at Neil Woodford's flagship equity fund, which froze £3.7bn of investor money this month, was fuelled by “flawed” EU rules that may need to be jettisoned after Brexit, the head of the main UK financial regulator said on Tuesday. Andrew Bailey, chief executive of the Financial Conduct Authority, denied the episode stemmed from supervisory failures and instead said Mr Woodford's Equity Income Fund was using “to the full” an “excessively rules-based” EU regime that caps at 10 per cent the proportion of unlisted assets a fund can hold. Mr Bailey told the Commons Treasury select committee that this manoeuvre — which the FCA was not alerted to in advance — was “regulatory arbitrage” and “sailing close to the wind”.
Stocks fell back in afternoon trading Tuesday as traders digested remarks by Fed chief Jerome Powell to the Council on Foreign Relations. Drug stocks Allergan and Incyte were among the few bright spots. Markets began weakening following remarks from St. Louis Federal Reserve Bank President James Bullard that a quarter-point interest rate cut would be appropriate.
The majority of U.S. customers are eager to purchase an “American made” vehicle, but the bulk of the top 15 cars that contribute the most to the economy are actually produced by foreign automakers, according to a new ranking released on Tuesday. The most American-made vehicle in 2019, which includes criteria such as the number of factory jobs and where parts are sourced, was the Jeep Cherokee, according to Cars.com annual ranking. While it is built in Belvidere, Illinois, Jeep is owned by Italian-American carmaker Fiat Chrysler.
Adobe fell hard, dropping back below its buy point after breaking out on earnings last week. Recent breakouts are failing.
California Gov. Gavin Newsom took direct aim at Tennessee in a speech to the Bay Area business community last week — and for good reason. Tennessee is often lauded — and more importantly, increasingly selected — by California companies looking to expand operations or relocate their corporate headquarters altogether. The Volunteer State was selected today by San Francisco bookkeeping tech startup Pilot.com for a new division headquarters, which will create 450 jobs in Nashville.
Gold Monthly Price Chart Overview (2000 – 2019) Gold has demonstrated a batch of resistance through low periods previously on the chart. Therefore, despite the precarious top line demonstrated recently and some traders doubting the stability of Gold's future value, the yellow metal has established it has been able to hold highs through previous similar themes. However, this week bullish efforts have been able to bulldoze through Gold's resistance and for the first time since 2013 Gold was trading at huge highs of above 1400.
Google is warning employees not to show up at the San Francisco Pride parade this weekend expecting to protest their employer while riding the official company float, saying that would violate the company's code of conduct, The Verge reports. For nearly a month, Google employees have internally protested YouTube's decision to continue hosting videos from conservative comedian Steven Crowder, who has repeatedly targeted a gay journalist from Vox, using racist and homophobic language. A group of Google employees this week reached out to the team organizing the Mountain View search giant's participation in Pride, asking if they'd be allowed to protest YouTube's decision while marching with their employer.
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.
After many Americans in high-tax states saw the impact of the $10,000 cap on state and local tax (SALT) deductions on their returns this filing season, experts have told FOX Business that more and more individuals are looking for ways to mitigate the increased financial burden – which can mean moving to lower-tax states. While states with no income tax have gotten most of the attention, including Florida, Texas and Nevada, there may be a closer option for residents in the Northeast – Pennsylvania. The Keystone State could attract disgruntled residents from nearby high-tax states like New York, New Jersey and Connecticut.
In the last few weeks, two companies have exported two small cargoes from the formation, one of light oil, the other of liquefied natural gas, foreshadowing what industry officials say will be a steady flow of shipments by the end of the year. It's way too early to declare victory -- any number of logistical and economic hurdles remain. But it's the first sign that all the money and time invested might actually pay off, and turn Argentina back into the global energy provider it used to be well over a decade ago.
AbbVie Inc. agreed to pay $63 billion for rival drugmaker Allergan Plc, the latest merger in an industry where some of the biggest companies have been willing to pay a big premium to resolve questions about their growth prospects. The price tag caused heartburn on Wall Street, and AbbVie had its worst day of trading since it was spun off from former parent Abbott Laboratories.
Tesla Inc. could be on the verge of a quarterly record for vehicle deliveries, though the electric-car maker will need to go “all out” in the last few days of the month, Chief Executive Officer Elon Musk wrote in an internal memo. There is a lot of speculation regarding our vehicle deliveries this quarter,” Musk told employees in an email Tuesday.
Dow Jones futures rose slightly Tuesday, along with S&P 500 futures and Nasdaq futures. The stock market rally suffered significant losses after policymakers signaled they would make big Fed rate cuts. Leading stocks were roughed up again.
Micron Slightly Improved its DRAM Demand Outlook In March, Micron forecast DRAM industry bit supply would grow by a mid-to-high teens percentage in 2019, and that industry bit demand would grow by a low-to-mid teens percentage. Now, although Micron admits the DRAM market is still oversupplied for the time being, the company is guiding for mid-teens 2019 bit demand growth, while maintaining its prior bit supply outlook. Though the Huawei parts ban is a headwind (more on that shortly) and Micron indicated DRAM inventories among enterprise server customers are "taking somewhat longer to normalize than [it] had previously expected," the company sees normalizing customer inventories among cloud a...
As such, high-growth stocks are ideal for the young-adult, millennial demographic. Colloquially known as the 80-20 rule, advisors recommend that young investors have 80% of their portfolio in stocks, and the remainder in safer, interest-yielding assets. When it comes to millennial stock allocation, spring chickens should really consider high-growth stocks.
Shares of Tesla Inc fell 1.7% on Tuesday after news website Electrek reported that the electric-car maker has so far delivered 49,000 vehicles in North America during the second quarter, threatening its goal of a new record. Chief Executive Officer Elon Musk had said last month that the company was on course to deliver a record number of cars in the quarter, beating the 90,700 it sent to customers in the final quarter of last year. Musk reiterated on Tuesday that the company has enough orders to set a quarterly record for vehicle deliveries, according to a leaked email cited by Bloomberg.
The Boise, Idaho-based company's stock had been among the most hardest hit this year by concern that a trade war between would cut U.S. companies off from their largest market, China. Mehrotra also said there are signs that demand is increasing as his customers work through their stockpiles of unused parts. Micron may be the first company to go public about continuing some level of business with Huawei after looking closely at the rules, according to Cross Research analyst Steven Fox.
The U.S. blacklisting of Huawei Technologies Co. and other top Chinese tech companies is making it trickier for some mobile industry professionals to get down to business. The June 26-28 Mobile World Congress Shanghai, China's largest forum for the mobile industry, is scheduled to start amid almost daily salvos from the Trump administration aimed at Huawei and other technology companies in the world's largest mobile phone market. The Trump administration's blacklisting of Huawei has dominated global industry discussions in past months, as it threatens to upend supply chains and disrupt the global roll out of fifth-generation technology -- an infrastructure spending spree worth hundreds of billions of dollars.
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.
General Electric, one of the most widely held and actively traded stocks, continues to look for a turnaround as investors wonder whether GE stock is a buy or sell right now. Shares of the American manufacturing icon are up sharply in 2019 after a brutal couple of years for GE earnings. Should investors consider GE stock?
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.
Botox can fill even the most obstinate wrinkles but the botulinum toxin contained in injections can cause unexpected sagging too. AbbVie has been desperate to fill in the gap for its blockbuster arthritis drug Humira, which loses patent protection in 2023. Allergan fits the bill.
Analysts expected Micron earnings of 78 cents a share on sales of $4.66 billion, according to Zacks Investment Research. In the year-earlier period, Micron earned $3.15 a share on sales of $7.80 billion. Micron stock jumped 10% in after-hours trading on the stock market today.
Shares of Micron Technology were up almost 8% Tuesday after-hours after the chipmaker reported quarterly results that topped analyst expectations Micron reported fiscal third quarter revenue of $4.79 billion, down from the $7.8 billion it reported a year ago, yielding earnings of $1.2 billion, or $1.05 per share. Analysts were expecting the company to report revenue of $4.71 billion on earnings of 76 cents per share. "Micron's improved competitive position and strong execution helped us deliver solid results despite a challenging environment," said Micron Technology President and CEO Sanjay Mehrotra.