Abigail Disney, the heiress to the world-renowned entertainment firm, has endorsed the proposed wealth tax from Democratic presidential candidate Sen. Elizabeth Warren, slamming the wealthy people that are fighting the policy as “idiots.” Speaking to CNBC’s Karen Tso Thursday, Disney criticized those opposing the proposal to protect their own fortunes. “If you have a billion dollars and (you’re worried you won’t) make a hundred million dollars a year just by sitting on your couch at home, truthf

Haben Girma became the first deafblind graduate of Harvard Law School in 2013 and has gone on to build a career as a disability rights lawyer, author and public speaker. Her biggest piece of advice to young people is to create their own career. Realizing her own talents in advocacy led Girma to study at Harvard Law School, in order to gain the litigation skills to “remove more barriers” for those with disabilities. She applied this mantra to her personal life, learning to dance, surf and rock cl

Britain has defied an order by the United Nations to return control of an overseas territory to the island nation of Mauritius. The UN had given the U.K. six months to hand control of the Chagos Islands — an archipelago in the central Indian Ocean — back to Mauritius, but this deadline has now passed. The government of Mauritius has previously accused Britain of being an “illegal colonial occupier” in the Chagos Archipelago. The island state claims it was forced to hand over the Chagos Islands t

World Chess, the media and online gaming company that broadcasts the World Chess Championships, announced a “hybrid IPO” for 2020 that will see it issue digital tokens before floating shares on the stock market. From Friday, World Chess will make its security tokens available for sale to accredited investors in the U.S. and the EU. The tokens will grant private investors early ownership of the World Chess shares, as they can either be converted to shares following the IPO or privately traded bet

Foreign buyers who want to own a property in England will need to pay more than a U.K. citizen, should the ruling Conservative Party stay in power after December’s general election. The party has revealed its policy of a 3% surcharge to non-U.K. tax residents as part of a bid to take some of the steam out of the property market. “This adds significant amounts of demand to limited supply, inflating house prices and making it harder for people in Britain looking to get a foot on the property ladde

The “two-tier” system introduced by the European Central Bank in September to ease the pressure of low interest rates on banking profits is not working, according to Commerzbank CEO Martin Zielke. Recent data from Pictet Wealth management showed that the exemption would only result in an annual saving of 3.1 billion euros ($3.4 billion) for the entire euro zone banking system. On Thursday, Moody’s downgraded its outlook for the German banking system to “negative” from “stable” as profitability a

Deutsche Bank CEO Christian Sewing has backed European Central Bank (ECB) President Christine Lagarde’s call for fiscal stimulus from euro zone governments. Speaking to CNBC at the European Banking Congress in Frankfurt, Sewing supported the new central bank chief’s position that fiscal policy should look beyond just the “aggregate stance of public spending” and focus on its “composition.” “Sometimes it’s not only about the fiscal stimulus itself, I think we should first look at the composition

“We’re celebrating, we’re happy and this is a big New Year with the new decade,” says Jean Chatzky, personal finance expert and co-founder of HerMoney. But the biggest end-of-year money mistake, she tells CNBC Make It, “is overdoing it during the holidays.” It’s also a common mistake: Nearly half of Americans, 43%, admit that they’re likely to overspend during the holidays, according to a survey from refurbished tech seller Decluttr. To avoid overspending, Chatzky recommends starting by setting

Shares of Uber have plunged more than 30% since the ride-hailing company went public in May, but some analysts believe that 2020 is going to be a different story entirely. On Friday Stifel upgraded Uber to a buy rating saying the stock is “turning the corner,” while SunTrust said it’s their “favorite transportation disruptor of 2020.” SunTrust believes there’s 90% upside ahead for the stock.

It’s not just saving for retirement you need to worry about, but drawing down your money at the right time, too. The IRS requires savers to make withdrawals from their retirement accounts starting at age 70½. The dreaded required minimum distributions, known as RMDs, apply to most individual retirement accounts, as well as work-based accounts such as 401(k) and 403(b) plans. One exception is the Roth IRA, to which after-tax contributions are made. “This break never applies to your IRA, even if y

President Donald Trump delayed announcing a flavored e-cigarette ban because he was “spooked” by the political ramifications, but a plan will likely still be implemented, former FDA Commissioner Scott Gottlieb told CNBC on Friday. “I think that something’s going to get done here,” Gottlieb said in a “Squawk Box” interview. The president and top health officials said in September the administration was readying a ban on flavored e-cigarettes. “I think they were spooked by the politics of this and

Pure Storage, a manufacturer of high-speed storage equipment for data centers, became the latest tech infrastructure provider to issue weak guidance, at least in part because of worsening macroeconomic conditions and the U.S.-China trade war. Pure Storage shares plunged 21% in Friday’s premarket, a day after the company’s fiscal third-quarter earnings report missed analysts’ estimates on its fourth-quarter outlook. In recent weeks, Arista and Cisco, which sell communications equipment, also gave

Jim Cramer: Tesla’s Cybertruck looks like a ‘bit of a bust’Elon Musk unveiled Tesla’s cybertruck on Friday night. CNBC’s “Squawk on the Street” crew discuss.

Watch Tesla unveil its electric pickup, Cybertruck, in a demo gone awry1 Hour AgoElon Musk unveiled Tesla’s first pickup truck, dubbed the Cybertruck, at an event in Los Angeles. An on-stage demo that was supposed to show breakproof glass went wrong. The glass shattered after Tesla’s design lead to threw a metal ball at one of the pickup truck’s armored windows. Production begins in 2021 and the starting price is $39,900.

Nordstrom — Nordstrom shares jumped more than 8% in the premarket after the retailer posted quarterly earnings that easily beat expectations. The company reported a profit of 81 cents a share, while analysts polled by Refinitiv expected earnings per share of 64 cents. That price target implies a 25% upside from Thursday’s close of $184.86. The price target implies a 28.7% upside from Thursday’s close of $69.92. Ross Stores — Ross Stores reported earnings per share of $1.03 on revenue of $3.85 bi

Uber co-founder and director Travis Kalanick’s massive November sell-off of stock in his former company is nearing $1.5 billion. Kalanick has sold a total of $1.456 billion in Uber stock so far. The latest sale leaves the 43-year-old entrepreneur with fewer than 45 million shares in the company. The company’s market value is now about $50 billion, down from nearly $70 billion at the end of its first trading day. Co-founder Garrett Camp has sold about $20 million in shares this month, according t

In an interview with The Associated Press, Barr said his concerns were prompted by the numerous irregularities at the Manhattan jail where Epstein was being held. The attorney general also sought to dampen conspiracy theories by people who have questioned whether Epstein really took his own life, saying the evidence proves Epstein killed himself. He added that he personally reviewed security footage that confirmed that no one entered the area where Epstein was housed on the night he died. The Ju

Energy has been the worst-performing S&P 500 sector in 2019, with over half of the stocks in the Energy Select Sector SPDR Fund (XLE) now more than 20% off their highs and technically in bear market territory. Some strategists are steering clear of the group, while others see the pain as a low-cost opportunity. First, he took a look at the stock of Valero Energy, the world’s biggest independent petroleum-refining company. “Now we’re coming back to retest support. “[The] stock has broken out, it’

The online real estate resource site narrowed down the top 100 most expensive U.S. ZIP codes based on median home sale prices by analyzing transactions for condos, co-ops and single- and two-family homes made between Jan. 1, 2019 and Nov. 5, 2019. In 2019, California contributed 91 of the top 100 most expensive ZIP codes, and all 100 of them fell within just 11 states (with ties, 125 ZIP codes were included in the ranking). When it comes to home prices, San Francisco alone holds 13 of the highes

Stifel said in its upgrade of Uber that the stock’s valuation presents a more “reasonable” entry point among other things. “The ridesharing market (particularly in the U.S.) experienced faster-than-expected competitive rationalization, Uber demonstrated an accelerated path to profitability and set a formal 2021 profitability target, take rates improved, better segment-level disclosure leaves us more constructive on the core Rides fundamentals, management has communicated a willingness to exit lo