anxious or stressed, it may help to take a moment and a few breaths before you make a decision,
DEA / M. BORCHI | De Agostini | Getty Images Waiving PUA overpayments “It’s up to the states,” said Andrew Stettner, a senior fellow at the Century Foundation. “I am hoping [they] will seek to follow the idea that there are a lot of mistakes made with PUA.” Most states do waive overpayments made through
In his first days in office, President-elect Joe Biden plans to sign an executive order to reopen schools. However, it’s not just a matter of federal funding. Vaccinating teachers remains one of the biggest hurdles to returning kids to classrooms. As Covid-19 cases spike across the country, the Centers for Disease Control and Prevention have prioritized
Lev Radin/Pacific Press/LightRocket via Getty Images The state would raise the top tax rate to 10.86%, up from 8.82%, Cuomo said. That would yield a top rate of 14.7% for the wealthiest New York City residents in combined taxes. “[It] would be the highest income tax in the nation,” Cuomo said. This is a developing
A customer purchases Powerball lottery tickets for a $700 million jackpot at a newsstand in New York City, August 23, 2017. Brendan McDermid | Reuters The Mega Millions jackpot has continued its march toward $1 billion. With no ticket matching all six numbers drawn Tuesday night, the top prize is now an eye-popping $970 million
Protestors call for McDonald’s Corporation to raise wages to a $15 minimum and allow unionization in Fort Lauderdale, Florida, on May 23, 2019. Joe Raedle / Getty Images With Joe Biden’s inauguration as President of the United States, the country is perhaps closer than ever to a $15 federal minimum wage. In a speech last
WASHINGTON, DC – DECEMBER 20: Senate Minority Leader Chuck Schumer (D-NY) listens as Speaker of the House Nancy Pelosi (D-CA) speaks during a press conference on Capitol Hill on December 20, 2020 in Washington, DC. Republicans and Democrats in the Senate finally came to an agreement on the coronavirus relief bill and a vote is
Stefani Reynolds/Bloomberg via Getty Images ‘Potentially erroneous’ QBI deductions The IRS allowed business owners to claim $57 million in “potentially erroneous” deductions on 12,980 tax returns filed last year, according to a report publicly released Tuesday by the Treasury Inspector General for Tax Administration. The watchdog urged the tax agency to increase its oversight of
What is a Swap Power and Why do you Care? A “swap power” is also called a “power to substitute.” It is a special right reserved to you (or someone else) in a trust you create while you are alive. This right gives you the power to swap an asset of yours, say cash, for
Corporate Profits Quickly Recovered From the Initial Shock. getty The country is experiencing two quite different paths since it plunged into a recession in the spring of 2020. Many families struggle with widespread and increasing job losses, long-term unemployment, more debt, hunger, poverty and the threat of evictions among a surging pandemic. In contrast, corporations
getty The $15 minimum wage, on the agenda of activists for upwards of a decade and now a part of President-Elect Biden’s covid-relief plan, is, depending on who you listen to, either a boon to workers or the source of substantial lost jobs. After all, a CBO analysis from 2019 concluded that both effects would
getty There are three risks that are most likely to derail retirement plans. The risks are real and substantial, almost regardless of an individual’s net worth. Fortunately, the potential damage from the risks can be reduced. Longevity risk is talked about a lot by economists and financial advisors but not by many retirees and pre-retirees.
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