You want to support the U.S. economy, so you look for a “Made in the USA” label when you go shopping. Yet, federal regulators say some of those labels were deceptively used to boost business. A Federal Trade Commission (FTC), complaint said labels issued by an Ohio company, Made in the USA Brand, LLC, had “significant imported content.” …
New York City is filled with anecdotal stories about rich people moving to Florida for lower taxes. A columnist in the New York Post wrote this year that, “One friend says 10 wealthy people have told him they are leaving and another says disgusted New Yorkers bought $1 billion in residential property in Florida.” Former Mayor Michael …
Facebook’s reliance on traditional Web advertising is a thing of the past. Two years removed from its controversial initial public offering, the social network has rapidly become the second-biggest recipient of mobile ad dollars, behind Google. Those tiny smartphone promotions now account for over half of sales. Even with Facebook capturing headlines in 2014 for its massive …
Many young adults in their 20s and early 30s could teach their parents a thing or two about money. It turns out millennials—who range between 19 and 34 years old—are pretty smart about saving money. The Great Recession taught them a vital lesson: Save now in order to survive potentially catastrophic economic and financial challenges …
Consumers’ IRA contributions have hit record levels—but are the extra funds enough to save for retirement? Account-holders contributed an average $4,150 during tax year 2013, an all-time high, according to a new report from Fidelity Investments. That tally represents a 5.7 percent increase from 2012. (See chart below for a breakdown of average contributions by age.) Read …
Technology led market gains on Wednesday as the S&P tech sector hit its highest level since November 2000 and the Nasdaq 100, another indicator of industry growth, reached a 14-year high. The S&P tech sector is the only division of the index that traded at a 52-week high on Wednesday morning. Companies leading gains at 52-week highs included Qualcomm, Hewlett-Packard, EMC …
After sinking as Bill Ackman promised CNBC viewers he would deal a “death blow” to the company, Herbalife shares surged during his actual presentation. And that may have cost the head of Pershing Square Capital Management up to $70 million in paper losses on Herbalife options alone. Ackman’s position in Herbalife is often referred to as a short position, …
Gold prices rose again last week on news of the downing of Malaysia Air Flight MH17, the latest in a series of geopolitical shocks that have sent the price of the precious metal up this year. The price of gold rose 4 percent in the year preceding July 17. On news that the airliner had …
This story is developing. Please check back for further updates. A domestic TransAsia Airways plane crashed on landing on an island off the west coast of tyhoon-hit Taiwan on Wednesday, killing 47 people, the Civil Aeronautics Administration said. “It’s chaotic on the scene,” Jean Shen, director of the Civil Aeronautics Administration, told Reuters. Eleven injured …
Mortgage rates didn’t move at all last week, but more borrowers made applications to refinance their home loans. A weekly measure of loan volume by the Mortgage Bankers Association showed a 2.4 percent gain in total applications week-to-week, with a 4 percent jump in refinances leading the charge. Read More Higher mortgage rates not deterring buyers …
Tonight: Does Apple have a major product in its pipeline that could wow investors and consumers?
Tonight on Nightly Business Report, does Apple have a major product in its pipeline that could wow investors and consumers? And, what the conflicting legal rulings on the new health law could mean for millions of Americans.
The number of homes listed for sale nationally is finally beginning to rise, but ask anyone looking to buy a home and the majority will complain there is nothing out there. Neighborhood to neighborhood, market to market, supply still seems tight, despite a 6.5 percent increase in listings from a year ago, according to the National …
Michael Kors stock has had a fabulous run, but investors’ opinions about whether its shares are about to go out of fashion may hinge on two questions: Has the brand maxed out its U.S. potential? And how much of a boost can it get from expanding in Europe? There is no doubt that the pace of …
