The image of Phuket as a cut-price destination for backpackers and budget-conscious retirees is long out of date. Phuket has now become a favorite vacation destination for the world’s wealthiest individuals, many of them arriving on super-yachts. Yachts are becoming a common sight in Phuket. Asiandelight It started when the Amanpuri resort opened and spearheaded
Month: January 2020
Warren Buffett, Berkshire Hathaway Inc. chairman and chief executive officer, tosses a newspaper as he tours the exhibition floor during the Berkshire Hathaway Inc. annual shareholders meeting in Omaha, Nebraska. Daniel Acker | Bloomberg | Getty Images Warren Buffett’s Berkshire Hathaway is leaving the newspaper business and selling its operations to publisher Lee Enterprises for
PeopleImages | E+ | Getty Images Tax season is starting off with a whimper, as 1 in 5 people predict they will owe the IRS this tax season. Those were the findings from a recent survey by NerdWallet. The personal finance website polled 2,002 adults online from Nov. 18 through Nov. 20, 2019. Taxpayers who
A patient is transferred by an ambulance to the Infectious Disease Centre of Princess Margaret Hospital on January 22, 2020 in Hong Kong, China. Anthony Kwan | Getty Images This is a live blog. Check back for updates. 11:15 am: US health officials hold press conference on the coronavirus outbreak Top U.S. health officials and infectious
Apple reported iPhone revenue of $56 billion for its fiscal first quarter on Tuesday, blowing past analysts’ estimates, proving that the new iPhone 11 is off to a strong start. IPhone revenue for the quarter rose 8% from a year earlier and climbed from the fourth quarter when Apple generated $33.36 billion in iPhone sales.
Customers look at Apple’s new iPhone 11 series smartphones at an Apple retail store at the IFC Mall in Pudong New Area, Shanghai. Alex Tai | SOPA Images | LightRocket | Getty Images Take a look at the companies making headlines after the bell. Apple – Apple stock rose 2.5% after it reported strong fourth-quarter
A father and daughter play with a digital tablet at an Estée Lauder store in Shanghai. SOPA Images | LightRocket | Getty Images The Chinese coronavirus is forcing Wall Street to turn sour on certain stocks. Bank of America downgraded shares of Wynn Resorts to neutral from buy and Oppenheimer downgraded shares of cosmetic company
If you can clear a few hurdles, high health care costs might help lower your 2019 tax bill. The deduction for medical expenses is one of the few tax breaks currently available to individuals, due to tax-law changes in effect from 2018 through 2025 that doubled the standard deduction and eliminated most other write-offs. As
Starbucks President and Chief Executive Officer Kevin Johnson is pictured at the Annual Meeting of Shareholders in Seattle, Washington on March 20, 2019. Jason Redmond | AFP | Getty Images Starbucks on Tuesday reported quarterly earnings that beat analysts’ expectations, but investors focused on its warning that the Wuhan coronavirus outbreak could deal a blow to
Apple reported revenue and profit significantly higher than what Wall Street analysts expected and spiked as much as 3% before settling down up around 1% in after-hours trading Apple’s revenue was up 9% to $91.8 billion which beat its own guidance. That’s a significant change from the same quarter last year when it had to
The Federal Reserve heads into its first meeting of the new decade with its key responsibility — interest rates — well resolved, but with a slew of other less headline-grabbing but still significant decisions on the table. Practically no one expects the central bank to move its benchmark borrowing rate until at least September. Central
A customer holds boxes of 3M Co. 8247 R95 particulate respirators at a pharmacy in the Central district of Hong Kong, China, on Thursday, Jan. 23, 2020. Justin Chin | Bloomberg | Getty Images The CEO of industrial giant 3M said Tuesday that the company is increasing production of its respiratory protection products, such as
Kathy Kraninger, director of the Consumer Financial Protection Bureau. Andrew Harrer | Bloomberg | Getty Images The agency created in the wake of the 2008 financial crisis to protect consumers from abuse is being gutted from the inside, according to some consumer advocates and legal experts. A new enforcement policy at the Consumer Financial Protection
The spread of the coronavirus is causing concern for members of the public and global financial markets, but health experts are keen to put the virus into context. Chinese health authorities said Tuesday that the coronavirus outbreak has killed 106 people and infected 4,515. The officials also said 60 people had been discharged. While the
U.S. industrial giant 3M forecast 2020 profit below expectations and narrowly missed quarterly revenue estimates on Tuesday, as it faces sluggish demand in Asia, its largest market outside the United States, sending its shares down 2.4%. 3M, which makes everything from adhesive tapes to air filters, also said it would cut 1,500 jobs globally as it
Check out the companies making headlines before the bell: 3M (MMM) – 3M reported quarterly profit of $1.95 per share, compared to a consensus estimate of $2.10 a share. However, that number included a 20 cents a share charge for newly announced job cuts totaling 1,500. Revenue came in slightly below Wall Street forecasts. Pfizer
A battery start-up that’s backed by iPod inventor and Nest founder Tony Fadell, and which claims to have found a green and scalable way to make lithium-ion batteries more efficient, on Tuesday announced that it raised $18.5 million in its Series A funding round. New Orleans-based Advano is focused on increasing batteries’ energy density by
Hill Street Studios Here’s a head-scratcher: Getting a raise could hurt your standard of living in retirement. That conclusion seems counterintuitive. After all, wouldn’t saving the same percentage of a larger paycheck yield more savings, and therefore a healthier retirement? Not exactly, according to new research published by Morningstar. “Raises — and how we spend
Laborers work in the Qingdao branch of SAIC-GM-Wuling Automobile in Qingdao, China. STR | AFP | Getty Images Automakers are withdrawing employees from China and weighing whether to suspend manufacturing in the country as the virus that emerged in Wuhan less than a month ago ravages the mainland. Most major automakers have restricted or banned
U.S. Treasury yields are sliding, and that could negatively impact financial institutions, CNBC’s Jim Cramer said Monday. “Worries about a worldwide slowdown mean people will buy [U.S.] Treasurys, and when people buy Treasurys, interest rates go down,” the “Mad Money” host said. “Lower long-term rates translate to lower earnings for the banks, which is why
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