Today’s question is about how last year’s tax reform will affect an old tax deduction: the extra personal exemption we all get when we turn 65. For more information on this topic, check out “Beware These 10 Common and Costly Tax Mistakes” and “How Not to Blow Your Tax Refund.” You can also go to the search at the top of this page, put in the words “taxes” and find plenty of information on just about everything relating to this topic. Hello, everyone, and welcome to your “2-Minute Money Manager.” I’m your host, Stacy Johnson, and this question’s brought to you by MoneyTalksNews.com, serving up the best in personal finance news and advice since 1991.
Canopy Rivers, the venture-capital arm of Canopy Growth, made its debut on the Toronto Stock Exchange Thursday morning at $18.44 per share. The company, which makes minority investments in burgeoning marijuana companies, in an attempt to become the "Google Ventures of cannabis," found its way onto the exchange via a reverse takeover with a company formerly known as AIM2 Ventures.
Robinhood has suspended new buying of Aurora Cannabis through its platform, the brokerage said Wednesday. "This is happening because there's limited support at execution venues for the large volume of ACBFF orders we've received," Robinhood told users who own shares of Aurora. As of Wednesday morning, more than 81,000 investors held Aurora Cannabis shares through Robinhood, the brokerage's website shows, making it the 16th most-popular stock on the platform.
Barrick Gold Corp. is said to be in advanced negotiations to merge its operations with Africa-focused rival Randgold Resources Ltd., protecting the Toronto-based miner’s crown as the world’s largest producer of the metal. Executives from Barrick and Randgold are in Colorado Springs for the Denver Gold Forum. More from Bloomberg.com: Tariff Deadline Nears as China Cancels Trade Talks With U.S.
Warren Buffett’s conglomerate has ended the summer as a red-hot stock. While there hasn’t been any major news to account for the recent advance in Berkshire shares, it’s clear that investors like the more flexible policy on stock buybacks. Berkshire has bought “a little” stock under the new authorization, Buffett told CNBC on Aug. 30—his 88th birthday— but he didn’t provide any more specifics.
Ever since Netflix Inc.’s meteoric rise jump-started the online-TV revolution, media executives have debated how to respond. The answer, according Comcast Corp. Chief Executive Officer Brian Roberts, is do both. On Saturday, his company offered about $40 billion for Sky in a knockout bid, topping rival suitor 21st Century Fox Inc. in an auction for the European TV giant.
Treasury yields perked up last week, and contrary to what some investors believe, that’s a promising sign for stocks. As a result, stockholders may want to rotate out of some of their defensive holdings, which have done well this year, and into cyclical names, say strategists at JPMorgan Chase. Barron’s screened for promising companies in those sectors and found five with below-average valuations and healthy growth prospects: Caterpillar, KeyCorp, Parker-Hannifin, BorgWarner, and Applied Materials.
Trump has been calling publicly for OPEC to help lower prices by producing more. "We protect the countries of the Middle East, they would not be safe for very long without us, and yet they continue to push for higher and higher oil prices!" he tweeted on Thursday. OPEC and Russia have capped production since January 2017 to bolster prices.
Wall Street's convinced that Tesla will need to raise more cash, and it has some theories about how and when that may happen. Morgan Stanley said that in addition to a capital raise in 2018, Elon Musk might also need an outside partner for more financing. Wall Street remains doubtful that Tesla will go through the rest of 2018 without raising fresh capital.
RESEARCH REPORTS These reports, excerpted and edited by Barron’s, were issued recently by investment and research firms. The reports are a sampling of analysts’ thinking; they should not be considered the views or recommendations of
A shock jump in Hong Kong’s currency is signaling a decade-long liquidity party is finally coming to an end. A currency peg with the U.S., open financial borders and a booming economy meant Hong Kong property was one of the greatest beneficiaries of ultra-low lending costs in the wake of the global financial crisis. Home prices rose more than 170 percent in the past decade making the city the world’s least affordable.
DEEP DIVE On a mixed day for U.S. stocks, the Dow Jones Industrial Average hit another new closing record Friday. The Dow was up 0.3% on Friday and 2.3% for the week to close at 27,743.50 points. The S&P 500 Index (SPX) was little
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Farmers across the United States will soon begin receiving government checks as part of a billion-dollar bailout to buoy growers experiencing financial strain from President Donald Trump's trade disputes with China. "It's pretty obvious that the rural agriculture communities helped elect this administration, but the way things are going I believe farmers are going to have to vote with their checkbook when it comes time," said Kevin Skunes, a corn and soybean grower from Arthur, North Dakota and president of the National Corn Growers Association. Corn farmers get the smallest slice of the aid pie.
The U.S. stock market is back at record levels, but investors aren’t in a celebratory mood. According to the weekly survey of sentiment conducted by the American Association of Individual Investors, market participants are feeling somewhat tepid about the market, despite a lengthy move higher that took both the S&P 500 (SPX) and the Dow Jones Industrial Average (DJIA) to records on Thursday, a move that represented the first such milestone for the Dow since January.
A Thai court has ordered a local sales affiliate of Ford Motor Co. to pay 291 customers a total of about $720,000 in compensation for selling cars equipped with faulty transmissions. The Bangkok South Civil Court's decision was welcomed Friday as a victory in a country where consumers rarely win redress. Most of the plaintiffs in the class action suit will get payments of $800 to $8,000 each depending on the number of times and length of time their cars took to be repaired, the court said Friday.
The global economy is looking shaky and the economics chief at the Bank for International Settlements says central banks may be powerless if it all goes awry. Claudio Borio, a long-time critic of loose monetary policy, used the BIS’s latest Quarterly Review to highlight again that central bankers were overburdened after the global financial crisis.
India's Infrastructure Leasing & Financial Services (IL&FS) was unable to service its obligations on interest payments on non-convertible debentures that were due on Friday, the company said in a statement. The company was also unable to meet its obligations for a letter of credit payment to IDBI Bank, which were due on Thursday, it said in a stock exchange filing. In recent days, the company has also said it has been unable to service its commercial paper obligations.
Like most everything else these days, medical technology stocks have reached their highest valuations in decades. The med-tech sector is the year’s next strongest gainer. In a recent meditation on med-tech valuations, the analysts at Canaccord Genuity Group attribute med tech’s outperformance to revenue growth, merger activity, and the defensive character of health-care stocks when economic expansions slow.
Investors shouldn’t let pot stock Tilray Inc.’s (TLRY) wild trading week turn them off from the marijuana sector, rival cannabis concern Canopy Growth Corp. (CGC) CEO Bruce Linton said on CNBC Friday. The fledgling sector is much more stable than Tilray’s headlines would imply, Linton insists, after Nasdaq had to halt Tilray trading five times during Wednesday’s session. This means Tilray is not the sector proxy that Wall Street makes it out to be, Linton argued.
As Dell gets ready to become a public company again, the story it's presenting to investors is a very complicated one. Some of the large markets in which Dell competes are set to see healthy growth in the coming years, while others could struggle to see positive growth. Dell has been steadily gaining share in certain business, while losing share in others.
Tilray Inc.’s stock tumbled Friday, closing down 30%, making for a dramatic end to a turbulent week that saw the entire cannabis sector post strong gains and losses, sometimes in the same session. The latest news on the Canadian full-service pot company is the push by a Florida Republican to block it from providing the substance for use in a clinical trial in the U.S., preferring instead to use cannabis produced by American companies. Tilray (TLRY)said earlier this week that the U.S. Drug Enforcement Administration had signed off on its plan to import a marijuana product from Canada in order to test its effectiveness in treating essential tremor, a neurological disease.
Move over bitcoin and ilk: Shares of Canadian marijuana companies went through the roof this week after the U.S. Drug Enforcement Administration approved Tilray’s plan to import a medical cannabis product. The ETFMG Alternative Harvest ETF (MJ) — which holds many Canadian marijuana stocks — was up 22% for one week through Thursday.
OPEC's leader Saudi Arabia and its biggest oil-producer ally outside the group, Russia, ruled out on Sunday any immediate, additional increase in crude output, effectively rebuffing U.S. President Donald Trump's calls for action to cool the market. "I do not influence prices," Saudi Energy Minister Khalid al-Falih told reporters as OPEC and non-OPEC energy ministers gathered in Algiers for a meeting that ended with no formal recommendation for any additional supply boost. Benchmark Brent oil reached $80 a barrel this month, prompting Trump to reiterate on Thursday his demand that the Organization of the Petroleum Exporting Countries lower prices.
Bitcoin is sometimes called digital gold, and for good reason. This makes Bitcoin a potential threat to gold bulls, one that has clearly caught the attention of the industry. The World Gold Council, an industry group representing gold miners, issued a report this year arguing that “cryptocurrencies are no substitute for gold” and won’t eliminate the need for the metal even if they do become a mainstream financial asset.