David Paul Morris | Bloomberg | Getty Images Reed Hastings, chairman, president and CEO of Netflix Inc. Facebook on Friday said Netflix CEO Reed Hastings will not be nominated for re-election at the company’s 2019 annual stockholders meetings. Hastings has served on the board of the social media company since 2011. The company said it
It’s now up to corporate America to reveal whether the U.S. economy simply hit a soft patch this winter, as many suspect, or is on the verge of falling into an even deeper rut. Earnings from a broad swath of industries, like financials, technology, transportation and consumer products roll out in the coming week as
However, some analysts covering the streaming space are doubtful of Disney+’s ability to disrupt Netflix’s dominant position, saying its family focused content offering lacks quality and quantity compared with Netflix’s. “We do not view Disney+ as a strong alternative to Netflix,” Suntrust tech analyst Matthew Thornton said in a note Friday. “Bottom-line, Disney+ features family
Among other allegations, the suit claims Madden had no experience in managing that amount of money and also invested it too conservatively, resulting in low returns. Her son’s lawyers have filed a motion to dismiss the suit, noting in their filing that none of the accounts lost money and that she had wanted her winnings
Top New York disc jockey and “Talk Stoop” host Nessa Diab has been interviewing celebrities for about a decade, a gig that has turned her into a huge celebrity herself. The 37-year-old southern California native who’s known for her mononym, Nessa, has quite an impressive resume: a celebrity-interviewer powerhouse, MTV personality and host of her
Hedge fund manager David Einhorn is taking more digs at Tesla. “The wheels are falling off — literally,” Einhorn, founder and president of Greenlight Capital, said in an investor letter seen by CNBC. Einhorn’s public bet against Tesla added to the fund’s 11 percent gain in the first quarter. The 50-year-old investor slammed Tesla’s safety
Talk to your tax preparer or CPA about the itemized deductions that you might still be eligible for on your state return – and don’t forget to bring those receipts. Here are a few breaks that are in play. Unreimbursed employee expenses: The federal tax overhaul suspended unreimbursed employee expenses, which is part of a
Many people who wind up with a smaller Social Security check because they claim their benefit early could have waited longer to file, thanks to funds in their individual retirement account. That’s the finding from a recently published study in the Journal of Pension Economics & Finance. “It seems like there is a significant portion
You want to do the financially responsible things, so why is it so hard to actually do them? “Spending is much easier than saving for most people,” said Stephen Brobeck, a senior fellow at the Consumer Federation of America. Companies, of course, set out to separate us from our cash. “We’re bombarded by ads for
Wells’ deposits fell less than expected, totaling $1.3 trillion. Loans came in at $950.1 billion, roughly in line with expectations. However, not all of Wells Fargo’s numbers were positive. Wells Fargo’s nonperforming assets totaled $7.3 billion, well above a $6.67 billion estimate from StreetAccount. The bank’s efficiency ratio was also higher than forecast, coming in
The couple had a luxurious home, and Gottberg’s husband was earning a decent amount of money, but their savings was not as healthy as they would have liked. They decided to look for something a bit smaller. The home they gave up had a pool, a spa, a three-car garage and four bedrooms — just
PNC Financial’s first-quarter profit met analysts’ estimates on Friday, as a rise in expenses and provision for credit losses overshadowed growth in interest income and loans. The lender’s expenses rose 2% to $2.58 billion, while provision for loan losses more than doubled to $189 million from a year ago. Net interest income rose about 5%
J.P. Morgan Chase on Friday reported record first-quarter profit and revenue that exceeded analysts’ expectations as the bank benefited from higher interest rates. The company said profit rose 5 percent to $9.18 billion, or $2.65 a share, compared with analysts’ average estimate of $2.35 a share. Revenue also rose 5 percent to $29.9 billion, exceeding
Justin Sullivan | CNBC The South Timbalier 52 facility, 30 miles offshore on the continental shelf, is one of more than 600 Chevron structures in the Gulf. Demand for LNG — natural gas chilled to liquid form for transport by sea — is soaring as countries like China aim to meet their energy needs with
Formed in the wake of Iran’s 1979 revolution, the deeply ideological IRGC was designated by Washington as a specially designated global terrorist (SDGT) and sanctioned under the Countering America’s Adversaries Through Sanctions Act (CAATSA) in 2017. Iran has been listed as a state sponsor of terror by the U.S. since 1984, and in 2007 its
Disney Chairman and CEO Bob Iger explained to CNBC’s David Faber that he believes customers will flock to the company’s new streaming service, Disney+, thanks to a unique combination of factors. “I’m pretty optimistic about the ability for this thing to work. Particularly when you make it accessible because of the content we’re putting on,
CNBC’s Jim Cramer on Thursday said it’s time for “wholesale change” in Bed Bath & Beyond‘s management. “The company still has a good balance sheet, $1 billion in cash, so I think it can be saved,” the “Mad Money” host said. “But I gotta tell you something: not with this management team.” The home goods
Macy’s used its savings from 2018 tax reform to create a “path for growth,” CEO Jeffrey Gennette told CNBC Thursday. The message came in response to Jeff Bezos’ challenge that retailers match Amazon’s employee compensation. “We decided to put [our tax savings] back into the community of our colleagues,” Gennette told Jim Cramer in an
Jason Redmond | AFP | Getty Images Workers are pictured next to a Boeing 737 MAX 9 airplane on the tarmac at the Boeing Renton Factory in Renton, Washington on March 12, 2019. Check out the companies making headlines after the bell: Shares of Boeing ticked higher in extended trading Thursday on news that the
It’s tax time in America — and not just for accountants. The April 15 deadline for federal tax returns is fast approaching. At the same time, taxing the wealthy is becoming a big political issue in the leadup to the 2020 presidential election. Rep. Alexandria Ocasio-Cortez, D-N.Y., proposed a 70 percent marginal tax rate on
Mike Windle | Getty Images Uber Ex-CEO Travis Kalanick speaks at a Vanity Fair summit at Yerba Buena Center for the Arts on October 19, 2016 in San Francisco, California. Uber co-founder Travis Kalanick, who was booted almost two years ago from the ride-hailing business he built into a global behemoth, still owns 8.6 percent
One feature of the new Tax Cuts and Jobs Act is a brand-new 20% deduction for qualified business income. The tax break is available to owners of “pass-through” entities, including sole proprietorships, S-corporations and partnerships. It isn’t available to everyone: Entrepreneurs with taxable income under $157,500 if single or $315,000 if married may take the
History seems to be on the bull’s side. The first quarter’s record rally that gave stocks their best start to a year since 1998 could turn out also to be a good omen. According to BMO, every time the S&P 500 scored a gain of 10% or more in the first quarter of a year
In 2013, the Consumer Financial Protection Bureau estimated that one-quarter of American workers could be eligible. However, the program has been plagued by problems. The bureau has since found that student loan servicers delay or deny borrowers access to the program by failing to provide them with accurate and complete information about its requirements. As
Vice President Mike Pence said Wednesday that the American dream was “dying until President Donald Trump was inaugurated” in 2017. “Was the American dream in trouble? You bet,” Pence said in an interview with CNBC’s Joe Kernan on “Squawk Box” Thursday morning. “I really do believe that’s why the American people chose a president whose
The nation’s credit card tab has reached $944 billion, according to NerdWallet. The average interest rate is about 17.7%, separate data from CreditCards.com shows. That compares to about 15.2% three years ago. Since 2016, the Federal Reserve has made eight increases to a key interest rate that affects consumer debt. It recently indicated that rates
Tax experts highlighted a couple of alternative strategies that IRA owners might consider to minimize taxes while passing on the account to a nonspouse heir, if the bill passes. Charitable remainder trusts allow investors to leave assets to a charitable organization and to a beneficiary. Your beneficiary would collect a stream of income from the
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). In a report published Wednesday, the 36-nation intergovernmental economic body said younger people were struggling to make it into that bracket, while those who were already included
Nothing is certain but death and taxes, Benjamin Franklin famously said. Today, that adage should also include rising health-care costs. As young adults start saving for the future, the ever-growing price tag of health care can throw a wrench into their plans. They should consider using a health savings account – it’s not the right
Whether you are required to submit a tax return depends on your filing status and your gross income. Single filers who are under 65 must file a 2018 return if their gross income was at least $12,000. The income threshold is a little higher — $13,600 — for singles who are 65 and up. Married
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