Bitcoin and other digital currencies won’t entirely replace traditional currencies like dollars, venture capitalist Joyce Kim told CNBC on Wednesday. The SparkChain Capital co-founder said on “Squawk Box” that she does not believe “the tokens will become the money of the future for every single person for every transaction.” Kim, whose firm invests in blockchain
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Goldman Sachs on Wednesday reported fourth-quarter earnings of $5.68 a share that topped Wall Street estimates. The company posted a net loss when factoring in a tax hit, largely because of a one-time charge for bringing overseas profits back to the U.S. The investment bank titan also beat on revenue, reporting $7.83 billion against estimates
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Tiffany & Co. on Wednesday reported an 8 percent increase in net revenue during the holiday season, fueled by higher sales of fine jewelry, watches, and a new home and accessories collection. Total same-store sales were up 5 percent during the November and December months, the company said. In the U.S. alone, same-store sales rose
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Moynihan had announced the bonus in late December, citing the tax bill that President Donald Trump signed cutting the corporate tax rate to 21 percent from 35 percent. CFO Paul M. Donofrio added Wednesday on a call with media that the bank expects its effective tax rate for 2018 to fall to 20 percent from
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Bitcoin briefly plunged below $10,000 late Tuesday afternoon on Coinbase, after first topping the psychologically key level in late November. Other major digital currencies also sold off sharply. Digital currency ethereum plunged 30 percent Tuesday, to below $1,000, while ripple fell below $1. In fact, nearly every major cryptocurrency suffered massive losses during the day.
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China’s banking regulator chief warned that a “black swan”, or an unforeseen event could threaten the country’s financial stability, official People’s Daily reported on Wednesday. In an interview with the paper, Guo Shuqing said that while risks in the financial system are manageable, they are still “complex and serious.” Since his appointment as the head
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The worst intra-day market reversal in nearly a year might’ve spooked investors, but CNBC’s Jim Cramer argued that the market still has a major driver in its metaphorical back pocket. “I’m talking about the ongoing stock shortage,” the “Mad Money” host said. “The shortage is so real, so palpable, that I think it could become
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When it comes to college, most families assume public schools are far more affordable. That’s only partly true. At public, four-year institutions, costs for the 2017-18 school year hit $20,770, according to the College Board. Tuition plus room and board at four-year private universities was much higher: $47,000, on average, in the current academic year.
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Swiss food group Nestle agreed to sell its U.S. confectionery business to Italy’s Ferrero for $2.8 billion, it said on Tuesday, the first major sale from CEO Mark Schneider and a small step on its path towards healthier products. The U.S. unit, home to local, mass-market names BabyRuth, Butterfinger and Crunch, has been underperforming rivals
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In retirement, just like in real estate, it’s “location, location, location.” With more and more retirees responsible for their own financial security, choosing the right retirement destination can make or breakany lazy-day fantasies. To that end, WalletHub compared the retirement-friendliness of all 50 states using criteria such as cost of living, crime rate, tax-friendliness on
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Citigroup reported quarterly earnings on Tuesday that beat expectations on solid results from consumer banking. The big bank also reported a charge of roughly $19 billion following a revamp to the U.S. tax code. Citigroup reported adjusted earnings per share of $1.28 for the fourth quarter of 2017. Analysts polled by Reuters expected earnings to
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Stock markets are rallying, central banks are drifting to the exit as low inflation persists and economies are enjoying the benefits of synchronized growth — what could possibly go wrong? Surely 2018 is another so-called “Goldilocks” year for investors — not too hot, not too cold … just right, which means profits for retail investors
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CVS Health Monday said it will ban photo manipulation in its store-brand makeup marketing and promotional displays, a move that acknowledges growing awareness of the harmful nature of touched-up images. The nation’s largest drugstore chain will also require other makeup and beauty brands that sell products in its aisles to commit to a photo-manipulation ban
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