Americans plan to cut spending through holidays, survey says
U.S. consumers have cut back on spending this year, and they plan to continue to do so through the holidays, a new CNBC-Morning Consult survey has found. The vast majority of adults (92%) have reduced their spending over the past six months, according to a poll fielded on behalf of CNBC by Morning Consult, a […]
Opinion: Buying this annuity guarantees that you’ll lose out on big money
I wrote recently that people who buy life insurance are effectively loaning money to insurance companies at around a 2.5% interest rate, which is a great deal for the companies and a lousy investment for the policyholders. Here’s something even worse: qualified longevity annuity contracts (QLACs), which are sold by insurance companies and other financial-service […]
Stellantis could close 18 facilities under deal
United Auto Workers members attend a solidarity rally as the UAW strikes the Big Three automakers on September 15, 2023 in Detroit, Michigan. Bill Pugliano | Getty Images DETROIT — The most recent contract proposal by automaker Stellantis to the United Auto Workers union could lead to the closure of 18 U.S. facilities, but it […]
WGA strike: Negotiations resume this week
Members of the Writers Guild of America East are joined by SAG-AFTRA members as they picket at the Warner Bros. Discovery NYC office on July 13, 2023 in New York City. Michael M. Santiago | Getty Images The Writers Guild of America said Monday that the union will resume negotiations with Hollywood studios on Wednesday […]
U.S. stocks edge higher, bolstered by tech gains, as investors await Fed meeting
Stocks crept higher Monday afternoon, pushed up by gains in technology stocks, as investors awaited the outcome of this week’s Federal Reserve meeting. What’s happening The Dow Jones Industrial Average DJIA was up 5870 points, or 0.2%, at 34,678. The S&P 500 SPX rose 9 points, or 0.2%, to 4,459. The Nasdaq Composite COMP added […]
Clorox says last month’s cyberattack is still disrupting production
Colorox brand toilet bowl cleaner sits on display at a supermarket in Princeton, Ill. Daniel Acker | Bloomberg | Getty Images Clorox on Monday warned of a material financial hit from ongoing production disruptions caused by a cyberattack last month. The company, which produces its namesake bleach products and Pine-Sol, among other household items, also […]
‘Dumb Money’ thrusts GameStop into spotlight, but don’t expect meme stocks spike
The meme stock phenomenon that sent shares of GameStop Corp. skyrocketing to dizzying heights in 2021 is getting the Hollywood treatment in the new movie “Dumb Money,” which hits select theaters Friday, but don’t expect any repeat of the events of 2021, says Dan Raju, CEO of cloud-based financial services provider Tradier. “[The movie is] expected […]
UAW strikes against Detroit carmakers will happen without contracts
The United Auto Workers union will strike against the Detroit automakers if the sides don’t reach labor deals by an 11:59 p.m. ET Thursday deadline, UAW President Shawn Fain said Wednesday on CNBC’s “Squawk Box.” Fain’s comments came the morning after he outlined plans to local union leaders about implementing targeted strikes at certain General […]
Duke up, UChicago down: Here’s the 2024 college rankings list from U.S. News
U.S. News released its influential undergraduate college rankings Monday, a list that continues to inspire both fascination and derision. Despite a change in methodology partially in response to recent criticisms, the same Ivy League and highly selective institutions still dominate the top of the list, even though there’s been some significant moves among the top-14 […]
What you need to know
A nurse prepares doses of the Pfizer vaccine during a COVID-19 vaccination event at Josephine’s Southern Cooking in Chatham, Illinois, Dec. 30, 2021. Brian Cassella | Tribune News Service | Getty Images A new round of Covid vaccines is finally here in the U.S. The Centers for Disease Control and Prevention cleared single-strain shots from […]
