The British pound came under pressure Wednesday as inflation data grew softer than forecast in August. U.K. consumer prices slowed to 1.7% year-over-year growth in August from 2.1% in July, the Office for National Statistics said Wednesday. Economists polled by FactSet expected a 1.9% rise.
Indian stocks surged with the rupee while bonds slumped after the government unexpectedly slashed the corporate tax rate to boost economic growth. The Sensex jumped 5.4%, poised for its best gain since May 2009, led by banks and automakers. The rupee climbed 0.6% against the dollar.
The Democratic Party seems to be leaning towards the left on policies, which is very harmful for the economy. I don't like the shift to the left,” he explained to CNBC, adding that the market, of course, will open, but it won't be pretty. It would be a bear market and they go on for a year and go down 25%,” he said.
In a new interview, Jonathan and Drew Scott — co-hosts of the HGTV series “Property Brothers” — explain where buyers should invest in real estate, and why Las Vegas and Nashville are at the top of their list. “Don't go and invest across the country somewhere that you don't know,” Drew Scott says. Political or economic conditions can determine whether it's worthwhile to build somewhere, said Jonathan Scott, Drew's twin.
FedEx says one of its pilots was detained in China after an item was found in his luggage before he boarded a commercial flight. The company said Thursday the pilot was later released, and it is working with Chinese authorities to understand what happened at the airport in Guangzhou, in southern China. The Wall Street Journal reported that former U.S. Air Force pilot Todd A. Hohn was detained on Sept. 12 after pellets used in replica air guns were found in his checked bag.
For years, AT&T (NYSE:T) stock has been a “yield trap.” This is a stock who's dividend is too good to be true. DirecTv cost AT&T $49 billion in 2015 but has lost 2.5 million subscribers in the last year. AT&T CEO Randall Stephenson's planned glorious retirement next year is beginning to look more like former General Electric (NYSE:GE) CEO Jeff Immelt's more ignominious exit.
Online shopping just became a more viable option for cash-only customers — one that could help them save a buck or two. Amazon on Wednesday announced the U.S. launch of Amazon PayCode, a free service that lets customers shop online, receive a “PayCode” at checkout and then bring it to their nearby Western Union within 24 hours to pay for the order in cash. Eight in 10 Americans live within five miles of one of the 15,000 eligible Western Union locations, Amazon said.
Uber (ticker: UBER) sports a market valuation of more than $57 billion, while WeWork has raised more than $12 billion in venture capital. At an event Wednesday at his house in San Francisco's Pacific Heights neighborhood, Ellison met with a small group of entrepreneurs, and spent more than an hour answering their questions on a variety of topics. Ellison asserted that while he is close friends with Softbank's Masayoshi Son, he doesn't see the investment case for either WeWork or Uber, both large holdings in Softbank's Vision Fund.
Margaret Yang, market analyst at CMC Markets, discusses the U.S.-China trade negotiations and the impact the trade war is having on the global economy. She speaks on “Bloomberg Daybreak: Asia.
The United States could learn quite a bit from other countries around the world when it comes to retirement security, according to a new report. The annual Global Retirement Index, started by Paris-based investment bank Natixis Investment Managers, analyzes four key indexes: finances in retirement, including taxes and the old-age dependency ratio; health, such as life expectancy and expenses; “material well being,” which is income equality and unemployment; and quality of life, including happiness and water quality. Iceland topped the list this year, followed by Switzerland and Norway.
But as 5G takes the world by storm and ushers in a new technological revolution, there's about to be a WAY bigger opportunity than we could capture by simply buying Nokia stock. The infographic below shows how 5G compares to 4G… how that compared to 3G… and so on. Those Nokia flip-phones had their heyday back at 1G and 2G. Then 3G was what allowed Apple (NASDAQ:AAPL) to take the world by storm with the iPhone.
Rolls-Royce Holdings PLC said Friday that it expects a further delay in reducing the number of aircraft-on-ground events linked to issues in its troubled Trent 1000 engines, but said its cash-cost guidance remains unchanged. The British aircraft-engine maker (UK:RR) said it now expects to return to a single-digit level of aircraft-on-ground events on the Trent 1000 to be delayed until the second quarter of 2020. Rolls-Royce said faster deterioration of the high pressure turbine blade on the Trent 1000 TEN has remained a challenge.
The Dow stock backed off highs after topping a 141.78 buy point. Sentiment was bullish early after the company announced a $40 billion share buyback and raisied its quarterly dividend.
Crude oil prices headed back up Thursday as tensions with Iran escalated, while analysts doubted Saudi Aramco's timeline to return to normal. The attacks over the weekend hit the Abqaiq production facility, the heart of Saudi Arabia's oil sector. It processes 5.7 million barrels of oil a day, or roughly half of the country's production and 5% of global supply.
If recent reports are to be believed, China's central bank is on the brink of launching a digital version of the yuan. According to a Forbes article last month, the digital edition of the national currency could go live as soon as Nov. 11, coinciding with Singles' Day, a popular Chinese shopping holiday. Before we dive into the ramifications of a digital yuan controlled by the People's Bank of China (PBOC), let's take a moment to review a couple things: “Digital currency” is a broad term, referring to anything from a US dollar on PayPal to a unit of bitcoin.
Is Microsoft stock a buy, after announcing a fresh $40 billion share buyback initiative on Wednesday, and as the company "closes the gap" with cloud computing web services leader Amazon? Shares rose past a buy point Thursday, after the company boosted its dividend and announced its share buyback Wednesday. This comes after a August report from Wedbush Securities noted "a clear acceleration of larger and more strategic enterprise cloud deals," positioning the company to "win the lion's share of the next phase of cloud deployments vs. Amazon."
The Federal Reserve announced Wednesday that its Open Market Committee had voted to cut the federal funds rate by 25 basis points to a range of 1.75% to 2%. The federal funds rate is the benchmark interest rate that banks use when lending to one another. Interest rates on loans and deposits are typically influenced by the Federal Reserve's decisions vis-à-vis the federal funds rate.
California's governor on Wednesday signed sweeping labor legislation that aims to give wage and benefit protections to rideshare drivers at companies such as Uber and Lyft and to as many as a million workers across other industries. The closely watched proposal could have national implications as lawmakers, businesses and unions confront the changing nature of work and the rise of the so-called gig economy. “California is now setting the global standard for worker protections for other states and countries to follow,” Democratic Assemblywoman Lorena Gonzalez said after her bill was signed into law by Democratic Gov. Gavin Newsom.
Dickson was slated to deliver a presentation Thursday at the Gastech conference in Houston alongside peers from WorleyParsons Ltd. and TechnipFMC Plc. In his stead, McDermott COO Samik Mukherjee joined the panel, spokeswoman Gentry Brann said in an interview. The shuffle comes amid a meltdown in McDermott's bonds and shares as the builder of oil platforms and natural gas plants struggles to cope with a $4.3 billion debt hangover from its 2018 purchase of Chicago Bridge & Iron Co. A person familiar with the matter said Wednesday that McDermott hired restructuring firm AlixPartners LLP for strategic and operational advice.
It is also about who gets paid before the clock runs out on the Trump administration's first and possibly last term. Possibly the biggest prizes (or losses) of all are those to be had through the administration's restructuring of Fannie Mae and Freddie Mac, the quasi-public housing government-sponsored enterprises (GSE). Oh, and before I forget, some common and junior preferred shares which went into penny-stock pricing land after the crisis-era bailout of Fannie and Freddie.
It would be naive to believe the coming year, however, is going to look like a year that's about to wind down. As market conditions change and the economic growth cycle matures, different areas thrive, while others struggle. Geography can matter too.
Canopy Growth Corp. (CGC), the largest cannabis company in the world by market capitalization, has seen its stock plunge by more than 50% over the last 11 months, dragging down its value from about $20 billion to $9.5 billion today. Now, the Canadian grower faces even more trouble ahead as it racks up an estimated $500 million in losses for the two-year period ending March of 2021, according to Oppenheimer analyst Rupesh Parikh, according to Barron's as outlined in detail below. The woes at Canopy Growth, whose stock initially soared several-fold after it went public, illustrates both the massive operating and market challenges facing cannabis producers, and waning investor optimism for cannabis stocks such as Aurora Cannabis Inc. (ACB), Tilray Inc. (TLRY) and Cronos Group Inc. (CRON).
Although the concept of an ideal retirement portfolio is somewhat relative, many financial planners would define this in terms of what it is able to do. An “ideal” plan in this sense is one that would meet your financial needs until death. The manner in which the actual funds are allocated in order to accomplish this can vary substantially depending on a number of factors. Most ideal portfolios for carrying someone through retirement are going to have at least some measure of the following characteristics. Retirement plans are designed to grow over long periods of time, and growth instruments such as stocks and real estate typically form the nucleus of most successful retirement portfolios, at least when they are in the growth phase.
On CNBC's "Mad Money Lightning Round," Jim Cramer said Trade Desk Inc (NASDAQ: TTD) is oversold, but it's very volatile. Cramer needs to do more work on Zynex Inc. NASDAQ: ZYXI).
Technological improvements in hydraulic fracking are making 'America Great Again' when it comes to its energy sector. Unconventional oil and gas reserves, which previously were deemed as 'uneconomic to produce', are being exploited on a massive scale. Consequentially, the shale revolution has altered the international energy landscape, which has enabled cooperation between rivals Russia and Saudi Arabia within the OPEC+ framework.