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.
Delta CEO Ed Bastian attributes the recent spate of computer network failures at major airlines to the lack of investment over the past decade. Bastian believes technology is best used as a means to improve the customer experience at Delta. The airline industry is not known for making money.
After a 23-year career at Microsoft and two-years at Juniper Networks, Bob Muglia has spent the last four years in his first CEO role, happily running a fast-growing cloud database startup called Snowflake. Muglia is also the first to admit that he will also forever be known as the guy who suffered two pretty humiliating career crashes under former Microsoft CEO Steve Ballmer.
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."
Something very telling has happened over the last three days in the gold market. "The last three days have reconfirmed by commitment for a much higher gold price in 2018. We are making higher lows for the year - the recent behavior made me nervous, but something very telling happened in the last three days," says longtime commodities trader Vince Lanci, founder of Echobay Partners. Lanci noted he could see the metal hitting $1,700 an ounce or higher in 2018. If correct, his forecast would be an over $450 rally from the current level of $1,250 an ounce. "On Tuesday we had a short covering rally. And Wednesday there was a 10,000 contract increase in December - that's very unusual, that is an over
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.
Aerospace and defense group Thales has agreed to buy chipmaker Gemalto for 4.8 billion euros ($5.6 billion), trumping an earlier bid by fellow French firm Atos to expand in the fast-growing digital security market. The bidding race for Gemalto has come after a difficult year for the Franco-Dutch group in which profit warnings have hurt its share price and overshadowed its attempt to shift from a slowing market for phone SIM cards towards security services such as data encryption and biometric passports. "This is a terrific project," Thales CEO Patrice Caine told reporters on Sunday.
Striking workers idled Israel’s international airport, government offices, banks and stock market for half a day, pressing to scale back Teva Pharmaceutical Industries Ltd.’s plan to fire 25 percent of its employees. Teva workers protesting near facilities around the country tied up morning rush-hour traffic on Sunday and burned tires outside a Jerusalem factory where a group of employees barricaded themselves inside. A solidarity walkout called by the Histadrut labor federation lasted until noon, in response to Teva management’s announcement on Thursday that it would cut 1,700 jobs and shut down two plants in the country. The firings are part of a bigger plan to slash 14,000 jobs worldwide as
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.
As the GOP released its final version of the long-awaited Republican tax overhaul, CNBC's Jim Cramer told a caller that mid-cap stocks would "absolutely" benefit from the bill. The proposed plan would include tax cuts for corporations, lower rates for individuals and altered tax deductions. Supporters of the bill argue that corporate tax cuts will spur business investment, hiring and economic growth. "Mid-caps tend to be domestic, so you're not dealing with companies that have far-flung operations that won't benefit from a lower corporate tax rate," the "Mad Money" host said. "I think you've got real horse sense." But with little reaction from the bond markets to the tax plan's proceedings, another
MarketWatch rounded up 10 of its most interesting topics over the past week. 1. Bitcoin futures Playing bitcoin BTCUSD, +2.60% got a lot easier for investors when Cboe Global Markets launched a January futures contract under the symbol XBT XBTF8, +7.68% on Dec. 10. Here are the risks and opportunities from this new ability to go long or short bitcoin. 2. Cryptocurrencies for 2018 Analysts share their thoughts about how seven bitcoin rivals may perform in 2018. 3. Stocks related to cryptocurrencies might be less risky Rather than speculating on bitcoin, it might be safer to invest in stocks of companies that benefit from cryptocurrency trading. And Jeff Reeves says that while he is “impressed
This is a preview of a research report from BI Intelligence, Business Insider's premium research service. To learn more about BI Intelligence, click here. No firm is immune from the coming disruption and every company must have a strategy to harness the powerful advantages of the new fintech revolution.
She was fired. Or was she? Omarosa Manigault Newman, who served as communications director for the Office of Public Liaison at the White House, resigned Tuesday. She previously appeared on “The Apprentice,” the show Donald Trump hosted before he was president. She left the White House to “pursue other opportunities” and will remain in her job until Jan. 20, according to a statement from the White House. However, some media reports said Newman was “physically dragged” and “escorted” from the White House campus. She appeared on ABC’s “Good Morning America” Thursday and said she resigned after seeing situations in the White House that made her “uncomfortable.” “[Chief of Staff] John Kelly and I
It’s the end of the year, and for those of us in the newsroom who spend far too much time hunting tips, charts and RTs on Finance Twitter TWTR, -1.55% that means one thing: time to update our annual list of who to follow. Our 2016 edition was all about the names that might offer a heads-up on market tumult (remember when we were worried about that?!). For 2017, we put together a comprehensive list that, honestly, still stands for 2018. (A full roundup is available in one Twitter list right here.) This year... it’s all about crypto. But before we dive head-first into the blockchain, we’ve been asking you, our readers, for 2018 nominees and a few of you spotted that we were under-representing accounts
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
(Correction: Goldman Sachs raised its 2018 price target for West Texas Intermediate crude oil to $57.50, not $62.) Oil has failed to stage a sustained rally so many times, you couldn’t blame an investor from avoiding the industry altogether. But this time might be different. West Texas Intermediate (WTI) crude oil CL1, +0.33% rose 21% to $57.62 a barrel as of Dec. 5 from Aug. 21. On Dec. 4, Goldman Sachs increased its 2018 price forecast for WTI to $57.50 from $55. A year ago, many energy-industry analysts and market gurus expected 2017 to be a year of massive gains for energy stocks amid an oil recovery. It didn’t turn out that way, as the price stalled in March and then again in May and June:
A relatively small investment now can make your child’s life so much easier when he or she grows upYou can make buying a home much easier for your child than it was for you. Open a mutual fund account for your child and set an automatic monthly investment so that by the time he or she is ready to take the plunge and buy a home, the down payment money is available.
CNBC's Bertha Coombs reports that Procter & Gamble has granted Nelson Peltz a seat on its board of directors.
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
Fresh details of Uber Technologies Inc.’s alleged surveillance tactics -- by humans and electronic means -- and in particular its scraping of competitors’ information from the internet were revealed in a court filing. Prosecutors involved in a criminal investigation of Uber learned of the tactics from a former manager of the company’s global intelligence unit who had documented them in a letter to an in-house lawyer at the ride-sharing firm. Among other practices, the letter describes how Uber hired people to spy on executives of overseas rivals, tracking their movements and who they were meeting with.
The final version of the tax bill struck by Congressional negotiators would continue to subsidize municipal bonds that help businesses to finance infrastructure projects such as airports and toll roads, dropping one provision that threatened to cut sales of tax-exempt debt by tens of billions of dollars starting next year. The compromise legislation, hashed out by a committee of lawmakers from the Senate and House, would keep the tax preferred status for private activity bonds "that are used to finance valuable infrastructure projects," according to highlights of the final measure obtained by Bloomberg News. The document doesn’t say if the legislation would stop sales of tax-exempt debt for
At the end of every year, millions of Americans can make strategic moves to shave a few bucks off their April tax bill. Giving to charity, a tax deduction that’s preserved under the tax bill, is an effective way to boost your 2017 deductions on short notice.
Toshiba Corp. and Western Digital Corp. (WDC) have resolved a dispute over the former's ¥2 trillion ($17.7 billion) sale of its memory chip business to a group led by Bain Capital LLC, the companies said Tuesday after the market close. Western Digital has joint ventures with the memory chip business, and had argued that the sale violated its rights. Western Digital Chief Executive Officer Steve Milligan said the settlement "strengthens, extends and enhances" a 17-year partnership that is "one of the most successful JVs in the history of the tech industry" during a Tuesday call. Bain leads a diverse consortium named KK Pangea, in reference to the geological super-continent that existed before
We are in the midst of a bitcoin gold rush: Jobs related to the cryptocurrency have soared in 2017, as its value continues to hit record highs. Job site Freelancer said cryptocurrencies have been one of the fastest growing online jobs this year, with 82% growth in the last three months alone. Cryptography, the practice of code breaking central to bitcoin and other cryptocurrencies, has also seen a 59% increase in interest on the site in the third quarter. Bitcoin and other cryptocurrencies run on the blockchain, a decentralized technology that creates a public ledger using a crowd-sourced system of computers. The value of bitcoin BTCUSD, +9.84% jumped from $969 in early 2016 and has climbed
As investors gear up for the end-of-year Santa rally, political uncertainty lingers in the backdrop, threatening to dampen holiday spirit if politicians fail to reach a deal to avert a government shutdown. And even as pundits play down the possibility of government coming to a screeching halt, the threat may keep some jittery investors sidelined. House Republicans unveiled a short-term spending bill this week to keep the government running through Jan. 19. The proposal includes controversial offsets that Democrats have already rejected. Washington, D.C., strategists expect some sort of a deal to be hammered out. “In the end, both parties figure out that they lose with a shutdown,” said Tom Block,