CNBC's Larry Kudlow and Eamon Javers provide immediate reaction to President Obama's statements on the government shutdown and debt ceiling battle.
Perhaps the best time to change up your career is when you're near its end. Close to one in five individuals aged 65 and over continues to punch the clock every day, according to the Pew Research Center. Meanwhile, more than half of Americans ages 50 to 64 are working and not retired, according to data from the Associated Press-NORC Center for Public Affairs Research. Indeed, older employees may continue working because they need to strengthen their finances. But 9-to-5 doesn't have to be a grind — if you plan for it, said Kerry Hannon, author of "Getting the Job You Want After 50 for Dummies." "If there's a kind of work that you want to move toward when you retire," she said, "it's important
Tax breaks aren't just for the wealthy. The IRS has many tax benefits that are aimed at those of more modest means, but many people miss out without even realizing they could take advantage of opportunities to cut their tax bill in April. The following three tax breaks are tailor-made to give the biggest benefits to those who make less than $50,000, and they can make a big difference come tax time. 1. Earned Income Tax Credit For those who work and have modest incomes, the Earned Income Tax Credit can provide one of the biggest tax credits available under current law. Exactly how much you can get depends on how much you make, what your filing status is, and whether you have any children. As you
Susan Fowler, who left Uber in December, wrote that she was subjected to sexual advances through a 'string of messages' over the company's chat software from the beginning of her employment. "What she describes is abhorrent and against everything Uber stands for and believes in," CEO Travis Kalanick said on the Twitter microblog on Sunday in response to the Fowler's post.
Janet Yellen knows why the stock market has been on a record tear. The chairwoman of the Federal Reserve on Feb. 15 offered up a pretty clear explanation for investors’ recent elation over equities in her testimony in front of the House Financial Services Committee. “I think market participants likely are anticipating shifts in fiscal policy that will stimulate growth and perhaps raise earnings,” Yellen said, responding to a question about what is behind the markets' meltup. Read: Stock indexes close at records as Dow extends winning streak That description is what most on Wall Street refer to as the Trump rally. That is a revival of so-called animal spirits inspired by expectations that President
The U.S. dollar finished the week just barely positive, and some strategists see the greenback heading lower as political uncertainty mounts. Federal Reserve Chair Janet Yellen's fairly hawkish remarks in a press conference Wednesday failed to boost the dollar, which the next day saw its largest one-day drop in over two weeks. In her two-daysemi-annual testimony on monetary policy before the House Financial Services Committee, Yellen reiterated that the Federal Reserve still expects to raise its federal funds rate target three times this year. Rate hikes tend to boost the value of the dollar, as higher short-term rates mean that those who hold greenbacks are paid more to do so. As the dollar
Shares in SoftBank Group Corp (9984.T) rose nearly 3 percent in morning trade on Monday after a Reuters report that the Japanese company is prepared to cede control of Sprint Corp (S.N) to T-Mobile US Inc (TMUS.O) to clinch a merger of the two U.S. wireless carriers. SoftBank is expected to approach T-Mobile parent Deutsche Telekom AG (DTEGn.DE) for negotiations when an ongoing auction of airwaves ends in April and a ban on talks between rivals is lifted, people familiar with the matter told Reuters. A potential deal could bolster SoftBank's shift towards what billionaire founder Masayoshi Son calls the "Berkshire Hathaway of the tech industry," or a company with cutting-edge tech investments as the telecoms services markets mature.
A SpaceX rocket soared from NASA's long-idled moonshot pad Sunday, sending up space station supplies from the exact spot where astronauts embarked on the lunar landings nearly a half-century ago. It was the first flight from NASA's legendary Launch Complex 39A since the shuttle program ended almost six years ago, and SpaceX's first liftoff from Florida since a rocket explosion last summer. The crowds at Kennedy Space Center watched eagerly as the unmanned Falcon 9 rocket took flight with a cargo ship bound for the International Space Station.
Pioneer Natural Resources (NYSE:PXD) has long believed that it's sitting on one of -- if not the -- biggest oil fields in the world. In fact, so much low-cost oil saturates the rocks beneath the land it controls in the Permian Basin of western Texas that the company recently unveiled a bold decade-long plan to develop this resource. What's remarkable about that plan is that the production from new wells will fuel more than 20% annual cash flow growth over the next 10 years even if oil prices don't budge. That's elite-level cash flow growth that, according to an analysis by JPMorgan, only 15 companies have eclipsed over the past decade. Among those cash flow growth kings were tech giants Apple (NASDAQ:AAPL),
As temperatures drop across the U.S., the number of scammers posing as heating or electric companies is on the rise. Utility-related scam phone calls soared 109% in 2016 and are expected to continue to rise as cold callers become more creative in fooling an increasingly savvy public, an analysis of 3.5 billion monthly calls and texts from spam protection service Hiya found. “If you find yourself on the receiving end of one of these calls and you’re not sure if it’s legitimate, hang up and call your service provider, in this case the number on your local utility company’s website or bill,” said Jan Volzke, vice president of reputation data at Hiya, which picks up calls automatically and blocks
Twelve employees of a Tulsa-area restaurant are without a job after skipping work on the "Day Without Immigrants."
Things are looking shakier by the day for Bass Pro Shops' $5.5 billion acquisition of Cabela's. Hedge funds that bet on the probability of deal closing, known as merger-arbitrage, are trading the deal at prices that would indicate a 40 percent chance of it going through. That lack of optimism from the hedge fund community stems from some hiccups that have appeared surrounding one of last year's most-complex deals. For one, the antitrust situation is getting trickier. Many outdoor retailers stocked up on guns, assuming that Hillary Clinton would take the White House. Consumers tend to purchase more guns when they perceive a change in government or policy that could mean stricter regulation. But
Want to improve your credit score? The two big consumer credit scoring companies are FICO, whose scores are most commonly used in lending decisions, and VantageScore, a company created by the three major credit bureaus (Equifax, Experian and TransUnion) whose scores have been gaining ground among lenders. The most influential factor in your credit score is your payment history, so staying on top of bills is crucial.
Feb.19 -- Jonathan Miller, international affairs fellow at the Council on Foreign Relations, discusses China's relationship with North Korea following Beijing's ban on coal from the country. He speaks to Bloomberg's Haidi Lun and Rishaad Salamat on "Bloomberg Markets."
Now-former President Barack Obama's hallmark legislation, the Affordable Care Act (ACA), appears destined for the scrap heap if the Republican-led Congress and President Trump get their way. The health law of the land, which is more commonly referred to as Obamacare, has been a mixed bag since being signed into law in March 2010. While it did accomplish one of its primary goals -- decreasing the uninsured rate -- Obamacare failed to become a sustainable means for the nation's largest insurers to offer coverage. Recently, three of the five largest national insurers, UnitedHealth Group (NYSE:UNH), Aetna, and Humana, all slashed their ACA-based coverage for 2017. In particular, UnitedHealth, the
Finding a company with a long track record of consistent dividend payments is only part of the winning formula for investing in dividend stocks. It's an opportune time to target dividend growers, according to Heidi Richardson, an investment strategist for BlackRock. Identify reliable dividend stocks by concentrating on the Dividend Aristocrats, 50 companies in Standard & Poor's 500-stock index that have hiked their dividends every year for at least 25 consecutive years.
Tesla Inc. is scheduled to report fourth-quarter results after the bell Wednesday. Wall Street will be eager to hear details on the Model 3, the all-electric mass-market car that Chief Executive Elon Musk hopes to start producing in July and selling later this year. “That’s where all eyes are now,” said Ben Kallo, an analyst with Baird. The Silicon Valley electric-car maker has promised to ramp up production to a rate of half a million vehicles in 2018, an ambitious goal that largely hinges on success of the Model 3. Hopes for the Model 3 and any updates on the car’s production schedule are partly the reason Tesla TSLA, +1.22% stock has been on a tear in recent days. Shares rose on Friday, snapping
The upcoming blizzard of little 1099 tax forms (which report various sources of "income" to the IRS) brings two key dangers: 1. Losing one that contains key information that needs to go on your tax return, and 2. Thinking you have to include every dime reported on the 1099s to the IRS. Lots of the dollars reported on 1099s are tax-free. The IRS gets a copy of every 1099 information return, so it's important to get this right. Set up a file right now to collect the forms as they arrive in the mail. And, read on to protect yourself from accidentally increasing your tax bill by being misled by a member of the 1099 family.
You need to know exactly how much money you have (checking accounts, savings accounts, retirement accounts, investments, the old piggy bank sitting on your closet shelf, etc.). You also need to know exactly how much money you owe (credit cards, car loan, student loan, mortgage, unpaid bills, the $10 you borrowed from Bob at the office, etc.). If you're paying interest on the money you owe, which is likely, write down the interest rate next to the amount due for each debt. Ideally, an emergency savings account would hold enough cash to pay for at least three to six months' worth of living expenses, but if you're shouldering a ton of debt, then you may not want to commit that much to savings yet.
Investors in their 60's should start to favor low-risk stocks that offer up big dividend payouts. Below are three stocks -- Waste Management (NYSE:WM), United Parcel Service (NYSE:UPS), and Welltower (NYSE:HCN) -- that perfectly fit that description. One man's trash... The waste-management sector is a terrific place to find low-risk stocks. Most trash haulers operate mini-monopolies since it makes no sense to send multiple garbage trucks down the same streets. That's because trash is quite heavy and holds almost no economic value. That fact gives any company that owns a fleet of trucks and landfills that are close to populated areas a dependable stream of income. Given those industry dynamics,
(American Airlines Boeing 777.Flickr/Eric Salard) For the second time in six months, Warren Buffett's Berkshire Hathaway will invest billions of dollars into the US airline industry. In total, Buffett's investment in American, Delta, United, and Southwest
This undesirable outcome is triggered by a recent price hike announced by Walt Disney Co (NYSE: DIS) for its Magic Kingdom at Disney World–Orlando. Disney reportedly announced a price hike for a one-day ticket to the Magic Kingdom to $107, $115 or $124, depending on the season.
Mortgage payments make up the biggest chunk of U.S. homeowners’ income since 2010. The average monthly mortgage payment made up 15.8% of buyers’ income in the fourth quarter of last year, according to real estate website Zillow Z, +0.57% , the biggest share of homeowner income since the second quarter of 2010, thanks to rising interest rates and increasing home values. The average monthly payment was $758 at the end of last year, up from $690 in 2015. Though it’s still not quite as bad as the national average of 21% between 1985 to 2000. “This is a phenomenon that really affects homebuyers a whole lot more,” said Svenja Gudell, chief economist at Zillow. See: Looking to get a mortgage in 2017?
Procter & Gamble (NYSE:PG) shares this week crossed $90 for the first time since 2014 following reports that a new, well-funded investor has built up a huge stake in the consumer products giant. Trian Fund Management, led by billionaire Nelson Peltz, recently added P&G to its targeted portfolio of just eight stocks, according to a 13-F report filed with the Securities and Exchange Commission on Feb. 14. The filing shows purchases of $540 million as of the end of last year, but that stake has since expanded past $3 billion to become Trian Fund's largest investment yet, equivalent to nearly 2% of Procter & Gamble's business. Peltz is an activist investor who routinely pushes the companies he owns to make dramatic changes to their business.
The consumer goods giant Kraft Heinz is calling off its plans to merge with Unilever — the maker of Hellmann's mayonnaise, Ben & Jerry's ice cream, and Dove toiletries — just two days after confirming its interest in the company. Kraft, which is backed by the legendary investor Warren Buffett, confirmed that it had made an approach to take over Unilever after the Financial Times Alphavill blog had reported it earlier in the day. "Unilever and Kraft Heinz hereby announce that Kraft Heinz has amicably agreed to withdraw its proposal for a combination of the two companies," the companies said in a statement on Sunday.
Retirement is a major milestone that brings many life changes. According to the Transamerica Center for Retirement Studies, the most frequently reported retirement worry is outliving savings and investments. Across all ages, 51% of respondents cited this concern, and 41% of retirees claim the same fear.