A fire that destroyed a Tesla electric car near Seattle began in the vehicle's battery pack, officials said Wednesday, creating challenges for firefighters who tried to put out the flames.
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.
(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
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
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.
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.
A Lowe's hardware store in Abilene, Texas, is feeling the praise online after hiring a veteran and his service dog. Air Force veteran Clay Luthy was having difficulty finding a job due to his service dog named Charlotte, who accompanies him at all times.
A plane belonging to Pakistan's national carrier crashed on Wednesday with about 40 passengers and seven crew members on board, police and an airline spokesman said. (Dec. 7)
With Green Party presidential candidate Jill Stein’s quest to recount the votes in three states running into serious problems, the latest long-shot hope for people still convinced that Donald Trump can be prevented from becoming president is a rebellion within the Electoral College. As most of us learn in middle school civics and quickly forget, when voters cast a ballot for president they are actually choosing “electors” who have pledged to cast their votes for a specific candidate when the Electoral College convenes a few weeks after the election. Whichever presidential candidate manages to receive 270 votes in the Electoral College is made president.
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
Dec.07 -- Philippine leader Rodrigo Duterte is working on his own impression of President-elect Donald Trump. In a speech in Manila, Duterte imitated Trumps voice and accent from a telephone call between the two earlier this month.
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
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.
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
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.
Soaring bank stocks look ripe for a pullback, some market watchers are warning. "The market has gotten way ahead of itself. And I think it's going to be the Fed that is going to put the brakes on this whole notion," Boris Schlossberg, managing director of FX strategy at BK Asset Management, said Tuesday on CNBC's "Power Lunch." A handful of banking giants hit multiyear highs Tuesday as the financial sector continues to thrive in the weeks since the U.S. election. Shares of Bank of America, Citigroup and Goldman Sachs hit their highest levels since November 2008, August 2015 and November 2007, respectively; JPMorgan hit an all-time high. These records come as the financial sector has surged since
Cisco Systems CEO Chuck Robbins told CNBC on Wednesday if the company could repatriate overseas capital, it would do a combination of dividends, buybacks and M&A activity. Repatriating cash, or bringing international profits back to the U.S., would ultimately create some jobs for Cisco, Robbins said on "Squawk Box" on Wednesday at the Business Roundtable meeting in Washington. Many major U.S. corporations keep piles of cash overseas because they don't want to pay steep taxes to bring it back home. Cisco has more than $60 billion abroad, and it could be one of the biggest beneficiaries of repatriation measures proposed by President-elect Donald Trump. "I think it would for [create jobs] for Cisco,
Oil rebounded from the week's lows and hovered above $50 a barrel on Thursday as market watchers focused on an upcoming weekend meeting between OPEC and non-OPEC producers that may result in an agreement to cut crude output further. Brent and U.S. oil prices gained support early from a slightly weaker dollar, but the U.S. currency turned positive as the euro fell on the European Central Bank's decision to extend but reduce its bond-buying program. Oil producers will meet in Vienna on Saturday to see whether those outside the Organization of the Petroleum Exporting Countries will cut production to help ease a global supply glut that has pressured prices for more than two years.
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.
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
US President-elect Donald Trump has revealed that SoftBank Group plans to invest $50bn (£39.48) in the country and create 50,000 new jobs. The Japanese telecom and internet giant's plans were revealed by Trump on Tuesday (6 December) in the lobby of Trump Tower in Manhattan. Following a 45 minute meeting between the incoming president and SoftBank CEO Masayoshi Son, Trump said, "Ladies and gentlemen, this is Masa [Son] from SoftBank of Japan, and he's just agreed to invest $50 billion in the United States and [create] 50,000 jobs." Son confirmed the same and added that the plan was to "invest into new startup companies in the United States". While both Trump and the Japanese billionaire did not
The tape remains pretty resilient, doing what's necessary to keep the indexes hovering near their highs. Different sectors are taking their turn in the lead on a day-to-day basis. Riskier stocks have been leading for weeks, the financials won't rest, corporate credit is firm, semis are well-bid and the transports are in a momentum trance. So it's hard to find too many alarming cracks in the market just yet. Here's what I'm watching heading into the closing bell: Trump knocks biotech The nasty PEOTUS-prompted drop in health care is masking a strong market beneath the surface. Two-thirds of NYSE stocks are higher and the equal-weighted S&P is up twice as much as the benchmark. Money continues to
Stocks are on fire with the Dow soaring over 200 points, and the S&P 500 hitting a new all-time high. Catch The Final Round at 4 p.m. ET with Jen Rogers and Yahoo Finance’s Jared Blikre. Stocks sinking to end the day include Pioneer Energy Services after it announced it was expanding its share issue as a way to pay down debt, Pfizer after a British regulator hit the pharma giant with a $106 million fine for imposing a 2600% price hike on an epilepsy drug, and Alere.
Senators questioning the logic of a proposed merger between AT&T and Time Warner turned their focus to the nickels and dimes of the issue, at least as to how the $85.4 billion mega-deal would affect Americans. AT&T CEO Randall Stephenson assured the members of a Senate antitrust panel Wednesday that yes, "We will bring the consumers better price options than what they have today." He said, though, that it wasn't possible at this point to separate how much of the anticipated savings would go to customers of the company's DirectTV, broadband and mobile phone services. Stephenson and Time Warner CEO Jeffrey Bewkes made the case that the combined company would push technology forward and lead to more choices for customers.