Mastercard President and CEO Ajay Banga told CNBC Tuesday that he has led the company for more than a decade and that it is time to pass the baton. He will transition out of the roles next year, ceding the chief executive seat on Jan. 1 and the president title months later to current Chief Product
Month: February 2020
The Nasdaq-100 Index shed more than 2% on Tuesday, and based on one key technical indicator, it may be headed for even steeper declines. On Monday, the tech-heavy index’s 14-day RSI reading fell below 50, breaking its longest streak above 50 on record, according to data from Sentimentrader. RSI, or relative strength index, is a
John Fedele The annual income of older Americans could drop significantly from one year to the next for a variety of reasons. It might be retirement or the death of a spouse, perhaps, or the sale of a business. Yet it might take Medicare — which charges higher earners more for premiums — a couple
People wait in a line to buy face masks at a retail store in the southeastern city of Daegu on February 25, 2020. JUNG YEON-JE | AFP via Getty Images This is a live blog. Please check back for updates. All times below are in Eastern time. Total confirmed cases: More than 80,200 Total deaths:
Macy’s reported fourth-quarter earnings on Tuesday that outpaced expectations, helped by a boost from last-minute shoppers who lifted sales in the days leading up to Christmas Shares climbed as much as 6% in premarket trading, but were recently about 3% higher. “Taken as a whole, 2019 did not play out as we intended for Macy’s,
Larry Kudlow speaking at the CNBC Capital Exchange breakfast in Washington, D.C. on July 9th, 2019. Paul Morigi | CNBC National Economic Council Director Larry Kudlow tried on Tuesday to assuage concerns over the cornavirus and its impact on the U.S. economy. “We have contained this. I won’t say [it’s] air-tight, but it’s pretty close
Virgin Galactic’s stock jumped on Tuesday as speculative trading in the space tourism company continues, with its quarterly results expected after the market closes. Shares of Virgin Galactic climbed more than 6% from its previous close of $34.29. The stock is near record high levels, as it soared above $40 a share last week after
Sophia Bera, CEO and founder of Gen Y Planning. When financial advisor Sophia Bera founded her Austin, Texas-based practice in 2013, she decided to work primarily with millennial clients. Bera, then 29, wanted to help her peers navigate their early careers and the thorny financial issues, such as managing student debt and buying a first
It goes without saying that death and taxes are two of life’s certainties. But what many people don’t know is that their Social Security retirement benefits might be taxed. And that means that they haven’t been using strategies proactively to reduce those levies and extend their income over their retirement years. William Meyer, founder of
Gail Warrior Gail Warrior Gail Warrior, who created one of the largest woman- and minority-owned construction companies in the U.S., remembers her first experience applying for a business loan back in 2000. She was chief executive of Dallas-based Warrior Group, a modular construction company that had just won a government contract to build a barracks
OPEC and its allied oil-producing nations are still working well together and still have options to try to rebalance global crude markets, Saudi Energy Minister Prince Abdulaziz bin Salman said Tuesday. “We do communicate with each other, we use every opportunity to talk with each other,” he said, speaking to reporters at the ICCUS conference
A Home Depot store in Miami, Florida. Getty Images Home Depot is set to report earnings for the fourth quarter before the bell Tuesday and update investors on whether its significant investments in the company are paying off. Here’s what analysts expect, based on Refinitiv data: Earnings per share: $2.10, adjusted Revenue: $25.76 billion Same-store
British financial technology start-up Revolut has raised $500 million in a fresh round of funding that values it at $5.5 billion. The investment round was led by Silicon Valley-based venture capital firm TCV — an early investor in companies like Facebook and Netflix — and also attracted backing from existing investors Ribbit Capital, DST Global,
Historic England is the country’s official list keeper of the most historically and architecturally significant places in England — places such as monuments, shipwrecks and battlefields. And pubs. Earlier this month, the heritage organization updated 11 English pub listings to reflect their cultural heritage and national importance, with one receiving a coveted Grade I designation.
Warren Buffett told CNBC on Monday that Berkshire Hathaway‘s “third-largest business,” after its insurance and railroad interests, is its stake in Apple. “I don’t think of Apple as a stock. I think of it as our third business,” Buffett said on “Squawk Box.” The Oracle of Omaha’s annual letter to Berkshire shareholders, released on Saturday,
Oliver Furrer | Cultura | Getty Images The spread of the coronavirus helped to sink the Dow Jones Industrial Average more than 900 points when the market opened on Monday. And if that decline goes past 1,000 points, it could be the biggest one-day drop since 2018. If you’re like many investors, you may be
This is a live blog. Please check back for updates. All times below are in Beijing time. 8:30 am: Japan stocks plunge around 4% Japan’s plunged 3.97% in early trade as it returned from a holiday, following a selloff in U.S. stocks overnight. The Topix index also declined 3.92%. Shares in Australia also fell sharply, with
Stock futures bounced a bit on Monday evening following the market’s worst decline in two years on coronavirus fears. Futures on the Dow Jones Industrial Average were up by 34 points, while S&P 500 futures were higher by 0.2%. The slight gains came even as after the bell United Airlines and Mastercard warned about the potential
A woman wear a protective mask in Venice, Italy, on February 23, 2020 due to concerns over coronavirus infection. The carnival was suspended due to the coronavirus outbreak in northern Italy. NurPhoto Ferrari has suspended tours of its factory and shut down museums near its headquarters following the outbreak of coronavirus in Northern Italy. Ferrari’s
Investors must take precaution about the stocks they want to put their money in because the coronavirus outbreak is disrupting supply chains of many companies, CNBC’s Jim Cramer warned on Monday. American businesses are “far too dependent” on manufacturing products in China, he said. The comments came after the three major U.S. stock indexes plunged
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