Money manager Douglas Gordon is worried about a potentially widespread problem in long-term investors’ portfolios. Gordon, who’s instrumental in building Russell Investments’ asset allocation strategies, believes many investors haven’t rebalanced their portfolios to reflect the historic 2019 stock market rally. According to Gordon, the market rally’s robust gains are tilting […]
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Adam Silver on talk about a career switch: ‘I couldn’t be happier’ as NBA Commissioner
NBA Commissioner Adam Silver is flattered by the reports that the NFL and Fortune 500 companies are interested in recruiting him for future leadership positions. That said, he has a message for those indulging in the speculation: He’s not going anywhere. “I love my job at the NBA,” he told […]
Apple hires an ex-Microsoft exec to revamp its smart home business, and catch up to Google, Amazon
Sam Jadallah, the former CEO of a smart lock company that shut down just over a year ago, has a new job: He’ll be leading the home initiatives at Apple, sources familiar with the matter told CNBC. Hiring Jadallah is the latest signal that Apple plans to get serious about […]
Pull out couches, travel style: Airports are helping travelers on the go get some nap time
Business travelers once looked to airline club rooms as calm oases that offer quiet areas to relax, work, conduct important phone calls or, perhaps, catch a nap. These days, it’s not unusual for airline-operated and independent lounges to be as crowded and noisy. Congested airport terminals and gates have areas […]
A big change in accounting will put $3 trillion in liabilities on corporate balance sheets
A new corporate accounting rule is about to pull an estimated $3 trillion out of the shadows. Starting this year, companies are required to record the cost of renting assets used in their operations, such as office space, equipment, planes and cars, on their balance sheets rather than bury that […]
One surprising way to beat the SALT deduction cap: Move to a nearby town
A few years ago Dawn Donaghy and her husband, Raymond, made a decision that many residents in high-tax states make. They wanted to move. The couple, then residents of Old Tappan, New Jersey, a town less than 30 miles outside of New York City, loved where they lived. But Raymond’s […]
I was spending $132 a month on digital subscriptions — here’s how I cut it back
With the news this week that Apple will soon launch video, magazine and news services, I started to wonder how much I was spending already on these kinds of subscriptions. If I really wanted to buy the new Apple bundle, could I afford it? So I went through my recent […]
Keystone XL suffers another setback as judge blocks most work on the oil pipeline
A federal judge in Montana dealt the Keystone XL pipeline another setback on Friday, effectively blocking TransCanada‘s latest effort to begin work on the project. U.S. District Court Judge Brian Morris ruled that TransCanada cannot do most work to prepare for construction, including setting up camps for workers who would […]
Former US cardinal Theodore McCarrick defrocked by Pope Francis over sexual misconduct allegations
Disgraced ex-cardinal Theodore McCarrick has been expelled from the Roman Catholic priesthood after an investigation found sex abuse allegations against him were credible, the Vatican said Saturday. The church is penalizing McCarrick, the former Archbishop of Washington, D.C., and Newark, New Jersey, with “dismissal from the clerical state,” it said […]
US will not open door to Saudi Arabia building nuclear weapons, top official says
A representative of the United States government said Saturday that it would not help Saudi Arabia develop nuclear technology without guarantees that it would only be used for civilian purposes. Saudi Arabia has put the U.S. on a shortlist with China, Russia and others to bid for nuclear power projects […]