The Fed is about to take the unusual step of cutting interest rates to save an economic expansion, not an economy that seems set to be headed into a downward spiral. The Federal Open Market Committee, at the end of its two-day meeting Wednesday, is widely expected to announce a quarter point rate cut, its
Charges against Jeffery Epstein were announced on July 8, 2019 in New York City. Epstein will be charged with one count of sex trafficking of minors and one count of conspiracy to engage in sex trafficking of minors. Stephanie Keith | Getty Images News | Getty Images A day before accused child trafficker Jeffrey Epstein
Mario Gabelli Scott Mlyn | CNBC Shares of RPC, Inc., a small oil and gas company based in Atlanta, jumped following positive comments from billionaire investor Mario Gabelli. “I’ve been following it for 50 years,” Gabelli told CNBC’s “Halftime Report ” of the stock, which closed Monday at $5.54 a share. “If you look at
Ariel Skelley | DigitalVision | Getty Images The CFP Board of Standards, the group overseeing the Certified Financial Planner credential, will overhaul its practices, making it easier for investors to spot financial advisors with a questionable past. In a Tuesday afternoon phone call, the group announced it would establish an independent task force to review
Will interest rates really get the chop everyone thinks they will as 2019 rolls into the home stretch? The smart money certainly thinks it knows. Beyond tomorrow’s rate cut (which the pros see as all but in the can), futures traders predict two more chops—in September and December. But here’s something no one will tell
Minted x Samsung Lyrical by Sarah McInroe Minted In recent years, television technology has rapidly improved. Screens are clearer and larger. Colors are truer and brighter. Units are thinner and designed to be to less obtrusive. But no matter which make and model you choose, whether it is sitting on top of an entertainment center
Trump’s trade wars are hurting the economy. Getty “Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat.” Sun Tzu ‘The Art of War (Sunzi Bingfa)’ Sun Tzu Harvard Business Review Last year I wrote several pieces about the potentially negative effect of Trump’s trade wars on companies,
President Donald Trump speaks to the media before departing the White House en route West Virginia in Washington, July 24, 2019. Mary F. Calvert | Reuters President Donald Trump is working on a proposal that would allow the United States to import drugs from Canada, Health and Human Services Secretary Alex Azar told CNBC on
Apple has had a strong 2019 so far, with the stock up more than 45% since the company hit a low after it announced a revenue shortfall on January 2. The iPhone maker continues to mint money, too, and has guided that it will book at least $52 billion in revenue when it reports earnings
A woman holds her Green Dot prepaid debit card in Monrovia, Calif. Damian Dovarganes | AP Branchless bank Green Dot is launching the highest yielding bank account in the industry. The Pasadena, California-based bank, which gained traction with prepaid cards in the dot-com era, launched a new bank account Tuesday with 3% annual interest on
Sir Richard Branson is honored with star on the Hollywood Walk of Fame on October 16, 2018 in Hollywood, California. Axelle/Bauer-Griffin | FilmMagic | Getty Images Fulfilment does not come from material possessions, billionaire Richard Branson said in a new blogpost, claiming he “never set out to make money.” “I truly believe that ‘stuff’ really
Traders work on the floor of the New York Stock Exchange (NYSE) on February 6, 2018 in New York City. Spencer Platt | Getty Images News | Getty Images The Federal Reserve is expected to cut rates this week for the first time since 2008, potentially giving investors the green light to play offense. CNBC
Collectively, Americans owe more than $1 trillion in credit card debt. Despite the strong preference for plastic, that burden is not felt across the board. Residents in some states are faring better than others when it comes to paying down their balances, according to a new report by WalletHub. Using the median credit card balance
Would you prefer to receive $1,000,000 or a magical penny that doubles in value for 31 days? This question is the basis for some of my favorite lessons when I’m teaching personal finance workshops to undergrads, grads, and employees. Let’s see if you can guess the answer too! The Magical Penny DepositPhotos Wandering on the street one
Weather prediction is getting much better. Now, innovative companies are spinning that increased capability into lucrative new business models. ClimaCell, featured in a July 24 Forbes story, combines data analytics, traditional inputs and the analysis of signals beamed between cellular towers to predict local weather six hours in advance. The dark clouds. The sky in black. Pattern
It’s not enough to pick the right funds; you must also consider the type of account the asset will be located in. Getty All else equal, we all want to pay as little tax as legally possible. For do-it-yourself investors, one of the biggest challenges is choosing which funds to invest in. Unfortunately, fund selection is
Starbucks was able to engineer a top- and bottom-line beat in its latest quarter report thanks to the moves that tech veteran and CEO Kevin Johnson made to line up customers up for coffee, CNBC’s Jim Cramer said Monday. The ubiquitous coffee chain saw it stock price surge to surge to near $100 after raising its
Airwallex’s cofounders, from left to right, Xijing Dai, Lucy Liu, Jack Zhang and Max Li. Airwallex When Jack Zhang and Max Li were looking for a side-hustle to supplement their day jobs, they did like good Melbournites and opened a coffee shop. It seemed like an easy choice for two Chinese natives keen to assimilate
A man carrying a box leaves a Deutsche Bank office in London, Britain July 8, 2019. Simon Dawson | Reuters Deutsche Bank shocked the world this month when it announced its retreat from equities trading. It won’t be the last investment bank to give up on the stock market. As laid-off employees were photographed trudging
If you work at a small business and don’t have access to a 401(k) savings plan, that could soon change. The Labor Department on Monday released a final rule that’s intended to make it easier for the nation’s smaller firms to band together to offer 401(k) plans to their workers. The move comes about a