DjelicS | E+ | Getty Images Some financial advisors may be overbilling for their services. Fortunately, there are steps a client can take to protect themselves. A recent Securities and Exchange Commission investigation of advisors’ fees found several errors that resulted in clients overpaying. In some instances, advisors charged fees that differed from their contractual
Month: November 2021
Speaker of the House Nancy Pelosi, D-Calif., presides over the vote for the Build Back Better Act at the U.S. Capitol on Nov. 19, 2021. Anna Moneymaker | Getty Images News | Getty Images The House of Representatives passed legislation Friday that would curb how wealthy Americans use retirement plans. The new rules are part
In this article BABA Signage for Alibaba Group Holding Ltd. displayed at the company’s headquarters in Hangzhou, China, on Wednesday, Nov. 10, 2021. Alibaba’s annual 11.11 Singles’ Day online shopping bonanza, one that draws in hundreds of millions of people across the globe, is a more low-key affair this year as the e-commerce giant seeks
Oil pumping jacks, also known as “nodding donkeys”in a Rosneft Oil Co. oilfield near Sokolovka village, in the Udmurt Republic, Russia, on Friday, Nov. 20, 2020. Bloomberg | Bloomberg | Getty Images Oil prices fell to a six-week low on Friday as new Covid lockdowns sparked demand concerns just as industry players signal a return
Getty Images Many Americans are having a crisis of confidence when it comes to whether their savings will meet their retirement goals. To that point, 52% of working Americans feel they are behind on their retirement savings, according to a new survey from Bankrate.com. They may be on to something. There’s a $4 trillion difference
Amazon and Blue Origin founder Jeff Bezos provides the keynote address at the Air Force Association’s Annual Air, Space & Cyber Conference in Oxen Hill, MD, on September 19, 2018. Jim Watson | AFP | Getty Images Jeff Bezos’ Blue Origin this fall raised its offer to cover NASA costs of an astronaut lunar lander by more
Bill Gates can see how the Covid pandemic becomes manageable by next summer — and his roadmap is surprisingly simple. On Wednesday, the billionaire philanthropist and Microsoft co-founder listed the two key steps that he thinks will help conquer Covid, in an interview at the Bloomberg New Economy Forum. According to Gates, the path forward
Traders during the Sweetgreen initial public offering (IPO) in front of the New York Stock Exchange (NYSE) in New York, on Thursday, Nov. 18, 2021. Michael Nagle | Bloomberg | Getty Images Stock futures edged up in overnight trading on Thursday as the S&P 500 aims to post a winning week. Futures on the Dow
In this article M The entrances at Macy’s are decorated with Christmas decorations on December 04, 2020 in New York City. Roy Rochlin | Getty Images Entertainment | Getty Images Macy’s on Thursday reported fiscal third-quarter earnings and sales that topped analysts’ expectations, leading the department store chain to raise its full-year forecast ahead of
When the U.S. announced plans to lift an 18-month-long travel ban in September, Europeans wasted no time making plans — particularly the Brits. In the 24 hours that followed the Sept. 20 announcement, flights from London to New York City were searched 1.4 million times, according to the global travel technology company Travelport, making it
Longbows, or Yumi, have been used in Japan for centuries. But today, a handmade bamboo bow can cost over $2,000. At over 2 meters tall, these bows are difficult to handle. And making them is just as challenging. Kanjuro Shibata carves raw bamboo and inserts over 100 wedges to curve the bow. So how are
Based in Providence, Rhode Island, Lotuff Leather creates handcrafted leather goods with their team of twenty two employees. One of their most complicated bags, the Triumph Briefcase, requires a multitude of skill sets to create; from leather working, to painting, to hand-stitching. Video by Jordan Oplinger and Alan Jeffries Like this video? Subscribe: http://www.youtube.com/Bloomberg?sub_confirmation=1 Become
David Espejo | Moment | Getty Images Many Americans are suffering from sticker shock after seeing prices rise in recent months. A new survey from Country Financial finds that 88% of Americans are highly concerned about inflation. That’s as consumer prices soared to a more than 30-year record high in October, as measured by a
In this article NFLX Netflix logo Mario Tama | Getty Images News | Getty Images John Malone, regarded as one of the shrewdest media investors ever, told CNBC he saw the importance of video streaming to the evolving television ecosystem, even in the early days. In an interview that aired Thursday, the Liberty Media billionaire
In this article TSLA U.S. Senator Bernie Sanders (I-VT) greets reporters as he arrives for a vote at the U.S. Capitol in Washington, U.S. November 1, 2021. Jonathan Ernst | Reuters Tesla and SpaceX CEO Elon Musk sparred with Senator Bernie Sanders over tax policy this weekend on Twitter, and tried to provoke him again
Nominee to be the Comptroller of the Currency Saule Omarova (R) speaks with an aide as she testifies before the Senate Banking, Housing and Urban Affairs Committee during a hearing on Capitol Hill in Washington, DC, on November 18, 2021. Jim Watson | AFP | Getty Images WASHINGTON — A nomination hearing for President Joe
In this article KSS Customers leave a Kohl’s store on November 12, 2015 in San Rafael, California. Justin Sullivan | Getty Images News | Getty Images Kohl’s on Thursday said sales rose 16% in the fiscal third quarter, as shoppers turned to its stores and website for clothes and makeup. The department store raised its
In this article XLY SQ AFRM Two stocks outside the retail trade could get a boost from Black Friday shopping, ERShares’ Eva Ados says. The National Retail Federation expects 2 million more Thanksgiving weekend shoppers than last year, still below 2019’s levels but a sign that one of the year’s biggest retail holidays remains intact.
MoMo Productions | DigitalVision | Getty Images Retirees are coming out of retirement, and that’s a good sign for the labor market. Early retirements among older Americans were among the many labor distortions related to the Covid-19 pandemic, according to economists, as health risks and other factors led many to leave their jobs. But there’s
A Rivian R1T electric pickup truck during the company’s IPO outside the Nasdaq MarketSite in New York, on Wednesday, Nov. 10, 2021. Bing Guan | Bloomberg | Getty Images (Click here to subscribe to the new Delivering Alpha newsletter.) Rivian’s blockbuster initial public offering last week pushed the total exit value for U.S. public-market listings this year
Elizabeth Holmes, founder of Theranos Inc., left, arrives at federal court in San Jose, California, U.S., on Wednesday, Sept. 22, 2021. Davie Paul Morris | Bloomberg | Getty Images SAN JOSE, CALIF. – Erin Tompkins, who got her blood drawn from a Theranos device at a Walgreens in Arizona, said the test misdiagnosed her as
In this article 136-HK 3333-HK An exterior view of China Evergrande Centre in Hong Kong, China March 26, 2018. Bobby Yip | Reuters BEIJING — Indebted property developer China Evergrande is set to raise about $273 million by selling its remaining shares in film production and streaming company HengTen Networks, according to a filing released
In this article NVDA Nvidia stock rose over 3% after the reported earnings on Wednesday for its third fiscal quarter that beat expectations for both earnings and sales. The company also issued a bullish forecast for revenue in the current quarter ending in January. Here’s how it did versus Refinitiv consensus expectations for the quarter
Loading chart… CSX: “CSX is good. I will tell you that my charitable trust owns Union Pacific. … Union Pacific, I think, is a better company to own at this stage in the cycle.” Loading chart… Canopy Growth: “It likes to go down. I think that’s the ticket. It likes to go down. I like
Sanjay Shah used an obscure loophole to go from unemployed trader to $700 million whale in just a few years. Now regulators are after him for what they consider the biggest tax heist in European history. Read more about this notorious tax heist in Bloomberg Businessweek: https://www.bloomberg.com/news/articles/2020-10-06/the-unemployed-trader-who-became-a-700-million-cum-ex-exile #Storylines #Trading #BloombergQuicktake ——– Like this video? Subscribe:
Amid the nationwide labor shortage, businesses are tapping an unlikely pool of talent: teenagers. Alonzo Soliz, who runs two Tropical Smoothie Café franchises in Cedar Park, Texas, said teens now comprise 90% of his workforce. “We couldn’t get anyone to apply and when we did start hiring people, everyone wanted higher wages,” he said. Soliz
YinYang | E+ | Getty Images Do new college graduates need to work with a financial advisor? Based on the number of financial subjects they don’t understand, according to advisors, the answer is yes. “The first thing [new grads] don’t get is that they qualify to work with an advisor,” said Katelyn Bombardiere, certified financial
(Click here to subscribe to the new Delivering Alpha newsletter.) Private equity is one of the few asset classes that’s been able to outperform even public equities during the bull market. And the sector is reaping the benefits of that outperformance with 529 firms in the space raising an aggregate equity volume of $1.4 trillion over a
Mark Cuban has some simple advice for any entrepreneur looking to pitch investors: Read the room. It’s been one of Cuban’s favorite pieces of guidance since he was 22 years old, when a mentor pushed him to “listen more.” And on Friday’s episode of ABC’s “Shark Tank,” Cuban gave some similar advice to an entrepreneur
In this article TGT V TJX LCID RIVN TSLA A shopping cart is seen in a Target store in the Brooklyn borough of New York, U.S., November 14, 2017. Brendan McDermid | Reuters Check out the companies making headlines in midday trading. Target — The retail giant saw shares fall nearly 5% despite posting beats
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