Is Janet Yellen the right person for the role of Federal Reserve Chair? Rep. Kevin Brady (R-TX), and CNBC contributor Jim Pethokoukis, share their opinions.
The passenger who was dragged off a United flight after he refused to give up his seat to airline employees settled with the airline for an undisclosed sum Thursday in an apparent attempt by the company to put the fiasco behind it as quickly as possible. David Dao's legal team said in a brief statement that the agreement includes a provision that the amount will remain confidential. One his lawyers praised United CEO Oscar Munoz.
United Airlines and the passenger who was dragged from a Chicago flight earlier this month have reached a settlement for an undisclosed sum, they said on Thursday, in the carrier's latest step to contain damage from an incident that sparked international outrage. Viral videos of Dr. David Dao being dragged down the aisle of a United jet and Chief Executive Oscar Munoz's handling of the incident touched off a public outcry, prompted calls from congressmen for new industry regulation, and led United's board of directors to reverse an agreement to make Munoz company chairman in 2018. Southwest Airlines also said on Thursday that it would end overbooking of flights.
ESPN is laying off about 100 employees, including former athletes-turned-broadcasters Trent Dilfer, Len Elmore and Danny Kanell, in a purge designed to focus the sports network on a more digital future. The cuts will trim ESPN's stable of on-air talent and writers by about 10 percent. The 37-year-old network has been squeezed by rising fees to broadcast live events at the same time hordes of cord-cutting TV viewers have been canceling their ESPN subscriptions.
The question of whether you'll be paying more in taxes under President Donald Trump may hinge on how much you use tax deductions now. The Trump administration Wednesday unveiled the broad outlines of his campaign promise to overhaul the sprawling U.S. tax code with a simpler system that lowers tax rates. It remains to be seen how deeply the plan cuts into the most widely used deductions, which cost the government hundreds of billions of dollars in lower taxes.
In a span of less than four months, Tesla Motors (TSLA) founder and CEO Elon Musk has added $2.3 billion to his personal wealth . Musk is now worth more than $13 billion, according to the Bloomberg Billionaire Index, but it could have worked out very differently. In fact, a crucial decision Elon Musk was forced to make in 2010 when, by his own account, the billionaire was broke, is one of the reasons Musk has been able to cash in on Tesla's rapid share rise this year: Musk held on to shares at the very moment when a sale to raise cash would have made financial sense.
Congrats, grads: The proportion of employers planning to hire recent college graduates hit a decade-high this year. Almost three-fourths of employers intend to hire college graduates this year, according to a new survey from CareerBuilder. "Competition for soon-to-be college grads is escalating to a degree we haven't seen in the last 10 years," said Rosemary Haefner, chief human resources officer for CareerBuilder.
Intel Corp.’s quarterly earnings served as a warning that its best business, server chips, isn’t living up to the company’s expectations. The Data Center Group had sales of $4.2 billion in the three months ending April 1, Intel said in a statement Thursday. That’s below the company’s long-term goal of double-digit percentage growth and points to more weakness in corporate buying of equipment. Under Chief Executive Officer Brian Krzanich, Intel is trying to spread its bets away from a personal computer market that’s been declining since it peaked in 2011. Sales of server chips, which have helped it make up for that fall off in its main market, aren’t expanding as quickly as Intel projected as
Weeks after firing host Bill O’Reilly amid allegations of sexual harassment, Fox News is under fire once again for accusations of racial discrimination. Eleven current and former Fox News employees have filed a lawsuit alleging that Fox employees engaged in “abhorrent, intolerable, unlawful and hostile racial discrimination” and created a workplace “more akin to Plantation-style management than a modern-day work environment". The case, which started with two former payroll employees, made headlines this week with the addition of former Fox and Friends co-host Kelly Williams.
By Julia Simon NEW YORK (Reuters) - Crude prices were slightly lower after a volatile session on Thursday, as the restart of two key Libyan oilfields and concerns about lackluster gasoline demand fed concern over whether major oil producers can alleviate the glut of global inventories. U.S. gasoline futures led the energy complex lower in choppy trading, at one point hitting its lowest level seasonally in eight years after data on Wednesday showed inventories rose by the most in nearly three months. “Gasoline is kind of keeping crude from going up very much," said James Williams, president of energy consultant WTRG Economics in London, Arkansas.
Dividend stocks are known for their ability to produce eye-popping gains over long periods of time (10-plus years or more), but not so much for quantum leaps in value in as little as 12 months or so. The blue chip biotech Gilead Sciences (NASDAQ:GILD), though, may have the ingredients necessary to pull off just such a feat. The long and short of it is that Gilead's stock has gotten blasted over the past two years because of falling hepatitis C drug sales, combined with concerns that its HIV franchise may also be negatively impacted by the introduction of generics soon. Compounding matters, Gilead has been unable to grow its fledgling oncology franchise into a major source of revenue due to
Microsoft (NASDAQ: MSFT)'s cloud business is likely to unlock a powerful profit stream for the business over the next few years, according to analyst Michael Nemeroff. Nemeroff, a banker at Credit Suisse, wrote that Microsoft is in the early innings of its commercial cloud business, while Office 365 also has the potential for revenue and profit growth. Profit margins are expected to grow to 60 percent by 2019, Nemeroff estimated.
The air freight industry has some major players whose stocks are trading in very different ways. United Parcel Service, Inc. (UPS) fell at the start of the year and has been in a three-month range since. With earnings on Apr. 27, a breakout could occur relatively quickly. FedEx Corp. (FDX) didn't sell off much at the start of the year, but it too has key levels to watch as it has been ranging for the last four months. Expeditors International of Washington, Inc. (EXPD) is currently the strongest of the group, posting a multi-year high on April 25. The chart of United Parcel Service is in a precarious position. The decline between December and February was larger than the last rally higher (November
California lawmakers pushed forward Wednesday with a proposal that would substantially remake the health care system of the nation's most populous state by replacing insurance companies with government-funded health care for everyone. The idea known as single-payer health care has long been popular on the left and is getting a new look in California as President Donald Trump looks to replace former President Barack Obama's health care law.
United Airlines has announced “substantial” policy changes following the recent incident aboard a recent flight when a passenger was dragged off the plane. “The changes are the result of United’s thorough examination of its policies and procedures, and commitment to take action, in the wake of the forced removal of a customer aboard United Express Flight 3411 on April 9,” the statement on the airline’s website read. The airline says they will now limit law enforcement to safety and security issues.
(Adds details, shares) April 27 (Reuters) - Chinese internet company Baidu Inc forecast current-quarter revenue largely below estimates, sending its U.S.-listed shares down about 6 percent in extended trading on Thursday.
By Alana Wise NEW YORK (Reuters) - United Airlines said on Thursday it would offer passengers who volunteer to forfeit their seats on overbooked flights up to $10,000 as part of the carrier's efforts to repair the damage from the rough removal of a passenger. The offer came after rival Delta Air Lines Inc outlined plans to offer up to $9,950 in such cases. United also said it would take actions to reduce overbooking flights and improve customer satisfaction.
Under Armour said Thursday that sales in its footwear segment grew only 2 percent for the quarter, compared to a whopping 64 percent increase in shoe sales during the same period one year ago. The difference was primarily due to "significant strength in basketball sales" last year, Under Armour said. Under Armour also will open a "footwear building" in Nike's home turf of Portland, Oregon, and, shift its focus to shoes priced at more than $100.
Barrons.com’s Income Investing blog helps readers find undervalued securities that offer attractive yields, with an emphasis on dividend-paying stocks, preferred shares, bonds, REITs, Master Limited Partnerships and closed-end funds. Amey Stone is Barron’s Income Investing blogger and Current Yield columnist. She was formerly a managing editor at CBS MoneyWatch, MSN Money and AOL DailyFinance. Her responsibilities included overseeing market coverage and personal finance topics. Prior to those roles, she was a senior writer at BusinessWeek where she authored the Street Wise column online and contributed to the magazine’s Inside Wall Street column. Topics covered included economics, corporate finance,
Dow and DuPont plan to merge and then break up into three independent publicly traded companies, with the first spinoff being called "Material Science Co". Dow will expand in the packaging, infrastructure, transportation and consumer care markets, Chief Executive Officer Andrew Liveris said on a post-earning call on Thursday, adding that 90 percent of the Material Science company's revenue would be "aligned" to these end-markets. DuPont said on Tuesday it expected its deal with Dow to close in August, after repeated delays due to strict regulatory scrutiny.
After a rally last week in the wake of President Donald Trump's announcement that he would be kick starting a probe into imported steel, steel stocks tumbled Wednesday as weak earnings and slashed guidance from United States Steel (NYSE:X) sent worries through the sector. U.S. Steel reported a quarterly loss of $1.03 per share, according to Thomson Reuters. Released after the bell Tuesday, the earnings report sent U.S. Steel's stock into a 26 percent nosedive Wednesday.
Internet radio broadcaster Sirius XM said Thursday its profit rose 20 percent in the first three months of the year as it added more subscribers. Sirius XM also said it has bought Automatic Labs Inc., the maker of a device that plugs into a dashboard and can track road trips on an app, contact the authorities if it detects a crash or alert the driver to engine trouble. Sirius XM did not disclose the price.
Senate Democrats late Thursday blocked a quick vote on a short-term spending bill to keep the government open, roiling Washington with brinkmanship less than 30 hours before a midnight Friday deadline for a shutdown and President Donald Trump's 100th day in office. Majority Leader Mitch McConnell pressed for an agreement on the short-term legislation that will carry through next week, giving lawmakers more time to complete negotiations on a $1 trillion government-wide spending bill for the remainder of the 2017 budget year. Democratic leader Chuck Schumer insisted that any vote only occur when Republicans abandon efforts to add provisions on abortion, financial regulations and the environment to the legislation.
Southwest Airlines (LUV) missed analysts' expectations for its first-quarter earnings, reporting adjusted earnings of 61 cents a share on revenue of $4.9 billion, sending shares down in premarket trading. Analysts expected Southwest to earn 63 cents share on $4.92 billion in revenue, according to a FactSet consensus. Southwest shares were down 4.29% in premarket trading to $54.50. Revenue increased 1.2% from a year earlier, driven largely by first quarter record passenger revenue of $4.4 billion. The domestic airline said trips rose 2.3% in the quarter resulting in a record number of passengers for any first quarter. On a unit basis, operating revenues declined 2.8%, year-over-year, which was