700CLUBNEWS.COM: Latest News of The Day

Latest News of The Day: Earnings, Wealth

16:59, 2019-07-19

How to avoid costly Medicare mistakes when retiring after age 65 If you're covered by qualifying health insurance at work and have delayed signing up for Medicare (or parts of it), it's important to plan ahead to avoid a coverage gap or missed deadlines....
16:34, 2019-07-19

Ohio congresswoman says lack of financial literacy could be a problem for Facebook Libra users Rep. Joyce Beatty, D-Ohio, grilled Facebook's David Marcus, asking about the steps he will take to educate the 1.7 million unbanked people Libra plans to reach....
16:34, 2019-07-19

American Express tops profit estimates on higher card spending; expenses a worry Credit card issuer American Express beat analysts' estimates for quarterly profit on Friday, as a healthy U.S. economy fueled higher spending by its customers....
14:51, 2019-07-19

Here's how women can grow their careers, according to Morning Joe's Mika Brzezinski Women need to be smart about getting their foot in the door and working their way up the ladder, says Mika Brzezinski, best-selling author and co-host of MSNBC's Morning Joe....
12:17, 2019-07-19

Retiring this year? How much you'll need for health-care costs A 65-year-old couple in good health could shell out close to $390,000 in medical expenses, according to HealthView Services. Here's why the bill is so high....
02:34, 2019-07-19

First-time homebuyers could snag lower costs for FHA loans under House-passed bill The Housing Financial Literacy Act would provide a discount on upfront mortgage insurance if the borrower goes through financial literacy counseling....
17:17, 2019-07-18

Barry lost some bite, but these 10 cities could lose billions in housing to floods by 2050 Within three decades more than 386,000 homes in U.S. coastal areas will be at risk of permanent submersion or regular flooding due to climate change, according to a study by real estate website Zillow and nonprofit weather news site Climate Central....
16:34, 2019-07-18

iQOS boosts Philip Morris International's quarterly profit, revenue Philip Morris International beat second-quarter earnings and revenue estimates while hiking its full-year forecast as its new tobacco products gain momentum....
15:34, 2019-07-18

College applications can add up to thousands of dollars. Here's how to save As college costs rise, some students apply to a laundry list of schools to increase their odds of getting into one they can afford. Yet doing so can leave families with another large tab....
19:51, 2019-07-17

Blue states file suit against IRS over rules on SALT workarounds Gov. Phil Murphy of New Jersey is suing the IRS and Treasury Secretary Steven Mnuchin, responding to new, final rules from the IRS that would largely block states' attempts to get around a $10,000 cap on state and local tax deductions....
19:51, 2019-07-17

Spend too much? Here's what is causing you to be a shopaholic Even in the absence of shopping "holidays" like Black Friday and Amazon Prime Day, designed to entice consumers to spend on items they never planned to purchase, consumers commonly succumb to pressures to make impulse buys....
16:00, 2019-07-17

Planning to travel while on Medicare? Make sure you have coverage at your destination Whether you're covered for medical services while traveling depends partly on where you're going and how you receive your Medicare benefits....
18:17, 2019-07-14

This work perk can help you build wealth — or load you up with taxes and risk Don't get too attached to those stock options and restricted stock units at work. In order to get the most benefit from them, you'll need to strategize with your financial advisor or CPA....
16:01, 2019-07-13

These pension plans are at risk of going broke. Now lawmakers need to agree on a fix Retirement benefits for more than 1 million people could be at risk if nothing is done to help save underfunded multiemployer pensions. The House of Representatives is set to consider a bill that addresses the problem....
00:34, 2019-07-13

How a Tax Loophole Is Helping Silicon Valley Workers Save Millions A little-known tax break allows some start-up employees who own company stock to avoid paying taxes on up to $10 million when they sell their shares....
17:51, 2019-07-12

Nike 'Back to the Future' sneakers expected to sell for over $50,000 at auction A rare pair of Nike "Moon Shoes" could fetch as much as $160,000 in an auction held by Sotheby's, which also features Marty McFly's famous self-tying sneakers....
14:51, 2019-07-12

Credit card mismanagement adds to millennials' financial woes Once model savers, millennials are falling into the credit card debt trap. Financial education should be embedded in education from grade school through college. Young people need to understand debt; its benefits, its traps and how best to use it....
20:51, 2019-07-11

This charitable investing strategy was an early investor in Beyond Meat One donor-advised fund gave investors access to Beyond Meat before its surprise hit of an IPO. Here's how these charitable strategies could make it easier for mass affluent investors to give....
18:00, 2019-07-11

World's best bank for wealth management 2019: Credit Suisse With a new strategy of regionalization, integration and innovation, Credit Suisse’s wealth management business has set itself apart from its peers and brought the ethos of Swiss personalized service to an international platform....
23:34, 2019-07-10

This risk could wipe out everything you own. How to prepare Think your homeowners insurance will cover your dwelling ina hurricane? You could be wrong. Here's how to prepare your house and your wallet for a disaster....
22:00, 2019-07-10

Levi Strauss profit tanks 17%, hit by a stronger dollar, and higher marketing and online expenses Levi Strauss reported a 17% drop in quarterly adjusted profit, hit by a stronger dollar, higher marketing costs, and investments in its online business....
12:51, 2019-07-10

Live in these cities if you want to save plenty of cash You should have at least six months' savings set aside in case of an emergency. And it turns out the city in which you live could determine whether or not you're able to reach that goal....
00:34, 2019-07-09

Here's how more Americans can save for retirement, according to the 'father of the 401(k)' More employers, like small businesses, need to start offering retirement savings plans to their workers, says Ted Benna, best known as the 'father of the 401(k).'...
19:34, 2019-07-08

What Americans really think the government should do to fix Social Security Social Security is in need of some changes before 2035 in order to continue to pay out benefits as promised. Americans weigh in on what they'd like to see the government do to fix that....
19:34, 2019-07-08

Here's where the presidential candidates stand on Social Security Medicare has become a buzzword so far in the 2020 race. Yet another important benefits program,Social Security, has largely been absent from the discussion. This roundup shows where the leading candidates stand....
16:17, 2019-07-06

At Column No. 500, a Look Back at Lessons Learned The purpose of this column has been to show how we can learn from those who have had financial success (or bigger flops) to improve our own financial lives....
20:00, 2019-07-05

Nearing retirement? This checklist can help make sure you're financially ready Regardless of what the next phase of your life looks like, there are some financial aspects you should consider now to help the transition go smoothly....
18:17, 2019-07-05

How Facebook's Libra could lead you to clean out your wallet Facebook's upcoming cryptocurrency Libra has some experts concerned about security issues. A possible bigger problem: out-of-control spending by consumers....
18:17, 2019-07-05

Even as Goldman Sachs and Ally Bank cut deposit rates, high-yield savings accounts still pay As the probability of a rate cut increases, banks will start to lower deposit rates offered to consumers. Goldman Sachs and Ally Financial have already done so....
14:51, 2019-07-05

Predatory lenders prey on US military members. Here's how to avoid becoming a victim Predatory lenders, who cluster around military bases, target young soldiers who are inexperienced with money. Money expert Tara Falcone shares tips on how to protect yourself....
23:34, 2019-07-03

The Secure Act may flood your 401(k) with annuities. Here's what you should know While many people may be drawn to the idea of guaranteed income in retirement, it's important to understand the pros and cons of annuities before buying one....
23:34, 2019-07-03

Here's one reason why Americans abroad want to surrender their citizenship Americans residing abroad say that tax complexities are making them rethink their U.S. citizenship, according to a survey from Greenback Expat Tax Services....
23:34, 2019-07-03

The island that was used to promote the Fyre Festival is on sale for $11.8 million Private island Saddle Back Cay was used in the promotional video for the festival, which featured supermodels including Bella Hadid and Kendall Jenner and was widely distributed on social media....
13:51, 2019-07-03

Kleinwort Hambros: Maintaining a high-touch personal service Paul Kearney, head of private banking at Kleinwort Hambros, says that there are two overriding prerequisites for success in the competitive private banking market: relevance and efficiency....
09:17, 2019-07-03

It can be hard to predict the future. Why you should save anyway A lot of young people can't easily imagine where they're headed. Here's how to make sure you're prepared for a variety of outcomes....
21:17, 2019-07-02

When an advisor has to deliver some bad news to a client We asked nine financial advisors, including eight members of the CNBC Digital Financial Advisors Council, what was the worst news they ever had to tell a client....
14:34, 2019-07-02

One-third of Americans have cut back on spending, and some fear a recession is coming A third of Americans are spending less, according to the CNBC/Acorns Invest in You Spending Survey released on Monday. The reasons they cite include fear of a job loss, high medical bills and fear of a recession....
22:00, 2019-07-01

College costs are skyrocketing. Here's how to decide if that high price tag is worth it With the student loan crisis gaining ground as a key issue in the 2020 presidential race, a new CNBC and Acorns survey has found that a majority of Americans believe the value of a college education is tied to whether they have to go into debt to pay for it....
22:00, 2019-07-01

Men spend more on impulse buys than women. Here are 6 ways to break the habit A new CNBC and Acorns survey shows that men spend more on impulse buys than women, breaking old stereotypes. Experts give tips on how to break the habit by leaving your credit card behind and being mindful of retail tricks....
22:00, 2019-07-01

DeVos cancels Obama-era rule forcing colleges to prove students could repay their student debt Education Secretary Betsy DeVos issued the final repeal of an Obama-era rule aimed at holding low-quality education programs accountable by forcing them to prove their graduates were able to repay their loans....
22:00, 2019-07-01

Cancer patients with student debt are supposed to get a break. The government isn't giving it President Trump signed a bill last year allowing people with cancer to press pause on their federal student loan payments throughout their medical treatment and then for six months afterward....
17:00, 2019-06-29

Learn money and investing basics in less time than an episode of The Office These eight personal finance education videos will teach you the basics of credit, budgeting, insurance, retirement, saving, investing and taxes in less than 20 minutes....
23:17, 2019-06-28

Democrats' student debt forgiveness proposals may resonate more in blue states Voters in blue states stand to have more student debt forgiven under Democrats' proposals than those in red states, according to an analysis by CNBC...
23:17, 2019-06-28

Social Security statements could be coming back to your mailbox The Social Security Administration may have to send annual statements via snail mail again. Advocates for the change say not enough people are accessing that information online, which can hurt their retirement....
12:51, 2019-06-28

Lennar profit beats as lower mortgage rates boost home sales Lennar reported a higher-than-expected quarterly profit on Tuesday, as the No. 2 U.S. homebuilder's sales got a boost from lower interest rates for mortgages....
23:01, 2019-06-27

FedEx CEO says US lawsuit is 'separate and distinct' from Huawei package mishaps FedEx CEO and Chairman Frederick Smith said the recent lawsuit against the Commerce Department is "separate and distinct" from the shipping incidents involving Huawei. FedEx has said those incidents were mistakes....
23:01, 2019-06-27

Financial advisory firms offer 'returnship' programs Internships for professionals, many middle-aged, who've taken a break from the labor force are becoming more popular at financial advisory firms....
19:34, 2019-06-27

Firms look to attract and retain tomorrow's financial advisors As the nation's financial advisors start to age out of the workplace, the industry is facing the fact that the number of graduates from university and college financial planning programs won't come near to replacing them....
19:34, 2019-06-27

This debt is most likely to force you to file for bankruptcy Student loans aren't the biggest reason people file for bankruptcy. Those who hit financial rock bottom most often point to medical debt as the cause....
19:34, 2019-06-27

Thousands of students sue Betsy DeVos, claiming she's denying them student debt forgiveness More than 150,000 former students of for-profit colleges filed a lawsuit against the U.S. Department of Education and Education Secretary Betsy DeVos on Tuesday, claiming the agency is depriving them of student debt relief....
19:34, 2019-06-27

Cuts to Social Security would hurt older, single women most of all The Social Security program is approaching insolvency, and the demographic to be hit hardest by any reduction in benefits will be women, who tend to earn less, claim benefits earlier and outlive men....
19:34, 2019-06-27

It's time for colleges to require mandated financial literacy courses The U.S. Financial Literacy and Education Commission "recommends that institutions of higher education require mandatory financial literacy courses." It is about time....
19:34, 2019-06-27

Bank overdraft fees could jump if consumer watchdog eases rule The nation's consumer watchdog agency is reviewing the rule that regulates how banks charge fees when their customers spend more than what is in their accounts....
19:34, 2019-06-27

Medigap changes coming next year for future 65-year-olds If you turn 65 after 2019, you no longer can purchase a policy that covers the deductible for Part B. If you reach that age before Jan. 1, however, you'll still have that option available....
19:34, 2019-06-27

Women and minorities receive less from Social Security. Politicians are looking to change that Congressional Democrats took to the Hill on Wednesday in the latest push for Social Security reform. Their mission: to help get women and minorities better financial coverage through benefits....
19:34, 2019-06-27

House passes bill that would block enforcement of new SEC investor protection rule One of the amendments attached to an appropriations bill would prohibit the Securities and Exchange Commission from implementing and enforcing its "Regulation Best Interest."...
19:34, 2019-06-27

Givling app claims to help with student debt. She spent $42,000 to win: 'It takes over your life' The Givling app has attracted a large and loyal following of borrowers hoping for relief from decades of monthly loan payments. It might be making their situations worse....
16:34, 2019-06-21

Sen. Elizabeth Warren proposes law to help same-sex couples collect tax refunds owed to them Proposed legislation from Sen. Elizabeth Warren (D-Mass.) would give gay couples who are legally married the ability to file amended tax returns and get federal refunds owed to them....
02:01, 2019-06-21

Carnival cuts 2019 profit on Cuba travel ban, higher expenses Carnival cut its profit forecast for the year on Thursday due to the Trump administration's sudden ban on cruises to Cuba and higher expenses related itinerary changes for one of its ships....
18:34, 2019-06-20

Fed holds rates steady. Here's what that means for your wallet Here's a breakdown of what Wednesday's Fed decision means for your bank account, mortgage, credit card, student loan balance and car payment....
22:34, 2019-06-19

Here are 4 tax breaks that you might get back if Congress reinstates deductions The House Ways and Means Committee has proposed a package of "tax extenders," potentially reviving deductions and credits that were unavailable for the 2018 tax season....
16:34, 2019-06-19

Here's how advisors can help clients avoid common and costly Medicare mistakes Making the wrong Medicare decision can make health care, the biggest expense in retirement, even more costly. Help clients avoid these common oversights before it's too late....
14:34, 2019-06-19

Here's how advisors can recommend a life insurance policy in their client's best interest If you're making life insurance and annuity recommendations in the Empire State, you'll soon be required to act in your client's best interest. What you should know about this new rule....
16:17, 2019-06-18

New federal tax rules create advantage for real estate investment trusts As Generation X and millennials inherit their baby boomer parents' assets amid the so-called Great Wealth Transfer, some will look to invest it in rental property to generate income....
16:17, 2019-06-18

How to outfox the robots reading your resume There are more resumes to compete against. Here's how to tailor your resume to take advantage of the algorithms that reject and choose candidates....
16:17, 2019-06-18

Rick Santelli's 5 things you need to know about investing in bonds If you want a balanced portfolio, experts say you should invest in bonds. Here are the answers to five key questions about the market, from CNBC's Rick Santelli....
16:17, 2019-06-18

Here's where Americans are vacationing this summer -- and what they're spending Just about half of Americans are hitting the road in the next three months. Where are we headed and how will we get there? For the most part, it's somewhere we can drive to....
15:51, 2019-06-16

Lessons from Dad: The best money advice CNBC anchors received from their fathers Parents have a big influence on their kids, including when it comes to money. With Father's Day just around the corner, we asked our CNBC anchors and reporters for the best money advice they received from their dads....
08:17, 2019-06-15

Here's how much Americans are spending on their kids' allowance A new survey shows that 40% of Americans are paying their kids an allowance. Here's how much they are paying and other ways you can teach your children about money....
08:17, 2019-06-15

Five reasons why your high-tax state won't let you move away Thinking of relocating to Nevada for its income tax-free environment? Chances are your home state's auditors won't let you go quietly. Here are five things that will keep you from making a clean break....
08:17, 2019-06-15

Elizabeth Warren will introduce legislation to cancel student loan debt for most borrowers Elizabeth Warren isn't waiting for the election to push forward her sweeping plan to erase the majority of the country's outstanding student debt....
22:51, 2019-06-13

Let's stop the argument that financial education doesn't work Research continues to validate financial education, leading to better decision-making, heightened confidence and increased self-efficacy. If you impugn our field, you have no understanding of what it takes to create impactful learning....
15:17, 2019-06-13

Counterintuitive? Here's why advisors may urge retirees to load up on equities Got guaranteed income? Retiring investors with pensions, Social Security or income annuities have a bit of a buffer that may allow them to invest a little more aggressively in stocks. Here's why....
21:51, 2019-06-12

Feds block SALT workarounds that high-tax states favored The feds blocked a move by blue states to craft a workaround to the Tax Cuts and Jobs Act limiting state and local tax deductions, saying receipt of a SALT credit in return for making such a contribution would constitute a quid pro quo....
21:51, 2019-06-12

Companies are trying something new with their 401(k) plans. It might get you to save more A growing number of companies automatically take money from their employees paychecks and deposit it into a retirement account — even after a worker has opted out....
21:51, 2019-06-12

Options are few for storm-ravaged homes with insufficient insurance While government programs can offer assistance following a hurricane or other major weather event, it's not guaranteed and it's not all free....
21:51, 2019-06-12

How the average American millionaire is managing their money in this market CNBC's latest Millionaire Survey finds that America's wealthy remain confident in stocks and the economy even as trade wars persist and President Trump and the Federal Reserve spar over interest rates....
16:00, 2019-06-12

Congress moves to make it easier for older workers to prove age discrimination The bill would make proving age discrimination easier, by allowing workers to prove their age was a factor in an employer's decision to discipline, fire or not hire them and not the sole reason....
01:17, 2019-06-12

Dream of spending your retirement on the beach? Here are the best towns Spending your days with your toes in the sand may sound like the perfect way to spend your retirement. Here are top beach towns for retirees from U.S. News & World Report....
21:51, 2019-06-11

5 tips for advisors to consider before the stretch IRA dies out The Secure Act might be the nail in the coffin for a strategy that allowed owners of large IRAs to pass them onto heirs. Here's what advisors can do to help clients prepare....
18:34, 2019-06-11

Turns out it's not baby boomers who have taken the most from Social Security New research from the Center for Retirement Research at Boston College finds that it was the earliest beneficiaries who received more money than they paid in to Social Security....
23:34, 2019-06-10

Rolling Stones concert goers to get schooled on lifetime income The band is back following Mick Jagger's heart surgery. The concert sponsor hopes attendees will ask how long their money will last in retirement....
16:17, 2019-06-09

An IPO could make these workers wealthy – or leave them holding nothing Not all start-ups grow up to be Facebook. For the lucky few that do, their employees might have access to a small fortune: stock options. Here's what you should know....
21:17, 2019-06-08

Savings Accounts for Disabled Americans Catch On, but Slowly Advocates say the state-based accounts, which let disabled people work and save money without risking the loss of government aid, could help millions of people....
13:34, 2019-06-07

S.E.C. Tells Brokers to Work for You, but Don’t Skip the Fine Print Consumer advocates say rule changes have weakened the standards governing one class of financial professionals while giving an unwarranted veneer of trustworthiness to another....
04:17, 2019-06-07

This company is helping pay down its employees' student debt. 'They are creating value for us' Chegg has a new program that will give its employees up to $5,000 a year to help pay off student debt. "If they borrowed money and they are creating value for us, we want to help them," says CEO Dan Rosensweig....
02:34, 2019-06-07

This tax savings strategy for massive IRAs could be on the way out A new retirement bill could make it difficult for owners of large IRAs to pass on their accounts to nonspouse heirs. Here's what you should know....
20:51, 2019-06-06

Advisors down on crypto but give cannabis stocks and passive investing a thumbs up: survey The advisor survey from the Financial Planning Association reveals advisors are upbeat about the economy, still like passive investing and are interested in cannabis-related holdings but remain skeptical about cryptocurrencies....
16:34, 2019-06-06

Morgan Stanley lets clients use donor-advised funds focused on drug discovery Morgan Stanley is teaming up with the Harrington Discovery Institute to let clients make targeted donations to help fuel the creation of new treatments for diseases....
02:34, 2019-06-05

Investing opportunities are expanding for the LGBTQ community In a reflection of the progress LGBTQ Americans have made, the range of investment products tailored to their concerns has also been growing in scope and size. However, there can be no one-size-fits-all option for this diverse demographic....
18:01, 2019-06-04

James Holzhauer of 'Jeopardy' fame likely owes $1.2 million in taxes "Jeopardy" champion and professional sports bettor James Holzhauer lost in his 33rd episode of the TV game show, which aired on Monday, finishing $58,484 short of the all-time winnings record....
22:34, 2019-06-03

This is the age when it becomes embarrassing to live with your parents There's now less stigma around living with your parents into your 20s. A new survey from TD Ameritrade finds that age 28 is when it starts to become embarrassing....
22:34, 2019-06-03

Are you covered for a flood? It's time to check any risk for summer storm damage The next six months are when the risk is greatest for major storms to develop and reach the U.S. Homeowners should evaluate their insurance coverage to make sure it's adequate....
18:51, 2019-05-31

Retirement savings rate improves when workers get help with whole financial life, study suggests A new report shows that workers who used a financial wellness benefit for five years fare better in a variety of financial areas overall than those who have not....
16:34, 2019-05-31

Tucked away in this retirement bill is a provision to ease college students' tax burdens Tucked away in the retirement bill is a provision that would lighten the tax load on Gold Star families and recipients of taxable scholarships. Here's what you should know....
16:34, 2019-05-31

Here's how to navigate NYC's new cashless subway and bus option As of Friday, May 31, some New York City subways and buses will let riders tap a contactless bank card or their mobile wallet at some turnstiles to pay fares. Here's how to do it....
16:34, 2019-05-31

Costco is looking at alternative sourcing and price hikes as tariffs loom Costco reported profit and revenue that beat Street estimates and said it would tackle the proposed round of tariffs on Chinese imports by sourcing goods from other countries and possible price increases....
12:34, 2019-05-31

Serial entrepreneur Gary Vaynerchuk reveals the investment secret that made him millions Gary Vaynerchuk, an early investor in Tumblr, Twitter and Snap, says he has made millions investing instinctively by zeroing in on brands he truly likes and understands. It's also important to be patient and have a long-term view, he says....
00:51, 2019-05-31

Dollar Tree cuts profit forecast as costs rise Dollar Tree cut its full-year profit forecast on Thursday, citing costs related to store closures and freight, sending its shares down 4% in trading before the bell....
15:17, 2019-05-30

Dollar General beats quarterly same-store sales estimates Dollar General beat analysts' estimates for quarterly same-store sales, as customers spent more on groceries, seasonal products and home goods at the discount retailer's stores....
14:00, 2019-05-30

Have your first $1,000 to invest? Don't even think about the stock market Looking for a hot stock tip to get started on growing your wealth? Have your first $1,000 to invest in the market but not sure where to put it? Here's the only answer that makes sense....
20:00, 2019-05-29

This is the Number 1 benefit new college grads seek at work — and it's not debt repayment Retirement plan matches and even student loan assistance all take a backseat to the granddaddy of workplace benefits: health insurance. Those are the findings from a survey by the American Institute of CPAs....
19:34, 2019-05-29

Four ways to get the most out of your 529 college savings plan By now, everyone's familiar with the $1.4 trillion student debt crisis. However, many parents aren't familiar with a tool that can curb borrowing....
17:34, 2019-05-29

This is four-time NBA champ John Salley's No. 1 money rule "Go for success, figure out how to do something that will make you happy while doing it, and the caveat is money comes along with it," says NBA star-turned-entrepreneur John Salley....
00:00, 2019-05-29

Botched your tax withholding in 2018? It's about to get more complicated The days of hazarding a guess at your tax withholding are over. The IRS will soon release a draft of its new Form W-4 for 2020. Employees may need to scour their tax return to accurately fill it out....
22:51, 2019-05-25

Real estate investor makes $11,875 a day in profit on Koenigsegg supercar he owned for five months When commercial real estate investor Manny Khoshbin spent $2.2 million on the fastest production car in the world, he had no idea it would very quickly also become the fastest-appreciating asset he'd ever own....
16:34, 2019-05-25

'American Ninja Warrior' host Akbar Gbajabiamila's top strategy for overcoming fear Is fear getting in your way when it comes to saving and investing? Akbar Gbajabiamila, host of NBC's "American Ninja Warrior," has some advice on how to overcome it....
01:17, 2019-05-25

It’s Almost ‘529 Day,’ and States Say Don’t Forget This College Savings Gift The number of 529 accounts has grown in the past few years. But most people still haven’t heard of the plans or know about their tax benefits, research shows....
19:34, 2019-05-24

Americas private banking debate: Internationalization is the future Wealthy clients increasingly need international products and services. The opportunities are clear for those who can stomach the regulatory hurdles of cross-border business and who can leverage their retail or investment banking connections. Technology investments are crucial, but the competitive la...
17:17, 2019-05-24

Millions of Americans are only $400 away from financial hardship. Here's why A majority of American adults say they are living comfortably, according to an annual Federal Reserve study on financial well-being of households. But nearly a third still lack savings to handle a $400 emergency expense....
00:34, 2019-05-24

Ignoring this client asset may become an advisor's nightmare With the right planning, a cash value life insurance policy can help supplement income in retirement. But if you ignore it, loss of coverage and a raft of income taxes could be around the corner for your client....
00:34, 2019-05-24

For military families living on the financial edge, money matters are complicated Personal finance can be tricky for military families dealing with frequent moves and lower income, not mention the stress of deployment to often dangerous areas. Here's what help's out there to aid troops in managing their money....
14:51, 2019-05-23

VF Corp's 2020 forecast disappoints as demand for Vans sneakers slows Apparel maker VF Corp exceeded Wall Street's quarterly sales expectations, boosted by higher demand for its Vans sneakers and outdoor wear brand North Face....
18:17, 2019-05-22

Financial advisors are more stressed out than their investor clients, study finds A recent survey found that financial advisors are more stressed out than their investor clients. Asked to evaluate stress levels in their lives, 71% of advisors said they experience moderate or high negative stress, compared to 63% of investors....
15:00, 2019-05-22

Before Deciding on a College, Look Closely at the Financial Aid Letter Schools are not required to use the same terminology in their offers. And an “award” could mean a grant — or a loan. “Celebrate,” one expert says. “Then, decide.”...
23:00, 2019-05-21

‘Medicare for All’ Is Hammering Health Care Stocks. For Now. The popularity of proposals for a government-run, single-payer system among Democratic presidential candidates has hurt health care stocks, despite their strong earnings....
23:00, 2019-05-21

4 Tax Strategies That Could Make a Divorce Settlement Easier Divorce negotiations are never easy, and they became more complicated this year, thanks to the tax overhaul. Here are four tips for taxpayers to consider....
23:00, 2019-05-21

Notre-Dame Donation Backlash Raises Debate: What’s Worthy of Philanthropy? Philanthropic experts said they were not shocked by what seemed like an ungrateful response to the money raised to restore the cathedral, but few agreed on a solution....
23:00, 2019-05-21

Investing for Social Impact Is Complicated. Here Are 4 Ways to Simplify It. Many organizations measure the effect of investments meant to spur positive change, but the metrics they use, and their results, vary. Several are trying to make it easier....
23:00, 2019-05-21

A Quirk of the Calendar Is Messing With Stocks Erasing the 2007-2009 bear market from 10-year stock returns has made ‘long-term’ performance look stellar, even though recent returns are unexceptional....
23:00, 2019-05-21

Trash, the Library and a Worn, Brown Table: The 2019 College Essays on Money Each year, we ask high school seniors to submit college application essays they’ve written about work, money, social class and related topics. Here are five that moved us....
23:00, 2019-05-21

How Loopholes Help Trump and Other Real Estate Moguls Avoid Taxes The ability to deduct business losses against income tax is common. But there are myriad other benefits, all legal, created specifically for commercial real estate....
23:00, 2019-05-21

Beware of Credit ‘Repair’ Companies, Consumer Watchdogs Say Anything these companies can do, people can do for themselves at no cost. Federal regulators recently filed suit against two of the biggest companies....
23:00, 2019-05-21

Interest Rates on New Federal Student Loans Will Dip Slightly The rates, which will take effect on July 1, won’t make a big difference in monthly payments. But given the cost of college, one expert says, “this is a bit of good news.”...
23:00, 2019-05-21

Global private banking debate: Trust, scale and security key factors in a digital world Meeting the needs of high net-worth families is more challenging and fascinating than ever. Private banks are investing in new forms of digital communication, catering to clients’ philanthropic demands, boosting fee transparency and finding ways to attract and retain the best young talent....
21:17, 2019-05-21

Societe Generale Private Banking (SGPB): Embracing phygitalization Over the last five decades, Societe Generale has been synonymous with innovation, says Jean-François Mazaud, Head of the group’s private banking unit (SGPB)....
21:17, 2019-05-21

Asia private banking debate: Great opportunities in Asia Asia offers a unique client set of young entrepreneurs; it also offers the challenge of new generations inheriting wealth with different expectations from their predecessors. That is a great opportunity, but it requires private banks to be nimble, thoughtful and technologically adept....
21:17, 2019-05-21

Societe Generale Wealth & Asset Management activities: Setting new standards in SRI and ESG "Our primary mission is to protect our clients’ wealth. How they can as well invest in a positive and sustainable way is more and more at the centre of our dialogue with them.”...
21:17, 2019-05-21

India’s wealth managers find profit in the provinces The face of wealth management in India is changing, as vast fortunes are made by young digital disruptors and as private banks venture out of the main commercial hubs in search of untapped profit and potential in second-tier cities....
21:17, 2019-05-21

50 Years of Private Banking - A Special Report Euromoney Magazine has charted the birth, growth and maturity of the global private banking industry over 50 years. This special report is the distilled essence of five decades of innovation and change. We look at how private banking has evolved, and what the future holds for an industry that has ne...
21:17, 2019-05-21

Private banking across the decades Euromoney’s coverage of private banking since our launch in 1969 reflects the changes in the industry itself. The first 30 years were dominated by Swiss banks – and trying to get into their inner sanctums. The last two decades have seen the evolution of wealth management into a truly global business...
21:17, 2019-05-21

Private banking: Who stays in Asia, wins in Asia For many private banks that set up in Asia in the last decade, the cost of doing business kept them locked out of the vast expansion of wealth in the region; those that didn’t leave are settling into a more mature industry, but they are a long way from being able to relax....
21:17, 2019-05-21

Private banking architects: Jürg Zeltner – the pioneer of the CIO Jürg Zeltner, former chief executive of UBS Wealth Management, explains how the chief investment office was born out of chaos. Its introduction shifted not just UBS but the whole private banking industry to a model of professionalism....
21:17, 2019-05-21

From private bank client to farmer: a Chinese model of social lending Financial services group CreditEase runs an app through which its private banking clients can be connected to needy women farmers in China’s rural interior. It’s a remarkable initiative taken up by 200,000 farmers and shows what can be done with low-level credit. But how does the risk management wor...
21:17, 2019-05-21

Private banking architects: Mark Branson – the man who cleaned up private banking Mark Branson, chief executive officer of Swiss financial regulator Finma, talks to Euromoney about how tax transparency has changed the trajectory of private banking and how far regulation can go in curtailing misconduct....
21:17, 2019-05-21

Private banking architects: Mary Callahan Erdoes – broadening clients’ investment horizons Mary Callahan Erdoes of JPMorgan speaks to Euromoney about being the port in the storm during the financial crisis and opening up the private wealth market to the whole investment industry....
21:17, 2019-05-21

Private banking architects: Tan Su Shan – leading the charge for Asia’s wealthy Tan Su Shan has led DBS’s efforts to become the leading home-grown bank for wealth management in Asia, during a decade in which the number of billionaires in the region has soared....
21:17, 2019-05-21

Private Banking and Wealth Management Survey 2019: Results Index More than 2,000 private bankers took part in the 2019 Euromoney private banking survey. See who’s up and who’s down globally, regionally and by country....
21:17, 2019-05-21

Women in private banking: Why we need a new normal Wealth management was built by men for men, but now that women will become the largest beneficiaries of the $30 trillion intergenerational wealth transfer, the industry needs to overhaul itself. If it doesn’t, it will be letting down more than just its female clients....
21:17, 2019-05-21

Private banking: Wealthtech 2.0 – when human meets robot If there was ever a risk of client advisers being replaced by robots, that danger has now passed. Today both robo-advisers and large wealth managers see the importance of having humans and technology work together....
21:17, 2019-05-21

Wealth management: The Next Generation The last 20 years of private banking have been all about building scale, international growth and professionalization; the top wealth managers are still getting bigger and are confident they have the right model – but as they struggle to maintain quality of service under pressure on revenues, new sp...
21:17, 2019-05-21

Private Banking Awards Dinner 2019 Euromoney’s Private Banking Awards are the most prestigious in the growing area of wealth management. They cover over 60 countries each year, as well as global and regional awards....
21:17, 2019-05-21

Private banking: Wealth becomes exciting again in Brazil After so long, private bank clients and even retail investors are no longer happy with the returns from government bonds; instead, they are searching for yield and pushing up the value of risk assets....
21:17, 2019-05-21

Why private capital will dominate markets for the decades to come Big pools of private capital, led by sovereign wealth funds, private equity sponsors and family offices, now dominate capital formation in the key growth industry sectors of technology and biotech and the expanding markets of Asia. New tech will let networks of private investors connect and exchange...
21:17, 2019-05-21

CITIC Bank Private Bank: Success = Technology + Human Touch CITIC Private Bank is leading Chinese private wealth managers in the adaptation of technology, but it is not forgetting the most important element of customer service and the notion that each App Must Have the Warmth of the Human Touch!...
21:17, 2019-05-21

Societe Generale Private Banking: Building a pan-European footprint Societe Generale has had a presence in Luxembourg since 1893, making it the oldest foreign bank in the Grand Duchy. As well as being one of the market leaders, Societe Generale is now the fifth largest employer in Luxembourg’s thriving and business-oriented financial services industry....
21:17, 2019-05-21

Wealth Matters: Investing for Social Impact Is Complicated. Here Are 4 Ways to Simplify It. Many organizations measure the effect of investments meant to spur positive change, but the metrics they use, and their results, vary. Several are trying to make it easier....
19:51, 2019-05-21

Your Money Adviser: Before Deciding on a College, Look Closely at the Financial Aid Letter Schools are not required to use the same terminology in their offers. And an “award” could mean a grant — or a loan. “Celebrate,” one expert says. “Then, decide.”...
18:00, 2019-05-21

Strategies: ‘Medicare for All’ Is Hammering Health Care Stocks. For Now. The popularity of proposals for a government-run, single-payer system among Democratic presidential candidates has hurt health care stocks, despite their strong earnings....
18:00, 2019-05-21

Wealth Matters: 4 Tax Strategies That Could Make a Divorce Settlement Easier Divorce negotiations are never easy, and they became more complicated this year, thanks to the tax overhaul. Here are four tips for taxpayers to consider....
18:00, 2019-05-21

Wealth Matters: Notre-Dame Donation Backlash Raises Debate: What’s Worthy of Philanthropy? Philanthropic experts said they were not shocked by what seemed like an ungrateful response to the money raised to restore the cathedral, but few agreed on a solution....
18:00, 2019-05-21

Strategies: A Quirk of the Calendar Is Messing With Stocks Erasing the 2007-2009 bear market from 10-year stock returns has made ‘long-term’ performance look stellar, even though recent returns are unexceptional....
18:00, 2019-05-21

Your Money: Trash, the Library and a Worn, Brown Table: The 2019 College Essays on Money Each year, we ask high school seniors to submit college application essays they’ve written about work, money, social class and related topics. Here are five that moved us....
18:00, 2019-05-21

Wealth Matters: How Loopholes Help Trump and Other Real Estate Moguls Avoid Taxes The ability to deduct business losses against income tax is common. But there are myriad other benefits, all legal, created specifically for commercial real estate....
18:00, 2019-05-21

Your Money Adviser: Beware of Credit ‘Repair’ Companies, Consumer Watchdogs Say Anything these companies can do, people can do for themselves at no cost. Federal regulators recently filed suit against two of the biggest companies....
18:00, 2019-05-21

Baby T-Rex fossil listed for sale on eBay for $3 million The eBay listing, last updated on Tuesday, claims the artifact is "most likely the only baby T-rex in the world," adding that the specimen has a 15-foot-long body, 21-inch skull and serrated teeth....
16:34, 2019-05-21

America's wealthy investors say Fed-induced stock rally has plenty of life left — maybe years Millionaire investors began 2019 worried about the market, but as the Fed's about-face on interest rates takes hold as the new normal in monetary policy and stocks surge, an E-Trade survey finds that the wealthy expect the rally to continue....
16:34, 2019-05-21

Talking money with Suzy Welch: 'You don't have to be an expert to get into the market' Investing is a great way to grow your money, but the fear of not knowing enough about the market and losing money tends to scare people off. But life management expert Suzy Welch says you don't need to be an expert to win big....
16:34, 2019-05-21

Melinda Gates: Capitalism needs work, but it beats socialism and the US is 'lucky' to have it Melinda Gates, in an interview with CNBC's Becky Quick, says people living in developing countries "want to live in these types of capitalistic societies."...
16:34, 2019-05-21

FBI and US attorney question JetSmarter customers Customers of JetSmarter say they have been questioned about the private jet company's business practices and communications. The scope and nature of the inquiries are unclear....
16:34, 2019-05-21

It's not just Warren Buffett who's bullish on post-Brexit Britain A majority of wealthy U.K.-based investors see an economic upside for the U.K. despite uncertainty surrounding its withdrawal from the EU, according to a new quarterly survey by UBS....
16:34, 2019-05-21

Big win for Robert Kraft: Judge bars massage parlor video from use at prostitution solicitation trial The videos are the key — and potentially only — pieces of evidence that prosecutors have against Kraft to sustain their charges of soliciting prostitution....
16:34, 2019-05-21

Gay pilots? Muslim quarterbacks? There's a financial advisor focusing in on every niche customer Only 15 percent of financial advisors specialize in niche clients but they account for a third of advisor assets. A look at five niche practice areas....
16:34, 2019-05-21

Metropolitan Museum of Art says it will no longer accept gifts from Sackler family The moves comes after other leading cultural institutions, including the Guggenheim in New York and the Tate in London, said they would cut ties with the family....
16:34, 2019-05-21

Advisors need to know the pros and cons of annuities Annuities are a long-term play for both the client and the advisor. Think about these key considerations when you recommend a fixed, variable or indexed annuity to an investor....
15:17, 2019-05-21

Here's why Sens. Schumer and Sanders are wrong on stock buybacks Two U.S. senators criticized $4 trillion in share buybacks from 2008 to 2017. It is important to understand this cash did not vaporize, nor did it benefit just a handful of people. Rather, it was used to positively impact the U.S. economy overall....
15:17, 2019-05-21

Living with your parents to save money might dim your chances of becoming a homeowner Young adults who lived with their parents between the ages of 25 and 34 were actually less likely to become homeowners after 10 years than those who didn't....
15:17, 2019-05-21

3 steps to determine whether you've earned the right to invest You'll have to tidy up your finances before you can start investing, says Douglas A. Boneparth, president of Bone Fide Wealth in New York. Where to begin....
15:17, 2019-05-21

The government, the biggest cause of the student loan crisis in the US, needs to fix this problem Governments need to find the resources to help families make smarter financial decisions about college during children's high school years. That way, young people will enjoy a great education with less debt and better financial outcomes....
15:17, 2019-05-21

The wealthiest investors are ramping up on this asset Even if you're a millionaire, cash is king. Investors in TIGER 21, a group of individuals with at least $10 million to invest, stepped up their allocation toward cash during the first three months of 2019....
15:17, 2019-05-21

Consumer watchdog sues law firm that filed 99,000 debt-collection suits The Consumer Financial Protection Bureau's complaint against a New York debt-collection law firm alleges that its attorneys signed off on tens of thousands of lawsuits against consumers without vetting the facts....
15:17, 2019-05-21

Millennials need to get off the sidelines and start investing now Despite the many benefits of investing early and often, too many millennials sit on the sidelines because they worry about the risk of a repeat of the Great Recession of 2008....
15:17, 2019-05-21

Want to invest like Warren Buffett? Here are the ins and outs of buying preferred stock Warren Buffett's latest deal involves the preferred stock of Occidental Petroleum. Here's what that means and when it could be a good option for you....
15:17, 2019-05-21

Billionaire to graduating college students: My family is going to eliminate your student loans Robert Smith announced that he and his family would set up a grant to pay off the nearly 400 graduating seniors' student loans. The total gift is estimated at $40 million....
15:17, 2019-05-21

Advisors create a game plan to prepare clients for this retirement expense With premiums skyrocketing on insurance policies designed to cover long-term-care costs, financial advisors are turning to a variety of other options....
15:17, 2019-05-21

Black households try to close wealth gap by chasing higher returns Black investors are trying to close the wealth gap and feather their retirement nests should avoid taking on too much risk to speed their savings rate. Professional advice can help....
15:17, 2019-05-21

Here's what to do if the US-China trade war ignites layoffs The trade war with China and rising pressure on manufacturers and retailers are bringing a new worry: layoffs. Here's how to manage if you lose your job....
15:17, 2019-05-21

You can use Jack Bogle's investing strategy and keep a socially responsible focus The traditional S&P 500 index fund may not work for you if you want to invest with environmental or social causes in mind. But themed index funds might be worth a second look....
15:17, 2019-05-21

AIG shares jump as profit beats on strong underwriting and lower costs Insurer AIG reported first-quarter earnings that trounced Wall Street estimates, as its general insurance business posted its first underwriting profit since the financial crisis....
15:01, 2019-05-21

Pioneer Natural profit beats, takes 'Permian pure play' tag with asset sale Pioneer Natural Resources beat Wall Street estimates for quarterly profit, and said it sold its Eagle Ford and remaining assets in South Texas to become a pure-play Permian basin producer....
15:01, 2019-05-21

Lyft has been a train wreck of a stock. Now it's about to report its first big earnings loss Lyft shares are down 30% since its trade debut, and now the rideshare firm is preparing for another first: earnings as a public company. While its path to profits is still a long one, it will need to show investors revenue growth and cost-cutting....
15:01, 2019-05-21

Mallinckrodt stock swings up 16%, then down, after drugmaker raises 2019 profit outlook Mallinckrodt Pharmaceuticals rose as much as 16.4% but opened lower after first-quarter earnings beat projections and the company raised its guidance....
15:01, 2019-05-21

Mylan quarterly revenue misses estimates, shares fall Drugmaker Mylan missed Wall Street estimates for quarterly revenue, hurt by restructuring at its Morgantown plant in West Virginia and a stronger dollar,....
15:01, 2019-05-21

Papa John's swings to a loss as fallout from spat with founder weighs on profits Papa John's reported first-quarter net loss of $3.80 million, or 12 cents per share, down from a net income of $17.4 million, or 52 cents per share, a year earlier....
15:01, 2019-05-21

Honda forecasts 6% rise in annual profit on Europe factory revamp Honda Motor forecast a 6% increase in operating profit for the current fiscal year due to cost reduction efforts and a restructuring of its production network in Europe....
15:01, 2019-05-21

Toyota operating profit growth to drop this year on revenue slip Toyota Motor forecast lower growth in operating profit for the current year on an expected drop in revenue and weaker vehicle sales in Japan and North America....
15:01, 2019-05-21

Sprint loses more phone subscribers than feared in the fourth quarter Wireless carrier Sprint on Tuesday reported greater-than-feared losses in phone subscribers who pay a monthly bill, as the company struggled to keep customers from going to larger rivals....
15:01, 2019-05-21

Symantec CEO Greg Clark steps down, stock drops Shares of security company Symantec fell Thursday after the company said its CEO, Greg Clark, has stepped down. The company is looking for a replacement....
15:01, 2019-05-21

Tencent Music charges for more content as paying users drive profit beat China's Tencent Music Entertainment Group said it had started charging for more of its content in the first quarter as the popularity of its pay-for-streaming services helped drive up profit....
15:01, 2019-05-21

Deere blames escalating trade war for worsening outlook An escalating trade war between the U.S. and China threatens to hit U.S. exports of key commodities, hurting farm incomes and demand for Deere's equipment....
15:01, 2019-05-21

Lumentum says it's halting all Huawei shipments; cuts its quarterly forecast Mobile phone parts producer Lumentum on Monday was the first U.S. company to confirm formally it was halting shipments to Huawei, following export restrictions put in place by the U.S....
15:01, 2019-05-21