Spanish fine-dining powerhouse El Celler de Can Roca was twice named the “World’s Best Restaurant” by Restaurant Magazine. Not to mention the three Michelin stars that it has maintained since 2009. While the restaurant’s closure due to the coronavirus pandemic ends next week, its new stablemate Casa Cacao is already back in business. Owned by
admin
An Institutional Investor Hall of Famer sees more trouble lurking in the market. Richard Bernstein warns unprecedented Federal Reserve policies may eventually cause serious harm. He cites near record deficits and aggressive efforts to increase the money supply among the biggest problems. “I’m surprised that people aren’t more concerned about what huge monetary growth means
Hertz has suspended its plan to sell up to $500 million in shares after the Securities and Exchange Commission voiced concern about the deal and launched a review. Trading of Hertz stock had been halted for several hours before resuming shortly before 3:30 p.m. ET. Once trading resumed, shares were volatile, jumping double digits before closing
In the U.S. today, the average African-American household owns just 6 cents for every $1 of wealth held by the typical white household, and blacks make up just 1.7% of the top 1% of wealthy Americans. But there are black members of the 1% who are working to change that. Tanzina Vega investigates the historical
Gillian Gullett thought she had it all figured out: Graduate from college, move to Seattle to live with her boyfriend, and find a job. After all, the economy was strong and unemployment was matching its lowest level in more than 50 years. Then, the coronavirus crisis hit and jobs dried up. “The pandemic hit around
A person on a scooter rides past a JPMorgan Chase & Co. bank branch in New York, U.S., on Thursday, June 11, 2020. Jeenah Moon | Bloomberg | Getty Images JPMorgan Chase will close its U.S. Chase retail branches early on Friday in observation of Juneteenth, according to an email to colleagues from CEO Jamie
“Opportunity zones,” a cornerstone of the White House plan to combat racial inequality, have mainly helped large real estate projects while many low-income communities have yet to benefit, according to a new study. The plan, which was part of the 2017 tax cuts and have attracted over $10 billion in investments, has taken center stage
Jamie Grill | JGI | Getty Images This is breaking news. Please check back for updates. Federal Reserve Chairman Jerome Powell told Congress on Wednesday that the circulation of physical coinage ground to a halt amid the coronavirus outbreak but that the central bank is working to fix the flow. The topic came to light after
Oracle CEO Safra Catz delivers a keynote address during the 2019 Oracle OpenWorld on September 17, 2019 in San Francisco, California. Oracle CEO Safra Catz kicked off day two of the 2019 Oracle OpenWorld with a keynote address. The annual convention runs through September 19. Justin Sullivan | Getty Images Oracle shares fell as much
President Donald Trump points toward the crowd during a “Keep America Great” campaign rally at BancorpSouth Arena on November 1, 2019 in Tupelo, Mississippi. Brandon Dill | Getty Images White House coronavirus advisor Dr. Anthony Fauci as well as other health officials are raising concerns that President Donald Trump’s upcoming campaign rally in Tulsa will
Klaus Vedfelt | Getty Images Many companies have made big promises in recent weeks when it comes to improving racial diversity. Yet investors may be wondering whether the stocks they own include companies that have made racial inclusion a priority. One index is aiming to provide a measure for that. The Morningstar Minority Empowerment Index
The former top securities regulator for the United States said Tuesday that policymakers never considered there would be a market for bankrupt companies like Hertz to issue new stock and that, if things went poorly, investment banks could be on the hook. Harvey Pitt, who served as chairman of the Securities and Exchange Commission under
An increasing number of countries around the world are welcoming back international travelers for the summer, after a period of lockdown due to the coronavirus. However, with vaccines and treatments for the virus still in development, traveling safely is important. If paying up for your own private plane has crossed your mind as the dream
U.S. stock futures moved lower in overnight trading, following a big rally in the previous session fueled by growing belief that the worst may be over for the world’s largest economy. Dow futures fell 180 points, indicating a loss of 0.7% at the open on Wednesday. The S&P 500 and Nasdaq-100 were also set to
The new potential coronavirus treatment dexamethasone is a “good first step” to finding a cocktail of drugs that can effectively treat Covid-19, Oxford University professor Martin Landray, who co-led the study that found the drug to improve survival among patients, told CNBC on Tuesday. Landray and his team earlier Tuesday published the results of a study, which
rudi_suardi For the most part, Americans spent very little during the pandemic — up until now. On Tuesday, May retail sales shattered expectations, jumping 17.7% in the biggest monthly surge ever. President Donald Trump was quick to post on the news. Nearly half of all consumers had said they were saving more during the coronavirus crisis by
An Astra rocket standing on the launchpad in Kodiak, Alaska. Astra / John Kraus Rocket builder Astra will try again for its first orbital rocket launch in July, as the San Francisco-area startup navigates the coronavirus pandemic environment while trying to begin flying satellites to space regularly. The company suffered a setback in March when
As the coronavirus pandemic took hold in across the country and the world, millions of Americans’ lives were disrupted as they faced illness, unemployment levels not seen the Great Depression and whiplash-inducing market volatility. But some billionaires who saw their fortunes dive as the market tanked in March have recovered and even surpassed their previous levels
Pedestrians pass in front of a Nordstrom Inc. store in the Midtown neighborhood of New York, on March 20, 2020. Gabby Jones | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Apple— Shares of Apple rose more than 2% after a Citi analyst raised his 12-month price target on the technology
Pedestrians walk past murals painted on boards covering bar windows on 6th Street on May 20, 2020 in Austin, Texas. Tom Pennington | Getty Images The number of people sickened with Covid-19 across Texas‘ hospitals continues to rise with coronavirus hospitalizations now up more than 66% since Memorial Day as the state continues to reopen.
Karen Ducey | Getty Images So you’ve enrolled in Medicare and have determined that a supplement plan — aka, “Medigap” — is an appropriate add-on for you. There may be more decisions to make. While Medigap policies are standardized regardless of which insurance company sells them and where you live, the premiums can vary from
Spencer Platt | Getty Images JPMorgan Chase will bring more of its trading personnel back to its New York headquarters starting next week, according to a person with knowledge of the bank’s plans. Since the coronavirus pandemic took hold in New York in March, most of the bank’s traders and salespeople have worked from home.
Ivory Johnson is the founder of Delancey Wealth Management and a member of the CNBC Financial Advisors Council. In this interview, I asked him how issues of social justice interact with issues of economic justice. Johnson told me it starts with a simple question: What creates wealth? Johnson, a certified financial planner, discusses tax policies
The stronger dollar era may be on borrowed time. Stephen Roach, one of the world’s leading authorities on Asia, is worried a changing global landscape paired with a massive U.S. budget deficit will spark a dollar crash. “The U.S. economy has been afflicted with some significant macro imbalances for a long time, namely a very
A pharmacy tech holds a bottle and a pill of Hydroxychloroquine at Rock Canyon Pharmacy in Provo, Utah, on May 20, 2020. George Frey | Getty Images The Food and Drug Administration warned Monday that Covid-19 patients taking anti-malaria drug hydroxychloroquine along with antiviral drug remdesivir may weaken the effectiveness of the latter. The FDA
In 2011, Hawaii released President Obama’s birth certificate after much prodding from Donald Trump and the ‘Birther Movement.’ Obama took the opportunity to crack some jokes about it at the White House Correspondents Dinner.
A United Airlines ticketing agent checks the mobile device of a passenger as he tries to check in for a flight in the main terminal of Denver International Airport. David Zalubowski | AP Paychecks aren’t the only thing at risk for workers in the airline and hospitality industries. Their nest eggs could be on the
Luis Alvarez (This story is for CNBC Pro subscribers only.) Retail investors are giving Wall Street pros a run for their money during the market comeback, with the amateurs’ top picks outperforming those of hedge funds, according to Goldman Sachs. Goldman compiled a portfolio of popular stocks among retail investors and the basket of equities
Tony Fadell, Inventor of the iPod and former CEO of Nest attends a conference during Viva Technology at Parc des Expositions Porte de Versailles on June 16, 2017 in Paris, France. (Getty | Christophe Morin) Before becoming known as the “father of the iPod,” Tony Fadell said he was rejected by 80 venture capital investors
Billionaire investor Leon Cooperman warned that the speculative stock trading from retail investors won’t end well. “They are just doing stupid things, and in my opinion, this will end in tears,” Cooperman said on Monday on CNBC’s “Halftime Report,” referring to a flood of new retail investors into brokers especially the millennial-favored Robinhood. “The notion that