It’s no wonder the reverse mortgage is one of the most misunderstood mortgage products around. That was fine when reverse mortgages were an exotic loan product that few people purchased. However, more than 1 million have been sold since the government program that insures them started in 1990. So, what is a reverse mortgage? A
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Cheerios cereal maker General Mills missed analysts’ estimates for quarterly sales on Tuesday, hit by lower demand for its snacks and yogurts in the United States. Shares of the Minneapolis-based company, which has dropped nearly 20 percent this year, were down 2.2 percent at $46.7 before the bell. General Mills, like its rivals, is battling
FedEx reported quarterly profit that missed Wall Street estimates on Monday, as employee compensation and other expenses weighed on results. Shares in the Memphis-based package delivery company fell 5 percent Tuesday. FedEx and rival United Parcel Service are considered bellwethers for the U.S. economy and investors are monitoring U.S. President Donald Trump’s tariff battle with
Banks, you’ve been warned. About two-thirds of Amazon Prime members would try a free online bank account from the e-commerce giant, according to a report from consultant Bain & Co. That’s considerably higher than the percentage of regular Amazon customers (43 percent) or non-Amazon customers (37 percent) who would try an account, indicating strong loyalty
In a city where Teslas are a common sight — and just a few minutes from the factory where Elon Musk’s company is cranking out a record number of electric vehicles — Audi rolled out an all-electric SUV it hopes will cut into Tesla’s dominance of the luxury EV market. Audi’s new e-tron, which hits
22. InterviewBit Global headcount: 45 Headquarters: Pune InterviewBit helps jobseekers prepare for tech interviews, particularly in the software engineering space. The company provides users with a plan on how to prepare for their interviews, practice coding problems, as well as access to mentors and feedback. It plans to hire 50 employees within the next 12
Gary Cohn, the White House’s former top economic advisor, said Monday that Jamie Dimon would make a “phenomenal president” days after the J.P. Morgan Chase chief executive said he could beat President Donald Trump in an election. “I think Jamie would make a phenomenal president. I think Jamie would be a spectacular president,” Cohn said
Check out the companies making headlines after the bell: Oracle shares fell more than 3 percent in after-hours trading after the release of its first quarter earnings report. The company reported their earnings per share as 71 cents, beating analysts’ estimates of 69 cents a share. However, it missed estimates for revenue, reporting $9.2 billion
FilmMagic | Getty Images Entreprenuer Kimbal Musk speaks onstage during day 2 of the 2015 Life is Beautiful festival on September 26, 2015 in Las Vegas, Nevada. Elon Musk is working hard for Tesla shareholders and the company’s focus is on delivering the Model 3, said Musk’s brother and Tesla board member Kimbal Musk on
The cloud license and on-premises license generated revenue of $867 million, compared with the $865 million consensus estimate among analysts. Hardware revenue came in at $904 million, while services revenue was $813 million. Last week, analysts at KeyBanc Capital Markets lowered their estimates for Oracle’s next few quarters. “Oracle’s move to the cloud is taking
The S&P 500 closed down 0.55 percent near its lows of the trading session after the report. Earlier on Monday, White House economic advisor Larry Kudlow said Trump has “not been satisfied” with the trade talks with China and confirmed the administration was readying additional tariffs. Over the weekend, The Wall Street Journal reported that
Be sure to take into account the kinds of tax advantages you may get from investing. If you have a company retirement plan or an individual retirement account, you will get a tax break either when the money goes in or out, depending on what kind of account you own, Benz said. Traditional 401(k) plans
Raymond James is getting more optimistic on Bed Bath & Beyond shares due to the improving economy. The firm raised its rating to market perform from underperform for Bed Bath & Beyond shares, predicting the retailer will report sales above expectations in its fiscal second quarter. We are “expecting above-consensus same-store sales [for Bed Bath
Cost-of-living adjustments are aimed at ensuring that benefits keep up with inflation. The adjustments are calculated each year using the Consumer Price Index for Urban Wage Earners and Clerical Workers, or CPI-W. That index is based on the buying habits, including goods and services, of workers who are under 62 years old. The cost-of-living adjustment
“If you have a rewards card, you should probably be using it more often,” Rossman said. “That’s why it’s surprising that credit cards came in so low on the list.” Rewards credit cards are ideal for small purchases, where you can rack up points and pay off the balance quickly, according to Rossman. If you
Travis Long | Raleigh News & Observer | Tribune News Service | Getty Images A man in front of a flooded home on Will Baker Road in Kinston, North Carolina on Sunday, Sept. 16, 2018 following the aftermath of Hurricane Florence. Under most circumstances, in order to claim the casualty or theft loss, you must
The head of the National Flood Insurance Program told CNBC’s “Squawk on the Street” Monday that the government is prepared to handle the anticipated rash of claims filed by homeowners in the upcoming days and weeks. “As the days continue, we’ll be able to start to get the number of claims being submitted, get adjusters
Interest rates have been marching steadily upward for months, and the Fed has indicated plans to raise interest rates twice more before year’s end in an effort to temper inflation amid a growing economy and sustained job growth. “There’s been a sea change in the markets,” said Matt Diczok, fixed-income strategist for Merrill Lynch and
Heading into Monday’s fiscal first quarter earnings report following the market close, Oracle is looking for a story to tell investors that could get them excited for the future. Analysts anticipate almost no revenue growth this fiscal year, despite company executives frequently touting Oracle’s cloud business and telling investors it can deliver cheaper cloud-computing services
Ivan Alvarado | Reuters The logo of Amazon Web Services (AWS) is seen during the 4th annual America Digital Latin American Congress of Business and Technology in Santiago, Chile, September 5, 2018. Citi Research believes Amazon should split itself up to reduce the risk of regulation and increase shareholder value. The firm reiterated its buy
The mental roadblocks humans tend to throw in front of their efforts to make sound decisions have come to be known as “cognitive biases.” Cognitive biases are so apparent and so inherent that there’s no disputing their existence. Psychological research has identified an array of cognitive biases. Given the foundational level at which these biases
When a company’s culture is healthy, these conversations should happen easily, Moravek says. But even in an unhealthy culture and with a difficult, poorly trained supervisor, it’s worth trying to develop the relationship. After a difficult moment at work, Moravek recommends taking these steps. Take a deep breath and remind yourself this is not personal.
But the Chinese have indicated that they will pull out of the talks if Mr. Trump follows through on his threat to impose tariffs on another $200 billion in Chinese goods, according to a person familiar with the matter. Mr. Trump has told advisers that he wants to move ahead with the new round of
Scott Barbour | Getty Images Fan Bingbing and Hugh Jackman arrive at the Australian premiere of ‘X-Men: Days of Future Past’ on May 16, 2014 in Melbourne, Australia. Shortly after Cui’s post, the country’s State Administration of Taxation released a statement saying: “If violations of tax laws and regulations are found, they will be handled
Shiseido, one of the largest cosmetics companies in the world, isn’t relying on its reputation alone for business success. Instead, the 146-year-old Japanese firm is looking to combine the knowledge of start-ups with the its own extensive experience, the company’s chief told CNBC on Friday at the annual Singapore Summit. “Everybody is looking at, you
Clearly, the Fed has not been able to hold inflation down. Statements by Fed officials last week are recognizing that difficulty, admitting that inflation will be rising above 2 percent. A strange “market guidance” indeed. Consumer prices in July and August have already been pushing up at an average annual rate of 2.8 percent. It
Sebastian Thrun, one of the best known entrepreneurs in Silicon Valley, is taking on a new challenge that’s a big shift from his work in autonomous transportation or online education: He’s working to automate sales chats. Thrun, who founded Google‘s research lab X and its autonomous car project, education start-up Udacity, and electric aircraft company
“The fact you have to pay it back is unusual,” Johnson said. It raises questions about who should share in the cost of raising children. Paid leave should be a benefit provided by employers, says Jennifer Himes, a customer service rep in Pittsburgh . “This is a scam to take your own money out of
Getty Images Melvin Gordon #28 of the Los Angeles Chargers scores a six-yard touchdown against the Oakland Raiders during their NFL game at Oakland-Alameda County Coliseum on October 15, 2017 in Oakland, California. Two traders have developed a futures market to appeal to fantasy sports junkies and Wall Street lifers who want to bet on
The upside is you get a new phone every 12 months. If you join the program in September, as I did, you can get the new iPhone each year when it’s released, which is why it’s more fun than signing up in other months. Because I joined the program with the iPhone 8 Plus last
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