An American Airlines Airbus A321-200 plane takes off from Los Angeles International airport (LAX) in Los Angeles, California. Mike Blake | Reuters American Airlines shares jumped by more than 55% in premarket trading on Thursday after posting a smaller-than-expected loss and higher sales than analysts projected. The carrier is the most-shorted U.S. airline, according to
NINETY-two-year-old billionaire apparel mogul turned producer and philanthropist Sidney Kimmel, and his wife Caroline, have found a buyer for their sprawling 27th-floor unit at the landmarked Ritz-Carlton Residences on Central Park South. The apartment sold for around $20 million — down from its original asking price of $29.5 million last year. Kimmel bought the unit
A Reddit logo seen displayed on a smartphone with stock market prices in the background. Omar Marques | LightRocket | Getty Images LONDON — U.S. amateur traders aren’t the only ones rushing to invest in stocks promoted on a popular Reddit board. A flurry of retail investors are flocking to historically-unloved stocks such as GameStop
Call them the Reddit Rich. GameStop’s parabolic stock surge over the past two weeks, driven partly by the Reddit Wallstreetbets crowd, has created more than $2 billion in personal wealth for the company’s three biggest individual shareholders. While it may not last long, the massive shareholder gains created in such a short time gives new
Ramin Talaie | Bloomberg | Getty Images GameStop soared yet again, topping $450 apiece in premarket Thursday, as the Reddit-driven retail momentum continued to heat up. Shares of the brick-and-mortar video game retailer reversed losses in overnight trading, with it last jumping 31% to $451.10 in premarket trading. The move followed a more than 130% rally
Morsa Images | E+ | Getty Images You know you need to save for retirement. Figuring out how to get started or finding the best plan may leave you befuddled. Yet it is important. By the age of 67, you should have 10 times your final salary set aside, according to Fidelity Investments. Here are
Newly published data from the Internal Revenue Service (IRS) shows that the first round of economic impact payments primarily benefited households earning less than $100,000. Lawmakers passed the first round of payments under the CARES Act in March 2020 and the Treasury Department began sending payments in early April 2020. The IRS sent more than
Levi’s clothes are seen on a store shelf in Miami, Florida. Joe Raedle | Getty Images Levi Strauss & Co. reported Wednesday its total holiday-quarter sales dropped 12%, marking an improvement from a more than 20% decline in the prior period, as weak shopper traffic at its stores was partially offset by double-digit growth online.
The pandemic may be raging, but Hamptons real estate couldn’t be healthier. In just three months, from October to December, people snapped up an eye-popping $2.159 billion worth of property on the East End, with the sale of just 844 homes. That’s up 133% from the last quarter of 2019, when folks spent $924.82 million
The logo of German online bank N26 displayed on a smartphone. Thomas Trutschel | Photothek via Getty Images LONDON — German online bank N26 is considering making an acquisition for the first time, after raising heaps of cash and trimming its losses despite the coronavirus pandemic. The $3.5 billion financial technology firm said net losses
Bill Gates was “very surprised” when he and Dr. Anthony Fauci became the targets of “crazy” and “evil” conspiracy theories related to the ongoing coronavirus pandemic, Gates told Reuters on Wednesday. The billionaire Microsoft co-founder and White House advisor Fauci, the nation’s top infectious diseases expert, have been frequent targets for baseless coronavirus conspiracy theories,
The wild trading involving GameStop shares presents a broader threat to the U.S. equity market, the chief securities regulator in Massachusetts told CNBC on Wednesday. “The marketplace should be a place where risk is taken, but not reckless risk and not a situation that undermines the system and that’s what we’re looking at here,” Massachusetts
Ariana Drehsler | AFP | Getty Images A shift in federal health-care policy appears to be underway. As early as Thursday, President Joe Biden is expected to issue executive orders to temporarily reopen the health insurance exchanges and to address roadblocks encountered when low-income households try to access Medicaid. Although details are slim, the actions
Herman Termeer (cq) watches the brushfire at Chino Hills State Park from the roof of his house on Tuesday, Oct. 27, 2020 in Chino Hills, CA. Myung J. Chun | Los Angeles Times | Getty Images Roughly 35 million homes, or nearly one third of the nation’s housing stock, are at “high risk” of a
This week’s map continues our look at state revenue sources, this time focusing on revenue collected through the general sales tax. Sales taxes are the second largest source of state and local tax revenue, accounting for 23.3 percent of total U.S. state and local tax collections in fiscal year 2018 (the latest data available). Consumption taxes
The U.S. Department of Health and Human Services building in Washington. Caroline Brehman | CQ-Roll Call, Inc. | Getty Images Federal officials at the Department of Health and Human Services raided funds from a little-known agency intended for vaccine research and emergency preparedness, spending millions to move furniture and pay unrelated salaries, according to a
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