• The US oil phenomenon that could help spark the 'tale of two markets'
    CNBC.com15 hours ago

    The US oil phenomenon that could help spark the 'tale of two markets'

    Get ready for a 'tale of two markets,' says oil expect Tom Kloza    5:57 PM ET Thu, 19 Oct 2017 | 01:31 The United States has started doing something unprecedented when it comes to oil, and the impact is expected to grow into next year. Tom Kloza of the Oil Price Information Service is alluding to the U.S. ramping up exports. It follows the 40-year ban that was lifted two years ago. "The highlight you need to watch for the next few months is going to be more record breaking exports of crude oil. Our view is that it's going to soften the price for Brent," the firm's global head of energy analysis said recently on CNBC's "Futures Now." According to Kloza, it's possible the U.S. will export 15 million

  • Cisco nears deal to acquire BroadSoft: source
    Reuters7 hours ago

    Cisco nears deal to acquire BroadSoft: source

    By Liana B. Baker SAN FRANCISCO (Reuters) - Cisco Systems Inc , the world’s largest networking gear manufacturer, is nearing a deal to buy U.S. telecommunications software firm BroadSoft Inc for close to $2 billion, a person familiar with the matter said on Sunday. The deal, which comes after Reuters first reported in August that BroadSoft was exploring a sale, would allow Cisco to further diversify away from its stagnating switches and routers business by giving it a stronger foothold in selling unified communications software to big telecommunications firms. If deal negotiations are completed successfully, Cisco's agreement to buy BroadSoft could be announced as early as Monday, the source said, asking not to be identified because the deal discussions are confidential.

  • Here's How Money Managers Plan to Battle 401(k) Cuts in Trump's Tax Plan
    Bloombergyesterday

    Here's How Money Managers Plan to Battle 401(k) Cuts in Trump's Tax Plan

    Big money managers, already on guard to protect one of their richest sources of assets, are on alert as more details emerge on how prized 401(k) contributions could fall victim to President Donald Trump’s tax overhaul plan. The New York Times reported Friday that the administration may seek to limit pretax contributions to 401(k) plans to as little as $2,400 annually, down from the current maximum of $18,000 for most workers and $24,000 for those 50 years or older. The measure, rumored for months as a way to help offset the individual and corporate tax cuts that the Trump administration hopes to enact by year end, would essentially pull future tax revenues forward by requiring Americans to pay taxes on retirement savings now instead of when they tap their nest eggs.

  • Warren Buffett's advice for CEOs touches on a key issue plaguing the US economy
    Business Insider2 days ago

    Warren Buffett's advice for CEOs touches on a key issue plaguing the US economy

    Warren Buffett generally likes to take a hands-off approach when it come to investing in companies, but he has some advice for CEOs on how to run a business better. Warren Buffett, generally speaking, likes to take the hands-off approach with companies he and Berkshire Hathaway invest in.

  • Bogle: ETF Flows Muddle Valuation, Risk Picture
    Morningstar1 hour ago

    Bogle: ETF Flows Muddle Valuation, Risk Picture

    Large swings in ETF flows make it hard to forecast valuations and are likely introducing new risks into the market, says Vanguard founder Jack Bogle.

  • The new titans of Wall Street have their eyes on your savings (BX)
    Business Insider23 hours ago

    The new titans of Wall Street have their eyes on your savings (BX)

    Private equity firms are killing it. Money typically follows performance, and so investors have been pouring funds into the private equity asset class in recent years. Nowhere is this more clear than at Blackstone, the largest publicly-traded private equity firm, which said Thursday that assets under management had hit a record high of $387 billion.

  • Associated Press14 hours ago

    Trial to begin against Philip Morris in smoker's death

    A trial is set to begin in a lawsuit against Philip Morris in connection with the lung cancer death of a Connecticut woman who smoked the company's Marlboro cigarettes. The trial over Vernon resident Jeanette Bifolck's death in 2000 is scheduled to begin Monday in federal court in Bridgeport. Bifolck's husband, Vincent Bifolck, filed a wrongful death lawsuit in 2006 against Philip Morris, a subsidiary of Richmond, Virginia-based Altria Group Inc.

  • 3 reasons Express Scripts could be headed for trouble
    MarketWatch18 minutes ago

    3 reasons Express Scripts could be headed for trouble

    Pharmacy-benefit managers, the secretive, opaque middleman in the pharmaceutical supply chain, have never been more powerful. They’ve also never been more threatened. A wave of consolidation in the last decade has lent the few PBMs that remain market dominance and muscle to leverage in drug price negotiations. Express Scripts Holding Co. ESRX, +1.29%  , the largest stand-alone PBM, is chief among those players. But PBMs also aren’t flying under the radar anymore. Scrutiny of high drug prices has left critics pointing fingers at them, arguing they add complexity and cost to the U.S. drug price system. Express Scripts looks particularly vulnerable, with a stock slide of 17.5% in the past year,

  • Brazil Sees Oil Exports Soar
    Oilprice.com21 hours ago

    Brazil Sees Oil Exports Soar

    Colombia oil reserves at the end of 2016 were 1.66 Gb (down 16.8 percent from 2 Gb in 2015 which followed a drop from 2.31 Gb in 2014). Ecoptrol, which accounts for more than three quarters of Colombia’s crude and natural gas reserves and output, estimated about 45 percent of their decline was due to the “pronounced fall in oil prices”.

  • Sorry Thomas Edison, It Could Be Lights Out for GE's Consumer Lighting Division
    The Street21 hours ago

    Sorry Thomas Edison, It Could Be Lights Out for GE's Consumer Lighting Division

    After reporting lower than expected quarterly profits and slashing its earnings outlook for 2017, General Electric's (GE) light bulb might be starting to burn out. After over 100 years of lighting darkened doorsteps, GE's consumer lighting division will likely be among the first of the $20 billion in assets that are sold or spun off as CEO John Flannery works to consolidate the aging company. GE formally put its consumer lighting division up for sale in June.  In a recent earnings call with investors, Flannery said "everything is on the table, and there have been no sacred cows." "Each GE business is being measured against a set of rigorous strategic and financial objectives," Flannery said.

  • Why Retirees Should at Least Consider a Financial Adviser
    WSJ8 hours ago

    Why Retirees Should at Least Consider a Financial Adviser

    Even those who think they have their retirement planning in hand can use someone to keep them from making a costly mistake.

  • Tesla Strikes Deal With Shanghai to Build Factory in China
    WSJ8 hours ago

    Tesla Strikes Deal With Shanghai to Build Factory in China

    Electric-car maker Tesla Inc. has reached an agreement to set up its own manufacturing facility in Shanghai, according to people briefed on the plan, a move that could help the company gain traction in China’s fast-growing EV market. The deal with Shanghai’s government will allow the Silicon Valley auto maker to build a wholly owned factory in the city’s free-trade zone, these people said.

  • 'Nobody really knows' state of play for proposed Aramco I...
    CNBC Videos13 hours ago

    'Nobody really knows' state of play for proposed Aramco I...

    Omar Al-Ubaydli, senior scholar, Mercatus Center says Saudi budget plans mean there is a need to raise funds from a stake sale in Aramco, whether via an IPO or private placement.

  • ADP CEO on proxy battle: 'It's really about growing the top line'
    Yahoo Finance2 days ago

    ADP CEO on proxy battle: 'It's really about growing the top line'

    Hedge fund manager Bill Ackman’s proxy fight against the largest payroll processor in the world, Automatic Data Processing (ADP), has challenged the company to answer criticisms about its operational performance and particularly inflated costs. ADP CEO Carlos Rodriguez told Yahoo Finance that the battle has focused a lot of talk on cost cutting when it should be about growing the top line. ADP’s margins stand significantly below its closest peer, Paychex (PAYX), but Rodriguez emphasized it’s not an apples-to-apples comparison.

  • Oil Near $52 as OPEC Touts Record Compliance, Rig Count Drops
    Bloomberg12 hours ago

    Oil Near $52 as OPEC Touts Record Compliance, Rig Count Drops

    Oil traded near $52 a barrel as OPEC reported record compliance with pledged production cuts and U.S. drilling slowed again. December futures were little-changed in New York. OPEC and its partners including Russia achieved a record-high level of compliance to output cuts during September, according to a statement on Saturday. In the U.S., drillers reduced the rig count for a third week to the lowest since June, according to Baker Hughes. Oil is holding a second week of gains after the strongest signal yet that the Organization of Petroleum Exporting Countries will extend supply curbs until the end of 2018. Tensions in Iraq, where the army has been retaking areas around Kirkuk from Kurdish forces,

  • Real Money21 hours ago

    GE's Dividend Saga Is Far From Over

    "Unacceptable" is how John Flannery, the chief executive officer of General Electric Co. (GE) , described the company's most recent quarterly results. "Things will not stay the same," he said on a conference call Friday in which he also slashed GE's 2017 projections and outlined restructuring plans. One other thing that may not the stay the same is the company's $0.96 cents per share dividend, which translates into a 4.04% current yield. Flannery had previously pledged to maintain the struggling conglomerate's dividend, but even that is now on the chopping block for 2018. It's a "reset year," he said. So what say analysts about the news that GE isn't committed to maintaining its dividend? "The

  • Why HR isn’t necessarily your friend if your boss has sexually harassed or bullied you
    MarketWatch14 hours ago

    Why HR isn’t necessarily your friend if your boss has sexually harassed or bullied you

    Experts say that workplace bullying is disturbingly common. A big part of the problem is that there are very few places bullied and harassed employees can turn to for help. Bullying bosses and toxic workplaces have dominated the headlines recently. Along with allegations of sexual assault and harassment perpetrated by movie mogul Harvey Weinstein, members of the entertainment industry have described how his brother Bob Weinstein would bully and verbally abuse staff. In a written statement to The Wall Street Journal, Weinstein said: “At times I have a temper, but I would not describe it as volatile, and I’m definitely not a bully.” The Weinstein company did not immediately return a request for

  • THE INSURTECH REPORT: How financial technology firms are helping — and disrupting — the nearly $5 trillion insurance industry
    Business Insider7 hours ago

    THE INSURTECH REPORT: How financial technology firms are helping — and disrupting — the nearly $5 trillion insurance industry

    The global insurance industry is worth nearly $5 trillion, and insurance companies are at risk of losing a share of this valuable market to new entrants. Some are helping incumbents deliver better end products, while others are directly competing with legacy players.

  • Merck to Lay Off About 1,800 U.S. Sales Reps in Cost-Cutting Move
    WSJ8 hours ago

    Merck to Lay Off About 1,800 U.S. Sales Reps in Cost-Cutting Move

    Merck & Co. said it is laying off nearly 7% of its U.S. workforce in a reorganization the company says will cut costs and shift focus to products with growth potential.

  • TheStreet.com2 days ago

    Facts of Black Monday 1987, the Worst Single Day In Stock Market History

    The financial markets have changed a lot since Oct. 19, 1987, or Black Monday when the Dow crashed more than 500 points and for a brief period the world geared up for the next Great Depression. The assets traded, the technology and speed at which they

  • Oil stable on slightly tighter market, strong demand
    Reuters5 hours ago

    Oil stable on slightly tighter market, strong demand

    Oil prices were stable on Monday, supported by supply concerns in the Middle East and declining U.S. drilling activity, although analysts warned that the United States market may not be tightening by as much as expected. U.S. West Texas Intermediate (WTI) crude was at $51.92 per barrel, up 8 cents, or 0.14 percent. "Oil prices are holding comfortably above $50 as possible supply disruptions in the Kurdish region of Iraq support prices," said William O'Loughlin, analyst at Rivkin Securities.

  • Walmart Is Running Itself Like a Startup
    The Street18 hours ago

    Walmart Is Running Itself Like a Startup

    Walmart Stores, Inc.'s  ( WMT) stock has gone up nearly 25% this year.  Even with such a grand surge, the 55-year-old retailer, of which grocery is a big factor, appears poised for further growth because it is remaking itself into, for all intents and purposes, a startup.  Between its billion-dollar acquisitions of millennial-oriented brands like Bonobos and the hiring of a bona fide startup veteran to run its e-commerce platform, the supermarket's tech act is working out. Stocks grew from $66 in January to nearly $86.16 as of Wednesday, Oct. 18. That's compared to a 13% growth rate for the S&P 500 and about 34% for Amazon.com, Inc. ( AMZN)  in the same period. But unlike Amazon, Walmart's growth

  • Amazon, Alphabet, and GDP — What you need to know for the week ahead
    Yahoo Finance19 hours ago

    Amazon, Alphabet, and GDP — What you need to know for the week ahead

    The benchmark S&P 500 and tech-heavy Nasdaq also joined the blue chip index at fresh records in a week that was heavy on earnings, news on tax reform, and reports about who will be the next leader at the Federal Reserve. Notable earnings due out this week include Hasbro (HAS), General Motors (GM), Lockheed Martin (LMT), Caterpillar (CAT), McDonald’s (MCD), AT&T (T), Chipotle (CMG), AMD (AMD), Visa (V), Coca Cola (KO), Boeing (BA), Comcast (CMCSA), Ford (F), Celgene (CELG), UPS (UPS), Alphabet (GOOGL), Amazon (AMZN), Microsoft (MSFT), Expedia (EXPE), ExxonMobil (XOM), and Chevron (CVX) among others.

  • Video: Jim Cramer Reacts to Chris Long's Salary Donations
    The Street21 hours ago

    Video: Jim Cramer Reacts to Chris Long's Salary Donations

    Philadelphia Eagles fan Jim Cramer said Chris Long is a remarkable guy. Long, who plays for the Eagles, announced plans to donate his salary for the season to a host of different charities. Cramer also shares a few insights on his fantasy football strategy. Editors' pick: Originally published Oct. 20.

  • Jack Bogle, Peter Schiff, Jim Cramer & Dave Callaway Share Black Monday Memories
    The Street2 days ago

    Jack Bogle, Peter Schiff, Jim Cramer & Dave Callaway Share Black Monday Memories

    We asked folks what it was like to live through the Black Monday Crash. 30 years later their stories shed light on a frightening moment for the markets and investors around the world. Jim Cramer spoke about hearing about warning signs and moving his clients into cash. While they were largely unscathed, Cramer recalled the what is now known as Terrible Tuesday and no one knew the value of their portfolios. Peter Schiff spoke about writing a letter to then Fed Chairman Allen Greenspan, who wrote back.  TheStreet Inc.'s (TST) CEO Dave Callaway recalled being a cub reporter in Boston and understanding the enormity of the day. Jack Bogle, founder of The Vanguard Group, told TheStreet's Anders Keitz