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While salaried employees worked if they could, often from home after Hurricane Sandy, many of the poorest New Yorkers faced the prospect of losing days, even a crucial week, of pay on top of the economic ground they have lost since the recession. The New York Times reports.
The CNBC/Portfolio.com Wealth in America Survey finds Americans painting a deeply grim picture of the current state of the economy. Click ahead to learn more.
The travel industry is bracing for a painful holiday season as people scale back their discretionary spending. But that is good news for anyone who has yet to book a winter getaway, with hotels, airlines and cruise operators introducing last-minute deals to entice vacationers, the New York Times reports.
The wealthier the Californian, a study of tax data says, the less likely he or she is to move to avoid taxes aimed at the rich.
There are only a handful of billionaires around the world who are playing in Warren Buffett's league. Mexico's Carlos Slim is one of them. In a very rare on-camera interview with CNBC's Michelle Caruso-Cabrera, Slim talks about Buffett and his two recent multi-billion dollar investments in Goldman Sachs and General Electric.
New data reveal a staggering increase in billionaires’ wealth as a percentage of national income in India to a whopping 22 percent in 2008.
With even the rich feeling financially pinched, businesses are quietly offering discounts on everything from spa services to private jets.
America's richest citizens are feeling optimistic about the economy, especially the future returns in technology, energy, and health care.
Retailers are relying on part-time workers, a trend that has frustrated millions of Americans who want full-time jobs.
In recent years, many retirement experts have been giving the same unwelcome advice: American workers who are not as rich as Warren E. Buffett should retire three or so years later than they had planned — to ensure that they have a large enough nest egg, said the New York Times.
What will the next stage of the downturn be about? It is likely to revolve around the worst slump in worker pay since the Great Depression, says the New York Times.
Americans are taking on more debt than they are shedding, indicating a more resilient recovery is near.
A study of college freshman shows that 86 percent want to be financially well-off -- up more than 10 percent from last year.
Some veteran investors say that the sell-off has gone much too far and stocks are poised to rally powerfully if the downturn is less severe than investors fear.
When Hiroki Takeuchi joined McKinsey & Company in 2008, he had a front-row seat to the upheaval in finance. After the collapse of Lehman Brothers, Mr. Takeuchi, a 26-year-old Oxford graduate, worked with some of the world’s biggest banks trying to figure out how to adjust to new regulations and a changed market. Then he quit, the New York Times reports.
Just weeks after losing his title of "America's Richest Billionaire," Warren Buffett is number one again. Forbes Magazine is out with a September update to its Forbes 400 list of the richest people in the United States. October may be another story.
As Asia Slows, Luxury Watchmakers Count on Elite Buyers
Is this a good time to put all your investments in cash, just for a little while, until things calm down? Almost certainly not.
QTIPs, are often used to guarantee an inheritance to children of an earlier marriage.
During the crisis, so-called smart money seems to be avoiding three categories: index funds, dividend-paying companies and small-caps. On paper, that seems to make perfect sense. In fact, some of these ideas haven’t panned out, says the New York Times.
Advisors focused on Gen X and Y clients are blazing trails, creating new fee and service models to serve this large demographic.
Higher tax burdens have many wealthy Americans taking a greater interest in charitable-giving vehicles that offer tax relief.
Gen X faces retirement planning that will include no pension, a potential Social Security haircut and stagnant wages.