Apple on Wednesday announced plans to open a new campus in the United States and said it would hire 20,000 new employees over the next five years. It also says it plans to pay $38 billion in repatriation tax. CNBC estimated that with the new repatriation tax rate of 15.5%, the company would bring nearly all its overseas cash, or about $245 billion, back to the United States.
Nearly every major cryptocurrency—including bitcoin, Ethereum, Litecoin, Ripple, and Bitcoin Cash—has experienced substantial losses on Tuesday, highlighting concerns over potentially catastrophic regulatory changes in key Asian markets. Similarly, Litecoin has shed about 16.4%, Ripple has crashed more than 24.7%, and Bitcoin Cash has dropped roughly 20.7%. The total market capitalization of the 1,450 cryptocurrencies tracked by CoinMarketCap slumped from a 24-hour high of $713.64 billion to a low of $536.65 billion earlier this morning.
Per reports, biotech bigwig Celgene Corporation CELG is looking to acquire smaller biotech Juno Therapeutics JUNO. Celgene is on the look-out of new deals and acquisitions given a lacklustre 2017. Celgene suffered a series of setbacks over the last few months. Earlier in Jan 2018, Celgene announced it will acquire Impact Biomedicines for an upfront amount of $1.1 billion.
The iPhone cycle will disappoint this year, according to one Wall Street analyst, who issued a rare downgrade of one of the market's most popular stocks. Longbow Research lowered its rating for Apple (AAPL) shares to neutral from buy, predicting the company will ship fewer iPhones than expected in fiscal 2018. "Apple found iPhone price elasticity with the introduction of the X blunting some demand.
FedEx (NYSE:FDX) CEO Fred Smith said on Tuesday tax reform will boost the balance sheets of American businesses and stimulate investment in the United States. Many companies, including Wal-Mart (NYSE:WMT), AT&T (NYSE:T) and Boeing (NYSE:BA), are giving back by raising pay and doling out employee bonuses, as a result of the tax bill. It passed in between our board meetings and I’m sure we are going to be doing a lot of things as a result of this tax bill because it was very, very good policy,” he said.
Question: My ex-husband passed away recently. I was married to him for more than 10 years, from 1959 to 1971. What would I be entitled to if I made a claim for part of his benefits? I currently receive $1,069 per month from Social Security. I am now 78 years old. He was 82 when he recently passed. I appreciate any advice you can give me. Answer: According to Social Security Administration (SSA), if you're getting benefits based on your own work, you should call (1-800-772-1213) or visit an SSA office. The SSA will check to see if you can get more money as a widow (or widower). If so, you'll get a combination of benefits that equals the higher amount. You must, however, complete an application
Retail REIT Realty Income Corporation O has announced a hike in its common stock monthly cash dividend, rejoicing shareholders. This marks the company’s 95th dividend increase since its NYSE listing in 1994. The company will now pay 21.90 cents per share against 21.25 cents paid earlier.
If you bought a Bitcoin in early 2017, when one cost less than $900, you could have a profit of more than 1,200 percent now. More than $2,000 of that decline came in about 24 hours, after South Korean Finance Minister Kim Dong-yeon indicated the country may crack down on cryptocurrency trading to discourage speculation. For the many doubters who can’t believe things have come this far—and for Bitcoin owners who can see how much they might lose—the big question is what it would take to knock the price back further.
Pipeline operator, Energy Transfer Partners ETP recently agreed to divest its compression units, CDM Resource Management and CDM Environmental & Technical Services LLC, to natural gas compression services provider, USA Compression Partners, LP USAC for about $1.8 billion. Per the deal, USA Compression will pay $1.225 billion in cash along with 19.2 million of its common units and 6.4 million of its Class B units to Energy Transfer Partners.
General Electric Co (NYSE: GE) shares plunged today, losing 4 percent after announcing that its insurance business -- a part of the slimmed-down GE Capital -- would take a $6.2 billion charge for the fourth quarter. GE stock's recent performance, its $6.2 billion insurance loss, longtime efforts to shed the risks and assets of GE Capital, and comments from the new CEO on Tuesday all make clear that a breakup may be imminent and necessary. "We are looking aggressively at the best structure or structures for our portfolio to maximize the potential of our businesses," GE CEO John Flannery says.
Perhaps it is because trading stocks can often mirror the thrill of winning big at the blackjack tables, or maybe it is because Las Vegas conjures images of the world’s most flashy brands and businessmen. Luckily for investors, now is also a great time to be buying gambling stocks, as continued domestic strength, a great recovery in Macau, and overall international interest in gaming have led to rising share prices. Led by the legendary Steve Wynn, this iconic gaming brand is looking strong after another solid earnings report.
Bitcoin (Exchange: BTC=) could hit $100,000 in 2018, an analyst who correctly predicted the cryptocurrency's rally at the start of last year told CNBC on Tuesday. Kay Van-Petersen, an analyst at Saxo Bank, added that other rival digital coins could also outperform. Van-Petersen forecast in December 2016 that bitcoin would reach $2,000 in 2017 .
Ripple, currently the third-largest digital currency in the world after bitcoin and ethereum, had an extraordinary end to 2017. In the last few days of the year, the price of XRP climbed dramatically. In the process, and with tokens trading for more than $3 each, ripple catapulted past ethereum to become the second-largest cryptocurrency by market cap. (See also: Ripple Briefly Was 2nd Most Valuable Cryptocurrency.) Although it has since fallen by a significant margin, in the first days of 2018, ripple had generated a great deal of excitement. (See also: Bitcoin Price Slides Further; Ripple Builds Lead Over Ethereum.) Perhaps that is why many investors found it odd when Coinbase announced in
Jan.17 -- Bloomberg's Yalman Onaran discusses fourth-quarter results from Bank of America. He speaks on "Bloomberg Surveillance."
Ford Motor Co on Tuesday estimated financial results for 2017 and 2018 that fell short of investor expectations, in a downbeat forecast that contrasted with a more positive outlook from rival General Motors Co . Ford Chief Financial Officer Bob Shanks told analysts at an investor conference in Detroit on Tuesday that higher costs for metals and other materials, as well as currency volatility, could cost the U.S. automaker $1.6 billion in 2018. President of Global Markets Jim Farley said that Ford's business structure was "out of sync with our revenue," and vowed to cut costs by sharply reducing the variants of high-volume Ford models, and slashing marketing costs.
Between the spending plan, tax payments and business with U.S. based suppliers, Apple on Wednesday estimated it would spend $350 billion in the U.S. over the next five years. Apple, however, did not say how much of its $252.3 billion in cash abroad, the largest of any U.S. corporation, it would bring to the United States, after the U.S. tax changes cut costs on bringing funds back from overseas.
Even after Alibaba Group Holding Ltd (NYSE: BABA) stock nearly doubled in 2017, analysts see no signs the company's incredible performance will slow down. In fact, Jefferies analyst Karen Chan says Alibaba's combination of cloud services growth, e-commerce
Looking for a stock that might be in a good position to beat earnings at its next report? Consider Occidental Petroleum Corporation OXY, a firm in the Oil and Gas - Integrated - United States, which could be a great candidate for another beat.This company
The Dow, which was up 283 points at its high to break above 26,000 for the first time, finished the day down fractionally, losing 10 points, or 0.04%. The benchmark S&P 500 lost 9 points or 0.3%, while the tech-heavy Nasdaq led losses with a 37 point decline, good for a percentage loss of 0.5%. On Wednesday, the economics calendar will bring investors the December reading on industrial production from the Fed and the January reading on homebuilder sentiment from the National Association of Homebuilders in the morning.
Apple (AAPL) is in the spotlight. Its Chinese supplier Catcher Technologies is denying allegations by a New York rights group that it makes employees work 10 hours a day in polluted conditions without proper overtime pay or safety measures in place. Apple and Catcher both claim they investigated the issues and found no evidence of any violations.
H&R Block, Inc. HRB recently entered into a partnership with Wal-Mart Stores, Inc. WMT, through which the former will sell exclusive do-it-yourself desktop tax software at all Walmart stores. Becoming the sole tax software provider to the world's largest retailer is likely to give H&R Block a competitive advantage over its peers. H&R Block provides users with personalized tax filing facilities aided by free tax advise given by highly trained professionals.
Bitcoin's no good, very bad week continued into Wednesday trading as the leading cryptocurrency by market cap watched a whopping $150 billion shaved from its total value. As prices bombed, these were the top stories you can't miss from Wednesday, Jan. 17. Bitcoin's Drop Weighs on Everyone The most notable price decline Wednesday was bitcoin, which dipped under $10,000 for the first time since November. Breaking back under the psychological barrier is troublesome, especially since a $10,000 bitcoin has declined 50% from highs near $20,000 set in December. Bitcoin's low Wednesday reached as far as about $9,100. But bitcoin wasn't alone -- Ethereum fell as much as 18%, Ripple declined as much as
Apple to create 20,000 jobs over the next 5 years 2 Hours Ago | 01:21 Apple just announced on Wednesday it will bring back hundreds of billions of dollars from overseas to fund investment in the U.S. and likely increase its capital returns. "Apple, already the largest US taxpayer, anticipates repatriation tax payments of approximately $38 billion as required by recent changes to the tax law. A payment of that size would likely be the largest of its kind ever made," the company said in the release. Using the new 15.5 percent repatriation tax rate, the $38 billion tax payment disclosed by Apple means they are planning a $245 billion repatriation. The tax overhaul, which President Donald Trump
Bank of America Corp. just joined a roster of big U.S. lenders suffering multimillion-dollar burns on their dealings linked to Steinhoff International Holdings NV. Shares of the embattled South African retailer lost about 90 percent of their value last month after it announced Dec. 5 that it had uncovered accounting irregularities. Banks and other creditors had almost 18 billion euros ($22 billion) of exposure to Steinhoff at the end of March.