Signage of Saudi Aramco’s initial public offering (IPO) is seen during a news conference by the state oil company at the Plaza Conference Center in Dhahran, Saudi Arabia November 3, 2019. Hamad Mohammed | Reuters Shares of Saudi Aramco surged on their second day of public trading, pushing the kingdom’s record IPO to a gargantuan
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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
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
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
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
Zoom CEO Eric Yuan speaks at the Dropbox Work In Progress Conference in San Francisco on September 25, 2019. Matt Winkelmeyer | Getty Images for Dropbox Shares of video conference software company Zoom initially rose but then fell as much as 11% Thursday after the company issued fiscal third-quarter earnings that surpassed estimates, revealing slowing growth.
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.
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
Close-up of Postmates logo. Smith Collection/Gado | Archive Photos | Getty Images Venture capital’s renewed focus on profits instead of growth at any cost will make younger, urban lifestyles more expensive. Boardroom conversations are shifting in the wake of WeWork’s failed IPO, and investors are urging money-losing start-ups to tighten operations and eventually bump up
The Olympic flag and Russian flag are raised as the Russian National Anthem is sung during the 2014 Sochi Winter Olympics Closing Ceremony at Fisht Olympic Stadium on February 23, 2014 in Sochi, Russia. Paul Gilham | Getty Images Russia was banned from the Olympics and world championships in a range of sports for four
Allison Shelley | Getty Images News | Getty Images When it comes to Social Security, the question on most people’s lips is: “Will it still be there for me when I retire?” The answer is generally yes. But the system will pay less in benefits if nothing is done to repair it. In April, the
CrowdStrike released fiscal third-quarter 2020 results Thursday, and it beat on both the top and bottom lines. The stock fluctuated in after-hours trading on Thursday. It was up as much as 3.5% late in the afternoon. Here’s how the company did versus expectations: Loss per share: 7 cents vs. 11 cents expected, per Refinitiv estimates
World Wrestling Entertainment Inc. Chairman Vince McMahon (L) and wrestler Triple H appear in the ring during the WWE Monday Night Raw show at the Thomas & Mack Center August 24, 2009 Ethan Miller | Getty Images Entertainment | Getty Images (This story is part of the Weekend Brief edition of the Evening Brief newsletter.
“The Wolves of Wall Street I” David Yarrow | Maddox Gallery An homage to excess, featuring the signatures of two Hollywood legends, quickly banked $200,000 from an unnamed buyer this week. The black-and-white “Wolves of Wall Street I,” by famed British photographer David Yarrow, sold at Art Miami within 10 minutes of the art fair’s
(This story is part of the Weekend Brief edition of the Evening Brief newsletter. To sign up for CNBC’s Evening Brief, click here.) Wall Street veteran Karen Firestone knows all too well that stock picking isn’t as easy as it used to be, but her decades of experience is serving her well. Firestone runs a
CNBC’s Jim Cramer takes a look at the coming week of earnings reports, the Fed and stock market news. The “Mad Money” host sits down with Boot Barn CEO to get a better picture of its expansion plans. Later in the show he explains why President Donald Trump should let the Dec. 15 tariff hike
More than a quarter-billion dollars is up for grabs in the next Mega Millions drawing. After 10 weeks with no one hitting all six numbers, the jackpot has climbed to $285 million for Friday night’s drawing. And while the odds are stacked against a jackpot win — your chance is 1 in about 302 million
Ulta Beauty beat quarterly profit estimates on Thursday, driven by sales of higher-margin cosmetics products, sending the retailer’s shares up over 11% in extended trading. The near 30-year-old company has capitalized on booming demand for celebrity-led beauty brands, which are usually priced at a premium, and has attributed cosmetics lines from Kylie Jenner and YouTuber
Workers walk outside the Tesla Inc. Gigafactory in Shanghai, China, on Friday, Nov. 1, 2019. Qilai Shen | Bloomberg | Getty Images Morgan Stanley increased its “bull case” for Tesla to $500 a share on Thursday, in the firm’s calculation of a best case scenario for the company’s value if Cybertruck is successful and the
Charles Taylor | Getty Images There are less than four weeks left in the year, and your chances of a holiday gift at work are looking pretty good. About 2 in 3 companies anticipate giving workers a year-end bonus or perk, according to new data from Challenger, Gray & Christmas. The Chicago-based recruiting firm polled 250
Robinhood grew its user based tenfold in about three years by bringing in younger generations to the finance world, co-CEO of the mobile stock trading app, Vladimir Tenev, told CNBC’s Jim Cramer on Wednesday. The start-up earlier that day announced that it has registered more than 10 million accounts to its platform, up from 1 million
Guzman Y Gomez’s co-founder and CEO Steven Marks. Guzman Y Gomez SYDNEY — When Steven Marks landed a job at a top Wall Street hedge fund, he thought he had it made. Marks, then 23-years-old, was one of just two grads in his year to earn a place on legendary U.S. investor Steve Cohen’s New
Caiaimage/Paul Bradbury | Caiaimage | Getty Images You’ve got your holiday shopping list made and you’re checking it twice. But are you getting the right gifts for the right people? And what should you do if you are strapped for cash? Following some simple gift-giving rules can help you easily navigate the holiday season. They
Workday beat Wall Street estimates for third-quarter profit and revenue on Tuesday, and raised its full-year forecast for sales in its biggest business, as more companies signed up for its cloud-based financial and human resources management software. Shares of the company rose over 3% to $180 in trading after the bell. While players like Amazon.com’s
If a U.S.-China trade deal is off the table, stay away from the stock market, says Jeremy Siegel, Wharton School professor of finance. The Dow Jones Industrial Average lost more than 250 points after President Donald Trump indicated he might wait until 2020 to strike a trade deal with China. The White House reportedly still plans
La Reverie, the six-acre estate on Palm Beach stretches over 70,000 square feet. Handout Hedge fund billionaire Steven Schonfeld and his wife bought a sprawling Palm Beach estate for $111 million, making it the most expensive home ever sold in Florida. Schonfeld, the founder of New York-based Schonfeld Strategic Advisors, closed on the six acre-estate
Buildings along Victoria Harbor at night in Hong Kong, on April 29, 2019. Justin Chin | Bloomberg | Getty Images Law Ka-chung stepped down as chief economist at the Hong Kong unit of a Chinese state-owned bank and has alleged he was forced to do so because he is a native of Hong Kong, the
Cyber Monday sales in 2019 are reaching new records, as the ease of shopping on the internet beats hopping in the car to head to the mall. Shoppers are expected to ring up a whopping and record $9.2 billion online on Monday, up 16.9% from a year ago, with people spending an estimated $11 million
Pictured: (l-r) Rainn Wilson as Dwight Schrute and Steve Carell as Michael Scott in an episode of “The Office.” Justin Lubin | NBCU Photo Bank If you’re like many workers, you’ll be shopping online while you’re working today. A recent survey from Robert Half Technology, a human resources consulting company, found that 52% of employees
Ralph Orlowski | Getty Images Dell Technologies cut its full-year revenue forecast on Tuesday as its PC business grapples with a shortage of chips from Intel, sending its shares down nearly 5% in extended trading. Dell is the third-biggest PC maker after China’s Lenovo and HP, with the business accounting for nearly half of its