Akshay Tuteja

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Here’s the now-debunked story of Stuyvesant High’s $72 million kid

<i>Editor’s note: The high-school senior mentioned in this report was later quoted by the New York Observer as saying the story was fabricated. For an</i> …

High School

Strategy To YieldBoost j2 Global From 0.5% To 10.6% Using Options

Shareholders of j2 Global, Inc. (NASD: JCOM) looking to boost their income beyond the stock’s 0.5% annualized dividend yield can sell the March 2015 covered call at the $55 strike and collect the premium based on the $2.05 bid, which annualizes to an additional 10.1% rate of return against the …

Shares rally on earnings, data; bond prices slip | Reuters

NEW YORK (Reuters) - Global equity markets rallied and bond prices eased on Tuesday on solid corporate earnings on both sides of the Atlantic and an upbeat U.S. consumer confidence report that more than made up for weak American housing and industrial data.<p>A man walks past the London Stock Exchange …

Why CVS and Rite Aid are blocking Apple Pay

I drove my iPhone 6 to Walgreens last week to buy a tube of toothpaste.<p>I usually buy that kind of stuff at CVS, which is closer and open 24 hours a …

CVS, Rite Aid disable Apple Pay in drugstores

Apple Inc.'s mobile payment technology ran into a roadblock a week after its introduction after CVS Health Corp. and Rite Aid Corp., part of a consortium developing a competing system, disabled Apple Pay in their drugstores.<p>CVS and Rite Aid are among 220,000 U.S. merchants that have technology in …

Rite Aid

5 reasons oil prices aren't rising

The old oil bull market, the one where oil went to $140 per barrel, now feels like ancient history. Oil prices have recently been challenging lows not seen since 2012. Continuously rising oil prices not only translate to higher prices at the pump but also to higher prices of goods because of the …

End of Fed bond buying may nudge mortgage rates

The Federal Reserve this week is expected to remove one of the two crutches supporting the economy since the 2008 financial crisis, ending bond purchases that have held down long-term interest rates.<p>The anticipated decision to halt so-called quantitative easing at a two-day Fed meeting that begins …

How to pay off $20,000 in credit card debt

Tanya LaPrad's story of dealing with about $20,000 in credit card debt has all the makings of a CNBC show like "Til Debt Do Us Part" or a Suze Orman segment of "Can I Afford It?" where the answer is most definitely, "Denied."<p>But LaPrad, 43, is willing to share bits and pieces of her drama because …

Will Parliamentary Elections Bring Ukraine Its Savior?

<i>Citizen journalist Halyna Klymuk Chomiak has been traveling through Ukraine during this latest election cycle. Here are her impressions.</i><p>There are about 10 parties people are talking about ranging from right wing patriotic types to extreme left communist types with the majority in the middle of the …

Gulf states need to reform spending as oil price slips: Kuwait

KUWAIT (Reuters) - Gulf Arab oil exporters will have to reform their state spending and make cuts in some areas because of weak oil prices, Kuwaiti Finance Minister Anas al-Saleh said on Saturday.<p>“We must undertake comprehensive economic reforms including the reform of imbalances in public …

If Scotland votes for independence: the key questions answered

Would Scotland be in the EU?<p>Yes. Almost certainly. But it will not be as easy or as quick as Scotland’s first minister Alex Salmond and the yes camp say. The issue sits astride a legal conundrum. There is no provision in the EU treaties for a member state of the EU falling apart, with the breakaway …

Tesla Model S now has infinite-mile warranty

Tesla Motors has extended the drive unit warranty of its Model S vehicle to match that of its battery, meaning both components of the all-electric sedan now have eight-year, infinite-mile warranties.<p>The Model S drive unit for the 85kWh model, prior to the warranty extension, came with a four-year, …

14 Brilliant Insights From Legendary Investor Jim Rogers

In 2007, he packed up and moved to Singapore where he is essentially shorting the West.<p>Behind Rogers' quick wit and endless charm are brilliant investing insights he gained during his lengthy and legendary career.<p>We put together 14 of the best insights that every investor will find helpful.

Ex-Microsoft employee sentenced for insider trading

Ex-Microsoft employee Brian Jorgenson was sentenced to two years in prison on Friday for an insider trading scheme that netted him and an accomplice …

The 10-Year Treasury Yield Touches A 14-Month Low

Bonds are rallying. The yield on the 10-year Treasury note touched 2.37% earlier on Friday, the lowest level since June 2013.<p>The world's safe haven asset classes in general have been doing great this week as geopolitical turmoil has the world on edge.<p>"Risk aversion rules," Societe Generale's Kit …

What would a cheap iPhone do for Apple's bottom line?

It is an article of faith among telecom analysts that unless Apple makes a cheap iPhone, it will miss out on the billions of potential customers …

Malaysia Airlines on course for state ownership

Malaysia's state investment company said Friday it wants a "complete overhaul" of struggling carrier Malaysia Airlines.<p>Khazanah Nasional, which owns a majority stake in the carrier, said it wants Malaysia Airlines removed from the stock exchange and that it plans to buy out minority shareholders at …

Futures rise after selloff with earnings in focus

NEW YORK (Reuters) - Stocks closed higher on Monday, lifted in a late rally driven by earnings from Warren Buffett’s Berkshire Hathaway and broad gains across most sectors that helped the S&P 500 rebound from its largest weekly drop since 2012.<p>Traders work on the floor of the New York Stock …

Wall Street banks take heart from leveraged loan exams

NEW YORK (Reuters) - Wall Street banks have found a U.S. review of their junk-rated loans to have yielded similar results to last year, easing some concern among bankers about a crackdown on one of their most lucrative businesses.<p>The Office of the Comptroller of Currency, the Federal Reserve and …

Ukraine worry sparks fall in stocks, bond yields | Reuters

New York (Reuters) - U.S. stocks and bond yields fell on Tuesday after a report indicating escalating tensions in Ukraine sparked fresh concern about the region.<p>Traders work on the floor of the New York Stock Exchange July 17, 2014. REUTERS/Brendan McDermid<p>Wall Street stocks extended losses after a …

GM Financial subpoenaed in subprime auto loan probe

The Justice Department has served a subpoena on GM Financial, General Motors' financial arm, seeking documents on subprime auto loans, Bloomberg News reported.<p>The subpoena covers documents since 2007 involving origination and securitization, GM Financial said in a filing to the Security and …

The Good, The Bad And The Ugly Of Banco Espirito Santo's Resolution Plan

Overnight it was revealed that Banco Espirito Santo (BES) would be resolved and split into a ‘good bank’ and a ‘bad bank’. As I have discussed, it has been circling the drain for the best part of a year now.<p>The details are these:<p>BES will remain as a bad bank housing shareholders and subordinated …

The 10 Most Important Things In The World Right Now

<b>1. Israel pulled most of its ground troops from Gaza on Sunday, though "with Hamas officials vowing to continue their fight, it remains uncertain whether Israel can unilaterally end the war," the Associated Press said.</b> The positive development comes after news that a third U.N. school housing …

Here's Why Tesla Might Need Blowout Earnings To Keep Shares From Tumbling

Shares of Tesla have bounced around quite a bit, and owning the stock is not for the faint of heart. The graph above from ChartIQ Visual Earnings shows the behavior of Tesla stock over the previous 5 quarters. Quarterly earnings report dates marked by the vertical dotted line are clear catalysts …

Green gold: Colo. underestimated pot demand

A study on the Colorado marijuana market is providing economists and business professionals an inside look at the pot industry for the first time. Regulators in the Centennial State have released the brief for the Colorado Department of Revenue, which reveals a number of interesting items, …

The Curious Case Of The Bulgarian Bank Runs

So now we know what lies beneath the recent Bulgarian bank runs. Fraud.<p>The Bulgaria National Bank (BNB) has conducted an audit on the books of both CorpBank and its recently-acquired Credit Agricole-Bulgaria subsidiary. According to BNB the subsidiary is sound, but CorpBank itself is anything …

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New exchange-traded note bets on women, and more banking must-reads