For people living in the developed world, electricity is something that can perhaps be taken for granted — with the flick of a switch or the press of a button they have lighting, TV and a huge number of other modern conveniences. Yet many people do not enjoy the same benefits. In sub-Saharan Africa, for
Month: July 2019
European stocks traded higher on Friday as market players increase their bets the U.S. Federal Reserve will cut interest rates this month. The pan-European Stoxx 600 was up by 0.4% after the opening bell, auto stocks leading the charge with a 1% climb as all sectors except media traded in positive territory. European Markets: FTSE,
Satya Nadella speaking at the 2016 World Economic Forum in Davos, Switzerland. David A. Grogan | CNBC The age of Azure is upon us. For the first time in more than three years, Microsoft’s Intelligent Cloud reporting segment, which includes the Azure public cloud that competes with market leader Amazon Web Services, contributed more revenue
John C. Williams, president and CEO of the Federal Reserve Bank of New York speaks to the Economic Club of New York, March 6, 2019. Lucas Jackson | Reuters When New York Federal Reserve President John Williams said central bankers need to “act quickly” as economic growth slows, a spokesperson said he was drawing from
Photo by Hero Images via Getty Images Healthy couples retiring in 2019 will have to dig deep to cover medical expenses. A 65-year-old couple in good health will need $387,644 to pay for health-care costs for the remainder of their lives, according to HealthView Services, a provider of health-care cost projection software. That sum includes
The Lotus Evija electric hypercar, manufactured by Group Lotus Plc, a unit of Zhejiang Geely Holding Group Co Ltd., sits on display following its unveiling at the Royal Horticultural Halls in London, U.K., on Tuesday, July 16, 2019. Bloomberg | Bloomberg | Getty Images It’s been 11 year since Lotus Cars introduced a new model,
Dara Khosrowshahi, chief executive officer of Uber Technologies speaks on a webcast during the company’s initial public offering on the floor of the New York Stock Exchange, May 10, 2019. Michael Nagle | Bloomberg | Getty Images Morgan Stanley gave clients a bunch of earnings stock picks where the firm’s view differs from the rest
A bipartisan bill that cleared the House last week would let first-time homebuyers pay a bit less at closing if they go through homeownership counseling. Called the Housing Financial Literacy Act, the measure would apply to first-time homebuyers who take out a mortgage backed by the Federal Housing Administration. Borrowers who go through the counseling
US President Donald Trump speaks at a “Make America Great Again” rally at Minges Coliseum in Greenville, North Carolina, on July 17, 2019. Nicholas Kamm | AFP | Getty Images President Donald Trump’s allies in the business world and an army of bundlers have been courting executives across the country in an effort to help
Flood waters cover a neighbourhood street after Tropical Storm Barry passed through in Mandeville, Louisiana on July 14, 2019. SETH HERALD | AFP | Getty Images Hurricane Barry dumped more than 23 in. of rain in places as it stormed up the Mississippi River Valley from Louisiana and Alabama to Arkansas and as far north
Philip Morris International beat second-quarter earnings and revenue estimates and hiked its full-year forecast Thursday as its new tobacco products gained momentum, sending shares of the company up more than 9%. PMI sells Marlboro cigarettes and other brands around the globe. The tobacco giant is trying to pivot away from cigarettes and toward new products,
James Gorman, chief executive of Morgan Stanley. Qilai Shen | Bloomberg | Getty Images Morgan Stanley on Thursday beat analysts’ estimates for second-quarter profit as a buoyant stock market helped two of the investment bank’s three main businesses. The bank posted earnings of $2.2 billion, or $1.23 a share, exceeding the $1.14 estimate of analysts
UnitedHealthcare office Michael Nagle | Bloomberg | Getty Images UnitedHealth beat estimates for quarterly profit and raised its 2019 earnings forecast on Thursday, buoyed by strength in the largest U.S. health insurer’s pharmacy benefits management business and its insurance plans. The company is the first health insurer to report quarterly results after the Trump administration
European banks are finally showing signs of recovery and investors should be looking to reduce their bearish positioning in the beleaguered sector, according to Barclays strategists. In a note published Wednesday, Barclays’ European banking and European equity teams projected that the stabilization of euro zone economic data and bond yields may bolster the banks, which
CNBC’s Jim Cramer said Wednesday that a number of bank stocks are worth buying, despite signs that the economy is weakening and the Federal Reserve won’t be raising interest rates this year. The banking cohort that have reported earnings thus far — Citigroup, JPMorgan Chase, Wells Fargo and Goldman Sachs — combined made $29.5 billion, which the
Core Laboratories: “I think at the end of the week we have Schlumberger … that’s been a real disaster, frankly, and we’re going to find out more. Let’s use that as the example and make that whether we should buy Core Labs or not. “ Triplepoint Venture Growth: “I’m familiar with it, which is a
Fans gather at the Netflix booth at a trade show. Mike Blake | Reuters Check out the companies making headlines after the bell: Netflix fell more than 12% in after-hours trading following the release of its second-quarter earnings. The streaming giant reported global net adds of 2.7 million — much lower than earlier stated guidance
Andrew Left, founder and CEO of Citron Research Adam Jeffery | CNBC Andrew Left’s Citron Capital posted a net return of 24.7% after fees and expenses in the first half of 2019, according to an investment letter posted on the fund’s website Wednesday, but said “it has been an extraordinarily challenging environment to be a
New Yorkers are paying the heftiest state income taxes. Residents in the state paid $2,249 per capita in individual state income taxes during the 2017 fiscal year, according to data from the Tax Foundation. Connecticut came in second with $2,218. Massachusetts followed in third: $2,146. Meanwhile, there are seven states that don’t tax individual income:
A fireball erupted from the base of SpaceX’s so-called “Starhopper” prototype rocket after a test at the company’s facility in Texas. @LabPadre A fireball erupted from the base of SpaceX’s prototype rocket on Tuesday evening, minutes after a key test at the company’s facility in Boca Chica, Texas. The blaze erupted from what appeared to
New Jersey Governor Phil Murphy speaks after taking the oath of office in Trenton, New Jersey, January 16, 2018. Lucas Jackson | Reuters New Jersey is suing the Internal Revenue Service, challenging new rules that would block states’ attempts to get around a new $10,000 cap for state and local tax deductions. The state’s governor,
Hedge fund kingpin Ray Dalio is seeing a case for gold as central banks get more aggressive with policies that devalue currencies and are about to cause a “paradigm shift” in investing. Dalio, founder of the world’s largest hedge fund, wrote in a LinkedIn post that investors have been pushed into stocks and other assets that
Guests view sneakers on display for “The Ultimate Sneaker Collection” online auction at Sotheby’s on July 15, 2019 in New York City. Dia Dipasupil | Getty Images A collection of sneakers being auctioned by Sotheby’s sold for $850,000, proving that rare sneakers are becoming a coveted collectible. Sotheby’s and digital retailer Stadium Goods opened the
As college costs rise, some students apply to a laundry list of schools to increase their odds of getting into one they can afford. Yet doing so can leave families with another large tab. “Application fees quickly add up to thousands of dollars if you apply to dozens of colleges,” said Mark Kantrowitz, publisher of
Reed Hastings attends Reed Hastings panel during Netflix ‘See What’s Next’ event at Villa Miani on April 18, 2018 in Rome, Italy. Getty Images Earnings season is underway and there’s no shortage of story lines when Netflix reports its second quarter earnings after the bell on Wednesday. Wall Street analysts say they’ll be squarely focused
Devin Wenig, CEO of eBay at the 2018 WEF in Davos, Switzerland. Adam Galica | CNBC EBay is moving forward with a potential sale of ticket exchange company StubHub, sources told CNBC’s David Faber. The sources said eBay is still early in the process, but note there are “multiple” parties interested in buying StubHub. Shares
filadendron | E+ | Getty Images Amazon‘s 48-hour Prime Day is over, which means regret over some of your purchases might be sinking in. You’re not alone. Eddie McNamara, a 43-year-old cook in New York, still regrets his Prime Day purchase of two Instant Pots — one for him and one for his sister —
Shopping “holidays” like Black Friday and Amazon Prime Day are designed to entice consumers to spend as much as possible on items they may not have planned to purchase. But even in the absence of such events, it’s common for consumers to succumb to pressures to make impulse buys. Nearly 90% of people recently surveyed
Bank of America on Wednesday posted profit that exceeded analysts’ expectations on strength in its sprawling retail bank. The lender said it generated $7.3 billion in second-quarter profit, an 8% increase from a year earlier, or 74 cents a share, compared with the 71 cent estimate of analysts surveyed by Refinitiv. It reported revenue of
UnitedHealthcare office Michael Nagle | Bloomberg | Getty Images UnitedHealth Group has bought up thousands of medical practices all over the country through its Optum unit, which have helped its insurance networks hold down costs. Now, the health-care giant says it’s setting its sights on small hospitals – but not to buy them — to
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