Ivanka Trump must testify in a dispute with an Italian shoemaker over one of her company's shoe designs, a judge said Friday. U.S. District Judge Katherine Forrest rejected a request by the senior White House aide's lawyers that she be blocked from submitting to a deposition in the trademark infringement lawsuit brought by Aquazzura Italia SRL against her and her company IT Collection LLC. The Florence, Italy-based company sued President Donald Trump's daughter last year, saying her Hettie shoe was a "virtually identical" knockoff of its popular Wild Thing Shoe, including nearly the same color, shape and tassel on the heel.
It has been a rough stretch for Wall Street honcho Bill Ackman. The hedge-fund manager, who runs Pershing Square and boasts a net worth of $1.4 billion, reportedly locked horns with former Vice President Joe Biden at a dinner in Las Vegas last month, according to Fox Business. and the New York Post. Biden—still reeling from the death of his 46-year-old son, Beau Biden, who lost a battle with brain cancer two years ago—cited his son’s death as the central reason that he didn’t make a run for the White House in 2016. According to the reports, Biden grew emotional as he explained his decision to a room of high-profile attendees, concluding with, “I’m sorry. I’ve said enough.” At that moment, Ackman
Warren Buffett's top lieutenant, Charlie Munger, told a small group of investors that the simple strategy of buying only service company stocks made former Vice President Al Gore very wealthy. "Al Gore has come into you fellas business. Hedge fund manager Whitney Tilson in one of his email newsletters pointed to the YouTube videos of Munger's informal question-and-answer session held after the Journal meeting, and other investors have confirmed the subject matter of the talk.
At just 27 years old, the blogger behind the Money Wizard — who goes by the pen name Sean online — has banked more than $181,000. "Probably what's most driving me [to retire early] — I just want freedom," he told Business Insider. Ultimately, Sean's philosophy for building wealth is based on calculating the value of his time, in dollars.
The most important air show of the year is always held in Europe. Airbus (NASDAQOTH:EADSY) -- operating on its home turf -- usually makes a point of outpacing its American rival Boeing (NYSE:BA) in the order race. Last year, Boeing's order haul at the Farnborough Airshow was so dismal that the company felt the need to fudge the numbers in its end-of-show press release to save face. However, Boeing didn't have any trouble selling airplanes at this week's 2017 Paris Air Show. The launch of the new 737 MAX 10 and solid demand for the Dreamliner widebody allowed Boeing to score a clear victory over Airbus in terms of deal activity. Firm order totals were relatively similar Looking just at new firm
I heard a rumor out there that Walmart (WMT) might consider acquiring Costco (COST) to offset the Amazon (AMZN) buyout of Whole Foods (WFM) . Just a rumor. However, even if this turned out to be true, these would not be the same type of deals. First, Costco is near all-time highs, where savvy buyers, of which Walmart is among the savviest, don't buy. Savvy buyers like to buy assets, and everything else, near lows, and sell them near highs. Amazon didn't agree to buy Whole Foods at its all-time high, near $60, in 2013. They waited until no one appreciated the asset, and after a 50% crash, they made their offer. No, Amazon isn't getting Whole Foods at that extreme discount, but they will get it
Biotech stocks have been soaring over the last few years due to an uptick in innovation and a growing demand for healthcare services across the board. As a result, valuations across this high-flying space have ballooned -- making it increasingly difficult to suss out attractive bargains. Having said that, the top biotechs Celgene Corp. (NASDAQ:CELG) and Gilead Sciences (NASDAQ:GILD) are the rare exceptions to this general trend. Read on to find out why these two biotech titans might be compelling buys right now. Celgene's cellar-dwelling valuation might be a once-in a lifetime buying opportunity Celgene's industry-leading sales growth has apparently fallen on deaf ears of late. The company's
The price of OPEC’s oil basket, which is made out of 14 different blends, fell to US$42.58 a barrel yesterday, below the closing price of West Texas Intermediate for the same day, which was US$42.78 a barrel. The Thursday closing price for the OPEC basket
A "high-level view is in order" of chipmaker Advanced Micro Device's (AMD) fight against Intel (INTC) for server chips, Rosenblatt Securities Hans Mosesmann wrote on Friday. He reiterated his "Buy" rating on AMD's stock with a price target of $20 per share. Mosesmann called out his colleagues on the street for failing to give AMD credit for what it had accomplished when it unveiled its "Epyc" server microchip. "Firstly, the amusing consensus view the day after the EPYC launch on the 20th is that it is a solid product (enough to gain some incremental share), and that only time can tell how it all plays out as Intel (INTC: Sell) responds," he noted. The chip will be very additive to value, Mosesmann
The Great Restructuring in retail continues. In the wake of a disappointing holiday season, J.C. Penney (JCP) said recently that it will close 138 stores stores by the end of the summer. The store closures represent 13% to 14% of the company's current store base and less than 5% of annual sales. They have a negligible impact on net income. J.C. Penney said same-store sales at the locations were "significantly below" the remaining store base and operate at a much higher expense rate due to poor productivity. The company expects $200 million in annual costs savings from the efforts. "We believe closing stores will also allow us to adjust our business to effectively compete against the growing
You can add another 20 Sears and Kmart stores to retail’s graveyard. Sears Holdings shld is closing another 20 locations on top of recently announced shutterings, bringing to total store closures to 260 this year for the struggling retailer which is trying unsuccessfully to stanch years of sales declines. The latest closures include 18 Sears stores and two Kmart locations, according to a regulatory filing on Friday by real estate investment trust Seritage Growth Properties, which was spun off by Sears in 2015.
John Oliver is being sued by Bob Murray, a coal CEO and the target of Oliver's latest story about issues in the coal industry.
In response to some growing concerns about the strength of General Electric's (GE) dividend, Morningstar analyst Barbara Novorini took a look and happily reports this week that it looks secure. First, she dispenses with concerns that GE's industrial business is eating up a lot of cash. Quarter-to-quarter cash flows in GE’s industrial businesses can be very lumpy, and industrial free cash flow is often back-half loaded. This, combined with an additional $1 billion of structural cost outs and better working capital management gives us line of sight to industrial free cash flow in 2017 just over $9 billion, enough to cover approximately $8 billion of common stock dividends without help from GE Capital.
The proposed merger between Rite Aid (NYSE:RAD) and Walgreens Boots Alliance (NYSE:WBA) will come to a vote at the Federal Trade Commission next week and likely faces a lawsuit seeking to block the deal, according to a report. The Capitol Forum, a D.C.-based firm, reported on Thursday that the acting director of the FTC’s Bureau of Competition has recommended a lawsuit, backing staff recommendations. Walgreens and Rite Aid declined to comment.
Bitcoin burst into our financial consciousness like a fiery comet, setting the internet ablaze with visions of upending the existing global money system. Yet, by its nature as a cybercurrency, whose legitimacy only exists in the ether, its credibility leaves much room for debate. HowMuch.net on Wednesday put things into perspective and demonstrated that for all the buzz and excitement bitcoin has generated, it still has a long way to go to be even remotely relevant. The current value of all the bitcoin BTCUSD, -3.07% in the world is worth about $41 billion, according to the cost-estimating website. That is undoubtedly more money than most Americans will ever see in their lifetime. But when
You'd think that investors would have trading on corporate earnings down to a science by now. Think again, says Goldman Sachs. Investors are frequently ill-positioned for the preannouncements companies often make leading up to their scheduled earnings releases, Katherine Fogertey and the Goldman derivatives team wrote in a client note on Thursday.
Strategists at Bank of America Merrill Lynch are skeptical that higher demand would be the solution. "While most investors blame supply for today's low oil prices, demand has also failed to improve at the speed required to rebalance the global oil market. Looking into 2H17, we now doubt that demand growth will accelerate sufficiently and see downside risks to our forecasts of 1.3 million b/d in both 2H17 and 2018.
According to Bank of America Merrill Lynch strategists, a rise in millennial participation in the market could be a sign of the top. The chart shows that among various asset classes, the widest allocation gaps between millennials and older investors are in alternative investments, which the 18-34 demographic prefers, and in stocks, where millennials could play catch up.
Americans will have a hard time finding a bank that pays a higher savings account interest rate than Wall Street giant Goldman Sachs (GS). GS Bank, the firm’s online bank, recently made headlines when it raised its savings rate to 1.2% from 1.05% earlier this month. At 1.2%, GS Bank surpasses the large consumer banks, where most households keep their money.
Faced with a sweeping set of demands, Qatar insisted Friday it can indefinitely survive the economic and diplomatic steps its neighbors have taken to try to pressure it into compliance, even as a top Emirati official warned the tiny country to brace for a long-term economic squeeze. Given 10 days to make a decision, Qatar said it was reviewing the specific concessions demanded of the tiny Persian Gulf nation, which include shuttering Al-Jazeera and cutting ties to the Muslim Brotherhood. "I can assure you that our situation today is very comfortable," Qatari Ambassador to the U.S. Meshal bin Hamad Al Thani told The Associated Press.
For most of this year, Apple Inc. (NASDAQ:AAPL) stock has been a Wall Street darling. A note from Goldman Sachs back on June 9 that said the newly dubbed FAAMG stocks — Facebook Inc (NASDAQ:FB), Apple, Amazon.com, Inc. (NASDAQ:AMZN), Microsoft Corporation (NASDAQ:MSFT) and Google parent Alphabet Inc (NASDAQ:GOOGL) overvalued and trading too much like safe-haven stocks. All of them turned tail in response, including AAPL stock.
Hitting your sixth decade of life is pretty exciting. The 60s tend to be when people transition from their working lives to their retirement lives. That's a pretty huge change, and if you lay the groundwork for your retirement a few years in advance, you can minimize the shock of the transition and maximize the joy of your first few years of retirement. Create a retirement budget Your early 60s is a great time to start crunching some hard numbers on your retirement budget. You're probably just a few years from your actual retirement date at that point, which means you're close enough to be able to accurately estimate your income and expenses, but far enough away to manage a last-second course
More than 600 employees at a Carrier plant in Indianapolis are bracing for layoffs beginning next month, despite being told by President Trump that nearly all the jobs at the plant had been saved. The deal , announced with great fanfare before Trump took office, was billed not only as a heroic move to keep jobs from going to Mexico but also as a seismic shift in the economic development landscape. "The jobs are still leaving," said Robert James, president of United Steelworkers Local 1999.