Fraud trial against Elizabeth Holmes’ partner at Theranos nears end

Fraud trial against Elizabeth Holmes' partner at Theranos nears end

SAN JOSE, Calif. — In a harshly worded closing argument, prosecutors on Tuesday said former Theranos COO Ramesh “Sunny” Balwani “wasn’t a victim, he was the perpetrators of fraud” in the company’s downfall, while his attorney blasted the government’s case calling it inconsistent . The closing statements capped a three-month-long trial where the government alleged … Read more

401(k) plans may not last long enough in retirement

401(k) plans may not last long enough in retirement

Elena Kurkutova | Istock | Getty Images Older Americans may have a number of different goals with their retirement savings. But usually their main goal is the same: to make it last. Unfortunately, many younger baby boomers and members of subsequent generations who don’t have access to a traditional pension could outlive the funds in … Read more

Millennial millionaires are delaying home, because purchases due to inflation

Millennial millionaires are delaying home, because purchases due to inflation

Millennial millionaires are temporarily shelving major purchases as interest rates and inflation rise, according to CNBC’s Millionaire Survey. Nearly half of millennial millionaires say higher borrowing costs are causing them to delay buying a car, and 44% say higher interest rates have caused them to delay purchasing a home, according to the survey. More than … Read more

Millionaire fear Fed can’t tame inflation and stave off recession

Millionaire fear Fed can't tame inflation and stave off recession

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, US, May 9, 2022. Brendan Mcdermid | Reuters American millionaires are raising cash in response to lingering inflation fears, according to CNBC’s Millionaire Survey. Millionaires surveyed by CNBC ranked inflation as the top risk to both the economy and … Read more

Travel costs are up but travelers aren’t canceling their plans yet

Travel costs are up but travelers aren't canceling their plans yet

Summer travel talk sure isn’t what it used to be. Rather than sun, sand and surf, many travel discussions now center on inflation, rising fuel costs and flight cancellations, a situation which could derail a much-needed 2022 summer travel comeback. Travel conversations on Twitter decreased 75% from April to May, while discussions related to gas … Read more

Staying on track with retirement, near-term goals amid choppy markets

Staying on track with retirement, near-term goals amid choppy markets

Rbkomar | Time | Getty Images Remember better days are coming The best and worst days tend to be clustered together, data from JP Morgan shows. If you sell, you may miss the upside—and that will cost you. “Trying to time the market is likely going to result in you missing out on some really, … Read more

Sheryl Sandberg’s Facebook stock sales total $1.7 billion since 2012

Sheryl Sandberg's Facebook stock sales total $1.7 billion since 2012

Sheryl Sandberg leaves Meta as one of the highest-profile and most successful women in tech — and after more than $1.7 billion in stock sales. Sandberg announced Wednesday that she is stepping down from her role as chief operating officer after 14 years at Meta, formerly known as Facebook. Sandberg will remain on the social … Read more

Capital gains may have triggered more individual taxes for 2021

Capital gains may have triggered more individual taxes for 2021

The US Department of the Treasury building Julia Schmalz | Bloomberg | Getty Images Some investors may be grappling with the sting of higher-than-expected capital gains for 2021 and losses in 2022. But experts say tax-planning opportunities may soften the blow. Individuals paid significantly more taxes this season, and the surge in capital gains in … Read more

A Near-Retiree Wants to Maximize His Social Security. Here’s Some Advice.

A Near-Retiree Wants to Maximize His Social Security.  Here's Some Advice.

Noli Cabantug has spent his career going back and forth between the public and private sectors. Now, at age 58, he’s wondering what his retirement income will look like and what he can do over the next few years to improve it. Mr. Cabantug, a licensed practical nurse who lives in Pomona, Calif., teaches public … Read more

Bel Air mansion flops at auction after being listed at $87.8 million

Bel Air mansion flops at auction after being listed at $87.8 million

An over-the-top modern mansion in Bel Air was listed for $87.8 million for an auction this week. But the highest bid came in just under $45.8 million, according to the home’s seller, dermatologist-turned-developer Alex Khadavi. “Horrible, Horrible, Horrible!” was how Khadavi characterized the auction results to CNBC. He filed for Chapter 11 bankruptcy protection two … Read more