Capgemini shares surge on Altran combination

Capgemini's shares surged on Tuesday on the back of the software and consultancy company's 3.6 billion euro ($4.1 billion) takeover of smaller rival Altran to create a company with more than 250,000 staff. With the acquisition, Capgemini said it hoped to tap into demand from its customers for software services in industries ranging from telecom to aerospace. The combined company would have annual revenues of 17 billion euros ($19.4 billion).

• UPDATE 1-Consulting firm Capgemini to buy Altran for 3.6 bln euros

  Reuters
• 
  Capgemini Buys Altran for $4.1 Billion to Expand in Tech

  Bloomberg

China Mobile to set up $4 billion 5G industry fund

China's largest telecommunications operator China Mobile said on Tuesday it will set up a 30 billion yuan ($4.36 billion) 5G industry fund and has already raised the first installment of 7-10 billion yuan. China Mobile Chairman Yang Jie made the announcement at a press conference in Shanghai, according to a transcript of his speech provided by the company. Yang also said China Mobile will invest 3 billion yuan into developing 5G content such as ultra-high definition videos and games.

• 
  VIAVI Delivers Wireless and Optical Test Solutions to China Mobile, Accelerating 5G Commercialization

  PR Newswire
• 
  US may require companies make 5G equipment outside of China

  Engadget

Carrefour boss rules out exiting more countries after China deal

Carrefour boss Alexandre Bompard said he had no plans to exit other countries after the French supermarket retailer agreed to sell a majority stake in its Chinese operations to electronics retailer Suning.com. "China was a very specific situation, a very small market share, a small player with losses. The other countries do not have the same configuration." Bompard told BFM Business TV on Tuesday.

• 
  Carrefour Sells Control of China Business at a Discount

  Bloomberg
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  Suning.com announces the acquisition of Carrefour China to achieve leaping development of FMCG retailing operations

  PR Newswire

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.

• 
  Young people blame climate change for their small 401(k) balances

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

  Money

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.

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.

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.

• 
  Full interview: Bernie Sanders on "Face the Nation"

  CBS News Videos
• 
  Bernie Sanders Burns Trump on Iran Strike: ‘It’s Like Setting a Fire, Then Putting It Out’

  Rolling Stone

U.S. tariffs on China-made consumer tech goods seen cutting sales, delaying upgrades

U.S. consumers will delay or forgo technology upgrades if President Donald Trump imposes a new round of 25% tariffs on Chinese goods, slowing the U.S. innovation engine, technology industry executives said on Monday. Trump's administration is preparing to levy tariffs on an additional $300 billion worth of Chinese imports after a public comment period ends on July 2 if the U.S. and Chinese presidents cannot relaunch talks to end their trade war. The two countries have been at odds since July 2018 over a host of U.S. demands that Beijing adopt policy changes that would better protect American intellectual property and make China's market more accessible to U.S. companies.

• 
  Supreme Court rejects early challenge to Trump steel tariffs

  Associated Press
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  Stock Market Reaction To Tariffs: Wall Street Has Seen This Before; The End Is Not Good

  Investor's Business Daily

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.

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.

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.

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.

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  High rollers: Eldorado buys Caesars in deal valued at $17B

  Associated Press
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  Eldorado Resorts takes on bigger rivals with $8.5 billion Caesars buy

  Reuters

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.

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.

Best Growth Stocks To Buy And Research

In the Best Growth Stocks To Buy And Research columns below, you'll see highlights of stocks on Leaderboard right now, or a look at key investing lessons learned from recent Leaderboard stocks. Best Growth Stocks To Buy And Research Technical Analysis: What Is A Buy Point? Foreseeing the move by a stock with terrific fundamentals, a No.

• 
  Here is Why Growth Investors Should Buy Starbucks (SBUX) Now

  Zacks
• 
  4 GARP Stocks to Scoop Up for Maximum Returns

  Zacks

Fed Lowers Long-Run U.S. Rate Outlook as Growth Outlook Dims

Federal Reserve policy makers are discovering they likely need to shift into an even lower gear if they are to speed up the U.S. economy. Chairman Jerome Powell and colleagues last week estimated that the so-called neutral interest rate -- the level which neither stimulates nor restricts growth -- now sits around 2.5%, down from 2.75% in March and as high as 4% in 2014. That means the Fed's current benchmark of 2.25%-2.5% is unlikely to provide the power policy makers once assumed it would, leaving eight of them anticipating they will have to reduce rates this year amid growing risks to the economic outlook.

The Best Bank for Frequent Travelers Has No ATM or Foreign Transaction Fees

“The ATM fees are the worst thing about most banks when you travel abroad,” says Bronner, since people do still use cash a lot while traveling – especially if you're going someplace where cash is king. Why It Wins: In addition to being one of the rare banks that doesn't charge you for international purchases, Capital One 360 also has low fees across the board – with no monthly service or ATM fees either (although it won't reimburse you fees charged by the ATM owner). TD Bank's new 'Beyond Checking' account is the only other one that doesn't charge you for either kind of international fee.

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.

• 
  Young people blame climate change for their small 401(k) balances

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

  Fox Business