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Generation I.O.U.

îOmid Sanjideh, a graduate student from the University of California, Berkeley, attended the UC Board of Regents meeting in Sacramento, Calif., Wednesday, May 16, 2012. More than a dozen protestors clad in orange and calling themselves prisoners sentenced to debt, disrupted the meeting calling for a crackdown on UC mismanagement of executive pay, tuition hikes and police violence towards students. No arrests were made and the demonstrators left on their own.
  • Business

    Banks are preparing for an ‘economic nuclear winter’

    The first half of 2016 has been a roller-coaster for financial markets. A combination of uncertainties surrounding the U.K.'s vote to leave the European Union and weaker-than-expected corporate earnings results across the region means a tough second half looms. European banks, in particular, have had a very tough six months as the shock and volatility around Brexit sent banking stocks south. Major European banks like Deutsche Bank and Credit Suisse saw their shares in free-fall after the referendum's results were announced. In the U.K., RBS was the worst-hit, with its shares plunging by more than 30 percent since June 24. The current uncertainty around when the U.K. will start the process of

    CNBC.com
  • Business

    Wheels up for China's new aero-engine group

    China officially launched a new multi-billion dollar jet engine conglomerate with almost 100,000 employees at the weekend, as Beijing seeks to become an aerospace power and compete with the likes of Rolls Royce and General Electric. The Aero Engine Corporation of China (AECC) has registered capital of 50 billion yuan ($7.5 billion), and previous reports said it would incorporate subsidiaries of a series of state-owned firms, including the Aviation Industrial Corp. of China (AVIC). President Xi Jinping said founding the company was a "strategic move" to make China an aviation power and modernise the military, the official Xinhua news agency reported.

    AFP
  • Business

    ‘Rich Dad’ author Robert Kiyosaki: If you’re investing for the long term, ‘you’re crazy’

    Robert Kiyosaki, author of several best-selling books including “Rich Dad Poor Dad,” joined MarketWatch for a live interview on Facebook today. He offered up insights on making money, becoming an entrepreneur and even touched on politics. Here are some highlights from the talk, or you can listen to the full interview here. His advice on how to get rich: “The rich do not work for money. Most people do not understand that, because they’re taught to go to school and get a job for money. The rich don’t work for money. And one of the reasons for that is money is no longer money. One of the reasons for that is in 1971, President Nixon took the U.S. Dollar off the gold standard and basically screwed

    MarketWatch
  • Business

    8/28/16 CG: PIT@MIL

    8/28/16 Condensed Game: PIT@MIL

    MLB.com
  • Politics

    Cleaning Up After Trump Talks About Race: Worst Job in Politics?

    Jobs don’t get much more thankless than being the person designated to clean up after Donald Trump. Campaign manager Kellyanne Conway found that out this morning in a deeply uncomfortable interview with Fox News Sunday host Chris Wallace focused largely on the GOP nominee’s supposed outreach to African-Americans. The discussion was civil and measured, but Wallace was unsparing when he asked Conway to account for the way Trump has positioned himself thus far in the race with respect to the black community.

    The Fiscal Times
  • Business

    Why Dennis Gartman thinks these two assets 'don't make any sense' right now

    In a research note last week, Bank of America-Merrill Lynch noted that both assets were being bolstered by a 'flight to safety' stemming from risks in Europe, including the U.K.'s Brexit. Given this unusual occurrence, Gartman reasoned that investors may want to consider betting on gains for gold while selling Treasuries in weeks to come, particularly as skittishness over Federal Reserve interest rate policy continues to dominate. At Jackson Hole on Friday, Fed chair Janet Yellen's tone was interpreted as slightly hawkish. She noted that the "Fed has the tools to fight the next recession" and that she "anticipates that gradual rate hikes may be appropriate." However, not much clarity was given

    CNBC.com
  • Politics

    You'll Be Shocked That Most People Don't Know These 4 Things About Social Security -- The Motley Fool

    Social Security is one of the most important social program for seniors in retirement. Research from Gallup suggests that almost 60% of current retirees rely on Social Security income to comprise a major part of their monthly income, while another 30% rely on Social Security as a minor income source. In theory, 90% of today's retirees could be in some degree of financial trouble if they didn't have Social Security in their corner. But the honest truth is that most people -- especially those who've yet to retire -- aren't well versed on the ins and outs of Social Security. When it comes to Social Security, ignorance is far from bliss, as ignorance to the program's rules could wind up costing you

    The Motley Fool
  • Business

    Saudi Seen Unconcerned by Fed Plan

    A potential U.S. interest rate hike next month is unlikely to deter Saudi Arabia's plans to sell at least $10B of bonds. Bloomberg's Matthew Martin reports on "Bloomberg Markets Middle East."

    Bloomberg
  • Technology

    Are AT&T's and Verizon's no-overage policies really a good deal?

    Nobody likes getting socked with a charge for going over a monthly wireless data cap. And thanks to changes made by the nation's two largest carriers, those days may be over forever. Earlier this summer AT&T and Verizon said they'd eliminate charges for customers who bust their data caps, in exchange for slowing service to 2G speeds. It's a policy competitors T-Mobile and Sprint have offered for years. And it's likely to be a welcome change for many customers, who cringe every month when the phone bill arrives. But are the two big carriers really offering a good deal? In this edition of Ask Maggie, I help answer that question. Dear Maggie, I have two teenagers on my Verizon family plan, and they

    CNET
  • Business

    Billionaire George Soros' Fund Dumped These 3 Biotech Holdings. Should You? -- The Motley Fool

    George Soros is widely considered one of the greatest hedge fund managers of all time, and for good reason. During his tenure at the Quantum Fund, Soros reportedly generated average returns in excess of 30% per year, crushing the broader markets in the process.  As such, his namesake fund, Soros Fund Management, remains one of the most closely watched hedge funds in the world, despite his retirement in 2015. And the fact that the Soros Fund has over $4.6 billion under management means it can have a real impact on the market, giving investors all the more reason to keep tabs on its quarterly buys and sells.  Biotech investors in particular may want to dig deeper into the fund's quarterly transactions

    The Motley Fool
  • Business

    This negative 3.5% 'buy the market' signal has been a moneymaker 81% of the time

    In the history of the stock market, some of the best buying opportunities occurred after sharp sell-offs, with some of the single best days following the single worst days. Adviser Investments’ Daniel Wiener reviewed the performance of the S&P 500 (^GSPC) — via the Vanguard 500 Index Fund (VFINX) — to see how the stock market did in the year following one-day sell-offs of 3.5% or more.

    Sam Ro
  • Business

    Fico vs. Experian vs. Equifax: Their Pros and Cons (FICO, EFX)

    Lenders have an array of data available to make credit decisions on borrowers. Three major credit bureaus compile information about consumers' borrowing habits and use that information to create detailed credit reports, while another organization, the Fair Isaac Corporation (NYSE: FICO), or FICO, developed a proprietary algorithm that scores borrowers numerically from 300 to 850 on their creditworthiness. Some lenders make credit decisions strictly based on a borrower's FICO score, while others examine the data contained in one or more of the borrower's credit bureau reports. When seeking a loan, it is helpful for borrowers to know their FICO score as well as what is on their credit bureau reports, such as those from Experian PLC (EXPN.L) and Equifax Inc. (NYSE: EFX).

    Investopedia
  • Business

    3 Great Reasons to Sell General Electric Company -- The Motley Fool

    Between divesting its massive financial services business, investing heavily to expand its digital offerings, and working to transform itself into a highly focused industrial company, General Electric (NYSE:GE) is in the process of reinventing itself for the 21st century. Along this journey, General Electric has several notable opportunities it can tap into for growth. However, tapping into new growth may not necessarily translate into a higher stock price. After all, GE is a massive company and it takes a lot to move the needle. At the same time, the company is dealing with a sluggish and volatile global growth environment that's inhibiting its ability to drive revenue growth. Finally, there's

    The Motley Fool
  • Sports

    RECAP: Larson hits the mark for first NSCS win

    NASCAR.com's Chuck Bush recaps the Pure Michigan 400 as Kyle Larson beats out Chase Elliott on the final restart to earn his first career NASCAR Sprint Cup Series victory.

    NASCAR.com
  • Business

    Uber, rival Careem suspend services in UAE capital Abu Dhabi

    Ride-hailing service Uber said Sunday that it and competitor Careem have abruptly suspended services in the United Arab Emirates capital of Abu Dhabi due to "unforeseen circumstances," suggesting potential difficulties with local regulators. San Francisco-based Uber described the move as temporary and said it hopes to have more information in the next two days. "We want to let you know that this was a decision taken by both companies, and our goal is to resume operations in Abu Dhabi as soon as possible," Uber said in a statement.

    Associated Press
  • Politics

    Obamacare Price Hikes Could Cost Democrats Control of the Senate

    The odds remain fairly good that the Democrats can regain control of the Senate in November, especially if Democratic presidential nominee continues her strong showing against Republican businessman Donald Trump in the polls. Four other races -- including veteran Republican Sen. John McCain’s reelection effort in Arizona -- are deemed competitive by political experts. Despite years of Republican vows to dismantle and replace the Affordable Care Act, Obamacare has received relatively little attention in the presidential and congressional races until now.

    The Fiscal Times
  • Politics

    Brexit may send EU 'down the drain' - German vice chancellor

    Germany's vice-chancellor has warned the future of the EU could be in doubt if the UK's exit is handled badly. Sigmar Gabriel said the EU would go "down the drain" if other states followed Britain's lead and that the UK could not keep the "nice things" about Europe while taking no responsibility. It comes as Theresa May summoned ministers for a meeting on Wednesday to discuss ideas for the UK's withdrawal. Downing Street said Brexit was "top" of the prime minister's agenda. But a report in The Sunday Times suggested her cabinet was split over leaving the single market. The UK voted to leave the European Union in a referendum vote on 23 June. Mr Gabriel, who is also economy minister in Germany's

    BBC News
  • Business

    14 Things You Really Should Know About 401(k) Retirement Plans -- The Motley Fool

    Americans have a bounty of investment tools to choose from when preparing for retirement, but no investment vehicle is more popular in the United States than the employer-sponsored 401(k). As of 2010, based on data released by the Federal Reserve in 2013, there were 88.7 million workers in the U.S. participating in a 401(k) with roughly $4.5 trillion in assets being managed by mid-2013. The data also shows that more than 638,000 different 401(k) plans were being offered. As America's preferred retirement plan, it's important that you understand the ins and outs of what makes the 401(k) tick, because you retirement could very well depend on it. With this in mind, here are 14 things you should

    The Motley Fool
  • News

    U.S. SEC paid $3.75 million to BHP Billiton whistleblower: report

    The U.S. Securities and Exchange Commission paid a BHP Billiton insider $3.75 million for detailed information in an investigation into alleged bribery of Asian and African officials, the Australian Financial Review reported on Monday. Citing legal sources, the newspaper report said it was the first time an employee of an Australian company had received a U.S. whistleblower bounty. BHP last year settled the SEC case, paying $25 million to resolve charges it violated a U.S. anti-bribery law by failing to properly monitor a program in which it paid for dozens of foreign government officials to attend the 2008 Olympics in Beijing.

    Reuters
  • Business

    5 reasons middle class savers should be optimistic

    Editors' pick: Originally published August 25. While many American families are still wondering when the economic recovery will benefit them, there are a number of bright spots in the economy to provide hope as the second half of 2016 gathers steam. To be sure, there are many observers who wonder when the recover will benefit the middle class, whose incomes have stagnated. That is a byproduct of the near collapse of the financial services industry eight years ago. Many companies have remained cautious about ramping up hiring or increasing wages. That has impacted middle class savers and retirees.  Still, the signs are pointing upward. Main Street should feel bullish about the remainder of the

    The Street
  • Business

    Warren Buffett Bought 3 Million More Shares of This Oil Company: Here's Why -- The Motley Fool

    Berkshire Hathaway, Inc. (NYSE:BRK-A) (NYSE:BRK-B) bought 3.2 million more shares of Phillips 66 (NYSE:PSX), according to the company's most recent SEC filing. That puts Berkshire's total holding at nearly 79 million shares, good for a 15% stake in the refining and petrochemicals giant. In only a few years' time Phillips 66 has become one of Berkshire Hathaway's biggest holdings, worth $6.1 billion at recent share prices.  So what does Berkshire Hathaway CEO Warren Buffett  like so much about Phillips 66? In short, it's got a lot of the characteristics that Buffett looks for in a company, and they're the kinds of things that have typically meant fantastic long-term returns for Buffett and Berkshire's

    The Motley Fool
  • Business

    China state firms account for two-thirds of debt defaults this year - media

    China's government-run enterprises account for 66.5 percent of total debt defaults so far this year, China's official Securities Daily newspaper reported on Monday, citing information from the state asset regulator. The State-Owned Asset Supervision and Administration Commission (SASAC) will strengthen the way it monitors maturing debts in the coming three months in a bid to reduce the risk of defaults, the paper said, citing an official with the commission. China could allow industrial firms to convert their debts into equity stakes as early as next month, with the government now putting the finishing touches to a new plan, the official China Securities Journal reported on Monday.

    Reuters
  • Business

    Nutanix acquires two startups amid IPO delay

    High-tech computing company Nutanix has acquired two startups to enhance its data and storage services, as the firm continues to grow its business despite a protracted delay in its initial public offering. San Jose, California-based Nutanix said on Sunday it bought PernixData, a software company that facilitates data storage, and Calm.io, a development and automation startup, both also located in California. Nutanix declined to disclose the price of the acquisition.

    Reuters
  • Business

    Oil Falls Near $47 a Barrel as U.S. Crude Rig Count Unchanged

    Oil fell near $47 a barrel as the number of U.S. rigs drilling for oil remained unchanged and Royal Dutch Shell Plc said production isn’t affected by storm preparations in the Gulf of Mexico. A tropical depression near Florida, forecast to become a storm on Monday, is expected to move into the Gulf of Mexico, according to the National Hurricane Center. West Texas Intermediate for October delivery fell as much as 59 cents to $47.05 a barrel on the New York Mercantile Exchange and traded at $47.09 a barrel at 8 a.m. Tokyo time.

    Bloomberg
  • Business

    Malaysia's Felda Global Ventures posts 35 percent rise in profit

    Felda Global Ventures , the world's third-largest palm plantation operator, reported a 35 percent rise in second-quarter earnings, supported by stronger crude palm oil production following measures to boost fruit yields. The Malaysian producer stuck to previous guidance for palm oil prices to remain solid for the rest of the year, averaging 2,400 ringgit to 2,600 ringgit a tonne on restocking in China and Indian demand for November's Diwali festival, but said palm could spike as high as 2,900 ringgit. Palm oil is facing a production squeeze this year due to the ongoing effects of a crop damaging El Nino weather event, which brings hot, dry weather to Southeast Asia and lowers fruit yields.

    Reuters