Britain has launched a legal challenge to the European Union's cap on banker's bonuses, which London fears will hurt its financial industry. Kirsty Basset reports.
The Beretta will be replaced by the Sig Sauer P320 at a cost of about $580 million. Surely the army gets a substantial discount by ordering in bulk. Like the Italian-owned Beretta, Sig Sauer is foreign-owned (controlled by the privately held German company L&O Holding).
Retirement is a major milestone that brings many life changes. According to the Transamerica Center for Retirement Studies, the most frequently reported retirement worry is outliving savings and investments. Across all ages, 51% of respondents cited this concern, and 41% of retirees claim the same fear.
iStockWhen it comes to building a retirement portfolio, your first steps should be to make sure it's diversified and isn't too risky. Beyond that, it's about finding a mix of stocks and bonds that
Keith Bliss of Cuttone talks about the stock market's negative reaction to Donald Trump pulling the United States out of the Trans-Pacific Partnership.
Although the overall individual audit rate is only about one in 119, the odds increase dramatically as your income goes up, as it might if you sell a valuable piece of property or get a big payout from a retirement plan. The IRS wants to be sure that owners of IRAs and participants in 401(k)s and other workplace retirement plans are properly taking and reporting required minimum distributions.
This story was delivered to BI Intelligence "Payments Briefing" subscribers. In its Q4 and full-year 2016 earnings release, Amex announced results that fell short of analyst expectations, but still pointed in a promising direction. Any upward trend is critical for Amex, which has struggled in a number of key areas over the past several quarters — largely as a result of the sale of its Costco co-branded card portfolio last year.
The dollar retreated Monday, with warnings of wild volatility ahead, as Donald Trump began his presidency by attacking global trade deals and promising to put America first.Most large global equity markets also fell amid uncertainty over the new US leader
The price of crude has been whipsawed up and down so far in 2017 on any hint that OPEC is either fulfilling its promise to curb crude oil production or coming up short of its promised cuts. Saudi Arabia and other members say they are cutting back quickly, and reports from the International Energy Agency show that oil held in storage around the world is shrinking. For the rest of the winter, expect benchmark West Texas Intermediate to trade between $50 and $55 per barrel, little changed from its current level of about $52.50.
The ruling is another victory for the U.S. Justice Department, whose antitrust enforcement became much more aggressive during former U.S. President Barack Obama's eight years in office, which ended last week.
Macy's, Sears, Target, Kohl's, and JCPenney are among the many companies that have reported lackluster sales during the critical holiday period. In the wake of the disappointing season, Macy's and Sears are now collectively closing more than 200 stores, and analysts say JCPenney could shut down as many as 300 stores within the next couple years. Target has slashed its fourth-quarter sales and earnings outlook and the mall-based retailer The Limited just shut down all 200 of its stores.
Last Friday, with his swearing-in as president of the United States, Donald Trump joined one of the most exclusive clubs in the world. At the same time that he become one of a handful of living people ever to sit in the Oval Office, he effectively inducted his entire family and all of his close associates into a different club, somewhat less exclusive and far less prestigious. As of Friday, the entire Trump family became what is known in international financial and law enforcement circles as “politically exposed persons,” or PEPs.
At the same time, millions of Americans marched in Washington and scores of cities across the country to protest Trump’s election and policies that threaten women’s rights, illegal immigrants, health care coverage for more than 20 million people, and long-standing international alliances. The day’s events were both breathtaking and alarming, as Trump and his new White House press secretary, Sean Spicer, appeared unhinged at times as they clashed with reporters and bitterly complained that the media had vastly understated the size of the crowd on hand for Trump’s swearing in ceremony. The White House also complained about what proved to be an inaccurate tweet by a Time Magazine reporter that Trump had removed a bust of Martin Luther King Jr. from the Oval Office.
If you don’t know what a health savings account is, it’s time to find out. A key tenet of President-elect Donald Trump’s stated health-care plan is to expand access to these savings accounts, but there’s already a growing trend among employers to move employees to high-deductible insurance plans.
This column has been updated from Jan. 21 to note the double-digit percentage drop in Qualcomm's shares on Monday morning. Just three days after the U.S. FTC filed an antitrust suit against Qualcomm that (among other things) alleged the company had a 5-year modem exclusivity deal with Apple that featured patent royalty rebates, Apple has announced it's suing Qualcomm for allegedly withholding close to $1 billion in rebates as retaliation for cooperating with South Korean regulators in their own Qualcomm probe.
American workers who are eligible for benefits can claim Social Security as early as age 62, although full retirement age isn't until at least 66. The most common age at which people file for their Social Security retirement benefit -- you guessed it -- 62. It's easy to see why many people want that money as soon as possible, but for some retirees, it pays to wait. Here's what you need to know about claiming Social Security early, and whether or not it could be the right move for you. Most people claim early More than half of all Americans claim Social Security before their full retirement age, according to a report by the Center for Retirement Research at Boston College, and the most popular
Financial markets have not priced in a protectionist Donald Trump presidency, according to Goldman Sachs. Look at how quickly Asia’s export-oriented companies have bounced back, “suggesting the market may not have priced in much trade risk”, wrote Goldman. Among Asian companies with sizable revenue exposure to the U.S., Goldman dislikes Kia Motors (000270.Korea), SMIC (981.Hong Kong), Advantech (2395.Taiwan), Acer (2353.Taiwan), and Cipla (500087.India) the most. These five companies promise 34%, 32%, 29%, 26% and 26% downside respectively. At first glance, Kia Motors should not be picked on by Trump. About 40% of its production is based in the U.S. – versus 10% in Mexico with the rest produced
Jan.22 -- President Trump has made no secret of his opinion on China, accusing it of currency manipulation throughout his election campaign. But, he's not the first president to take issue with Beijing on this matter. Bloomberg's Enda Curran reports on "Bloomberg Daybreak: Asia."
Rex Tillerson's bid to be secretary of state narrowly won approval Monday from the Republican-led Foreign Relations Committee, a move that all but assures Senate confirmation of President Donald Trump's choice to be the nation's top diplomat. Members of the committee voted along party lines, 11-10, to back Tillerson following a contentious confirmation hearing nearly two weeks ago that stoked concerns he might not win the panel's recommendation. Rubio said that despite serious reservations about Tillerson, particularly over his views on Russia, he believed a president was entitled to significant deference in assembling his Cabinet.
A new Consumer Financial Protection Bureau report found that more than one in four consumers felt threatened when contacted by debt collectors. The first-ever national survey of consumer experiences with debt collectors found consumers often faced calls that came too often, at odd hours and contained warnings of jail time and other threats. CFPB Director Rich Cordray said the report casts a "troubling light" on the industry, and that the bureau is working to stop abuses.
Telecom giant Sprint said Monday it would buy one-third of rap mogul Jay Z's Tidal streaming platform, breathing new life into a service whose star power has failed to translate into market dominance. Sprint, which is owned by Japan's Softbank Corp. and is the fourth-largest mobile service provider in the United States, plans to roll out Tidal content exclusives for the carrier's customers. A joint statement did not reveal the size of the deal but music industry magazine Billboard said Sprint would pay $200 million for the 33 percent stake.
Donald Trump says he will not delay "making America great again" - and the new US president has already begun unpicking some of his predecessor's policies, including Barack Obama's signature healthcare system. So some quickfire changes to economic policy could well be in the pipeline. On the campaign trail, the rhetoric was passionate. So, now that Mr Trump is in the Oval Office, what are we likely to see? Deregulation Barely had the inauguration ended than White House Chief of Staff Reince Priebus called a halt to the introduction of any new regulations. That sounds like a bold move to cut red tape and, during the election, Mr Trump did promise to cut back the regulatory burden on business.
German industry would take advantage of any trade opportunities in Asia and South America left by a protectionist United States, Vice Chancellor Sigmar Gabriel said on Monday, after President Donald Trump withdrew from the Trans-Pacific Partnership (TPP). In an interview with the Handelsblatt newspaper to appear on Tuesday, he said, "If Trump starts a trade war with Asia and South America, it will open opportunities for us." "Trump must simply recognize that the U.S. economy often isn't competitive, while the German (economy) is," he said, criticizing Trump's threat to impose a 35-percent tariff on German cars imported from Mexico.
To fight what it called a "grave threat" to the country, a watchdog group on Monday filed a lawsuit alleging that President Donald Trump is violating the Constitution by allowing his business to accept payments from foreign governments. The lawsuit claims that a constitutional clause prohibits Trump from receiving money from diplomats for stays at his hotels or foreign governments for leases of office space in his buildings. The language in the clause is disputed by legal experts, and some think the lawsuit will fail.
President Donald Trump yanked the United States out of a major Pacific trade deal Monday, making good on an election campaign promise and delivering a hammer blow to Asian allies. Trump said he had "terminated" the Trans-Pacific Partnership -- a trade deal binding the United States, Australia, Canada, Japan, Vietnam and seven other allies against growing Chinese economic clout. Together, TPP members represent 40 percent of the world economy.
The U.S. consumer financial watchdog said on Monday it had fined subsidiaries of Citigroup Inc $28.8 million for giving "the runaround to borrowers" on mortgage servicing by keeping them in the dark about options to avoid foreclosure or making it difficult for them to apply for relief. CitiMortgage will pay an estimated $17 million to compensate wronged consumers, as well as a civil penalty of $3 million, the Consumer Financial Protection Bureau said. CitiFinancial Services will refund approximately $4.4 million to consumers, and pay a civil penalty of $4.4 million.