5 changes ahead for borrowers pursuing public service loan forgiveness

WASHINGTON, DC – JULY 27: Student loan debt holders take part in a demonstration outside of the white house staff entrance to demand that President Biden cancel student loan debt. Jemal Countess | Getty Images Entertainment | Getty Images A number of big changes are coming for borrowers pursuing public service loan forgiveness. That program, […]

Passage of Inflation Reduction Act gives Medicare historic new powers

A pharmacist collects medications for prescriptions at a pharmacy. Simon Dawson | Bloomberg | Getty Images Medicare is poised to renegotiate the prices of some of its most expensive drugs through a historic expansion of its power, which could reduce costs for many seniors as well as federal spending on its prescription drug plan. The […]

Rivian (RIVN) earnings Q2 2022

Rivian electric pickup trucks sit in a parking lot at a Rivian service center on May 09, 2022 in South San Francisco, California.  Justin Sullivan | Getty Images Electric vehicle maker Rivian Automotive maintained its full-year guidance for deliveries Thursday and reported second-quarter revenue that was higher than Wall Street expected. But it trimmed its […]

Shared company ownership may be the missing path to the American dream

The American dream—that foundational promise of economic opportunity, social mobility, and lasting security—looms large in our life stories. While access to this promise has been granted slowly and unevenly, at its best, our nation has been a beacon of democracy and free enterprise. Today, corporations remain too fixated on the latter at the expense of […]

BlackRock launches a private trust to give clients exposure to spot bitcoin

Larry Fink, chief executive officer of BlackRock Inc., gestures while speaking at the Handelsblatt Banking Summit in Frankfurt, Germany, on Wednesday, Sept. 4, 2019. Alex Kraus | Bloomberg | Getty Images BlackRock has launched a private trust offering institutional clients in the U.S. direct exposure to bitcoin. The largest asset manager in the world revealed […]

Switch from gas boosts oil demand, but economic headwinds loom — IEA

Speaking to CNBC on Monday, the executive director of the International Energy Agency spoke about the intricacies of the energy transition and the competing challenges that will need to be balanced in the years ahead. Imaginima | E+ | Getty Images Sweltering summer temperatures and soaring gas prices have boosted the use of oil in […]

China’s trade curbs on Taiwan after Pelosi visit are drop in the ocean

Beijing’s trade blocks against Taiwan affect about 0.04% of their two-way trade, reinforcing that these moves in Beijing’s playbook tend to be more political than economic, analysts said.  Beijing took action against Taiwan following U.S. House Speaker Nancy Pelosi’s visit to the island earlier this month despite warnings from Beijing. That included suspensions of imports […]

Hackers have stolen $1.4 billion this year using crypto bridges

Mining the Worlds Second-most-valuable Cryptocurrency at Evobits I.T SRL An engineer inspects Sapphire Technology Ltd. AMD graphics processing units (GPU) at the Evobits crypto farm in Cluj-Napoca, Romania, on Wednesday, Jan. 22, 2021. The worlds second-most-valuable cryptocurrency, Ethereum, rallied 75% this year, outpacing its larger rival Bitcoin. Photographer: Akos Stiller/Bloomberg via Getty Images Photographer: Akos […]

Boeing delivers first 787 Dreamliner since 2021 after manufacturing flaws

An employee works on the tail of a Boeing Co. Dreamliner 787 plane on the production line at the company’s final assembly facility in North Charleston, South Carolina. Travis Dove | Bloomberg | Getty Images Boeing delivered its first 787 Dreamliner in more than a year on Wednesday, ending a pause on handovers of the […]

Pakistan’s finance minister says country headed in ‘right direction’

Pakistan’s finance minister said the government has taken steps that will put the country on the right track and help the South Asian nation avoid an economic collapse. But that will cause pain for its people, he added. The country is desperately fighting for its survival as the recent rise in commodity and energy prices […]

Elon Musk sells 7.92 million Tesla shares worth $6.88 billion

NEW YORK, NEW YORK – MAY 02: Elon Musk attends The 2022 Met Gala Celebrating “In America: An Anthology of Fashion” at The Metropolitan Museum of Art on May 02, 2022 in New York City. (Photo by Dimitrios Kambouris/Getty Images for The Met Museum/Vogue) Dimitrios Kambouris | Getty Images Entertainment | Getty Images Tesla CEO […]

Sweetgreen stock plummets after salad chain cuts forecast, announces layoffs

A worker wears a Sweetgreen Inc. hat while preparing food inside the company’s restaurant in Boston, Massachusetts. Adam Glanzman | Bloomberg | Getty Images Shares of Sweetgreen plunged about 20% in extended trading Tuesday after the salad chain lowered its 2022 forecast. The restaurant company also said it laid off 5% of its support center […]

Micron to invest $40 billion in U.S. chip manufacturing

Sanjay Mehrota, CEO, Micron Scott Mlyn | CNBC Micron announced Tuesday it will invest $40 billion between now and 2030 to manufacture chips in the U.S. The investment is supported by grants and credits from the CHIPS and Science Act, which President Joe Biden will sign on Tuesday. Micron said it will create up to […]

Market outlook ‘too volatile’ to chase stock, bond rallies, asset manager says

Investors should eschew chasing recent rallies in stocks and bonds given the current economic uncertainty, according to the chief investment officer of Swiss asset manager Prime Partners. Francois Savary said it was hugely difficult to have clear economic visibility due to the particulars of the current investment cycle, such as the Covid-19 recovery and the […]

Is Japan open to travelers? It’s where Singaporeans want to travel

Some 49% of Singaporeans say they are considering Japan for their next vacation abroad, according to the market research firm YouGov. Interest may be even higher among young citizens. Some 68% of Singaporeans aged 16 to 24 years old indicated they are considering Japan for their “next vacation,” compared to 37% of those aged 55 […]

Investor Sarat Sethi has some stock picks to play inflation and a consumer slowdown

Investors should stick to companies that can keep generating earnings as they navigate high inflation and a consumer slowdown, according to DCLA’s Sarat Sethi. “Earnings are going to drive this market going forward,” Sethi said Monday on CNBC’s “Squawk Box.” “Not multiple expansion, not liquidity, it’s going to be where do we find earnings, and […]

SoftBank Vision Fund posts a $21.6 billion quarterly loss

SoftBank’s Vision Fund, the brainchild of the company’s founder Masayoshi Son, has faced a number of headwinds including a slump in technology stocks as a result of rising interest rates, a tough China market and geopolitics. Kentaro Takahash | Bloomberg | Getty Images SoftBank posted one of its biggest losses at its Vision Fund investment […]

Wall Street banks name their top growth stocks

Growth stocks have been slammed this year amid a broad bear market slump, but a slew of Wall Street banks believe the tide is now turning. Investors had rotated out of growth stocks — such as tech — and into value as soaring inflation and rising interest rates sent them clamoring for safer bets in […]

Senate passes sweeping climate, health and tax package, putting Democrats on cusp of historic win

U.S. Senate Majority Leader Chuck Schumer (D-NY) holds a news conference to tout the $430 billion drug pricing, energy and tax bill championed by Democrats at the U.S. Capitol in Washington, U.S. August 5, 2022.  Jonathan Ernst | Reuters WASHINGTON — Senate Democrats narrowly passed a sweeping climate and economic package on Sunday, putting President […]

U.S. Senate Democrats’ bill will make mark on climate, health-care costs

U.S. Senate Majority Leader Chuck Schumer (D-NY) holds his weekly news conference after the Democratic caucus party luncheon at the U.S. Capitol in Washington, August 2, 2022. Jonathan Ernst | Reuters The $430 billion climate change, health-care and tax bill passed by the U.S. Senate on Saturday delivers a major win for Democrats, and will […]

Eli Lilly says Indiana’s abortion law will lead the drugmaker to grow in other states

An Eli Lilly and Company pharmaceutical manufacturing plant is pictured at 50 ImClone Drive in Branchburg, New Jersey, March 5, 2021. Mike Segar | Reuters Drugmaker Eli Lilly, one of the biggest employers in Indiana, said that the state’s newly passed law restricting abortions will cause the company to grow away from its home turf. […]

Most of Warren Buffett’s equity portfolio is tied up in just 5 stocks. Here’s what they are

Warren Buffett’s Berkshire Hathaway just revealed that about 70% of its equity portfolio was concentrated up in just five names. Here’s a look at these high-conviction bets from the legendary investor. While the conglomerate enjoyed a big rebound in operating earnings, it did post a $53 billion loss on its investments during the second quarter […]

Sen. Kyrsten Sinema signs off on Democrats’ big agenda bill, paving the way for Senate passage

Sen. Kyrsten Sinema, D-Ariz., leaves her office to walk to the Senate Chambers in the U.S. Capitol Building on August 2, 2022. Lawmakers worked to come to a deal on sweeping Democratic legislation ahead of the August recess. Anna Moneymaker | Getty Images News | Getty Images Sen. Kyrsten Sinema signed off on sweeping Democratic legislation Thursday […]

Apple, Google, Amazon set to launch new gadgets: What to expect

Apple launches the iPhone 13 in the UK Ming Yeung | Getty Images Apple, Google, Amazon, Samsung and other firms are teeing up for a busy fall filled with lots of new gadget launches. It’s like clockwork. Big tech companies launch the latest products, like phones, watches, or even robots and flying security drones, beginning […]

Indian rupee weakness, hitting fresh lows amid global headwinds 

Two thousand rupee notes on display with an Indian flag in the background. Manish Rajput | SOPA Images | LightRocket via Getty Images The Indian rupee has come under intense selling pressure due to a perfect storm of global headwinds which analysts say will continue to pummel the currency in the months ahead. In recent […]

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