Ron Baron, founder of Baron Capital, is a Tesla shareholder and a big believer in Elon Musk’s vision of the future. Baron believes Tesla can grow sales to $1 trillion in 12 years. Anjali Sundaram | CNBC Billionaire investor Ron Baron told CNBC on Monday he believes Tesla’s bitcoin purchase is “not surprising,” but the longtime
Month: February 2021
Instability in financial markets and personal finances over the course of 2020 may have significantly altered our relationship with money, according to new research, which suggests people have more faith in robots than humans to manage their cash. Over three-quarters (76%) of consumers in Asia-Pacific said they would now trust a robot more than a
The red hot SPAC market is getting even hotter in 2021, raising concerns about rampant speculation detached from reason that could leave retail investors fresh off the GameStop bust holding the bag. Not only are special purpose acquisition companies raising a record level of capital — more than $30 billion so far for its biggest
GM CEO and chairman Mary Barra speaks during an “EV Day” on March 4, 2020 at the company’s tech and design campus in Warren, Mich., a suburb of Detroit GM General Motors is set to report its fourth-quarter earnings before the bell on Wednesday. Here’s what Wall Street is expecting, based on average analysts’ estimates
An employee outside a Target store in Clifton, N.J. Adam Jeffery | CNBC Target will join a growing list of companies that are offering extra pay and other incentives to try to nudge employees to get a Covid-19 vaccine. The retail chain said Wednesday that it will offer all of its hourly employees up to
sturti | E+ | Getty Images Democrats are forging ahead with plans to send millions of Americans $1,400 stimulus checks. Their most recent proposal sheds light on just who could be eligible for the money once it’s approved. The House of Representatives unveiled its legislative drafts on Monday. Democrats, under the leadership of President Joe
The contents of the Starlink Kit for customers, which includes the satellite antenna dish, a stand, its power supply, and a WiFi router. SpaceX SpaceX once again widened the scope of the public beta test of its Starlink satellite internet service, with Elon Musk’s company on Monday beginning to accept preorders from potential customers. Prospective
In October 2011, I moved to New York to pursue my dream of becoming a writer. I’d graduated from Boston University in 2008 with $85,000 in student loan debt. Although I’d made some payments, by the time I moved I was closer to $90,000 in the hole due to mounting interest. I juggled multiple jobs
U.S. stock were flat in overnight trading on Tuesday following the regular session that snapped a six-day winning streak on Wall Street. Dow futures rose 35 points. S&P 500 futures gained 0.14% and Nasdaq 100 futures rose 0.13%. Better-than-expected earnings from Twitter, Lyft, Cisco Systems, Mattel and Yelp boosted sentiment on Wall Street. Lyft reported
Twitter and Square CEO Jack Dorsey speaks during a press event at CES 2019 on January 9, 2019 in Las Vegas, Nevada. David Becker | Getty Images News | Getty Images Twitter’s stock was flat in after-hours trading on Tuesday after the company reported its fourth-quarter earnings, as the company beat Wall Street’s earnings and
Alex Gorsky, Chairman and CEO of Johnson & Johnson, celebrates the 75th anniversary of his company’s listing on the floor at the New York Stock Exchange, September 17, 2019. Brendan McDermid | Reuters People may need to get vaccinated against Covid-19 annually, just like seasonal flu shots, over the next several years, Johnson & Johnson
Stefani Reynolds/Bloomberg via Getty Images Millions of Americans will get tax forms for unemployment benefits this filing season. However, many will get them in error due to fraud, creating a potential headache for recipients. At least $36 billion has been lost to improper unemployment payments, largely due to fraud, by early November, according to an
Billionaire investor Sam Zell told CNBC on Tuesday that some deals involving special purpose acquisition companies remind him of the speculation in internet companies during the 1990s dot-com bubble. In an interview on “Squawk Box,” Zell said he believes SPACs do offer positive benefits for investors who buy in at the creation of the so-called blank check
Self-made billionaire Mark Cuban, investor on ABC’s “Shark Tank” and owner of the Dallas Mavericks, often attributes his success to his commitment to life-long learning. But “the most underrated thing” about Cuban is a skill he honed working at a bar in college, Cuban’s former statistics professor at Indiana University, Wayne Winston, reportedly told podcast
If anybody on Wall Street is due a victory lap, it’s Daniel Pinto. The head of JPMorgan Chase‘s massive corporate and investment bank is fresh off a year for the record books: Pinto’s business produced $49.3 billion in revenue and $17.1 billion in profit in 2020, more earnings than JPMorgan’s three other divisions combined. But
A man waits for pharmacist Joe Borge in Danvers, MA on Feb. 1, 2021. On the first day of Phase 2 of the COVID-19 rollout, seniors, 75 and over, get vaccinated in the Walgreens Pharmacy, at 107 High Street, in Danvers. Pat Greenhouse | Boston Globe | Getty Images Walgreens and Uber are teaming up
bymuratdeniz | E+ | Getty Images With all of Medicare‘s different rules for enrolling, it’s not unheard of to miss your signup deadline. Now is the time to remedy that. During a general enrollment period that opened Jan. 1 and closes March 31, anyone who did not enroll when they should have (as defined by
Robinhood was sued Monday for wrongful death by the family of Alex Kearns, a 20-year-old customer who took his life last summer after believing he had racked up big losses on the millennial-favored stock trading app. “This case centers on Robinhood’s aggressive tactics and strategy to lure inexperienced and unsophisticated investors, including Alex, to take
Dogecoin, a cryptocurrency that originally started as a joke in 2013, is now surging as billionaires like Elon Musk and celebrities like Snoop Dogg tweet their interest. Among those billionaires is Mark Cuban. Don’t get him wrong, Cuban realizes dogecoin has no intrinsic value — but it sure is fun. “Dogecoin is less than a
Automated teller machines of the three Singapore-listed banks: OCBC, DBS and UOB. Munshi Ahmed | Bloomberg | Getty Images SINGAPORE — Singapore’s three largest banks could receive a boost in profitability this year after a challenging 2020, as economic activities recover on the back of the city-state’s relative success in controlling the pandemic. That brighter
Cristiano Amon, president of Qualcomm and Qualcomm CDMA Technologies, responds to a question during a panel discussion on 5G wireless broadband technology during the 2018 CES in Las Vegas, Nevada, U.S. January 10, 2018. Steve Marcus | Reuters Qualcomm reported first quarter earnings after the bell Wednesday. Adjusted earnings beat expectations but Qualcomm’s sales were
Jeff Bezos would owe about $2 billion a year in state income taxes under Washington’s proposed wealth tax, according to legislators. As part of an effort to reduce inequality and offset the state’s lack of an income tax, Washington state legislators are proposing a 1% levy on wealth over $1 billion. Lawmakers say the tax
Narisara Nami | Moment | Getty Images With health care more critical than ever these days, it should come as no surprise that 2 out of the 3 best jobs in the U.S. are in that field. Like many industries, the health-care sector has been hit by the Covid crisis, with employment down by 542,000
Hundreds of unemployed Kentucky residents wait in long lines outside the Kentucky Career Center for help with their unemployment claims on June 19, 2020 in Frankfort, Kentucky. While the economic recovery has brought back jobs since the lowest point of the Covid-19 crisis, millions of Americans remain unemployed. John Sommers II There is a contentious
sturti | E+ | Getty Images The tax competition between states to attract and keep businesses and residents has been ongoing for decades. The national migration pattern has generally trended from cold, high-tax northern states to warm, low-tax southern and south western states. Retirees, no longer tied to a workplace or raising children, have been
The reflection of bitcoins in a computer hard drive. Thomas Trutschel | Photothek via Getty Images Bitcoin’s price jumped sharply to an all-time high after Tesla revealed a big stake in the digital coin and said it would start accepting payments in bitcoin in exchange for its products. The world’s largest cryptocurrency last traded 12%
Shoppers pass a Coach display in Macy’s, New York. Scott Mlyn | CNBC Coach-owner Tapestry said Thursday its sales fell 7% during the holiday quarter as the retailer tries to claw its way back from the losses seen during the pandemic. The company appeared more optimistic, however, about shopper demand strengthening later this year, but
Target’s activewear brand All in Motion is one of 10 brands at the retailer that have reached $1 billion in sales. Target Target launched its own line of workout clothes and exercise equipment about a year ago. Two months later, the pandemic turned much of the country into stretchy pants-wearing remote workers who converted garages
Sen. Bernie Sanders, I-Vt., speaks during an event to introduce the Raise The Wage Act at the U.S. Capitol on Jan. 16, 2019. Chip Somodevilla | Getty Images Senate Democrats passed a budget resolution early Friday, the latest step towards approving President Joe Biden’s $1.9 trillion stimulus plan by a simple majority without Republican votes.
A pedestrian and cyclist wear facemasks outside a branch of department store chain Nordstrom in Santa Monica, California on May 11, 2020. Frederic J. Brown | AFP | Getty Images Nordstrom said Thursday it expects revenue to rise more than 25% in fiscal 2021 from the prior year, with roughly half of its sales coming
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