Financial technology startup Robinhood is re-launching a new savings account plan that came under withering scrutiny from regulators, and drew accusations about potentially misleading investors. In a blog post released Friday, Robinhood’s founders acknowledged that its new plan, which aimed to offer no-fee checking and savings accounts with no minimums, ATM fees, penalty charges or
0 Comments
The Trump administration announced on Thursday that it will automatically cancel $150 million in student debt. Some 15,000 former students, whose schools closed while they were in attendance, will now have their debt erased. The department estimates that the forgiven loans will add up to around $150 million. “For them, it’s going to be a
0 Comments
Pessimism among investors shouldn’t deter people from carefully buying shares of high-quality companies that have endured massive declines, CNBC’s Jim Cramer said Friday after a widespread sell-off in the stock market. On Thursday, survey results from the American Association of Individual Investors showed that pessimism among retail investors was at its worst in some 5½
0 Comments
President Donald Trump late Friday applauded a federal judge’s ruling in Texas that ruled former President Barack Obama’s signature health-care law was unconstitutional, and called on Congress to replace the current mandate with a new bill. U.S. District Court Judge Reed O’Connor of Texas issued the decision, declaring that key portions of the legislation were
0 Comments
This morning Reuters published a story charging that Johnson & Johnson knew back in 1971 that “its iconic baby power sometimes contained asbestos and failed to alert authorities.” The story also cited a Missouri court of 22 women who said their use of baby powder “caused them to develop ovarian cancer.” The stock market reacted
0 Comments
Traders from across the U.S. are banding together to accuse J. P. Morgan Chase of manipulating precious metals markets for years. At least six lawsuits, all making similar allegations against the nation’s largest bank, have been filed in New York federal court in the past month, since federal prosecutors in Connecticut unveiled a plea agreement
0 Comments
China on Friday reported industrial output and retail sales growth for the month of November that missed expectations, data from the National Bureau of Statistics showed. Industrial output in November grew 5.4 percent from a year ago, lower than the 5.9 percent analysts in a Reuters poll predicted. That figure was 5.9 percent in October.
0 Comments
The more pressing crisis facing higher education in America is not the $1.5 trillion in student debt but the dismal graduation rates, Arizona State University President Michael Crow told CNBC on Thursday. “It’s a completion crisis, not a debt crisis,” Crow said in a “Squawk Box” interview. “If you finish with a little debt, you’re
0 Comments
Check out the companies making headlines after the bell: Tailored Brands shares fell more than 25 percent after market-close as the retail company missed revenue expectations. The company owns brands such as Men’s Wearhouse and Joseph A. Bank. The company reported $813 million in revenue, missing projections of $820 million. However, it beat earnings, reporting
0 Comments