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
American multinational sport clothing brand Nike store seen in Hong Kong. Budrul Chukrut | SOPA Images | Getty Images The deadly coronavirus, whose spread accelerated around the globe, is battering the stock market, and some U.S. companies are particularly vulnerable to the disease as their growth has been driven by Chinese consumers. Wall Street analysts
Jetta Productions Inc Bring out your box of receipts. Tax season begins today. Eager taxpayers can start filing their 2019 tax returns on Monday, Jan. 27. The IRS expects it will receive more than 150 million returns. People with elaborate returns can ask for a six-month extension to file, but they have until April 15
U.S. health officials are currently monitoring 110 people across 26 states for the coronavirus, including the five patients who contracted the deadly infection in China and brought it back to America. The disease, which has killed at least 81 people in China and sickened more than 2,800 worldwide, isn’t spreading within the community in the
Retired L.A. Lakers superstar Kobe Bryant, who died in a helicopter crash on Sunday, told CNBC in 2016 he hoped people would remember him more for investing than basketball in 20 years. “Playing basketball, the focus is always on winning — winning championships, winning championships, winning championships,” Bryant said during a CNBC “Squawk on the
A trader works on the floor of the New York Stock Exchange. Getty Images Traders and hedge funds who use high-speed methods to gain an advantage in the stock market impose a “tax” on other investors, according to a study released Monday, costing as much as $5 billion per year across global exchanges. The Financial
Hero Images | Hero Images | Getty Images Many Americans believe they will live longer than their parents. For younger generations, that has led to a big concern: how they will provide financially for those extended years. That’s according to a new online poll from the Longevity Project and Morning Consult, which surveyed 2,200 U.S.
(L-R) Billie Eilish and Finneas O’Connell accept Album of the Year for “When We All Fall Asleep, Where Do We Go?” onstage during the 62nd Annual GRAMMY Awards at Staples Center on January 26, 2020 in Los Angeles, California. Jeff Kravitz The 62nd Grammy Awards were dominated by 18-year-old Billie Eilish. The first-time Grammy nominee
Long-time market bull Art Hogan is on pullback alert. With the busiest period of earnings season kicking off this week, the National Securities chief market strategist warns conditions are ripe for a significant move lower. “Stocks are relatively priced for perfection, and you tend to have a bit of an overreaction to bad news or
A Chinese health worker checks the temperature of a woman entering a subway station during the Chinese New Year and Spring Festival on January 25, 2020 in Beijing, China. Kevin Frayer | Getty Images More than 2,700 people in China are now said to have been infected by the fast-spreading coronavirus while more countries have
Visa Inc. credit and debit cards are arranged for a photograph in Washington, D.C., U.S., on Monday, April 22, 2019. Andrew Harrer | Bloomberg | Getty Images Financial technology start-up Currencycloud, which powers cross-border payments for a number of popular finance apps, has raised $80 million in a funding round backed by Visa. Based in