Fiat Chrysler-Renault tie up: What the maker of Jeep could gain

Fiat Chrysler Automobiles and Renault are reportedly in talks that could result in merging vast swaths of their businesses, a move that illustrates the growing desire among automakers to consolidate in an environment of increased regulatory pressure, sales declines and rising costs aimed at bringing next-generation technologies like self-driving cars to market. Bloomberg, Financial Times, and the Wall Street Journal have reported on talks of a tie up that could result in Fiat Chrysler eventually becoming part of the Renault-Nissan Motor alliance. For now, the deal doesn't include Nissan, according to Bloomberg.

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  Renault in team-up talks with Fiat Chrysler: reports

  AFP
• Fiat Chrysler in talks to forge extensive ties with Renault - Financial Times

  Reuters

Global Payments, Total System Have Held Tie-Up Talks, Sources Say

A representative for Global Payments declined to comment, while a Total System Services representative didn't respond to requests for comment. Global Payments shares rose 4.6% to $154.85 at 1:05 p.m. in New York, valuing the company at about $24.3 billion. Total System Services jumped the most in nine years to $111.66 for a market valuation of $19.8 billion.

• Global Payments could announce $20 billion deal for Total System Services on Tuesday: CNBC

  MarketWatch
• UPDATE 2-Global Payments nearing $20 bln deal to buy Total System - source

  Reuters

Avoid Paying Taxes on Social Security Income

Some people have to pay federal income taxes on the Social Security benefits they receive. Typically, this occurs only when individuals receive benefits and have other substantial sources of income from wages, self-employed earnings, interest, dividends, required minimum distributions from qualified retirement accounts, and other taxable income that must be reported on their tax returns. Taxable Social Security Income In accordance with Internal Revenue Service (IRS) rules, you won't pay federal income tax on more than 85% of your Social Security benefits.

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  4 Ways to Score Higher Social Security Benefits

  Motley Fool
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  A Social Security Dollar Doesn't Go as Far as It Used To -- Here's Why

  Motley Fool

25 Stocks to Avoid After Memorial Day

Below, we take a look at the 25 worst stocks to own the week of Memorial Day. Looking at S&P 500 Index stocks over the past 10 years -- and considering only stocks with at least eight years' worth of returns -- a handful of bank names made the list. STI and FITB have ended the week lower 80% of the time, averaging losses of 2.49% and 2.07%, respectively, per data from Schaeffer's Senior Quantitative Analyst Rocky White.

The Silver Lining Of An Oil Price Crash

It has been a dismal week for oil prices despite a slight recovery on Friday morning, but there may be a silver lining to the most recent price crash. Oil rebounded on Friday but it was not enough to erase the roughly 7 percent meltdown seen on Thursday. The trade war is starting to become a top concern for global equity and commodity markets.

How China could use its massive US debt holdings as a trade war weapon

China is currently the largest holder of U.S. government debt. It now owns $1.12 trillion in U.S. Treasury bonds. If China decided to sell off its U.S. government debt holdings as a form of retaliation in the ongoing trade war with the U.S. and President Donald Trump, it could upend global financial markets and drive U.S. interest rates higher.

Oklahoma reaches $85 million settlement with Teva Pharmaceuticals ahead of trial

Oklahoma has reached a $85 million settlement agreement with Israeli-based Teva Pharmaceutical Industries Ltd ahead of the start of a trial in a multibillion-dollar lawsuit over the opioid epidemic, the state's attorney general said on Sunday. While the terms of the agreement may take up to two weeks to finalize, the money will go to the state and be used to abate the opioid crisis in Oklahoma, Attorney General Mike Hunter said in a statement. An announcement of the specific terms of the agreement will be made at a later date, Hunter's statement said.

Jet Airways founder Naresh Goyal and wife stopped from leaving India - airport official

The couple were taken into custody by immigration officers, the Indian Express reported, citing sources. Local media, citing sources, reported earlier this month that the ministry of corporate affairs had been looking into Jet's books and had asked for a corporate fraud investigation into the airline, suspecting that its promoters siphoned off funds. Once one of India's largest carriers, Jet was forced to ground all flights last month after running out of money and failing to secure funds, crippled by mounting losses as it attempted to compete with low-cost rivals.

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  India's beleaguered Jet Airways founder held at airport

  AFP
• Jet Airways founder stopped from leaving India

  Financial Times

Could Ford Buy Tesla? Here's How Likely A "Doomsday" Scenario Is

The auto maker is burning through $1 billion in cash a quarter, the cash from the latest $2.7 billion funding round will be gone within ten months, and demand is falling off. One of the classic business solutions would be an acquisition. Maybe a white knight with the cash and managerial and operational wherewithal to come in, buy the company, fix the broken parts, and let Tesla become what it had the potential to be.

Newly legalized hemp industry set to create a jobs boom in the US

A provision in the 2018 Farm Bill makes hemp, marijuana's no-buzz cousin, no longer a federally illegal substance. It allows farmers and other cultivators to grow the leafy, lanky plant and sell its harvest to processors so they can make hemp-based products ranging from foods, beverages and cosmetics to paper, clothing and building materials. Twenty-four states have hemp farming.

Huawei's 'fake demand' distorted global semiconductor growth

In the months leading up to Washington's decision to ban Huawei from doing business with US suppliers, the Chinese company stockpiled nearly a years worth of components in anticipation of coming headwinds. Now, the global semiconductor sector may have to pay for it. In all, analyst Sebastian Hou says the Chinese company's inventory buildup added 8% to the chip sector's global revenue growth in the 1st quarter, or $35 to $40 billion.

Here's how the world's billionaires make their money

Most billionaires in the world didn't inherit their wealth. Most billionaires put their money into public holdings — 36.4% of their portfolios were allocated to this asset class — followed by private holdings at 35%, liquid assets such as cash at 26.4%, and real estate and luxury assets at around 2.2%. Breaking the group down, those with $1 to $2 billion in assets generally invested mostly in liquid assets, while those with over $50 billion invested mostly in public holdings.

JD.com and Alibaba slug it out in blockchain space

Chinese e-commerce giant JD.com has applied for over 200 blockchain patents, according to a report by Securities Daily News. Its rival Alibaba Group has, meanwhile, applied for 262 patents in this space, as recorded by the Intellectual Property Center of China Information and Communication. Pushing boundaries Last month, we reported that JD.com had launched JD Chain, a blockchain framework for businesses.

• Stifel Adds Alibaba To Select List, Sees 40% Upside Potential

  Benzinga
• Alibaba ADRs Have 40% Upside Because Trade-War Fears Can’t Overshadow Long-Term Growth

  Barrons.com

Josh Brown: How to double your money

Ritholtz Wealth Management CEO and Fast Money Halftime Report Trader Josh Brown on the power of compounding your money and the rule of 72.

U.S Mortgages – Mortgage Rates Fall for a 4th Consecutive Week

Mortgage rates fell for a 4th consecutive week in the week ending 23rd May. 30-year fixed rates fell by 1 basis point following on from a 3 basis point fall from the previous week. The 1 basis point fall took 30-year rates to 4.06% according to figures released by Freddie Mac. Following the weekly fall, 30-year fixed rates stood 60 basis points below levels from 12-months ago.

Michigan Legislature approves bill to cut high auto premiums

Michigan's Legislature on Friday passed a landmark bill that would cut the country's highest auto insurance premiums by letting drivers forego a one-of-a-kind requirement to buy unlimited medical coverage for crash injuries. The votes followed the announcement of an agreement between Republican legislative leaders and Democratic Gov. Gretchen Whitmer. She said the legislation would guarantee rate reductions for every motorist and offer choice among personal injury protection, or PIP, levels.

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  Bipartisan Deal Aims to Lower Michigan's Highest-in-the-Nation Car Insurance Premiums

  Car and Driver
• The Latest: Michigan Legislature passes auto insurance bill

  Associated Press

China's largest chipmaker is delisting from the Nasdaq

SMIC, which is backed by the Chinese government and state-owned shareholders, will focus on its existing Hong Kong listing going forward but there will be trading options for those holding U.S-based ADRs. In its announcement, SMIC said it plans to delist for reasons that include limited trading volumes and "significant administrative burden and costs" around the listing and compliance with reporting. What it doesn't say is that this is linked to the frosty relationship between the U.S. and China, and already the company has played that rationale.

4 Dow Jones Industrial Average Stocks to Sell

The next major milestone is whether President Donald Trump and Chinese President Xi Jinping will meet on the sidelines of the G20 meeting in Japan next month. The White House is reportedly considering even more restrictions on exports of high-tech goods to China, as it seems that what started as a bilateral trade spat is turning into a global tech war, with the United States pulling allies such as Japan into its effort to freeze out Huawei. As a result, a number of large-cap stocks in the Dow Jones Industrial Average are looking vulnerable to a selloff.

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  Dow Jones Leads As Stock Market Caps Volatile Week With Gains

  Investor's Business Daily
• US STOCKS-Wall St clings to gains on trade hopes

  Reuters