A man uses a credit card to pay for gas in Miami, Florida. Getty Images America is a nation of contrasts, and credit card debt is no exception. With unemployment at a 50-year low and the stock market hitting record highs, confident consumers are spending with abandon, adding a projected $80 billion in U.S. credit
Investing
We sat down with Art Cashin, managing director of UBS Financial Services who’s patrolled the floor of the New York Stock Exchange for more than fifty years, at Bobby Van’s Steakhouse to chat about what’s ahead in 2020. Here are three predictions the veteran Wall Street trader offered for 2020: Prediction one: Despite a still
Reed Hastings, chief executive officer of Netflix Patrick T. Fallon | Bloomberg | Getty Images A small but significant group of Netflix and Disney+ users have told Bank of America they expect to cancel their Netflix subscriptions, rekindling concerns that new combatants in Wall Street’s “Streaming Wars” could hamstring current players. The bank’s survey of
A FedEx employee loads up deliveries in San Francisco. Getty Images “Face plant” and “awful” aren’t descriptors CEOs want to hear after reporting quarterly profit numbers. But FedEx’s second-quarter results were so bad — the profit decline so steep — that such severe language is not only justified, but it wouldn’t be surprising to see
An ATM is shown at company headquarters for the PNC Financial Services at One PNC Plaza in Pittsburgh, Pennsylvania. Getty Images PNC and Venmo are bickering over customers’ access to third parties, highlighting the sometimes murky area of connecting finance apps to bank accounts. Over the past month, PNC customers have taken to Twitter to