The U.S. is calling for North Korea to grant an amnesty for the immediate release of a Korean-American sentenced to 15 years hard labor for "hostile acts" against the state. Kenneth Bae is at least the sixth American detained since 2009. (May 2)
In a story Feb. 23 about a meeting that President Donald Trump held with two dozen manufacturing executives, The Associated Press referred incorrectly to Doug Oberhelman as the CEO of Caterpillar Inc. Oberhelman is the current chairman and former CEO of Caterpillar. WASHINGTON (AP) -- President Donald Trump brought two dozen manufacturing CEOs to the White House on Thursday and declared their collective commitment to restoring factory jobs lost to foreign competition.
Although President-elect Donald Trump has pledged to cut federal taxes, state taxes are rising across the U.S. as financially strapped states search for funds to repair deteriorating infrastructure and close widening budget shortfalls. Alaska currently has no income or state sales tax. Raising existing state taxes or imposing new ones could backfire if they lead to fewer taxpayers.
J.C. Penney (JCP)finally lifted the lid on its plans to downsize its fleet, telling investors on Friday that it would close between 130 and 140 of its stores over the next few months. The retailer made its comments while reporting fiscal fourth-quarter earnings that topped Wall Street's expectations, though revenue and same-store sales fell shy of expectations. The company's shares slipped roughly 9 percent in early trading amid doubts that the store closure plan would be enough to reinvigorate sluggish sales.
Alan Colmes, the radio and television host and commentator best known as the amiable liberal foil to the hard-right Sean Hannity on the Fox News Channel, has died. Fox spokeswoman Dana Klinghoffer confirmed his death Thursday. Fox also aired a tribute to Colmes, narrated by Hannity, and a statement from his family saying that he died Thursday morning after "a brief illness." Colmes was 66 and is survived by his wife, Jocelyn Elise Crowley, the sister of longtime Fox contributor Monica Crowley.
Former House Speaker John Boehner (R-OH) has been watching the controversy over health care play out from the sidelines, and he understands better than most how hard it is to forge a compromise within his party, even under the best of circumstances. Boehner is no fan of President Donald Trump, and declared last December that the election campaign had been “the most bizarre political year that we've seen in 100 years.” In the new Trumpian political era, Boehner is persona non grata among many Republicans he once led. While the former speaker’s comments will be taken with a grain of salt by diehards determined to repeal and replace the Obamacare later this year, Boehner on Thursday predicted that Trump and the Republicans would fall far short of their goal.
It's a good thing Popeyes Louisiana Kitchen (PLKI) was bought by Restaurant Brands International (QSR) on Tuesday because its 2016 fourth quarter earnings were far from savory. After Wednesday's market close, Popeyes reported fourth quarter earnings of 44 cents a share, lower than the 47 cents a share analysts expected. Shares of Popeyes fell slightly in after-hours trading to $78.85. Popeyes did post revenue of $61 million for the three-month period ended Dec. 25, compared to Wall Street's expectations of $59.9 million. For the full year, the company posted earnings of $1.98 a share and revenue of $268.9 million. Analysts were anticipating Popeyes to report earnings of $2.11 a share on $267.8
Time is catching up with Coca-Cola (KO) . For far too long, the soda giant has watched its core products lose favor while continuing to drag its feet when it comes to cost-cutting and revamping its business. What's an investor to do? The iconic soda company just released its latest batch of quarterly results, and the news was bad. Revenues dropped yet again, by some 5.9%. And volume for its core soda portfolio dropped about 2%. Profits were also under pressure. But it gets worse. Coca-Cola stated that it doesn't foresee a profit improvement in 2017. The company expects earnings to decline 1% to 4%. And some analysts think that might even be too optimistic. Now, with its core portfolio of products
Sears laid off 130 employees at its corporate offices on Thursday as the company struggles to stay afloat after a dismal holiday quarter. Sears CEO Eddie Lampert announced the layoffs in an email sent to corporate employees on Thursday afternoon. "This activity is necessary to create a more nimble operating structure capable of driving the company's strategic transformation forward," Lampert wrote in the email.
The Progress 66 Russian cargo spacecraft docked with the International Space Station early Friday morning. It's the second cargo spacecraft to dock with the space station in about 24 hours. (Feb. 24)
A project of Google-parent Alphabet (GOOGL) has filed a suit against Uber, after a botched email exchange revealed "striking resemblance" between the companies' self-driving car designs. Engineers at Google's self-driving car company, Waymo, were "apparently inadvertently" copied on an email from a company providing components for Uber's self-driving car project that allegedly revealed drawings of Uber's technology, according to a lawsuit filed in San Francisco court on Thursday. The drawings of the 3-D sensors contained Alphabet's trade secrets, the lawsuit claims.
You can find plenty of employers that offer retirement plans with generous matching contributions and low-cost investing options. But if you want access to the 10 best 401(k) plans, it helps to be an airline pilot, a quarterback, a roughneck or a chemist
Sears Holdings Corp. (SHLD) is a wheel that never stops turning. Each time investors write off the struggling department store, hedge fund manager and Sears CEO Eddie Lampert pumps some more money into the company in order to continue funding his turnaround plan. More recently, Sears announced a restructuring plan in the hopes of shaving more costs. The road ahead for Sears is fraught with uncertainty, however. Sears is trimming its assets in order to have more liquidity to restructure the company. Stanley Black & Decker (SWK) has already acquired the well-known Craftsman tools brand from Sears for $525 million. Combine that with the company's sale-leaseback transaction with CBL & Associates,
Not everyone is envisioning a retirement of cat-food dinners and poor health. More than 90% of baby boomers and members of Generation X surveyed feel that their ideal retirement is “very attainable” or “somewhat attainable.” That’s not too bad considering all the doom and gloom about meager retirement accounts and the anxiety surrounding this phase of life. T. Rowe Price surveyed 2,001 people aged 36 and older who are either retired or have “taken initial steps to prepare for retirement” on their feelings about retirement and financial and personal goals. They seem to be feeling pretty good. “It’s great to see that most people have positive perceptions of this next chapter in their life and that
U.S. Vice President Mike Pence, declaring that the "failed" Affordable Care Act "must go," assured an annual gathering of conservatives that the Trump administration will repeal and replace it, and urged them to mobilize to push back against Democrats. Photo: EPA
Coming in at around $86 billion, Bill Gates has ridden his Microsoft (MSFT) fortune straight to the top of the Forbes list of the world’s richest men. If it did, there’d likely be a new top dog, according to reports that revisited the idea that Vladimir Putin’s net worth, virtually impossible to measure, tops $200 billion. “I believe that [Putin is worth] $200 billion,” he once told CNN.
White House Chief Strategist Steve Bannon made a rare public appearance on Thursday, speaking at the Conservative Political Action Conference outside Washington, DC, where he described what he sees as a “new political order” forming in the US. Bannon was making a joint appearance with White House Chief of Staff Reince Priebus that was moderated by Matt Schlapp, chairman of the American Conservative Union.
It’s not news that department stores and mall brands are struggling, and this morning, another retailer added itself to the list of those taking major cost-cutting measures in order to survive. J.C. Penney has just announced that it will close between 130 and 140 stores and two distribution centers, and lay off about 6,000 employees, according to multiple outlets. The store closures make up 13 to 14 percent of its total brick-and-mortar locations, while the 6,000 workers who will be offered buyouts include those in the retail, supply chain, and corporate departments.
The South China Sea question is rolling toward the Trump White House like a long, low Pacific wave. The strategy is just a piece of what President Trump has to provide. Trump could find a place in the White House attic for Barack Obama’s over-reaching “pivot to Asia” in favor of a wiser policy that acknowledges China’s emerging role in the region as inevitable.
J.C. Penney reported stronger-than-expected results for the fourth quarter on Friday and announced plans to shut down a large number of stores in 2017. The retailer reported adjusted earnings for the quarter of $0.64 a share, higher than analysts' expectations of $0.60 a share. Comparable-store sales also missed slightly for the quarter, falling 0.7% from the same quarter last year.
Warren Buffett 's No. 1 rule of investing is "never lose money," followed quickly by his second rule — "Repeat No. 1." But it's OK to bend this rule — ignore it during times when a stock is purchased at a price that may seem high and make a short-term decline more likely. Berkshire Hathaway (BRK-A) does when it buys stocks of companies that pay hefty dividends and buy back their shares. Berkshire owns 81 million shares of IBM (IBM) and another 61 million shares of Apple (AAPL), a stake that was increased considerably in the fourth quarter.
It can be very difficult to find companies that are both flying under the radar, and still might have potential for gains. One way to find these underappreciated stocks is by looking at companies that haven’t seen their share prices move higher lately, but have observed analysts raising earnings estimates for their stock. One such company that looks well positioned for a solid gain, but has been overlooked by investors lately, is Western Digital Corporation WDC.
Penney's results underscored the brick-and-mortar retail industry's struggles to overcome a drop in traffic in malls and a shift toward online shopping. Penney's comparable store sales fell 0.7 percent in the fourth quarter ended Jan. 28, steeper than the 0.5 percent drop analysts polled by research firm Consensus Metrix had expected. Penney also said that increased promotional activity and handing out more coupons weighed on its margins, which fell 1 percentage point to 33.1 percent.
It looks like people didn't eat up enough Papa John's (PZZA) pizzas during football season as Wall Street bankers had hoped. Shares of the pizza giant plunged 8% to $78.83 Wednesday after fourth quarter sales fell short of Wall Street's estimates. Papa John's fourth quarter adjusted earnings came in at 88 cents a share, higher than the 66 cents expected by analysts. But, the company posted weak revenue of $439.6 million, missing Wall Street's estimates of $447 million. System-wide same-store sales in North America rose 3.8%, falling short of estimates for a gain of 5.9%. It's not hard to blame Wall Street for the harsh reaction: shares of Papa John's have surged about 38% over the past year,
Shares of Hewlett Packard Enterprise tanked about 6 percent after hours on Thursday after the company reported lower-than-expected quarterly revenue and slashed its outlook for the year. The company reported mixed fiscal first quarter results after the bell, with earnings of 45 cents per share, adjusted, on revenues of $11.41 billion. Analysts polled by Thomson Reuters expected earnings of 44 cents per share on revenue of $12.07 billion. Revenue was down 10 percent from the year-ago period, amid downticks in the company's software and enterprise services. Enterprise networking was a particularly sore spot for the company, with sales down 33 percent in the quarter. The company also said it will
To reach your savings goals, you don't necessarily have to create a highly-detailed budget that allocates money for categories like clothes, coffee and bars. Start by checking out how much you should have saved at every age .