Wealth

Have tech companies gotten so big that it’s bad for the economy? Senator Elizabeth Warren says so. She’s proposing to break up not one, but several tech giants, including Amazon, Apple, Facebook and Google. She says they shouldn’t be allowed to both run distributor platforms and compete on them. It’s like being an umpire and
0 Comments
The University of Southern California has blocked students who were linked to the admissions scandal from registering for classes and getting their transcripts. Among the students enrolled in USC are the daughters of “Full House” actress Lori Loughlin and her husband, designer Mossimo Giannulli, whom federal prosecutors charged with paying $500,000 in bribes to get
0 Comments
The far-left policy proposals from freshman firebrand Rep. Alexandria Ocasio-Cortez and some of the candidates seeking the 2020 Democratic presidential nomination are wrong for America, former House Majority Leader Eric Cantor told CNBC on Friday. “I worry as an American about the direction of one of our two major parties going toward socialist,” said Cantor,
0 Comments
Two high-profile actresses and a slew of business executives, including a former head of Pimco and a founder of Hercules Capital, were among more than 40 people charged in a $25 million cheating scheme to help wealthy students to gain admission to top colleges, law enforcement officials said Tuesday. Suspects allegedly paid bribes to sports
0 Comments
Federal prosecutors charged dozens of people on Tuesday in a giant college entrance scandal in which wealthy parents, including some high-profile actresses and a slew of business executives, paid bribes and worked with cooperating witnesses to get their children into top colleges across the U.S. The sprawling investigation made airwaves across the country, as people
0 Comments
Sam Zell, the billionaire businessman and philanthropist, believes the wealth redistribution ideas of far-left Democrats, such as freshman firebrand Rep. Alexandria Ocasio-Cortez, won’t work because Americans would rather earn success than get handouts. “Everyone in America wants to be rich. Everybody in America wants to succeed,” Zell told CNBC on Wednesday. “That’s, by the way,
0 Comments
The U.S. should increase taxes on the wealthy as the disparity between the rich and poor has reached extreme levels, investor Jeremy Grantham said Thursday. “I arrived in 1964, and America was a fairly equal place with fairly rapid mobility between socioeconomic classes,” Grantham, an investor who manages more than $100 billion in assets at
0 Comments
Despite gains in income and wealth for black families in America, white families often have a net worth up to 10 times higher. Discriminatory financial practices such as redlining or credit discrimination have increased the wealth gap and held black families back from being able to create generational wealth. Times are changing. Black millennials are
0 Comments
Warren Buffett said Monday that wealthy people pay lower taxes when compared to the rest of the United States population. “The wealthy are definitely undertaxed relative to the general population,” Buffett told CNBC’s Becky Quick on “Squawk Box.” Buffett’s comments come after Berkshire Hathaway released its fourth-quarter earnings and after Buffett put out his annual
0 Comments
There’s little question that technology is shaping the future of our work, our play and even how we form opinions. But who is shaping that technology? It’s been quite an economic run. The stock market has been climbing for a decade, and in that time, tech companies like Apple, Alphabet, Amazon and Facebook have gone
0 Comments
Over the past century, hundreds of once-familiar brand names have been shipped off to the automotive scrapyard, but two long-dead makes will be vying for a revival next month at the annual Geneva International Motor Show. To find a place in a rapidly evolving auto industry, British-based Lagonda and Spain’s Hispano Suiza are looking forward
0 Comments