Former Billionaire Races to Raise $80 Million and Avoid Jail

Once worth at least $55 billion, India's Anil Ambani has about a day to piece together $80 million to settle long-pending dues with a vendor or go to prison. The tycoon's heavily indebted telecom business had promised to pay the local unit of Ericsson AB about 5.5 billion rupees ($80 million) for past maintenance services. The repeated failure to comply and Ambani's personal guarantee landed him in trouble last month, with the nation's top court holding him in contempt.

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  Indian tycoon Ambani pays debt after court threatened jail

  AFP
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  Brotherly love at Reliance? India's Mukesh Ambani provides 'support' to brother Anil as debt paid off

  Reuters

New Strong Buy Stocks for March 18th

Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today: SP Plus Corporation (SP): This company that provides parking management, ground transportation, baggage, and other ancillary services has seen the Zacks Consensus Estimate for its current year earnings increasing 0.8% over the last 60 days. SP Plus Corporation Price and Consensus SP Plus Corporation price-consensus-chart | SP Plus Corporation Quote Federal Signal Corporation (FSS): This company that designs, manufactures, and supplies a suite of products and integrated solutions for municipal, governmental, industrial, and commercial customers has seen the Zacks Consensus Estimate for its current year earnings increasing n...

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  Are Investors Undervaluing Hallmark Financial (HALL) Right Now?

  Zacks
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  CARB vs. VRTU: Which Stock Is the Better Value Option?

  Zacks

College admissions scandal may also involve tax fraud

The major college admissions scandal was reported to involve bribery but now the IRS is investigating whether those implicated in the scam also committed tax fraud. CNBC's Robert Frank reports.

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  What the College Scandal Says About America's Elite

  Bloomberg
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  John Oliver: Olivia Jade Jokes Are Fair Game After 'Weird' College Admissions Scandal

  Rolling Stone

U.S. states probing Hyundai, Kia over vehicle fires: Connecticut AG

A group of U.S. states is investigating Hyundai Motor Co and Kia Motors Corp for potential unfair and deceptive acts related to reports of hundreds of vehicle fires, Connecticut Attorney General William Tong said on Monday. The South Korean automakers have recalled more than 2.3 million vehicles since 2015 to address various engine fire risks in a series of recalls. In November, Reuters reported that federal prosecutors had launched a criminal investigation into Hyundai and Kia to determine if vehicle recalls linked to engine defects had been conducted properly.

Jamie Dimon: The U.S. economy should have grown 40% in the last decade, not 20%

JPMorgan Chase (JPM) CEO Jamie Dimon argues that the U.S. economy would have grown faster if workers had the necessary skills. The bank's five-year initiative, called New Skills at Work, will put $200 million toward "developing and piloting innovative new education and training programs" for digital and technical skills, JPMorgan said.

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  Jamie Dimon says the U.S. economy has left the poor behind

  CNBC Videos
• Jamie Dimon says we've split the US economy, leaving the poor behind

  CNBC

There is one missing factor in 2019's epic stock market rebound

In fact, they are taking money out of the stock market, still bruised from December's slump, which was the worst December for stocks since 1931. On Dec. 24, 2018, widely considered the recent low for the stock market, the S&P 500 was down 19.8% from its Sept. 20, 2018, closing high of 2,930. A bear market is a decline of 20% from an index's or stock's most recent high.

Fluor breaks ground on $4.9B project at LAX

Irving-based Fluor Corp. (NYSE: FLR) has broken ground on the $4.9 billion Los Angeles International Airport Automated People Mover project, which is scheduled to be completed in 2023. “We are eager to officially begin the construction and advancement of LAX's world-class facilities,” said Terence Easton, president of Fluor's infrastructure business, in a company statement. “This project is a signature piece of mega infrastructure that will be ready to welcome the 2028 Summer Olympics, will improve mobility for travelers from around the world and empower progress for the Los Angeles region for generations to come.” Fluor's LAX Integrated Express Solutions joint venture team and its partners will design, build, finance, operate and maintain the project over the next 30 years.  It includes building six stations along a 2.25-mile guideway where driverless vehicles will run every two minutes during peak periods.

Kroger ends its unmanned-vehicle grocery delivery pilot program in Arizona

Supermarket giant Kroger said it soon will end a pilot program in which more than 2,000 grocery deliveries were made in self-driving vehicles from a store in Scottsdale, Arizona. The program, launched last August, featured deliveries in autonomous vehicles from robotics company Nuro from the Kroger-owned Fry's store at 7770 E. McDowell Road for customers in ZIP code 85257. The companies described it as the nation's first program featuring deliveries to the general public from fully unmanned vehicles.

Tax refund fraud: IRS crackdown ensnares legitimate taxpayers

Refund delay Even if you sail through the verification process, it may take up to nine weeks to get your refund, according to the letter Henry received. What they are withholding from me is something I already earned,” she says. That delay could be especially difficult for working class and poor taxpayers who claim the Earned Income Tax Credit – as Henry did – or the Additional Child Tax Credit, both of which receive extra scrutiny for ID theft because they are so valuable.

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  You Have Less Than 1 Month to Make This Important Tax-Saving Move

  Motley Fool
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  More Americans Saving Tax Refunds—But Gen Z, Not As Much

  ValuePenguin

5 High-Dividend ETFs Available Under $15

After all, the broader market is guilty of overvaluation (read: 6 Dividend ETFs That Beat S&P 500 in the 10-Year Bull Run). U.S. markets have been on cloud nine since the start of the year. A dovish Fed and cues of improvement in the U.S.-China trade relation helped the S&P 500 eke out more than 12% gains this year.

Instacart lays off hundreds of its in-store Whole Foods shoppers amid breakup with Amazon

The San Francisco-based Instacart is laying off hundreds of workers stationed at Whole Foods markets now that its long-time partnership with the Amazon-owned grocer is winding down. The decision to dissolve the seven-year partnership was made official last December, but has been in the works since Whole Foods' acquisition in 2017. Instacart eliminated the grocer from its platform last year.

General Electric should make this major change, once and for all

General Electric (GE) Chairman and CEO Larry Culp has taken a sledgehammer to the industrial kingdom built up by former, much ballyhooed, CEOs Jack Welch, Jeff Immelt and John Flannery. From inking a $21.4 billion deal to selling GE's biopharma business to one-time employer Danaher, to evaluating other asset sales, and to likely soon kicking thousands of under-performing, well-paid GE HQ lifers to the curb, Culp is clearly trying to save the 127-year-old manufacturing icon. Before Culp truly enters the abyss of making corporate history and lining his pockets with millions, he should consider making a long overdue change to GE.

Mystery Mueller Subpoena Fight Gets Supreme Court Look This Week

The U.S. Supreme Court gets a chance to join the fray over Special Counsel Robert Mueller for the first time this week as the justices consider whether to hear an appeal in a mystery case that's kept people guessing for months. The partially redacted appeal, filed by an unidentified foreign government-owned company in a fight over a grand jury subpoena, centers on U.S. courts' power over businesses owned by foreign governments. It's the first known effort to get the nation's highest court to weigh in on Mueller's probe into Russian meddling with the 2016 election and possible obstruction of justice.

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  Mueller report looms over Trump's Twitter attacks, says WaPo's Costa

  CNBC Videos
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  Trump Tower in Moscow: Why did the project end and why does the Mueller investigation care so much?

  The Independent

Here's how the tax cuts could impact the housing market

Joe Lavorgna, Natixis chief economist, and CNBC's Steve Liesman join 'The Exchange' to discuss how the tax cuts impact the housing market.

Working full time for health coverage? Many who want part-time jobs are stymied by costs

Many Americans who would like to dial back and work part time have been discouraged from doing so because of sharp premium increases in the individual health insurance market the past few years, experts say. It had been rising the first few years after the Affordable Care Act (ACA) took effect in 2014 and provided part-time and freelance workers, as well as the unemployed, less expensive health insurance options than they previously had. Some of the health cost hikes can be traced to market forces, while others are due to Trump administration efforts to weaken the health care law, says Mark Hall, director of the health law and policy program at Wake Forest University and a senior fellow at the Brookings Institution.

The Year's 10 Most Hotly Awaited IPOs

While Lyft is hoping its IPO will value that company at up to $25 billion, Uber — which operates in about 70 countries — reportedly expects to show that it's worth almost five times more: $120 billion. Like Lyft, Uber wants its drivers to share in the IPO excitement. It intends to give most of its 3 million active drivers cash bonuses that they can trade for stock at the offering price, The Wall Street Journal reports.

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  Ride-hailing firm Lyft launches IPO road show in Uber's shadow

  Reuters
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  Lyft Investor Santosh Rao on company's IPO

  CNBC Videos

Whistleblowers allege CHS received more than $400M for false claims

Two whistleblowers have accused Community Health Systems Inc. of submitting false claims to the federal government, resulting in hundreds of millions of dollars of payments to the Franklin-based company, according to a recently unsealed lawsuit. The lawsuit alleges false claims were made to the Department of Health and Human Services for payments through the Electronic Health Record Incentive Program, also known as the meaningful use program. Passed in 2009, the meaningful use program is meant to encourage hospitals and physicians to adopt certified electronic health records and show they are “meaningfully using” the technology by meeting a number of objectives designed to improve patient care.

Here's How Much Twilio Would Have to Grow to Make Sense

Just because Twilio (NYSE:TWLO) is ridiculously, stupidly overvalued doesn't mean Twilio stock can't continue to rally. Twilio can't — and won't be able to anytime soon anywhere near its current value. Twilio is a story stock, and story stocks don't trade like regular stocks do.

Cryptocurrency market update: Bitcoin and altcoins pumping

There's ample historical evidence to suggest that Bitcoin and its merry gang of altcoins have made it through the worst of the year-long bear market, and that everything from here on out should be considered an accumulation period. Bitcoin's market capitalisation found support near $71 billion on Sunday, supported by an upsurge in trade volumes that was accompanied by the launch of a new BitMEX futures contract. During the weekend, Bitcoin reached $4,000, which currently sits on the 50-day EMA – right now, that is BTC's resistance level.

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  The children are the future of crypto

  Coin Rivet
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  Bitcoin price surges past $4,000 as cryptocurrency experts bet on major market turnaround

  The Independent