• ECB to pacify doves with a cut or easing guidance by end-September: Reuters poll
    Reuters21 hours ago

    ECB to pacify doves with a cut or easing guidance by end-September: Reuters poll

    By the end of September, the European Central Bank will either cut its deposit rate or ease its forward guidance further by pledging to keep interest rates lower for longer, according to a majority of economists in a Reuters poll. ECB President Mario Draghi in a speech last Tuesday called for "additional stimulus" in the absence of any improvement in weak growth and tepid inflation, which has languished below the central bank's target of close to 2% since 2013. That brings the ECB in line with many of its major central bank peers who are already easing, or close to doing so.

  • Average retirement-age Americans have this much in their 401(k), report says
    Fox Business6 hours ago

    Average retirement-age Americans have this much in their 401(k), report says

    Americans who are nearing retirement age have about $200,000 in their 401(k) accounts on average, a new survey found. According to Vanguard's “How America Saves 2019” report, published this month, the average American worker aged 65 and older has about $192,877 in their 401(k) and a median balance of around $58,035. While their median balance is slightly below that age group as well ⁠⁠— by about $3,700, it's still considerable since many start tapping into their 401(k) starting at 65.

  • Kraft Heinz is running out of cash: top analyst
    Yahoo Finance11 hours ago

    Kraft Heinz is running out of cash: top analyst

    Saving macaroni and cheese maker Kraft Heinz (KHC) may be one of the toughest gigs in Corporate America today (well that and trying to run what's left of Sears). The iconic company has been embarrassed by two years of terrible sales growth, a $15 billion write-down to the Kraft and Oscar Meyer trademarks, a depleted corporate culture, an awful stock price and a subpoena from the U.S. Securities and Exchange Commission related to an investigation of its accounting practices. “In our view, Patricio faces a monumental challenge to put Kraft Heinz on a path to success as a standalone company,” contends Guggenheim Securities analyst Laurent Grandet.

  • Bloomberg5 hours ago

    NYC Cabbies Facing Financial Ruin Force City to Mull a Rescue

    Dozens of Yellow Cab owner-operators marched on City Hall Monday, when some offered tearful testimony describing how their belief in the American Dream was shattered by predatory lenders and city policies encouraging an inflated market for licensing medallions that burst with the unregulated growth of the electronic-hail industry. “I think about taking my life -- I really do -- and the only thing that stops me is my kids,” Mouhamadou Aliyu, a West African father of four who's been in New York since 1993, said in testimony to the council. At least nine drivers have killed themselves since late 2017, including one who took a shotgun to his head near City Hall last year, according to Bhairavi Desai, a political organizer who leads the Taxi Worker Alliance.

  • 'I'm outraged at Boeing:' Why pilots are suing over the 737 Max
    Yahoo Finance2 hours ago

    'I'm outraged at Boeing:' Why pilots are suing over the 737 Max

    MARCH 27: Boeing 737 airplanes are pictured on the company's production line, on March 27, 2019 in Renton, Washington. In the wake of two 737 MAX 8 airliner crashes the company was holding meetings to update those in the aviation industry on software updates and additional pilot training. Boeing Inc. (BA) is facing a class action from a Canadian pilot claiming the company engaged in an “unprecedented cover-up” with the U.S. Federal Aviation Administration related to the 737 Max that damaged the professional and personal lives of more than 400 Max-certified pilots.

  • SCOTUS just FUCT the US Patent and Trademark Office
    Quartz8 hours ago

    SCOTUS just FUCT the US Patent and Trademark Office

    The US Supreme Court has just decided Iancu v. Brunetti (pdf), a First Amendment case about “immoral or scandalous” trademarks, ruling that the US Patent and Trademark Office (USPTO) violated an entrepreneur's free-speech rights when it denied trademark registration for his clothing brand FUCT. The majority opinion, written by justice Elena Kagan, follows the 2017 ruling in Matal v. Tam, which held that the USPTO could not deny an Asian-American band called The Slants a trademark based on its interpretation that the name was a racist slur and thus a “disparaging” mark.

  • Zoom Video Tumbles
    Investor's Business Daily Video9 hours ago

    Zoom Video Tumbles

    Zoom Video plunged Monday, threatening to be its worst one-day percentage loss yet, starting to fill in the gap after earnings earlier this month. The stock has done very well since its IPO, but many hot IPO stocks are retreating. So are many growth software names today.

  • Dow Jones Futures: From AMD To Zoom Video, Growth Stocks Offer Early Warning
    Investor's Business Daily18 minutes ago

    Dow Jones Futures: From AMD To Zoom Video, Growth Stocks Offer Early Warning

    Dow Jones futures edged higher Monday, along with S&P 500 futures and Nasdaq futures. The stock market rally had a quiet day for the major indexes, but many growth stocks took big losses and breakouts are struggling. Zoom Video Communications had its worst loss since its April IPO; Shopify and Veeva Systems had their worst losses in several weeks.

  • These U.S. states are hit hardest by Trump's tariffs
    Yahoo Finance9 hours ago

    These U.S. states are hit hardest by Trump's tariffs

    With trade tensions between the U.S. and China rising since about March 2018, the economic effects are becoming clearer. Following the most recent 25% tariffs on Chinese imports that Trump announced on May 10, a note from JP Morgan took a look at which states are most susceptible to this latest round. Tennessee, Illinois, and California were the states hit the hardest when weighing imports as a percentage of state GDP, according to JP Morgan's analysis.

  • On Cue, Wall Street Challenges Bernie Sanders's Trading Tax Plan
    Bloomberg3 hours ago

    On Cue, Wall Street Challenges Bernie Sanders's Trading Tax Plan

    Even before Sanders formally made his proposal to cancel $1.6 trillion in student debt and make public colleges free by levying a tax on trading, analysts have warned that it could make markets more volatile and that the costs -- much like President Donald Trump's tariffs -- would ultimately be borne by American households. For politicians looking to burnish their everyman credentials, Wall Street and its billions in profit can be a tempting target. Plans for a financial-transactions tax have been debated by the European Commission for almost a decade, and U.S. lawmakers have revived it in recent months.

  • Which jobs make the most money?
    Quartz11 hours ago

    Which jobs make the most money?

    The data is used by the government to track the number of people in different jobs, focus government education programs, and forecast which jobs will grow in the future. p It's an astonishing trove of information for people looking for a job.

  • Icahn Backs Eldorado Deal to Buy Caesars Casino
    Bloomberg5 hours ago

    Icahn Backs Eldorado Deal to Buy Caesars Casino

    Eldorado Resorts is buying Caesars Entertainment Corp. for $8.5 billion. Activist investor Carl Icahn is Caesars' biggest shareholder.

  • Cement Produces More Pollution Than All the Trucks in the World
    Bloombergyesterday

    Cement Produces More Pollution Than All the Trucks in the World

    Manufacturing the stone-like building material is responsible for 7% of global carbon dioxide emissions, more than what comes from all the trucks in the world. After wresting deep cuts from the energy industry, policymakers looking to extend the fight against global warming are increasingly focusing on construction materials and practices as a place to make further reductions. “There is so far too little demand for sustainable materials,” said Jens Diebold, head of sustainability at LafargeHolcim.

  • Rules That Warren Buffett Lives By
    Investopedia11 hours ago

    Rules That Warren Buffett Lives By

    Berkshire Hathaway CEO Warren Buffett is arguably the world's greatest stock investor. Buffett personally lost about $23 billion in the financial crisis of 2008, and his company, Berkshire Hathaway, lost its revered AAA ratings. Buffett invests only in companies he thoroughly researches and understands.

  • U.S.News & World Report9 hours ago

    The Best Places to Retire in North Carolina

    The affordable cost of living and low housing prices means relocating to North Carolina could help improve your retirement finances. Many of North Carolina's most beautiful attractions, including Great Smoky Mountains National Park and the Cape Hatteras National Seashore, cost nothing at all. Consider these retirement communities in North Carolina: Raleigh & Durham The research triangle is named for the three research universities in the Raleigh and Durham area: Duke University, North Carolina State University and the University of North Carolina--Chapel Hill.

  • China’s Biggest Startups Ditch Oracle and IBM for Home-Made Tech
    Bloomberg3 hours ago

    China’s Biggest Startups Ditch Oracle and IBM for Home-Made Tech

    Inspired by Google's Cloud Spanner, which pioneered the distributed database model, the trio -- Huang, Liu Qi and Cui Qiu -- began creating an open-source database management system that would allow companies to infinitely expand their data storage by simply linking more servers to existing ones. Think of traditional database mangers like a fixed glass container, every time you run out of storage you have to get a bigger one,” said Huang. What our system does is that you can link as many cups together as you want.

  • Two Groups of Stocks Are About to Send Crisis-Era Signals on the Economy
    Bloomberg3 hours ago

    Two Groups of Stocks Are About to Send Crisis-Era Signals on the Economy

    The S&P 500 is at a record, but areas of the stock market with a reputation for economic prescience are sending warning signals that hearken to the global financial crisis. It's small caps and transportation stocks, whose performance has deteriorated at a much faster clip than other parts of the market. Relative to the S&P 500, each group is on the brink of hitting its lowest point since 2009.

  • This is How Much Workers Are Saving in Their 401(k) at Every Age. See How You Compare
    Money3 hours ago

    This is How Much Workers Are Saving in Their 401(k) at Every Age. See How You Compare

    Financial advisors generally recommend contributing around 10% of your paycheck to your 401(k), but Americans in all age groups are falling short of that goal. The good news is that three-quarters of Americans with access to a company retirement plan are contributing something to it; the bad news is most aren't putting in enough to set themselves up for a comfortable retirement, according to the recently released How America Saves 2019 report from Vanguard. The saving rates in the chart below reflect employees' contributions only — they don't include any matching contributions that their company might offer.

  • Which Retirement Accounts Are Protected From Creditors?
    Investopedia2 hours ago

    Which Retirement Accounts Are Protected From Creditors?

    Many assume that their retirement funds are protected from creditors, but depending on the type of retirement account you have—and the state where you live—that's not necessarily the case. If you are concerned that creditors may come calling, here is what you need to know. In general, retirement accounts that qualify under the Employee Retirement Income Security Act (ERISA) are protected from creditors, bankruptcy proceedings, and civil lawsuits.

  • Oilprice.com3 hours ago

    The Irony of California’s Oil Dependence

    California has become notorious for its war on fossil fuels, which has made the state the largest electric vehicle market in the United States if not the largest producer of renewable electricity. And yet, for all its green efforts, California continues to be uncomfortably dependent on foreign crude oil that, according to at least one analyst, makes the state a risk to national security. California's oil production has been falling steadily as a result of the environmental push of the local government and legislators.

  • How BofA, Wells Fargo performed in this year's stress testing
    American City Business Journals5 hours ago

    How BofA, Wells Fargo performed in this year's stress testing

    Charlotte's two largest banks passed the latest round of the Federal Reserve's stress testing. Bank of America Corp. (NYSE: BAC) and Wells Fargo & Co. (NYSE: WFC) were two of 18 banks that participated in this year's Dodd-Frank Act Stress Test, representing about 70% of all bank assets in the United States. The Fed set up a "severely adverse" scenario to test the banks.

  • UBS: World economy ‘one step away from global recession'
    Yahoo Finance5 hours ago

    UBS: World economy ‘one step away from global recession'

    The world economy is on the leading edge of a recession, UBS said on Monday, which could prompt all major central banks to ease monetary policy in response. The U.S.-China trade war is amplifying fears of a global downturn —which according to UBS means President Donald Trump may get his wish for the Federal Reserve to cut interest rates. Thus far, the world's two largest economies have not been able to strike a deal to end their trade dispute, and an additional $300 billion worth of tariffs are currently on the table.

  • Once-Surging IPOs Suddenly Tumble as Defensive Bets Take Victims
    Bloomberg8 hours ago

    Once-Surging IPOs Suddenly Tumble as Defensive Bets Take Victims

    Once-surging new issues like Beyond Meat Inc., Revolve Group Inc., Crowdstrike Holdings Inc. and Chewy Inc. are falling for the third consecutive session on Monday, despite the market's push toward record highs. After a weeks-long buying frenzy in recent IPOs, traders are now selling these more volatile bets amid a broader shift to defensive positions. The S&P 500 was testing its record Monday as Jerome Powell and colleagues signal easier monetary policy ahead.

  • Retirement Income: A Lower Risk Recipe To Yields Of 2.5% To 7% — Or More
    Investor's Business Daily11 hours ago

    Retirement Income: A Lower Risk Recipe To Yields Of 2.5% To 7% — Or More

    That's based on Fidelity's rule of thumb that says your savings should total 10 times your income by retirement, even though Fidelity assumes you retire at age 67. So how do you get $43,000 out of a retirement savings balance of $700,000? Vanguard's No.

  • USA TODAY14 hours ago

    Is your bank paying you enough interest on savings and CDs? Here's how to find out

    Ian Pareja, a test engineer in California, says he “got super excited and went down a rabbit hole” when he learned about the higher rates that some savings accounts now offer. After undertaking research on savings account rates, Pareja found a new savings account at an online bank that offered a rate of about 2.2%, which meant his money could earn more than 20 times what it earned in his old account. “People see a number, whether 0.1% or 2%, it seems insignificant to them, but if you have $10,000 in your savings account and you don't need it immediately, you can generate $200 or $300 versus, like, $10,” he says.