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  • AutoNation CEO Mike Jackson took aim at Tesla on Tuesday, saying the company’s market cap surpassing that of General Motors’ is “inexplicable.” This is despite the fact that Tesla produced only a fraction of the 10 million cars GM made last year. Jackson said Tesla’s valuation fails to recognize that the company can’t seem to turn a profit regularly. “It is underappreciated that gasoline is affordable in the U.S. as far as the eye can see,” he said, saying that should factor into Tesla’s valuati
    AutoNation CEO says Tesla's valuation is 'inexplicable'

  • The rate of U.S. adults without health insurance jumped in the first quarter of 2017, as the Trump administration worked to repeal Obamacare and replace it with its own health-care reform bill. The latest Gallup-Healthways poll found that 11.3 percent of U.S. adults didn’t have health insurance in the first quarter of the year, compared to 10.9 percent of adults uninsured in the third and fourth quarters of 2016. Despite the increase Gallup found in its survey, the rate of adults without insuran
    The number of Americans without health insurance rose in first quarter 2017

  • Some Chinese travelers are shredding their United Airlines credit cards after a video of a man being forcefully removed from an overbooked United flight went viral. The disturbing footage lit up Weibo, the Chinese equivalent of Twitter, where users also called for a boycott of the airline as Chinese state-run media described the man as being of Chinese descent. Under the trending topic #UnitedAirlinesforcespassengeroffplane, users expressed outrage and anger over the incident, and a couple image
    Chinese travelers are shredding United cards after passenger ejection video went viral

  • It’s been difficult for Americans to legally invest in the world’s booming marijuana business but a new online fund will let you do it at the click of a mouse. Canadians are bringing a new meaning to the term “investor high,” with the world’s first marijuana-focused exchange-traded fund opening on the Toronto Stock Exchange. The Horizons Medical Marijuana Life Sciences exchange-traded fund is comprised of 14 stocks, allowing investors to diversify their risk. The fund uses the North American Med
    First pot-focused fund lets Americans legally invest in hot biz

  • For the fourth year in a row, Singapore is the most expensive city in the world. That’s according to the Economist Intelligence Unit’s annual Worldwide Cost of Living survey, newly released for 2017. Each city is then ranked in comparison to New York on the World Cost of Living (WCOL) Index, with New York assigned a score of 100. Other cities earn a relative score, where a one-point increase or decrease equates to a 1% change in the cost of living. Below, check out the 10 most expensive cities i
    These are the 10 most expensive cities in the world

  • Commissioners in a Florida county are so tired of spending money on President Donald Trump’s frequent visits to his Mar-a-Lago resort that some are suggesting a special tax be levied against the property if the federal government doesn’t reimburse its costs. Palm Beach County spends more than $60,000 a day when the president visits, mostly for law enforcement overtime — almost $2 million since January. County Commissioner Dave Kerner has suggested turning Mar-a-Lago into a special taxing distri
    County considers special tax for Trump's Mar-a-Lago visits

  • The weather is still cold in much of the United States, so many Americans have forgotten about the dangers that can accompany warm weather. One such danger is the Zika virus, and while it may not be on many people’s minds just yet, it will be again, when temperatures climb. In the United States more than 5,000 cases were reported between Jan. 1, 2015, and March 1, 2017. One company on the front lines in the Zika war is Oxitec, a biotech company in the U.K. This means the offspring will never rea
    The race is on to stop a Zika virus epidemic in the US

  • Tensions in Venezuela have escalated recently as people flooded the streets protesting the leftist regime of President Nicolas Maduro. In Caracas on Saturday, thousands of anti-Maduro protesters faced off against government forces, who fired tear gas and rubber bullets at them. The encounter took place after the government banned opposition leader Henrique Capriles from running for office for 15 years. Last week, the Venezuelan government was forced to walk back an earlier attempt to strip Venez
    Clashes in Caracas as anti-Maduro protesters take to the streets

  • U.S. small businesses expect stronger revenue this year and many anticipate adding employees, a generally optimistic read that could support job growth in coming months, the New York Fed reported on Tuesday. Steady national job growth and a 4.5 percent unemployment level have convinced Federal Reserve policymakers that the economy is near full employment, or perhaps even slightly beyond it. Though job growth slowed in March, the small business survey is a sign that hiring may continue since smal
    US small businesses expect continued 2017 growth

  • Whole Foods is down more than 2 percent on Tuesday after jumping nearly 10 percent on Monday after activist investor Jana Partners took a nearly 9 percent stake, becoming the second-largest shareholder in the grocery chain. Sources say the activist investor previously shorted Whole Foods in 2014, meaning that the investor borrowed shares and immediately sold them, usually betting on a future decline in price. However, Jana Partners and Whole Foods CEO John Mackey have yet to directly engage in c
    Jana shorted Whole Foods in 2014, has yet to directly communicate with CEO

  • President Donald Trump told a group of chief executives on Tuesday that his administration was reducing regulations and revamping the Wall Street reform law known as Dodd-Frank, which might be eliminated and replaced with “something else.” “We’re going to reduce taxes, we’re going to eliminate wasteful regulations,” Trump said at a meeting attended by corporate leaders and members of his cabinet. But we’re doing a major elimination of the horrendous Dodd-Frank regulations, keeping some obviously
    Trump promises again to revamp Wall Street reform rules

  • Six employees at KPMG have resigned after a U.S. auditor began a probe into a confidential leak of a plan to inspect work completed by the global accounting firm, KPMG said Tuesday. According to a Wall Street Journal report, the five partners included Scott Marcello, who was also head of the branch’s audit practice. “When the PCAOB recently learned that a registered firm had come into possession of confidential PCAOB inspection selection information, the PCAOB immediately commenced an internal i
    Probe into KPMG ethical breach results in 6 resignations, including 5 partners

  • Subsequent videos showed the passenger, believed to be Dao, bloodied from the confrontation on the United Express flight operated by Republic Airways. United was not the only airline having major problems this week, Neeleman said. United shares fell as much as 4 percent in early Tuesday trading before regaining some ground to a drop of 2.5 percent in afternoon trading. Neeleman was being interviewed on CNBC Tuesday shortly after his latest venture, Brazil’s third-largest airline Azul, started tr
    JetBlue's founder on the United fiasco: You won't have to drag people off planes if you offer them enough money

  • United CEO Oscar Munoz claimed the airline company “followed established procedures” when aviation police removed a “disruptive and belligerent” passenger from the plane. The airline, owned by United Continental Holdings, said in a statement that the flight had been overbooked. “Overbooking is a necessity for airlines due to different levels of no show passengers experienced on different routes. In the case of the United Express flight 3411 from Chicago to Louisville on Sunday, four crew members
    Here's the reason United Airlines can kick you off your flight

  • You would think the CEO of United Continental, Oscar Munoz, would recognize the public perception of his industry and he would have had a better plan in place than an “algorithm” to resolve overbooking issues that resulted in a passenger being dragged off of a United flight involuntarily. United and Munoz actually made three crucial mistakes that every executive should remember when dealing with disgruntled customers. It should be clear to United now that anything would have been worth the cost
    It may be time for United to 're-accommodate' CEO Oscar Munoz—commentary

  • Without that, fighting Assad in Syria can easily move from a proxy war with Russia to a real war with our chief adversary. Wall Street appears to be dancing past this global graveyard without so much as a passing thought. If the White House doesn’t screen the movie, I certainly hope someone on Wall Street will. Simultaneous conflicts with Syria (read: Russia) and North Korea (read: China), pose perilous issues for the world, obviously. Commentary by Ron Insana, a CNBC and MSNBC contributor and t
    Syria strike, N. Korea could push Wall Street into bear market

  • Sir Tim Berners-Lee, inventor of the World Wide Web, warned that artificial intelligence could become “masters of the universe,” taking over high-level decision-making at companies, with potentially frightening consequences. Berners-Lee’s comments came at a Global Finance Summit on Monday, according to a TechWorld report. Giving AI actual decision-making authority has huge implications for our economic systems and societal norms, he said. “So when AI starts to make decisions such as who gets a m
    Sir Tim Berners-Lee on artificial intelligence worries

  • Snap shares sank Tuesday after Facebook-owned Instagram rolled out new features, including one that lets users send disappearing photos and videos. Shares of parent company Snapchat were down 2.3 percent Tuesday, trading at $20.48 a share. Text conversations will now appear in the same thread as disappearing videos and photos. Earlier this year, Facebook unveiled clear ripoffs of Snapchat Filters, Snapchat Snaps and Snapchat Stories. The social media giant, which has some 1.86 billion users, has
    Snap shares sink after Instagram presses assault on Snapchat with disappearing messages

  • Twenty-nine percent of these business owners and entrepreneurs are immigrants (if we add companies created by children of these immigrants, the percentage balloons to 61 percent). It is a common misconception that Latino-owned business exist only in Latino neighborhoods, primarily servicing Latinos. The study out of Stanford found that more than half of Latino business owners were millennials, ages 18 to 35, half of which held a four-year degree. We are seeing more Latino students going to colle
    How Trump can fast-track the success of Latinos

  • Neel Kashkari, the chief of the Minneapolis Federal Reserve who was the lone dissenter on the Fed’s rate hike last month, repeated Tuesday his view that there is still slack in the labor market and that inflation is still lower than it should be. “I think in both cases we can do a little bit better,” Kashkari said in a talk at the Minnesota Business Partnership that was otherwise largely focused on ideas for improving education for kids in low-income families.
    Fed's Kashkari sees room for improvement on inflation, jobs


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