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General Electric shares fell more than 11% Thursday after Madoff whistleblower Harry Markopolos targeted the conglomerate in a new report, accusing it of issuing fraudulent financial statements to hide the extent of its problems. A website has been set up to disseminate the report, www.GEfraud.com, where Markopolos calls it “a bigger fraud than Enron.” The
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Nearly three years into the Trump Administration, you may think the pendulum for banking regulations — Dodd-Frank rules created after the 2008 crisis — has swung to a more permissive position. President Trump campaigned promising to dial back regulations, and legislators from both parties promised some “recalibration.” Certainly, some changes have happened. Following the 2018
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Check out the companies making headlines before the bell: Deere – The heavy equipment maker reported adjusted quarterly profit of $2.71 per share, missing the consensus estimate of $2.85 a share. Revenue also missed forecasts, with the company saying some farmers are postponing purchases because of uncertainties regarding the export market. Applied Materials – Applied
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The General Electric Co. logo is seen on the company’s corporate headquarters building in Boston, Massachusetts, U.S. July 23, 2019 Alwyn Scott | Reuters Enron whistleblower Harry Markopolos released a report on General Electric on Thursday alleging the company is hiding financial problems. Before the report was made public, GE said, in a statement, “we
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Today’s data for July housing starts and permits was very mixed. Of course, the month on month data is volatile (and subject to very large revisions) due to difficult seasonal adjustment factors and changes in the weather, but the Year on Year (YoY) trend is more reliable. For housing starts, July’s result was far below
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Kurbo app Scott Mlyn | CNBC Do your homework! Clean your room! Count your Weight Watchers points? Weight Watchers, which now calls itself WW, this week introduced a new app called Kurbo by WW to “help kids and teens ages 8-17 reach a healthier weight.” WW last year acquired Kurbo, a digital health start-up whose
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The “Fast Money ” traders shared their first moves for the market open. Pete Najarian was a buyer of Industrials ETF puts. Karen Finerman was a buyer of Target. Dan Nathan was a seller of the Financials ETF. Guy Adami was a buyer of Eastman Chemical.  Disclosure Trader disclosure: Pete is long calls ALLY, AMD, DISCA, DOCU,
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Back to school is an increasingly costly time of year, particularly for families with college-bound children. A college education is now the second-largest expense an individual is likely to make in a lifetime — right after purchasing a home. Tuition and fees for a four-year private college averaged $35,830 in 2018-19; at four-year, in-state public
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Credit: Getty Royalty Free Getty Even though you may be retired, the tax man is ready to take a slice of your Social Security and retirement fund payouts. How can you minimize his cut? Stephen Nelson, a wealth manager at Aldrich Wealth in Carlsbad, Calif., has some very good advice here: Larry Light: With boomers
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