Weekly jobless claims fall more than expected
The number of Americans filing applications for jobless benefits unexpectedly fell last week, pointing to sustained labor market strength that should continue to underpin the economy. Initial claims for state unemployment benefits decreased 3,000 to a seasonally adjusted 213,000 for...
Shutdown is starting to hurt Trump’s financial deregulation agenda
The U.S. government shutdown over President Donald Trump’s call for Congress to fund a wall he promised to build on the U.S.- Mexican border is threatening another campaign pledge to make rules easier to navigate for banks and corporations. The...
Fed’s Kashkari says big banks are safer now than before the financial crisis
Neel Kashkari, president of the Federal Reserve Bank of Minneapolis and a critic of big banks, on Wednesday said the biggest U.S. banks are “unquestionably” safer than they were before the 2007-2009 financial crisis. The Fed’s ability to use monetary...
Why Jack Bogle mattered so much to the investing world
It was in the early 1990s, after three or four years as a correspondent at CNBC, that it became obvious to me: The vast majority of active managers rarely beat their benchmarks. Sure, there was Bill Miller (Legg Mason Value)...
The mortgage industry isn’t ready for a foreclosure crisis created by climate change
A foreclosure crisis spurred by climate change is becoming a real threat to the mortgage industry as extreme storms and other natural disasters increasingly occur in places where borrowers might not have flood or fire insurance. The industry is not...
Chinese unemployment worries are growing as Beijing beefs up stimulus
Beijing is working hard to stop a slowing Chinese economy from hitting its workforce. In the last several weeks authorities have made a flurry of announcements, including tax cuts, monetary policy loosening and plans to support public spending. The push...
US import prices fall; year-on-year drop largest since 2016
U.S. import prices fell for a second straight month in December as the cost of petroleum products tumbled and a strong dollar curbed prices of other goods, leading to the largest annual drop in more than two years. The report...
Goldman Sachs shares surge after fourth-quarter profit tops expectations
Goldman Sachs shares advanced after posting fourth-quarter profit and revenue that exceeded analysts’ expectations on strength in the firm’s investment banking and investing and lending divisions. The New York-based bank generated $6.04 per share in profit for the fourth quarter...
Snap CFO resigning, company says it will come in near top end of guidance for Q4
Snap chief financial officer Tim Stone is resigning to pursue other opportunities, the company said in a new filing Tuesday that sent the stock tumbling more than 8 percent after hours. Stone’s reign lasted less than a year: he joined...
Economist Ed Lazear: The stock market is the best economic indicator and it’s signaling caution
Federal Reserve Chairman Jerome Powell should be paying close attention to the stock market for clues on whether signs of an economic slowdown warrant a pause in central bank interest rate hikes, economist Ed Lazear told CNBC on Tuesday. “Given...
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