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
Business owners coming to terms with their retirement reality. Getty In many countries, retirement benefits are a privilege. But when that golden age arrives, not everyone is prepared to put down their tools and head off to the life of blissful relaxation enshrined in minds of many. This fact is becoming painfully apparent among Baby
Beachfront terrace at 32 Windmill Lane. Gavin Zeigler for Sotheby’s International Realty The East Hampton estate built and owned by James H. Evans, former chairman and CEO of rail giant Union Pacific, is on the market for $60 million. The roughly 6.7-acre, two-lot property at 32 Windmill Lane is now second on the list of
Today, the House Ways and Means Committee held its fourth and likely final hearing on the Social Security 2100 Act, a proposal to expand Social Security benefits that has 210 Democratic sponsors and is likely to pass the House in the autumn. That hearing will itself be largely uninformative: House Democrats have yet to call
Juul founders Adam Bowen and James Monsees. Jeniece Pettitt I CNBC Juul co-founder James Monsees defended the company in a Congressional hearing on Thursday where lawmakers grilled him over the company’s role in allegedly fueling a teen vaping “epidemic.” The House Committee on Oversight and Reform’s Economic and Consumer Policy subcommittee is scrutinizing Juul’s advertising,
Ruth Porat, Alphabet CFO Adam Galica | CNBC Entering its second-quarter earnings report on Thursday, Alphabet’s in a bit of a slump. The stock has dropped almost 10% in the past three months, leaving it up only about 9% for the year, dramatically underperforming its mega-cap tech peers and the benchmark S&P 500, which is
A man passes a Louis Vuitton store in Macau, China, on Friday, Dec. 10, 2010. Daniel J. Groshong | Bloomberg | Getty Images The impact on earnings from the slowdown in China and the ongoing trade war is not uniform. Halfway through the earnings season, company reports show the much-feared collapse in guidance for the
Adrian Peterson #26 of the Washington Redskins looks on after being tackled by the Philadelphia Eagles during the first half at FedExField on Dec. 30, 2018 in Landover, Maryland. Scott Taetsch | Getty Images Sport | Getty Images Professional athletes suddenly striking it rich and then precipitously losing it all is a tale familiar to
A woman enters Bear Stearns headquarters in New York, March 14, 2008. Daniel Acker | Bloomberg | Getty Images A former trader at Scotia Capital and Bear Stearns pleaded guilty Thursday to a federal crime and admitted manipulating precious metals markets for nine years — the latest in a series of crackdowns in the commodities
Allison Shelley | Getty Images News | Getty Images A congressional debate on a bill to reform Social Security has turned to a key question: whether changes made to the system today will upend millennials’ retirement in the future. A committee hearing of the House Ways and Means Committee on Thursday focused on the potential