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

    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

  • Halliburton posts international revenue growth, unlike Schlumberger
    Reuters

    Halliburton posts international revenue growth, unlike Schlumberger

    International markets are becoming more important for U.S. oil companies, as industry executives brace for the North American fracking frenzy to slow, or "tap the brakes," as Halliburton had put it in July. "Our North American business is hitting on all cylinders and our international business proved resilient in a challenging environment," Chief Executive Jeff Miller said Monday after Halliburton posted its third quarter results.

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

    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.

  • Goldman Sachs warns of 'peak growth,' falling stock prices in 3 to 6 months
    Yahoo Finance

    Goldman Sachs warns of 'peak growth,' falling stock prices in 3 to 6 months

    The economy is growing at a healthy clip, which has helped propel the stock market to record highs. “Although economic data are extremely strong now, an ISM reading above 60 typically marks the peak of growth and presages economic and equity deceleration,” he said. An ISM above 60 is very strong, but is it signaling peak growth?

  • This Health Savings Account Triples Your Tax Breaks
    Bloomberg

    This Health Savings Account Triples Your Tax Breaks

    There may soon be three more letters in your employer’s alphabet soup of benefit plans. Those letters are HSA, which stands for health savings account, and they can bring tax advantages at a time when you could use them the most. Financial planners get all googly-eyed when talking about these accounts, though not because they’re a way to save pre-tax money to pay current medical costs. Instead, they rave about them as a way to save money to use for future medical costs—after you’ve retired. The key to that appeal comes from three magic words: Triple tax-free.  The number of HSA accounts grew 16 percent year over year as of June 30, surpassing 21 million, according to a survey by consulting firm Devenir.

  • Prince Alwaleed Bin Talal: Saudi Arabia in midst of majo...
    CNBC Videos

    Prince Alwaleed Bin Talal: Saudi Arabia in midst of majo...

    Prince Alwaleed Bin Talal, Kingdom Holding Company chairman speaks with CNBC's Andrew Ross Sorkin about global investing, Saudi Arabia's turnaround plan for the economy, implementing social change and Saudi Aramco's IPO.

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

    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 Press

    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
    MarketWatch

    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,

  • Cisco to buy BroadSoft in $1.9 billion deal
    Reuters

    Cisco to buy BroadSoft in $1.9 billion deal

    Cisco said on Monday it offered $55 per share, which represents a premium of 2 percent to BroadSoft's last close. BroadSoft shares were up 1.5 percent before the bell, while Cisco shares were up marginally. The deal, which comes after Reuters reported on Sunday that the companies were in talks, will give Cisco a stronger foothold in selling unified communications software to big telecommunications firms.

  • Brazil Sees Oil Exports Soar
    Oilprice.com

    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”.

  • Tesla Strikes Deal With Shanghai to Build Factory in China
    WSJ

    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.

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

    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
    WSJ

    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.

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

    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.

  • HP Enterprise's disappointing outlook could lead activists to push for a sale
    The Street

    HP Enterprise's disappointing outlook could lead activists to push for a sale

    As a result, there are only two big moves that activists often call for which HPE hasn't yet commenced: Overhauling the company's leadership, and pursuing a sale. The first action seems unlikely given the strength of CEO Meg Whitman's reputation -- at least provided Whitman doesn't choose to leave HPE, as some reports indicate she's open to doing. Editor's note: This article was originally published by The Deal, a sister publication of TheStreet that offers sophisticated insight and analysis on all types of deals, from inception to integration. Click here for a free trial. The second action feels more plausible, however, particularly following the disappointing guidance HPE shared at its analyst

  • From buying a first home to paying for college, a Roth IRA can come in handy long before retirement
    CNBC.com

    From buying a first home to paying for college, a Roth IRA can come in handy long before retirement

    Roth individual retirement accounts, in which after-tax deposits — and subsequent earnings — grow tax free, may be one of the best ways to save up for your golden years. But certified financial planner Sophia Bera, founder of financial advisory firm Gen Y Planning, says Roth IRAs can also come in handy long before account holders settle down into retirement. Because tax has already been paid on monies deposited in a Roth IRA, contributions — but not the interest earned on them — can always be tapped for other purposes. For example, "if an emergency comes up, you can actually take out the money from your Roth IRA and use it for any purpose," Bera said. (One caveat: There are income limits on who

  • Bogle: ETF Flows Muddle Valuation, Risk Picture
    Morningstar

    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.

  • Oil holds gains, supported by Iraq disruptions and drop in U.S. rigs
    Reuters

    Oil holds gains, supported by Iraq disruptions and drop in U.S. rigs

    Oil prices held on to last week's gains on Monday, supported by supply disruptions in Iraq and a drop in U.S. drilling. The number of U.S. rigs drilling for new oil fell by seven to 736 in the week to Oct. 20, the lowest level since June, energy services firm Baker Hughes said on Friday. U.S. West Texas Intermediate (WTI) crude was up 28 cents at $52.12 a barrel.

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

    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.

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

    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

  • Real Money

    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

  • GE's Got a New CEO
    The Street

    GE's Got a New CEO

    General Electric Co. (GE) shares posted a swing back into the green Friday, Oct. 20, after tumbling as much as 6% in early trading following disappointing third-quarter results. But if history is any indicator, shares could continue to decline in price under the tenure of a new CEO. Friday's report was the first under new chairman and CEO, John Flannery. He took over for Jeff Immelt, who had been head of the company since 2001. Following Immelt's first quarterly report Oct. 11, 2001, GE stock rose 2.7% on the day earnings were released, according to Bloomberg data. But after that 2.7% increase that day, GE stock tumbled as much as 45% during the next 16 months, according to the data. From his

  • Walmart Is Running Itself Like a Startup
    The Street

    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

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

    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.