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Bill Gross's exit could cost Pimco over $260 billion, bank saysPimco (PIMCO) could suffer $266 billion in outflows as a result of star manager Bill Gross's exit from the company, according to an estimate from Deutsche Bank. Bill Gross announced last week that he is leaving Pimco for rival firm Janus.
Is student debt preventing 414,000 home sales?New study estimates that some 414,000 home purchases won't happen this year because potential buyers are carrying so much student debt. Student loans have surged from about $300 billion in 2004 to some $1.1 trillion a decade later.
Seven smart money habits for college freshmenYour freshman year can be a whirlwind of activity. But make some time for one more lesson: how to form smart money habits.聽Here are seven tips on聽how to be savvy with your money and maximize the financial potential of your college years.
Forbes 400: Bill, Warren, and the richest Americans are $270 billion richerForbes' annual list of the 400 richest Americans, released Monday, held a combined net worth of $2.29 trillion, up $270 billion from a year ago. Bill Gates topped the Forbes 400 for the 21st straight year, followed by Warren Buffett and Larry Ellison.聽
The richest get richer, but that's not growing American businessAmerica鈥檚 wealthy are richer than they鈥檝e ever been, and big corporations are sitting on more cash they know what to do with.聽But the wealthy aren鈥檛 investing in new companies.
Consumer spending and personal income speed up in AugustConsumer spending and personal income grew in August, a positive sign for the US economy which appears to have shifted into a higher gear. Consumer聽spending聽rose 0.5 percent last month after being unchanged in July, and personal income ticked up 0.3 percent.聽
Bill Gross out at Pimco. So who's the next bond king?The Pimco founder's departure leaves a void as to who will replace the legendary 'bond king.'聽Daniel Ivascyn appears to be front-runner to take over at Pimco.
National Coffee Day is here. Where to find a free cup.National Coffee Day is Sept. 29, and a host of stores聽are promoting fair trade brews while offering free cups of Joe and some big discounts on the good stuff. Read on for the best offers on tap for National Coffee Day.聽
Chrysler recalls 2008 models including Dodge Charger, Jeep Grand Cherokee, and othersChrysler has issued a recall for 2008 models of the Dodge Charger, Dodge Magnum, Chrysler 300, Jeep Commander, and Jeep Grand Cherokee that may have an ignition switch problem.聽Chrysler says that on some 2008 vehicles, the ignition key may not properly return to the "on" position after starting.聽
Seven tools to prepare your home and garden for fallFall is the perfect time to work outside the house, so it's time to make sure you're equipped to deal with those upcoming chores. Read on for all you need to get the job done this fall. 聽
Iowa shakes fist, tells Tesla to get off its propertyIowa has told Tesla to hit the road 鈥� and not in the good way. The Iowa Department of Transportation cut short a聽planned series of test drives in West Des Moines earlier this month.
Ford Mustang 2015 EcoBoost: Hear the roar of the chipThe Mustang EcoBoost sports a sound generator, which enhances the tones of the engine. Other versions of the Mustang, including the V-6 and GT, 聽
Halloween shopping? The best early deals on costumes, candy, and more.Halloween coupons and discounts are already starting to pop up, even though October is still days away. Read on to see the best early Halloween deals聽from the Disney Store, Pottery Barn Kids, Spirit Halloween, and more.聽
Can Playstation TV compete with Apple TV?Sony is slated to release its PlayStation TV next month. Especially for gamers, the Playstation TV could be a viable alternative to Apple TV.聽
Southwest Airlines experiments with renewable jet fuel from forest wasteThe use of biofuel in aircraft may be really starting to take off.聽Southwest Airlines is the latest carrier to experiment with renewable jet fuel, recently signing an agreement with Red Rock Biofuels to purchase low-carbon fuel made from forest residue.聽
Ford recalls 850,000 vehicles with airbag defects. Is yours on the list?Ford will recall about聽850,000 cars and SUVs because of a problem that could stop the air bags from working in a crash. The聽models in the Ford recall include the 2013-14聽Ford聽C-Max compact, Fusion midsize, Escape SUV and the Lincoln MKZ luxury car, all sold in North America.
Bill Gross, the 'Bond King', jumps from Pimco to JanusBill Gross, one of the bond market's most renowned investors, is leaving the investment firm he founded and with which his name has been effectively synonymous, for rival firm Janus Capital Group. The announcement comes days after news broke that US regulators were investigating聽Pimco聽and Gross.
US GDP grew at 4.6 percent from April to June, more than previously thoughtThe US economy grew at a 4.6 percent annualized pace from April to June of this year, more than economists had previously estimated. It was the fastest growth rate since the fourth quarter of 2011 and further reassurance that the economy has rallied back nicely from an early stumble.
Why the US dollar is at a four-year highThe US聽dollar聽is on track for its 11th successive weekly rise, something it has not achieved in four decades.聽The聽dollar聽has been driven higher by the divergent monetary policy outlooks between a rate-hike-contemplating Fed and an ECB and Bank of Japan聽that are mulling further stimulus.
Apple takes a bite out of the market, but dollar hits four-year highThe S&P 500 index dropped 1.6 percent to close at 1,966. The聽Dow聽slumped 1.5 percent to close at 16,946. The Nasdaq composite, which is dominated by tech stocks, plunged 1.9 percent to 4,467. It was the worst day for all three indexes since July 31.
