Lifestylevisuals | E+ | Getty Images Adjustable-rate mortgages are making a comeback. With interest rates surging, more buyers are turning to ARMs, which offer lower initial rates than fixed-rate loans. However, after a certain period, the rate on the ARM adjusts to reflect current market conditions. “You have double the number of borrowers out there
Month: April 2022
Golibtolibov | Istock | Getty Images Taxing the wealthy is a big topic in Washington these days. President Joe Biden recently proposed in his 2023 annual budget a so-called billionaire minimum income tax that would increase levies on the country’s wealthiest households. Under the plan, people with a net worth of $100 million or more
In this article VRRM Thomas Winz | The Image Bank | Getty Images Company: Verra Mobility (VRRM) Business: Verra Mobility operates through two segments: (i) Commercial Services: the market-leading provider of automated toll and violations management and title and registration solutions to rental car companies, fleet management companies, municipalities, school districts and violation issuing authorities;
A new study shows American travelers view many Asian nations as safer travel destinations now than they did four years ago. South Korea, Singapore, Thailand, Japan, China and Vietnam rose in the annual safety rankings published by travel insurance provider Berkshire Hathaway Travel Protection. The survey in the 2022 “State of Travel Insurance Report” also
In this article BRK.A Berkshire Hathaway CEO Warren Buffett lambasted Wall Street for encouraging speculative behavior in the stock market, effectively turning it into a “gambling parlor.” Buffett, 91, spoke at length during his annual shareholder meeting Saturday about one of his favorite targets for criticism: investment banks and brokerages. “Wall Street makes money, one
In this article BRK.A Warren Buffett Gerry Miller | CNBC Warren Buffett’s Berkshire Hathaway reported Saturday a decline in first-quarter earnings, as the conglomerate was not immune to a slowing U.S. economy. The company’s net earnings came in at $5.46 billion, down more than 53% from $11.71 billion in the year-earlier period. Berkshire’s operating earnings
A first of its kind inclusive complex, the RWJBarnabas Health Field of Dreams, will open Saturday in Toms River, New Jersey. The grand opening of the $3.6 million facility comes after nearly five years of planning and pandemic-related delays and challenges. The Toms River complex will focus on serving children with physical and social disabilities.
Getty Images If you’re eligible for health savings account contributions, you can deposit more money starting in 2023, thanks to an inflation adjustment from the IRS. In 2023, you can save up to $3,850 with an individual health insurance plan, up from $3,650 in 2022, the IRS announced Friday. And you can soon contribute up
miodrag ignjatovic | E+ | Getty Images If you have a Medicare supplement plan — aka, Medigap — there may be times when it’s worth making sure it’s still the best fit for you. Medigap policies are standardized — same-named plans offer identical benefits no matter which private insurance company sells it — but the
Ipggutenbergukltd | Istock | Getty Images Despite the pandemic, most Americans still feel optimistic about a comfortable retirement, but inflation is the top concern among those who aren’t as prepared. That’s according to the Employee Benefit Research Institute and Greenwald Research 32nd annual Retirement Confidence Survey polling 2,677 workers and retirees in January. “Even with
In this article BRK.A Berkshire Hathaway Annual Shareholder Meeting signage in Omaha, Nebraska, April 29, 2022. David A. Grogan | CNBC Berkshire Hathaway shareholder meeting’s pregame is nothing short of an extravaganza. Thousands of Berkshire shareholders flocked to Omaha, Nebraska this weekend for the annual meeting Saturday. Before hearing from Warren Buffett and Charlie Munger,
In this article INTC Intel shares fell 4% in extended trading on Thursday after the chipmaker issued a lower-than-expected forecast for its fiscal second quarter. Here’s how the company did: Earnings: 87 cents per share, adjusted, vs. 81 cents as expected by analysts, according to Refinitiv. Revenue: $18.35 billion, vs. $18.31 billion as expected by
Loading chart… Johnson Controls International Plc: “It’s just very cheap.” Loading chart… Star Bulk Carriers Corp: “The way this stock is priced, the dividend’s going to be cut. I don’t know if that’s the case. … This is what I almost would call too good to be true.” Loading chart… Principal Financial Group Inc: “I
Gina Champion-Cain was a pillar of the San Diego business community. She also happened to be running one of the largest Ponzi schemes of all time. #Money #Storylines #BloombergQuicktake ——– Like this video? Subscribe: http://www.youtube.com/Bloomberg?sub_confirmation=1 Become a Quicktake Member for exclusive perks: http://www.youtube.com/bloomberg/join Subscribe to Quicktake Explained: https://bit.ly/3iERrup QuickTake Originals is Bloomberg’s official premium video
Luis Alvarez | Digitalvision | Getty Images The surge in worker pay that was a key feature of the 2021 labor market showed signs of fading early this year, as businesses’ demand for workers has moderated a bit from last year’s record levels. Wages and salaries in the private sector grew by 5% in the
Newly minted graduates are in for a shock. Although the job market and starting salaries for the Class of 2022 look significantly better than last year, they may fall far short of graduates’ expectations. Employers plan to hire about 31% more new degree holders from this year’s graduating class than they hired from the Class
In this article HOOD Retail brokerage firm Robinhood reported a wider-than-expected loss and shrinking revenue for the first quarter, showing signs that the small-dollar trading boom that captivated Wall Street a year ago may have run out of steam. Shares of the company were down more than 11% in after hours trading, hitting all-time lows.
Mark Cuban thinks TikTok — or, at least, its style of short-form video – is here to stay, and for a potentially unexpected reason. On a recent episode of “The Colin Cowherd Podcast,” hosted by Fox Sports anchor Colin Cowherd, Cuban called TikTok “the future of sports media,” noting that the app’s AI-fueled algorithms tailor
Russia faces renewed threat of debt default on May 4, according to major ratings agencies, as the grace period comes to a close after it attempted to service its dollar bond payments in Russian rubles. Mikhail Tereshchenko | Sputnik | via Reuters Russia’s Finance Ministry said Friday that it had attempted overdue dollar payments on
In this article AAPL Apple CEO Tim Cook greets customers at the new Apple Store on Broadway in downtown Los Angeles, California, U.S., June 24, 2021. Lucy Nicholson | Reuters Apple will report second-quarter earnings on Thursday after the bell. Here’s what Wall Street is expecting from Apple in the second quarter, according to Refinitiv
Medical syringes and Novavax logo displayed in the background are seen in this illustration photo taken in Krakow, Poland on December 2, 2021. Jakub Porzycki | NurPhoto | Getty Images The Food and Drug Administration’s independent advisors will meet in June to discuss Novavax’s Covid vaccine for adults as well as Pfizer and Moderna’s shots
Mint Images | Mint Images Rf | Getty Images Americans may be getting more information about a big financial choice regarding pension benefits. Pension plans traditionally pay retirees monthly streams of income that last for the rest of their lives. Companies may also offer a lump sum to current and former employees, allowing them to
Tetra Images | Tetra images | Getty Images There’s a recent uptick in states swapping tiered income taxes for a flat tax, charging the same rate to all residents, regardless of earnings. Over the past 100 years, only four states have changed from graduated rates to flat taxes, according to the Tax Foundation. Another three
(Click here to subscribe to the Delivering Alpha newsletter.) Mathieu Chabran helms Tikehau Capital, a European asset manager, which oversees $40 billion in private debt, real assets, private equity, and capital markets. With a front row seat to the uncertainty and geopolitical tension in Europe, Chabran sat down with the Delivering Alpha newsletter to discuss the role
In this article TSLA TWTR Tesla head Elon Musk talks to the press as he arrives to have a look at the construction site of the new Tesla Gigafactory near Berlin on September 03, 2020 near Gruenheide, Germany. Maja Hitij | Getty Images The world’s richest person could soon add another title to his name
Europe’s fintech sector is fiercely competitive, with privately-held start-ups worth tens of billions of dollars vying to steal market share from incumbent banks. Oscar Wong | Moment | Getty Images LONDON — Nium, a $2 billion digital payments start-up based out of Singapore, has big plans for its European business. The company, whose software helps
In this article AMZN Amazon CEO Andy Jassy speaks with CNBC’s Jon Fortt. CNBC Amazon will report first-quarter earnings after the bell on Thursday. Here’s what Wall Street is expecting: Earnings: $8.36 per share, according to Refinitiv Revenue: $116.3 billion, according to Refinitiv Here are some other key revenue numbers: Amazon Web Services: $18.27 billion
In this article WMT Fashion designer Michelle Smith and SoulCycle instructor Stacey Griffith are debuting their activewear line, Love & Sports, at Walmart. The line is designed to be fashion-forward, with vibrant colors and unique fabrics. Walmart Over the past two years, fashion designer Michelle Smith and SoulCycle instructor Stacey Griffith have touched dozens of
Building wealth is cool. That’s a mantra of Modern Blk Girl, a community aimed at teaching Black women the importance of investing and wealth creation that was founded by Tiffany James when she was just 25. Like most newly minted college graduates, James had student loan debt and was living just barely within her means
Israel Sebastian | Moment | Getty Images There are some financial goals more pressing for adults right now than bulking up their nest egg. For 2022, just 17% have made saving for retirement their top financial priority, according to First National Bank of Omaha‘s latest financial wellness survey. And nearly half of respondents — 46%
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