In the 19th century, a few pioneering entrepreneurs set out to make a tropical fruit the most popular in the U.S. They succeeded, and the banana is still Americans’ favorite fruit. In the last decade, the U.S. imported an average of $2.2 billion worth of bananas each year, largely from Central and South America. Most
It’s a good time to be a graduate. Those armed with a newly minted diploma will enter a job market with unemployment near the lowest level in 50 years and job prospects up significantly from just last year. Employers plan to hire nearly 11% more graduates from the class of 2019 than they did from
A Brooklyn judge on Thursday ruled against a group of parents who challenged New York City’s recently imposed mandatory measles vaccination order, rejecting their arguments that the city’s public health authority exceeded its authority. In a six-page decision rendered hours after a hearing on the matter, Judge Lawrence Knipel denied the parents’ petition seeking to
Japan’s core inflation picked up slightly in March from a year earlier, but remained distant from the Bank of Japan’s ambitious 2% target in a sign of rising pressure on the central bank. Over the past year, policymakers have had to contend with a slowdown in global demand as the Sino-U.S. tariff war put a
CNBC’s Jim Cramer on Thursday said the banking sector reported positive earnings results over the past week and that the stocks remarkably were able to rally on the news. “The big takeaway from the major banks is that the group is doing better than we thought and even after this latest leg higher, many of
Check out the companies making headlines after the bell: Shares of Intuitive Surgical plummeted more than 6 percent in extended trading Thursday following the release of the company’s disappointing first-quarter earnings. Intuitive Surgical posted earnings per share of $2.61, missing Refinitiv estimates of $2.70. Revenue was in line with estimates at $974 million. Pinterest shares
Elon Musk and the SEC have asked for a one-week delay to resolve their contempt of court dispute, the parties announced today in a joint submission a federal judge. “While we have not reached an agreement, counsel for the SEC, Mr. Musk, and counsel for Tesla met and conferred for over an hour by telephone
The Republicans may have some good news heading into the 2020 presidential election season, noted market strategist Jim Paulsen told CNBC on Thursday. That’s because he sees the timing of economic growth and the character of the economy as the most important issues for the election. “In some sense, we may look back on this
The revenue Robinhood gets from a controversial practice of selling customer trades to high frequency trading firms is skyrocketing, according to new research. The popular millennial stock-trading app brought in $69 million in order routing revenue in 2018, according to a new estimate from Alphacution Research, three times what the company brought in a year
An alleged $1.2 billion Ponzi scheme that collapsed more than two years ago has resulted in some advisors losing their jobs. In the latest monthly rundown of disciplinary actions taken by the Financial Industry Regulatory Authority, or FINRA, four cases involve brokers who put clients’ money in the Woodbridge Group of Companies, which regulators claim
An improved camera system will be a major selling point for Apple‘s 2019 iPhone lineup, according to a research note from TF International Securities analyst Ming-Chi Kuo. Improved cameras and picture quality could give consumers a reason to upgrade from older models as iPhone sales growth has stalled in recent years. Camera quality is frequently
This is breaking news. Please check back for updates. Canadian marijuana grower Canopy Growth announced Thursday a $3.4 billion deal to acquire Acreage Holdings after cannabis has been legalized in the United States. “Today we announce a complex transaction with a simple objective. Our right to acquire Acreage secures our entrance strategy into the United
American Express on Thursday reported lower earnings in the first quarter but earnings per share beat estimates. The New York-based company said it had net income of $1.55 billion, or $1.80 per share. Earnings, adjusted for non-recurring costs, came to $2.01 per share. The results surpassed Wall Street expectations. The average estimate of eight analysts
The U.S. cannabis space is blooming. With 33 states now offering some form of legal medical or recreational marijuana, and pot companies expanding their footprints across the country, the cannabis “gold rush” is underway — and it won’t stop anytime soon, says Ben Kovler, founder, chairman and CEO of multistate operator Green Thumb Industries. “The
Chanel Reynolds got the call you never want. Her husband, Jose, had been in a terrible accident and was now in intensive care, irreparably wounded. A week later, with no signs of brain function, he was removed from life support and died. Meanwhile, Reynolds realized they had wills, but they were not signed or notarized.
Pier 1 Imports’ Chief Financial Officer Nancy Walsh is leaving after a year in the job at the struggling home furnishing retailer, which reported a bigger-than-expected loss in the fourth quarter on Wednesday. The company known for its wicker chairs and scented candles has been battling falling sales in the face of increasing competition from
In New York City, home to our nation’s financial markets, a staggering 74 percent of its students are considered economically disadvantaged. They are parallel worlds, a few miles apart and largely invisible to one another. This is an increasing challenge across our country: How do we build a path to economic mobility for more of
Consumer goods group Unilever reported stronger than expected quarterly underlying sales growth, helped by higher prices and volume, and strength in emerging markets. The maker of Dove soap and Ben & Jerry’s ice cream also on Thursday stood by its outlook for the full year, which calls for underlying sales growth in the lower half
Some of China’s automobile industry watchers are putting their hopes on a new growth trend, driven by consumer demand for more intelligent cars. Electric-powered cars were a clear focus for start-ups and foreign auto giants alike at this week’s Shanghai Auto Show. For some in the industry, they say it will be the smartphone-like interface
CNBC’s Jim Cramer on Wednesday said that business in the construction industry seems to be picking up and it could make an interesting play for Waste Management. “Jim Fish, CEO of Waste Management who comes on all the time on the show, often commented that his best source of revenue is construction,” the “Mad Money”
CNBC’s Jim Cramer on Wednesday said investors could expect to see more mergers and acquisitions in the energy and oil space in 2019. “Anadarko was the first big oil deal this year, but I bet it won’t be the last,” the “Mad Money” host said. “That’s why I like Apache, I like Concho, Parsley, and
When it comes to money, many people aren’t getting it right — especially professional football players, NFL linebacker Brandon Copeland told CNBC on Wednesday. But there’s one thing in particular that they are doing wrong: Trying to “keep up with the Joneses.” Players entering the National Football League “end up trying to do what other
Pete Buttigieg’s increasingly popular presidential runhas drawn the support of more than two dozen top Democratic fundraisers, including people who bundled big-dollar donations for Barack Obama and Hillary Clinton during their White House bids, according to a list CNBC obtained from campaign aides. The financiers on the roster range from former U.S. ambassadors to real
Hyundai is hoping to make the SUV more accessible to entry-level buyers. The automaker’s latest offering is the compact Venue, expected to be priced under $20,000 for the base model. That price tag brings it under the Hyundai Kona, which is larger than the Venue. “It’s pretty darn small but it’s a perfect entry-level vehicle
President Donald Trump has called for a sweeping look at regulation of the energy industry — and that includes investments in retirement plans. In an executive order issued last week, Trump called for the Department of Labor to complete a review of energy investment trends and the fiduciary responsibilities tied to proxy voting to determine
The two biggest U.S. banks each just posted record first-quarter profit, the result of years of work building coast-to-coast franchises that have attracted billions in customer deposits. On Friday, J.P. Morgan Chase said it made $9.2 billion in the first three months of the year. Bank of America said Tuesday that it generated $7.3 billion.
Political feuding in Washington is keeping Americans up at night. In all, 44% of participants in a recent survey by Bankrate.com said the biggest threat facing the economy over the next six months is the political environment in the nation’s capital. The personal finance site polled 1,000 people over the phone from April 2 to
Step aside, Florida. New Mexico is the new top retirement destination. Those were the findings from a survey by United Van Lines. The relocation company polled 26,998 of its customers who moved last year, through Nov. 30, 2018. Among those who moved to New Mexico, 42% said they did so because of retirement, making the
Shares of Netflix were up about 2% on Wednesday after the company reported Q1 revenue, earnings and subscriber numbers that beat Wall Street expectations. The rally added about $4 billion to its market cap, bringing it to about $160 billion. The stock initially took a slight dip of 1% after hours Tuesday after providing light
Federal Reserve Chairman Jerome Powell isn’t the only market player who may be guilty of a little capitulation. Millionaire investors began 2019 with major reservations about the stock market, but as the Federal Reserve‘s abrupt December about-face on interest rates takes hold as the new normal in monetary policy, the wealthy have decided that the
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