Finance

Why do people 'bash' bankers?

Bankers have taken on an almost cartoon villain like quality ever since the financial crisis of 2008. But has a lot of that criticism been unjust banker bashing?  According to a report recently published by Selby Jennings titled “Lehman Brothers Ten Years On: Banking and Financial...

Monday, February 19, 2018 - 3:29pm

Warren Buffet, world's second-richest man, says repealing estate tax is a 'terrible mistake'

Warren Buffet, the second-richest man in the world, is calling foul on President Donald Trump’s plan to do away with the estate tax on the wealthiest Americans. The estate tax is levied on property as it passes ownership from a dead person onto their heirs on estates worth more than $5.5...

Tuesday, October 3, 2017 - 9:51pm

President Trump wants you to know he isn't getting rich off the stock market, but 'everyone else' is

Speaking about the stock market from Poland Thursday, President Donald Trump said the stock market is at an all-time high, but he appeared to lament the fact that “everyone else is getting rich” while he serves out his term as president. “When I say that the stock market is at an...

Thursday, July 6, 2017 - 7:42pm

Jitters push Treasury yields, dollar to seven-month lows

U.S. Treasury yields and the dollar dropped to seven-month lows on Tuesday and world stocks slid as political uncertainty from the United States to the Middle East and weakness in commodity markets pushed investors away from risky assets. The yen and gold also gained amid prevailing caution as an...

Tuesday, June 6, 2017 - 2:22pm

Cashing in on legal weed might be a millionaire's game, but there's still hope for the little guy

Ten years ago, investing in pot meant ponying up a few hundred dollars for an ounce to divvy up into dime bags to sell to your friends for a profit, but relaxing laws around medicinal and recreational cannabis have given way to a multibillion-dollar industry and a lot of opportunity for growth....

Tuesday, May 30, 2017 - 5:06am

Cambridge hedge fund manager used millions of investors money in Ponzi-like scheme to pay for extravagant lifestyle

 A Massachusetts hedge fund manager has been arrested and accused of misappropriating millions of dollars from investors and engaging in a Ponzi-like scheme, authorities said. Yasuna Murakami, who managed Cambridge-based MC2 Capital Management LLC, was arrested in Vermont on Saturday and...

Monday, May 22, 2017 - 12:31pm

When are taxes due?

“When is Tax Day?” If you’ve recently asked yourself or a friend this question, you’re going to want to keep reading.   Prepare yourself, procrastinators, because your taxes must filed by Tuesday, April 18. If that sounds not quite right, it's because Tax Day...

Thursday, April 6, 2017 - 4:46pm

‘Ethics in Action’ to spotlight Wall Street reform in public forum

New Yorkers who think what happens on Wall Street only pertains to the so-called "1 percent" are encouraged to think again.“The everyday person who’s lucky enough to have a pension should be aware of what’s happening on Wall Street,” Dr. Anne Klaeysen of the New York Society for Ethical Culture...

Tuesday, February 7, 2017 - 10:07pm

Smokers pay up to $2.3M over a lifetime: Report

Smokers who want to kick their dirty little habit in the new year might find an incentive in a study released Tuesday that reveals just how much they're paying per pack.Personal finance siteWalletHub crunched the numbers across the country, and found pack-a-day smokers can pay up to $2.3 million...

Tuesday, January 17, 2017 - 2:24pm

Bernie Sanders joins Cuomo to unveil plan for free tuition at CUNY and SUNY schools

Sen. Bernie Sanders was smiling while joining Gov. Andrew Cuomo at LaGuardia Community College Tuesday, to announce that free college tuition for the middle class — a cornerstone of Sanders’ presidential run — could become a reality in New York.Cuomo’s plans to make all CUNY and SUNY schools...

Tuesday, January 3, 2017 - 6:45pm

This is how much the '12 Days of Christmas' gifts would cost you

Add two turtle doves, 11 pipers piping and 12 drummers drumming to the list of Christmas gifts that went up in price this year.Anyone planning on purchasing all 364 gifts in "The Twelve Days of Christmas" carol for their sweetie can expect to pay more this year, according to the Christmas Price...

Thursday, December 1, 2016 - 8:03pm

Class of 2016, here’s how to set up your first 401(k)

401… what?No shame if that’s the first thought that comes to mind when presented with this benefit at your first job post-graduation. It’s named after a section of the tax code, and the IRS could’ve saved us all a lot of grief by calling it what it is: an employer-sponsored retirement savings...

Friday, July 22, 2016 - 1:00pm

5 reasons your credit score is lower than you thought, and what to do about it

The only thing worse than getting a nasty surprise is getting a nasty surprise about your finances. For instance, you check your credit score and discover it’s much lower than you anticipated. You wonder, “What went wrong?”Here are five unexpected reasons your credit score may be in a lower...

Friday, July 22, 2016 - 12:58pm

NYC economy shows signs of slowdown despite record-setting employment

New York City’s financial indicators show that the city’s economy may be cooling despite a record number of employed citizens and a growth in private-sector payroll jobs.City Comptroller Scott Stringer released his quarterly economic update, which reviewed a range of data to illustrate the state of...

Friday, May 13, 2016 - 11:46pm

Smart money: Parents are using college costs to teach financial lessons

NEW YORK - With U.S. college enrollment decisions for autumn due by May 1, some families are using the application process as an opportunity to teach their kids valuable lessons about finance.What college -bound children learn now about the difference between grants and loans and compound...

Monday, April 25, 2016 - 8:22pm

Women in NYC earn about $5.8B less yearly than men: Public Advocate

Although New York City has in many ways led the fight for gender equality, one new report says that men in the city take home a total of about $5.8 billion more than women each year.Public Advocate Letitia James released a policy report on Monday that looked into the issue of gender wage gaps...

Monday, April 11, 2016 - 11:29pm

Over half of us are a $500 bill away from financial ruin, report finds

Good news, proletarians, according to CBS, you're just onebill away from total and complete financial ruin.“Despite the stronger economy, a lack of emergency savings that would help them weather an unexpected expense such as a health crisis or car breakdown remains a serious handicap,” CBS explains...

Wednesday, January 6, 2016 - 2:18pm

Yahoo scraps its Netflix challenger

Yahoo has opted to quietly shutter its Yahoo Screenoperation,a streaming content service meant to do battle with Netflix and Hulu, after just over two years of operation.The service launched in late 2013 and began adding original titles in 2014, but aside from its high-profile acquisition of NBC's...

Monday, January 4, 2016 - 3:39pm

Finn Witrock plays with the big boys in 'The Big Short'

Finn Witrock's approach to handling being in an ensemble cast that includes Brad Pitt, Ryan Gosling and Christian Bale — all of whom star in Adam McKay's "The Big Short" — is to make light of it. That way, he doesn't have to focus on how intimidating it can be. "I get to share [the screen] with...

Thursday, December 31, 2015 - 12:04am

Will Martin Shkreli have to hand over his Wu-Tang Clan album?

A news conference announcing federal securities fraud charges against former hedge fund boss Martin Shkreli took an unusual turn on Thursday with a question about a $2 million copy of a Wu-Tang Clan album he bought in May.Shkreli, 32, had bragged to Bloomberg Businessweek about buying the only copy...

Friday, December 18, 2015 - 4:05pm