ETFs are making huge strides, but they won't kill off individual stockpicking, says Shundrawn Thomas, Head of Northern Trust's FlexShares.
The subsidies Uber grants its drivers was the main reason for the loss, finance head Gautam Gupta told investors in a quarterly conference call, Bloomberg said, citing sources. The company lost about $520 million in the first quarter of the year and another $750 million in the second quarter, Bloomberg said. Uber, which is now valued at roughly $69 billion, lost at least $2 billion in 2015, the report said.
Boomers are setting a new pace settling into their Golden Years. According to a new survey by Transamerica Center for Retirement Studies (TCRS), 66 percent of Boomer workers plan to, or are already working past age 65. “Today’s workers are grappling with retirement security and challenged by the wobbly three-legged stool comprising Social Security, employer-sponsored retirement benefits and personal savings,” said Catherine Collinson, president of TCRS.
Japan's All Nippon Airways said Thursday it is cancelling some Boeing Dreamliner flights owing to a problem with the plane's engine, and warned of more groundings. The carrier, the biggest worldwide Dreamliner operator with a fleet of 50 jets, said nine domestic flights scheduled for Friday would be halted so it could fix a problem with a Rolls Royce-produced engine. The move came after ANA grounded a domestic Dreamliner flight earlier Thursday, also citing an unspecified engine problems.
Cigarettes are no longer the most valuable commodity in prisons, a new study shows. Their replacement? Instant ramen noodles. Here’s why. Photo: Reuters
People in Berkeley, California, significantly cut back on soda after the city introduced a tax on sugary beverages. That's according to a study of low-income neighborhoods that was published in the American Journal of Public Health on Tuesday. The study found that soda consumption dropped 22% after Berkeley imposed a penny-per-ounce tax on sugar-sweetened beverages. The city's tax passed in 2014 and went into effect in May 2015. The new tax made a 20-ounce bottle of Coke 20 cents more expensive for distributors. This extra cost is passed on to consumers. Researchers tracked changes in soda consumption after the tax went into effect, comparing surveys of Berkeley residents' reported beverage consumption
Sears Holdings (SHLD) is in really bad shape as its earnings report shows, and as it prepares for the holiday season. The struggling owner of Sears and Kmart reported a staggering second-quarter loss of $2.03 a share as it felt intense competitive pressures in businesses such as appliances and apparel from Home Depot (HD) , Lowe's (LOW) , J.C. Penney (JCP) , Best Buy (BBY) and Walmart (WMT) . A year ago, the company delivered a loss of $2.03 a share. Net sales plunged 8.8% to $5.7 billion. The impact of yet another loss could almost be felt in the dishearted statement by Sears' Chairman and CEO Eddie Lampert. "We continue to face a challenging competitive environment, and while we continue to
Along with changing your oil every 3,000 miles and checking your child’s trick-or-treat bag for weaponized apples, the common advice to create an emergency fund is overly prudent. All you need is an objective understanding of risk to realize that there are far better places to put your money than an inert account that can’t enrich you. The most recognizable personal finance mavens are almost unanimous in their advocacy of the emergency fund as a vital part of any common-sense financial plan. Their recommendations differ only on size – three months’, six months’, perhaps eight months’ worth of living expenses are enough to accommodate whatever misfortune might befall you. But to what end? And
The price of the EpiPen has soared 500% since generic drug company Mylan bought the treatment nine years ago. On an earnings call earlier this month, Bresch blamed EpiPen sticker shock in part on Obamacare. Mylan is no stranger to controversy (see my profile last year, “Why Wall Street Loves to Hate Mylan’s CEO”).
A boycott against Target over its bathroom policy seems to be costing the retailer more than anyone expected. The boycott started in April after Target announced that it would welcome transgender customers to use any bathroom or fitting room that matched their gender identity. The announcement triggered an immediate backlash. Critics said the policy opened the door for sexual predators to victimize women and children inside the retailer's bathrooms, and more than 1.4 million people signed a pledge to stop shopping at Target unless it reversed the policy. But Target didn't back down. The company revealed its traffic declines last week when it reported second-quarter earnings. Target's same-store
Eric Trump said Wednesday it would be “foolish” for his father to release his tax returns and subject them to scrutiny by people who don’t know what they are looking at. “You would have a bunch of people who know nothing about taxes trying to look through and trying to come up with assumptions on things they know nothing about,” Trump said on CNBC. “It would be foolish to do. I’m actually the biggest proponent of not doing it.” The Republican presidential candidate has said he can’t release his tax returns until the Internal Revenue Service completes an audit. His son reiterated that reason Wednesday, saying there is “no tax attorney in the world who will tell you to release your tax returns
When Costco began transitioning from American Express to Visa as its exclusive credit card partner in June, delays and confusion had customers threatening to cancel their memberships. Now, two months later, some Costco members say that major problems remain — and that Citi, the card issuer, and Costco aren't doing enough to fix them. In addition to making Visa the only credit card customers can use at Costco, the transition meant that 11 million of Costco's 81 million members worldwide with Costco cobranded credit cards had to switch from the TrueEarnings American Express Costco card to the Costco Anywhere Visa.
If you’ve ever had an idea that you think would change the way we get around, Ford would like to hear it. The company has a portal open to employees and the public where anyone can suggest an idea to Ford, and, if the company likes it, it may work with the person to help them secure the intellectual property. On the site, Ford has a list of a few suggestions that it would really prefer if you didn’t send them, because the company is either already working on similar ideas, or it’s just heard it a ton of times before and can’t do anything with. “We do not want you to waste your time submitting these ideas (or our time reviewing them), as we will reject your submission,” Ford says on the site.
Former Fox News CEO Roger Ailes was hit with fresh allegations of sexual harassment when former host Andrea Tantaros filed a lawsuit against the network, Ailes and a host of other Fox executives according to reports on Thursday (24 August). The new lawsuit claims Ailes, host Bill O'Reilly and former Massachusetts Senator Scott Brown made unwanted advances towards Tantaros while she worked at the network. "Fox News masquerades as defender of traditional family values, but behind the scenes, it operates like a sex-fuelled, Playboy Mansion-like cult, steeped in intimidation, indecency, and misogyny," claimed the lawsuit, filed at the New York Supreme Court in New York County. Fox News co-president
There’s no question that dividends can be a powerful part of any long-term investor’s portfolio. There are very few things that are guaranteed in the investing world, but the best dividend stocks always come through for shareholders quarter after quarter. The biggest concern for investors searching for dividend stocks is that a company will cut its dividend at the first sign of financial hardship. As impressive as is for companies to maintain its dividends through thick and thin, some companies kick dividend reliability up a notch higher. Remarkably, a handful of blue-chip dividend stocks have an impeccable track record of more than 50 consecutive years of dividend hikes. That’s right, the Vietnam
The grocery store chain recently cut the cost of 1,000 popular items in 120 of its stores, retail consultant David Merrefield writes on industry website The Robin Report. Kroger has annual sales of $115 billion, about half of Walmart's US sales. Walmart is reacting to Kroger's success by investing more heavily in its grocery experience, the Cincinnati Business Courier reports.
You’ve done all the right things – financially speaking, at least – to get ready for retirement. You started saving early to take advantage of the power of compounding, maxed out your 401(k) and individual retirement account (IRA) contributions every year, made smart investments, squirreled away money into additional savings, paid down debt and figured out how to maximize your Social Security benefits. Now what? When do you stop saving – and start enjoying the fruits of your labor? A Nice Problem to Have (But a Problem All the Same) Many people who have saved consistently for retirement have trouble making the transition from saver to spender when the time comes. Careful saving – for decades,
People have been up in arms about the high price of the EpiPen. Tensions over this issue have flared up this week as senators and Democratic presidential nominee Hillary Clinton have taken a stand against the price of the medicine. The EpiPen is a device used in emergencies to treat anaphylaxis, a severe allergic reaction that can make people go into shock, struggle to breathe, or get a skin rash.
Macy's recently revealed plans to shut down 100 stores as it battles slowing sales and growing online competition. The retailer didn't say which stores would close or how many employees would be affected, though laid-off workers will likely number in the tens of thousands. Macy's employs more than 150,000 people, and the closures represent 15% of its store base. Many Macy's employees have been posting in online message boards asking if anyone knows which stores will close. The business analytics firm 1010data looked into it and compiled a list of cities where closures are most likely. The firm identified the most at-risk areas based on a review of consumer spending data that showed where Macy's
1. Remove barriers and offer safe harbors for continued work during retirement including rehire by former employers. Related policy issues include bona fide termination of employment, wage and hour rules, maybe age discrimination, and phased retirement. As an actuary, I am very aware of changing demographics and longer life spans, and feel that facilitating longer employment is very important. 2. Adjust retirement ages as longevity improves and regularly update retirement ages. Index both Social Security and private plan required normal retirement ages (ERISA) or at least increase them. Don’t forget to update disability benefits as retirement ages are adjusted. 3. Offer a menu of default distribution
Shares of Teva Pharmaceuticals fell as much as 6 percent on Wednesday after the U.S. Patent Office invalidated two of the company's patents. Mylan had filed a total of four claims related to Copaxone 40 mg. The two patents invalidated on Wednesday are owned by Yeda Research & Development and licensed to Teva. The involved parties are still waiting on a ruling for a third patent, which is expected by Sept. 1. Earlier this month, the Patent Office had ruled that a fourth patent was not eligible for review due to procedural reasons. On Wednesday, Mylan said that it believes the favorable rulingundermines that earlier judgement. The company said it will be "pursuing all avenues to challenge" the
There's no arguing that utility stocks have knocked it out of the park this year. Utility stocks are always attractive to income oriented investors because of their dividend yields. In fact, I recently recommend taking profits in utility bellwether Southern Company (NYSE: SO).
AssetMark Inc of Concord, California, agreed to pay $500,000, the largest penalty among the 13 firms, the SEC said. The firms also included a unit of North Carolina-based BB&T Corp and Hilliard Lyons of Louisville, Kentucky. The penalties are based on the fees each firm earned from F-Squared's flagship "AlphaSector" strategy, a customized model for allocating investors' assets in exchange-traded funds, stocks and bonds, the SEC said.
Ford is recalling more than 88,000 cars and SUVs in North America because the engines can stall without warning due to a fuel pump problem. The recall covers certain Ford Taurus and Police Interceptor sedans, Ford Flex wagons, Lincoln MKS sedans and Lincoln MKT SUVs from the 2013 through 2015 model years. All have 3.5-liter turbocharged six-cylinder engines. Ford says the fuel pump control modules can fail, and the engines may not start, or they could stall, leaving drivers without the ability to restart them. The company says it's not aware of any crashes or injuries from the problem. Dealers will replace the control module at no cost to owners.
The developer of the world's largest aircraft says the blimp-shaped airship sustained damage after it made a bumpy landing Wednesday on its second test flight in eastern England. Hybrid Air Vehicles said it is trying to figure out what caused the rough landing of the 302-foot (92-meter) Airlander 10 during its 100 minute flight Wednesday in Bedfordshire, north of London. "The Airlander experienced a heavy landing and the front of the flight deck has sustained some damage, which is currently being assessed," the company said.