Category: Financial & Investment Tips
A New York prosecutor that Wall Street can’t stand just resigned — here’s who could take his spot
Speculation has shifted to who will replace New York State Department of Financial Services Superintendent Benjamin Lawsky, who is leaving the position to launch a legal and consulting firm. Lawsky took the reins for DFS four years ago after Gov. Andrew Cuomo appointed him to the agency after its creation. In the time since, he’s racked up billions in fines for DFS and spooked plenty of dealmakers on Wall Street. Business Insider reached out to the Department of Financial Services, which didn’t comment. It’s not clear when Lawsky will relinquish his role at DFS, but that’s not stopping tongues on Wall Street from wagging. Both lawyers and dealmakers expressed a range of emotions and ideas when Business Insider to discuss the second-ever DFS superintendent. This is
The New York Times published a shocking proposal to solve America’s huge prison problem
Two heavyweights in the fight for prison reform have proposed a controversial way to slash the number of people behind bars in the US: give violent offenders shorter sentences. In an op-ed for The New York Times, Marc Mauer, executive director of the Sentencing Project, and David Cole, a professor of law and public policy at Georgetown University, write that many liberals and conservatives alike acknowledge the US criminal justice system needs reform. But for the debate to move beyond “symbolic sound bites,” they write, tangible changes need to happen. Among their ideas, Mauer and Cole would cut sentences for violent crimes in half. They write: Studies have found that longer sentences do not have appreciably greater deterrent effects; many serious crimes are committed by
Rand Paul and Bobby Jindal spent the day fighting over ISIS
Sen. Rand Paul’s (R-Kentucky) presidential campaign fired back on Wednesday after one of his potential 2016 rivals fiercely attacked him. Louisiana Gov. Bobby Jindal (R) criticized Paul’s foreign policy statements in a 6-tweet tweetstorm earlier in the day. Doug Stafford, a senior Paul campaign adviser, responded by noting Jindal “cratered his own state’s economy.” In the statement issued to Business Insider, Stafford also accused Jindal of flip-flopping on various issues, including his support for Paul’s policy positions. “It’s ironic Gov Jindal would level such a charge when he flip-flops on crucial issues like common core and national security, and he has cratered his own state’s economy and budget. Just last week, Gov. Jindal spoke out in support of Sen. Paul and announced he now
Money Management 101: Why You Should Track Your Spending
Are you literally eating through your income? Nearly half of Americans who live paycheck-to-paycheck cite dining and entertainment as the root of their financial problems. Track your spending to face your financial demons once and for all. Photo: Eka Shoniya Do you ever wonder why you run out of money by the end of the month? Do you earn plenty but still live paycheck to paycheck? Do you ever look at your savings and think you could be doing better? If you answered ‘yes’ to any of these questions, you’re not alone. In fact, a recent poll from SunTrust Bank showed that many Americans – even those with high incomes – are in the same boat. Strangely enough, hard times aren’t necessarily the culprit for
Market Wrap: Wall Street Heads Higher; Nasdaq Sets Record
Filed under: Technology, Market News, European Union, Healthcare Industry, World Markets Desiree Navarro/WireImage via Getty Images2015 Indianapolis 500 Winner Juan Pablo Montoya, third from left, rings the opening bell Wednesday at New York Stock Exchange. By Noel Randewich NEW YORK — U.S. stocks ended sharply higher Wednesday and the Nasdaq logged a record high close, led by a rebound in technology and health care stocks and optimism that Greece would avoid defaulting on its debt. Reports that Athens and its creditors were near a deal pushed the euro higher against the dollar, partly reversing recent moves. EU officials, however, dismissed Greek claims an aid agreement was being drafted. Investors said U.S. stocks were oversold in the previous session, when concerns about Greece and foreign exchange pushed
GM to Offer Android, Apple Systems in Many 2016 Models
Filed under: Company News, General Motors, Automotive Industry, Computer Industry, Mobile Technology APAn iPhone is connected to a 2016 Chevrolet Malibu equipped with Apple CarPlay apps, displayed on the car’s MyLink screen. By TOM KRISHER DETROIT — By the end of the year, nearly every major automaker will begin offering Apple’s CarPlay or Google’s Android Auto, two systems that effectively turn a car’s dashboard screen into a smartphone. General Motors (GM) made the biggest move so far Wednesday, announcing that both systems will be available in seven 2016 Chevrolet models starting in the summer. The Apple system will appear in seven additional Chevy models. Earlier in the week, Hyundai announced the Android system in the Sonata midsize car. Experts say the move to systems devised in Silicon Valley is an
The Problem with ‘Living for Today’ With Your Money
On any given day, you could end up on the wrong end of a moving school bus. So why not live for today and spend your money freely? Photo: b3d_ Yesterday, I was up on top of my garage roof removing some of the cables from our winter decorations. I could have fallen off the roof and died. Today, when I ate breakfast, there was a chance I could have choked on a bite of my scrambled eggs and died. Tomorrow, I could get nailed by a runaway school bus – multiple bus routes run by our house – and die. Given that money really has no use to me after I die – after all, I can’t use it – and given that there
Can Toasting Buns, Searing Burgers Boost McDonald’s Sales?
Filed under: Company News, McDonald’s, Food & Beverage, Restaurants Alamy NEW YORK — McDonald’s is tweaking how it cooks it burgers in hopes of winning back customers. To improve the taste of its food, the chain is toasting its buns longer so sandwiches will be warmer, said McDonald’s CEO Steve Easterbrook at the Bernstein’s Strategic Decisions Conference in New York. He also said the company is changing the way it sears and grills its beef so that the patties are juicier. “It’s these little things that add up to big differences for our customers,” he said. Easterbrook, who stepped into his role March 1, said the changes are part of the company’s recommitment to “tastier food across the menu.” The remarks come after Easterbrook laid out the
Why Hacking Is Taking Place Even Aboard Flights
Filed under: Identity Theft, Travel, Consumer Protection, Mobile Technology Getty Images By Ellen Chang NEW YORK — Hacking is becoming more commonplace, and your data isn’t safer 30,000 miles up on in the air. While surfing, shopping or sending emails aboard a flight is becoming more popular and is convenient as more airlines are adding Wi-Fi, your connection is just as insecure as hanging out in your local coffee shop. Here are some common tips to avoid being hacked at the airport or during your flight. If you are going to connect to a free wireless network, check to see if it is a secure, trusted hotspot operated by a known organization such a JetBlue (JBLU), said Sergio Galindo, a general manager of GFI Software, a Durham, North
Ford Recalls Nearly 423,000 Cars for Power Steering Problem
Filed under: Company News, Automotive Industry, Ford, Consumer Protection, Auto Recalls Bill Sikes/AP DETROIT — Under pressure from U.S. safety regulators, Ford is recalling nearly 423,000 cars and SUVs in North America because the power-assisted steering can fail while they’re being driven. The recall covers certain Ford Flex and Taurus vehicles, as well as the Lincoln MKS and MKT from the 2011 through 2013 model years. Also covered are the Ford Fusion and Lincoln MKZ from 2011 through 2012 and some 2011 Mercury Milans. Ford says an intermittent electrical connection can cause the power steering to stop. That sends the steering into manual mode, making the vehicles harder to control. The company says it knows of four crashes due to the problem but no injuries. Boot.getJS({ src:’http://api.dailyfinance.
Get Ready for ‘Buy’ Buttons on Google Searches
Filed under: Technology, Google, Shopping, Advertising & Marketing, Internet Marcio Jose Sanchez/AP Google (GOOG) is apparently gearing up to populate product searches made on mobile devices with “buy” buttons. The Wall Street Journal reported this month that the new graphical buttons would be available to advertisers, helping them stand out even more on Google’s popular search engine. This would be a controversial move if consumers weren’t already inundated with “buy” buttons on leading e-commerce sites including Amazon.com (AMZN) and eBay (EBAY). Google going this route, particularly on smartphones and tablets, where advertisers have been reluctant to pay as much as they do to reach Google users on PCs, makes a lot of sense. Consumers will just have to be smart enough to realize that
