Goldman Sachs CEO David Solomon told CNBC on Thursday that starting this year, his investment bank wouldn’t help companies go public without at least one “diverse” board member. “Starting on July 1st in the U.S. and Europe, we’re not going to take a company public unless there’s at least one diverse board candidate, with a
0 Comments
katleho Seisa Lawmakers have diluted a retirement tax break popular among wealthy Americans, leading many to consider a strategy known as a Roth conversion for individual retirement accounts to try softening the blow. A Roth conversion involves the owner of a traditional IRA, which is funded with pretax contributions, moving that money into an after-tax
0 Comments
Cruise Origin driverless shuttle Cruise The future of the auto industry isn’t horsepower or style when it comes to autonomous vehicles and ride-hailing services. It’s a box. The most recent proof of this came Tuesday night with Cruise, a majority-owned subsidiary of General Motors, debuting its first vehicle specifically designed to operate without a driver.
0 Comments
Seth Klarman Getty Images Billionaire hedge fund manager Seth Klarman defended value investing, saying in a letter to clients that several factors, including the proliferation of passive investing, have created market mispricings that will soon lead to a payoff for the long underperforming strategy. Klarman, the CEO of the Baupost Group, said his fund posted
0 Comments
Ground operations employees load baggage onto a Southwest Airlines Boeing 737 aircraft on the tarmac at John Wayne Airport (SNA) in Santa Ana, California. Patrick T. Fallon | Bloomberg | Getty Images Southwest Airlines‘ fourth-quarter profit tumbled more than 21% after the grounding of the Boeing 737 Max drove up the Dallas-based carrier’s costs, it said
0 Comments
Brian Roberts, chairman and chief executive officer of Comcast Corp. Patrick T. Fallon | Bloomberg | Getty Images Comcast on Thursday reported fourth-quarter earnings that exceeded estimates for the top and bottom lines. Shares of Comcast were up as much as 2.1% in pre-market trading. Here are the key numbers: Earnings per share: 79 cents vs.
0 Comments
A new study from the University of Pennsylvania’s Wharton School finds that Sen. Bernie Sanders’ proposed wealth tax on the richest Americans will generate $1 trillion to $1.5 trillion less than what the campaign claims. The results, if accurate, could undercut the critical funding needed to support his plans to develop public health care, education
0 Comments
India’s troubled shadow banking sector is not out of the woods yet, but it may be in a “much better position” than before, said the chairman of the country’s largest public lender. Rajnish Kumar, chairman of the State Bank of India, acknowledged that India’s non-bank financial companies (NBFCs) ’ often referred to as shadow lenders
0 Comments
“Shark Tank” investor and Dallas Mavericks owner Mark Cuban is still a big Netflix bull after its weak guidance and subscriber miss. “I haven’t sold any shares and I’m still very bullish on it,” Cuban said Wednesday on CNBC’s “Fast Money Halftime Report.” “They always offer weak guidance and it’s always been the discussion the
0 Comments
Former Vice President Joe Biden (L) greets Sen. Bernie Sanders (I-VT) before the Democratic presidential primary debate at Drake University on January 14, 2020 in Des Moines, Iowa. Scott Olson | Getty Images Top Democratic presidential candidates all want to boost Social Security benefits. But two of the candidates ’ Sen. Bernie Sanders (I-Vt.) and
0 Comments
A man wears a mask while walking in the street on January 22, 2020 in Wuhan, Hubei province, China. Getty Images Government officials in Wuhan, China are suspending all public transportation, including buses, trains, airplanes and ferries, to better combat the coronavirus outbreak, Reuters reported Wednesday, citing Chinese state media. Officials are also asking citizens
0 Comments
IBM stock moved as much as 5% higher on Tuesday after the company reported fourth-quarter results that beat analysts’ estimates and forecast earnings growth in 2020. Here’s how the company did: Earnings: Excluding certain items, $4.71 per share, vs. $4.69 per share as expected by analysts, according to Refinitiv. Revenue: $21.77 billion, vs. $21.64 billion
0 Comments