Volkswagen rigged 11 million vehicles to cheat on emissions tests, costing the company billions in fines and fixes. Here’s a breakdown of the scandal.
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Ozge Yagmur / EyeEm | EyeEm | Getty Images Voters in four states on Tuesday greenlighted measures to legalize and tax recreational marijuana for adults. Arizona, Montana, New Jersey and South Dakota have joined the 11 states that have already legalized recreational pot. Those other states are Alaska, California, Colorado, Illinois, Maine, Massachusetts, Michigan, Nevada,
President Donald J. Trump dances at the end of the rally just before he leaves. Ben Hasty | MediaNews Group | Getty Images SINGAPORE — Asia investors should focus on the strong data coming out of the region instead of the outcome of the U.S. election, said Aberdeen Standard Investments’ Head of Asian Sovereign Debt
Amazon CEO Jeff Bezos Alex Wong | Getty Images Amazon CEO Jeff Bezos this week has sold more than $3 billion worth of shares in his company, according to filings with the Securities and Exchange Commission compiled by OpenInsider. Bezos has accelerated his stock sales in the last year. In August, Bezos offloaded more than
Wells Fargo Securities’ Christopher Harvey won’t buy the post-election bounce. “You want to fade this rally,” the firm’s head of equity strategy told CNBC’s “Trading Nation” on Wednesday. “It’s about stimulus. We now have — or what we believe we have — is [Joe] Biden as president and no longer a blue wave.” Harvey contends
Steve Mollenkopf, chief executive officer of Qualcomm Inc. Patrick T. Fallon | Bloomberg | Getty Images Qualcomm stock rose over 6% in extended trading as its revenue and adjusted earnings per share handily beat Wall Street expectations. Here’s how Qualcomm did versus Refinitiv consensus estimates for the quarter ended Sept. 27: Earnings: $1.45 per share
Jim Farley, Ford CEO Ford Ford Motor will release its U.S. vehicle sales on a monthly basis as well as quarterly after the company’s new CEO Jim Farley promised Wall Street greater transparency. The decision comes more than a year after the Detroit automaker followed its crosstown rival, General Motors, in switching exclusively to quarterly
People watch a big screen displaying the live election results in Florida at Black Lives Matter plaza across from the White House on election day in Washington, DC on November 3, 2020. Olivier Douliery | AFP | Getty Images One day after the election, the question on everyone’s lips is still, “Who will be president
Jamie Dimon, CEO, JP Morgan Chase, speaking at the Business Roundtable CEO Innovation Summit, December 6, 2018. Janhvi Bhojwani | CNBC JPMorgan Chase CEO Jamie Dimon told employees that they must have faith in the U.S. election process and patience to await a final determination. “While strong opinions and tremendous passion characterized this U.S. election,
Billionaire investor Leon Cooperman wasn’t always rich. The Omega Family Office chairman/CEO was born to working-class Polish immigrants and grew up in a one-bedroom apartment in New York City’s South Bronx neighborhood. His father was a plumber. “I’m the first generation in my family born in America, first generation to go to college,” Cooperman, 77,
JEFF KOWALSKY | AFP | Getty Images Many workers may be at risk of losing their jobs again as some areas are imposing or considering new shutdown orders to curb a surge in coronavirus cases. A judge in El Paso County, Texas, last week ordered all non-essential businesses like gyms and hair salons to close
A pedestrian walks by the closed GAP flagship store on August 18, 2020 in San Francisco, California. Justin Sullivan | Getty Images Gap caught fire Wednesday for posting a photo of a half-blue, half-red sweatshirt on its Twitter account, with the outcome of a heated presidential election still undecided and tensions running high. The retailer
‘Shark Tank’ Shark and entrepreneur Mark Cuban on what happens behind the scenes on the show and how many of the deals never actually close.
Getty Images As the stock market rally picks up steam on Election Day, some 401(k) plan investors have been making more moves than usual within their retirement savings accounts. The amount of daily trading within 401(k) plans — traditionally seen as places to buy and hold investments — has been increasing, even as the market
At multiple points in the past few years, Mark Cuban said he was considering running for president in 2020. That never came to pass, and the tech billionaire and Dallas Mavericks owner is making no secret about who he wants to win on Election Day in 2020. Cuban has had no problem criticizing both President
BEIJING — Chinese mutual funds have been on a tear this year, a sign of changing investor behavior as the local capital markets mature. More than 1,100 new funds have launched this year, for a scale of issuance that’s topped 2.5 trillion yuan ($373.1 billion) as of Friday, the last trading day of October, according
A Friendly’s Ice Cream Corp restaurant is seen on the day the company filed for bankruptcy in Delray Beach, Florida. Joe Raedle | Getty Images FIC Restaurants, the parent company of Friendly’s, said it has filed for Chapter 11 bankruptcy protection after the coronavirus pandemic caused sales to plummet. The company will sell substantially all
A President Donald Trump and a former Vice President Joe Biden supporter converse before the Joe Biden Campaign Rally at the National World War I Museum and Memorial on March 7, 2020 in Kansas City, Missouri. Kyle Rivas | Getty Images As Americans cast their votes on Election Day, millions are still waiting for financial
A man walks to cast his ballot at an early voting center at the Omni Shoreham Hotel on October 27, 2020 in Washington, DC. Sarah Silbiger | Getty Images Don’t let Election Day anxiety drive your tax decisions. There are still plenty of chances to trim your 2020 tax bill — regardless of who wins
These days, start-up investor Alexis Ohanian is perhaps best known for being married to tennis legend Serena Williams. But Ohanian is also famous for co-founding Reddit. And just as famously — or infamously — he and his co-founders sold Reddit 14 years ago for what turned out to be pennies on the dollar compared to
Traders wait for the Wayfair IPO on the floor of the New York Stock Exchange October 2, 2014. Lucas Jackson | Reuters Check out the companies making headlines in midday trading. Alibaba — Shares dropped more than 5% after Ant Group’s record-setting initial public offering in Shanghai and Hong Kong was suspended. Alibaba owns roughly
A person wears a protective face outside the AMC 34th Street 14 movie theater as the city continues Phase 4 of re-opening following restrictions imposed to slow the spread of coronavirus on July 31, 2020 in New York City. Noam Galai | Getty Images Entertainment | Getty Images AMC, starved for cash, is looking to
The Littlefield Collection, the largest private array of armored military vehicles, was auctioned off in mid-July. They range from World War I to the Pacific Gulf Wars and include a huge variety of equipment.
Ika84 | E+ | Getty Images Here’s one open enrollment period that people without health insurance may want to pay attention to. From Nov. 1 through Dec. 15 — unless your state has a later closing date — individuals or families without medical coverage can sign up for a plan through the federal health exchange
How is Wall Street positioned for the election? Even Wall Street isn’t sure. For most of October, “buy the stimulus trade” was the main idea on Wall Street. After all, polls showed odds were good for a Biden victory that would likely entail some kind of large-scale stimulus. Investors were buying small-cap stocks, infrastructure plays, and
The U.K. goes back into lockdown this week — but in some cases, it still makes sense to plan for when restrictions go away. One British luxury train, in particular, certainly requires early booking. This month, the Belmond British Pullman was named the best luxury train journey in the world by Condé Nast Traveler’s 2020
Fundstrat Global Advisors Tom Lee is calling for stocks to rally into year-end. It’s not dependent on any single election outcome. Rather, it takes into account three widely-talked about scenarios. Lee’s base case: Joe Biden wins with a blue wave due to his strength in the polls and betting markets. “That rally is roughly 10%,”
A shopper is seen wearing a mask while shopping at a Walmart store, in North Brunswick, New Jersey, July 20, 2020. Eduardo Munoz | Reuters At some Walmart stores, robots have roamed the sales floors and helped check if shelves were stocked. But the big-box retailer has now decided to end its contract with the
MoMo Productions | Stone | Getty Images As Election Day looms and U.S. Covid-19 cases spike, there are a lot of reasons why you may feel uncertain about the future. The good news is that there are moves you can make now to shore up your finances and build your personal security, no matter your
andresr | E+ | Getty Images Covid-19 has disrupted tax and retirement planning for small-business owners, especially those who focused on saving their businesses from the pandemic’s fallout earlier this year. With some hard work, however, there is still time to get back on track by Dec. 31. Here’s a great example. After his business