Economist Stephen Roach warns V-shaped recovery mania on Wall Street is leading investors astray. According to Roach, the U.S. is on a collision course with a second dramatic downturn. “The odds of a relapse, not just the virus but in the economy itself — the so-called dreaded double-dip, is very real,” the former Morgan Stanley Asia
Month: July 2020
WASHINGTON, DC – JULY 21: Senate Majority Leader Mitch McConnell (R-KY) speaks to the media after … [+] weekly policy luncheons on Capitol Hill July 21, 2020 in Washington, DC. Senate Majority Leader Mitch McConnell on Tuesday promised a new round of direct payments to earners below a certain income level, similar to the $1,200
The California Court of Appeals has upheld a whopping verdict against Roundup. In 2018, jurors awarded $289 million to a man they say got cancer from Roundup weedkiller. Plaintiff Dewayne Johnson was awarded $39 million in compensatory damages, and $250 million in punitive damages. Later, the Judge reduced the $250 million punitive verdict to just under $40 million That left
With declining enrollments, reduced giving and state funding cuts, colleges are resorting to last-ditch efforts to stay afloat. Now teachers are the latest victims of extreme cost cutting. The University of Akron, Boston University and the University of Arizona are just a few of the schools to lay off or furlough staff in response to the
Theranos CEO Elizabeth Holmes speaking at the 2015 Clinton Global Initiative in New York on Sept. 29, 2015. Adam Jeffery | CNBC Elizabeth Holmes, whose company Theranos promised a revolutionary way to detect diseases, will likely have her criminal trial delayed until early 2021 due to a global pandemic with no cure in sight. U.S.
What are NYC buyers likely to buy, and how much will they want to pay for it? What neighborhoods and … [+] property types are hot? getty What are New York City buyers looking for? What are they likely to buy, and how much will they want to pay for it? What neighborhoods and property
An empty parking lot is shown at a closed JC Penney store in Roseville, Mich., May 8, 2020. Paul Sancya | AP Ross Allen-McCabe worked for six years at J.C. Penney. Now, he’s out of a job after the department store filed for bankruptcy and has so far let go hundreds at its headquarters in Plano,
Satya Nadella, chief executive officer of Microsoft Corp., listens during an interview on The David Rubenstein Show in New York on Sept. 27, 2017. Christopher Goodney | Bloomberg | Getty Images Microsoft will report its fiscal fourth-quarter earnings after market close on Wednesday. Here are Wall Street’s expectations for Microsoft: Earnings: $1.34 per share, adjusted, as
Pedestrians wearing protective masks walk past a Microsoft Technology Center in New York, on Wednesday, July 22, 2020. Jeenah Moon | Bloomberg via Getty Images Check out the companies making headlines after the bell: Microsoft — Shares of Microsoft dropped 2% in after hours after the company’s fourth-quarter earnings beat estimates. The technology company reported earnings
Your state pension is being robbed. Worse still, nobody wants you to know about it. Getty Expert forensic investigations reveal stealing from state pensions may be rampant, undermining the retirement security of workers. That’s an inconvenient truth that neither the inexperienced board overseeing your pension nor the Wall Streeters robbing it want you to know.
Getty When I was younger, a family friend gave us a pile of old dresses. Hand-me-downs weren’t new to us, and my mom was an amazing seamstress who could make almost anything look terrific (she handmade both of my prom dresses and most of my church dresses). But I didn’t have my mom’s talent. I
President Donald Trump met with cabinet members and Republican Congressional leaders in the Oval Office on July 20 to discuss a proposed new round of financial stimulus. Doug Mills | Pool | Getty Images The people who would get the greatest benefit from a payroll tax holiday may be the ones who need it the
A pedestrian wearing a protective mask walks along the boardwalk in Asbury Park, New Jersey, U.S., on Thursday July 9, 2020. Gabby Jones | Bloomberg via Getty Images Along the Eastern Shore beaches that span our home states of Maryland and Delaware, the summer season – usually a boon to our economy – is a
Amid the pandemic, the number of consumers requesting airline refunds has reached new heights. In fact, the Department of Transportation has received “an unprecedented volume of complaints from passengers” regarding airline refunds during this time, CNBC reported. And on CNBC’s new web series ”Got a Money Dispute? Ask Kevin,” host Kevin O’Leary says arguments over travel refunds are “one
Build Me Up premiers on HGTV on July 22nd at 9:00 pm. HGTV Build Me Up on HGTV is the home renovation show the world needs right now. Featuring interior designer Orlando Soria of Unspouse My House and Secrets From A Stylist, every episode shares the story and home renovation of someone going through a major life transition. Soria
United Airlines CEO Scott Kirby on Wednesday said he expects airfares to slip as the pandemic continues to depress demand for flights. “My guess is that pricing is going to go lower for the short-term,” Kirby told CNBC’s “Squawk Box.” All of the normal pricing metrics … in this pandemic are a little bit irrelevant.” The
A near empty parking lot in front of a Best Buy store in Montebello, California on April 15, 2020 as the electronics nationwide chain store remains closed to customers but open for pickups. Frederic J. Brown | AFP | Getty Images Best Buy said on Tuesday its quarter-to-date sales rose about 2.5%, driven by a
Billionaire investor Bill Ackman said he’s bullish on the U.S. and markets over the long term, but companies with a high level of debt will have a hard time surviving. “We are long-term bullish on America; We are long-term bullish on the markets,” Ackman said on CNBC’s “Squawk Box” on Wednesday. “But I would say
Retiree couple standing outside home Getty In our last post, we discussed the wide variety of retirees’ circumstances, preferences, and styles. A domain in which they enjoy an increasing variety of options is where they call home. One of the many rewards that comes with maturity and retirement is having new freedom to choose what
Next, we consider the joint impacts of rollup rates and payout rates on the amount of guaranteed income the annuity can support. When it comes time to begin taking guaranteed withdrawals, it is worthwhile to investigate whether applying the contract value of the annuity assets to a higher payout rate possibly available from other annuities
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