Group pressuring Congress and the White House to cut America's $16 trillion national debt launches NC chapter
iPad sales are awful. Truly awful. And while CEO Tim Cook may be bullish about the tablet's future, Apple desperately needed to do something to try to turn sales around. Well, we now have a price cut. You know things are desperate when Apple starts cutting prices, but the latest iPad price cut might have come too late to save it. Must read: How to get your iPhone or iPad ready for iOS 10.3 Before we look at why the price cut has come too late, let's consider the reasons for the price cut. OK, there's the obvious fact that sales suck, but there's more to the poor sales that meets the eye. First off, iOS 10 rendered some 40 percent of iPads that were in use obsolete. That's a huge number of devices
The Great Restructuring in retail continues. In the wake of a disappointing holiday season, J.C. Penney (JCP) said recently that it will close 138 stores stores by the second quarter. The store closures represent 13% to 14% of the company's current store base and less than 5% of annual sales. They have a negligible impact on net income. J.C. Penney said same-store sales at the locations were "significantly below" the remaining store base and operate at a much higher expense rate due to poor productivity. The company expects $200 million in annual costs savings from the efforts. "We believe closing stores will also allow us to adjust our business to effectively compete against the growing threat
Sears' plan to avoid bankruptcy in part by selling off or licensing brands including Kenmore and DieHard may prove difficult because of changing consumer tastes and possible legal roadblocks. Sears Holdings Corp, once the largest U.S. retailer, warned on Tuesday about its ability to continue as a going concern after years of losses and declining sales. In January, Sears sold its Craftsman tool brand to Stanley Black & Decker Inc for $900 million.
This year, Americans say they’re ready to make their savings accounts great again. Whether they actually will is another story. About 21% of working Americans aren’t saving any of their income, which remains unchanged from the answer consumers gave the survey in 2016, a survey released this week by personal finance site Bankrate.com concluded. And just 25% are saving more than 10% of their incomes, down from 28% in 2016. The Bankrate survey was conducted by Princeton Survey Research Associates from a nationally representative sample of more than 1,000 people. What are the biggest reasons Americans aren’t saving more money? The No. 1 answer: 38% said they had too many expenses, some of which may
One-third of Americans would not be unable to come up with $2,000 to deal with an emergency like an urgent home repair, medical crisis or car accident. The survey of consumer sentiment surrounding access to and demand for credit was conducted in February. While 32.5 percent of survey respondents feel they might need $2,000 to cover an unexpected expense in the next month, almost exactly the same number, 32.8 percent, admit they could not come up with that sum in the next month if faced with an emergency.
In a sometimes contradictory and confusing press conference held in a Capitol Hill hallway on Wednesday, House Intelligence Committee Chairman Devin Nunes suggested that at least one US intelligence agency had “incidentally” intercepted a large amount of communications between Donald Trump’s transition team and foreign officials. At one point, Nunes appeared to suggest that then-president-elect Trump’s own communications might have been intercepted. “I recently confirmed that on numerous occasions the Intelligence Community incidentally collected information about US citizens involved in the Trump transition,” Nunes read from a prepared statement at the beginning of his press conference.
Oil prices slipped on Wednesday to their lowest since late November, with Brent testing the $50 per barrel support, after data showed record high U.S. crude inventories rising faster than expected, raising doubts over the viability of OPEC-led output cuts. The Energy Information Administration (EIA) said U.S. inventories climbed almost 5 million barrels to 533.1 million last week, far outpacing forecasts of a 2.8 million-barrel build. "The fact that this supply has increased almost 55 million barrels this year in the face of significant OPEC production cuts is evolving as a major bearish development that poses a significant threat to the viability of the OPEC agreement in our opinion," Jim Ritterbusch, president of Chicago-based energy advisory firm Ritterbusch & Associates, said in a note.
Ferrari's fast lap times and good reliability during winter testing has raised hopes of a challenge to Mercedes' three-year dominance of Formula One but the excitement is yet to infect four-times champion Sebastian Vettel. "I think that's what we all said when we first got out of the car that it's a big step forward." Ferrari failed to win a race last year, have not won the drivers' title since Kimi Raikkonen's 2007 championship and have experienced a number of false dawns in recent years. The team headed into last year's championship with raised expectations after a similarly positive winter testing but they were duly crushed as Lewis Hamilton and champion Nico Rosberg, now retired, won 19 out of the 21 races.
Google Maps users will soon be able to broadcast their movements to friends and family — the latest test of how much privacy people are willing to sacrifice in an era of rampant sharing. The location-monitoring feature will begin rolling out Wednesday in an update to the Google Maps mobile app, which is already installed on most of the world's smartphones. Google believes the new tool will be a more convenient way for people to let someone know where they are without having to text or call them.
The number of Americans saying they need at least this amount has grown steadily over the last few years. In 2007, only 19% of American workers said they needed at least $1 million to retire. In its annual retirement confidence survey, the research institute surveyed 1,083 American workers ages 25 and older, as well as 589 retirees.
Mortgage apps slip 2.7% for the week ending March 17th 30 Mins Ago | 00:57 The fast-rising cost of housing today is shrinking demand for home loans but also pushing those who are in the market toward cheaper, adjustable-rate mortgages. Total mortgage application volume fell 2.7 percent last week from the previous week, according to the Mortgage Bankers Association. The seasonally adjusted tally stands nearly 12 percent lower than a year ago. Mortgage rates didn't move last week, but they are nearly three-quarters of a percentage point higher than on Election Day. Home prices continue to rise far faster than incomes, and those higher housing costs have borrowers searching for the best deals
By Megan Davies and Rodrigo Campos NEW YORK (Reuters) - The Trump Trade could start looking more like a Trump Tantrum if the new U.S. administration's healthcare bill stalls in Congress, prompting worries on Wall Street about tax cuts and other measures aimed at promoting economic growth. Investors are dialing back hopes that U.S. President Donald Trump will swiftly enact his agenda, with a Thursday vote on a healthcare bill a litmus test which could give stock investors another reason to sell.
Rex Tillerson did not want the job of secretary of state and was convinced to take up the mantle on the insistence of his wife, he said, according to an interview published in an Independent Journal Review (IJR), the only media outlet that was given access to Tillerson during his recent Asia trip. “When he asked me at the end of that conversation to be secretary of State, I was stunned;" Tillerson explained that he had never met President Trump before the election.
Cybellum says DoubleAgent is a zero-day attack that hijacks antivirus software and uses it to inject malware. Image: Cybellum/YouTube Security researchers have discovered a new attack called DoubleAgent that uses a Windows bug-fixing tool to turn antivirus into malware. The DoubleAgent attack is detailed by Israel-based security firm Cybellum, which claims to have confirmed it can compromise products by Avast, AVG, Avira, Bitdefender, Trend Micro, Comodo, ESET, F-Secure, Kaspersky, Malwarebytes, McAfee, Panda, Quick Heal, and Norton. The company says other antivirus products are also likely to be vulnerable. The attack relies on Microsoft Application Verifier, a runtime verification tool used
U.S. financials should benefit from lower regulatory costs as well as a healthier economic backdrop over the next two years, RBC Capital Markets' equity research chief said on Wednesday. "I think what we're going to see is lower expenses for the regulatory costs for these banks…it's going to free up more capital," Gerard Cassidy, managing director of equity research at RBC Capital Markets, told CNBC's Squawk Box. For starters, Bank of America should benefit from rising rates and increasing revenues as well as the broader follow through effects from strength of the U.S. economy.
Kudos to Sears Holdings Corp. (SHLD) for finally admitting what everyone already knew: it's almost dead. As TheStreet broke the news on Twitter Tuesday evening, Sears indicated in its newly filed annual report that "substantial doubt exists related to the company's ability to continue as a going concern." Sears' cash position has melted from a high point of $1.7 billion for the 2009 calendar year to a mere $286 million to close out 2016. Revenue hasn't grown since the credit boom lifted all ships in retail in 2006. The company hasn't generated cash flow from its operations since 2006. "With negative news like this, it's never good for confidence on the company," Moody's VP Christina Boni told
A carry-on ban by Washington and London for laptops on flights from some airports will hit the profits of affected airlines, especially the lucrative business class segments of Gulf carriers, analysts said Thursday. Washington decided to ban electronic devices bigger than mobile phones on direct flights to the United States from 10 airports in seven Middle Eastern countries and Turkey.
More than 250 brands have reportedly pulled their spend from Google's services after a newspaper investigation found their ads appearing next to extremist content on YouTube. Business Insider spoke to more than a dozen ad executives who suggested the boycott smacks of "opportunism" and a chance to gleefully bash the biggest player in the online ad industry. Some executives believe advertisers and agencies are hopeful Google's pain over the issue will continue so they can use it as leverage in their negotiations with the online ad giant.
The California-based Consumer Watchdog group claims Amazon is misleading its customers by posting inflated list prices to give the impression the company is offering more of a discount. The nonprofit public-interest group filed a petition to Calif. Attorney General Xavier Becerra on Monday, claiming Amazon is violating state and federal law because, Consumer Watchdog said based on its own study in February, many products Amazon’s website feature list prices that are greater than the existing market price. “The reference prices were an entirely bogus notional price that created the false impression that customers were getting a deal when they were not,” the petition, written by John Simpson, Privacy Project director for Consumer Watchdog, reads.
A judge on Thursday ordered Argentina's former president Cristina Kirchner to stand trial on charges of financial mismanagement. A string of cases targeting Kirchner and her rival, current President Mauricio Macri, are clouding Argentine politics ahead of mid-term elections later this year. Kirchner is accused of ordering the central bank to sell dollar futures at artificially low prices, causing Argentina to lose hundreds of millions.
A big tax bill is like hay fever . Taxes have to be paid, and putting them on your credit card might seem a good option. When you buy something with a credit card, the merchant pays processing fees to the financial institutions that handle the transaction.
4:20 pm: [BRIEFING.COM] The stock market had a decent rebound try going for much of Thursday's session, but it fell to the wayside in the afternoon after reports that the House vote on the American Health Care Act, which was scheduled for tonight, will
By Jake Spring and Norihiko Shirouzu BEIJING (Reuters) - China's Geely Automobile Holdings Ltd posted its biggest profit growth in eight years on Wednesday, as improved product design and engineering following its 2010 purchase of Sweden's Volvo helped propel it to record sales. Geely, which also owns the maker of London's black cabs, has already forecast a 31 percent jump in sales for the current year as affordable models introduced after the Volvo acquisition, such as its GC9 sedan and Boyue sport-utility vehicle, exceed initial estimates. Long seen as a no-frills brand, Geely has transformed itself into an automaker with up-market aspirations, using its Volvo research-and-development advantage to climb the sales table in the world's largest auto market where it ranks around seventh.