• China's FedEx probe should not be seen as retaliation: Xinhua
    Reutersyesterday

    China's FedEx probe should not be seen as retaliation: Xinhua

    China's investigation into FedEx Corp over misdirected mail should not be regarded as retaliation against the U.S. company, state news agency Xinhua said on Sunday, amid worsening relations between China and the United States. The inquiry was aimed at sending a message that any economic entity in China should abide by the country's laws and regulations, it said in a commentary. "China is willing to share the opportunities in its courier market with foreign investors.

  • Financial Timesyesterday

    Hargreaves Lansdown chief waives bonus until Woodford is fixed

    p The chief executive of Hargreaves Lansdown is forgoing his bonus of as much as £2.1m until fund manager Neil Woodford's troubles are resolved, a person familiar with the matter said. br / Chris Hill has already apologised to clients of the UK's largest investment fund supermarket whose funds have been trapped following the freezing of the Woodford Equity Income fund. He has also launched an internal investigation to make sure his company recommends products in an unbiased manner.

  • Reuters15 minutes ago

    UPDATE 1-Keane Group to buy C&J Energy for $746 mln

    Oilfield services company Keane Group Inc said on Monday it will buy rival C&J Energy Services for $745.7 million in an all-stock deal, as it looks to scale up amid spending cuts by crude producers. C&J shareholders will get 1.6149 Keane shares for each share held and a dividend of $1 per share before the deal closes. The offer values C&J at $11.29 per share, according to Reuters' calculation, a 5.3% premium to stock's close on Friday.

  • TipRanks23 hours ago

    Goldman Sachs: 5 ‘Superstar’ Stocks To Buy Now

    Goldman Sachs has a new strategy for investors to consider. The firm has now revealed that the most dominant companies in an industry tend to outperform companies with a smaller percentage of market sales. “The market positioning of superstar firms often allows for greater bargaining power over consumers and workers and higher profitability,” Goldman's senior US equity strategist David Kostin told investors.

  • Russell Rebalancing Expected to Boost Recent IPOs
    Investopedia47 minutes ago

    Russell Rebalancing Expected to Boost Recent IPOs

    This year's realignment will see close to $1 billion pumped into newly-minted stocks from recent IPOs, as funds that track the Russell benchmarks will need to buy over $326 million worth of Uber stock, $93 million of Lyft, $67 million of Beyond Meat and $26 million of PagerDuty, according to Min Moon, a managing director at J.P. Morgan Chase & Co. quoted by the Journal. Another $400 million worth of 20 other recent IPOs will also be added to the Russell 2000 index, which is comprised of smaller companies. With such large sums of cash being shifted in and out of different stocks, prices tend to move around a bit as well.

  • USA TODAY18 hours ago

    Are you in the middle class? Here's one way to know your status

    Like many Americans, Chris Gray got into financial trouble when he accumulated large medical expenses – in his case, for hip surgery four years ago. "The medical bills just start piling up, especially if you can't work," said Gray, a 37-year-old Phoenix resident who works in sales and delivery for a flooring company. Gray's credit score dropped into the subprime category, which made it harder to get loans at attractive rates of interest.

  • What You Need to Know About Capital-Gains Taxes (but Probably Don’t)
    The Wall Street Journal9 hours ago

    What You Need to Know About Capital-Gains Taxes (but Probably Don’t)

    The law is a lot more complicated than many people think.

  • Alibaba proposes one-to-eight stock split ahead of up to $20 billion HK listing
    Reuters5 hours ago

    Alibaba proposes one-to-eight stock split ahead of up to $20 billion HK listing

    China's Alibaba Group Holding has proposed a one-to-eight stock split ahead of a listing in Hong Kong later this year that is expected to raise up to $20 billion. The split, to be presented to shareholders for a vote at an annual general meeting in Hong Kong on July 15, will increase flexibility in the firm's capital raising activities, including the issuance of new shares, the e-commerce giant said. The firm's board recommends shareholders to vote in favour of the proposal, it added in its statement dated Friday but published on the company's website on Monday.

  • Huawei Braces for 40-60% Drop in Overseas Smartphone Sales
    Bloomberg9 hours ago

    Huawei Braces for 40-60% Drop in Overseas Smartphone Sales

    Huawei Technologies Co. is preparing for a 40% to 60% drop in international smartphone shipments as the Trump administration's blacklisting hammers one of the Chinese tech giant's most important businesses. Selina Wang reports on "Bloomberg Daybreak: Asia."

  • Here's the secret for living longer and loving retirement
    USA TODAY20 hours ago

    Here's the secret for living longer and loving retirement

    Early retirement is a popular dream with a whole movement devoted to it: FIRE, or financial independence, retire early. A December 2017 paper by Professors Maria D. Fitzpatrick and Timothy J. Moore for the National Bureau of Economic Research showed male mortality rates rose 2% starting the month men turn 62.

  • Did the Markets Break Jerome Powell? We’re About to Find Out
    Bloomberg2 hours ago

    Did the Markets Break Jerome Powell? We’re About to Find Out

    This week's Federal Reserve decision will be the most consequential one yet under the leadership of Chair Jerome Powell. Sure, Fed officials will almost certainly leave interest rates unchanged, and they won't do anything with the central bank's balance sheet beyond what they have previously indicated. But the move in financial markets has been so swift, with traders so convinced that policy makers will lower interest rates imminently, that every change in their statement's wording, every syllable uttered by Powell during his press conference, and any tweak in the “dot plot” will be scrutinized as much as ever.

  • TheStreet.com19 hours ago

    Buy 3M for Its Dividend and Becoming 'Too Cheap to Ignore'

    3M is a multi-national technology conglomerate that manufactures industrial, safety and consumer products including the ever-popular post-it notes. The daily chart for 3M shows a huge price gap lower on April 25, after it reported an earnings miss and disappointing guidance. The weekly chart for 3M is negative but oversold with the stock below its five-week modified moving average of $175.95 and below its 200-week simple moving average or "reversion to the mean" at $190.50.

  • USA TODAY2 hours ago

    This big bank is eliminating all fees on checking and savings accounts

    The change will affect the bank's 1 million customers who have a Discover deposit account and comes after the bank piloted a program that forgave the first fee a customer incurred. What we keep hearing resoundingly – and not just from Millennials and Gen Z – is that there's been a fundamental change in how people think about fees, said Arijit Roy, vice president of deposits at Discover. "They create a very negative emotion, so we thought we take the next step to eliminate all fees."

  • TheStreet.com21 hours ago

    The Five Most Important Lessons I've Learned in 25 Years of Trading

    In the many years I've traded, I've heard an uncountable number of predictions and forecasts. Wall Street loves predictions and forecasts because that is basically what they sell. The predictions and forecasts are interesting, and can help us prepare for volatility ahead, but it is the reaction to changing events that is the most important.

  • TheStreet.com19 hours ago

    Jim Cramer: A 'Hard Left' Democratic President Would Be a 'Disaster' for Stocks

    "Until [former Vice President] Joe Biden entered the race, every candidate was as far left as I have ever seen in my life," Cramer said during an exclusive call with members of his Action Alerts PLUS club for investors. Cramer said some common positions among many of the 2020 Democratic candidates -- from support for "Medicare for All" to promises of cracking down on Wall Street -- could spell bad news for stocks. "Whether they are running to break up the big techs or to have single-payer medicine instead of health insurance or if they favor jailing innocent bankers, they are a motley crew of hard lefters that will be a disaster for the stock market unless they gravitate to the right," Cramer said.

  • China Government Bonds Favored, Deutsche Bank's Liu Says
    Bloomberg7 hours ago

    China Government Bonds Favored, Deutsche Bank's Liu Says

    Linan Liu, Greater China rates and foreign exchange strategist at Deutsche Bank, talks about the Chinese economy, policies and bonds. She speaks on "Bloomberg Markets: China Open."

  • Huawei CEO says underestimated impact of U.S. ban, sees revenue dip
    Reuters5 hours ago

    Huawei CEO says underestimated impact of U.S. ban, sees revenue dip

    Huawei Technologies Co Ltd's founder and CEO Ren Zhengfei said the impact of a U.S. ban on the Chinese company was more severe than expected and warned that revenue would dip to around $100 billion this year and the next. This is the first time that Huawei has quantified the impact of the U.S. action against the company and Ren's downbeat assessment comes after weeks of defiant comments from company executives who maintained Huawei was technologically self-sufficient. Huawei had not expected that U.S. determination to "crack" the company would be "so strong and so pervasive", Ren said, speaking at the company's Shenzhen headquarters on Monday.

  • This New York-listed Chinese electric carmaker’s flagship vehicle keeps catching fire
    Quartz4 hours ago

    This New York-listed Chinese electric carmaker’s flagship vehicle keeps catching fire

    Even though electric vehicles are less likely to catch fire than gasoline-powered cars, cases of EVs bursting into flames are nonetheless unsettling—especially when they happen to prominent companies like California carmaker Tesla and New York-listed Chinese car brand NIO. NIO's flagship battery sports utility vehicle ES8 caught fire in China's central Wuhan city on Friday afternoon (June 14), local newspaper Chutian Metropolis Daily (link in Chinese) reported. A witness at the scene told the newspaper he saw black smoke and fire coming from the seven-seater's chassis, while firefighters said there was a small explosion when they tried to put out the fire.

  • Financial Timesyesterday

    London-Shanghai stock link hailed as ‘groundbreaking’

    A long-delayed programme to link the London and Shanghai stock exchanges will officially launch on Monday, allowing global investors to access shares in Chinese companies and Chinese investors a chance to buy LSE-listed stock. The scheme, originally scheduled to begin last year, will be launched on the sidelines of a visit by Chinese vice-premier Hu Chunhua to London, during meetings with UK chancellor Philip Hammond. “London is a global financial centre like no other, and today's launch is a strong vote of confidence in the UK market,” Mr Hammond will say.

  • USA TODAY2 hours ago

    Fixed-income investments like bonds aim for steady income, lower risk in your portfolio

    Dennis Shirshikov, a financial analyst with entrepreneurship website FitSmallBusiness.com in New York, manages a portfolio for himself, one for his parents and one for his two small children. In each portfolio, Shirshikov, 29, has some fixed-income investments for different reasons. Nearly 80% of his parents' retirement portfolio is invested in fixed income so they will have a relatively stable income stream when they stop working.

  • Benzinga2 days ago

    Blue Apron's Stock Split: What It Means For Investors

    One of the worst-performing high-profile IPOs of the past decade made fresh lows on Friday after the company approved a 15-to-1 reverse stock split to maintain its NYSE listing. Blue Apron Holdings Inc (NYSE: APRN) shares dropped 15.6 percent to 55 cents per share on Friday. Here's everything investors need to know about the reverse split, why it is happening and what it means for the company. Why The Sell-Off? In theory, neither stock splits nor reverse stock splits directly impact the market valuation of a company.

  • Reutersyesterday

    Illinois farmers give up on planting after floods, throw party instead

    Dozens of corn farmers and those who sell them seed, chemicals and equipment gathered on Thursday at the restaurant in Deer Grove, Illinois, after heavy rains caused unprecedented delays in planting this year and contributed to record floods across the central United States. James McCune, a farmer from Mineral, Illinois, was unable to plant 85% of his intended corn acres and wanted to commiserate with his fellow farmers by hosting the "Prevent Plant Party" at The Happy Spot. McCune returned his unused corn seed to a local dealer for Pioneer, a part of Corteva Inc, after planting just 900 acres of corn out of the 6,000 acres he intended to put in the ground.

  • CEO: Boeing made mistake in handling warning-system problem
    Associated Press11 hours ago

    CEO: Boeing made mistake in handling warning-system problem

    The chief executive of Boeing said the company made a "mistake" in handling a problematic cockpit warning system in its 737 Max jets before two crashes killed 346 people, and he promised transparency as the aircraft maker works to get the grounded plane back in flight. Speaking before the industry-wide Paris Air Show, Boeing CEO Dennis Muilenburg told reporters Boeing's communication with regulators, customers and the public "was not consistent. The U.S. Federal Aviation Administration has faulted Boeing for not telling regulators for more than a year that a safety indicator in the cockpit of the top-selling plane didn't work as intended.

  • VW's $2 Billion Truck IPO Reflects Push to Trim the Empire
    Bloomberg2 hours ago

    VW's $2 Billion Truck IPO Reflects Push to Trim the Empire

    For decades, the world's biggest carmaker only knew how to expand -- adding Bentley luxury cruisers, Ducati racing bikes and Scania heavy trucks while taking its network of factories well past the 100 mark and its headcount over 640,000. Now with the pace of change in the auto industry quickening, Volkswagen is trying its hand at trimming the empire. If the listing of a minority stake in Traton SE -- a truck and bus maker with three vehicle brands and valued at as much as 16.5 billion euros ($18.5 billion)-- goes well, it would give Chief Executive Officer Herbert Diess more sway to balance the often diverging interests of VW shareholders including the Porsche and Piech owner family, Lower Saxony and powerful labor unions.

  • TheStreet.com13 minutes ago

    Pfizer Nabs Array Biopharma in $11.4 Billion Takeover of Cancer Drug Specialist

    in an all-cash deal that values the cancer drug specialist at around $11.4 billion. Pfizer will pay $48 per share for Array, a 62.2% premium to its Friday closing price, pegging the value of the group, including debt, at $11.4 billion. Pfizer said the deal, once closed later this year, will dilute its 2019 earnings by between 4 cents and 5 cents a share.