As the race heats up and cities state their cases to house Amazon.com's (AMZN) second headquarters, Moody's Analytics has some suggestions for the e-commerce giant. The firm presented Amazon with 10 cities where the new headquarters, which has the potential for 50,000 well-paying jobs and a $5 billion investment, should be located. The results were based on five "broad" categories; business environment, human capital, cost, quality of life, and transportation. A sixth criterion, geography, was also considered to "rank cities based on regional and geographic factors that Amazon might be taking into account," Moody's Analytics noted. The bidding for Amazon's second headquarters closed on Thursday,
Industrial goods manufacturer General Electric Company GE is aiming to focus on its core industrial operations after completing the GE Capital exit plan. John Flannery took the helm as the Chairman and CEO of the company, replacing Jeff Immelt, who led the company since 2001.
If President Donald Trump prevails in shutting down a major "Obamacare" health insurance subsidy, it would have the unintended consequence of making free basic coverage available to more people, and making upper-tier plans more affordable. The unexpected assessment comes from consultants, policy experts, and state officials, who are trying to discern the potential fallout from a Washington health care debate that's becoming even more complicated and volatile. It's because another subsidy that's part of the health law would go up for people with low-to-moderate incomes, offsetting Trump's move.
Bank of America Merrill Lynch is the latest Wall Street firm to issue a warning about a stock-market correction. BAML joins Morgan Stanley in the ranks of big firms that have sounded the alarm this week. The most recent firm to sound the alarm is Bank of America Merrill Lynch, which forecasts a pullback of at least 10% — the historical definition of a correction — by Valentine's Day.
There is no better time than National Save for Retirement Week (October 16 - 21) to start saving in earnest, to keep on growing your nest egg or to make some positive adjustments to your existing retirement savings game plan. Here are 5 solid tips to make retirement saving work out for you. A 22-year-old who saves $200 a month—just about $50 a week—at a 6 percent annual rate of return will have more than $76,000 saved towards retirement at age 40.
China's central bank has said it should prevent accumulation of risk from excessive optimism.
It's time for change at General Electric (GE) , according to TheStreet's founder and Action Alerts PLUS Portfolio Manager Jim Cramer. "GE, right now, reflects a 15 cent cut in the quarterly dividend," Cramer said, referring to investors' fears that GE may reduce its dividend in an effort to turnaround the company. Earlier this month, GE announced the departures of a host of executives, including its chief financial officer and vice chairman. Activist investor Ed Garden of Trian Partners was added to the company's board this month. The company reports quarterly earnings on Friday. GE is the worst performing Dow stock so far this year, with shares down 26.6%, compared to the S&P 500's 14.2% gain.
Stocks dropped on Thursday, with both the S&P 500 and Nasdaq 100 on pace for their biggest losses since late September. At the root of the selling was weakness in Apple, which dropped as much as 2.8% on a report that orders for the recently-launched iPhone 8 have been cut for the rest of the year amid lukewarm interest. Since Apple is the most heavily weighted component in the benchmark index, any sharp fluctuation in the company's stock can have an outsized impact.
Strategists at Bank of America Merrill Lynch warned in a note late Wednesday that a hiccup in corporate profits would be enough to push the S&P 500 Index down by more than 10 percent before Valentine’s Day, although they remain bullish on equities over the longer-term.
The IRS, in a new policy, says it will block or suspend processing of 2017 income tax returns that do not comply with Obamacare rules requiring filers to disclose their health insurance status. The move to tighten Americans' compliance with the Affordable Care Act comes even as the Trump administration takes steps to undercut it. "Taxpayers remain obligated to follow the law and pay what they may owe at the point of filing," the IRS said in a description of the new policy. The ACA requires most people to have some form of health insurance coverage or pay a tax penalty — a requirement known as Obamacare's individual mandate. That penalty is the higher of 2.5 percent of adjusted gross household
Gold prices fell on Friday after the U.S. Senate approved a budget blueprint that paves the way for tax cuts, causing European stocks, the dollar and bond yields to rise as investors betting on faster economic growth bought riskier assets. The Republican-controlled Senate voted by 51-to-49 late on Thursday for the measure, which clears a hurdle to President Donald Trump's plans to reduce taxes by up to $6 trillion. Higher bond yields increase pressure on bullion because gold does not offer a yield, while a stronger dollar makes it more expensive for holders of other currencies.
Boeing Co said on Thursday it invested in Near Earth Autonomy, a Pittsburgh-based firm that develops technologies enabling autonomous flight such as drones. In addition to the undisclosed investment, Boeing said the two companies will also explore products and applications for emerging markets such as urban mobility. It was the first investment in autonomous technologies by Boeing's venture capital arm, Boeing HorizonX, since it was established in April of this year, Boeing said.
Is retirement dead? Before you start worrying too much, the fact that we think retirement as we know it is a thing of the past isn’t necessarily a bad thing. To understand that, just consider where the traditional idea of retirement came from in the first place.
Acacia Mining Plc’s tumultuous year doesn’t seem likely to ease up any time soon. The gold miner’s shares surged as much as 41 percent Thursday, after controlling shareholder Barrick Gold Corp. said it moved closer to resolving a crippling dispute with Tanzanian authorities. Tanzania banned exports of unprocessed gold in March and hit Acacia with a $190 billion tax bill in July, claiming the company had under-declared export revenue since 2000.
Singapore’s Sea Ltd., Southeast Asia’s most valuable startup, raised about $884 million in its initial public offering in New York. The company sold 59 million American depositary shares for $15 apiece, according to a statement Friday, offering more shares and pricing them above its initial range of $12 to $14 each. The total amount may be more than $1 billion if an option to sell additional shares is exercised, according to a person familiar with the matter, asking not to be identified because the matter is private. The games company is backed by Tencent Holdings Ltd. and has benefited from the Chinese company’s support. Sea licenses games from Tencent, which also holds a stake of about 40
United CEO: We're beginning to set stage for long-term strategy 5 Hours Ago | 03:12 Shares of United Continental Holdings plunged more than 12 percent on Thursday, following a tense earnings call, in which CEO Oscar Munoz said the airline dug itself "in a hole" in regard to competition. It was the biggest one-day percentage decline for the company's stock since October 2009, a year before United and Continental closed their merger. The airline beat analysts' earnings expectations for the quarter ended in September, but executives said United has struggled to fend off competition from low-cost carriers and faced higher fuel and other costs. Cost pressure could eat into the company's bottom
The unlimited data plans Verizon Communications Inc. once shunned are now helping the phone giant buy time for its next move. The all-you-can-use packages the largest U.S. wireless provider introduced this year led to a surge in subscribers for a second straight quarter. The increase gives Verizon more breathing room to create big new sources of revenue in media, advertising or connected cars as it struggles to maintain market share amid a price war. The telecommunications giant is aiming for a spring launch of a new online TV service that has been delayed at least twice, people familiar with the matter said, after settling on a strategy of delivering a sleeker version of cable programming over broadband.
More than 66 million Americans will see a 2% increase in their monthly Social Security and Supplemental Security Income (SSI) benefits in 2018. But many will see their take-home pay stay about the same as it was in 2017. In dollars and cents, the average retired worker's monthly benefit will rise $27 to $1,404 in 2018 from $1,377 in 2017. But depending on what happens with Medicare premiums, many people could see little or nothing of that 2% COLA, said Elaine Floyd, director of retirement and life planning at Horsesmouth. By way of background, the SSA deducts the Medicare Part B premium, which helps pay for physician, outpatient hospital, home health, and other services for the aged and disabled
On Oct 18, we issued an updated research report on cruise and vacation company Carnival Corporation CCL. Last month, the company posted better-than-expected third-quarter fiscal 2017 results, wherein both earnings and revenues beat the Zacks Consensus Estimate. Meanwhile, Carnival anticipates fiscal 2017 adjusted earnings per share in the range of $3.64 to $3.70 (previous projection was in the range of $3.60 to $3.70).
So, perhaps you’d like to know exactly how white and male Silicon Valley tech firms are. Sorry, that’s a secret. But nearly two dozen Bay Area technology firms have voluntarily broken the cone of silence around the lack of diversity in their industry. And they deserve some credit, because it’s not a pretty picture. Every year, companies with 100 or more employees must submit to the federal government an “EEO-1” form that breaks down workforce data by race, gender and job category. But although Uncle Sam collects those reports, he declines to share them with the taxpaying public. In order to pry open some kind of window into that black hole of hidden embarrassments (and possible liabilities),
U.S. stock index futures pointed to a strong positive open Friday, after the GOP moved closer to reaching tax reform. Dow Jones industrial average futures rose 87 points, while S&P 500 and Nasdaq 100 futures advanced 5.25 points and 12.75 points, respectively. The Senate approved a $4 trillion budget measure Thursday, taking a crucial step toward Republicans' goal of passing a tax plan this year. The chamber approved the budget resolution by a 51-49 vote. Sen. Rand Paul, R-Ky., was the only GOP senator to vote against it. Tax reform expectations had increased recently, helping lift U.S. stocks to record highs. Wall Street also paid attention to corporate earnings as Baker Hughes, General Electric
The developments around Harvey Weinstein are not dying down. It’s been two weeks now since The New York Times dropped a bombshell investigative report into allegations of sexual harassment against Harvey Weinstein, and the story continues to reverberate throughout Hollywood, the media and beyond. Today’s major development is that the Los Angeles Police Department is investigating allegations that the disgraced movie mogul raped an Italian model-actress at a hotel in 2013, reported the Los Angeles Times. The New York and London police are also investigating accusations against him. Meanwhile, The New Yorker published a statement from current and former Weinstein Co. employees insisting they didn’t
Sales per square foot at Target Corp's 44 small-format stores are "easily double" that at traditional stores, Target Chief Executive Brian Cornell said on Thursday, after the retailer announced 11 new small-format stores opening this week. Target said it recorded an average of $300 in sales per square foot across its stores, compared with at least $600 in sales per square foot from its small-format stores. Target's more than 70 newly remodeled stores have seen an average 2-4 percent increase in sales since being renovated, Cornell said at a news briefing on Thursday to launch the latest small-format store opposite the Macy's Inc headquarters in Manhattan, New York.
After Senate Minority Leader Chuck Schumer blasted the Republican tax plan as a potential multibillion-dollar boon for President Donald Trump and members of his cabinet, the Republican National Committee responded with a blast of its own: Schumer, a New York Democrat, is seeking to preserve a tax break that he used to deduct $58,142 in state and local income taxes on his 2016 federal return, said RNC spokesman Blair Ellis. Ellis called it “peculiar” that Schumer is working to preserve the state and local tax deduction, which tends to benefit high-earners who live in high-tax states. But it’s “not surprising as he is personally profiting off the deduction financially,” Ellis said in an email.