Concert promoter AEG found not negligent in hiring Dr. Conrad Murray to care for Jackson.
MANILA/BEIJING (Reuters) - Twenty-nine Chinese steel firms have had their licenses revoked as Beijing kept up its campaign to tackle overcapacity in the sector and days after U.S. President Donald Trump said he would open a probe into cheap steel exports from China and elsewhere. Analysts say the revocations were unlikely to be a direct response to Trump's plan, but rather a part of China's reform measures aimed at reducing surplus steel capacity that many estimate at around 300 million tonnes, about three times Japan's annual output. The official China Daily said Washington's move to investigate steel imports could trigger a trade dispute between the United States and its trading partners.
Pipeline giant Kinder Morgan (NYSE:KMI) could be positioning itself to offer retirees sustainable income by emerging much stronger from the problems that originally forced it to cut its dividend in late 2015. It might seem crazy to consider a company whose most recent dividend move was a 75% cut as being capable of offering sustainable income, but Kinder Morgan just might be able to pull it off. The reason is simple: Unlike many companies forced by poor operating results to slash their dividends, Kinder Morgan was forced to make the cut by its balance sheet, rather than its operations. After Kinder Morgan acted as something of a white night to bail out the struggling Natural Gas Pipeline Company of America, Moody's threatened to downgrade its debt to junk status because of its increased leverage.
The restaurant industry is in a prolonged slump and no segment is having a harder time than the fast casual niche. Once the darling of the restaurant space, fast casual chains are struggling mightily to keep pace with even traditional quick-serve restaurants. The fast casual concept tapped into customers looking for a meal that was a step up from fast food with fresher, healthier ingredients that were served quickly, in a pleasing environment, at a reasonable price. The growing trend was epitomized by chains like Chipotle Mexican Grill (NYSE:CMG) and Panera Bread (NASDAQ:PNRA), which applied those concepts to Mexican food and sandwiches, respectively. Although both of those chains have faced
So much for people using their tax refund checks for a few splurges at fast casual restaurant Chipotle (CMG) in the first quarter. Same-store sales for the restaurant industry fell 1.6% in the first quarter, marking the fifth consecutive quarter of negative results, according to industry research firm Black Box Intelligence. The last time the industry experienced a similar ugly period was in 2009 and the first half of 2010 as the economy was in the grips of the Great Recession. Restaurant traffic plunged 3.6% in the quarter, says Black Box Intelligence, with the average check up 1.9%. The increase in check is of little comfort: it's slower than the average 2.3% increase seen in 2016 as brands
In late 2014, when crude oil was vacillating between roughly $60 and $80 a barrel, Tom Kloza of the Oil Price Information Service called for a plunge in crude prices over the next year. Now, Kloza sees further downside for the commodity that's already tumbled nearly 8 percent this year as U.S. production keeps climbing. "Back to the drawing board for crude oil prices," he remarked Friday in an interview on CNBC's "Trading Nation." Kloza's comments come on the heels of crude oil's worst weekly performance since early March, in which the commodity lost nearly 7 percent to settle just below $50 a barrel. "It's the sense that too much gasoline and really a drop in U.S. demand in particular, but a little bit of softness in India and some other places, is going to lead to an undertow for refinery runs," Kloza, who co-founded the Oil Price Information Service and is the firm's global head of energy analysis, said Friday.
GoPro, Inc. GPRO is slated to report first-quarter 2017 results, after the closing bell on Apr 27. The company has had a choppy earnings history, having beaten estimates twice for as many misses in the trailing four quarters, for a modest average positive surprise of 0.2%. Last quarter, GoPro surpassed estimates by 33.3%.
Altria Group (NYSE:MO) is one of the best-performing stocks of all time. Building on the success of its Marlboro cigarette brand, Altria has gone through huge transformations over the course of its history and faced plenty of threats. Yet when you look at what has made it so successful, as The Wall Street Journal did over the weekend, it really boils down to two things. First, Altria has found a way to survive despite an onslaught of attacks that many believed would eventually drive the tobacco company bankrupt. Second, Altria has used its brand awareness to create pricing power, and price increases have helped the cigarette maker produce growth in revenue and profits even as sales volumes have
The 10 biggest companies that do not support Trump did more than just refrain from associating with the new U.S president. As basketball great Michael Jordan allegedly said when asked about his silence on social issues during his heyday, “Republicans buy sneakers too.” Therefore, it is logical for companies to remain politically inoffensive if they want to get as many customers as they can. The election of President Trump (and it still feels weird to type out that phrase) has ushered in a wave of new policies that are doubtless polarizing, to say the least. The most polarizing of these regulations (or attempted regulations) is an immigration ban on people from Iran, Iraq, Libya, Somalia, Sudan, Syria, and Yemen.
The short answer is that the average American claims Social Security at 64.5 years of age. Most people claim at or before their full retirement age and less than 10% wait longer to claim benefits. However, the data shows that over time, more people are waiting longer to claim their benefits than in previous generations. Here are the details of when Americans claim Social Security and how your age will affect your own Social Security benefit. When do Americans claim Social Security? According to data from the Social Security Administration for 2015, the most recent year for which data is available, 2,838,988 Americans claimed Social Security retirement benefits. Of this amount, 1,668,226 people
Saving receipts every time you donate money to a charitable organization, maximizing your education tax breaks, or buying your first house could all put more money back in your pocket at tax time next year, just to name a few. Not only can you get a nice tax break for your contributions to an IRA, 401(k), or other retirement plan, but by taking advantage of this, you'll also be building up a nest egg, and getting closer to financial freedom later in life. When you save and invest in a tax-deferred retirement account, such as a traditional IRA or in a 401(k) at work, there are three potential tax benefits. When you contribute money to a qualified tax-deferred retirement account, your contributions could be deductible from your income.
Electronics giant Samsung will this week offer an unusually early software update for its newly-released Galaxy S8 phone, it said Monday after some consumers complained of red-tinted screens. The launch of the device is a key step for the South Korean tech firm as it seeks to move on from last year's humiliating withdrawal of the Galaxy Note 7 over exploding batteries, which hammered the firm's once-stellar reputation. Online images of their phones went viral on social media but Samsung denied a hardware flaw and maintained that users could manually adjust the colour range according to their preferences.
Wall Street is betting Sprint Corp. and T-Mobile US Inc. will soon revive talks on a blockbuster merger, but a recent surge in demand for wireless assets has Sprint exploring other ways to unleash value. Sprint’s parent SoftBank Group Corp. believes the company’s vast trove of wireless spectrum, which can be used for faster 5G services, has been undervalued, a view bolstered by AT&T Inc.’s lofty $1.6 billion purchase of Straight Path Communications Inc., according to people familiar with the matter.
NVIDIA (NASDAQ:NVDA) is feeling the heat after supply chain checks by BMO Capital Markets revealed a big drop in graphics processing unit (GPU) shipments during the first quarter of 2017. Analysts Ambrish Srivastava and Tim Long estimated a 16% drop in GPU shipments from Q4 to Q1, which is alarming as the normal seasonal drop has averaged 6% over the last three years. The BMO analysts believe that the greater-than-expected seasonal decline will trigger a slowdown in NVIDIA's gaming business. Not surprisingly, shares of the chipmaker dropped when this analyst note was publicized, as gaming is its bread and butter, supplying 62% of total revenue and driving terrific growth in recent quarters. However,
Costco (COST) members are apparently so obsessed with shopping at the place that they are willing to pay even more for the privilege of buying bulk mustard. At 60%, more than half of those polled in a new Barclays survey said that Costco's recent fee increase will not make them less likely to renew. Of the 40% that indicated that they are "less likely to renew", Barclays notes that this does not mean they will not renew. In March, the wholesale retailer said it would hike the price of its Goldstar membership by $5 per year to $60. Executive membership fees will increase by $10 to $120. The new fee increases will go into effect June 1, 2017, and will impact nearly 35 million members. Barclays
The original plan for President Trump’s border wall, repeated ad nauseam on the campaign trail, was that it would be paid for by Mexico. Eventually, when the Mexican government made it clear that they wouldn’t be cutting a check to the US Treasury, the claim shifted. Mexico would still be paying for the wall, Trump and his supporters said, but indirectly, through changes to trade agreements, taxes on remittances, or other means.
Gillian Tett, Financial Times, weighs in on the French election results where Emmanuel Macron and Marine Le Pen head for a runoff election.
If Sears Holdings Corp. (SHLD) had one foot in the grave coming into the year, then it has just dipped the second foot into a six foot hole. The dying retailer said in a new filing on Friday that same-store sales since the start of the year crashed 11.9% between its two banners. Excluding one-time gains related to the sale of the Craftsman tool business and certain real estate, Sears lost between $190 million to $230 million. That is worse than a year ago when it lost $181 million. Shares of Sears fell 2.8% to $13.01 in early afternoon trading on Monday. Sears also announced the departure of CFO Jason Hollar, who had only been on the job for about six months. The company hinted strongly it will
American Airlines on Saturday apologized to a female passenger and suspended an employee after a video showing an onboard clash over a baby stroller went viral, in the latest embarrassment for a U.S. carrier over how it treated a customer. The clip, posted on Facebook on Friday by a bystander aboard the flight, shows a woman in tears with a young child in her arms, and a man emerging from his seat to confront a male flight attendant who apparently wrested the stroller from the woman. Facebook user Surain Adyanthaya, who posted the video, wrote that the flight attendant had forcefully taken the stroller, hitting the woman with it and just missing her child.
This weekend's Barron's takes a look at the unusual value stock picks at one off the radar hedge fund. Other featured articles offer the prospects for top banks now that they have pulled back and a biotech company that is a potential takeover target. "Top Hedge Fund's Unusual Value Stock Picks" by Michael Shari takes a look at what stakes have helped put Hawk Ridge Fund in the top tier in performance.
It was a rough week for Rite Aid (NYSE:RAD) investors. Shares of the drugstore operator plummeted 15.4% last week, after the proposed purchase of the chain by Walgreens Boots Alliance (NASDAQ:WBA) ran into some resistance. Bloomberg reported that the Federal Trade Commission was considering filing a lawsuit that could derail Walgreens' pending $7 billion deal for Rite Aid, citing the Capitol Forum trade publication as its source. The report was never confirmed, but it was enough to send out shock waves to investors already fearful that the corporate combination won't be completed by the recently extended summertime deadline. Shares of Walgreens Boots Alliance rose 1.2% on the week, immune to
A stark reality of retirement planning is that your future is riding on the quality (read: plausibility) of your assumptions. By comparison, less than 15 percent of today's retirees kept working that long. "If you plan on working longer as a way to get by in retirement, you are going to be in trouble," says Craig Copeland, senior research associate at EBRI.
JPMorgan and UBS warned investors that Apple's (NASDAQ: AAPL) near-term results may come in below expectations. Apple is slated to report fiscal second quarter earnings on May 2. "We remain bullish on Apple in 2017 given what we believe is unprecedented pent-up replacement demand, combined with expectations for a materially different iPhone product this year.
The car industry is in a delirious moment of change. Despite the growing numbers of car companies manufacturing electric vehicles, consumers are still not lining up to buy EVs and broad support of self-driving car technology faces regulatory hurdles. When I asked him about his company’s plans for China he said, “In terms of volume, if you look at China, there’s so much, he said, and stretched his arms wide.
RATINGS CHANGES AK Steel was upgraded to outperform and assigned an $8.10 price target at Macquarie. Bank of America was downgraded to hold and assigned a $22 price target at Berenberg. Discovery Communications was upgraded to buy