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Breaking News - Latest of The Hour: Earnings, Wealth

05/19/2019

Millennials need to get off the sidelines and start investing now Despite the many benefits of investing early and often, too many millennials sit on the sidelines because they worry about the risk of a repeat of the Great Recession of 2008....
16:34, 05/18/2019

Consumer watchdog sues law firm that filed 99,000 debt-collection suits The Consumer Financial Protection Bureau's complaint against a New York debt-collection law firm alleges that its attorneys signed off on tens of thousands of lawsuits against consumers without vetting the facts....
23:51, 05/17/2019

The wealthiest investors are ramping up on this asset Even if you're a millionaire, cash is king. Investors in TIGER 21, a group of individuals with at least $10 million to invest, stepped up their allocation toward cash during the first three months of 2019....
20:34, 05/17/2019

The government, the biggest cause of the student loan crisis in the US, needs to fix this problem Governments need to find the resources to help families make smarter financial decisions about college during children's high school years. That way, young people will enjoy a great education with less debt and better financial outcomes....
16:00, 05/17/2019

Deere blames escalating trade war for worsening outlook An escalating trade war between the U.S. and China threatens to hit U.S. exports of key commodities, hurting farm incomes and demand for Deere's equipment....
15:34, 05/17/2019

3 steps to determine whether you've earned the right to invest You'll have to tidy up your finances before you can start investing, says Douglas A. Boneparth, president of Bone Fide Wealth in New York. Where to begin....
03:17, 05/17/2019

Metropolitan Museum of Art says it will no longer accept gifts from Sackler family The moves comes after other leading cultural institutions, including the Guggenheim in New York and the Tate in London, said they would cut ties with the family....
15:17, 05/16/2019

Living with your parents to save money might dim your chances of becoming a homeowner Young adults who lived with their parents between the ages of 25 and 34 were actually less likely to become homeowners after 10 years than those who didn't....
15:17, 05/16/2019

Own a home? How you can get some tax-free income this summer Travel season is about to heat up. Here's what you should know if you want to rent out your dwelling to vacationers and reap a windfall on the side....
16:34, 05/15/2019

Tariffs may boost next year's Social Security cost-of-living adjustment. Why that could be bad If tariffs go into effect, Social Security benefits could get a bigger cost-of-living adjustment next year. But that's not necessarily good news for retirees....
22:17, 05/14/2019

What you don't know about this 401(k) investment could cost you Those bond funds in your retirement plan are generally safer than the stock funds, but they aren't bulletproof. Here are the major risks facing those fixed income investments....
19:00, 05/14/2019

Planning on growing wealth? Three steps to start investing Market havoc is temporary, but long-term growth through equities can help you fund your retirement. Douglas Boneparth, certified financial planner and president of Bone Fide Wealth, discusses where to begin....
18:34, 05/14/2019

Tencent Music charges for more content as paying users drive profit beat China's Tencent Music Entertainment Group said it had started charging for more of its content in the first quarter as the popularity of its pay-for-streaming services helped drive up profit....
12:51, 05/14/2019

3 tips to save and succeed at a community college When it comes to a two-year college, affordability is only part of the story. Students who want to wrap up their education in a timely fashion or transfer to a four-year school need to plan early....
06:17, 05/11/2019

Wealth Matters: How Loopholes Help Trump and Other Real Estate Moguls Avoid Taxes The ability to deduct business losses against income tax is common. But there are myriad other benefits, all legal, created specifically for commercial real estate....
19:00, 05/10/2019

Societe Generale Private Banking: Building a pan-European footprint Societe Generale has had a presence in Luxembourg since 1893, making it the oldest foreign bank in the Grand Duchy. As well as being one of the market leaders, Societe Generale is now the fifth largest employer in Luxembourg’s thriving and business-o...
16:17, 05/10/2019

Royal baby Archie faces a complicated tax situation As an American living overseas, Archie Harrison Mountbatten-Windsor, the newborn son of Prince Harry and Meghan Markle, will have to navigate complex tax rules....
15:34, 05/10/2019

What every woman needs to know about investing Investing isn't just a man's game. Financial equality and independence are just as important for women. And for those women looking to seek a life of prosperity and build wealth, having the right investing skills is the key....
15:34, 05/10/2019

Here's the one tip you need to know when saving for retirement If there's only one concept you need to know when saving for retirement, it's this: compound interest. With compounding, you make money on your money....
00:00, 05/10/2019

Some parents turn to insurance to protect the cost of their kids' education With the cost of a four-year degree at a public college at more than $80,000 — and nearly $15,000 at private universities — tuition insurance is gaining a foothold....
17:51, 05/09/2019

70% of adults over age 50 get this wrong about Social Security Social Security is a key ingredient in the recipe for sustainable retirement income, yet few older adults understand how to maximize those benefits, according to a study from Nationwide Retirement Institute....
22:17, 05/08/2019

Sprint loses more phone subscribers than feared in the fourth quarter Wireless carrier Sprint on Tuesday reported greater-than-feared losses in phone subscribers who pay a monthly bill, as the company struggled to keep customers from going to larger rivals....
22:00, 05/08/2019

How to make the switch from a two-income household to just one Whatever the reason a couple considers going from two incomes to one, the decision can be overwhelming and even frightening. However, anyone can sail through this transition with proper planning and be glad they made the change....
14:00, 05/08/2019

Mallinckrodt stock swings up 16%, then down, after drugmaker raises 2019 profit outlook Mallinckrodt Pharmaceuticals rose as much as 16.4% but opened lower after first-quarter earnings beat projections and the company raised its guidance....
19:00, 05/07/2019

Mylan quarterly revenue misses estimates, shares fall Drugmaker Mylan missed Wall Street estimates for quarterly revenue, hurt by restructuring at its Morgantown plant in West Virginia and a stronger dollar,....
19:00, 05/07/2019

Pioneer Natural profit beats, takes 'Permian pure play' tag with asset sale Pioneer Natural Resources beat Wall Street estimates for quarterly profit, and said it sold its Eagle Ford and remaining assets in South Texas to become a pure-play Permian basin producer....
15:34, 05/07/2019

Lyft has been a train wreck of a stock. Now it's about to report its first big earnings loss Lyft shares are down 30% since its trade debut, and now the rideshare firm is preparing for another first: earnings as a public company. While its path to profits is still a long one, it will need to show investors revenue growth and cost-cutting....
15:34, 05/07/2019

AIG shares jump as profit beats on strong underwriting and lower costs Insurer AIG reported first-quarter earnings that trounced Wall Street estimates, as its general insurance business posted its first underwriting profit since the financial crisis....
12:00, 05/07/2019

Why working into old age may not salvage your retirement Nobody plans for a debilitating health condition toward the end of their career. This surprise can destroy older workers' income and their retirement plans....
11:17, 05/07/2019

An incovenient truth: The road to retirement means working longer and longer The days of traditional retirement may be over. Potential retirees at the lower and middle end of the economic spectrum simply can't afford to stop working given the higher costs of health care and housing....
11:17, 05/07/2019

'American Ninja Warrior' host Akbar Gbajabiamila's simple money secret: Live within your means Akbar Gbajabiamila came from South Central Los Angeles to become an NFL player and TV host. During that time, he formed ideas about money that he still carries with him today....
11:17, 05/07/2019

Young or old, it's a good time to get hired Whether you're graduating from college or you've been in your job for years and are ready for a change, it's a good time to get a new gig. Here's how....
15:34, 05/04/2019

'I could actually plan my life': What student debt forgiveness would mean for borrowers When Elizabeth Warren released her sweeping student loan forgiveness proposal, many borrowers imagined how their lives would transform with less debt....
15:34, 05/04/2019

Social Security, a lifeline for millions, needs its own life preserver Social Security's current and future beneficiaries deserve better than a symbolic month each year. They deserve a predictable program that can be relied upon, one that is on sound financial footing....
22:00, 05/03/2019

Wealth Matters: Investing for Social Impact Is Complicated. Here Are 4 Ways to Simplify It. Many organizations measure the effect of investments meant to spur positive change, but the metrics they use, and their results, vary. Several are trying to make it easier....
15:51, 05/03/2019

DowDuPont profit slumps 28%, hit by lower chemical demand Floods in the U.S. Midwest and a sluggish growth in auto and smartphone markets hit prices of its specialty and agricultural chemicals as well as volumes in North America....
23:34, 05/02/2019

Happily indebted after: Millennials go broke over the bachelor party When it comes to the cost of attending a wedding, being there for the big day is only a fraction of the overall expense. Guests run themselves into the red as they try to attend pre-wedding festivities....
18:51, 05/01/2019

Yum Brands first-quarter earnings top expectations on KFC and Taco Bell sales The parent company of fast-food franchises KFC, Taco Bell and Pizza Hut reported first-quarter earnings Wednesday that beat Wall Street's expectations....
14:09, 05/01/2019

Transferring to your dream college? Ask these 3 questions first Your high-schooler may have missed the boat at his No. 1 college choice, but he may have a second opportunity via a transfer. Here's what you need to know to make it a smooth transition....
19:51, 04/30/2019

Three major pharmaceutical companies just reported earnings — here's how they did Shares of pharmaceutical giants Pfizer and Merck rose in premarket trading after reporting first-quarter financial results that beat Wall Street's expectations....
14:00, 04/30/2019

Teens don't believe they'll be financially independent from parents by 30: Survey More than 30% of teens don't believe they'll be financially independent from their parents by 30, according to a new study from Junior Achievement and Citizens Bank....
15:34, 04/29/2019

Spotify shares jump after it hits 100 million paid subscribers for its premium service Spotify Technology reported a better-than-expected rise in first-quarter revenue as the music streaming company hit 100 million paid subscribers for its premium service....
13:34, 04/29/2019

Your Money Adviser: Health Savings Accounts Can Reduce Tax Bills. But Beware the Paperwork. Money in an H.S.A. can pay doctors or dentists. It can also be invested and cover future costs. Still, one financial adviser said, “It is a paperwork hassle.”...
08:00, 04/29/2019

Corner Office: Thasunda Brown Duckett of Chase: ‘People Need to Know Who You Are’ With a passion for increasing financial literacy and a gift for establishing personal relationships, Ms. Duckett has had a meteoric rise through corporate America....
08:00, 04/29/2019

Demand for 'BumbleBee' Transformers toys helps Hasbro beat revenue estimates; shares jump 15% Hasbro reported a surprise quarterly profit on Tuesday as the box-office success of Transformers movie spin-off "Bumblebee" charged sales of its action toys, putting the company's shares on track for their best day in more than two decades....
22:17, 04/28/2019

Facebook investors brace for an update from Zuckerberg on the company's planned pivot to privacy With Facebook set to release quarterly results Wednesday afternoon, Wall Street wants to know how well the company is preparing to make money beyond ads....
22:17, 04/28/2019

Chipotle earnings top estimates as digital sales double, boosts same-store sales outlook Chipotle Mexican Grill on Wednesday reported earnings and revenue that beat analysts' expectations after doubling its digital sales during the quarter....
22:17, 04/28/2019

Strong sales of Barbie, 'Jurassic Park' toys help stem Mattel losses, shares soar Shares of Mattel skyrocketed as much as 14 percent after the closing bell Thursday after the company posted a narrower earnings loss than analysts had expected....
22:17, 04/28/2019

Your Money: The New Equifax Boss Wants to Make Amends. We Have Some Questions. Mark Begor thinks Equifax can be the consumer-friendly credit bureau. So where are our free credit reports, automatic credit freezes for babies and consistent straight talk?...
22:00, 04/28/2019

Why that IRS calculator might not be enough to pinpoint your 2019 tax liability If you're unhappy with your 2018 taxes, now is the time to make changes to head off a similar result next year. Be aware that you'll need more than the IRS tax calculator to get the most accurate results....
19:51, 04/28/2019

That expected Social Security shortfall won't stand in the way of expansion, advocates say As the annual trustees report warns of impending trouble if Congress doesn't act, advocates hope lawmakers take action to both strengthen the program's finances and expand its benefits....
19:51, 04/28/2019

A Roth 401(k) offers tax advantages. Here's how it works When you contribute to a Roth 401(k), the contribution won't lower your taxable income today. But when you eventually take the money out, similar to a Roth IRA, it's completely and utterly tax-free....
19:51, 04/28/2019

Expert advocates using 401(k) savings to fatten Social Security checks Today's retirees have high debts and low savings. Nobel laureate Richard Thaler thinks buying into an annuity-type program through the Social Security Administration can help solve that. But other experts are not so sure....
19:51, 04/28/2019

Not a millionaire? Pay for expert financial advice the same way you pay for Netflix Seeking financial advice? There's a monthly subscription for that, too. Some financial advisors are adopting a subscription fee payment schedule in order to bring on young clients who are still accumulating wealth....
19:51, 04/28/2019

Are Americans overly confident about retirement? Americans may say they're more confident than ever about financing their retirements, but the question remains: Will they actually have enough money?...
19:51, 04/28/2019

Adult children are eating into parents' retirement savings: Study Coughing up cash to pay for summer camp and more? Expect to keep footing the bill for your child well after he turns 18. Half of parents with adult kids say they've compromised their retirement savings for them, Bankrate.com found....
19:51, 04/28/2019

Are you afraid of running out of money in retirement? This score can help assess your risk Creating a steady stream of income in retirement is one of the biggest challenges today's retirees face. Here's how you can evaluate your situation....
19:51, 04/28/2019

If you have been wait-listed at your dream college, it may be time to cut bait High school seniors generally have until May 1 to commit to a college for the fall semester. But what if you're still on the waitlist at your dream school? Here's what to do next....
19:51, 04/28/2019

The IRS stats are in: Here's how tax refunds look compared to last year The average tax refund check is nearly on par with last year's figures, but CPAs warn that this data point tells only part of the story. Here's what changed for taxpayers post-tax reform....
19:51, 04/28/2019

Your Money Adviser: Still Haven’t Filed Your Taxes? Here, Last-Minute Advice Fewer taxpayers than last year had filed by late March. That may be because of the new tax law. “This is the most complicated tax season ever,” one C.P.A. said....
19:34, 04/28/2019

Your Money Adviser: Checking on Social Security Estimates Is a Good Idea, but Many People Don’t Do It The Social Security Administration used to mail out many more statements each year. Now, it encourages workers to go online. A new report says millions haven’t looked....
19:34, 04/28/2019

For Stocks, the Good Times Came Back. But for How Long? In early 2019, the stock market soared. We provide detailed analysis, along with a dollop of humor and a glimpse of a new thing: climate-change funds....
19:34, 04/28/2019

Your Money: Your Student Loan Servicer Will Call You Back in a Year. Sorry. Many public servants in the federal loan forgiveness program spot errors in the count of their qualifying payments. Their servicer tells them reviews will take a while....
19:34, 04/28/2019

Your Money Adviser: Before Deciding on a College, Look Closely at the Financial Aid Letter Schools are not required to use the same terminology in their offers. And an “award” could mean a grant — or a loan. “Celebrate,” one expert says. “Then, decide.”...
19:34, 04/28/2019

Strategies: ‘Medicare for All’ Is Hammering Health Care Stocks. For Now. The popularity of proposals for a government-run, single-payer system among Democratic presidential candidates has hurt health care stocks, despite their strong earnings....
19:34, 04/28/2019

Wealth Matters: 4 Tax Strategies That Could Make a Divorce Settlement Easier Divorce negotiations are never easy, and they became more complicated this year, thanks to the tax overhaul. Here are four tips for taxpayers to consider....
19:34, 04/28/2019

Apple's new services: Will they work? Jon Fortt discusses Apple's new subscription services, with Fast Money editor-in-chief Stephanie Mehta, Finji CEO Rebekah Saltsman, and Quartz editor-in-chief Kevin Delaney...
18:51, 04/28/2019

Beyond the college cheating scandal The college admissions cheating scandal rocked higher education and dozens of individuals involved in the investigation. Jon Fortt and a panel of experts break down what it means for the future of the admissions process....
18:51, 04/28/2019

Private jet service JetSmarter agrees to $3 million arbitration settlement JetSmarter has reached an agreement to settle claims made by some of its members that the company engaged in unfair and deceptive practices, according to a settlement notice....
18:51, 04/28/2019

Private jet company Vista Global to acquire JetSmarter, once touted as the Uber of private jets Private jet company Vista Global agreed to acquire JetSmarter, betting that the value of JetSmarter's technology will outweigh the controversy and lawsuits still dogging the company....
18:51, 04/28/2019

Millennials are being left out of the world's middle class, research says Millennials are being squeezed out of the world's middle class as incomes stagnate and costs rise, according to research by the Organization for Economic Co-operation and Development (OECD)....
18:51, 04/28/2019

Baby T-Rex fossil listed for sale on eBay for $3 million The eBay listing, last updated on Tuesday, claims the artifact is "most likely the only baby T-rex in the world," adding that the specimen has a 15-foot-long body, 21-inch skull and serrated teeth....
18:51, 04/28/2019

America's wealthy investors say Fed-induced stock rally has plenty of life left — maybe years Millionaire investors began 2019 worried about the market, but as the Fed's about-face on interest rates takes hold as the new normal in monetary policy and stocks surge, an E-Trade survey finds that the wealthy expect the rally to continue....
18:51, 04/28/2019

Talking money with Suzy Welch: 'You don't have to be an expert to get into the market' Investing is a great way to grow your money, but the fear of not knowing enough about the market and losing money tends to scare people off. But life management expert Suzy Welch says you don't need to be an expert to win big....
18:51, 04/28/2019

Melinda Gates: Capitalism needs work, but it beats socialism and the US is 'lucky' to have it Melinda Gates, in an interview with CNBC's Becky Quick, says people living in developing countries "want to live in these types of capitalistic societies."...
18:51, 04/28/2019

FBI and US attorney question JetSmarter customers Customers of JetSmarter say they have been questioned about the private jet company's business practices and communications. The scope and nature of the inquiries are unclear....
18:51, 04/28/2019

De Ferrari ditches Credit Suisse for AMP – an altogether different job Francesco de Ferrari was running private banking for Asia at Credit Suisse – arguably one of the most important and well-positioned roles in the bank – so why has he given it up to become CEO of beleaguered Australian wealth manager AMP, a place so t...
18:17, 04/28/2019

Global private banking debate: Trust, scale and security key factors in a digital world Meeting the needs of high net-worth families is more challenging and fascinating than ever. Private banks are investing in new forms of digital communication, catering to clients’ philanthropic demands, boosting fee transparency and finding ways to a...
18:17, 04/28/2019

Societe Generale Private Banking (SGPB): Embracing phygitalization Over the last five decades, Societe Generale has been synonymous with innovation, says Jean-François Mazaud, Head of the group’s private banking unit (SGPB)....
18:17, 04/28/2019

Asia private banking debate: Great opportunities in Asia Asia offers a unique client set of young entrepreneurs; it also offers the challenge of new generations inheriting wealth with different expectations from their predecessors. That is a great opportunity, but it requires private banks to be nimble, th...
18:17, 04/28/2019

Societe Generale Wealth & Asset Management activities: Setting new standards in SRI and ESG "Our primary mission is to protect our clients’ wealth. How they can as well invest in a positive and sustainable way is more and more at the centre of our dialogue with them.”...
18:17, 04/28/2019

India’s wealth managers find profit in the provinces The face of wealth management in India is changing, as vast fortunes are made by young digital disruptors and as private banks venture out of the main commercial hubs in search of untapped profit and potential in second-tier cities....
18:17, 04/28/2019

50 Years of Private Banking - A Special Report Euromoney Magazine has charted the birth, growth and maturity of the global private banking industry over 50 years. This special report is the distilled essence of five decades of innovation and change. We look at how private banking has evolved, and...
18:17, 04/28/2019

Private banking across the decades Euromoney’s coverage of private banking since our launch in 1969 reflects the changes in the industry itself. The first 30 years were dominated by Swiss banks – and trying to get into their inner sanctums. The last two decades have seen the evolution...
18:17, 04/28/2019

Private banking: Who stays in Asia, wins in Asia For many private banks that set up in Asia in the last decade, the cost of doing business kept them locked out of the vast expansion of wealth in the region; those that didn’t leave are settling into a more mature industry, but they are a long way fr...
18:17, 04/28/2019

Private banking architects: Jürg Zeltner – the pioneer of the CIO Jürg Zeltner, former chief executive of UBS Wealth Management, explains how the chief investment office was born out of chaos. Its introduction shifted not just UBS but the whole private banking industry to a model of professionalism....
18:17, 04/28/2019

From private bank client to farmer: a Chinese model of social lending Financial services group CreditEase runs an app through which its private banking clients can be connected to needy women farmers in China’s rural interior. It’s a remarkable initiative taken up by 200,000 farmers and shows what can be done with low-...
18:17, 04/28/2019

Private banking architects: Mark Branson – the man who cleaned up private banking Mark Branson, chief executive officer of Swiss financial regulator Finma, talks to Euromoney about how tax transparency has changed the trajectory of private banking and how far regulation can go in curtailing misconduct....
18:17, 04/28/2019

Private banking architects: Mary Callahan Erdoes – broadening clients’ investment horizons Mary Callahan Erdoes of JPMorgan speaks to Euromoney about being the port in the storm during the financial crisis and opening up the private wealth market to the whole investment industry....
18:17, 04/28/2019

Private banking architects: Tan Su Shan – leading the charge for Asia’s wealthy Tan Su Shan has led DBS’s efforts to become the leading home-grown bank for wealth management in Asia, during a decade in which the number of billionaires in the region has soared....
18:17, 04/28/2019

Private Banking and Wealth Management Survey 2019: Results Index More than 2,000 private bankers took part in the 2019 Euromoney private banking survey. See who’s up and who’s down globally, regionally and by country....
18:17, 04/28/2019

Women in private banking: Why we need a new normal Wealth management was built by men for men, but now that women will become the largest beneficiaries of the $30 trillion intergenerational wealth transfer, the industry needs to overhaul itself. If it doesn’t, it will be letting down more than just i...
18:17, 04/28/2019

Private banking: Wealthtech 2.0 – when human meets robot If there was ever a risk of client advisers being replaced by robots, that danger has now passed. Today both robo-advisers and large wealth managers see the importance of having humans and technology work together....
18:17, 04/28/2019

Wealth management: The Next Generation The last 20 years of private banking have been all about building scale, international growth and professionalization; the top wealth managers are still getting bigger and are confident they have the right model – but as they struggle to maintain qua...
18:17, 04/28/2019

Private Banking Awards Dinner 2019 Euromoney’s Private Banking Awards are the most prestigious in the growing area of wealth management. They cover over 60 countries each year, as well as global and regional awards....
18:17, 04/28/2019

Private banking: Wealth becomes exciting again in Brazil After so long, private bank clients and even retail investors are no longer happy with the returns from government bonds; instead, they are searching for yield and pushing up the value of risk assets....
18:17, 04/28/2019

Why private capital will dominate markets for the decades to come Big pools of private capital, led by sovereign wealth funds, private equity sponsors and family offices, now dominate capital formation in the key growth industry sectors of technology and biotech and the expanding markets of Asia. New tech will let ...
18:17, 04/28/2019

CITIC Bank Private Bank: Success = Technology + Human Touch CITIC Private Bank is leading Chinese private wealth managers in the adaptation of technology, but it is not forgetting the most important element of customer service and the notion that each App Must Have the Warmth of the Human Touch!...
18:17, 04/28/2019

Wealth management: Bank of Morgan Stanley Ten years on from the crisis, Morgan Stanley was already a different animal, with a shift to half its revenues generated from wealth management – what will it look like in another 10 years? Maybe more like Bank of America or JPMorgan…...
18:17, 04/28/2019