Huawei CEO Ren Zhengfei said in an interview with CNBC the company's business is still strong in China.Technologyread more
The Fed is not likely to make a move on interest rates when it meets this week, but it should clear the way for a rate cut later in the summer.Market Insiderread more
U.S. President Donald Trump officially kicked off his reelection campaign Tuesday at a Florida rally where he exhorted thousands of rollicking supporters to keep advancing his...Politicsread more
Trump's remarks came a day before the Fed was set to announce its next decision on interest rates.Politicsread more
Sen. Josh Hawley, a well-known tech critic, introduced legislation on Wednesday that would remove the immunity big technology companies receive for user-posted content under...Technologyread more
Facebook's new cryptocurrency project, titled Libra and backed by the likes of Visa and Booking Holdings, is being widely embraced by market watchers.Trading Nationread more
Zuckerberg fell out of Glassdoor's top 20 CEO ranking for the first time, although his employee approval rate remains high.Technologyread more
The U.S. and China have imposed tariffs on billions of dollars' worth of one another's goods since the start of 2018.Traderead more
More and more American firms are calling for the Trump administration to resolve its conflict with China.World Economyread more
Adobe expects fiscal third-quarter earnings and revenue that are below what analysts were looking for.Technologyread more
In a tweet, Trump said that he and Xi "had a very good telephone conversation," and that "our respective teams will begin talks prior to our meeting."Politicsread more
Despite a low unemployment rate and increasing wage growth, Americans still aren't saving much. That's according to a new survey from Bankrate.com, which found that 20 percent of Americans don't save any of their annual income at all and even those who do save aren't putting away a lot.
Only 16 percent of survey respondents say that they save more than 15 percent of what they make, which is what experts generally recommend. A quarter of respondents report saving between 6 and 10 percent of their income and 21 percent say they sock away 5 percent or less.
At this rate, many people could be setting themselves up to fall short in retirement, Bankrate warns.
"With a steady, significant share of the working population saving nothing or relatively little, it's virtually guaranteed that they'll be unable to afford a modest emergency expense or finance retirement," says Mark Hamrick, senior economic analyst at Bankrate. "That amounts to a financial fail."
The economy might be prospering now, but that won't last forever: "The party has to stop sometime, and when it does, employers will lay off workers," the study says.
In fact, Bankrate estimates that half of the American population won't be able to maintain their standard of living once they stop working. A report from GoBankingRates found similar results: Over 40 percent of Americans have less than $10,000 saved for when they retire.
What's keeping Americans from saving? "Expenses" was the No. 1 answer of 39 percent of respondents. Another 16 percent say they don't have a "good enough job" to be able to save, which presumably means they aren't earning enough.
"The average American has less than $5,000 in a financial account, a quarter to a fifth of what you should have, and those aged 55 to 64 who have retirement savings only carry $120,000 — which won't last long in the absence of paychecks, " the survey reports.
But saving money for retirement doesn't have to be as hard as it seems. For starters, anyone looking to lower their expenses can consider downsizing their home, trimming their grocery bill or making it a priority to eliminate debt.
Those with the capacity to take on additional work can also bring in extra cash each month by renting out spare rooms, reselling items online or taking on freelance work. Here's how much the most common side hustles pay.
For more money-saving tricks, check out:
Like this story? Like CNBC Make It on Facebook!