Hiroshi Watanabe | Getty Images You’re probably already aware that wealth in America is a tale of haves and have-nots. But new research shows just how big the disparity is in 401(k) plan accounts — workplace retirement savings plans that were created to help all individuals get ahead. There are two main reasons why the
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A General Electric (GE) sign is seen at the second China International Import Expo (CIIE) in Shanghai, China November 6, 2019. Aly Song | Reuters General Electric shares rose after a new analyst at UBS assumed coverage on the troubled conglomerate with a buy rating. “We believe the stock is at a positive inflection point
As an airliner prepares to land, a bird takes off at the Gravelly Point park that’s just off the end of the runway near Reagan National Airport. Michael S. Williamson | The Washington Post | Getty Images Delta Airlines is taking a minority stake in private aviation start-up Wheels Up, in a move that establishes
Sen. Elizabeth Warren, as well as three other Democratic Presidential hopefuls Sen. Kirsten Gillibrand, Gov. Jay Inslee and react to questions during the Daily Kos/Netroots Nation candidate forum, at the Convention Center in Philadelphia, PA, on July 13, 2019. Bastiaan Slabbers | NurPhoto | Getty Images A new study from the University of Pennsylvania’s Wharton
A Lululemon sign hangs in front of their store at the Woodbury Commons Premium Outlets shopping mall on November 17, 2019 in Central Valley, New York. Gary Hershorn | Corbis News | Getty Images Check out the companies making headlines after the bell: Shares of Lululemon Athletica slipped 5% during extended trading Wednesday despite the
Delta Air Lines CEO Ed Bastian told CNBC on Thursday he expects the consumer to remain strong in the new year, and that’s why the carrier is raising its earnings guidance. Speaking to CNBC’s Phil LeBeau from the company’s investor day in Atlanta, Bastian said Delta is targeting revenue growth of 4% to 6% in
The Mega Millions jackpot has climbed higher yet again. With no one hitting all six numbers on Tuesday, the top prize is an estimated $340 million for Friday night’s drawing. And while the odds are stacked against hitting the jackpot — your chance is 1 in about 302 million — at some point, someone will
Jerome Powell, chairman of the U.S. Federal Reserve, speaks during a news conference following a Federal Open Market Committee meeting in Washington, D.C., on Wednesday, June 19, 2019. Andrew Harrer | Bloomberg | Getty Images This is a breaking news story. Please check back for updates. Federal Reserve Chairman Jerome Powell said on Wednesday that
What do the soft white sands of Cabarita Beach in New South Wales, the isolation of Tasmania’s Maria Island, and the banks of a river 170 miles from the nearest coast have in common? They were all on Thursday named among Australia’s top 10 beaches for 2020. Ranked No. 9, the inland Wagga Beach stands
Martin Barraud | Getty Images A majority of Americans say the economy is only benefitting the wealthy, despite record-low unemployment and rising wages. A poll by Pew Research Center found that 69% of Americans say the economy is helping the wealthy, while hurting the poor, those without college degrees and the middle class. Responses also
Federal Reserve Chairman Jerome Powell made it clear the central bank will not move on interest rates unless it sees a significant and persistent move in inflation, which has been stubbornly below the Fed’s target. Markets took Powell’s comments as dovish, meaning the Fed is leaning toward an easing policy and keeping interest rates low
Chevron is writing down as much as $11 billion worth of assets, and it could cost the entire market. S&P Dow Jones Indices’ Howard Silverblatt said that depending on the final charge, it could reduce 2020’s overall S&P 500 earnings by $1.32 per share. Currently, the median EPS estimate for next year’s S&P 500 earnings
PeskyMonkey | iStock | Getty Images The bull market in U.S. stocks rolls on. From the trade war between the U.S. and China and the slowdown in global economic growth, to Britain’s messy exit from the European Union and the potential impeachment of President Trump, nothing has dampened the enthusiasm for stocks. The American economy
Colin Anderson | Getty Images A new venture capital firm that will invest in companies that are fundamentally shifting how the energy sector operates said it has raised $250 million for its first fund. San Francisco-based Piva on Wednesday announced in a press release that its sole limited partner is Petronas, Malaysia’s state-owned oil and
U.S. Attorney General William Barr, December 10, 2019. Mark Wilson | Getty Images Washington D.C. — Attorney General William Barr on Tuesday took to the podium at a national gathering of attorneys general in Washington D.C. to attack one of the few bipartisan targets in Washington D.C: big technology. The speech took place at the
Champion golfer Jack Nicklaus known as ‘The Golden Bear’ wearing his Rolex Day-Date ref. 1803. SOURCE: Jim Mandeville Nicklaus Companies Golf legend Jack Nicklaus’s gold Rolex sold at auction Tuesday evening for $1 million. The Golden Bear’s Rolex, which he wore for over 50 years and during 12 of his majors, sold Tuesday night at
Jeffrey Gundlach Heidi Gutman | CNBC DoubleLine CEO Jeffrey Gundlach said he sees long-term rates marching higher as recession risks recede. The so-called bond king pointed to the ratio of copper to gold prices, which he believes has the predictive power of U.S. interest rates. That ratio is saying the benchmark 10-year Treasury yield should
Scott Mlyn | CNBC Home Depot on Wednesday forecast fiscal 2020 sales growth below Wall Street expectations, three weeks after the home improvement chain cut its 2019 sales forecast. The company said last month that its One Home Depot strategy, which aims to improve the online and brick-and-mortar businesses, was not yet generating as much
New York, New York E+ | Getty Images There are three weeks left in the year, and House Democrats are taking a last shot at ending the $10,000 limit on state and local tax deductions. Rep. Thomas Suozzi, D-N.Y, along with Reps. Bill Pascrell, D-N.J., and Mike Thompson, D-Calif., proposed the “Restoring Tax Fairness for
Howard Marks, Co-Chairman, Oaktree Capital David A. Grogan | CNBC Investors should take some risk off the table in 2020 given some of the challenges the market faces, billionaire investor Howard Marks said on Tuesday. “The economic expansion and the bull market are old,” Marks told CNBC’s Wilfred Frost. “Valuations are above average. There’s a
General Motors unveiled redesigned versions of the Chevrolet Suburban (pictured) and Chevrolet Tahoe on Dec. 10, 2019 in Detroit. Michael Wayland / CNBC DETROIT – General Motors unveiled new versions of its highly-profitable Chevrolet full-size SUVs Tuesday night that are larger, more tech-advanced and offer a wider range of choices for customers. Profits from the
Desmond Chang has spent much of the past year in steaming kitchens and pungent food production facilities scattered around Chengdu — arguably the city with the spiciest cuisine on the planet. In all-night sessions over hotpots and baiju (a potent alcoholic spirit), he conspired with local residents Xu Fan and Yang Wen to make this
Federal Reserve Chairman Jerome Powell holds a news conference following a closed two-day Federal Open Market Committee meeting in Washington, September 18, 2019. Sarah Silbiger | Reuters The Federal Reserve is likely to indicate it’s not in a hurry to do anything to change its neutral stand on interest rates, following its meeting Wednesday. But
Lauren Schaefer, 31, was managing events for the Columbia University Graduate School of Journalism when she quit to start her own wedding coordination company. Source: Lauren Schaefer When Lauren Schaefer started planning weddings, she never imagined it would become a full-time job. The 31-year-old worked in the events management industry for 10 years before she
J.P. Morgan stock is up more than 37 percent this year, but analysts at Keefe Bruyette & Woods don’t expect a repeat of that performance in 2020. The firm downgraded the stock to “market perform” from “outperform,” and placed a target price of $135 on the shares, which were trading for $134.41 at the close
James Quincey, the CEO of The Coca-Cola Company, speaks during an interview with CNBC on the floor at the New York Stock Exchange, December 9, 2019. Brendan McDermid | Reuters Coca-Cola CEO James Quincey said that the beverage giant waited too long to make a sparkling water brand. “We should’ve done AHA, yeah, sooner,” Quincey
At the Dead Sea, travelers slather thick, mineral-rich mud onto their bodies and bake under the sun. In India, hot stones are strategically placed along the spine. From Iceland to New Zealand, people luxuriate in steaming natural hot springs. And in Morocco? Travelers are buried alive in sweltering hot sand in the name of health
A customer uses a Joint-Stock Commercial Bank for Foreign Trade of Vietnam, or Vietcombank, automatic teller machine (ATM) in Hanoi, Vietnam. Justin Mott | Bloomberg | Getty Images Vietnam’s banking sector is an attractive investment opportunity because it is generating a lot of capital and growing fast, according to a senior banker at J.P. Morgan.
Jim McGuire | Getty Images A new proposal in Congress aims to resurrect an old tradition: mailing Social Security statements to your home. Since 2011, the Social Security Administration has cut back on the number of paper statements it puts in the mail in order to save money. A new bill, called the Know Your
Shares of Agilent Technologies gained more than 3% in after-hours trading on Monday after hedge fund investor Bill Ackman revealed he has taken a stake in the lab testing equipment maker. A regulatory filing showed Ackman’s hedge fund, Pershing Square Capital, owns more than 2.9 million Agilent shares, bringing his stake to around $246 million.
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