The Bank of New York Mellon on Wall Street, New York. Scott Mlyn | CNBC Bank of New York Mellon missed analysts’ estimates for quarterly profit on Thursday, as the world’s largest custodian bank earned less from its interest-earning assets due to rate cuts by the Federal Reserve. Big U.S. banks that reported results earlier
CNBC’s Jim Cramer stressed why it’s important for American business to become more environmentally conscious. The “Mad Money” host sat down with the CEO and CFO of Microsoft to get a deeper look in to the software giant’s ambitious sustainability plan. Later in the show he got insight into CBD medicine sales with the head
Ariel Skelley Personal finance website WalletHub is out with another list of the best states in which to spend your retirement. Factoring in affordability, quality of life and health care, Florida came in first. Yet a recent ranking by Business Insider dubbed Mississippi the winner. Nebraska took the title in another list last year compiled
CNBC’s Jim Cramer said Wednesday that “tariffs worked” as a means to prod China to agree to a phase one trade deal with the United States. “I keep wondering when people are going to recognize that it is historic that tariffs did succeed,” Cramer said on “Squawk on the Street,” shortly before U.S. and Chinese
Peter Griffith You might have the know-how to strengthen your finances, yet odds are you’re still making bad decisions with your money. Three out of 4 people consider themselves to be financially savvy, although more than half have admitted to making poor money choices in the past year, according to a survey from KeyBank. The
Economic forecaster Lakshman Achuthan is seeing signs of a global growth comeback in an under-the-radar trend. He’s finding industrial commodity prices are starting to firm up and about to turn positive — a signal that demand is returning. “It’s less negative. It’s not even positive inflation yet. But the vector here is everything, especially in
James Gorman David A. Grogan | CNBC Morgan Stanley is set to report fourth-quarter earnings before the opening bell on Thursday. Here’s what Wall Street expects: Earnings: 99 cents a share, 24% higher than a year earlier, according to Refinitiv Revenue: $9.72 billion, 14% higher than a year earlier Wealth management: $4.39 billion, according to
Health and Human Services Secretary Alex Azar listens as U.S. President Donald Trump delivers a speech about lowering prescription drug prices from the Rose Garden at the White House in Washington, U.S., May 11, 2018. Jonathan Ernst | Reuters CEOs from the world’s largest pharmaceutical companies pitched ideas for lowering drug prices at the J.P.
Faraday Future, a California-based electric-car startup and Tesla’s once rival, generated buzz in 2015 as the company poached top talent from Tesla, BMW, Audi, Ford, and Ferrari. Called “Tesla killer,” Faraday’s meteoric rise in notoriety occurred on dubious underpinnings — the company did not promise a product, nor did it announce any concrete plans for
► Take our survey and tell us what you like about our YouTube channel and would like to see more of: https://bit.ly/33SJ8AI FT’s Leslie Hook and Camilla Hodgson discuss their investigation into air pollution on London’s Tube, the oldest subway system in the world, carrying 4.8m passengers every day. Read more at https://on.ft.com/34sWjsi ► Check
Guido Mieth Americans are spending more with digital payments and credit cards than ever before, as convenience and technology have relegated cash and checks more to the periphery. Online shopping has proliferated on retail websites such as Amazon, mobile payment apps like Venmo have become more popular, and banks have made it as easy to
The U.S.-Iran conflict appears to be in the rear-view mirror as stocks soar to record highs and the phase one signing of the U.S.-China trade deal takes center stage, but some are warning that tensions in the Middle East continue to simmer, and may soon reach a boiling point. “A significant change to our outlook
If you hit the $296 million Powerball jackpot in Wednesday night’s drawing, remember that good ol’ Uncle Sam will be celebrating alongside you. The top prize has been climbing for more than two months through twice-weekly drawings with no one matching all six numbers. And while the odds are stacked against snagging the jackpot —
Dara Khosrowshahi Patrick T. Fallon | Bloomberg | Getty Images Goldman Sachs sold its entire stake in ride-hailing giant Uber in the fourth quarter, according to a person with direct knowledge of the move. The sale, which likely resulted in a large gain for the early investor in Uber, helped New York-based Goldman beat analysts’
Laurence “Larry” Fink, chairman and chief executive officer of BlackRock. Chris Goodney | Bloomberg | Getty Images BlackRock, the world’s largest asset manager, beat analysts’ estimates for quarterly profit on Wednesday, as more money rolled into its cash management business and exchange-traded funds amid concerns of slowing global growth. The company attracted $128.84 billion in
CNBC’s Jim Cramer revealed a list of stocks worth buying on a pullback after the U.S. and China authorized a long-delayed phase-one trade deal. The “Mad Money” host broke down why personalization is playing a larger role in the retail and pharmaceutical spaces. Later in the show, he went one-on-one with XPO Logistics CEO Bradley
Rene Carillo, 51, regrets not investing more when the stock market dropped. Rene Carillo We all have financial regrets. Things we bought, bills we paid late, decisions we didn’t research. Turns out, according to personal finance site MagnifyMoney, investing brings a host of bad feelings. The top one is not investing at all, according to
Tesla Inc CEO Elon Musk dances onstage during a delivery event for Tesla China-made Model 3 cars in Shanghai, China January 7, 2020. Aly Song | Reuters More than a dozen Wall Street firms have adjusted their ratings or price targets for Tesla shares since the beginning of the year, playing catch-up after stock of
Mexico’s Ministry of Tourism announced in 2001 it was developing a program to highlight the most beautiful and culturally-rich towns in the country. With more to offer than just beach resorts, ports of call and salt-rimmed margaritas, Mexico focused on the small towns and villages that best represent regional traditions, history, festivals and food. The
David M. Solomon, Chairman and CEO of Goldman Sachs, speaks during the Milken Institute’s 22nd annual Global Conference in Beverly Hills, April 29, 2019 Mike Blake | Reuters Goldman Sachs is scheduled to report fourth-quarter earnings before the opening bell Wednesday. Here’s what Wall Street expects: Earnings: $5.47 a share, a 9.5% decline from a
Bank of America CEO Brian Moynihan speaking on Squawk Box at the WEF in Davos Switzerland on Jan. 20th, 2019. Adam Galica | CNBC Bank of America posted profit that exceeded analysts’ expectations on a rebound in trading revenue and as the company repurchased shares. The bank posted fourth-quarter profit of $74 cents a share, an
In this arranged photo, a UnitedHealth Group health insurance card is seen in a wallet in this picture illustration October 14, 2019. Lucy Nicholson | Reuters UnitedHealth reported a better-than-expected quarterly profit on Wednesday, as the largest U.S. health insurer managed to control medical costs and made gains with the unit that houses its pharmacy
The Clingstone House in Jamestown, RI, sits on an island in the middle of Narragansett Bay and cost former architect, Henry Wood, a mere $3,600 in 1961.
Democratic presidential candidate Sen. Elizabeth Warren (D-MA) speaks to guests during a campaign stop at Fisher Elementary School on January 12, 2020 in Marshalltown, Iowa. Scott Olson | Getty Images Presidential contender Sen. Elizabeth Warren said on Tuesday that she would begin to forgive student loan debt on the first day of her administration, using
Beyond Meat “Beyond Burger” patties made from plant-based substitutes for meat products sit on a shelf for sale on November 15, 2019 in New York City. Vegetarian alternatives to burgers and sausages, revived by start-ups like Beyond Meat and Impossible Burger, are enjoying a certain enthusiasm that meat giants also want to enjoy. ANGELA WEISS
The Internal Revenue Service headquarters in Washington, D.C. Andrew Harrer | Bloomberg | Getty Images Every budget cycle, members of Congress solemnly promise to better fund the Internal Revenue Service so it can do its job of collecting taxes and serving the taxpayer. And once again, Congress has done the opposite. According to an analysis
Jamie Dimon, CEO of JP Morgan Chase, speaking at the 2019 WEF in Davos, Switzerland on Jan. 23rd, 2019. Adam Galica | CNBC For years, Jamie Dimon had a running joke: Ask him when he was going to step down from J.P. Morgan Chase, and the answer was always five years in the future, no
A Citibank branch in Hong Kong. Vincent Isore | IP3 | Getty Images Citigroup is slated to report its calendar fourth-quarter results on Tuesday as investors brace for a highly anticipated earnings season. Here’s what analysts are expecting to see from the banking giant’s results: Earnings: $1.84 per share, according to Refinitiv Revenue: $17.889 billion
GM plans to expand an off-road sub-brand called AT4 across its vehicle lineup in 2020. GM DETROIT – General Motors wants to replicate the success of its “money machine” Denali lineup of pickups and SUVs to boost profits as auto sales slow and competition in the lucrative truck market increases. The Detroit automaker is expanding
Retirees can boost their Social Security payments substantially by avoiding one costly, yet common, mistake. Americans can claim Social Security benefits as early as age 62. While it may be tempting to begin receiving that monthly income as soon as possible, retirees could leave a lot of money on the table by doing so. That’s
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