An exceptional decline in imports to the United States helped keep GDP growth north of 1% in the fourth quarter of last year. That decline in imports, in turn, had an outsized impact on how the broader net exports segment contributed to the headline GDP number in the fourth quarter. Net exports accounted for a positive 1.48 percentage points of the 2.1% GDP gain, its largest contribution to quarterly GDP growth since 2009. In fact, of that 1.48 percentage-point net export contribution to real GD

The founder of an exclusive investment club for the ultra wealthy told CNBC on Thursday that his members are sitting on piles of cash to protect against an economic downturn. Michael Sonnenfeldt, the founder and chairman of Tiger 21, said on “Squawk on the Street” that members of his club have about 12% of their portfolios in cash. The upcoming presidential election and the widening coronavirus outbreak are two areas of concern for club members, he said. Billionaire Bridgewater Associates founde

Here’s how this millennial couple lived frugally and paid off their $300K debt in only three yearsBernadette Joy Maulion, a blogger and YouTube personality, discusses how she used multiple streams of income — from garage sales to ride sharing — and a frugal lifestyle to pay her $300,000 debt.

Looking over her student loan balance, she realized she was graduating with some $72,000 in education debt. Combined with two mortgages for homes she and her husband had purchased in the hopes of flipping, Maulion was looking at $300,000 in debt and no clear plan to pay if off. “I went from zero debt to $300,000 of debt in a very short amount of time,” Maulion tells CNBC Make It. But the now-34-year-old quickly transitioned from feeling bad to feeling determined to change her life. She and her h

The highest-paid player in this year’s Super Bowl is 49ers quarterback Jimmy Garoppolo, whose average annual salary is an astounding $27.5 million. Chiefs defensive end Frank Clark is the Super Bowler earning the highest average salary this year after Garoppolo, at $20.8 million, per Spotrac. The 28-year-old Garoppolo signed a record five-year, $137.5 million contract with the 49ers in 2018, with $74 million guaranteed (unlike other professional sports leagues, NFL contracts are not fully guaran

But in the beginning, “I really didn’t want to be CEO” of Tesla, Musk said in a recent episode of the Third Row Tesla podcast. So AC Propulsion CEO Gage suggested Musk speak with electric car start-up Tesla Motors, which was also looking to commercialize the tzero. “They made me choose who was going to be CEO, because I really didn’t want to be CEO,” Musk said on the podcast. “There was no discussion about anyone other than Martin being the CEO,” Wright said. “[We] really just jammed” electric c

Annie Murphy had $3 in her bank account when she was called to audition for the role as Alexis Rose, the diva daughter of the socialite-turned-bankrupt family at the center of “Schitt’s Creek,” she says. She hadn’t worked in nearly two years and had just blown a previous audition, Murphy explained on “The Kelly Clarkson Show.” “Thank God she was a successful actress who had other things to do,” Murphy told Marie Claire. “Schitt’s Creek” also launched Murphy to comedic stardom. And now that the s

Drew Brees’ resume is impressive: He has a 2010 Super Bowl ring, he surpassed Hall-of-Famer Brett Favre in most career completions and he is the third highest-paid NFL players ever. “The advice I would give to my younger self is [to] focus on the process and the result will take care of itself,” Brees tells CNBC Make It. Brees was the driving force in the New Orleans Saints’ 2010 Super Bowl win. When Brees joined the team in 2006 after his shoulder surgery, the Saints’ were coming off a 3-13 sea

Garrett Ramela in National Harbor. A former Marine, Ramela poses with military statues in National Harbor. He owns three properties: a house in Pittsburgh; a one-bedroom condo in Alexandria, Virginia; and a two-bedroom apartment in National Harbor, where he currently lives. His roommate gives him another $1,000 a month for his room in the National Harbor apartment. “He’s able to put $5,000 a month toward paying down that debt,” Boneparth says.

For retirees on Medicare who head back to work, the move could provide the option of employer-based health insurance. Yet before you drop parts of Medicare with the idea of picking them up down the road, be aware that there could be snags. “The process is straightforward, but there are a few consequences people should be aware of,” said Medicare expert Patricia Barry, author of “Medicare for Dummies.” Most retirees pay no premiums for Medicare Part A, which provides hospital coverage. Meanwhile,

Americans may soon be able to withdraw cash from ATMs around the country using only their phones. Mastercard and a technology partner, Pin4, have been rolling out a service over the past several months called Mastercard Cash Pick-Up, which gives anyone with a cell phone fast access to cash. Users receive a text message with an order amount, secret code and link showing the nearest ATM from which they can withdraw money — up to $500 per order and $3,000 a day. Other banks may allow their customer

Nearly 100 million people will watch the San Francisco 49ers face off against the Kansas City Chiefs in the Super Bowl. However, there are only a few days left to score a deal on a new TV to view the big game (not to mention the commercials). Historically, prices on TVs near their lowest point right before Super Bowl Sunday. Here are some of the top picks:And don’t worry if you are a little late to the party, Bonebright said. Prices could be even lower come March, when the newest TVs are discoun

Many workers don’t have access to retirement savings programs. Both efforts come at a time when many individuals’ retirement savings are woefully low. Working households with access to 401(k) plans typically have accumulated $111,000 retirement savings by ages 55 to 64, according to the Center for Retirement Research at Boston College. Lack of access to retirement savings plans is one of the biggest reasons those savings fall short, the center found. Meanwhile, state auto-IRAs provide a way to a

House Democrats and defense lawyers face their final day of questioning Thursday in President Donald Trump’s impeachment trial, before the Senate holds a crucial vote on whether to consider new witnesses and documents. ET, senators will have approximately eight hours to submit questions in writing to Chief Justice John Roberts, who is presiding over the trial. Read more: Trump impeachment trial: Senators seek answers on John Bolton, Ukraine aid timing and the president’s motivesOn Wednesday, Hou

People participate in a protest in Times Square against military conflict with Iran on January 08, 2020 in New York. The Democratic-led House of Representatives voted on Thursday to approve two measures that will constrain President Donald Trump’s ability to go to war with Iran. One of the measures would block funding for any use of offensive military force in or against Iran without congressional approval. Democrats, wary of getting bogged down in a new Middle East conflict, have sought to requ

“It’s like when Netflix turned and when Amazon turned,” Cramer said. Musk is the “real deal,” and “that was a magnificent quarter, truly magnificent,” he added. Earlier in the week, Cramer had warned investors that Tesla shares could drop significantly if the company were to miss estimates with earnings. Instead, I think it makes more sense to think of them as a tech company,” Cramer said at the time on “Mad Money.” In December, Cramer declared that he had gone from an “agnostic skeptic” to an ”

Uber and DoorDash explored the possibility of a merger last year, but ultimately the discussions did not result in a deal, the Financial Times reported Thursday. Uber shares dropped slightly after the FT published its report. SoftBank urged Uber and DoorDash to discuss a potential merger, the FT reported, citing sources familiar with the discussions. Uber Eats has struggled to become profitable, despite seeing double-digit revenue growth year over year in Uber’s most recent earnings report. The

Alto Pharmacy has raised $250 million from investors including SoftBank’s second Vision Fund, three people familiar with the matter told CNBC. The investment has already been approved by the Vision Fund’s investment committee, meaning it’s a done deal, the sources said. SoftBank’s Vision Fund has already done just over half a dozen deals in the health and life sciences sector, including 10x Genomics, which subsequently went public, and employer health-focused Collective Health. SoftBank said in

Those up for an Oscar are set to receive a generous swag bag full of unusual gifts — regardless of whether they actually end up winning an Academy Award. Oscar-nominated celebrities concerned about security, keen on cosmetic treatments or fans of cannabis will be rewarded this year as the bags include a voucher for a bullet-resistant door, free Botox and fillers, and a gold-plated vape pen. The Hollowtips pen boasts “THC water clear distillate,” which refers to a refined version of the psychoact

UPS Chairman and CEO David Abney told CNBC on Thursday that he’s not concerned about Amazon’s status as both a friend and foe of the logistics giant. Big-time logistics companies such as UPS are in a precarious situation with Amazon as the e-commerce giant builds out its own delivery business. Amazon represents about 12% of UPS’ revenues, according to CNBC’s Frank Holland, and Abney noted the two companies’ relationship grew, on a percentage basis, in the last year. “We’ve got a mutually benefic