OutFront live Mon. – Fri. 7p ET

John Kerry says Ebola "has the potential to become a scourge like HIV or polio that we will end up fighting - all of us - for decades." Erin Burnett has the latest.
October 9th, 2014
09:21 PM ET

Stocks plummet 335 points in biggest drop of 2014

The Dow Jones Industrial Average lost 335 points on Thursday. It was the biggest point drop of the year for the Dow. The Nasdaq and S&P both sunk 2%.

Extreme turbulence: Stocks suffer steepest drop of 2014

Investors are concerned about economic growth in Europe and what kind of impact a slowdown in those countries could have on the U.S. economy.

Paul Hickey of Bespoke Investment Group is OutFront.


Filed under: Business • Economy • Markets • News
July 14th, 2014
08:41 PM ET

Citi to pay $7B mortgage settlement

Citigroup agreed to pay $7 billion to settle charges that it packaged bad mortgages during the run-up to the financial crisis.

It includes $4 billion in penalties, $2.5 billion in mortgage modifications and other relief to homeowners, and $500 million going to five states and the Federal Deposit Insurance Corp.

The settlement means Citi will be able to avoid a civil suit by the Justice Department and mirrors similar agreements with JPMorgan Chase (JPM) and other lenders in recent years.

While Citi took a $3.8 billion hit because of the deal, which essentially wiped out its earnings for the quarter, it can afford it. Last year, the bank earned $14 billion and had $35 billion of cash on its balance sheet as of June 30.

FULL POST


Filed under: Business • Economy • News
June 13th, 2014
08:08 PM ET

What a terrorist-controlled Iraq could mean for oil prices

The conflict in Iraq is hurting every American already- oil prices rising about 4% this week to a 9-month high.

Iraq has some of the largest oil reserves in the world, and it has actually been pumping out quite a bit of it lately

According to the International Energy Agency, Iraq produced about 3.37 million barrels of oil per day last month. It's not far off from the country's record highs set back in 1979.

Joining us tonight with more on how the Iraqi crisis could hit your wallet is Dan Dicker, an oil trader and president of MercBloc.


Filed under: Economy • International • Iraq • National Security
March 4th, 2014
09:23 PM ET

Pres. Obama takes on Wall Street by planning to close carried interest loophole

President Obama is taking on Wall Street again.

After sending his 2015 fiscal year budget to Congress, President Obama said he planned to close tax loopholes benefiting the rich.

"Closing tax loopholes that, right now, only benefit the well-off and well-connected," Obama said.

Obama has often called on Congress to close tax loopholes including the carried interest loophole, which he promised to close during his first campaign.

The idea of closing this loophole has appeared in President Obama's budgets over and over, but it never makes it to the final draft.

Erin Burnett thinks the carried interest loophole is "one of the most ridiculous tax loopholes in America."

It has netted billions of dollars for a very select few Americans.

It's the loophole that gives loopholes a bad name, and makes arguments of special treatment hold up.

Burnett explains how it works:

OutFront: Democratic Congressman Brad Sherman - he sits on the House Financial Services Committee. He is also a Certified Public Accountant.


Filed under: Economy • News • Politics • Tax Reform
March 3rd, 2014
08:24 PM ET

Crisis in Ukraine sends world financial markets into tailspin

World financial markets fell sharply as the crisis in Ukraine escalated.

The Dow Jones Industrial Average dropped 153 points, oil prices spiked by nearly $2 a barrel and the ruble plunged.

The already weak Russian currency fell as much as 3% versus the U.S. dollar before posting a small recovery. Joining us tonight to talk about why the markets are tumbling is Peter Costa, President of Empire Executions.


Filed under: Economy • International • Russia • Ukraine
« older posts
Follow

Get every new post delivered to your Inbox.

Join 369 other followers