WASHINGTON (Reuters) – The U.S. Federal Reserve cut interest rates again on Wednesday to help sustain a record-long economic expansion but signaled a higher bar to further reductions in borrowing costs, eliciting a fast and sharp rebuke from President Donald Trump. Describing the U.S. economic outlook as “favorable,” Fed Chair Jerome Powell said the rate
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CBS and WarnerMedia have said they will no longer run advertisements for e-cigarettes on their networks following an outbreak of illnesses and deaths linked to vaping. A CBS spokesperson confirmed with USA TODAY it will not take any e-cigarette advertising on the network moving forward. In a statement to CNBC, WarnerMedia said it’s dropping e-cigarette ads from
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The Trump administration moved Wednesday to rescind a waiver allowing California to set its own standards for car emissions. Critics understandably called foul. But emissions activists should keep in mind that improvement in fuel efficiency makes a bigger difference at the most inefficient end of the scale. Without offering details, President Donald Trump tweeted his announcement
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BELLFLOWER, Calif. – Architecture, urbanism and landscape-design firm, Studio One Eleven recently completed an innovative commercial real estate project, transforming discarded shipping containers into a robust al-fresco food hall in downtown Bellflower, California. Bellflower is considered a “first-ring” suburb of Los Angeles, and early findings indicate that the project has spurred revitalization efforts in the area. SteelCraft
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Berkshire Hathaway‘s executive Tracy Britt Cool is leaving the firm after a decade to start a company that replicates Warren Buffett’s business model. Cool, who joined Berkshire in 2009 as Buffett’s financial assistant, said she’s building an investment vehicle that acquires companies “too small for Berkshire,” The Wall Street Journal reported. CNBC confirmed Cool’s move.
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WASHINGTON (Reuters) – JPMorgan Chase & Co (JPM.N) Chief Executive Jamie Dimon credited the U.S. Federal Reserve on Wednesday with doing the “right thing” in supporting the overnight funding needs of banks after borrowing costs suddenly spiked on Monday. The Fed, for the first time since the 2007-2009 financial crisis, injected more than $125 billion
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Social Security may be one of your largest assets. What and when you collect will make a huge difference to your lifetime benefits. Today’s column addresses denial of a restricted application for spousal benefits only, whether benefits for an ex impact a decision to remarry, the possibility of voluntarily ending disability, reinstating retirement benefits at
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LONDON (Reuters) – Britain will investigate the national security impact of the purchase of defense company Cobham by U.S. private equity firm Advent International, potentially delaying or even blocking the $5 billion deal. Business minister Andrea Leadsom’s move on Wednesday is not unusual where there are potential security concerns and follows British government intervention in
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Walmart and Capital One are teaming up to make shopping at the retail giant more “rewarding.” On Wednesday, the companies announced the Sept. 24 launch of the Capital One Walmart Rewards Credit Card Program with two new cards offering up to 5% back on Walmart purchases. The program’s Mastercard will be accepted everywhere and the private-label
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BUENOS AIRES/BEIJING (Reuters) – Cattle ranchers in Argentina, which recently edged out neighbor Brazil as the top exporter of beef to China, are hoping to build on that status by getting more local meatpacking plants approved by Beijing, industry officials and other sources told Reuters. An Argentine industry group is currently in China looking to
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TransferWise co-founders Taavet Hinrikus and Kristo Kaarmann. Financial technology firm TransferWise booked a profit for the third year in a row, a rare show of growth for an industry littered with start-ups that have struggled to break even. The London-based company said on Wednesday that its net profit after tax climbed to £10.3 million ($12.8
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Large banking institutions face the risk of failure if interest rates in Europe continue to stay negative, an economist told CNBC after the European Central Bank cut rates last week. “I think there are big questions to banking sector profitability,” global chief economist of the Economist Intelligence Unit, Simon Baptist, said Friday. The ECB on
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Late last July Jason Zweig and Andrea Fuller reported on the front page of The Wall Street Journal how CFP Board has failed at monitoring certificant listings at their LetsMakeAPlan.Org consumer referral website. Zweig and Fuller found certificants whose disclosure histories appeared clean on CFP Board’s site to have, among other causes for criminal felony
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The S&P 500 is currently flirting with July 2019 highs following a move up from August lows that has been partially driven by a strong upward thrust from value and cyclical stocks. Many of these stocks have lagged over the last several years as large-cap growth stocks dominated the U.S. equity market. Investors may take
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The largest companies on Wall Street could be in position to lead the stock market to new heights, CNBC’s Jim Cramer said Tuesday. Citing technical analysis from stock analyst Dan Fitzpatrick, the “Mad Money” host said Microsoft and Apple can provide some much-needed long-term influence on the S&P 500 and Dow Jones Industrial Average. The
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WASHINGTON (Reuters) – The U.S. House Transportation and Infrastructure Committee on Tuesday formally asked Boeing (BA.N) chief executive Dennis Muilenburg to testify on the now grounded 737 MAX that has been involved in two deadly crashes since October 2018 that killed 346 people. The panel’s chair, Representative Peter DeFazio, also asked John Hamilton, the chief
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