An employee hands a customer a shopping bag at an Old Navy Inc. store in San Francisco. David Paul Morris | Bloomberg | Getty Images Gap Inc. announced Thursday that the CEO of its Old Navy division, Nancy Green, is leaving the business this week. In light of execution challenges within its Old Navy business,
Month: April 2022
Stock futures were flat in overnight trading Thursday as the S&P 500 tried to avoid another losing week amid busy earnings and rising bond yields. Futures on the Dow Jones Industrial Average dipped 20 points. S&P 500 futures and Nasdaq 100 futures both traded 0.1% lower. The overnight action followed a dramatic reversal Thursday that
Kevin Costner knows a good story when he hears one. That’s why he said he was intrigued when he heard about an app designed to alert travelers of notable, yet often unnoticed, places of interest along their journeys. “I’m the guy that driving around America … when you see those bronze markers along the
The U.S. Supreme Court in Washington, D.C. Al Drago | Bloomberg | Getty Images Efforts to expand a federal program for disabled, elderly and blind Americans suffered a setback on Thursday when the Supreme Court ruled that Puerto Rico residents should be excluded from receiving those benefits. The program, called Supplemental Security Income, or SSI,
The deeper you dig into the investment costs state and local pensions disclose, the more questions arise. It’s confusing to even the most sophisticated investors. It’s common knowledge that sponsors of retirement plans have a fiduciary duty to ensure the fees their plans pay Wall Street money managers for investment advice are reasonable. Fees paid
Today’s Social Security column addresses questions about whether income after 70 can increase benefit rates, taking retirement benefits before survivor’s benefits and how the earnings test is applied if your income ends in the middle of the year. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic
Rising housing costs—both for houses and apartment rents—are a mystery. This is the story that Agatha Christie might have written, if Mrs. Marple were a retired economist. The solution to the mystery suggests that housing prices and rents will soon level off, perhaps even falling in some areas. Single family home prices increased by 18%
In this article SGRE-ES An offshore wind turbine in waters off Taiwan. Taiwan’s Ministry of Economic Affairs says it’s targeting 20% renewable energy generation by the middle of this decade. Billy H.C. Kwok | Bloomberg | Getty Images A large-scale offshore wind farm in waters off the coast of Taiwan has produced its first power,
CEO of Snap Inc. Evan Spiegel walks to a morning session at the Allen & Company Sun Valley Conference on July 07, 2021 in Sun Valley, Idaho. Kevin Dietsch | Getty Images Snap missed Wall Street expectations for profit and sales, and forecast disappointing revenue growth in the current quarter, when it reported first-quarter results
Tesla’s Shanghai factory was “back up and running” as of Wednesday, according to CEO Elon Musk’s comments during a quarterly earnings call, per a StreetAccount transcript. This picture shows the factory on the outskirts of Shanghai in July 2021. Vcg | Visual China Group | Getty Images BEIJING — Foreign businesses are struggling to bring
In this article DIS A view of the Walt Disney World theme park entrance on July 11, 2020 in Lake Buena Vista, Florida. Octavio Jones | Getty Images A bill that would repeal Disney’s self-government status in Florida could leave local taxpayers with more than $1 billion in bond debt, according to tax officials and
Fizkes | Istock | Getty Images For some consumers, medical debt they don’t even owe appears to ends up haunting them anyway. Complaints jumped 31% from 2018 to 2021 about debt collectors attempting to get consumers to fork over amounts that already were paid or otherwise not owed, according to a new report from the
Today’s financially savvy teens are thinking a lot about cryptocurrency, blockchain and NFTs. Many are curious about how they should start investing in the often-volatile asset class. Experts say that new investors don’t need to shy away from cryptocurrency but should educate themselves on the asset class and take the necessary precautions to be protected
Topline The stock market reversed gains and moved lower on Thursday following comments from Federal Reserve Chair Jerome Powell, who signaled aggressive interest rate hikes ahead while all but confirming market expectations of a half-percentage point increase at the central bank’s next policy meeting in May. Key Facts Stocks rose earlier in the day thanks
What will deliver higher returns over the next 12 months, I bonds or bitcoin? A year ago such a question would have been silly. Today, not so much. Bitcoin BTC has struggled in 2022, down more than 10%. In contrast, I bonds are set to deliver an estimated 9.62% annualized return starting next month. Here’s
Stacie, Simba, Gleep Glop, Richard and Cookie are just some of the robots that line the floor of the manufacturing facility at Autovol in Boise. The robots were named in a contest by the children of the solutioneers who work at the 400,000-square-foot offsite construction facility. More than 200 solutioneers work there and enjoy the
A Jeep Wrangler Rubicon sits on an outdoor track during the press preview of the International Auto Show at the Jacob Javits Convention Center in New York City on April 13, 2022. Timothy A. Clary | AFP | Getty Images Warner Bros. Discovery is shutting down CNN+ on April 30, just weeks after the standalone
In this article UAL United Airlines expects to turn a profit in 2022 for the first time since before the pandemic as bookings rise and passengers appear willing to pay more to fly. United’s shares rose more than 7% in after-hours trading Wednesday after it releasing an upbeat outlook. The forecast suggests airlines are at
Federal Reserve Chairman Jerome Powell affirmed the central bank’s determination to bring down inflation and said Thursday that aggressive rate hikes are possible as soon as next month. “It is appropriate in my view to be moving a little more quickly” to raise interest rates, Powell said while part of an International Monetary Fund panel
Georgijevic | E+ | Getty Images If you had a surprise tax bill this filing season, it may be time to adjust your withholdings, financial experts say. Whether you’re a W-2 employee or self-employed, the IRS expects an ongoing piece of your income, paid through withholdings or quarterly payments. As of April 8, nearly 68% of
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