• CNBCyesterday

    How a late night phone call from Warren Buffett in 2008 may have helped save the US economy

    In October 2008, in the midst of the financial crisis, Berkshire Hathaway CEO Warren Buffett made a late-night phone call to then-Treasury Secretary Henry "Hank" Paulson, with an idea about how the government might be able to turn the economy around. Paulson was asleep. "I was exhausted," he recounts on Vice Special Report's " Panic: The Untold Story of the 2008 Financial Crisis ," a documentary that debuted Monday night on HBO .

  • Bloomberg23 hours ago

    India’s Central Bank Woes Won’t End With New Leader

    It's commendable that Prime Minister Narendra Modi moved swiftly to replace Urjit Patel, who quit this week as RBI governor. The new guy is Shaktikanta Das, a seasoned economic bureaucrat who has worked closely with the central bank. Surprisingly for a leader elected in a 2014 landslide after touting business-friendly credentials, Modi can't seem to hang on to an RBI governor.

  • After losing half its value, Nvidia faces reckoning
    TechCrunch4 hours ago

    After losing half its value, Nvidia faces reckoning

    Nvidia is a company that has reached the highest highs and the lowest lows, all in the span of a couple of weeks. Over the past two months, Nvidia’s stock has dropped from a closing price of $289.36 on Oct. 1 to today’s opening of $148.42, a decline of 48.8%. It takes a lot for a company to lose nearly half its value in such a short period of time, but Nvidia is proving that an otherwise strong technology business can disappear in a blink of an eye.

  • Toyota recalls 70,000 vehicles to replace air bag inflators
    Associated Press2 hours ago

    Toyota recalls 70,000 vehicles to replace air bag inflators

    Toyota is recalling about 70,000 Toyota and Lexus brand vehicles in North America to replace air bag inflators that could explode and hurl shrapnel at drivers and passengers. Takata uses the chemical ammonium nitrate to create a small explosion and inflate the bags. The Toyota and Lexus vehicles were recalled previously and the inflators replaced with new ones that still used ammonium nitrate.

  • Millions of Uninsured People Could Get $0 Premium Obamacare Health Insurance—With a Catch
    Fortune6 hours ago

    Millions of Uninsured People Could Get $0 Premium Obamacare Health Insurance—With a Catch

    The Affordable Care Act (ACA), informally known as “Obamacare,” has subsidies that can make an insurance plan’s premiums very cheap. A $0 premium may sound good if your income qualifies, but that is for one of the bronze plans. Bronze plans are estimated to cover 60% of the average person’s healthcare expenses, versus the 70% that a silver plan does.

  • Saudi Arabia Is Shipping 6,000 Tons of Shrimp a Week to China
    Bloomberg8 hours ago

    Saudi Arabia Is Shipping 6,000 Tons of Shrimp a Week to China

    The world’s largest oil exporter has shipped 6,000 tons of the crustaceans to China since last week, Ahmed Al-Bala’a, chief executive officer of the National Aquaculture Group, said in a statement. Saudi Arabia is testing the waters in China for shrimp as it seeks to reduce its reliance on oil and develop new industries and lines of business. Saudi shrimp exports to China should exceed 30,000 tons by the end of the year, said Al-Bala’a, whose closely held company operates a sprawling network of shrimp farms on the Red Sea coast.

  • $3B company relocating HQ from California to North Texas
    American City Business Journals5 hours ago

    $3B company relocating HQ from California to North Texas

    A global medical technologies company is relocating its corporate headquarters from California to North Texas. The latest in a steady stream of moves from California to Texas, DJO plans to move its operations from San Diego to Lewisville within the first few months of 2019, according to a release. The company provides products that assist in injury prevention, rehabilitation and more.

  • Markets have yet to bottom, says investor
    CNBC Videos1 hour ago

    Markets have yet to bottom, says investor

    Bill Smead, CEO and chief investment officer at Smead Capital Management, and Brad McMillan, chief investment officer at Commonwealth Financial Network, discuss the market movement and their outlook for the next year with CNBC's "Power Lunch" team.

  • Here’s what smart rich people really do with their nest egg
    MarketWatchyesterday

    Here’s what smart rich people really do with their nest egg

    Most people think they’re above average in intelligence, relationship status and professional achievement. Social scientists call this “illusory superiority.” My business partner Scott Puritz, has found the one area where even above-average people, objectively smart, rich, successful professionals, seem to wave the white flag and admit to not understanding — money and investing. “One of the most shocking things is the low-level financial literacy throughout our culture,” Puritz told the Washington Post.

  • TheStreet.com7 hours ago

    Most Americans Feel It's Harder to Retire Now Than It Was 5 Years Ago

    This might not come as a surprise to students of retirement, but it does shed light on the need for Americans of all ages to plan -- and preferably with the help of a financial planner who is a fiduciary and one who provides comprehensive holistic advice -- for their future. Consider: Two-thirds of households have less than $100,000 saved for retirement, according to an election-night survey of more than 1,000 American voters released by Certified Financial Planner Board of Standards (CFP Board) in collaboration with research-led consulting firm, Heart+Mind Strategies. While almost two-in-three (62%) are confident in their ability to maintain their savings as they transition to retirement, less than half (45%) think their savings will last them through retirement.

  • Where McDonald's reigns as most popular brand in 50 states
    American City Business Journalsyesterday

    Where McDonald's reigns as most popular brand in 50 states

    Burger behemoth McDonald’s no doubt will be happy to know it has emerged as one of two brands said to be the most popular among consumers in its home state of Illinois, according to a new study of the most popular brands state by state. UPS wasn’t just one of the two most popular brands in Illinois alone. The company also was cited as the single-most popular brand in six other states, including Idaho, Utah, Arizona, New Mexico, Texas and Maryland. UPS tied with Coca-Cola (NYSE: KO) and Mercedes-Benz as the most popular brands in Georgia.

  • Boeing unveils new luxury VIP 777X business jet for world's wealthiest flyers (Photos)
    American City Business Journals2 days ago

    Boeing unveils new luxury VIP 777X business jet for world's wealthiest flyers (Photos)

    Boeing unveiled a new luxury VIP business jet model for its massive new 777X widebody jet. Boeing said it plans to launch a 777X VIP luxury business jet that can fly more than half way around the world nonstop – farther than any business jet ever built. "Our most exclusive customers want to travel with the best space and comfort and fly directly to their destination," said Greg Laxton, head of Boeing Business Jets.

  • Wells Fargo says to invest in 'bond-like stocks'
    CNBC Videos22 hours ago

    Wells Fargo says to invest in 'bond-like stocks'

    Kirk Hartman of Wells Fargo Asset Management says there are "a lot of" opportunities, but he would invest in bonds and bond-like stocks in the current environment.

  • TheStreet.com5 hours ago

    Farm Bill Passes, and These Hemp Companies Will Be Big Winners

    Top 5 Hemp Companies Cannabis research firm Brightfield Group found that hemp-derived CBD (cannabidiol) sales in the U.S. hit $291 million in 2017. Brightfield also said that with the anticipated passing of the 2018 U.S. Farm Bill, the hemp-derived CBD market is expected to quickly go mainstream and become a $5.7 billion market by next year, and a $22 billion market by 2022 -- nearly 40x its current size. This number tends to be larger than most other hemp market estimates.

  • Sure, Verizon blew $4.6 billion on AOL and Yahoo, but at least it isn't AT&T
    CNBCyesterday

    Sure, Verizon blew $4.6 billion on AOL and Yahoo, but at least it isn't AT&T

    Verizon wrote off $4.6 billion from its AOL and Yahoo acquisitions, an admission that Oath hasn't succeeded within the broader company. Verizon had received criticism at the time that it was too cautious around media, but staying away from big deals may have been the right move for the company. When Verizon VZ acquired Yahoo for $4.8 billion in 2016 after spending $4.4 billion for AOL a year earlier, investors and analysts were skeptical .

  • Bernie Madoff Victims Get $419 Million Payment 10 Years After Arrest
    Fortuneyesterday

    Bernie Madoff Victims Get $419 Million Payment 10 Years After Arrest

    Another batch of compensation checks is in the works for victims of Bernard Madoff on the 10th anniversary of the con man’s arrest in New York following the collapse of his $19 billion Ponzi scheme. Irving Picard, the trustee unwinding Madoff’s defunct investment advisory firm, said in a statement Tuesday that he asked a bankruptcy court judge to authorize $419 million in distributions on approved claims, which will go out to 880 accounts. While victims will never recover the $45 billion in fake profits Madoff claimed on account statements, the trustee has focused on returning the cash they invested.

  • 3 Chip Stocks to Buy for the Next 3 Years
    InvestorPlaceyesterday

    3 Chip Stocks to Buy for the Next 3 Years

    Chip stocks have been among the market’s biggest winners over the past several years. Huge demand tailwinds from the data center, cloud computing, connected device and artificial intelligence (AI) markets have converged on a limited-supply base, creating a “high demand, low supply” dynamic in the chip market wherein chip prices are soaring. Such improvements have driven huge gains in chip stocks. Chip supply won’t remain subdued forever — it is already ramping to meet demand, and there are some reports out there that chip prices may have already peaked.

  • Bloomberg4 hours ago

    A Harvard Professor Made $400 Million in Moderna’s Biotech IPO

    I have an academic lifestyle,” Springer said in an interview. I’m not into ramen noodles, but my friends are academics, so it doesn’t really behoove me to be flashy. His few indulgences include a modernist home in Boston's upscale Chestnut Hill neighborhood, where Springer, 70, devotes his surplus energy to keeping a prolific garden.

  • Oracle is suing the U.S. government over $10B Pentagon JEDI cloud contract process
    TechCrunch50 minutes ago

    Oracle is suing the U.S. government over $10B Pentagon JEDI cloud contract process

    Oracle filed suit in federal court last week alleging yet again that the decade-long $10 billion Pentagon JEDI contract with its single-vendor award is unfair and illegal. The complaint, which has been sealed at Oracle's request, is available in the public record with redactions. If all of this sounds familiar, it's because it's the same argument the company used when it filed a similar complaint with the Government Accountability Office (GAO) last August.

  • How to Retire in Germany
    SmartAsset2 days ago

    How to Retire in Germany

    Germany has become a popular destination for American retirees due to its reasonable costs, excellent healthcare system and well-kept infrastructure. As any financial advisor will tell you, one of the most important factors to consider when building a retirement plan is your cost of living. Like any other country, how much money you’ll need to live in Germany will depend on the city you choose.

  • Samsung to shut mobile phone plant in China's Tianjin
    Reuters10 hours ago

    Samsung to shut mobile phone plant in China's Tianjin

    Samsung Electronics will cease operations at one of its mobile phone manufacturing plants in China, the company said, as its sales in the world's biggest smartphone market slumps amid rising competition from lower-cost local rivals. The South Korean company has seen its share of the Chinese market shrink to 1 percent in the first quarter of this year, losing out to home-grown brands like Huawei, according to market research firm Counterpoint, which pegs Samsung's share of the pie at about 15 percent at mid-2013. "As part of ongoing efforts to enhance efficiency in our production facilities, Samsung Electronics has arrived at the difficult decision to cease operations of Tianjin Samsung Electronics Telecommunication," Samsung said in a statement, referring to the plant in northern Chinese city of Tianjin.

  • There could be an unlikely place to hide out if a recession is coming: Housing
    CNBCyesterday

    There could be an unlikely place to hide out if a recession is coming: Housing

    The U.S. housing market has weathered all the recessions since 1980, with the exception of the Great Recession of 2008, Jefferies pointed out in a recent note. The FHFA U.S. house price index rose by an average of 7.4 percent in the year prior to a recession and prices rose an average of 2.7 percent from the start of a recession to the end, the note stated. "Other than during the GFC (Great Financial Crisis), home prices have kept rising even during recessions, probably because rates fall, the vast majority of people retained jobs and household formation continues," said Thomas J. Thornton, Jefferies' head of U.S. equity product management, in the note to clients Saturday.

  • CNBCyesterday

    Get a bigger monthly check by using these Social Security claiming strategies

    If you're like most American workers, you plan to rely on Social Security benefits for at least some of your income in retirement. Getting the most from your benefits requires that you choose the best claiming strategy for you, a choice that can confuse many retirees. Many American workers plan to rely on Social Security benefits as a steady source of income in retirement.

  • Fox Business20 hours ago

    Huawei CFO gets bail; China detains ex-Canadian diplomat

    The chief financial officer of Chinese telecommunications giant Huawei was granted bail by a Canadian court on Tuesday, just more than a week after being arrested in Vancouver at the behest of the United States. After three days of hearings, a British Columbia justice granted bail of $10 million Canadian (US$7.5 million) to Meng Wanzhou, but required her to wear an ankle bracelet, surrender her passports, stay in Vancouver and its suburbs and confine herself to one of her two Vancouver homes from 11 p.m. to 6 a.m. The decision was met with applause in the packed courtroom, where members of Vancouver's Chinese community had turned out to show support for Meng.

  • GE shares fall as low as $6.66, its closing price low during the financial crisis
    CNBCyesterday

    GE shares fall as low as $6.66, its closing price low during the financial crisis

    GE shares fell in Tuesday trading as far as the lowest close during the financial crisis. General Electric GE shares fell as low as $6.66 share in trading Tuesday, a level which marked the lowest close for the stock during the financial crisis a decade ago. Despite a brief rally after the appointment of Larry Culp as chairman and CEO, the beleaguered industrial company's stock has sold off.