Woohoo! Under the final tax bill President Trump is poised to sign within days, my annual tax payment would drop by about $2,100, compared with what I paid in 2016. Instead, I’ll probably save it and try to earn a respectable rate of return, so I have the money on hand in the future if Congress has to raise taxes to fill the budget hole they’re creating by cutting taxes in 2017. House and Senate Republicans have now agreed on a final tax bill Congress seems likely to pass within days.
Metlife Inc failed to pay pensions to potentially tens of thousands of people and will have to strengthen its reserves because of the costs of finding and repaying them, the New York insurer said. Metlife said in a filing on Friday that it believed the group missing out on the payments represented less than 5 percent of about 600,000 people who receive benefits from the company via its retirement business. When taken, however, the increase to reserves could be material to Metlife's financial results.
Shares of Alibaba (BABA) are lower this morning, but MKM Partners doesn't think the stock will be down for long. Analyst Rob Sanderson reiterated a Buy rating and $200 price target on the stock Friday, writing that Alibaba still has the best fundamentals among its mega-cap peers, and that the recent selloff is a buying opportunity. He attributes the weakness in the shares to sector rotation out of large-cap internet stocks, lower Asian stocks in general, and data from the National Bureau of Statistics of China that showed online sales of physical goods decelerated by 600bps (to 21%) from October to November. That may sound bad, but he argues that the data is volatile, and Alibaba reported 39% year-over-year
The best blue-chip stocks to buy for 2018 can anchor your portfolio and give you some peace of mind. After a nine-year rally, investors can protect their downside potential by buying large, diversified, quality businesses with long track records of excellence, world-renowned brands, and a willingness to pay dividends. Apple is a must-own in most diversified portfolios and is extremely well-positioned to be the world's first $1 trillion company.
Forget about electric cars with fuzzy prospects for profit or robotaxis that don’t yet exist. Detroit’s real big-money grudge match is over pickup trucks -- and it’s about to get nasty. General Motors Co. and Fiat Chrysler Automobiles NV are planning to show redesigned full-size models at the Detroit auto show in January and start selling them later in the year. Both are trying to steal back some of the momentum that rival Ford Motor Co. has generated by overhauling its F-150 and bigger Super Duty trucks. The stakes are massive. Detroit’s three automakers sell more than 2 million large pickups a year in the U.S., generating annual revenue of more than $90 billion. Morningstar Inc. estimates that
Ripple is on its way to the top. The cryptocurrency surpassed bitcoin cash, an offshoot of bitcoin, to become the third-largest digital currency by market cap on Friday, Dec. 15. Ripple now boasts a $30.2 billion total value, about $1 billion more than bitcoin cash. Bitcoin still leads the market with a $298.5 billion market cap. Friday's major move came as ripple reached a record high of 90 cents per coin, up almost 300% in three days. In early trading, ripple had simmered down slightly, but was still higher 16.4% to 78 cents per coin. Ripple trades relatively cheaply compared to the other top crypto assets. At the start of this year, ripple went for just 0.006 cents each. It wasn't until March
Here are key changes to U.S. tax law for individuals and businesses that have emerged from the final Republican bill that’s headed for votes in the House and Senate next week. Corporate Tax Rate Current law: 35 percent Proposed: 21 percent, beginning in 2018. Individual State and Local Tax Deductions Current law: Individuals can deduct the state and local taxes they pay, but the value is subject to certain limits for high earners. Proposed: Individuals can deduct no more than $10,000 worth of the deductions, which could include a combination of property taxes and either sales or income taxes. Obamacare Individual Mandate Current law: An individual who fails to buy health insurance must pay penalties
Tesla (TSLA) has had trouble with production delays--remember when they were making cars by hand?--but now that those issues are finally being resolved, the stock could rocket higher, at least for a while, says Morgan Stanley. Analyst Adam Jonas and his team reiterated an Equal Weight rating and $379 price target on the stock Friday. That said, he sees the potential for the stock to be much higher. Jonas writes that while the market is starting to discount the "very high likelihood" that the production bottleneck in Nevada will be resolved, potentially as soon as the middle of the first quarter of next year, investors may be "seriously underestimating" the positive impact of Tesla's working capital
The “Fast Money” traders discuss whether a 'Santa Claus' rally is ahead for the market as anticipation for tax reform ramps up.
Yesterday, in a landmark decision, the U.S. telecom regulator Federal Communications Commission (FCC) repealed the Net Neutrality laws that it had imposed under the Obama regime. Ever since President Trump elected existing Republican commissioner Ajit Pai as the chairman of the FCC in January 2017, the fate of Net Neutrality was at stake. On Feb 26, 2015, the FCC under the chairmanship of Tom Wheeler adopted Net Neutrality implying an open-Internet atmosphere, which will prohibit ISPs (Internet Service Providers), especially the telecom and cable TV operators, from discriminating against applications.
The deal brings to a close more than half a century of expansion by Murdoch, 86, who turned a single Australian newspaper he inherited from his father at the age of 21 into one of the world's most important global news and film conglomerates. The new, slimmed down Fox will focus on TV news and sport. Early indications are that the deal will not face strong resistance from antitrust regulators as AT&T Corp's bid to acquire Time Warner Inc has done.
By Heather Somerville SAN FRANCISCO (Reuters) - Ride hailing company Uber was obligated to turn over to a U.S. federal judge a letter from a former employee that told of the company's "fraud and theft" and mentioned evidence of stolen trade secrets nailed "like a scalp" to the wall, a court official said Friday. Special master, John Cooper, assigned to a lawsuit against Uber Technologies Inc [UBER.UL] by Alphabet Inc's self-driving car unit, Waymo, released a report on Friday stating the company should have produced the letter and was wrong in keeping it from the court. The letter, from former Uber security analyst Richard Jacobs alleging Uber engaged in illegal and unethical competitive tactics and had stolen trade secrets, is at the heart of Waymo's lawsuit against Uber.
By Jemima Kelly LONDON (Reuters) - Bitcoin blasted to another all-time high of almost $18,000 on the Bitstamp exchange on Friday, up 9 percent on the day, as warnings grew over the risks of investing in the highly volatile and speculative instrument. Bitcoin has climbed almost 80 percent so far in December alone, putting it on track for its best month in percentage terms since December 2013. While bitcoin has added another fifth to its value since Monday, trading has been slightly calmer than the wild price swings the market has seen in recent weeks, with volatility lower since the launch of bitcoin futures from Cboe Global Markets on Sunday.
California reached a deal on legislation to raise the state minimum wage across all businesses to $15 per hour by 2023, a move that could cost the state hundreds of thousands of jobs, according to a new report. A study conducted by the Employment Policies Institute (EPI), which analyzed employment trends from 1990 through 2017, found that each 10% increase in the minimum wage in the Golden State has resulted in a corresponding 2% decline in employment for affected employees. By those estimates, the EPI projects that the pending $15 minimum wage hike would cost California 400,000 private sector jobs, with heavy losses in both the foodservice and retail sectors.
Campbell Soup (CPB) is in advanced talks to acquire snacks company Snyder's-Lance (LNCE), owner of Cape Cod potato chips and Snyder's pretzels, sources familiar with the situation said on Friday. The deal, which would be Campbell's largest yet, could be announced as soon as next week, they added. The deal could value Snyder's at roughly $50 a share, one of the sources said.
After the closing bell yesterday, software giant Oracle ORCL reported fiscal second-quarter 2018 results. While the company beat the Zacks Consensus Estimate for revenues and earnings, it disappointed investors with a bleak outlook.Oracle Q2 Earnings
Stocks (^DJI, ^GSPC, ^IXIC) hit records as investors await the release of an updated tax bill. Catch The Final Round at 3:55 p.m. with Jen Rogers, Yahoo Finance editor-in-chief Andy Serwer, reporter Melody Hahm and markets correspondent Myles Udland.
Dec.15 -- Techonomy CEO David Kirkpatrick and Bloomberg's Cory Johnson discuss the outlook for tech stocks in 2018 with Bloomberg's Emily Chang on "Bloomberg Technology."
Ripple's XRP overtook bitcoin cash to become the third most valuable cryptocurrency on Thursday. Bitcoin cash is falling on Friday after dropping a spot on the most valuable cryptocurrencies list. Bitcoin cash was created earlier this year when it split from bitcoin. Some bitcoin miners were unhappy with the direction of the cryptocurrency and decided to clone bitcoin's payments history and begin going in their own direction.
Trading in Bitcoin futures began Sunday (12/10) on the CBOE. Cboe’s bitcoin futures are on track for a stellar first week, the CME will launch its own contract Monday and Nasdaq plans to do the same next year. This number is still small compared to the number of Americans who have traditional investments.
Wall Street's three major indexes climbed to record closing highs on Friday with broad-based gains as a long-awaited bill to cut corporate tax rates looked like it would win enough support from lawmakers to pass. Republican Senator Bob Corker joined Senator Marco Rubio in signalling support in the late afternoon. Rubio had criticized the initial proposal, saying it did not give enough tax relief to working families, while Corker, had expressed concerned about the bill's impact on the federal deficit.
(Reuters) - CSX Corp's shares tumbled on Friday in premarket trading after the No. 3 U.S. railroad said Chief Executive Hunter Harrison was taking medical leave for unexpected complications from a recent unspecified illness. The leave comes amid
The top tax rate that U.S. companies would pay on an estimated $3.1 trillion in earnings they’ve stockpiled overseas crept up to 15.5 percent in the final version of the GOP tax bill released Friday. President Donald Trump had initially called for a top rate around 10 percent for companies’ offshore profits, but as GOP lawmakers searched for revenue to offset the cost of other tax cuts, one of the sources they settled on was multinationals’ offshore cash. Under the GOP tax plan that’s headed for votes in the House and Senate next week, earnings that companies hold offshore as cash and cash equivalents would be taxed at 15.5 percent. Income invested in less-liquid assets -- including plants and
At the end of every year, millions of Americans can make strategic moves to shave a few bucks off their April tax bill. Right now, millions more should be able to get into the act, with Congressional Republicans poised to pass a 503-page law that fundamentally
Stocks finished the week at all-time highs as the Republicans in Congress inched closer to passing their tax reform bill. The S&P 500 rose 0.9% this week after gaining 0.9% to 2675.81 today, while the Dow Jones Industrial Average gained 322.58 points, or 1.3%, this week after advancing 143.08 points, or 0.6%, to 24,651.74 today. The Nasdaq Composite climbed 1.4% this week after jumped 1.2% to 6936.58 today. The folks at Todd Market Forecast expect stocks to recover quickly from yesterday's dip, just not this quick: Renewed optimism for the passage of a tax bill pushed the market higher on Friday. A couple of doubtful Senators announced that they were on board. Also, a number of firms were on