Jay Clayton, who has led the Securities and Exchange Commission for the past three and a half years that included a number of major changes in financial markets, said Monday he will step down at the end of the year. “Working alongside the incredibly talented and driven women and men of the SEC has been
Month: November 2020
Two new Covid-19 testing programs may be the key to unlocking travel between the United States and Europe. Select passengers flying on American Airlines, British Airways and United Airlines flights are eligible to participate in testing programs that are evaluating whether preflight Covid-19 tests can be used to relax travel restrictions imposed by both countries.
People visit the video platform Bilibili stand during the 2020 China Digital Entertainment Expo & Conference (ChinaJoy) at Shanghai New International Expo Center on July 31, 2020 in Shanghai, China. Zhou You | Visual China Group | Getty Images BEIJING — One of the most popular video and gaming apps among China’s youth, Bilibili, decided
People walk past a Macy’s store in a Manhattan shopping district on August 12, 2020 in New York City. Following a massive drop in tourism due to the Covid-19 pandemic and a work culture that increasingly keeps people at home, New York City is seeing a large exodus of chain stores and other retail businesses.
A worker stands inside Starbucks in midtown during the coronavirus pandemic on May 20, 2020 in New York City. Noam Galai | Getty Images Starbucks is raising hourly wages for its baristas as the restaurant industry braces for a higher minimum wage when President-elect Joe Biden takes office. Starting Dec. 14, baristas, shift supervisors and
The Federal Trade Commission Building in Washington D.C. Ashley Stringer | CNBC The Federal Trade Commission has filed a civil complaint alleging “unfair or deceptive acts” by Beam Financial, a San Francisco start-up behind a savings app that purported to offer above-market interest rates on federally insured deposits. As CNBC first reported in October, dozens
GYRO PHOTOGRAPHY | amana images | Getty Images Growing rapidly within the socially responsible investing landscape is the world of so-called impact investing, which deploys your money more directly toward solving societal problems. Largely executed through direct investing platforms, this approach addresses specific problems, such as alleviating poverty in certain communities or reducing pollution. These
A CVS Pharmacy store is seen in the Manhattan borough of New York City, New York. Shannon Stapleton | Reuters Pharmacy stocks fell sharply on Tuesday after Amazon launched its new Pharmacy offering, which includes online ordering and delivery for prescription drugs. Dow Jones Industrial average member Walgreens Boots Alliance dropped more than 11% in
Post-election, many conservatives, and some extremists, have been heading to Parler, a conservative social media app funded by Republican megadonor Rebekah Mercer, which bills itself as a free speech Twitter-spin off. But billionaire Bill Gates isn’t a fan of the platform, calling some of its content “crazy stuff.” If somebody goes to Parler, they are
Google Pay Source: Google Google is moving deeper into consumer finance. The tech giant will let users open bank accounts, pay friends and manage budgets through a new version of its Google Pay app rolling out Wednesday. The Mountain View, California-based company partnered with Citi and Stanford Federal Credit Union to launch the mobile bank
Jen-Hsun Huang, president and chief executive officer of Nvidia Corp., speaks during the company’s event at Mobile World Congress Americas in Los Angeles, California, U.S., on Monday, Oct. 21, 2019. Patrick T. Fallon | Bloomberg | Getty Images Nvidia beat analyst expectations on both earnings and revenue in its fiscal fourth quarter but shares barely
Ten years ago, General Motors made its second debut on the New York Stock Exchange in what was then the largest initial public offering in U.S. history — ushering in a new era of renewed optimism for the company and U.S. economy after emerging from bankruptcy in the Great Recession. Then-CEO Dan Akerson rang the
China’s regulators put a stop to what would have been the biggest listing in history at the last minute angering both the company and investors looking to buy Ant shares. The FT’s Asia markets correspondent Hudson Lockett explains why they did it. See if you get the FT for free as a student (http://ft.com/schoolsarefree) or
[embedded content] [The stream is slated to start at 2 p.m.. ET. Please refresh the page if you do not see a player above at that time.] The Path Forward: Your Money virtual summit brings together some of the top experts in personal finance to provide critical advice on spending and saving, and examine the
Tesla is joining the S&P 500 in December, but given the electric vehicle company’s size, adding it to the index is no easy feat, said CNBC’s Jim Cramer. “I think they’re baffled,” he said Tuesday of the index provider S&P Dow Jones Indices. “I really don’t think they know how to handle this … they
A view of a person wearing mask passing by a Macy’s in Herald Square amid the coronavirus (COVID-19) outbreak on March 24, 2020 in New York City. John Nacion | NurPhoto | Getty Images The stage is set for China to become the world’s biggest luxury market by 2025, according to a new report. In
A bitcoin logo on a mobile phone. Omar Marques | SOPA Images, LightRocket | Getty Images Bitcoin just climbed past $18,000 for the first time since December 2017, extending a wild run for the cryptocurrency this year. The price of bitcoin was trading about 8.6% higher Wednesday morning at $18,172, breaching a level it hasn’t
People wearing masks avoid social distancing as they wait in line to enter Target in Herald Square amid the coronavirus pandemic on May 16, 2020 in New York City. Alexi Rosenfeld | Getty Images Target is set to report its third-quarter earnings on Wednesday before the bell. Here’s what Wall Street is expecting in the
Pfizer and BioNTech said Wednesday that a final data analysis found their coronavirus vaccine was 95% effective in preventing Covid-19 and, in addition, appeared to fend off severe disease. The vaccine, called BNT162b2, was highly effective against the virus 28 days after the first dose, and its effectiveness was consistent across all ages, races and
Images By Tang Ming Tung If you still haven’t received your $1,200 stimulus check, you may be in luck. There’s one last deadline to submit your information to the government in order to get your payment this year. But you have to act before 3 p.m. this Saturday, Nov. 21. If you miss that cutoff,
Nitat Termmee | Moment | Getty Images The good news is that surging markets have boosted investor portfolios this year. Now for the bad news: Some of those people will be owing the taxman. That’s because mutual funds distribute capital gains to their shareholders near the end of the year. At this point, fund providers
Relativity Space’s third generation 3D-printer in its new headquarters, with CEO Tim Ellis standing by for scale. Relativity Rocket builder and 3D-printing specialist Relativity Space is raising $500 million of fresh capital in a new round being led by Tiger Global Management, people familiar with the financing told CNBC on Tuesday. The new fundraise, expected
In 2009, Airbnb was clawing towards “ramen profitability,” or just enough profit to pay for basic expenses — with the expression playing off the ultracheap instant Japanese noodles people famously eat when they are saving money, which today cost as little $4.80 for a 24 pack. That January, Airbnb’s co-founder and CEO, Brian Chesky, emailed
U.S. stock futures were flat in overnight trading on Tuesday as investors digested the recent record rally in equities. Dow futures fell 21 points. Futures for the S&P 500 and Nasdaq-100 fell 0.04% and 0.03%, respectively. On Tuesday, the Dow Jones Industrial Average fell more than 167 points, dragged down by Walgreens, Home Depot and
Kohl’s shares rose more than 5% Tuesday, after Chief Executive Michelle Gass laid out the retailer’s plans to expand in activewear and personal care in 2021, two hot pockets of growth that have accelerated during the coronavirus pandemic. Kohl’s reported a 13.3% decline in quarterly net sales during its third quarter, as the pandemic limited
Exterior view of Villa Firenze in Beverly Hills, California Concierge Auctions A $160 million mansion in Beverly Hills, California, is headed to the auction block, making it the most expensive listing ever to auction. The nine-acre estate, called Villa Firenze, will be sold to the highest bidder, with no reserve, by Concierge Auction next month.
Lotus silk is one of the rarest fabrics in the world. Produced only in small scale across Cambodia, Myanmar, and more recently Vietnam, this natural fibre is only extracted by a few skilled craftspeople across the world. But making this “silk” isn’t easy. Extracting enough lotus silk for one scarf can take two months, and
Mercedes Ruehl, Asian technology correspondent, explains why the boom in Asian financial technology is facing its first serious setback as businesses focused on providing services to the vast number of people in the region without bank accounts struggle to cope with the fallout from coronavirus. See if you get the FT for free as a
Fifty years ago, a helicopter company called New York Airways whisked passengers from the rooftop of the iconic Pan Am Building in midtown Manhattan to any city airport in just 10 minutes. A fatal accident in 1977 brought that era to an end. 40 years later, E-VTOL technology could open a new chapter in short-distance
Zak Williams, son of Robin Williams, is co-teaching a financial literacy class at San Quentin State Prison with an inmate who goes by ‘Wall Street’
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