• Big Winners of Uber, Lyft IPOs Won’t Be the Usual Suspects
    Bloomberg2 days ago

    Big Winners of Uber, Lyft IPOs Won’t Be the Usual Suspects

    The filings submitted by Uber and Lyft aren’t yet public, but people familiar with each business outlined the largest shareholders. The top holders of America’s main ride-hailing companies are both from Japan: SoftBank Group Corp. and Rakuten Inc., said the people, who asked not to be identified because they weren’t authorized to discuss the information publicly. Matt Kallman, a spokesman for Uber, and Alexandra LaManna, a spokeswoman for Lyft, declined to comment.

  • The Stock Market Is Having Its Worst Year in a Decade. Here's What to Do Now, Depending on Your Age
    Money13 hours ago

    The Stock Market Is Having Its Worst Year in a Decade. Here's What to Do Now, Depending on Your Age

    For instance, an investor with 90% in stocks and 10% in bonds at the start of the financial crisis in 2008 would have been down more than 40% in March 2009, when the market bottomed out. But, assuming they avoided cashing out, they’d have broken even by mid-2011, just over three years later, according to data from Morningstar. By the start of this year, they’d have more than doubled their money.

  • CNBC2 days ago

    How a late night phone call from Warren Buffett in 2008 may have helped save the US economy

    In October 2008, in the midst of the financial crisis, Berkshire Hathaway CEO Warren Buffett made a late-night phone call to then-Treasury Secretary Henry "Hank" Paulson, with an idea about how the government might be able to turn the economy around. Paulson was asleep. "I was exhausted," he recounts on Vice Special Report's " Panic: The Untold Story of the 2008 Financial Crisis ," a documentary that debuted Monday night on HBO .

  • Apple to build new $1 billion campus in Texas
    Reuters25 minutes ago

    Apple to build new $1 billion campus in Texas

    Apple Inc (AAPL.O) is investing $1 billion to build a new campus in North Austin, Texas and will spend another $10 billion for new data centers as part of a five-year investment aimed at creating 20,000 jobs in the United States. The Cupertino-based company said on Thursday it would also to set up new sites in Seattle, San Diego and Culver City, California and expand operations in Pittsburgh, New York and Boulder, Colorado over the next three years. Apple, which gets over half its revenue from outside the United States, has faced increasing political pressure to ramp up investments at home since 2016, when then presidential candidate Donald Trump targeted the company for using Asian factorie...

  • After losing half its value, Nvidia faces reckoning
    TechCrunch16 hours ago

    After losing half its value, Nvidia faces reckoning

    Nvidia is a company that has reached the highest highs and the lowest lows, all in the span of a couple of weeks. Over the past two months, Nvidia’s stock has dropped from a closing price of $289.36 on Oct. 1 to today’s opening of $148.42, a decline of 48.8%. It takes a lot for a company to lose nearly half its value in such a short period of time, but Nvidia is proving that an otherwise strong technology business can disappear in a blink of an eye.

  • Saudi Arabia Is Shipping 6,000 Tons of Shrimp a Week to China
    Bloomberg21 hours ago

    Saudi Arabia Is Shipping 6,000 Tons of Shrimp a Week to China

    The world’s largest oil exporter has shipped 6,000 tons of the crustaceans to China since last week, Ahmed Al-Bala’a, chief executive officer of the National Aquaculture Group, said in a statement. Saudi Arabia is testing the waters in China for shrimp as it seeks to reduce its reliance on oil and develop new industries and lines of business. Saudi shrimp exports to China should exceed 30,000 tons by the end of the year, said Al-Bala’a, whose closely held company operates a sprawling network of shrimp farms on the Red Sea coast.

  • The Dow wiped out a nearly 450-point jump, is this the ma...
    CNBC Videos11 hours ago

    The Dow wiped out a nearly 450-point jump, is this the ma...

    Stocks cut gains into the close. What can save this market? With CNBC's Brian Sullivan and the Fast Money traders, Tim Seymour, Pete Najarian, Brian Kelly and Guy Adami.

  • Here's how much you need to earn to live in the Bay Area's most expensive neighborhoods
    American City Business Journals12 hours ago

    Here's how much you need to earn to live in the Bay Area's most expensive neighborhoods

    While realtors and economists are seeing some signs that the Bay Area's housing market is starting to cool, median home prices in the region are up year over year. In the Bay Area's ritziest neighborhoods, rising home prices means the income needed to afford those jumbo mortgages are sky-high these days. Business Times' research crunched the numbers on Bay Area ZIP codes to find which ones require the highest salaries to afford a median priced home.

  • Fox Business16 hours ago

    Retirement crisis: Do you have enough saved? Here's how to tell

    What’s worse, more than 46 percent of workers were actually “significantly” below – which was measured as more than four times pay below – their savings targets. Another 20 percent fell into the two- to four-times below target category, while 15 percent were two times, or less, below their retirement goals. On average, employees are contributing about 8 percent of their pay to retirement accounts.

  • Inside Huawei's Secret HQ, China Is Shaping the Future
    Bloomberg5 hours ago

    Inside Huawei's Secret HQ, China Is Shaping the Future

    Yet the mock-up room, called the "vertical industries exhibition hall," welcomes guests and imagines a future where companies and governments use Huawei’s cloud and AI to crunch data, spur sales and make cities see and hear everything. Huawei’s Enterprise Business Group, which trails networking and smartphones in sales, sells components and services for internet-connected devices, smart cities and cloud products. It will net more than $10 billion in revenue this year, about a 10th of the company’s overall total, Qiu Heng, the division’s chief marketing officer, said in an interview in November.

  • Toyota recalls 70,000 vehicles to replace air bag inflators
    Associated Press14 hours ago

    Toyota recalls 70,000 vehicles to replace air bag inflators

    Toyota is recalling about 70,000 Toyota and Lexus brand vehicles in North America to replace air bag inflators that could explode and hurl shrapnel at drivers and passengers. Takata uses the chemical ammonium nitrate to create a small explosion and inflate the bags. The Toyota and Lexus vehicles were recalled previously and the inflators replaced with new ones that still used ammonium nitrate.

  • 3 Chip Stocks to Buy for the Next 3 Years
    InvestorPlace2 days ago

    3 Chip Stocks to Buy for the Next 3 Years

    Chip stocks have been among the market’s biggest winners over the past several years. Huge demand tailwinds from the data center, cloud computing, connected device and artificial intelligence (AI) markets have converged on a limited-supply base, creating a “high demand, low supply” dynamic in the chip market wherein chip prices are soaring. Such improvements have driven huge gains in chip stocks. Chip supply won’t remain subdued forever — it is already ramping to meet demand, and there are some reports out there that chip prices may have already peaked.

  • Natural Gas Price Forecast – natural gas markets break major triangle
    FX Empire16 hours ago

    Natural Gas Price Forecast – natural gas markets break major triangle

    Natural gas markets have broken down significantly during the trading session on Wednesday, breaking through the bottom part of a descending triangle. That’s a very negative sign, and I think it’s only a matter of time before we see a move towards the $4.00 level, an area that is massive support. It’s also supported by the fact that it’s not only a large come around, psychologically significant number, but it also has the 50 day EMA attached to it.

  • TheStreet.com9 hours ago

    The Alternative Minimum Tax and What To Know For 2019

    The alternative minimum tax (AMT) is a great example of how legislation passed in Washington, D.C. can backfire on the general public. The AMT is best described as a parallel tax category created by Congress to operate alongside the traditional federal income tax. The AMT calls for certain taxpayers to calculate their tax liability two times - first under the regulations laid out for regular income taxes and a second time to comply with AMT rules and mandates.

  • TheStreet.com18 hours ago

    Farm Bill Passes, and These Hemp Companies Will Be Big Winners

    Top 5 Hemp Companies Cannabis research firm Brightfield Group found that hemp-derived CBD (cannabidiol) sales in the U.S. hit $291 million in 2017. Brightfield also said that with the anticipated passing of the 2018 U.S. Farm Bill, the hemp-derived CBD market is expected to quickly go mainstream and become a $5.7 billion market by next year, and a $22 billion market by 2022 -- nearly 40x its current size. This number tends to be larger than most other hemp market estimates.

  • GE shares fall as low as $6.66, its closing price low during the financial crisis
    CNBC2 days ago

    GE shares fall as low as $6.66, its closing price low during the financial crisis

    GE shares fell in Tuesday trading as far as the lowest close during the financial crisis. General Electric GE shares fell as low as $6.66 share in trading Tuesday, a level which marked the lowest close for the stock during the financial crisis a decade ago. Despite a brief rally after the appointment of Larry Culp as chairman and CEO, the beleaguered industrial company's stock has sold off.

  • Samsung to shut mobile phone plant in China's Tianjin
    Reuters22 hours ago

    Samsung to shut mobile phone plant in China's Tianjin

    Samsung Electronics will cease operations at one of its mobile phone manufacturing plants in China, the company said, as its sales in the world's biggest smartphone market slumps amid rising competition from lower-cost local rivals. The South Korean company has seen its share of the Chinese market shrink to 1 percent in the first quarter of this year, losing out to home-grown brands like Huawei, according to market research firm Counterpoint, which pegs Samsung's share of the pie at about 15 percent at mid-2013. "As part of ongoing efforts to enhance efficiency in our production facilities, Samsung Electronics has arrived at the difficult decision to cease operations of Tianjin Samsung Electronics Telecommunication," Samsung said in a statement, referring to the plant in northern Chinese city of Tianjin.

  • $3B company relocating HQ from California to North Texas
    American City Business Journals18 hours ago

    $3B company relocating HQ from California to North Texas

    A global medical technologies company is relocating its corporate headquarters from California to North Texas. The latest in a steady stream of moves from California to Texas, DJO plans to move its operations from San Diego to Lewisville within the first few months of 2019, according to a release. The company provides products that assist in injury prevention, rehabilitation and more.

  • Here’s what smart rich people really do with their nest egg
    MarketWatch2 days ago

    Here’s what smart rich people really do with their nest egg

    Most people think they’re above average in intelligence, relationship status and professional achievement. Social scientists call this “illusory superiority.” My business partner Scott Puritz, has found the one area where even above-average people, objectively smart, rich, successful professionals, seem to wave the white flag and admit to not understanding — money and investing. “One of the most shocking things is the low-level financial literacy throughout our culture,” Puritz told the Washington Post.

  • Bloomberg16 hours ago

    A Harvard Professor Made $400 Million in Moderna’s Biotech IPO

    I have an academic lifestyle,” Springer said in an interview. I’m not into ramen noodles, but my friends are academics, so it doesn’t really behoove me to be flashy. His few indulgences include a modernist home in Boston's upscale Chestnut Hill neighborhood, where Springer, 70, devotes his surplus energy to keeping a prolific garden.

  • Fox Business2 days ago

    Inside business in China: Motorola CEO details Huawei theft

    Long before trade tensions between the U.S. and China, Motorola was thriving in what is now described as a “tough” environment to conduct business. It began more than 45 years ago, when President Richard Nixon first visited China and spoke on a Motorola-provided satellite phone, which eventually lead to Motorola becoming one of the first companies in China. In 1986 Robert Galvin, former chairman of the Motorola board of directors, led a delegation to China with the goal of learning how China and Motorola could benefit from investments and technology transfers.

  • Apple could end up manufacturing iPhones in another country due to tariffs
    TechCrunch19 hours ago

    Apple could end up manufacturing iPhones in another country due to tariffs

    According to a new report from Bloomberg, Apple is thinking about multiple scenarios when it comes to tariffs and iPhone production. Right now, iPhones are not affected directly by the trade war between China and the U.S. But if U.S. President Donald Trump decides to raise tariffs on smartphones, it could be a big deal for the company. Apple manufactures most of its iPhones in China right now and works with Foxconn for the final assembly of those devices.

  • TheStreet.comyesterday

    Jim Cramer: Don't Buy Tech ETFs, Buy Strong Tech Stocks

    First, we had the collapse of Apple via order cutbacks of virtually all of its suppliers, and there is no denying that sales are weaker, perhaps because of issues with China, perhaps because the company hit a price retaining wall, perhaps because of worldwide slowing. Both of these chip companies are remarkable, Nvidia because of its incredible technological edge and AMD because of its grit and its comeback with faster, better and cheaper products for personal computers and the data center. The same Nvidia and AMD cards that are used for gaming are also used for crypto-mining.

  • There could be an unlikely place to hide out if a recession is coming: Housing
    CNBC2 days ago

    There could be an unlikely place to hide out if a recession is coming: Housing

    The U.S. housing market has weathered all the recessions since 1980, with the exception of the Great Recession of 2008, Jefferies pointed out in a recent note. The FHFA U.S. house price index rose by an average of 7.4 percent in the year prior to a recession and prices rose an average of 2.7 percent from the start of a recession to the end, the note stated. "Other than during the GFC (Great Financial Crisis), home prices have kept rising even during recessions, probably because rates fall, the vast majority of people retained jobs and household formation continues," said Thomas J. Thornton, Jefferies' head of U.S. equity product management, in the note to clients Saturday.