Nearly half of global CFOs expect either a no-deal Brexit — or simply don’t know what to think

Chief financial officers (CFOs) from some of the world’s largest firms are unsure whether the U.K. will be thrust into the unknown post-Brexit, according to a new survey conducted by CNBC. The results of the survey come at a time when U.K. Prime Minister Theresa May is fighting for her political survival, after the government’s draft divorce deal with the EU prompted a flurry of cabinet ministers to resign. May is currently trying to rally enough lawmakers to back the proposed plan in order to g


Chief financial officers (CFOs) from some of the world’s largest firms are unsure whether the U.K. will be thrust into the unknown post-Brexit, according to a new survey conducted by CNBC. The results of the survey come at a time when U.K. Prime Minister Theresa May is fighting for her political survival, after the government’s draft divorce deal with the EU prompted a flurry of cabinet ministers to resign. May is currently trying to rally enough lawmakers to back the proposed plan in order to g
Nearly half of global CFOs expect either a no-deal Brexit — or simply don’t know what to think Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-20  Authors: sam meredith, daniel leal-olivas, afp, getty images
Keywords: news, cnbc, companies, deal, simply, think, know, half, dont, weeks, worlds, unsure, nearly, global, expect, cfos, survey, uk, nodeal, eu, parliament, wide


Nearly half of global CFOs expect either a no-deal Brexit — or simply don't know what to think

Chief financial officers (CFOs) from some of the world’s largest firms are unsure whether the U.K. will be thrust into the unknown post-Brexit, according to a new survey conducted by CNBC.

The results of the survey come at a time when U.K. Prime Minister Theresa May is fighting for her political survival, after the government’s draft divorce deal with the EU prompted a flurry of cabinet ministers to resign.

May is currently trying to rally enough lawmakers to back the proposed plan in order to get it through Parliament next month – a daunting task given the broad criticism it has received.

Global CFOs across a wide range of industries were asked whether they expected Parliament to approve a formal Brexit deal with the EU over the coming weeks.


Company: cnbc, Activity: cnbc, Date: 2018-11-20  Authors: sam meredith, daniel leal-olivas, afp, getty images
Keywords: news, cnbc, companies, deal, simply, think, know, half, dont, weeks, worlds, unsure, nearly, global, expect, cfos, survey, uk, nodeal, eu, parliament, wide


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Wall Street’s crypto bull Tom Lee slashes year-end bitcoin price forecast nearly in half

Wall Street’s best-known cryptocurrency bull just cut his bitcoin price target nearly in half. A key driver was bitcoin’s “break-even” point, the level at which mining costs match the trading price. Much of that price movement was driven by “crypto-specific” events including the contentious argument over bitcoin cash, Lee said. The digital currency split into two versions — “Bitcoin ABC,” or core Bitcoin Cash, and “Bitcoin SV,” short for “Satoshi’s Vision.” Bitcoin Cash itself is a result of a


Wall Street’s best-known cryptocurrency bull just cut his bitcoin price target nearly in half. A key driver was bitcoin’s “break-even” point, the level at which mining costs match the trading price. Much of that price movement was driven by “crypto-specific” events including the contentious argument over bitcoin cash, Lee said. The digital currency split into two versions — “Bitcoin ABC,” or core Bitcoin Cash, and “Bitcoin SV,” short for “Satoshi’s Vision.” Bitcoin Cash itself is a result of a
Wall Street’s crypto bull Tom Lee slashes year-end bitcoin price forecast nearly in half Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-16  Authors: kate rooney, scott mlyn
Keywords: news, cnbc, companies, tom, forecast, target, trading, streets, cash, nearly, mining, wall, slashes, yearend, price, bitcoin, week, half, lee, level, cryptocurrency


Wall Street's crypto bull Tom Lee slashes year-end bitcoin price forecast nearly in half

Wall Street’s best-known cryptocurrency bull just cut his bitcoin price target nearly in half.

Tom Lee, co-founder of Fundstrat Global Advisors, lowered his year-end target to $15,000 from $25,000 — still well above where the cryptocurrency was trading on Friday.

A key driver was bitcoin’s “break-even” point, the level at which mining costs match the trading price. That level is down to $7,000 from an earlier estimate of $8,000 for the S9 mining machine by Bitmain, according to Fundstrat’s data science team. Based on that, Lee estimates that fair value for bitcoin would be roughly 2.2 times the new $7,000 break-even price.

Bitcoin is trading well below that, near $5,539 on Friday, according to data from CoinDesk. This week, the majority of major cryptocurrencies saw double-digit downward swings, and bitcoin hit its lowest level of the year.

But Lee is betting on a recovery. He told clients in a note Friday that even in the depths of a previous bitcoin bear market between 2013 and 2015, it “never sustained a move below breakeven.”

“While bitcoin broke below that psychologically important $6,000, this has lead to a renewed wave of pessimism,” said Lee, J. P. Morgan’s former chief equity strategist. “But we believe the negative swing in sentiment is much worse than the fundamental implications.”

Much of that price movement was driven by “crypto-specific” events including the contentious argument over bitcoin cash, Lee said. This week, the cryptocurrency community sparred on Twitter over what’s known as a “hard fork” of bitcoin cash. The digital currency split into two versions — “Bitcoin ABC,” or core Bitcoin Cash, and “Bitcoin SV,” short for “Satoshi’s Vision.” Bitcoin Cash itself is a result of a fork from bitcoin, after a disagreement on the best way to scale a digital currency.

For much of October, bitcoin seemed immune to a sell-off in global financial markets. The cryptocurrency traded comfortably in the $6,400 range before falling off a cliff on Wednesday.

Still, Lee is bullish on more institutional involvement bolstering prices into the end of this year. The launch of ICE, Starbucks and Microsoft-backed Bakkt and Fidelity entering the market is “part of a broader creation of infrastructure necessary for institutional involvement,” he said.


Company: cnbc, Activity: cnbc, Date: 2018-11-16  Authors: kate rooney, scott mlyn
Keywords: news, cnbc, companies, tom, forecast, target, trading, streets, cash, nearly, mining, wall, slashes, yearend, price, bitcoin, week, half, lee, level, cryptocurrency


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Fire-plagued California won’t let insurers ‘cram’ through big rate hikes in 2019: State regulator

Further south in the state, nearly 800 structures were destroyed or damaged in the Woolsey Fire, a blaze in Ventura and LA counties with three confirmed fatalities. Despite the big losses, the insurers won’t be able to immediately pass along the cost to customers since the state has a highly regulated industry. Insurers also have to justify their rate insurance increases to the state insurance regulator but are entitled to make what Jones calls a “modest profit.” “California wildfires are becomi


Further south in the state, nearly 800 structures were destroyed or damaged in the Woolsey Fire, a blaze in Ventura and LA counties with three confirmed fatalities. Despite the big losses, the insurers won’t be able to immediately pass along the cost to customers since the state has a highly regulated industry. Insurers also have to justify their rate insurance increases to the state insurance regulator but are entitled to make what Jones calls a “modest profit.” “California wildfires are becomi
Fire-plagued California won’t let insurers ‘cram’ through big rate hikes in 2019: State regulator Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-16  Authors: jeff daniels, marcus yam, los angeles times, getty images, carolyn cole, frederic j brown, afp
Keywords: news, cnbc, companies, fireplagued, losses, cram, regulatory, hikes, insurers, let, jones, rate, wont, wildfires, insurance, nearly, california, regulator, state


Fire-plagued California won't let insurers 'cram' through big rate hikes in 2019: State regulator

California’s destructive wildfires could pressure home insurers operating in the state, coming as insured losses have the potential to approach around $6.8 billion from the current fires.

More than 9,700 homes have been destroyed in the catastrophic Camp Fire still burning in Northern California and as of Friday evening at least 71 were confirmed dead and more than 1,000 still unaccounted for. Further south in the state, nearly 800 structures were destroyed or damaged in the Woolsey Fire, a blaze in Ventura and LA counties with three confirmed fatalities.

The two big November fires in California follow the state’s expensive fire season in 2017 when insurers were hit by underwriting losses of nearly $13 billion from wildfires and mudslides. Despite the big losses, the insurers won’t be able to immediately pass along the cost to customers since the state has a highly regulated industry.

“They are not permitted to take all the given years losses and cram them into next year’s rates,” California Insurance Commissioner Dave Jones told CNBC in an interview Friday.

A state ordinance limits any immediate rate hikes and instead spreads repayment of property and casualty insurance payouts over the next twenty years. Insurers also have to justify their rate insurance increases to the state insurance regulator but are entitled to make what Jones calls a “modest profit.”

“California wildfires are becoming more commonplace, and regulatory risk is on the rise,” S&P Global Ratings credit analyst Brian Suozzo said in a report this week. “In addition, the tight California regulatory body could make it challenging for insurers to obtain adequate future pricing.”


Company: cnbc, Activity: cnbc, Date: 2018-11-16  Authors: jeff daniels, marcus yam, los angeles times, getty images, carolyn cole, frederic j brown, afp
Keywords: news, cnbc, companies, fireplagued, losses, cram, regulatory, hikes, insurers, let, jones, rate, wont, wildfires, insurance, nearly, california, regulator, state


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These credit cards can keep you in debt longer

Stores offer big discounts on first purchases and months without interest on their credit cards. The average retail card has an interest rate of around 26 percent. That’s a lot higher than the typical credit card rate of around 20 percent. Indeed, Macy’s branded credit card accounted for nearly 40 percent of the store’s profit in 2016. Bruce McClary, vice president of communications at the National Foundation for Credit Counseling, gave an example of how the cards can hit your wallet.


Stores offer big discounts on first purchases and months without interest on their credit cards. The average retail card has an interest rate of around 26 percent. That’s a lot higher than the typical credit card rate of around 20 percent. Indeed, Macy’s branded credit card accounted for nearly 40 percent of the store’s profit in 2016. Bruce McClary, vice president of communications at the National Foundation for Credit Counseling, gave an example of how the cards can hit your wallet.
These credit cards can keep you in debt longer Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: annie nova, getty images
Keywords: news, cnbc, companies, say, cards, debt, big, credit, rate, interest, card, retail, nearly, stores, longer


These credit cards can keep you in debt longer

Stores offer big discounts on first purchases and months without interest on their credit cards.

If you’re not careful, however, you could find yourself with a heap of debt too.

The average retail card has an interest rate of around 26 percent. Some stores — including Zales and Staples — will charge you nearly 30 percent in interest each year, according to CreditCards.com, which recently studied the terms and conditions on dozens of store cards.

That’s a lot higher than the typical credit card rate of around 20 percent.

“They’re big money makers for the retailers,” said Ted Rossman, an industry analyst at CreditCards.com.

Indeed, Macy’s branded credit card accounted for nearly 40 percent of the store’s profit in 2016.

Bruce McClary, vice president of communications at the National Foundation for Credit Counseling, gave an example of how the cards can hit your wallet.

“Let’s say you were to charge $2,000 for a new game system, television and accessories,” he said.

Many retail cards come with an interest-free period, but assume that when it was over you still had a balance of $1,500 and the interest rate kicked in at 25 percent. If you make the minimum payments, you’ll shell out more than $2,800 over eight years. “That’s 1,382.94 in interest,” McClary said.

More from Personal Finance:

Wallet versus waistline: Here’s what consumers packed on this holiday season

If you have debt, avoid this big mistake many borrowers make

Before you pick a new credit card, check to see if it has this fine print

Still, half of Americans say they have applied for a retail card, according to CreditCards.com. Nearly 95 million people impulsively signed up for one at checkout. Store employees are often compensated if they’re able to rack up the number of people who say yes to these cards, Rossman said.

“There can be pressure to sign up for these in the moment,” he said. “Breathe a little and think about it for a few days.”


Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: annie nova, getty images
Keywords: news, cnbc, companies, say, cards, debt, big, credit, rate, interest, card, retail, nearly, stores, longer


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Death toll climbs to 48 in California’s most lethal wildfire disaster

The remains of six more victims were found on Tuesday in and around a northern California town overrun by flames last week, raising the death toll to 48 in a wildfire disaster already ranked as California’s most lethal and destructive in state history. The intensified effort to locate victims came on the sixth day of a blaze that incinerated over 7,000 homes and other buildings, including most of Paradise, a town once home to 27,000 people. Honea had previously said that 228 people were listed a


The remains of six more victims were found on Tuesday in and around a northern California town overrun by flames last week, raising the death toll to 48 in a wildfire disaster already ranked as California’s most lethal and destructive in state history. The intensified effort to locate victims came on the sixth day of a blaze that incinerated over 7,000 homes and other buildings, including most of Paradise, a town once home to 27,000 people. Honea had previously said that 228 people were listed a
Death toll climbs to 48 in California’s most lethal wildfire disaster Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: frederic j brown, afp, getty images
Keywords: news, cnbc, companies, lethal, californias, disaster, flames, listed, structures, toll, death, blaze, foothills, climbs, 48, victims, nearly, paradise, wildfire, town


Death toll climbs to 48 in California's most lethal wildfire disaster

The remains of six more victims were found on Tuesday in and around a northern California town overrun by flames last week, raising the death toll to 48 in a wildfire disaster already ranked as California’s most lethal and destructive in state history.

The latest tally of casualties from the Camp Fire was announced by Butte County Sheriff Kory Honea as forensic teams with cadaver dogs combed through a ghostly landscape strewn with ash and charred debris in Paradise, California, in the Sierra foothills about 175 miles north of San Francisco.

The intensified effort to locate victims came on the sixth day of a blaze that incinerated over 7,000 homes and other buildings, including most of Paradise, a town once home to 27,000 people.

Honea had previously said that 228 people were listed as missing, and his office also was working to determine the fate of nearly 1,300 individuals whose loved ones had requested “well-being checks” on their behalf.

By Tuesday, the killer blaze dubbed the Camp Fire had blackened 125,000 acres of drought-parched scrub, up 8,000 acres from the night before, but crews had carved containment lines around nearly a third of the fire’s expanding perimeter.

More than 50,000 area residents remained under evacuation orders and 15,500 structures were still listed as threatened by the blaze.

However, diminished winds and higher humidity levels allowed crews to make headway against the flames, fire officials said.

The news was likewise more upbeat on the southern end of California’s wildfire front, where a blaze called the Woolsey Fire has killed two people, destroyed over 400 structures and displaced some 200,000 people in the mountains and foothills near the Malibu coast west of Los Angeles.


Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: frederic j brown, afp, getty images
Keywords: news, cnbc, companies, lethal, californias, disaster, flames, listed, structures, toll, death, blaze, foothills, climbs, 48, victims, nearly, paradise, wildfire, town


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Democrat Harley Rouda ousts longtime Republican Rep. Dana Rohrabacher

Democratic candidate and businessman Harley Rouda is the apparent winner in a hotly contested race in California’s historically conservative 48th Congressional District, unseating longtime Republican Rep. Dana Rohrabacher, according to NBC News. Rouda ran a well-financed campaign and saw his support rise in the polls after he and Democrat-backed PAC ads attacked Rohrabacher’s record and his pro-Russia views. In the last few weeks of the campaign, Rohrabacher tried to shift attention away from hi


Democratic candidate and businessman Harley Rouda is the apparent winner in a hotly contested race in California’s historically conservative 48th Congressional District, unseating longtime Republican Rep. Dana Rohrabacher, according to NBC News. Rouda ran a well-financed campaign and saw his support rise in the polls after he and Democrat-backed PAC ads attacked Rohrabacher’s record and his pro-Russia views. In the last few weeks of the campaign, Rohrabacher tried to shift attention away from hi
Democrat Harley Rouda ousts longtime Republican Rep. Dana Rohrabacher Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: jeff daniels, bill clark, cq-roll call group, getty images
Keywords: news, cnbc, companies, weeks, race, rep, harley, republican, longtime, ousts, times, district, dana, rohrabacher, nearly, million, democrat, campaign, russia, rouda


Democrat Harley Rouda ousts longtime Republican Rep. Dana Rohrabacher

Democratic candidate and businessman Harley Rouda is the apparent winner in a hotly contested race in California’s historically conservative 48th Congressional District, unseating longtime Republican Rep. Dana Rohrabacher, according to NBC News.

Rouda ran a well-financed campaign and saw his support rise in the polls after he and Democrat-backed PAC ads attacked Rohrabacher’s record and his pro-Russia views. The 15-term congressman previously defended Russia’s 2014 annexation of Ukraine’s Crimean peninsula and gave Russia a pass on interference in the 2016 presidential election.

In the last few weeks of the campaign, Rohrabacher tried to shift attention away from his ties to Russia by launching an ad casting himself as a health-care advocate and fighter of pre-existing medical conditions. Yet the incumbent was called out by the Rouda campaign for having voted more than a dozen times to get rid of protections from pre-existing conditions under the Affordable Care Act.

Rouda, who supports Medicare for all residents, raised nearly $3.2 million in the third quarter, or about 7 times the amount Rohrabacher collected, according to federal election records. Rouda, a real estate developer and attorney, spent about $1.6 million of his own money on the race and received more than $4 million in donations in the final weeks for ad buys from billionaire Michael Bloomberg, the former New York mayor.

Republicans have a nearly 10 percentage point registration advantage in the district, but there have been changing demographics, and Democratic presidential candidate Hillary Clinton won there by nearly 2 points in 2016. The district runs along the Orange County coastline, from Seal Beach to Laguna Niguel.


Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: jeff daniels, bill clark, cq-roll call group, getty images
Keywords: news, cnbc, companies, weeks, race, rep, harley, republican, longtime, ousts, times, district, dana, rohrabacher, nearly, million, democrat, campaign, russia, rouda


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Shares of Apple suppliers in Asia sink amid worries about iPhone demand

Shares of some major Apple suppliers fell in Asian trading Tuesday — some to multi-year lows — after the iPhone maker’s stock plunged on concerns about customer demand. Lumentum shares dropped nearly 33 percent. The worries about slowing iPhone demand spilled over into shares of Apple suppliers in Tuesday trading in Asia, where most of the companies are based. In Taiwan, Hon Hai Precision, better known as Foxconn, fell more than 2 percent to its lowest in nearly a month. In Japan, Panasonic decl


Shares of some major Apple suppliers fell in Asian trading Tuesday — some to multi-year lows — after the iPhone maker’s stock plunged on concerns about customer demand. Lumentum shares dropped nearly 33 percent. The worries about slowing iPhone demand spilled over into shares of Apple suppliers in Tuesday trading in Asia, where most of the companies are based. In Taiwan, Hon Hai Precision, better known as Foxconn, fell more than 2 percent to its lowest in nearly a month. In Japan, Panasonic decl
Shares of Apple suppliers in Asia sink amid worries about iPhone demand Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: evelyn cheng, source
Keywords: news, cnbc, companies, dropped, iphone, worries, demand, shares, sink, report, asia, fell, amid, lowest, trading, nearly, apple, suppliers


Shares of Apple suppliers in Asia sink amid worries about iPhone demand

Shares of some major Apple suppliers fell in Asian trading Tuesday — some to multi-year lows — after the iPhone maker’s stock plunged on concerns about customer demand.

Apple dropped 5 percent overnight in New York trading after Lumentum, a manufacturer of lasers that can sense in 3-D, said it received a request from one of its largest customers to “materially reduce” shipments to them. Lumentum shares dropped nearly 33 percent. The company did not name Apple in Monday’s report, but previously listed the tech giant as its largest customer in a filing for fiscal year 2018.

Also on Monday, TF International Securities’ Ming-Chi Kuo reversed his view on iPhone XR sales by cutting his outlook for shipments by 30 million units. The reduction followed a Nikkei report earlier this month, citing supply chain sources, that Apple told Foxconn and Pegatron to stop plans for additional iPhone XR-related production lines.

The worries about slowing iPhone demand spilled over into shares of Apple suppliers in Tuesday trading in Asia, where most of the companies are based.

In Taiwan, Hon Hai Precision, better known as Foxconn, fell more than 2 percent to its lowest in nearly a month.

Pegatron briefly fell more than 5 percent to its lowest since May 2014, before recovering losses and trading higher. Largan Precision also temporarily tumbled more than 5 percent to its lowest since July 2016 before reversing and rising more than half a percent.

In Japan, Panasonic declined 2.5 percent and Alps Electric dropped nearly 5.8 percent, both to their lowest since late 2016. Nitto Denko fell more than 4 percent.

Hong Kong-traded AAC Technologies briefly fell more than 7 percent to its lowest in more than two years, before recovering much of its losses.

In Shenzhen, Luxshare fell more than 5 percent to its lowest in a month, while Suzhou Anjie Technology fell more than 1 percent.

The major Asian stock indexes pared opening losses by midday Tuesday.

— CNBC’s Todd Haselton and Lauren Feiner contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: evelyn cheng, source
Keywords: news, cnbc, companies, dropped, iphone, worries, demand, shares, sink, report, asia, fell, amid, lowest, trading, nearly, apple, suppliers


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Apple’s European suppliers got whacked on Monday, but it’s a different story Tuesday

European tech stocks rebounded on Tuesday as hopes of a U.S.-China trade deal outweighed concerns about soft demand for Apple’s iPhones. Europe’s tech sector rose nearly 1 percent after dropping around 4 percent on Monday, as stocks recovered from a U.S. stock sell-off led by Apple. Apple shares dropped 5 percent on Monday after Lumentum, a laser manufacturer that makes 3-D technology for iPhone’s face-recognition function, cut its outlook for next quarter. Shares of Lumentum plummeted nearly 33


European tech stocks rebounded on Tuesday as hopes of a U.S.-China trade deal outweighed concerns about soft demand for Apple’s iPhones. Europe’s tech sector rose nearly 1 percent after dropping around 4 percent on Monday, as stocks recovered from a U.S. stock sell-off led by Apple. Apple shares dropped 5 percent on Monday after Lumentum, a laser manufacturer that makes 3-D technology for iPhone’s face-recognition function, cut its outlook for next quarter. Shares of Lumentum plummeted nearly 33
Apple’s European suppliers got whacked on Monday, but it’s a different story Tuesday Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: elizabeth schulze, david paul morris, bloomberg, getty images
Keywords: news, cnbc, companies, lumentum, shares, suppliers, technology, different, apples, soft, uschina, nearly, european, stock, whacked, stocks, tech, trade


Apple's European suppliers got whacked on Monday, but it's a different story Tuesday

European tech stocks rebounded on Tuesday as hopes of a U.S.-China trade deal outweighed concerns about soft demand for Apple’s iPhones.

Europe’s tech sector rose nearly 1 percent after dropping around 4 percent on Monday, as stocks recovered from a U.S. stock sell-off led by Apple.

Apple shares dropped 5 percent on Monday after Lumentum, a laser manufacturer that makes 3-D technology for iPhone’s face-recognition function, cut its outlook for next quarter. Shares of Lumentum plummeted nearly 33 percent after the company reported a request from one of its biggest customers to “materially reduce” shipments to them. Lumentum did not name Apple in the report but listed the iPhone maker as its largest customer in filing for fiscal year 2018.


Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: elizabeth schulze, david paul morris, bloomberg, getty images
Keywords: news, cnbc, companies, lumentum, shares, suppliers, technology, different, apples, soft, uschina, nearly, european, stock, whacked, stocks, tech, trade


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Most Americans aren’t saving nearly enough for retirement

But all of that requires the kind of nest egg many Americans just don’t have. The majority of those polled said they would like to save $100,000 to $250,000 by the time they reach retirement, according to a new GoBankingRates report. However, in reality, more than half of Americans, or 57 percent, have less than $1,000 in their savings accounts, according to a separate GOBankingRates survey. Another report by the Stanford Center on Longevity found that nearly one-third of baby boomers had no mon


But all of that requires the kind of nest egg many Americans just don’t have. The majority of those polled said they would like to save $100,000 to $250,000 by the time they reach retirement, according to a new GoBankingRates report. However, in reality, more than half of Americans, or 57 percent, have less than $1,000 in their savings accounts, according to a separate GOBankingRates survey. Another report by the Stanford Center on Longevity found that nearly one-third of baby boomers had no mon
Most Americans aren’t saving nearly enough for retirement Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: jessica dickler, peter cade, getty images, -cameron huddleston, life, money columnist for gobankingrates
Keywords: news, cnbc, companies, saving, money, boomers, nest, arent, savings, report, nearly, gobankingrates, egg, million, retirement, long, americans


Most Americans aren't saving nearly enough for retirement

This is how long $1 million will last in retirement 9:11 AM ET Wed, 24 Jan 2018 | 01:20

When it comes to retirement dreams, most people envision a house by the beach or golf course, quality time with family and friends and a chance to see the world.

But all of that requires the kind of nest egg many Americans just don’t have.

The majority of those polled said they would like to save $100,000 to $250,000 by the time they reach retirement, according to a new GoBankingRates report. The personal finance site surveyed more than 1,000 people in September. The survey has a margin of error of 3.1 percentage points.

“That seems like a lot of money but if you think how long retirement is — we’re talking two decades for many people — $100,000 is not going go very far,” said Cameron Huddleston, a life and money columnist for GOBankingRates.

Forty-one percent of workers said they hoped their savings would afford them a vacation home, and a little more than a third said they would like to spend their time with loved ones in their golden years, followed by traveling the world.

However, in reality, more than half of Americans, or 57 percent, have less than $1,000 in their savings accounts, according to a separate GOBankingRates survey.

Another report by the Stanford Center on Longevity found that nearly one-third of baby boomers had no money saved in retirement plans in 2014, when they were on average 58 years old.

Among boomers with positive balances, the median savings was around $200,000.

Experts have said people may need a nest egg of more than $1 million to carry them through a 30-year retirement.

And even that may not be enough.


Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: jessica dickler, peter cade, getty images, -cameron huddleston, life, money columnist for gobankingrates
Keywords: news, cnbc, companies, saving, money, boomers, nest, arent, savings, report, nearly, gobankingrates, egg, million, retirement, long, americans


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HHS updates exercise guidelines, says few Americans follow them

Failing to meet the suggested levels of aerobic physical activity adds nearly $117 billion in annual health-care costs and contributes to 10 percent of all premature mortality, HHS said Monday in announcing its latest guidelines. Most of their time should be spent on aerobic activity but should also include muscle-strengthening and bone-strengthening activities at least three days a week. Physical activity leads to man immediate and long-term health benefits, the agency said in its updated guide


Failing to meet the suggested levels of aerobic physical activity adds nearly $117 billion in annual health-care costs and contributes to 10 percent of all premature mortality, HHS said Monday in announcing its latest guidelines. Most of their time should be spent on aerobic activity but should also include muscle-strengthening and bone-strengthening activities at least three days a week. Physical activity leads to man immediate and long-term health benefits, the agency said in its updated guide
HHS updates exercise guidelines, says few Americans follow them Cached Page below :
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Keywords: news, cnbc, companies, health, adolescents, exercise, follow, guidelines, agency, physical, nearly, costs, aerobic, activity, according, americans, hhs, updates


HHS updates exercise guidelines, says few Americans follow them

Just a fraction of Americans are exercising as much as they’re supposed to, costing the health-care system billions of dollars and contributing to people dying early.

Only 26 percent of men, 19 percent of women and 20 percent of adolescents meet the U.S. Department of Health and Human Services’ exercise recommendations, according to the agency. Failing to meet the suggested levels of aerobic physical activity adds nearly $117 billion in annual health-care costs and contributes to 10 percent of all premature mortality, HHS said Monday in announcing its latest guidelines.

The data highlight the challenges of persuading Americans to become more active. Between 2015 and 2016, about 93.3 million U.S. adults — nearly 40 percent — were considered obese, as were nearly 1 in 5 children and adolescents ages 6 to 19, according to the Centers for Disease Control and Prevention.

Adults need 150 minutes of moderate to vigorous aerobic activity each week and two days of muscle strengthening activities to stay healthy, and children and adolescents ages 6 to 17 need 60 minutes of moderate to vigorous physical activity every day, HHS says. Most of their time should be spent on aerobic activity but should also include muscle-strengthening and bone-strengthening activities at least three days a week.

Physical activity leads to man immediate and long-term health benefits, the agency said in its updated guidelines.

One round of exercise can reduce anxiety and blood pressure, as well as leading to better sleep and improved insulin sensitivity, the agency said. In the long run, physical activity can improve brain health and reduce the risk for eight types of cancer, fall-related injuries in older adults and excessive weight gain, HHS added.

The agency first published activity guidelines in 2008 to help control the U.S. obesity epidemic. In 2008, the medical costs of obesity were estimated at $147 billion, with costs for people who were obese being $1,429 higher than people of normal weight, according to CDC.


Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: angelica lavito, getty images
Keywords: news, cnbc, companies, health, adolescents, exercise, follow, guidelines, agency, physical, nearly, costs, aerobic, activity, according, americans, hhs, updates


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