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Macron says size of EU budget doesn't match its ambition, needs

MUNICH, Feb 15 (Reuters) - French President Emmanuel Macron said on Saturday that the European Union needed to wake up and match its budget with the scale of its ambitions so that it does not fall behind the United States and China, especially in future technologies.

"We are becoming a continent that doesn't believe in its future," Macron told the Munich Security Conference.

"We don't invest in our future sufficiently ... and politically it is the only way to reconcile with (our) middle classes." (Reporting by John Irish Editing by Paul Carrel)

  • Business
    Barrons.com

    If Coronavirus Is Killing Fewer People Than the Flu, Why Has Beijing Quarantined Millions?

    China's Leaders on the Hot Seat Market Intelligence Report by TIS Group Feb. 21: Over the past several days, we have detailed some, though not all, of the actions being taken by China's government to control the coronavirus outbreak. I was told today that roughly 50,000 people die in China each year from the flu. If the coronavirus is just another flu-like virus and the current death toll really is about 2,000, not 50,000, why then has Beijing locked down 750 million people?

  • Morgan Stanley is paying $13B for E-Trade, or $2,500 per customer. You can earn a $3,500 sign-up bonus for signing with a new broker — with one major catch
    Business
    MarketWatch

    Morgan Stanley is paying $13B for E-Trade, or $2,500 per customer. You can earn a $3,500 sign-up bonus for signing with a new broker — with one major catch

    If the latest Wall Street mega-deal doesn't make you want to switch online brokerage accounts for a lucrative sign-up bonus, maybe it should. Wall Street giant Morgan Stanley announced an agreement Thursday to pay $13 billion to acquire the online brokerage E-Trade which has 5.2 million customer accounts. “The combination will significantly increase the scale and breadth of Morgan Stanley's Wealth Management franchise, and positions Morgan Stanley to be an industry leader in Wealth Management across all channels and wealth segments,” Morgan Stanley said in a statement.

  • ‘Overprotected’ investors could get stung in the next recession, warns top Barclays strategist
    Business
    MarketWatch

    ‘Overprotected’ investors could get stung in the next recession, warns top Barclays strategist

    Rattled by rising non-China coronavirus cases — notably in South Korea — investors appear unwilling to load up on stocks heading into the weekend. Welcome to the world of helicopter investing and our call of the day from Barclays Wealth Management's chief investment officer William Hobbs, who finds overly anxious investors living in the “long shadow” caused by the financial crisis. “The most common narrative in markets is what to do when the next recession comes along — own Treasurys, own gold, own quality to such an extent that my concern would almost be that if the next recession is of a more normal variety, such as a stock retracement of 10% to 15% and moderate declines in unemployment, you'll find that you have overprotected yourself and the underperformance could actually be in the areas which you thought were giving you safety,” Hobbs told MarketWatch.

  • Business
    Barrons.com

    Stocks Drop on the Week but Still Look Bubbly. Time to Prepare for a Correction.

    The last time we got to these levels, the bubble burst and a 50%-plus global bear market began,” Consider the trading action in the market's most popular stocks. The FAANGs— (FB) (ticker: FB), (AAPL) (AAPL), (AMZN) (AMZN), (NFLX) (NFLX), and Google parent (GOOGL) (GOOGL)—are up 10% year to date, adding more than $330 billion in market value to the S&P 500. What's more, the average price/earnings ratio for FAANG stocks has jumped to 35 times estimated earnings from 21 times last year.

  • Analysts: 2 Big 8% Dividend Stocks to Buy (And 1 to Sell)
    Business
    TipRanks

    Analysts: 2 Big 8% Dividend Stocks to Buy (And 1 to Sell)

    The company has been making reliable dividend payments since 2014, and has raised the payment modestly in the past two years. At $1.44 annualized, the yield is a generous 8.54%. Barclays analyst Christine Cho sees PAGP growing going forward, resting as it does on a sound foundation.

  • Warren Buffett’s annual letter: Here’s what investors are looking for
    Business
    MarketWatch

    Warren Buffett’s annual letter: Here’s what investors are looking for

    Berkshire Hathaway Inc. (BRK)(BRK) will release Warren Buffett's eagerly awaited annual shareholder letter, the company's annual report and its latest earnings around 8 a.m. Eastern on its website, where investors can also peruse the chairman and chief executive's past missives. Mark Hulbert: Warren Buffett had a tough year—how might he explain it? Investors of all stripes have dived into the lengthy letters over the years to pick up Buffett's insights on a range of topics beyond Berkshire's performance.

  • How Does My Spousal Social Security Benefit Work?
    Politics
    Investopedia

    How Does My Spousal Social Security Benefit Work?

    If you have never worked or paid Social Security taxes (or not paid them for long enough), you will not be eligible to receive Social Security retirement benefits on your own account. You will also be able to apply for Medicare at age 65 as long as your spouse is at least 62. If you apply before you have reached full retirement age and your own benefit is larger, you will automatically be paid that amount.

  • Opinion: Bernie Sanders and the Missing $25 Trillion
    U.S.
    WSJ

    Opinion: Bernie Sanders and the Missing $25 Trillion

    During the Democratic debate on Feb. 19, 2020, Pete Buttigieg skewered Bernie Sanders over the high cost of his plans. Image: Mike Blake/Reuters

  • New Victoria’s Secret Owner, Sycamore Partners, Has a Storied History in Footwear: 4 Things to Know
    Business
    Footwear News

    New Victoria’s Secret Owner, Sycamore Partners, Has a Storied History in Footwear: 4 Things to Know

    It's the end of an era for Victoria's Secret, the lingerie giant that for 28 years has been under the wing of mall retail group L Brands. On Thursday, private equity firm Sycamore Partners announced that it would acquire a 55% stake in the company for $525 million. The deal, which takes Victoria's Secret off the public market at a valuation of $1.1 billion, is notable not only for its relatively modest size (L Brands' market capitalization has fallen from $29 billion at its peak in 2015 to around $6.5 billion today) but also for the brand's new owner.

  • Michael Bloomberg says it’s not so ‘simple’ to produce his tax returns — here’s what most high-income tax returns have in common
    Politics
    MarketWatch

    Michael Bloomberg says it’s not so ‘simple’ to produce his tax returns — here’s what most high-income tax returns have in common

    Michael Bloomberg, the billionaire former New York City mayor running for the Democratic presidential nod, says he will release his tax returns — but that's no easy feat. “I can't go to TurboTax,” Bloomberg, the founder and CEO of the global media and financial data company Bloomberg L.P., told Democratic debate moderators on Wednesday night. Bloomberg, who is worth $65.2 billion according to Forbes, said he makes money from all over the globe, so his tax payments are complex.

  • Business
    Barrons.com

    The Dow Closes Down 228 Points. Don’t Just Blame Coronavirus, Blame the U.S. Service Economy.

    The Dow Jones Industrial Average dropped again on Friday—and yields on long-term Treasury debt fell to record lows—but investors can't simply blame the coronavirus outbreak in China this time. A key U.S. economic indicator registered its weakest reading since 2013. The Markit Services PMI, or purchasing manager index, came in under 50—the level that divides growth from contraction.

  • Bernie Sanders possibly running against President Trump is starting to scare investors: strategist
    Politics
    Yahoo Finance

    Bernie Sanders possibly running against President Trump is starting to scare investors: strategist

    There is a growing undercurrent in markets that say a battle this fall between self-described socialist Senator Bernie Sanders and President Donald Trump could be bad news for stock prices. As evidenced by the market's strong run-up in 2020, investors have yet to exit stocks on fears of a big government Bernie winning the Oval Office. But his continued strong showing in debates and national polls may lead to some profit-taking sooner rather than later.

  • Microsoft Pulling Back; Buy More Or Sell?
    Business
    Investor's Business Daily Video

    Microsoft Pulling Back; Buy More Or Sell?

    As Microsoft stock pulls back, the IBD Live Team discusses whether it's best to take profits here or double down on this IBD Long Term Leader stock.

  • Stock market news live: Stocks fall, Treasury yields slump amid ongoing coronavirus fears
    Business
    Yahoo Finance

    Stock market news live: Stocks fall, Treasury yields slump amid ongoing coronavirus fears

    Existing home sales data, IHS Markit's February purchasing managers' indices for the U.S. and coronavirus developments remained a focus for investors. The three major U.S. indices ended the day and week lower Friday as investors rotated out of risk assets and into safe havens, sending gold prices and Treasuries higher. Declines in the Dow were led by shares of Microsoft and Apple, down 3% and 2%, respectively, during Friday's session.

  • Business
    Barrons.com

    A Rosy Forecast for Microsoft Shares

    We raise our price target to $212 [from $190], based on the shares trading to 30 times enterprise value/calendar-2021 free cash flow. We believe that the investment narrative for the next five years could be defined by 1) Azure's hybrid cloud portfolio and nonconflicted business model, which will allow Microsoft to sustain a competitive advantage, with its commercial cloud business eclipsing $100 billion in revenue by fiscal 2024. The combination of the Teams and Power Platform [software, which] could help Microsoft reshape the business-productivity landscape and enable it to move beyond a tactical information-technology vendor to a key strategic partner in the “middle office.

  • Dow drops over 300 points on Fed comments, coronavirus worries
    Business
    Fox Business

    Dow drops over 300 points on Fed comments, coronavirus worries

    U.S. equity markets turned sharply lower Thursday midmorning as investors digested fresh comments from the Fed and rising fears over the coronavirus. The selling pushed the S&P 500 and the Nasdaq Composite off record highs and clipped over 300 points off the Dow Jones Industrial Average before giving back some of those losses. Fed Vice Chairman Richard Clarida told CNBC the market was too aggressive in pricing in a Fed rate cut later this year which investors including Keith Fitzgerald of Money Map Press cited as the catalyst for the sudden reversal in the equity markets.

  • 3 Marijuana Stocks Poised to Lead a Sector Rebound
    Business
    TipRanks

    3 Marijuana Stocks Poised to Lead a Sector Rebound

    As the Canadian cannabis market continues to fail to meet sales projections, the licensed producers (LPs) with the best balance sheets are poised to lead a market rebound. With both Aurora Cannabis and Tilray implementing restructurings, the industry could see a void in certain markets providing opportunities for companies with the ability to fund growth initiatives. Based on the Aurora restructuring, the company is exiting several international markets along with shifting a focus to a value brand.

  • Mason Hawkins' Southeastern Buys 4 Stocks in 4th Quarter
    Business
    GuruFocus.com

    Mason Hawkins' Southeastern Buys 4 Stocks in 4th Quarter

    Southeastern Asset Management recently disclosed its portfolio updates for the third quarter of 2019. Founded by Mason Hawkins (Trades, Portfolio) in 1975, the Memphis, Tennessee-based firm manages the Longleaf Partners Funds. GuruFocus has detected 4 Warning Sign with WMB.

  • Vanguard vs. Fidelity: Which Brokerage is Best?
    Business
    SmartAsset

    Vanguard vs. Fidelity: Which Brokerage is Best?

    If you're looking for a platform for investing, you may consider two of the largest brokerage firms, Vanguard and Fidelity. Vanguard, which has long stressed the value of low-cost investing, tends to focus on long-term investing, such as opening a retirement savings account or a brokerage account that can help investors build funds for a rainy day. On the other hand, Fidelity pursues a broader focus, one that includes retail investors as well as sophisticated traders.

  • Business
    TheStreet.com

    What Is Capital Gains Tax and When Are You Exempt?

    The subtraction of capital losses from capital gains is known as the net capital gain. That means one can offset the other, whether it's a gain offsetting a loss to make sure you still have a profit or a loss offsetting a gain to help pay less of a capital gains tax that year. To put it into numbers, let's say you have $5,000 of shares in one company and $2,000 of shares in another business.

  • Business
    Barrons.com

    A Contrarian Economist Is Warning of Recession and Deflation. He’s Been Right Before.

    Economist David Rosenberg has been warning for years that the U.S. economy isn't as healthy as it might seem. In 2009, he moved to Toronto-based wealth manager Gluskin Sheff & Associates, serving as chief economist and maintaining his bearish outlook for much of one of the longest bull market in history. Barron's caught up with Rosenberg, who recently set off on his own as chief economist and strategist at Rosenberg Research & Associates.

  • Biotech Stock Crumbles Despite Esperion Nabbing A Key Drug Approval
    Business
    Investor's Business Daily

    Biotech Stock Crumbles Despite Esperion Nabbing A Key Drug Approval

    Shares of Esperion Therapeutics crumbled Friday after the biotech company's cholesterol medicine gained Food and Drug Administration approval — with some caveats. The cholesterol medicine formerly known as bempedoic acid will sell as Nexletol, a once-daily oral treatment for high LDL cholesterol. The drug is specifically approved for patients with a genetic form of high cholesterol or a type of cardiovascular disease.

  • Avoid the Social Security Tax Trap
    Politics
    Investopedia

    Avoid the Social Security Tax Trap

    In the good old days, Social Security was tax-free. Below, we'll explore why and how Social Security benefits become taxable and provide some tips to help you dig your way out of the trap. There are two separate income thresholds for filers that will determine whether they have to pay tax on their Social Security benefits.

  • In next downturn, Fed may opt for quick, strong action
    Business
    Reuters

    In next downturn, Fed may opt for quick, strong action

    In the next economic downturn, the Federal Reserve and other central banks may need to roll out their big guns sooner and use them more aggressively, or risk getting mired in growth-sapping deflation or worse. That was the argument laid out Friday by a group of veteran monetary policy analysts and Federal Reserve Governor Lael Brainard, who called for using now-familiar policy tools like forward guidance more forcefully, and adopt new ones like capping interest rates to bolster the Fed's clout. The broad approach appeared to have some support among other policymakers grappling with the how the Fed and other central banks should prepare to fight a future recession.

  • Kraft Heinz Stock Is Not Worth Chasing
    Business
    InvestorPlace

    Kraft Heinz Stock Is Not Worth Chasing

    Berkshire Hathaway (NYSE:BRK.A,NYSE:BRK.B), led by famed investor Warren Buffett, remains a major shareholder, and in fact helped lead the merger between Kraft and Heinz. It doesn't take that much of a close look to see what's wrong with Kraft Heinz and with Kraft Heinz stock.