Lisa Colagrossi reports on the gas shortage following Hurricane Sandy
Rolls-Royce said its new Trent engine has powered a Boeing 787 Dreamliner in the air for the first time during a flight from Boeing Field Wednesday. The Trent 1000 TEN engine – TEN stands for thrust, efficiency and new technology – has been picked to power the first test flight of the Boeing 787-10 version of the Dreamliner next year, Rolls Royce North America spokesman Joel Reuter said. Wednesday's test flight took a Boeing 787-8 to an altitude of 43,000 feet and speeds near Mach 0.85 (Mach 1 is the speed of sound). Tests included in-flight restart performance and engine handling, Rolls-Royce said in a statement. The Trent 1000 powered the first Dreamliner 787-8 into service in 2011 and the
Sears reported mounting losses on Thursday and acknowledged that the company has "fallen short" of expectations for a recovery. Same-store sales dropped 7.4%, including a 10% decrease at Sears stores and a 4.4% decrease at Kmart stores. Sears' cash and equivalents fell 12% to $258 million in the period.
Are you behind on saving for retirement? Even if you don’t know what counts as "behind," you're likely to need to step up your efforts to build your nest egg. A June 2015 Government Accountability Office analysis found that that average Americans between the ages of 55 and 64 have accrued about $104,000 in retirement savings. Sound like a lot? Not when you realize that sum would translate into a $310 monthly payment if your money were invested in a lifetime annuity. Even if you're far from that age bracket, let this serve as a wake up call. You don’t want to stop working without enough money to live on. And what better time than the beginning of a new year to make a resolution that you’re going
The top court in China has ruled in favour of former Chicago Bulls player Michael Jordan, allowing him the rights to the Chinese version of his name. Jordan in 2012 filed the lawsuit against Qiaodan Sports, saying the company had built its business around his Chinese name and his jersey number 23 without his permission. In his lawsuit, Jordan's lawyers argued that the company had damaged his legal rights to his name and asked that its trademark registrations be removed.
Ducati North America CEO Jason Chinnock discusses the state of the motorcycle industry on Lunch Break with Tanya Rivero and reveals the company's new $80,000 Superleggera, the fastest twin-cylinder motorcycle in history. Photo: Ducati
After Chyna (real name Angela Renée White), 28, filed to legally trademark her name as “Angela Renée Kardashian” to use while working in entertainment and on her social media, the sisters’ — Kim, Kourtney and Khloé Kardashian — companies opposed the request. “The Kardashians, like Angela and my other clients are very protective of our marks, I think for us this is going to be a clear case win, because it’s actually her name, it’s not a poaching.
(Flickr / kristina dymond) The slow and steady decline of retail that's shuttering department stores and putting malls out of business is also taking a toll on Starbucks. "We can't hide behind the fact that there is a seismic change that we're experiencing
If you dig through the troves of financial advice out there, you're sure to find contradictory guidance. "Those two pieces of advice, if you follow them, will destroy your financial life," he told Business Insider during a Facebook Live.
U.S. home values rose again in October, and a handful of states reported increases exceeded the national average. Housing prices increased 6.7 percent in October compared to the same month a year ago, according to the latest figures from CoreLogic. Home
As the weekend approaches, the Dow (Dow Jones Global Indexes: .DJI) celebrates another new high and traders are afraid to get in the way of a steamroller market even as many stocks seem to be pricey. The Dow closed up 65 points Thursday, at 19,614, in its 19th gain in 23 sessions, and its 13th new high since Election Day. Paul Hickey, co-founder of Bespoke, said he is watching the net new highs in the S&P 500, and at 18.6 percent Wednesday they were at the highest level since late 2014.
U.S. crude oil production is not expected to rise much next year from the current levels of around 8.6 million bpd, energy mogul Harold Hamm said at the S&P Global Platts Global Energy Outlook Forum on Thursday. If the United States were to go all out with oil production, it could probably double to 20 million barrels per day, according to Hamm, but that it would be “foolish for us to do that” precisely because it would create an oversupply. According to Hamm – chairman and CEO of Continental Resources and Donald Trump’s energy advisor – U.S. production needs around 18 months to recover to 2015 highs if oil prices remain at US$50-55.
A company with a history of oil field-related spills in North Dakota and Montana is being hampered by winter weather in its cleanup of a "significant" pipeline break that leaked crude oil into a tributary of the Little Missouri River in western North Dakota, a regulator said Thursday. Bill Suess, an environmental scientist with the North Dakota Health Department, said the Belle Fourche Pipeline Co. spill was discovered Monday by a landowner near Belfield. The cause of the leak is under investigation and the amount of the spill is unknown, in part because of recent blizzards and subzero temperatures throughout North Dakota, he said. The spill in the creek is about 20 miles upstream of the Little Missouri River.
Donald Trump is still talking tough about China — even with all the presidential campaigning behind him — and some investors are starting to wonder who gets hit hardest if he puts words into action. Perhaps most concerning to Wall Street are the ramifications of the president-elect's talk of a punitive 45 percent tariff on goods imported from China, the world's second-biggest economy. The current average tariff on imports from China is about 3 percent, according to the U.S. International Trade Commission. Some economists say a tariff of that size could slow China's economy by 3 percentage points, that according to Capital Economics. "The direct impact on GDP would be sizable. The value added
Wealthy people usually aren't born that way. Most spend their lives amassing their fortunes by working hard, spending little, saving a lot and investing wisely. It may sound like a simple strategy, but the fact that the vast majority of Americans fall short of millionaire status proves that it's easier said than done. Then again, 10.4 million households in the U.S. have $1 million or more in investable assets, according to market research and consulting firm Spectrem Group, and their ranks are growing. So it's not impossible. Read on to learn what you might be doing to keep yourself out of the millionaire's club. More importantly, find out how you can change your ways and build your own seven-figure
Donald Trump has demonstrated pretty remarkable flexibility on any number of issues over his years in public life, and that was never more on display than Wednesday when it was announced that he had been named Time Magazine Person of the Year.
The stock of Southwest Airlines had investors salivating on Wednesday as transports surged. Yet according to CEO Gary Kelly, the secret sauce to the company's competitiveness is its culture. "Our people are fantastic, it really is what sets us apart competitively in the industry and they are the ones that have made Southwest so successful," Kelly told "Mad Money" host Jim Cramer. Southwest began operating in 1972, and during the span of its 45-year history, the company has never a single layoff or pay cut for any employee. It has also been profitable every year since its first full year of operation. "There is a lot to a culture, and it's easier to have a strong culture if you feel like you're
Dec.08 -- Taiwan is again a potential flashpoint in U.S-China relations, after Donald Trump broke protocol by talking with Taiwanese President Tsai Ing-wen. Taipei is also re-asserting its claim over contested territory in the South China Sea. Bloomberg's Stephen Engle reports from Taiping in the Spratly Islands.
China is to halve the cash machine limit for certain cardholders visiting the gambling enclave of Macau, in what analysts said was its latest effort to curb massive capital outflows caused by the falling yuan. From Saturday, punters using the UnionPay system -- around half of those visiting the city from the mainland -- will only be able to get 5,000 patacas (around $600) each time they go to the ATM, the Monetary Authority of Macao said. The move was to "further strengthen the measures to regulate Mainland bank card cash withdrawals," it said.
Tech giant Microsoft wants to encourage more children to develop an interest in coding. It's pitch? Try an hour-long online coding tutorial developed by the team behind the popular game Minecraft. The free online tutorial, called Minecraft Designer, allows a user to program their own Minecraft game in a visual drag-and-drop workspace, where they learn basic concepts such as debugging and repeat loops. After launching the tutorial, users navigate through a series of tasks - the first couple of tasks make chickens move around a Minecraft map. Users arrange a sequence of commands to make the chickens turn, move forward, drop items and even cluck and then test out their "code." "The tutorial is a
A new client recently arrived in certified financial planner Stephanie Genkin's office with a troubling debt situation: $250,000 owed on student loans and $25,000 in credit card debt. The client "was focused on trying to pay down the student loan, but I saw the danger more in the credit card debt for a couple of reasons," said Genkin, founder of My Financial Planner. "It showed she couldn't afford her lifestyle when she rang up that debt, and the interest rate on it was about four times higher than her student loan debt." It's a scenario encountered all too often by Genkin and other financial advisors: People saddled with different types of debt but struggling to pare it down in the most strategic
If you ask many retirees what their life is like, they will probably tell you that they are as busy as ever. Every day is full of errands, shopping, household chores, yard work, TV and movies, club meetings and all sorts of other things. Their calendars
The Senate will take up the repeal of the Affordable Care Act on the first day of the new Congress, Jan. 3, setting up an historic clash between President-elect Donald Trump and his GOP allies and Democrats and an array of health care industry groups over the future of the government health care system. Senate Majority Leader Mitch McConnell (R-KY) announced Tuesday that the Obamacare repeal would be “the first item up in the new year,” after conferring with Vice President-elect Mike Pence and other GOP leaders.
The coming Donald Trump revolution has given markets a "shot of adrenaline" on expectations of a more pro-growth presidency, Fidelity Investments' Jurrien Timmer told CNBC on Thursday. "The markets had gotten completely used to secular stagnation as the regime forever, ... and now we have something much growthier and more inflationary, and that changes the leadership," Timmer told "Squawk Box." "You go from global to domestic, from large to small, from utilities to financials and industrials, so it's a big shift," he said. Factor in the fact that money once flowing from equities into bonds has now reversed course, and also consider the time of year, which is typically the strongest for the market.
After serving in the Air Force and injuring both his knees, Clay Luthy had trouble finding work when he got back home. The one main reason: Charlotte, a 10-year-old golden retriever who was by his side constantly as a service dog.
President-elect Donald Trump ran on a platform of restoring glory to American manufacturing, but since winning, he's shown that he doesn't know much about how stuff gets made in the 21st century. For example, during the campaign he attacked Ford for shifting small-car manufacturing to Mexico (where, by the way, Ford has operated plants since the 1960s) and later took credit on Twitter for preventing Ford from relocating an entire Kentucky factory south of the border when in fact Ford was only planning to move production of a vehicle.