Some landlords are showing leniency to tenants hurt by the shutdown. Denise rents a house to a single mother in the town over from where she lives in East Fallowfield, Pennsylvania. She asked to use her first name only to protect the identity of her one tenant, who is a contractor for the Department of
The stock market has tumbled since October when trade battles intensified and recession fears crept in. It ended 2018 with the S&P 500 losing 6 percent, wiping out all the gains earlier in the year. In January 2018, the same indicator sent a strong sell signal when investors poured record cash into equities funds, indicating
Megadeals will take a breather this year after 2018 marked massive consolidation. With Disney expected to finalize its Fox deal shortly, Comcast focused on Sky and AT&T integrating Warner Media, the new group of giants has its hands full. Amazon, as it quickly scales its Hollywood presence, is likely to look at the remaining independent
A spokesman for the IRS would not speculate on how long the shutdown would have to last in order to result in a delay of refunds. However, millions of taxpayers tend to be early birds and submit their returns as soon as they can. Households might need the refunds to help pay off remaining holiday
“We wouldn’t hesitate to change it and that would include the balance sheet. We’re hearing a lot from different groups of people about the role the balance sheet normalization may be playing in the market,” he said. Powell explained that the Treasury issues more securities when the Fed’s balance sheet holdings mature. “We don’t believe
Federal Reserve Chairman Jerome Powell said Friday he would not resign from his post if President Donald Trump asked him to. “No,” Powell responded when asked by the moderator at the American Economic Association’s annual meeting: “If the president asked you to resign, would you do it?” Powell also said he had not received any
Elijah Nouvelage | Bloomberg | Getty Images Jerome Powell, chairman of the U.S. Federal Reserve, speaks during the American Economic Association and Allied Social Science Association Annual Meeting in Atlanta, Georgia, U.S., on Friday, Jan. 4, 2019. Federal Reserve Chairman Jerome Powell said Friday that the central bank “wouldn’t hesitate” to adjust how quickly it
Powell said the Fed has a history of adjusting its actions according to conditions. The Fed is “always prepared to shift the stance of policy and to shift it significantly” in order to achieve its dual mandate of full employment and stable prices. He cited 2016 as a recent example. In that year, the FOMC
[The stream is slated to start at 10:15 am ET. Please refresh the page if you do not see a player above at that time.] Subscribe to CNBC on YouTube. Three U.S. central bank leaders — current Federal Reserve Chairman Jerome Powell and his immediate past predecessors Janet Yellen and Ben Bernanke — were slated
Kudlow’s comments came shortly after China’s Commerce Ministry said Chinese and U.S. officials will meet next week to discuss trade. Both countries have been engaged in a trade spat for months that has sent ripples through global markets. They also come after Apple slashed its revenue guidance for the fiscal first quarter, citing an unexpected
Today’s public markets, which were first designed to fill the capital-raising needs of the 19th century, are out of step with capital formation in the 21st century. It’s essential to move the markets forward to provide adequate access to investment opportunity for all, and not just a few, investors. Right now, the average investor has
Planning to buy a car? You could be driving for a long time before you’re out of debt. As interest rates rise and vehicles become more expensive, that new car smell increasingly comes with larger loans and lengthier terms. In December 2018, the average loan for a new car was just above $32,000, compared with
Credit cards are one of the most common — and also one of the most expensive — ways to borrow money. Currently, credit card rates are at a record high, at an average of about 17 percent, according to Bankrate. The rate on a credit card cash advance is even higher. For example, the Chase
The pay packets of the U.K.’s top bosses have attracted criticism after a new report revealed the stunning disparity between the average British worker and a typical FTSE 100 CEO. Labeled “Fat Cat Friday”, January the 4th has been identified as the date by which the average CEO of a blue-chip British firm company collects
Investors are monitoring trade developments between Washington and Beijing for any clues as to how their trade dispute will reach a resolution. The two countries are trying to reach a breakthrough to resolve their differences over a 90-day tariffs truce. Last year was marred by an intense sparring of tariffs between the world’s two largest
If you find that you are at odds with your company’s culture but you wish to persevere, it may be worth reaching out to other teams within the organization to voice your concerns. “Changing the culture of an existing organization is no easy feat, and generally more challenging the larger the organization is,” Won said.
Investors are hoping a strong December jobs report and dovish words from the Federal Reserve chairman will ease rising concerns about an economic slowdown. The December employment report, released at 8:30 a.m. ET Friday, is expected to show 177,000 non-farm payrolls were added, after 155,000 in November, and an unchanged unemployment rate of 3.7 percent,
AT&T Inc.: “I like it. I think it yields almost 7 percent, I think they’ve got the cash flow, I think it’s got the management and I think that the stock is an opportunity.” UnitedHealth Group Inc.: “I think the stock is a buy. We bought it just the other day for [the charitable trust].
The health-care industry is swimming upstream when it comes to unemployment, says the CEO of hospital staffer AMN Healthcare Services. While the headline U.S. unemployment rate dipped below 4 percent in 2018, signaling powerful hiring trends, the health-care space has been a pocket of pain when it comes to hiring, Susan Salka, the president and
Apple‘s slowdown in China could mean bad news for Best Buy, according to one analyst. The iPhone maker cut its sales forecast Wednesday — a rare move by the tech giant — calling out weak sales in China and a trade war that’s levied high tariffs over the last several months across hundreds of products
Pascal Broze | Getty Images Allocating expenses into needs, goals and aspirations can help provide a better framework for managing your cash flow and living comfortably. The VA health system provides care for 9 million veterans each year at its 1,250 facilities, including 172 medical centers and more than 1,000 outpatient sites across the country.
Along with the rate hike, Fed officials collectively indicated that two more rate increases are likely this year. Markets, however, do not think that will happen and are pricing in less than a 10 percent chance of a hike before 2019 ends. “My own view is we shouldn’t take any further action on interest rates
“I think that puts a lot of pressure on China to make a deal,” Hassett told CNN. “Their economy, for them, you might call a ‘recession.’ It’s slowing down in a way that they haven’t seen in a decade.” The rare warning from Apple, which sparked concerns about the Chinese economy and growth prospects worldwide,
Joshua Roberts | Reuters A sign declares the National Archive is closed due to a partial federal government shutdown in Washington, December 22, 2018. If you’re a federal employee, you probably rang in the New Year worrying about whether you will get paid. That is because a partial government shutdown started at midnight on Dec.
It’s not all horrible news in CEO Tim Cook’s letter warning of lower guidance for the fiscal first quarter. He also expects “a new all-time record for Apple’s earnings per share.” That happened last year, too, when Apple reported its fiscal first-quarter 2018 results with an all-time record EPS of $3.89, up 16 percent from
Jim Young | Reuters President Donald Trump speaks during a Cabinet meeting on day 12 of the partial U.S. government shutdown at the White House in Washington, U.S., January 2, 2019. Some major banks are offering assistance to help customers who are affected by the government shutdown. Congress and President Donald Trump have been at
The decision drew outrage from Karen Attiah, Khashoggi’s former editor at the Post, and Sarah Leah Whitson, executive director of Human Rights Watch. Attiah slammed the move as “quite outrageous,” while Whitson said “Netflix’s claim to support artistic freedom means nothing if it bows to demands of government officials who believe in no freedom for
Several Wall Street analysts have been cutting their iPhone production forecasts in the last few weeks amid reports of lackluster demand for the latest models. In November, Apple also said it would no longer break out iPhone sales. Then came Wednesday’s announcement, when the California-based iPhone maker lowered guidance for fiscal first quarter revenue and
Manhattan real-estate suffered its worst year since the housing crash of 2009, as tax changes, stock-market turmoil and jittery foreign buyers hurt sales in 2018. Home sales in Manhattan fell 14 percent last year, the industry’s steepest drop since 2009, according to a report from Manhattan real estate companies Douglas Elliman and Miller Samuel. In
Apple shed 7 percent postmarket. Shares of semiconductor stocks fell after the announcement. Industrial giant Caterpillar, which draws a substantial amount of business from the Asia Pacific region, also saw its shares fall 3 percent in after-hours trade. The tech executive’s comments come amid ongoing trade disputes between the Washington and Beijing governments. While the