U.S. Markets closed

  • S&P 500

    3,970.99
    +22.27 (+0.56%)
     

  • Dow 30

    32,237.53
    +132.33 (+0.41%)
     

  • Nasdaq

    11,823.96
    +36.56 (+0.31%)
     

  • Russell 2000

    1,734.92
    +14.63 (+0.85%)
     

  • Crude Oil

    69.20
    -0.06 (-0.09%)
     

  • Gold

    1,981.00
    -2.80 (-0.14%)
     

  • Silver

    23.36
    +0.03 (+0.11%)
     

  • EUR/USD

    1.0778
    -0.0058 (-0.5389%)
     

  • 10-Yr Bond

    3.3800
    -0.0260 (-0.76%)
     

  • Vix

    21.74
    -0.87 (-3.85%)
     

  • GBP/USD

    1.2230
    -0.0058 (-0.4733%)
     

  • USD/JPY

    130.5140
    -0.2750 (-0.2103%)
     

  • BTC-USD

    27,890.83
    +606.63 (+2.22%)
     

  • CMC Crypto 200

    597.33
    -21.06 (-3.41%)
     

  • FTSE 100

    7,405.45
    -94.15 (-1.26%)
     

  • Nikkei 225

    27,385.25
    -34.35 (-0.13%)
     

Samsung's halt of Galaxy Note 7 hurt third-quarter GDP: finance ministry official

Reuters
Employees walk in the main office building of Samsung Electronics in Seoul, South Korea, January 6, 2016. REUTERS/Kim Hong-Ji (Reuters)

SEOUL (Reuters) - Samsung Electronics Co Ltd's decision to scrap its Galaxy Note 7 smartphone likely erased 0.1 to 0.2 percentage points from third-quarter GDP growth in quarterly terms, a finance ministry official told Reuters on Tuesday. The official, who declined to be named as he was not authorized to speak to media on the issue, made the comments just hours after the Bank of Korea estimated third-quarter GDP growth at 0.7 percent from the previous three-month period. (Reporting by Christine Kim; Editing by Jacqueline Wong)

Recommended Stories

  • 'A serious problem': Big South Korean auto firms face heat as State Farm, Progressive now refuse to cover certain models — here’s why these cars are too risky to insure

    This is a TikTok challenge you don’t want to get behind.

  • J.P. Morgan Analysts Say These 2 Stocks Are Their Top Picks for 2023

    In the investing world, the art of “stock picking” is crucial for success; investors must choose the right stocks to invest in to achieve strong returns. Therefore, when Wall Street experts label a stock as a ‘Top Pick,’ it’s a significant indication that the stock has great potential, and investors should take note. Using the TipRanks platform, we’ve looked up the details on two stocks that have recently gotten ‘Top Pick’ designation from the analysts at banking giant J.P. Morgan. So, let’s div

  • A $300,000 Annuity Will Pay You This Much Monthly

    When you need another stream of income for retirement, you might consider an annuity. You purchase the annuity from an insurance company and receive payments back at a later date. Before buying an annuity, it's important to consider how much … Continue reading → The post How Much Does a $300,000 Annuity Pay Per Month? appeared first on SmartAsset Blog.

  • Roth IRA Withdrawal Rules and Penalties You Probably Don't Know About But Should

    Roth IRAs are one of the many ways you can save for retirement. Their key benefit – you can withdraw funds in retirement without paying taxes on the distributions – has made them very popular among tax-savvy investors. Still, there … Continue reading → The post Roth IRA Withdrawal Rules and Penalties appeared first on SmartAsset Blog.

  • Bearish Bets: 3 Stocks You Should Consider Shorting This Week

    Using technical analysis of the charts of those stocks, and, when appropriate, recent actions and grades from TheStreet's Quant Ratings, we zero in on three names. While we will not be weighing in with fundamental analysis, we hope this piece will give investors interested in stocks on the way down a good starting point to do further homework on the names. Children's Place recently was downgraded to Sell with a D+ rating by TheStreet's Quant Ratings.

  • I'm Buying Doug Kass' Case for Schwab

    Real Money writer Doug Kass made mention this week a few times that he is building up a position in Charles Schwab Corporation . The stock has dropped some 30% since the implosion earlier this month in Silicon Valley Bank . Insiders have purchased over $6 million shares in aggregate since SVB's debacle.

  • Elon Musk Suffers a Huge Loss

    Five months after buying Twitter for $44 billion, the billionaire estimates that the platform is worth just $20 billion.

  • Is There Actually an RMD Cut-Off Age?

    Required minimum distributions (RMDs) are the minimum amount that you must withdraw from certain tax-advantaged retirement accounts. They begin at age 72 or 73, depending on your circumstances and continue indefinitely. There is, unfortunately, no age when RMDs stop. You … Continue reading → The post At What Age Do RMDs Stop? appeared first on SmartAsset Blog.

  • Most Americans Retire at This Age

    Determining when to retire can be tough. There are various factors to consider, including your financial situation, your health, and the lifestyle you wish to enjoy once you retire. While the decision of when to retire is personal to you, … Continue reading → The post When Do People Retire on Average appeared first on SmartAsset Blog.

  • Jeremy Siegel says there's a silver lining to the current bank crisis — making him more optimistic about 2024. Is the famed economist onto something?

    Recent turmoil = a more bullish outlook? Here's how

  • Medicare Advantage plans seem enticing, but here are 12 things to consider before signing up

    Medicare Advantage plans are an increasingly popular alternative to Traditional Medicare, but you need to be careful before signing up.

  • Panic Around Deutsche Bank Being The 'Next Credit Suisse' Spreads

    The fall of 167-year-old Credit Suisse , which UBS committed to acquire on March 19, has thrown the European banking world in crisis. Shares of Stoxx Europe 600, which is made up of the 600 biggest banks in Europe, are down 4% from a month ago while German giant Deutsche Bank 's stock has been falling for three consecutive days. Over the last few years, Deutsche Bank in particular has been through a lot of tumult.

  • I'm 50. Is This Enough Money to Have in My 401(k) Right Now?

    Most Americans have less in their retirement accounts than they'd like, and much less than the rules say they should have. So, obviously, if that describes you then you're not alone. Now, most financial advisors recommend that you have between five … Continue reading → The post How Much Should I Have in My 401(k) at 50? appeared first on SmartAsset Blog.

  • Dow Jones Futures: Quiet Bank Weekend For Market Rally; Microsoft, Tesla Near Buy Points

    Futures loom on a quiet bank weekend for the market rally attempt. Microsoft and Tesla are near buy points.

  • This Table Explains 2023's IRA Required Minimum Distribution (RMD)

    An individual retirement account, more commonly referred to as an IRA, is a good place to save for your retirement. Once you reach a certain age, though, you'll have to start taking a minimum amount out of your account each … Continue reading → The post IRA Required Minimum Distribution (RMD) Table for 2023 appeared first on SmartAsset Blog.

  • Tesla Aggressively Increases Production

    Tesla wants to continue to dominate the automotive industry in the coming years. After seeing the rivals get closer, Elon Musk's group has unleashed an offensive in recent months to repel them. Tesla has lowered the prices of all its models, from the popular Model 3 and Model Y to the very luxurious Model X and Model S.

  • Charles Schwab Stock Got Hit in the Bank Mess. Be Careful.

    The brokerage’s stock has plunged by more than a third this year as customers yank cash from low-yielding “sweep” accounts. What’s ahead.

  • Bond Traders Go All-In on US Recession Bets That Defy Fed View

    (Bloomberg) -- Bond investors are piling into wagers that a US recession is around the corner amid a growing dissonance between how markets and the Federal Reserve see the outlook for the economy.Most Read from BloombergBond Traders Go All-In on US Recession Bets That Defy Fed ViewGreenland Solves the Daylight Saving Time DebateValley National, First Citizens Said to Bid on Silicon ValleyUS Mulls More Support for Banks While Giving First Republic TimeCredit Suisse Wouldn’t Have Lasted Another Da

  • Saudi Aramco in Deal with Chinese Partners to Build Refinery

    (Bloomberg) -- Saudi Aramco will start building a huge refining complex in northeastern China as soon as next month, reviving a plan to be an all-inclusive source of energy and chemicals as the Asian nation eyes long-term energy security.Most Read from BloombergBond Traders Go All-In on US Recession Bets That Defy Fed ViewGreenland Solves the Daylight Saving Time DebateValley National, First Citizens Said to Bid on Silicon ValleyUS Mulls More Support for Banks While Giving First Republic TimeCre

  • What Counts Toward the Gift Tax?

    If you give someone cash or property valued at more than the 2023 annual exclusion limit of $17,000 ($34,000 for married joint filers), you'll have to fill out Form 709 for gift tax purposes. But don't fret. This doesn't always … Continue reading → The post How to Fill Out Form 709 appeared first on SmartAsset Blog.