Unlike Congress, investors need to think long term to protect their retirement accounts, says Scott Hanson of Hanson McClain Advisors.
Jeremy: I would really like to know if the members of the bumpkin Trump family truly ask themselves why they seem to think there is so much negative media attention given them. Could it be that almost every topic Donald promotes, talks about, rails against, shouts about and actively promotes is negative based. Add that to his lying, poor slobbish behavior and his ' its all about me ' attitude, and that's what you get. Some inner reflection is really needed - but will never happen.
That overstuffed wallet of yours can’t be comfortable to sit on. It’s probably even too clunky to lug around in a purse, too. And with every new bank slip that bulges from the seams, your personal information is getting less and less safe. With just your name and Social Security number, identity thieves can open new credit accounts and make costly purchases in your name. If they can get their hands on (and doctor) a government-issued photo ID of yours, they can do even more damage, such as opening new bank accounts. These days, con artists are even profiting from tax-return fraud and health-care fraud, all with stolen IDs. We talked with consumer-protection advocates to identify the eight things
President Barack Obama in a speech in Florida on Thursday defended his signature healthcare law, touting its benefits while attacking Republicans for opposing it. Obama hit on the various benefits of the Affordable Care Act, more commonly known as Obamacare, such as allowing children to stay on their parents' health insurance until age 26 and preventing insurers from denying people with preexisting conditions. "You're getting better quality, even though you don't know that Obamacare is doing it," Obama said.
Q.: I want to retire at 55 and was under the impression I had to wait until I was 59½ years old to avoid the 10% early withdrawal penalty on my retirement savings. A.: 403(b) plans are retirement savings accounts for certain employees in the nonprofit sector and public schools. “That’s something a lot of people don’t understand,” says Mike Piershale, president of Piershale Financial Group in Crystal Lake, Ill.
British American Tobacco (BATS.L) has offered to buy out U.S. cigarette maker Reynolds American Inc (RAI.N) in a $47 billion takeover that would create the world's biggest listed tobacco company with brands including Newport, Lucky Strike and Pall Mall. The cash-and-stock deal would mark the return of BAT to the lucrative and highly regulated U.S. market after a 12-year absence, making it the only tobacco giant with a leading presence in American and international markets. A Reynolds takeover by BAT, which already owns 42 percent of the U.S. group, has long been seen as part of an inevitable wave of global consolidation in a mature industry.
Mirror, mirror on the wall, which asset is most mispriced of all? According to a Goldman Sachs alum who predicted the financial crisis in 2008, it’s gold. The precious metal should be a lot more expensive when the likelihood of a global financial collapse and a move toward negative interest rates is accounted for, says Global Macro Investor founder Raoul Pal, who now sees a U.S. recession within 12 months. Recent losses for gold may have dented investor confidence. Gold GCZ6, -0.09% is up 18% this year, but the first full week of October marked its worst seven-day performance in over three years; it also posted a three-month loss of nearly 6% on a continuous basis. Uncertainty about Brexit and
T-Mobile, the country's No. 3 wireless carrier, will pay $48 million for not clearly telling customers how "unlimited" data plans weren't really, well, unlimited. The Federal Communications Commission said Wednesday that T-Mobile had a policy to slow down the speeds of customers who were the heaviest data users. The FCC said T-Mobile started doing a better job with disclosures in June 2015.
Influential short-seller Jim Chanos, who runs hedge fund Kynikos Associates, has been betting against two companies founded by billionaire serial entrepreneur Elon Musk — Tesla Motors (TSLA) and SolarCity (SCTY). “The fact of the matter is this is a company — in Tesla’s case — that’s now really going to need to step up the production.
A 50-year-old woman who died after a car wreck last month in California is the 11th U.S. victim of Takata Corp.'s defective air bag inflators. The National Highway Traffic Safety Administration confirmed the woman's death on Thursday but didn't release her name. Up to five people also may have been killed by the air bags in Malaysia, bringing the number of deaths globally to as many as 16.
Apple says it has been buying Apple chargers and cables labeled as genuine on Amazon.com and has found nearly 90 percent of them to be counterfeit. The revelation comes in a federal lawsuit filed by Apple against a New Jersey company on Monday over what Apple says are counterfeit products that were sold on Amazon. In the lawsuit, Apple says Mobile Star imprinted Apple logos on cables and chargers that "pose a significant risk of overheating, fire, and electrical shock." It says the chargers and cables were being sold on Amazon as genuine Apple products.
Microsoft shares popped up to an all-time high of above $60 on Thursday as strength in its cloud business helped propel it past Wall Street financial targets in its fiscal first quarter. Microsoft stock was up over 5% on the solid beat on the top and bottom lines in after-hours trading. Investors are looking for signs of continued growth in Microsoft's all-important cloud computing businesses, as it shifts away from selling boxed software and into a subscription- and usage-based billing model.
AT&T and Time Warner are beginning talks for a potential merger, according to a report from Bloomberg. Bloomberg reported senior executives from both companies have met to discuss business strategies including talks of a potential merger. The talks were "informal" at this time and no financial advisers have been hired, the sources said. Sources previously told CNBC that AT&T was in the market to purchase a media property soon. In order to stay competitive with the likes of Verizon and Comcast, the telecommunications company needs to move into the media space. Doing so would give it the resources to become an advertising giant, because it would own not only Internet and cable access but content
NEW YORK (Reuters/IFR) - The dramatic shift to online shopping that has crushed U.S. department stores in recent years now threatens the investors who a decade ago funded the vast expanse of brick and mortar emporiums that many Americans no longer visit. Some $128 billion of commercial real estate loans - more than one-quarter of which went to finance malls a decade ago - are due to refinance between now and the end of 2017, according to Morningstar Credit Ratings. Wells Fargo estimates that about $38 billion of these loans were taken out by retailers, bundled into commercial mortgage-backed securities (CMBS) and sold to institutional investors.
New York state may soon enact one of the nation's toughest restrictions on short-term rentals offered on online sites like Airbnb. Legislation awaiting action by Democratic Gov. Andrew Cuomo would authorize fines of up to $7,500 for listings that violate a 2010 state law forbidding rentals of less than 30 days when the owner or tenant is not present. The supporters — including labor unions often allied with Cuomo — say Airbnb hurts existing hotels while taking apartments off the long-term rental market, potentially driving up already high housing prices for the people who live in New York City.
By Susan Mathew Oct 21 (Reuters) - Most Southeast Asian stock markets were down on Friday with Philippine shares falling for a second day after President Rodrigo Duterte's overtures towards China caused some uncertainty and dampened investor sentiment
Oct. 20 -- Verizon Communications reported subscriber growth that fell to its lowest level in six years during the third quarter as its rivals took a more competitive stance on pricing. Bloomberg Intelligence's John Butler reports on "Bloomberg Daybreak: Americas."
Rite Aid stock jumped 6 percent Thursday, following a mutual decision with Walgreens Boots Alliance to delay their merger agreement until January 27. The merger agreement was previously scheduled to be completed on October 27. The companies entered into a definitive agreement in October 2015, under which Walgreens would acquire all outstanding shares of Rite Aid for $9 a share. The original terms of the agreement allowed either party to delay the merger until January. Walgreens Boots Alliance is the largest retail pharmacy chain in the U.S. and Europe. Walgreens' stock was trading more than 4 percent higher Thursday. Shares of Walgreens Boots Alliance and Rite Aid have fallen more than 4 percent
India’s quest to become a cashless economy has been dealt a blow by a data breach that compromised as many as 3.2 million debit cards. Prime Minister Narendra Modi urged Indians in a radio address in May to use cashless payments to discourage corruption and keep track of money. Convincing them may get harder after India’s national card payments network said that the data violation led to fraudulent transactions, mainly in China and the U.S.
Prosecutors from France, Belgium, Spain and Morocco called Friday for the ability to unlock phones and computers and to gain access to encrypted communications to aid in the fight against terrorism. Following a two-day meeting in Paris, prosecutors in charge of counterterrorism investigations in the four countries issued a joint statement Friday to "alert" national and international authorities, internet providers, software makers and telecommunication operators about the obstacles posed by data encryption and the locking systems of smartphones and computers. The issue needs a global response since the concerned companies are often not based in the country where an investigation is taking place, French prosecutor Francois Molins said.
Two top lawmakers on Thursday demanded information from a drug company that has raised prices on a leukemia drug, calling increases of tens of thousands of dollars a sign the company puts profits before patients. Sen. Bernie Sanders, I-Vt., and Rep. Elijah Cummings, D-Md., the top Democrat on the House Oversight and Government Reform Committee, wrote ARIAD Pharmaceuticals and asked about price hikes for Iclusig, which is used to treat chronic myeloid leukemia in some people. "These outrageous sales tactics indicate that ARIAD is more concerned with its profit than with its patients," Sanders and Cummings wrote.
The dollar rose to its highest since Feb. 3 against a basket of currencies on Friday as investors increased bets on higher U.S. interest rates, while a measure of world stocks looked set for its first weekly gain in four weeks despite some soft U.S. corporate results. On Wall Street, energy and healthcare stocks weighed on the S&P 500 and Dow, but Microsoft at all-time highs kept the Nasdaq in positive territory.
Churches across the world are joining a Helsinki parish in ringing their bells daily to commemorate civilians killed in the battle for the Syrian city of Aleppo. "After reading the news that day, of Aleppo, we decided to ring funeral bells at 5 p.m. to remember the death. First I just asked a few local churches to join us," Teemu Laajasalo, vicar of the Kallio parish told Reuters.
Despite a slick campaign to lure companies from London to Berlin after Britain voted to leave the European Union, some of those which have moved say it is not as easy as it first appeared. Following the unexpected referendum decision in June, Germany's liberal Free Democrats hired a truck to drive around London with a billboard declaring, 'Dear start-ups, Keep calm and move to Berlin'. An ironic reference to a popular poster entreating Britons to Keep Calm and Carry On at the outbreak of World War Two against then Nazi-ruled Germany, it was soon followed by the opening of an official Berlin marketing office in London.
Admittedly the consumer price index hit just a 1% level but the uplift trend is clear. Factor in the impact of the weak Pound and the falling out of the early 2016 ultra-low oil prices over the next few months from the year-on-year numbers and we will see a 3%+ inflation print in the UK before the end of 2017. Rising inflation however significantly reduces the attractions of bond investment today. That just over 1% yield that you get today for your 10 year UK gilt (government bond) will get nowhere near to covering inflation over the next year and quite conceivably the next few years. If you want to reduce the purchasing power of your investments fast then government bonds are a good place to start…and most corporate bonds will struggle to help you out too. Well the professionals – institutional fund managers – have made their call: they prefer cash. The biggest regular survey of fund managers observed earlier in the week that bond allocations relative to cash allocations is now at its lowest level since July 2006, meaning that professional investors are showing a clear preference for cash over those unattractive bond assets.
WALLDORF, Germany (AP) — German business software company SAP SE on Friday reported third-quarter earnings of $814.6 million.The company missed analyst estimates for net profit, but increased its outlook for the year slightly after recording a 28 percent