Since December 2016, the S&P 500 has climbed more than 21%, while the Dow Jones Industrial is up more than 25%. General Electric Company (NYSE:GE) stock is down nearly 55% during that time. Things just look very bleak for GE stock right now.
Berkshire Hathaway Inc. Chief Executive Warren Buffett makes less than twice the company’s typical employee, the conglomerate said in a filing Friday. Buffett has earned a $100,000 salary for decades, and receives no bonus or other compensation. Berkshire said its median employee received $53,510 in 2017, or a ratio of 1.87 to 1. Berkshire’s second in command, Vice Chairman Charles T. Munger, has also received a $100,000 salary and no other compensation for years. Earlier on Friday, Boeing Co. BA, +0.15% reported its CEO made more than $18 million in compensation last year, resulting in a CEO-pay ratio of 166 to 1, and PepsiCo Inc. PEP, -0.31% said its CEO made more than $31 million, or a ratio
Let's go to to my Biotech Mailbag to answer two of the common questions we have received so far in March. What Will It Take for Biotech to Break Out? The main biotech indices are near highs they have not been able to decisively break above since
Mar.18 -- China named Yi Gang to run its central bank, elevating a long-serving deputy governor with deep international links to the forefront of efforts to clean up the nation’s financial sector and modernize monetary policy. Macquarie Group Head of China and Hong Kong Research David Ng weighs in on "Bloomberg Markets."
Twitter will ban advertisements for several kinds of cryptocurrency products and projects. The policy, according to Sky News, would go into effect in two weeks and would block ads for initial coin offerings, token sales, and cryptocurrency wallets. It could also encompass a ban on ads for cryptocurrency exchanges.
Advanced Micro Devices, Inc. (NASDAQ:AMD) has been hit by another security scare, this time a report from CTS Labs. The Israeli company detailed 12 “critical flaws” in its Ryzen chips, and gave AMD only 24 hours notice before publication. It couldn’t have helped but affect AMD stock.
Tesla Inc. may be falling short of its production goals for the Model 3, but investors may not necessarily care, analysts at Consumer Edge said in a note Friday. Tesla TSLA, -1.31% likely will be making 2,000 Model 3 sedans a week by the end of this month, below its target of churning out 2,500 of the key mass-market vehicles, said the analysts, led by James Albertine. Consumer Edge recently hosted meetings with Tesla executives, and the potential Model 3 production miss was one of its “key takeaways” after the discussions, the analysts said. Related: Ford finally gets ‘buy’ rating from Morgan Stanley, after 4 years of bearishness Consumer Edge kept its buy rating on Tesla unchanged, with a
Apple Inc. has promised to spend $163 billion in cash, leading to breathless speculation about large acquisitions. The company’s largest acquisition was headphone maker Beats Electronics Inc., for $3 billion, and the next largest was NeXT, the merger that brought Steve Jobs back to Apple. While Apple has reportedly checked in on some potential large targets, the company is much more likely to spend much of the cash in three areas: Original content, bringing down the costs of manufacturing its signature iPhone, and rewarding investors. Apple has already expressed interest in expanding its original-content offerings, and recent moves and commentary suggest this is still an area of priority for the company.
A recent report by the International Renewable Energy Agency (IRENA) has disclosed that it anticipates the cost of renewables to be on a par with fossil fuels by as early as 2020. This is excellent news for proponents of renewables, and, one would assume, very bad news for fossil fuel companies. Lower production costs mean higher returns on investment after all, so surely the choice between investing in, for example, a gas fired power station and a wind farm comes solely down to philosophical considerations?
The listing is expected to give the firm extra financial muscle as it squares off against rivals in the Chinese market, including Alibaba Group Holding Ltd's (BABA.N) service Youku Tudou Inc. It plans to offer 125 million American depositary shares priced at $17 to $19 each, the company said in a filing to the U.S. Securities and Exchange Commission. IQiyi, which will list on the Nasdaq, said it expects to use about half of the proceeds to broaden and enhance its content offering while 10 percent would be earmarked to strengthen technology.
Former Secretary of State Rex Tillerson put a break on President Donald Trump's desire to tear up the Iran nuclear deal. Rather than go against his top diplomat's advice, the president got rid of him, making it more likely that he will now pull the U.S. out of the agreement as early as May 12, the next deadline for him to extend the waiver on the sanctions that are suspended by it. The State Department doesn't seem to be entirely behind killing it. “We believe we can work within the nuclear deal,” Brian Hook, director of policy planning, said after Friday's quarterly meeting of the joint commission overseeing the 2015 agreement. If his former boss's fate is anything to go by, Hook's time at Foggy
China named Yi Gang to run its central bank, elevating a long-serving deputy governor with deep international links to the forefront of efforts to clean up the nation’s financial sector and modernize monetary policy. Bloomberg's Tom Mackenzie reports on "Bloomberg Daybreak: Asia." (Source: Bloomberg)
The move would knock $23.8 billion off the social network's market value of $538 billion as of Friday's close and shares in other social media companies including Twitter Inc and Snap Inc also dipped in early deals in New York. One Wall Street analyst said the reports raised 'systemic problems' with Facebook's business model and a number said it could spur far deeper regulatory scrutiny of the platform.
Luke Thomas, 44, an information technology field manager who lives in Miami, began investing in the U.S. stock market in his early 20s, attracted by the prospect of learning “how to grow a little bit of money into a lot,” he said.
Tidjane Thiam of Credit Suisse also discussed the "cautious but optimistic" outlook for global markets.
While the market was down modestly over the last five trading days, it was really just treading water ahead of the upcoming Federal Open Market Committee meeting and digesting the latest news emanating from Washington. With just nine days of trading left in the quarter, the Nasdaq Composite Index is leading the charge higher in 2018, up more than 8% year to date. During the last few days, we've gotten several pieces of economic data that, together with others from the last few weeks, have led the Atlanta Fed to downgrade its GDP view for the first quarter to 1.9% from its robust forecast of more than 5% at the start of the quarter.
Cadre, the real estate investing startup co-founded by White House senior adviser Jared Kushner, was the primary beneficiary of a property-flipping investment that may have been less profitable if it had fully complied with New York City disclosure rules about rent-regulated tenants. Cadre owned about 60 percent of three rent-regulated buildings in Queens sold by Kushner Cos. in April 2017. The $59 million price tag was an 80 percent premium over what they paid in January 2015, property records in New York show. It was the first known deal that Cadre, then a fledgling company, took from purchase to sale, and the high rate of return in a short time was touted as a proof-of-concept for its web-based
The National Labor Relations Board is ignoring its own guidelines and rushing to settle a major workplace action involving McDonald’s Corp., lawyers for employees involved in the litigation alleged. The action before the NLRB stems from claims by McDonald’s franchise employees who said they were fired in retaliation for joining a national effort to obtain a $15 hourly wage, the so-called Fight For $15 movement. McDonald’s has both denied any wrongdoing and said it shouldn’t be held responsible for the actions of individual franchises.
The New York state Public Service Commission has ruled that power companies can charge higher rates to cryptocurrency mining operations, which have moved into the state's north to take advantage of low-cost hydropower. The New York Public Service Commission said the decision was needed "to prevent local electricity prices for existing residential and business customers from skyrocketing." According to the commission, cryptocurrency mining operations can use “thousands of times” more than an average residential customer, and in some cases account for 33 percent of municipal utilities’ total demand, without commensurate local economic benefits. This "proof of work" process is part of the security structure of digital currencies like Bitcoin.
Facebook was in the spotlight as government officials in the U.S. and Europe were demanding answers from the company after reports that Cambridge Analytica, the advertising-data firm that helped Donald Trump win the U.S. presidency, retained information on tens of millions of Facebook users without their consent. Apple suppliers including Samsung and LG Display fell in Asia as the iPhone maker was said to be producing its own displays for the first time.
Putting your savings strategy on autopilot is one sure-fire way to make certain that you're regularly stashing away money for retirement. Financial advisors often suggest contributing to your 401(k) or other retirement savings plan at work as the first step in building your nest egg. Yet many Americans don't do that. In fact, 20 percent of working Americans are failing to save any of their income – and one in six blame their job, according to a new study from Bankrate.com. Their lack of saving is not necessarily because they're undisciplined. It simply may take more effort than they're willing to give. One of the obstacles: Their employer doesn't offer a 401(k). Employees would have to set up
Barring a settlement, the Department of Justice lawsuit to block AT&T Inc.'s (T) purchase of Time Warner Inc. (TWX) is a blockbuster that will resonate throughout the media business. The outcome will signal whether the courts will allow vertical consolidation of leading media production and distribution companies. For President Trump, quashing the deal would be a victory against nemesis CNN, which is part of Time Warner. Opening statements begin March 21 in the U.S. District Court for the District of Columbia. The court scheduled three weeks for the proceeding. Here's what you need to know. Why Is the Government Suing AT&T? The Department of Justice's November lawsuit argues that AT&T and Time
After a record 15-year tenure in which he steered the nation through global crises, overhauled monetary policy tools and oversaw the elevation of the yuan to reserve-currency status, People’s Bank of China Governor Zhou Xiaochuan is riding into the sunset. Zhou, 70, will hand the reins to his longtime deputy, Yi Gang, 60, leaving him to continue opening financial markets and capital borders and reducing risk after years of soaring debt. The longest-serving central bank chief in the Group of 20 economies took office when Alan Greenspan was Federal Reserve chairman. The English-speaker explained global concerns to domestic leaders and forged ties around the world to further integrate China into the global financial architecture.
Global stocks were in retreat Monday, pulling U.S. equity futures into negative territory, as investors digest a series of major geopolitical developments over the weekend and prep for what could be the first of as many of four rate hikes from the Federal Reserve later this week in Washington. users may have had their personal data harvested by a firm acting on behalf of the U.S. Presidential election campaign of President Donald Trump. Facebook shares were marked 3.24% lower in pre-market trading, indicating an opening bell price of $179.11 each, a move that would trim the stock's year-to-date advance to around 1.5%.
The business groups wrote a letter to Trump on Sunday acknowledging “serious concerns” regarding what they described as China’s theft of trade secrets and other practices and policies, but they urged a measured response that avoided tariffs. “The Administration should not respond to unfair Chinese practices and policies by imposing tariffs or other measures that will harm U.S. companies, workers, farmers, ranchers, consumers, and investors,” the groups said in the letter. Trump has announced he would impose tariffs of 25 percent on steel and 10 percent on aluminum, with some exclusions and exceptions, to curb cheap imports from China and other countries.