Investing

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

Ray Dalio, founder of investment firm Bridgewater Associates, speaking at the WEF in Davos, Switzerland on Jan. 22, 2019. Adam Galica | CNBC Hedge fund titan Ray Dalio said he wouldn’t rule out China using its Treasury holdings to gain an upper hand against the U.S. in the trade war — a view that contrasts

A visitor at Intel’s Artificial Intelligence (AI) Day walks past a signboard during the event in Bangalore, India Manjunath Kiran | Getty Here are the biggest calls on Wall Street on Friday: Bank of America downgraded Dow Inc. to ‘underperform’ from ‘neutral’ Bank of America said it downgraded the chemical company due to global demand

The allegations by Madoff whistleblower Harry Markopolos of a $38 billion fraud at General Electric are “at best disingenuous” and “at worst highly inaccurate,” according to Nick Heymann, co-group head of global industrial infrastructure at the William Blair financial services firm. “You got the stock on sale yesterday for absolutely no basis. This is why

President Donald Trump held a conference call with the CEOs of the three biggest U.S. banks as the stock market plunged Wednesday. Trump held the call with J.P. Morgan Chase CEO Jamie Dimon, Bank of America‘s Brian Moynihan and Citigroup‘s Michael Corbat, according to people with knowledge of the situation. The Dow plunged 800 points, or 3%, in

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

Levi Strauss & Co. CEO Chip Bergh (L) and CFO Harmit Singh (R) pose ahead of the company’s IPO outside the New York Stock Exchange (NYSE) in New York, U.S., March 21, 2019. Brendan McDermid | Reuters Here are the biggest calls on Wall Street on Thursday: Bank of America upgraded Levi Strauss & Co.

Pedestrians pass in front of the New York Stock Exchange, May 24, 2019. Michael Nagle | Bloomberg | Getty Images Volatility is back on Wall Street. The average daily point range of the Dow Jones Industrial Average so far this month is about 482 points, which is more than double the average daily range from

Warren Buffett Bloomberg | Getty Warren Buffett’s Berkshire Hathaway has been loading up on shares of Amazon. Berkshire upped its stake in the e-commerce giant by 11%, the Omaha, Nebraska-based holding company revealed in a government filing Wednesday. Berkshire now owns 537,300 shares of Amazon, worth $947 million. The holdings are as of the end

Traders work on the floor at the New York Stock Exchange, August 13, 2019. Eduardo Munoz | Reuters The stock market has done something so unusual this week that it has only happened 19 times in the past 30 years, and the strange pattern could be an ominous sign if history is any guide. The

My new Apple Card Todd Haselton | CNBC Goldman Sachs may get stung by rising loan losses on the Apple Card in the next economic downturn, according to Nomura analysts. The much-hyped credit card, which Goldman began to make available last week, has no fees, the industry’s lowest interest rate range for comparable cards, and

If low inflation, a wobbly economy and tariff jitters weren’t enough to push the Federal Reserve to lower interest rates, there’s also the simple reason of the swelling national debt. The recent debt deal struck between the White House and Congress virtually guarantees trillion-dollar deficits well into the future as well as continued acceleration of

Alan Greenspan Anjali Sundaram | CNBC Former Federal Reserve Chairman Alan Greenspan said nothing is stopping the U.S. from getting sucked into the global trend of negative yielding debt, Bloomberg reported Tuesday. “There is international arbitrage going on in the bond market that is helping drive long-term Treasury yields lower,” Greenspan said in a phone

Walmart, Macy’s and J.C. Penney are among the retailers set to report their second-quarter earnings this week. But with the burden of the trade war, many investors are skeptical. President Donald Trump’s announcement that the U.S. is putting 10% tariffs on an additional $300 billion worth of Chinese goods, effective Sept. 1, could hammer the

Farmers hand pick sweet corn on in Olathe, Colorado. Helen H. Richardson | The Denver Post | Getty Images The U.S. corn harvest will be bigger than previously forecast, the U.S. Agriculture Department said on Monday, as the government issued a surprise boost to its yield estimate despite ongoing concerns in the country about a

Panoramic Images | Getty Images Many global investors are turning toward Silicon Valley instead of Wall Street in search of returns. The total invested in private markets hit all-time highs last year and continues to break multi-decade records this year. In the first half of the year, total investments in venture capital hit a 19-year

The Roku IPO at the Nasdaq, September 28, 2017. Source: Nasdaq Here are the biggest calls on Wall Street on Monday: Needham raised its price target on Roku to $150 from $120 Needham said Roku’s “value proposition” among advertisers is “growing.” “Key take-aways from this report include: a) given similar valuations, we prefer Roku to

President Donald Trump meets with China’s President Xi Jinping at the start of their bilateral meeting at the G20 leaders summit in Osaka, Japan, June 29, 2019. Kevin Lemarque | Reuters The U.S.-China trade war is going to have a larger impact on growth than Goldman Sachs originally estimated. The firm lowered its fourth-quarter growth

Getty Images Investment giant BlackRock just became the largest stakeholder of Sports Illustrated’s parent company. BlackRock bought roughly a 30% stake in Authentic Brands Group for $875 million, the company’s chief executive officer Jamie Salter CNBC’s Brian Sullivan in a phone interview on Sunday. The deal values the brand management company around $4 billion to

Patrick T. Fallon | Bloomberg | Getty Images; Lindsey Wasson | Reuters Boeing investors face more questions than answers as its 737 Max crisis drags on, but the company could find a way forward by turning to an unlikely example: Chipotle Mexican Grill. Chipotle shares were on an incredible run from the company’s IPO to