The 175,000 jobs added in May is the latest evidence the economy could be poised for stronger growth.
Is the dying Sears Holding Corp. (SHLD) back in growth mode? Apparently it's having visions that all is just fine and dandy. With little fanfare, Sears opened a full-service auto care facility called DieHard Auto Center Driven by Sears in San Antonio last week. The news of its debut was first reported by Automotive News. Similar to a Pep Boys, Sears' auto service stop provides oil changes, tire replacement and vehicle repairs and assessments. Unlike Sears Auto Centers, the Diehard Auto Center isn't attached to a Sears store or in a parking lot of one. In effect, the store may be nothing more than Sears trying to showcase the brand's potential. To raise cash last May, Sears put its three best-known
U.S. President Donald Trump's first budget proposal will spare big social welfare programs such as Social Security and Medicare from any cuts, Treasury Secretary Steven Mnuchin said in an interview broadcast on Sunday. Mnuchin said Trump would also use a major policy speech to a joint session of Congress on Tuesday night to preview some elements of his sweeping plans to cut taxes for the middle class, simplify the tax system and make American companies more globally competitive with lower rates and changes to encourage U.S. manufacturing. Trump during his election campaign promised not to cut Social Security, Medicare healthcare for seniors nor Medicaid healthcare for the poor.
Amazon's (AMZN) Jeff Bezos is surely "cursing the sky" after Walmart (WMT) posted killer e-commerce growth in the fourth quarter on Tuesday, said Eric Schiffer, CEO of online marketing agency DigitalMarketing.com. Walmart said its sales from e-commerce gained a whopping 29%, helped by the $3.3 billion September acquisition of Jet.com, led by founder and CEO Marc Lore. Lore also founded Quidsi, the company behind Diapers.com and Soap.com, which was bought by Amazon in 2010 for $550 million. Lore stayed with Quidsi for roughly two years while under Amazon's control. "I think Amazon letting Marc go was the biggest mistake in history since Caesar let Mark Antony go to Egypt to be with Cleopatra,"
A new WSJ/NBC News poll released Friday shows a growing concern among Americans, and core-Trump supporters, over President Donald Trump's connections with Russian President Vladimir Putin. Photo: Press Pool/Kremlin
Warren Buffett's Berkshire Hathaway is out with its annual letter to shareholders. "Over the years, I’ve often been asked for investment advice, and in the process of answering I’ve learned a good deal about human behavior," Buffett said in the letter.
WASHINGTON (AP) -- Administration officials say President Donald Trump has no plans to cut Social Security or Medicare. Treasury Secretary Steven Mnuchin told Fox News Channel's "Sunday Morning Futures" that "we are
A trans-Atlantic wave of puzzlement is rippling across Sweden for the second time in a week, after a prominent Fox News program featured a "Swedish defense and national security advisor" who's unknown to the country's military and foreign-affairs officials. Swedes, and some Americans, have been wondering about representations of the Nordic nation in the U.S. since President Donald Trump invoked "what's happening last night in Sweden" while alluding to past terror attacks in Europe during a rally Feb. 18. There hadn't been any major incident in Sweden the previous night.
It is unusual to say the least that a major company’s CFO informs the CEO that he will be leaving the company the day before an earnings announcement and that he will be resigning within a few days when its 10-K is filed (but staying on for about 5-6 weeks to “ensure a smooth transition”). In one way it is better that Jason Wheeler, Tesla’s resigning CFO, told Elon Musk before the company’s earnings were released so that an announcement could be made on the conference call. Wheeler’s resignation becomes effective with the company filing its annual 10-K and over the past three years this has been on February 26th twice and on February 24 so I expect it any day. While this is a good amount of compensation he was Tesla’s first CFO and was there from 2008 to last 2015 so I suspect he made more than enough money that this additional amount is very nice to have but not needed.
(Janet L. Yellen, Chair, Board of Governors of the Federal Reserve System, looks over her notes as she testifies before the United States Senate Committee on Banking, Housing, The Federal Reserve said January 22 it is worried about the "low level of
"Retirement is like a long vacation in Las Vegas. The goal is to enjoy it the fullest, but not so fully that you run out of money." -- Jonathan Clements Considering that many people retire (willingly or unwillingly) around age 62 and that many live to 85 and beyond, that leaves them more than 20 years (and sometimes more than 30!) in which they have to support themselves. Social Security will help, but most of us will also need additional income -- perhaps from our 401(k) plans at work. Here are three smart 401(k) moves that can boost your future net worth. Smart 401(k) move No. 1: Fill it with as much money as you can For starters, aim to invest aggressively in your 401(k) plan (perhaps in tandem
GPS device-maker Garmin long has revered diversity in its workforce, even when the locale of its ever-sprawling operational headquarters — a largely white Kansas City suburb — didn't reflect it. It's the place 32-year-old Srinivas Kuchibhotla came to work a few years ago. By his wife's account Friday he willingly spent long hours on an aviation systems engineering team alongside Alok Madasani, a friend and colleague also 32 and from India.
As Republicans try to unite around a replacement for the Affordable Care Act, one of the most popular parts of the law will be among the most difficult to replace: the guarantee of health coverage for people with pre-existing conditions. The challenge of providing insurance for Americans who have no other alternative has some congressional Republicans considering whether to ask the states to reboot high-risk pools, an option with a rocky history. In the past, the pools served as insurers of last resort for people in poor health who could not get an individual policy from a commercial insurer.
After more than a century, Ford Motor Company (NYSE:F) is on course for a dramatic transformation. CEO Mark Fields has a plan to position Ford for the new era of mobility in a way that could boost its profit substantially over time. With a dividend yield around 4.7% and a price of just over 7 times its adjusted 2016 earnings, Ford is already on some investors' radar as a value-priced dividend play. But if Fields' plan is for real, it could be a significant profit-growth story over the next several years as well. Is it? Let's take a look. Ford's plan to boost profits as the industry transforms Fields summed up the plan elegantly during Ford's fourth-quarter earnings call: Our plan is simple:
Millions of Americans depend on daily insulin. In most industries, competition drives down prices but that`s not always the case in medicine. When one company raises the price, others quickly follow.
The U.S. Army Corps of Engineers has moved into the evacuated Dakota Access pipeline protest camp to finish the cleanup started weeks ago by the Standing Rock Sioux Tribe. A Florida-based company has been hired to provide trash removal and environmental cleanup in the main Oceti Sakowin camp on the north side of the Cannonball River and the smaller Rosebud camp on the south side. Authorities this week cleared the last holdouts from the camp near the Standing Rock Reservation, which straddles the North Dakota and South Dakota border.
On its latest conference call, Activision Blizzard (NASDAQ:ATVI) confirmed that Call of Duty: Infinite Warfare fell short of expectations, yet the company turned in a great quarter. The top video game publisher posted growth in revenue and earnings, and increased its annual dividend by 15%. What happened Reports surfaced in December that Activision Blizzard's latest Call of Duty installment -- Infinite Warfare -- was underperforming the year-ago title by as much as 50%. Those reports proved accurate, although we don't know exactly how many units Infinite Warfare sold because the company doesn't disclose that information. On the conference call, however, management explained that the new science
Americans have a lot of mortgage debt. In all, financial institutions in the U.S. hold about $10 trillion of mortgage debt on family residences. To put that in perspective, mortgage debt stands about seven times larger than student loan debt, and about 10 times greater than credit card debt in the United States. To better understand what trillions of dollars in mortgage debt really means, let's explore how much the average American owes or pays on their mortgage through three different lenses. 1. Average American's purchase mortgage If I told you that the average person who bought their current home in 1990 owed very little on their mortgage, you'd roll your eyes at the obvious. People who have
Carl Icahn didn't amass a net worth of an estimated $16.6 billion by making dumb moves. So when Dow Jones reported that the billionaire bought a stake in Bristol-Myers Squibb (NYSE:BMY), it captured the attention of the investment community. What potential does Icahn see in the big pharma stock? And should you consider buying Bristol-Myers Squibb stock, too? Takeover candidate? Dow Jones reported that Icahn views Bristol-Myers Squibb as a potential acquisition target. This isn't the first time the possibility has been mentioned. In January, Bristol-Myers CEO Giovanni Caforio was bluntly asked at a Goldman Sachs conference if the company had plans to thwart a hostile takeover. He skirted the
U.S. President Donald Trump's planned economic agenda has fanned the flames for Wall Street's record-setting run, but some investors worry that his first major address to Congress next week risks dousing it if his plans look slow to execute or are overly vague. The benchmark S&P 500 (.SPX) has surged 10 percent since Trump's Nov. 8 election, with optimism running high over the Republican administration's domestic proposals, including plans to reform taxes paid by businesses. On Sunday, Treasury Secretary Steven Mnuchin said in an interview with Fox News Channel's "Sunday Morning Futures" program that Trump "will be touching on tax reform" as part of the speech.
After more than two years of stagnant performance, Boeing (NYSE:BA) shares have taken off in the past year. Indeed, Boeing stock has more than doubled the S&P 500's rise with a 50% gain during that period. The vast majority of the increase has occurred since September. On Thursday, Boeing reached another all-time closing high of $176.86. Yet while the stock is flourishing, the underlying business is no better than it was a year ago. As a result, I sold about half of my Boeing stock last week. Boeing faces some headwinds Three years ago, demand for Boeing's planes was buoyant. However, since then, the sharp drop in oil prices has made airlines less desperate to upgrade their fleets with the newest,
Yahoo Finance reached out to Mohamed El-Erian to get his take on today’s release. Spending part of a Saturday morning reading Warren Buffett’s annual letter to shareholders is one of my cherished traditions.
Walmart's (WMT) U.K. division, Asda, is a bit of a disaster right now. In fact, compared to its parent-company, the discounter is a downright calamity. Last week, Asda was ranked the worst grocery store in the country, according to consumer advocacy magazine Which?. Its online offering didn't fare much better. The grocery chain was seen as having good values in food but with only average quality. Meanwhile, privately-held Waitrose was the best place to buy food in Britain because of its quality and easy-to-navigate stores. Shoppers dislike for Asda is translating into shrinking sales and market share. The division, which boosts more than 600 stores across the U.K., was Walmart's worst-performing
“Today, I would rather prep for a colonoscopy than issue Berkshire shares,” writes Warren Buffett in his latest letter to Berkshire Hathaway (BRK-A, BRK-B) shareholders. “I earlier described our gradual shift from a company obtaining most of its gains from investment activities to one that grows in value by owning businesses,” Buffett writes. “Launching that transition, we took baby steps — making small acquisitions whose impact on Berkshire’s profits was dwarfed by our gains from marketable securities.
Most Americans tend not to worry about their ability to manage their money as they age. But they should. A new study reveals the ages at which aging Americans lose their ability to pay bills, handle debt, maintain good credit, assess an investment’s potential return relative to its risk, and detect fraud. The good news first: Most people who don’t suffer from cognitive impairment can continue managing their money in their 70s and 80s, according to a report just published by the Center for Retirement Research at Boston College (CRR). But of course some older Americans, and especially financial novices who take over money management after the death of a spouse, will need help, researchers at the
Perhaps the most surprising outcome from rising gas prices is just how well pickup trucks are holding on to their value. Way back during the financial crisis as fuel prices soared, American consumers began switching from their preference for pickups and SUVs to gas-sipping smaller cars, causing headaches for the big-vehicle makers. With gas prices in the $4-per-gallon range at the time, Ford (NYSE:F) began slashing production of its once-popular F-series pickups and SUVs in favor of more fuel-efficient cars and crossovers. We're thankfully not returning to those days any time soon, but gas prices are still appreciably higher today than they were a year ago. According to AAA, the average price