Shares of Estee Lauder popped more than 13% Monday after the cosmetics company delivered better-than-expected results for its fiscal second quarter. More important in driving the market action, however, was CEO Fabrizio Freda’s comment that “we are, encouragingly, at an inflection point.” Revenue fell 7% year over year to $4.28 […]
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Early retiree who earned $380,000 in passive income last year: Your ‘best option’ for making money while you sleep
Sam Dogen knows a thing or two about passive income. By the time he left his investment banking day job in 2012, Dogen, the founder of Financial Samurai and the author of “Buy This, Not That,” had built up about $80,000 in annual income outside the office. Combined with a […]
Student loan crisis is just as big as climate change, Rep. Clyburn says. Here’s why
House Democratic Caucus Chairman James E. Clyburn, D-S.C., during an interview in his hideaway in the U.S. Capitol. Scott J. Ferrell | Cq-roll Call, Inc. | Getty Images WASHINGTON, D.C. — On a recent Sunday afternoon, Rep. James Clyburn, D-S.C., was attending a church service in his hometown of Sumter, […]
Oil market will face supply shortage by end of 2025, Occidental CEO says
Occidental CEO Vicki Hollub speaks at the panel dicscussion during the Abu Dhabi International Petroleum Exhibition and Conference held at ADNEC Exhibition Center on October 2, 2023. Ryan Lim | Afp | Getty Images The oil market will face a supply shortage by the end of 2025 as the world […]
Ken Griffin’s Citadel hedge fund rose 1.9% in January as volatility ramped up
Ken Griffin, CEO of Citadel, at CNBC’s Delivering Alpha on Sept. 28, 2022. Scott Mlyn | CNBC Billionaire investor Ken Griffin’s flagship hedge fund rose last month as volatility made a return amid the debate about rate cuts, according to a person familiar with the returns. Citadel’s multistrategy flagship Wellington fund […]
Mortgage rates jump back over 7% as stronger economic data rolls in
This photo taken on Aug. 22, 2023 shows an advertisement in front of a real estate for sales in Millbrae, California, the United States. The sales of previously owned homes in the United States dropped 2.2 percent in July from June to a seasonally adjusted, annualized rate of 4.07 million […]
Fed’s Kashkari backs sentiment that policymakers can take their time cutting interest rates
Neel Kashkari, president and CEO of the Federal Reserve Bank of Minneapolis, during an interview in New York on Nov. 7, 2023. Victor J. Blue | Bloomberg | Getty Images Interest rates running at their highest levels in about 23 years are not hurting the economy and could buy policymakers […]
Turkey’s new central bank governor, formerly at Amazon and New York Fed, seen as a ‘credible choice’
Newly appointed Governor of Turkish Central Bank, Fatih Karahan is seen in Ankara, Turkey on February 04, 2024. Emin Sansar | Anadolu | Getty Images Turkey’s newly appointed central bank governor, Fatih Karahan, has his work cut out for him, after being named to the job by presidential decree over […]
McDonald’s and Starbucks blame the Israel-Hamas war for slower sales — and the recovery might take a while
People dit at McDonald’s outdoor seating after going out on a Saturday night along Rothschild Street on June 11, 2022 in Tel Aviv, Israel. Alexi Rosenfeld | Getty Images McDonald’s and Starbucks, two of the biggest U.S. restaurant companies, both said the Israel-Hamas war hurt their sales at the end […]
How the Supreme Court affirmative action decision is affecting college applicants. ‘The barriers are already so high,’ one legal expert says
With competition at an all-time high and admissions practices increasingly unclear, it’s not an easy time to be a college applicant, especially for students of color. The Supreme Court‘s ruling against affirmative action was considered a massive blow to decades-old efforts to boost enrollment of minorities at American universities through policies that accounted for applicants’ race. […]