Passengers wait to get on a Hertz shuttle bus at Los Angeles International Airport. Patrick T. Fallon | Bloomberg | Getty Images To get a slice of one of the market’s most epic rallies, investors are snapping up stocks everywhere including shares in bankrupt companies, which in theory will be worth nothing. Hertz, Whiting Petroleum, Pier 1 and
Johannes Eisele/Getty Images The country is in a recession and it’s certainly unclear how long this downturn could last. Chances are that you or someone you know has taken a financial hit because of the sudden downturn. Now, the National Bureau of Economic Research has determined that the U.S. entered into a recession in February.
President Donald Trump conducts a bill signing ceremony with members of his economic team in the Rose Garden at the White House on June 05, 2020. (Photo by Chip Somodevilla/Getty Images) A conspiracy theory has emerged relative to the unemployment rate, suggesting that the Trump administration rigged official statistics to give the illusion of a
This discussion has been fairly positive with regard to the role of income annuities as a retirement income tool. My explanations follow standard academic theory regarding income annuities and their role in pooling longevity risk and providing mortality credits. Without this risk pooling, retirees must be needlessly conservative in their spending to ensure they still
Getty You can go from house poor — spending too much or at least more than you’d like on housing — to becoming house rich and you don’t necessarily need to downsize your home to extract more value from it. In our case, we upsized our home while still netting a big sum. Covid-19 has
Nearly 81% of renters paid their rent in the first week of June, on par with last month. Yet, fewer … [+] Americans are signing new leases. Getty In the first week of June, rent payments beat the expectations for a sizable decline in collections due to the prolonged coronavirus-triggered economic insecurities. Yet, lackluster new
A store stands closed near Wall Street as the coronavirus keeps financial markets and businesses mostly closed on May 08, 2020 in New York City. Spencer Platt | Getty Images One result of the coronavirus pandemic could be as many as 25,000 store closures announced by retailers this year, as the crisis takes a toll on many
Macy’s at Valencia Town Center Mall opens for curbside pickup service during COVID-19 outbreak on May 21, 2020 in Santa Clarita, California. Robin L Marshall | Getty Images Macy’s shares soared Tuesday as the company released its preliminary financial results, saying it is regaining customers at reopened stores much quicker than it expected. With the retailer’s stores
7:27 am: Airlines, cruise lines drop premarket Investors shifted away from stocks that are expected to benefit from the economy reopening on Tuesday. Airlines and cruise lines have been on a tear as market participants bet on a return in travel demand; however, the equities fell in premarket trading on Tuesday. American Airlines fell 7%
French luxury giant LVMH said on October 28, 2019 it was exploring a takeover of US jewellers Tiffany, most famous for its fine diamonds and luxury wedding and engagement rings. STEPHANE DE SAKUTIN | AFP | Getty Images Tiffany & Co. said its jewelry business is rebounding in China after the coronavirus pandemic and its merger
Nikola Motor’s Tre semi-truck. Nikola Motor Company Speculative traders are betting big that Tesla won’t be the only successful company of the future named for inventor Nikola Tesla. Shares of Nikola Corporation, which makes battery-electric and hydrogen-electric trucks, jumped more than 20% on Tuesday shortly after the open, before reversing course and plunging more than 20%. At
Just as many U.S. businesses were thrown off their guard by the coronavirus pandemic, so were financial advisory practices. Close to 1.8 million Americans have contracted Covid-19, and more than 100,000 people have perished from the disease, according to data from Johns Hopkins University. Lockdowns to minimize spread of the disease have also battered the
Colorado residents are dining out in the patio area at Los Chingones restaurant in Denver Source: TAG Restaurant Group Chef Troy Guard is hoping to bring back all of the 623 employees he had to furlough across his restaurant chain when Colorado Gov. Jared Polis ordered all bars, restaurants, theaters, gymnasiums and casinos to close on March
Huntington, N.Y.: The exterior of the Huntington senior center, used for overflow beds from … [+] Huntington Hospital during the coronavirus pandemic. (Photo by Steve Pfost/Newsday RM via Getty Images) Newsday via Getty Images The way we care for older adults in the US is, self-evidently, not working. In just the past three months, at
Tax returns are due April 15 most years, but 2020 has hardly been a normal year. The IRS moved the big April 15 tax filing deadline to July 15, but that will be here before you know it. There was widespread speculation that the IRS would extend the July 15 deadline further, but the IRS
Michael Herd is selling his family compound on Lake Austin for $28.5 million. Jake Holt for Kuper Sotheby’s International Realty Michael Herd, an oil and gas heir who is married to Whitney Wolfe Herd, founder of social and dating app Bumble and co-founder of Tinder, has placed his family’s three-home compound in Austin, Texas, on
Hong Kong police control access to a street in the central Mongkok neighbourhood during the demonstrations. A new wave of protests rise in Hong Kong at the news that the Chinese government will unilaterally pass the National Security Law 23. SOPA Images Like most economies, Hong Kong should have a national security law — even
It appears a major shift is underway in the bond market. BofA Global Research’s Mark Cabana sees an improving jobs market adding fuel to the Treasury yield rally and providing some relief to the Federal Reserve ahead of Tuesday’s policy meeting. “We were really thinking that the economy would still really struggle to rebound in
Who are the three types of travelers most likely to travel internationally this summer? If you guessed the jet-setting elite, adventure enthusiasts and once-in-a-lifetime honeymooners, you’d be wrong. A new report by Sentimantle, a service that advises tourism and airline clients, has identified the types of travelers who are most likely to venture abroad first.
Kenneth Fisher, chief executive officer of Fisher Investments, speaks at the Forbes Global CEO Conference in Sydney, Australia, on Tuesday, Sept. 28, 2010. Gillianne Tedder | Bloomberg | Getty Images Money-manager Ken Fisher said last week that legendary investor Warren Buffett’s decision to sit on the sidelines during the coronavirus crisis is likely due to