The glut of hyperpriced mansions and luxury properties sitting on the market across the country has led sellers to turn to an unlikely solution: auctions. Real estate auctions, once used for foreclosures and distressed sellers, is moving upmarket. The number of multimillion-dollar homes being sold at auction has nearly doubled in the past year, according
For the two winners who have come forward to split the $687.8 million Powerball jackpot, investing is about to take on a whole new meaning. Robert Bailey, a 67-year-old retired postal worker in New York, claimed his lump-sum share — about $125.4 million after tax withholdings — on Wednesday. The other winner, Lerynne West, a
A painting by British artist David Hockney has sold for more than $90 million — a world record price for a work by a living artist. “Portrait of an Artist (Pool with Two Figures)” was sold at auction in New York for $90,312,500, Christie’s auction house announced Friday. Bidding on the 1972 painting opened at
For U.S. homeowners, the bad news in 2018 has been mounting, with rates on the rise and swaths of the real estate sector turning into a buyer’s market. In some of the country’s hottest segments, price gains have cooled definitively, with prices slashed and turnover stagnating. The phenomenon has even been chronicled on Instagram by
Hotels from Maine to Hawaii and beyond, will offer up room deals to travelers. Some may be tied to loyalty programs, so it may be a good time to consider signing up. Maine’s Kennebunkport Resort Collection (KRC) will offer gift card bonuses on Cyber Monday. Buy a $500 gift card and receive a $100 resort
While people start out with good intentions and set their sights on meeting various financial goals, many never achieve them and instead fail miserably. Here are nine bad habits that will hinder investors from reaching their financial success. 1. Failing to plan. Lacking a financial plan means you have no focus and you can easily
The U.K.’s wealthiest man, Jim Ratcliffe, could soon hold a larger influence over North Sea oil, with his company in exclusive negotiations with ConocoPhillips for its British assets. ConocoPhillips confirmed to CNBC via email Monday that it was in talks with Ineos about the purchase of its assets, excluding the Teesside Oil Terminal and its
Consumer confidence recently rose to an 18-year high. And unemployment has reached its lowest point since 1969. That means that — recent stock market volatility aside — consumers are expected to spend more this holiday season. Americans will spend a total of $1 trillion on retail and online shopping, according to research provider eMarketer. Individuals
If you want to slash your 2018 tax bill, consider giving away some of your wealth. This year marks the first under an overhaul of the tax code — and of traditional charitable giving. The Tax Cuts and Jobs Act roughly doubled the standard deduction to $12,000 for singles and $24,000 for married couples who
Financial matters cause stress to almost everyone. Some have a healthy anxiety around money matters that helps them make smart financial decisions, while for others that stress can lead to bad financial choices. If investors really want to safeguard or drive gains with those financial portfolios, it’s key to pay attention to how stress caused
The bull market is “in trouble,” strategist Alicia Levine told CNBC on Monday. U.S. stocks continued to fall on Monday, with large tech stocks leading the way down. The action came after equities posted sharp weekly losses on Friday. “There is probably another leg down from here,” said Levine, chief investment strategist at BNY Mellon.
Check out the companies making headlines after the bell: Urban Outfitters shares rose over 6 percent during after-hours trading Monday after the retailer beat analysts’ expectations on revenue and earnings. The company reported earnings of 70 cents a share versus an estimate of 62 cents a share. Third-quarter revenue was $974 million, while analysts had
U.S. companies aren’t leaving China in a big way yet, despite escalating trade tensions between the two economic powerhouses, analysts said. “A lot of companies are talking about making changes, but (are) not actively making changes,” said Chris Rogers, research analyst at Panjiva, a supply chain data company that’s part of S&P Global Market Intelligence.
The “Fast Money” traders shared their first moves for the market open. Pete Najarian was a buyer of Paypal Tim Seymour was a buyer of Coca-Cola Dan Nathan was a seller of Coca-Cola Guy Adami was a buyer of Valero Trader disclosure: On November 2018, the following stocks and commodities mentioned or intended to be
Prudential Financial’s Quincy Krosby has advice for investors: Let the stock market volatility work for you. She’s confident the market’s wild swings will ultimately subside and generate strong upside. “If the sell-off continues and it deepens, it’s going to provide tremendous opportunities as the market settles down,” the firm’s chief market strategist said Monday on
Bitcoin is still struggling to find a bottom this week. The digital currency dropped 16 percent on Tuesday to its lowest level since September 30th of last year, according to data from CoinMarketCap.com. Bitcoin fell as low as $4,200.22, according to data from CoinDesk, bringing its total losses in seven days to roughly 30 percent.
Shares of Deutsche Bank hit fresh record lows Tuesday after the bank confirmed to Reuters it was involved in processing payments worth $150 billion for scandal-ridden Danske Bank. A Deutsche Bank spokesperson confirmed in a statement to Reuters Monday that the lender acted as a correspondent bank for Danske in Estonia. “Our role was to
Weaker demand for Apple products as well as a lackluster reception for the iPhone XR outside of the United States will prevent shares from advancing at all over the next year, according to Goldman Sachs. “In addition to weakness in demand for Apple’s products in China and other emerging markets it also looks like the
Check out the companies making headlines before the bell: Target – The retailer earned an adjusted $1.09 per share for the third quarter, 3 cents a share below estimates. Revenue exceeded forecasts, however, and comparable-store sales were up 5.1 percent, just slightly below the Refinitiv estimate of a 5.2 percent increase. Best Buy – The
Capital One acquired a four-year old online-shopping startup in its latest effort to offer tech services that engender loyalty to the bank’s credit cards. The bank purchased Wikibuy on Nov. 17 for an undisclosed amount, according to executives from Capital One and the Austin, Texas-based startup. Two million members use Wikibuy to automatically find low