!: 2 years old and still FREAKING HILLARIOUS (CNN) Felix Kiprono, a lawyer in Nairobi, Kenya, has his eye on someone special: President Obama's daughter Malia. His offer to win her hand? Fifty cows, 70 sheep and 30 goats. "People might say I am after the family's money, which is not the case. My love is real," he told the Nairobian newspaper. Moreover, he adds, he's been faithful to his beloved since he first became aware of her. "I got interested in her in 2008," he said. "As a matter of fact, I haven't dated anyone since and promise to be faithful to her. I have shared this with my family and they are willing to help me raise the bride price." He's currently working on a letter to announce his intentions and plans to give it to the local U.S. Embassy. According to prices on Africa Farming, Kiprono's offer could be worth in excess of $90,000. There are some issues, of course. For one, Malia Obama is 16. For another, she'll have to develop a taste for village life. "Ours will be a simple life. I will teach Malia how to milk a cow, cook ugali (a starchy dish) and prepare mursik (a sour milk) like any other Kalenjin woman," he said.
Baby boomers, born between 1946 and 1964, are heading into retirement in droves (about 10,000 a day, in fact). Along with the aging of this iconic cohort come lots of data about their poor preparation for their golden years. Insufficient preparedness and lack of financial resources for decades without steady employment paint a gloomy picture for many retirees. Are we facing a Baby Boomer retirement crisis? There may not be an easy answer, but read on for data that helps shed some light into this large generation's economic situation. (For related reading, see: How Baby Boomers Will Change the Way Others Retire.) Baby Boomer Retirement Research GoBankingRates recently published research conducted
The pharmaceutical company Mylan, which makes the EpiPen, is now saying it understated the profits it derives from the life-saving allergy drug by 60% in a congressional hearing last week, according to The Wall Street Journal. Mylan paid a 7.4% tax rate last year after moving its business to The Netherlands for tax purposes. The company's CEO, Heather Bresch, was called to the House of Representatives to answer for why her company had raised the EpiPen's price by 500% since it purchased the drug in 2007.
Shares of Bank of America (NYSE:BAC) are off to a forgettable start this week, down more than 3% as the closing bell on Monday approaches. An SEC investigation found that Merrill Lynch caused market disruptions on at least 15 occasions from late 2012 to mid-2014 and violated the Market Access Rule because its internal controls in place to prevent erroneous trading orders were set at levels so high that it rendered them ineffective. For example, Merrill Lynch applied a limit of 5 million shares per order for one stock that only traded around 79,000 shares per day. Other trading strategies had limits set as high as 25 million shares, which Merrill Lynch reduced to 50,000 shares after the SEC's investigation began.
Philippine President Rodrigo Duterte said Monday he would seek closer economic ties with China and Russia, as the local currency and stock market extended declines following Western criticism of his deadly war on crime. The peso hit a seven-year low to the dollar on Monday and foreign investors pulled out from local shares for a 23rd straight day, which analysts said was due to growing uncertainty over Duterte's handling of what has been one of Asia's best-performing economies in recent years. "I will open trade alliances with Russia and China so all you other investors, just go.
In a job interview, every little thing matters — from your ability to make eye contact to the color of your suit. So you'll want to pay extra close attention to what you do with your hands while you're sitting across from your interviewer. Below, we'
Cortec Group is poised to make a killing on its investment in a cooler maker if it successfully goes public. The small private-equity firm could make about $3.3 billion on the initial public offering of Yeti Holdings Inc., which could happen as soon as October, according to a story by The Wall Street Journal's Matt Jarzemsky. Cortec invested about $67 million in Yeti back in 2012, which means it could make 50 times its money in four years, The Journal reported.
It's often best for investors to largely ignore the stream of upgrades and downgrades coming from analysts. The worst mistake an investor can make is acting on the opinion of others without doing research of his or her own. It can still be useful to see what analysts are saying, but things like price targets should be taken with a grain of salt. Recently, shares of networking-hardware giant Cisco Systems (NASDAQ:CSCO) received a price-target bump from Deutsche Bank. Citing new growth areas like cloud security, Deutsche raised its price target on Cisco stock to $37, up from a previous target of $35. This new price target implies that shares of Cisco could rise 20%. Is Cisco really worth $37 per
Jan Brown pores over his royalty statement and wonders where all the money went. A few months ago, the nation's second-largest natural gas producer siphoned $2,201 worth of gas from his 240-acre property — but paid him only $359 after taking deductions for transportation and processing. Brown, 59, who relies on the royalties as his sole source of income, says the deductions are outrageous and claims his lease forbids them.
Leading U.S. national wireless carrier T-Mobile US Inc. TMUS recently entered into an agreement with cable MSO (multi service operator) Charter Communications Inc. CHTR to acquire a license of 700 MHz A Block spectrum for Eastern Montana from the latter
A Delta flight from Detroit to Amsterdam had to be diverted to Manchester, England, for two hours Saturday into Sunday after smoke and an unknown smell developed in the passenger cabin. A Delta official and a senior U.S. official told ABC News that the emergency on Flight 138 was caused by a Samsung tablet. The Delta official explained that the tablet fell inside a seat and became jammed after the seat either reclined or was returned to its upright position. Underneath the seat cover, the tablet and foam then started smoking, and passengers could smell a strange odor. The flight was diverted to Manchester, where the seat was replaced. After two hours on the ground, the flight was airborne, en
TerraForm Power Inc. and TerraForm Global Inc., the yieldcos founded and controlled by bankrupt clean-energy giant SunEdison Inc., have begun settlement talks with their parent over more than $3 billion of claims they assert against it.Claims include
Federal Housing Administration loans and conventional loans remain the most popular financing types for today's mortgage borrowers. But which program makes the most financial sense for you? Here's how to decide. The Nuts & Bolts of FHA Loans FHA loans
The focus of the news today is not what issues may loom large in tonight’s presidential debate, but whether NBC anchor Lester Holt, a Republican, should act as fact-checker. The liberal media is keen for him to do so, suggesting that Donald Trump has littered the campaign trail with falsehoods and that calling him out on his lies is Holt’s duty to American voters. While Trump has indeed bent the truth in any number of ways these past several months, there is a vast difference between the lies told by Hillary Clinton and those from the GOP nominee.
Williams Companies, Inc. WMB and its master limited partnership, Williams Partners L.P. WPZ, recently announced that they have completed the sale of their Canadian businesses to Inter Pipeline Ltd. for combined cash proceeds of approximately $1.06 billion
On Monday, India sent a rocket into space which successfully launched eight satellites in one go. The main purpose of the launch which took place at the Sriharikota space centre off India's eastern coast, was to put into orbit SCATSAT-1, a satellite that will help weather forecasting. Five of the other satellites that were on board are foreign, from the US, Canada and Algeria. In June India launched 20 satellites in a single mission, the most in the history of the country's ambitious space programme. Seventeen of those were foreign. Monday's launch takes the number of foreign satellites launched by India to 79. This has earned the country more than $120m (£92m). And India's space agency has already
Shares of Oracle Corporation ORCL have witnessed a moderate rise over the last 12 months. The company’s stock provided a return of 8.8% compared to the S&P 500’s 12.0% over the period. While emerging opportunities in the Software as a Service (Saas) and
Indirectly warning the United States, the head of Iran's atomic energy agency said Monday that his country's landmark nuclear deal with could be jeopardized by foot-dragging on sanctions relief, promised in exchange for Tehran's commitment to curb key atomic activities. Iran complains that international financial sanctions are not being lifted quickly enough under the agreement with the U.S. and five other world powers that stipulates a removal of these and other penalties imposed over Tehran's nuclear program.
From 2012 to the end of 2015, the price of gold fell almost 50%. The price of gold is up 26%, more than a 300% premium to the S&P 500's 6% return. Gold's sudden reversal is being driven by the same trend that's driving the U.S. dollar.
Banking analyst Mike Mayo of CLSA said in a note to investors Monday that his firm's support of Wells Fargo Chairman and CEO John Stumpf "is now wavering," in the wake of the fallout from the $185 million secret account settlement. Stumpf's actions so far — covering his initial response through last week's hearing before the Senate Banking Committee — have been "reactionary versus leading," Mayo wrote. Executive pay "clawbacks should be put in place," the analyst added. "We believe Wells Fargo is bigger than the CEO, notwithstanding a good financial track record during his tenure, and there should be no more excuses." Stumpf would stand to walk from the bank with $123.6 million in severance and
As the September 26 to 28 “informal” meeting of OPEC producers in Algeria draws near, media speculation could easily cause mental anguish. On oil news websites simultaneous headlines claim OPEC will both fail and succeed in capping output. Called by OPEC August 8, the stated purpose of the gathering was, “OPEC continues to monitor developments closely, and is in constant deliberations with all member states on ways and means to help restore stability to the oil market”.
With many lawmakers chomping at the bit to return home to campaign for reelection, it’s hard to believe there is any serious talk about another government shutdown. Congress is rushing to complete work on a large stop-gap spending package that would keep the government operating until at least December 9 – well past the November election and the start of a new fiscal year.
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Claiming Social Security is one of the most important financial decisions you'll ever make. Many Americans prefer to turn to the Social Security Administration for help in figuring out when to take their Social Security benefits, and the SSA provides a lot of valuable information both on its website and through its personnel. Yet a recent study from the General Accounting Office took a closer look at the way that the SSA interacts with people filing for Social Security benefits, and it found that in the process of handling in-person claims, the SSA's claims specialists didn't always provide all the key information that people need in order to make an informed choice. Below, we'll look at six