Author: fqw82np

The Starlink logo is seen in the background of a silhouetted woman holding a mobile phone.Sopa Images | Lightrocket | Getty ImagesThe Federal Communications Commission authorized SpaceX to provide Starlink satellite internet to vehicles in motion, a key step for Elon Musk’s company to further expand the service.”Authorizing a new class of [customer] terminals for SpaceX’s satellite system will expand the range of broadband capabilities to meet the growing user demands that now require connectivity while on the move, whether driving an RV across the country, moving a freighter from Europe to a U.S. port, or while on a domestic…

Read More

In this articleRHJason Kempin | Getty Images Entertainment | Getty ImagesHigh-end furniture chain RH on Wednesday slashed its outlook for 2022 revenue, anticipating consumer demand for its products will continue to soften in the back half of the year.The company now sees annual sales down between 2% and 5%, compared with prior expectations that saw sales flat to up 2%. It said it still anticipates revenue in its fiscal second quarter to be down between 1% and 3% from prior-year levels.RH shares fell nearly 8% in after-hours trading following the release. The stock had already fallen almost 3% during regular…

Read More

Sam Bankman-Fried, chief executive officer of FTX Cryptocurrency Derivatives Exchange, speaks during a House Financial Services Committee hearing in Washington, D.C., U.S., on Wednesday, Dec. 8, 2021.Stefani Reynolds | Bloomberg | Getty ImagesFTX is swooping in to buy crypto lender BlockFi for pennies on the dollar, sources told CNBC.The term sheet is almost over the finish line and expected to be signed by the end of the week, according to one source, who asked not to be named because the deal discussions were confidential. FTX will pay roughly $25 million — 99% below BlockFi’s last private valuation. Jersey City, New…

Read More

Justin Sullivan / GettyIf you’re holding the winning ticket for Powerball’s $366.7 million jackpot, don’t forget about your silent partner: Uncle Sam.After rolling higher for about two months of three weekly drawings with no winner, the lottery game’s top prize was nabbed in Wednesday night’s drawing. The ticket was purchased in Vermont, which marks the first time the jackpot has been won in that state. Of course, the advertised amount isn’t what the winner will end up with. Whether the prize is taken as an annuity of 30 payments over 29 years or as an immediate, reduced cash lump sum, taxes…

Read More

Traders on the floor of the NYSE, June 29, 2022.Source: NYSE(Click here to subscribe to the new Delivering Alpha newsletter.)A majority of Wall Street investors believe the market stands pretty much dead in the water for the rest of 2022 and, as a result, think it’s time to buy dividend-paying stocks, according to the new CNBC Delivering Alpha investor survey. We polled about 500 chief investment officers, equity strategists, portfolio managers and CNBC contributors who manage money about where they stood on the markets for the rest of 2022. The survey was conducted this week.When asked “what are you most likely to buy now?,” 42%…

Read More

andresr | E+ | Getty ImagesIRA rollovers — transfers from 401(k) plans to individual retirement accounts — are a common financial move when workers switch jobs or retire. But rollover IRAs can cost Americans billions of dollars in extra fees over decades, according to a study issued Thursday by The Pew Charitable Trusts, a nonprofit research organization.The dynamic is due to the lower annual fees for mutual funds generally available to 401(k) savers relative to costs incurred by IRA investors.More from Personal Finance:Just 1% of people got a perfect score on this Social Security quizStudents are taking on ‘unsustainable debt’…

Read More

The Supreme Court’s recent 5-4 decision to overturn Roe v. Wade and allow states to outlaw abortion could have long-lasting financial effects on those seeking the procedure, researchers have found.Those who are unable to get an abortion and later go on to give birth are more likely to experience “an increase in household poverty lasting at least four years” compared to those who had access to one, according to the University of California, San Francisco’s Turnaway Study, one of the most authoritative studies on the subject. It followed 1,000 women who sought abortions over a five-year period ending in January…

Read More

In this articleSAVEJBLUULCCA Spirit Airlines plane on the tarmac at the Fort Lauderdale-Hollywood International Airport on February 07, 2022 in Fort Lauderdale, Florida.Joe Raedle | Getty ImagesSpirit Airlines on Wednesday delayed shareholder vote on its proposed merger with Frontier Airlines until July 8, hours before a meeting scheduled for Thursday so it can further discuss options with Frontier and rival suitor JetBlue Airways.It is the second time Spirit has delayed a vote on its planned combination with Frontier and extends the most contentious battle for a U.S. airline in years.Spirit originally scheduled Thursday’s vote for June 10 but had delayed…

Read More

The Walgreens store at State and Randolph Streets in Chicago.Nancy Stone | Chicago Tribune | Tribune News Service via Getty ImagesWalgreens Boots Alliance on Thursday reported quarterly sales and earnings that came in above expectations as it grew online sales and continued to administer Covid-19 vaccines.The drugstore chain stood by its outlook for the full year, saying it expects adjusted earnings per share to grow by the low single-digits.Shares of the company were down by about 2% in premarket trading.Here’s what the company reported compared with what analysts were expecting for the three-month period ended May 31, based on Refinitiv data:Earnings…

Read More

Fotografia Inc. | E+ | Getty ImagesNothing says Independence Day like a good, old-fashioned barbecue.In keeping with tradition, most Americans — roughly 60% — plan to grill this weekend, and 53% will get together with friends and family, according to a recent report by market research firm Numerator.”Consumers want to celebrate this summer for a number of reasons, and food is central to that,” said Karol Aure-Flynn, a food and agribusiness analyst and author of Wells Fargo’s July Fourth food inflation report.More from Personal Finance:Here are 3 ways to deal with inflationWhat people expect to spend more on as inflation surges58%…

Read More

A photo illustration showing the North Korean flag and a computer hacker.Budrul Chukrut | Sopa Images | Lightrocket | Getty ImagesNorth Korean state-sponsored hackers were likely the perpetrators of a hack that led to the theft of around $100 million in cryptocurrency, according to analysis from blockchain researchers.The hackers targeted Horizon, a so-called blockchain bridge developed by U.S. crypto start-up Horizon. The tool is used by crypto traders to swap tokens between different networks.There are “strong indications” that Lazarus Group, a hacking collective with strong ties to Pyongyang, orchestrated the attack, blockchain analytics firm Elliptic said in a blog post…

Read More

Anchiy | E+ | Getty ImagesCertain “junk” fees often levied by debt collectors are illegal under federal law, the Consumer Financial Protection Bureau said Wednesday.Debt collectors charge so-called “pay-to-pay” fees, also known as convenience fees, when consumers make a payment online or over the phone, according to the federal agency.These fees violate the Fair Debt Collection Practices Act when they aren’t “expressly authorized by the agreement creating the debt” or in instances when they’re not “expressly authorized by law,” the CFPB said in an advisory opinion.More from Personal Finance:Winning $1 million Mega Millions ticket is about to expireHere’s how to…

Read More

In this articleULCCJBLUAALA Frontier Airlines plane near a Spirit Airlines plane at the Fort Lauderdale-Hollywood International Airport on May 16, 2022 in Fort Lauderdale, Florida.Joe Raedle | Getty ImagesThe most heated airline battle in recent years comes to a head on Thursday when Spirit Airlines’ shareholders vote on a proposed tie-up with fellow discount carrier Frontier Airlines while rival suitor JetBlue Airways circles with increasingly sweetened takeover bids.Spirit has repeatedly rebuffed sweetened, all-cash bids from JetBlue, arguing that such a takeover wouldn’t pass muster with regulators, and has stuck with its plan to combine in an also-sweetened cash-and-stock deal to…

Read More

Charles ScharfQilai Shen | Bloomberg | Getty ImagesWells Fargo CEO Charles Scharf said he is betting on “more significant rate hikes” as the Federal Reserve tries to rein in high inflation, and that the economy is not as prepared as it should be.”I wouldn’t bet on a number, but I would bet on more significant rate hikes,” Scharf told CNBC’s Sara Eisen at the Aspen Ideas Festival on Wednesday, adding that he considers 50 and 75 basis point hikes to be “significant themselves.””Is it going to be more than that? Maybe, but it would require some change in the data…

Read More

Ric Edelman, founder of the Digital Assets Council of Financial Professionals.Heidi Gutman | CNBCBitcoin’s recent rout — including its recent drop below $20,000 — has given some cryptocurrency naysayers an “I told you so” moment.”How do you make a million? Invest a billion in bitcoin,” one panelist joked at a conference for financial advisors earlier this month, which drew laughter from the crowd.Ric Edelman, a former independent financial advisor and founder of Edelman Financial Services, presented at a separate session at the same Wealth Management EDGE conference with a different message.”A lot of folks are convinced it’s a fad or…

Read More

In this articleMC-FRA winemaker samples a glass of Joseph Phelps Insignia at the Culinary Institute of America, in St. Helena, Calif.Eric Risberg | APLVMH’s Moet Hennessy division on Wednesday announced it has acquired California wine-maker Joseph Phelps Vineyards, as the French luxury goods giant continues to broaden its drinks portfolio.The deal delivers Moet one of the best-known California wine makers, famous for its red table wines and premium Insignia label, and deepens its foothold in the U.S., its largest market. Terms of the deal were not disclosed.Moet Hennessy Chairman and CEO Philippe Schaus told CNBC the company had been looking…

Read More

In this articleLGF.ALiberty Media’s John MaloneMichael Kovac | Getty ImagesStarz wasn’t John Malone’s most successful investment. But it may be his most symbolic.The media mogul once controlled Starz as an independent company. In 2016, he merged it with Lionsgate, another company he owned a piece of at the time. A year before that deal closed, Malone explained he hoped the deal would be the first of several.”Lionsgate could buy Starz and potentially other free radicals in the industry,” he said.Written in the Starz?Lionsgate is planning a spinoff of Starz, home of “Outlander” and “Power,” by early next year. Vivendi’s Canal Plus and…

Read More

Eakgrunge | Istock | Getty ImagesThere’s been record demand for federal Series I savings bonds, an inflation-protected and nearly risk-free asset, offering an eye-popping 9.62% annual return through October.However, it’s not easy to buy I bonds through TreasuryDirect, a 20-year-old platform run by the U.S. Department of the Treasury, financial advisors say. ”It’s like going to the DMV online,” said Matt Stephens, a certified financial planner with AdvicePoint in Wilmington, North Carolina, explaining how the process of buying I bonds is especially difficult for his older clients.Inflation is driving up demand for I bondsI bond interest has two parts, a fixed…

Read More

.Mike Segar | ReutersIt looks like a Mega Millions player is about to join the ranks of lottery winners who end up missing out on a windfall.A ticket purchased in Lewisville, North Carolina, and worth $1 million will expire Thursday at 5 p.m. The amount is a second-tier prize for matching five out of the six numbers that were pulled in the lottery game’s Dec. 31 drawing.”Sometimes people leave their tickets in a night stand, the glove compartment of their cars and trucks, or tucked away in a wallet,” said Mark Michalko, executive director of the state’s lottery.Zoom In IconArrows…

Read More

In this articleCCLBBBYA security guard stands next to a Bed Bath & Beyond sign at the entrance to a New York City store location.Scott Mlyn | CNBCCheck out the companies making headlines in midday trading.Bed Bath & Beyond — Shares of the retailer plummeted about 21% after the company missed revenue estimates and posted a wider-than-expected loss in the recent quarter. Bed Bath & Beyond also announced it is replacing CEO Mark Tritton.Carnival — Shares of the cruise line operator fell more than 14% after Morgan Stanley cut its price target on the stock roughly in half and said it could potentially go to…

Read More