Business

Enes Evren It’s been a rough year for the stock market, and some consumers are closing investment accounts due to inflation and volatility concerns, according to a recent survey from Ally Financial.  As investors brace for another major interest rate hike from the Federal Reserve, inflation is still hovering near a 40-year high and the

Lukas Walton Builders Vision, the investing and philanthropy platform of billionaire Lukas Walton, has shifted its $1 billion endowment into what it calls “impact investments,” leading a broader shift in family offices to connect their investing and giving. Chicago-based Builders Vision will announce today that its Builders Initiative Foundation has moved 90% of its endowment

Jamie Grill | Getty Images As Americans grapple with soaring prices, experts say it’s likely we’ll see higher-than-usual inflation adjustments from the IRS for 2023 — covering tax brackets, 401(k) plan contribution limits and more. Built into the tax code, these yearly IRS changes aim to prevent so-called “bracket creep,” when inflation bumps up income

In this article STKL ARRY OPEN PHM A worker at a Lennar home under construction. Justin Sullivan | Getty Images News | Getty Images Check out the companies making the biggest moves midday Monday: D.R. Horton, Lennar, PulteGroup — Homebuilder stocks moved higher on Monday after KeyBanc double upgraded the sector to overweight from underweight.

In this article SONY Viola Davis stars in Sony’s “The Woman King.” Sony During a lull in the movie calendar, Gina Prince-Bythewood’s “The Woman King” is generating the kind of buzz — and ticket sales — that the box office desperately needs. Theaction-packed film about an all-female regiment of warriors brought in $19 million at

Fabio Formaggio / 500Px | 500Px Plus | Getty Images Last year, I moved into a one-bedroom apartment in Manhattan. At 28, I was living alone for the first time. It was tremendously exciting, but I also had a problem: I had no furniture. For weeks I slept on an air mattress that would be

Apple CEO Tim Cook presents the new iPhone 14 at an Apple event at their headquarters in Cupertino, California, U.S. September 7, 2022.  Carlos Barria | Reuters The market outlook is becoming increasingly uncertain, given unwieldy inflation and a slowing economy. Stocks ended Friday with losses. They were ultimately unable to bounce back from a

In boardrooms and on basketball courts, billionaire Mark Cuban says he’s noticed one factor that consistently leads to success: team culture. On an episode of the “Re:Thinking with Adam Grant” podcast this week, the “Shark Tank” investor and Dallas Mavericks owner said creating collaborative working environments is more important than amassing raw talent. He said

In this article IP FDX UBER ADBE FE SNOW FedEx received its first five of an order of 500 electric Light Commercial Vehicles (eLCVs) from BrightDrop. Courtesy: Fedex Check out the companies making headlines in midday trading. FedEx – Shares of the delivery giant slid about 21.4% after the company preannounced disappointing results for the

In this article F Ford Chair Bill Ford and President and CEO Jim Farley converse in front of newly revealed Mustang Dark Horse at The Stampede in downtown Detroit on Sept. 14, 2022. Ford DETROIT – Ford Motor CEO Jim Farley was in his element Wednesday night, surrounded by gearheads and the automaker’s new 2024

Cecilie Arcurs | Getty Images There’s about one month until the Oct. 17 tax deadline extension, and experts say filers need to prepare, especially for more complicated returns. An estimated all-time high of 19 million American taxpayers filed an extension for their 2021 returns, according to the IRS. Kevin Brady, a certified financial planner and

In this article FDX Shares of FedEx closed down more than 21% Friday after the company posted bleak preliminary earnings, citing weakening demand in global shipment volumes. The shipping giant late Thursday also withdrew its full-year guidance and announced significant cost-cutting measures. The drop in its share price wiped around $11 billion off the company’s

Traders work the floor of the New York Stock Exchange during morning trading on August 15, 2022 in New York City. Michael M. Santiago | Getty Images Economists, Wall Street analysts, hedge fund managers and public prognosticators have been all over the map lately in trying to divine the ways of Wall Street. Some have

It was a heist that was as brazen as it was simple. On the morning of Nov. 29, 1985, a couple entered The University of Arizona Museum of Art in Tucson, Arizona. Within minutes, “Woman-Ochre” — a painting by the Dutch-American artist Willem de Kooning — was gone. The museum’s curator Olivia Miller described the

Mergers in software may be about to break out. Top investment banker Rick Sherlund of Bank of America sees a wave of struggling companies putting themselves up for sale at cheaper prices due to the economic downturn. related investing news Ray Dalio says higher interest rates to squash inflation could tank stock prices by 20%

In this article BBBY Bed Bath & Beyond has announced dozens of the roughly 150 stores it plans to close. The struggling home goods retailer released its plans last month to shutter the “lower producing” locations, representing about 20% of its namesake stores. The closures are part of a broader plan to try to stabilize

Getty Images If you haven’t been sending part of your income to the IRS in recent months, this week is the last chance to avoid a tax penalty. The deadline for third-quarter estimated taxes is Sept. 15, applying to income from self-employment, small businesses, investments, gig economy work and more, according to the agency. “It’s

In this article ORCL CHWY MSFT CRDO AMBA Microsoft Corporation headquarters at Issy-les-Moulineaux, near Paris, France, April 18, 2016. Charles Platiau | Reuters Stocks broke a three-week losing streak on Friday, but uncertainty looms over the horizon as the Federal Reserve prepares for its September meeting. The prospect of a sizable interest rate hike is

In her ongoing crusade to give away at least half of her wealth, billionaire MacKenzie Scott is now gifting mansions to charity. Scott recently donated two of her homes — both in Beverly Hills, California — to the California Community Foundation (CCF), which provides grants to mission-based nonprofits in Los Angeles. The organization intends to

The market’s violent reaction to hotter-than-expected inflation may usher in more losses. Investor Peter Boockvar believes Wall Street is coming to grips with a painful reality: Inflation isn’t moderating, so the Federal Reserve won’t pivot. “After next week’s rate hike, we’re going to start playing a dangerous game with the state of the economy. The

Robert Sarver of the Phoenix Suns takes notes inside the lottery room during the 2017 NBA Draft Lottery at the New York Hilton in New York, New York. Jennifer Pottheiser | National Basketball Association | Getty Images The NBA suspended Phoenix Suns and Mercury owner Robert Sarver for one year and fined him $10 million

Olena Ruban | Moment | Getty Images By next month, tens of millions of Americans should be able to start applying for student loan forgiveness. For a number of reasons, experts say borrowers should fill out their application sooner rather than later. These are 4 dates that should be on your radar, including three before

In this article ORCL Oracle reported revenue that met expectations on Monday, while earnings and quarterly guidance came in below analysts’ estimates. Revenue climbed 18% in the quarter from a year earlier, thanks to a contribution from recently acquired software maker Cerner. Here’s how the company did: Earnings: $1.03 per share, adjusted, vs. $1.07 per

In this article GS The weakest American borrowers are starting to miss payments and default on their loans, and that is showing up at a surprising place: Goldman Sachs. While competitors like Bank of America enjoy repayment rates at or near record levels, Goldman’s loss rate on credit card loans hit 2.93% in the second

In this article 69-HK IHG-GB HLT AC-FR .SSEC MAR Business travelers are on the road again. So there’s no better time for CNBC Travel to name the best hotels for business travel across Asia-Pacific. CNBC joined with the market and consumer data firm Statista to produce rankings of the “Best Hotels for Business Travelers.” A

In this article REGN RH TSLA CAT The Kroger supermarket chain’s headquarters is shown in Cincinnati, Ohio. Lisa Baertlein | Reuters Check out the companies making headlines in midday trading Friday. Zscaler — Zscaler surged 21.9% after reporting strong earnings in its most recent quarter. The company posted adjusted earnings of 25 cents per share

The slowdown in the otherwise red-hot housing boom has been stunningly swift. The U.S. housing market surged during the pandemic as homebound people sought new places to live, boosted by record-low interest rates. Now, real estate agents who once reported lines of buyers outside open houses and bidding wars on the back deck say homes

Like many borrowers, Halid Hamade, 28, is poised to benefit — at least somewhat — from student loan forgiveness. After President Joe Biden announced he will forgive $10,000 in federal education debt and up to $20,000 for recipients of Pell Grants who meet the income threshold, Hamade said he was happy. Still, “it’s not enough,”

In this article NIO Employees stand next to a ET7 sedan at a NIO Inc. dealership in Shanghai, China, on Wednesday, June 8, 2022. Qilai Shen | Bloomberg | Getty Images Chinese electric vehicle maker Nio had a loss of $409.8 million in the second quarter, representing significantly widening losses, despite deliveries that surpassed year-ago