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Mnuchin Says Trump Policies Will Raise Wages Without Inflation

The Trump administration’s policies will raise U.S. wages without causing broader inflation, Treasury Secretary Steven Mnuchin said in an interview, brushing aside signs that investors are growing nervous about rising prices.

  • Exclusive: Sears finalizing $350 million bankruptcy loan with Great American - sources
    Finance
    Reuters

    Exclusive: Sears finalizing $350 million bankruptcy loan with Great American - sources

    Sears Holdings Corp (SHLDQ.PK) is finalizing a deal with financial firm Great American Capital Partners and other lenders for $350 million in bankruptcy financing that would keep the retailer open through the holiday season while it attempts to reorganize, people familiar with the matter said on Wednesday. The deal increases an existing financing package from banks to give Sears a bankruptcy loan totaling $650 million, the sources said. The loan from Great American Capital Partners, an affiliate of liquidation firm Great American Group and financial services firm B. Riley Financial Inc (RILY.O), and its partners also gives Sears additional breathing room to seek buyers for its assets.

  • PG&E Plunges After Draining Credit Facilities Amid Fire Costs
    Business
    Bloomberg

    PG&E Plunges After Draining Credit Facilities Amid Fire Costs

    Shares of PG&E Corp. plummeted as much as 18 percent Wednesday after the company said it had exhausted its revolving credit lines, signaling its growing financial stress. “The risk of bankruptcy is very real for these guys,” Bloomberg Intelligence analyst Jaimin Patel said in an interview. PG&E has a total of $3.46 billion in cash and cash equivalents, and another $1.4 billion in wildfire insurance coverage, according to regulatory filing Tuesday.

  • Advanced Micro Devices’ (AMD) Supercomputer to Hit the Market at the Turn of the Year
    Business
    SmarterAnalyst

    Advanced Micro Devices’ (AMD) Supercomputer to Hit the Market at the Turn of the Year

    The device is made for workloads that are aided by higher frequencies, such as electronic design automation, high-frequency trading and HPC. AMD’S senior vice president and chief technology officer of AMD, Mark Papermaster remarked on the company’s recent success: “It’s been a fantastic year in the supercomputing space as we further expanded the ecosystem for AMD EPYC processors while securing multiple wins that leverage the benefits AMD EPYC processors have on HPC workloads.

  • These numbers show Suze Orman is right about needing $5 million to retire
    News
    MarketWatch

    These numbers show Suze Orman is right about needing $5 million to retire

    Suze Orman broke the internet earlier this month when she told the “Afford Anything” podcast that those buying into the FIRE movement (financial independence, retire early) better save at least $5 million to achieve that goal. “Her views ruffled a lot of feathers, but after crunching the numbers, I have to agree — $5 million sounds about right if you want to retire before the age of 60,” the Financial Samurai blog’s Sam Dogen said. Dogen says 40 is the absolute earliest he’d recommend anybody retire, although even then, that’s asking a lot out of your investments.

  • Why you need to be high as a kite to buy cannabis maker Tilray's stock
    Finance
    Yahoo Finance

    Why you need to be high as a kite to buy cannabis maker Tilray's stock

    The raw numbers don’t support investing in the hype machine that has become Tilray (TLRY). As we have discussed with you in the past, this continues to accelerate and become a reality,” Tilray CEO Brendan Kennedy told five stock analysts on a conference call. Brendan Kennedy, CEO and founder of British Columbia-based Tilray Inc., poses before closing Nasdaq, where his company’s IPO (TLRY) opened, Thursday, July 19, 2018, in New York.

  • Sean Spicer on CNN’s lawsuit against the Trump administration
    Politics
    Fox Business Videos

    Sean Spicer on CNN’s lawsuit against the Trump administration

    Former White House Press Secretary Sean Spicer discusses how CNN is suing the Trump administration for taking away Jim Acosta’s press credentials.

  • Why Rite Aid Is Down 35% in 2018
    Business
    Motley Fool

    Why Rite Aid Is Down 35% in 2018

    Rite Aid (NYSE: RAD) has gone through monumental challenges over the past several years. Having been under threat as the No. 3 player in the drugstore retail industry, Rite Aid seemed to have reached a final solution to its difficulties by negotiating a merger deal with Walgreens Boots Alliance (NASDAQ: WBA) back in 2015. Only after years of delays and review did Rite Aid manage to get a severely scaled-back deal done with Walgreens in 2017, under which Walgreens took over more than 1,900 Rite Aid store locations for $4.4 billion.

  • Visa (V) Flat As Market Sinks: What You Should Know
    Business
    Zacks

    Visa (V) Flat As Market Sinks: What You Should Know

    Visa (V) closed the most recent trading day at $139.72, making no change from the previous trading session. Heading into today, shares of the global payments processor had gained 1.81% over the past month, outpacing the Business Services sector's loss of 1.59% and the S&P 500's loss of 1.27% in that time. V's full-year Zacks Consensus Estimates are calling for earnings of $5.32 per share and revenue of $22.84 billion.

  • Why Chesapeake Energy Is Down 10% in 2018
    Business
    Motley Fool

    Why Chesapeake Energy Is Down 10% in 2018

    After plunging 43.6% in 2017, investors in Chesapeake Energy (NYSE: CHK) were hoping for a bounce-back year in 2018. Unfortunately, that hasn't happened, as shares of the oil and gas giant have lost about 10% of their value through mid-November. After hugging the flat line for the first several weeks of the year, Chesapeake Energy tumbled in February because it issued a disappointing production forecast.

  • Pilots says Boeing didn't disclose jet's new control feature
    Business
    Associated Press

    Pilots says Boeing didn't disclose jet's new control feature

    Boeing didn't tell airline pilots about features of a new flight-control system in its 737 MAX that reportedly is a focus of the investigation into last month's deadly crash in Indonesia, according to pilots who fly the jet in the U.S.

  • Business
    Motley Fool

    3 Companies Hit 52-Week Lows on Earnings

    On Motley Fool Money, analysts Chris Hill, Jason Moser, David Kretzmann, and Jeff Fischer hit on the biggest stories in the market this week. Shares of Disney (NYSE: DIS) hit a new all-time high after a sweet quarterly report and promising news about the company's soon-to-be streaming service. Activision Blizzard and Take-Two Interactive (NASDAQ: TTWO) both reported impressive quarters and then took a hit on the nose.

  • Business
    CNBC

    Wall Street's top analysts are sticking by these tech stocks amid the market correction

    All in all, November isn't shaping up to be much better than October. The Nasdaq Composite Index fell back into correction territory on Monday, pulled down by major tech stocks. Concerns about overblown valuations have hurt the sector over the last

  • Is Rio Tinto (RIO) A Hidden Gem or a Chunk of Coal?
    Finance
    Insider Monkey

    Is Rio Tinto (RIO) A Hidden Gem or a Chunk of Coal?

    Most investors tend to think that hedge funds and other asset managers are worthless, as they cannot beat even simple index fund portfolios. In fact, most people expect hedge funds to compete with and outperform the bull market that we have witnessed over the past few years. Hedge fund sentiment towards Rio Tinto plc (ADR) (NYSE:RIO) ticked up in Q2 for the first time in five quarters, though there are still 20% fewer shareholders of the stock compared to early 2017.

  • Reactions to Harley-Davidson's new electric bike?
    Business
    Fox Business Videos

    Reactions to Harley-Davidson's new electric bike?

    Bikers for Trump founder Chris Cox on Harley-Davidson's new LiveWire electric motorcycle.

  • Why General Electric Company's Shares Jumped as Much as 13.3% Today
    Business
    Motley Fool

    Why General Electric Company's Shares Jumped as Much as 13.3% Today

    Shares of General Electric Company (NYSE: GE) jumped as much as 13.3% in trading Tuesday after the company announced the potential sale of its stake in oil-field services company Baker Hughes (NYSE: BHGE). GE will sell up to 101.2 million shares of Baker Hughes, 65 million of which will be acquired by Baker Hughes itself. The deal could net GE $4 billion based on Baker Hughes' current valuation.

  • Gauging Analysts’ Views on TransEnterix Stock
    Finance
    Market Realist

    Gauging Analysts’ Views on TransEnterix Stock

    TransEnterix's November So Far: Analysts Are Mostly Positive (Continued from Prior Part) Analysts’ recommendations In November, of the five analysts covering TransEnterix (TRXC), three have given it “buy” or higher ratings, and two have given it

  • Why early retirement is all it’s cracked up to be
    News
    MarketWatch

    Why early retirement is all it’s cracked up to be

    Sometimes, the stuff that people say about early retirement (and early retirees) is terrible. It is assumed that early retirement is the end of productive life and that unless we’re swimming in millions in cold hard cash, early retirement will eat us alive. As I said in my one-year early retirement performance review, early retirement is all that it’s cracked up to be.

  • 3 Overpriced Semiconductor Stocks Due for a Fall
    Finance
    InvestorPlace

    3 Overpriced Semiconductor Stocks Due for a Fall

    Semiconductor stocks have had it very easy for the last few years. In looking for semiconductor stocks to dump I’m looking for companies that investors had overreached for, but where the final collapse has not yet come. Put the cash in your pocket while it’s still on the table.

  • Goldman Sachs is implicated in history’s largest financial con – but will it be held accountable?
    World
    The Independent

    Goldman Sachs is implicated in history’s largest financial con – but will it be held accountable?

    In 2012 and 2013, the Malaysian government was raising $6.5bn (£5bn) from investors to establish a sovereign wealth fund and finance various domestic infrastructure investment projects. Appropriately, some went into investing in Martin Scorsese’s The Wolf of Wall Street. At one stage $680m mysteriously appeared in the bank account of the former Malaysian prime minister, Najib Razak, who chaired the 1MDB advisory board, and who is now charged in his own country with corruption.

  • California Faces Deadliest Wildfire, Utilities' Loss Havoc
    Finance
    Zacks

    California Faces Deadliest Wildfire, Utilities' Loss Havoc

    In the most destructive wildfire in the state’s history, “Camp Fire” ravaged extensive parts of Northern California, claiming 48 lives so far. Meanwhile, Woolsey Fire caused two deaths in Southern California, with a whopping 57,000 structures still threatened by the fire, per a CNN report. While the deadly blaze continues in parts of Northern as well as Southern California, disaster modeler CoreLogic predicts that 48,390 homes in the state are at "high or extreme risk" of damage.

  • Here's What Marijuana Stock Aurora Cannabis Is Saying About Its Future
    Business
    Motley Fool

    Here's What Marijuana Stock Aurora Cannabis Is Saying About Its Future

    Aurora Cannabis' (NYSE: ACB) latest quarterly earnings suggest its aggressive strategy, which includes 25 acquisitions so far, is paying off. The company's sales are soaring, and with Canada's recreational market only four weeks old, the future appears bright. Is Aurora Cannabis a pot stock worth buying?

  • Better Buy: General Electric Company vs. General Motors
    Business
    Motley Fool

    Better Buy: General Electric Company vs. General Motors

    Over the past few years, there was a case to be made that General Electric Company (NYSE: GE) and General Motors Company (NYSE: GM) shared a lot more than just the similar names. After all, some $82 billion in assets were wiped out when it went bankrupt in 2009.

  • PG&E Emailed Customer About 'Problems With Sparks' Day Before California's Camp Fire, Report Says
    Finance
    Fortune

    PG&E Emailed Customer About 'Problems With Sparks' Day Before California's Camp Fire, Report Says

    The day before the deadly Camp Fire erupted in California, a power utility company emailed a property owner asking for permission to access the woman’s property to address sparking power lines, according to the Associated Press. Betsy Ann Cowley, who lives in Pulga, Calif. near where the fire started, said that she got an email from Pacific Gas & Electric while on vacation Wednesday in which the power company told her “they were having problems with sparks,” she told the AP. Cowley said the power company visited her property but she said she wasn’t there and was not aware of their findings, the AP reported.

  • Should You Buy Qualcomm for Its 4% Dividend Yield?
    Business
    Motley Fool

    Should You Buy Qualcomm for Its 4% Dividend Yield?

    Qualcomm (NASDAQ: QCOM) shed more than 10% of its market value this year after it avoided a takeover bid by Broadcom, lost its own takeover bid for NXP, and faced fresh regulatory probes and lawsuits from OEMs -- most notably Apple (NASDAQ: AAPL) and Huawei -- which claimed that its wireless licensing fees were too high. Qualcomm tried to offset some of the damage with a $30 billion buyback plan, but the chipmaker's fourth-quarter report didn't boost investor confidence. For the first quarter, Qualcomm expects its revenue to drop 13%-26% annually due to an 18%-26% drop in its MSM chip shipments and unresolved issues at its licensing business, but for its non-GAAP EPS -- again lifted by buybacks -- to rise 7%-17%.

  • 3 Top Healthcare Stocks to Buy in November
    Business
    Motley Fool

    3 Top Healthcare Stocks to Buy in November

    Demand for healthcare goods and services is less tied to the economy's whims and whispers than other sectors, and that could make healthcare stocks the perfect addition to portfolios given the market's recent tumble. Although there are many healthcare stocks worth considering, these Motley Fool contributors think this is a particularly good time to pick up shares in Centene Corp. (NYSE: CNC), Novocure (NASDAQ: NVCR), and Johnson & Johnson (NYSE: JNJ). Read on to learn why November's election was good news for Centene, how reward may outweigh risk at Novocure, and why investors may be overstating J&J's valuation.