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
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The open enrollment period for people to sign up for health insurance next year through the Affordable Care Act ends Saturday in most states, and signups are significantly down from last year. While President Donald Trump didn’t repeal and replace former President Barack Obama‘s signature health-care law, more commonly known as Obamacare, he was able
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
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
AWS CEO Andy Jassy talks about new features in Amazon’s cloud, responds to moves from rivals, and gives an assessment of how far the industry has to go in the cloud era. CNBC’s Jon Fortt brings you closer to the entrepreneurs and executives who are crafting the future in technology and beyond. Fortt Knox is
The Fed may not be able to turn the tide for the stock market in the week ahead, but it could soothe some of the wild volatility that has been crushing stocks since October. The Fed is expected to raise interest rates Wednesday by a quarter point, and the pressure is on for Fed Chairman
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
If you want to park your money in a safe place amid current market volatility, there’s one thing you absolutely need to do. Check what kind of protection the financial institution holding your money has. This bubbled up as an issue this week on the news that Robinhood, an online stock trading app, announced that
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
John Chen has revamped BlackBerry’s business, much as he did with Sybase before. He’s a longtime enterprise technology CEO and serves on Disney’s board. This was the first time we’ve spoken about what he had to go through to succeed — and the road wasn’t easy. Fortt Knox is a weekly podcast from CNBC anchor
The head of the nonprofit insurer that protects investors from losses in the event a brokerage fails said Friday he was as surprised as anyone to hear about Robinhood’s plans to offer checking and savings accounts for 3 percent interest. SIPC President and CEO Stephen Harbeck told CNBC he has serious concerns about the plan,
One year after forming a team to develop shopping specific features, Facebook’s Instagram is now beginning to develop analytics tools that brands could eventually use for ad targeting. Instagram last month introduced a tool that lets users bookmark products they find on the social network. Now, Instagram is working on an insight tool that will
Anyone carrying burdensome credit-card debt knows how those zero percent (or low-rate) balance-transfer options can feel like a lifeline. And if you approach them right, they can help you hack away at your debt much faster and reduce how much you pay in interest. Yet more than 40 percent of consumers who take advantage of
The bank stocks and the oil plays are so beaten-up that CNBC’s Jim Cramer can’t recommend them to investors, even as his positive long-term outlook for the sectors is still intact, he said Thursday. “If you own the oils or the banks, it’s hard not to feel like an idiot,” he said Thursday on “Mad
Panera had a problem. At lunchtime, customers were mobbing the counters to order their food and pick it up, causing chaos. It was frustrating for everyone involved, and management knew that it was probably costing the company sales. Panera turned to Blaine Hurst to lead the search for a solution. As the company’s chief technology
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
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.
How you handle your 401(k) savings depends a lot on how much you earn. And if you’re middle income — earning between $40,000 and $85,000 — you’re more likely to take a loan from your 401(k) or other workplace retirement plan, according to new research from J.P. Morgan Asset Management. Individuals who fall in that
Medellin is a cosmopolitan city with a neighborhood feel. Set in the middle of the Andes Mountains, Colombia’s second-largest city is known as the City of Flowers. Medellin is always in bloom and offers high-end living for significantly less than it would cost in the U.S. Aaron Brabham found exactly what he wanted. “I’m really
Facebook, Amazon and Twitter are J.P. Morgan’s top three tech stock picks for 2019. “We expect Facebook to operate its way up the wall of worry in 2019,” said Doug Anmuth, the bank’s internet analyst, in a note to clients on Thursday. Amazon also made his list of “best ideas for 2019” as the analyst
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
The stock market is all wrong about technology stocks — but not in the way you may think. It can be hard to follow investors’ on-again, off-again love affair with technology stocks. In the short term, the market is parsing every detail about trade, inventory levels, and data security, sending tech stocks on a volatile
English soccer is looking for a new chief executive after its incumbent Martin Glenn announced that he’s to step down from the job in May 2019. Glenn will have been in the role for four years and can point to a record that has seen England’s Football Association (The FA) see a 40 per cent
We’re not all accountants. We don’t all hire one each year at tax time, either. But with the IRS updating tax brackets for 2019, along with other changes that are part and parcel of the new Tax Cuts and Jobs Act, it’s important for all taxpayers to get handle on America’s new tax reality. This
Shares of Facebook could be nearing a trough as Instagram continues to attract advertisers and the company adds to its share buyback program, CNBC’s Jim Cramer said Wednesday. “I think Facebook, the stock, is ready to bottom. Maybe it already has. Maybe it can go higher” as more and more retailers pour money into advertising
Phones are getting huge. Tablets are tweeners. PCs are on the uptick. Microsoft just announced a new lineup of its Surface PCs and tablets and HP unveiled a leather laptop, so it’s a good time to ask: What’s right for you? What’s the difference between spending less than $1,000 or more than $2,000 on a
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
Digital media is becoming the best vehicle for retailers to get more traffic to their stores and websites, and that’s brightening the outlook for the stock of embattled social media giant Facebook, CNBC’s Jim Cramer said Wednesday. “When you listen to the retailers that have reported lately, they all sing the same tune: the time
Here’s a worthwhile resolution for the new year: Ask your boss for a raise. More than 60 percent of workers said they did not get an increase in their pay in 2018, nor did they seek a better paying job, according to a poll from Bankrate.com. The personal finance website polled 1,000 individuals by phone
Investors concerned about the volatile market may have some relief ahead, according to technical analyst Katie Stockton. She told CNBC on Wednesday that she sees “very bullish” signs in the S&P 500 chart. If the index doesn’t dip below 2,640 this week, it should be an all-clear for stocks to rally, she said on “Closing
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