In a presentation and news conference on Monday that lasted more than two hours, Samsung Electronics Co. detailed the results of its investigation into Note 7 smartphones that overheated and burst into flames last year.
Day: January 22, 2017
China Box Office: ‘Arrival’ Leads Quiet Pre-Holiday Weekend
Cinemas were ghostly quiet as the country prepares for a wave of big local releases, lead by Stephen Chow and Jackie Chan, over the upcoming Chinese New Year holiday. Denis Villeneuve’s critically acclaimed sci-fi drama Arrival scored a weekend win at the Chinese box office, but it did so during the country’s weakest release frame of the year – the weekend before Chinese New Year.
China Box Office: ‘Arrival’ Leads Quiet Pre-Holiday Weekend
Cinemas were ghostly quiet as the country prepares for a wave of big local releases, lead by Stephen Chow and Jackie Chan, over the upcoming Chinese New Year holiday. Denis Villeneuve’s critically acclaimed sci-fi drama Arrival scored a weekend win at the Chinese box office, but it did so during the country’s weakest release frame of the year – the weekend before Chinese New Year.
Galaxy Securities Suspended After Surging 44% in Shanghai Debut
China Galaxy Securities Co. surged by the 44 percent daily limit in its Shanghai debut on Monday after the brokerage raised 4.09 billion yuan in a public offering.
Galaxy Securities Suspended After Surging 44% in Shanghai Debut
China Galaxy Securities Co. surged by the 44 percent daily limit in its Shanghai debut on Monday after the brokerage raised 4.09 billion yuan in a public offering.
Beware the Hedge-Fund Wipeout in Treasuries as Bearish Bets Soar
The “fast money,” made up of hedge funds and other speculators, upped its bearish bets like never before this month, based on futures data for five-year notes. At the same time, “real-money” accounts, composed of institutional buyers like mutual funds and insurers, did the opposite and built up their bullish positions in much the same way.
Beware the Hedge-Fund Wipeout in Treasuries as Bearish Bets Soar
The “fast money,” made up of hedge funds and other speculators, upped its bearish bets like never before this month, based on futures data for five-year notes. At the same time, “real-money” accounts, composed of institutional buyers like mutual funds and insurers, did the opposite and built up their bullish positions in much the same way.
Toshiba Climbs After Reports Its Chip Business Drawing Interest
Toshiba Corp. shares climbed the most in three weeks after reports the company’s plan to sell a stake in its chip unit is drawing attention from possible investors. The stock climbed as much as 7.3 percent to 264.8 yen in Tokyo, the biggest intraday gain since Dec. 30. Toshiba may sell a 20 percent stake in its memory chip operations to raise as much as 200 billion yen and has received interest from Canon Inc. and Tokyo Electron Ltd. as well as overseas private equity funds, the Asahi reported, without citing anyone.
Samsung Says Battery Was Key Cause of Galaxy Note 7 Fires
Samsung Electronics Co.’ s difficulties with Note 7 smartphones last year were caused by irregularly designed batteries that led to overheating and fires as the South Korean company announced the results of a lengthy probe into the debacle The initial batch of batteries were made by an affiliate, Samsung SDI Co.
Russia Locks In on What’s Wrong With Ruble Amid Post-OPEC Frenzy
Untethering the ruble helped Russia ride out the biggest oil downturn in a generation. But it’s left the world’s biggest energy exporter vulnerable to greater volatility in crude prices as OPEC pushes output cuts.
Hedge Fund Renaissance Picks Winner in Hot Japan Tech Stock
For the secretive U.S. hedge fund started by Jim Simons, it turned out to be an especially savvy bet. Shares of V Tech, as it’s known, surged almost threefold in 2016, with much of the gain coming after Renaissance first reported a stake.
Will Social Security’s $11 Trillion Shortfall Destroy Your Retirement?
Millions of seniors rely on Social Security to pay their living costs in retirement. The average beneficiary today receives $1,360 each month, though many collect much more.
It Takes Just 8 Weeks to Find a Job in Singapore
Job cuts in Singapore may be at the highest since 2009, but official data shows workers still have it easier than most. As local politicians seek to appease the population, the most recent figures show Singapore remains one of the easiest countries in the world to find work.
OPEC and Friends Agree on Way to Monitor Oil Cut to End Glut
OPEC and other oil producers agreed on a way to monitor their compliance with last month’s historic supply deal, putting global markets on track to re-balance after more than two years of oversupply. The countries have already cut oil supply by 1.5 million barrels a day, more than 80 percent of their collective target, since the deal took effect on Jan. 1, Saudi Arabia’s Minister of Energy and Industry Khalid Al-Falih told reporters in Vienna.
Hong Kong Retains Title of World’s Costliest Home Market
Hong Kong retained its rank as the most expensive housing market among 406 major metropolitan regions in the annual Demographia International Housing Affordability Survey for the seventh year in a row. The median price of a home in Hong Kong last year was 18.1 times the median annual pretax household income, the survey showed.
Ethics Group To Sue Trump, Claiming Constitutional Violations
A group of ethics experts and constitutional scholars plans to file a lawsuit against President Donald Trump on Monday morning, claiming that Trump is breaking the law by allowing his hotels and other businesses to profit from foreign governments. Trump was pressed to divest his business holdings before he took office, but did not, instead passing day-to-day operations to his two adult sons.
Samsung: Note 7 battery design, manufacturing caused fires
Samsung Electronics Co. said Monday that problems with the design and manufacturing of batteries in its Galaxy Note 7 smartphones caused them to overheat and burst into fire.
Too Much Ain’t Enough as Investors Jump Into Oil Market Rebound
Their bets on rising West Texas Intermediate crude prices reached the highest in data going back to 2006 as the Organization of Petroleum Exporting Countries and other producers reduce output to balance the market. Saudi Arabia, Algeria and Kuwait have already made deeper cuts than required, while Russia has been able to reduce supply faster than expected, ministers from the countries said over the weekend in Vienna as they gathered for the first meeting to monitor adherence to their output-cut accord.
With Trump Renewing Vow to Renegotiate NAFTA, Here’s Some of the Most Vulnerable Companies
The president’s call to rework or scrap the trade deal with Canada and Mexico, in place since 1994, has far-reaching implications–from candy companies to railways. On his second full day in office, President Donald Trump reiterated his campaign promise to renegotiate NAFTA, a move which would have a large impact across sectors.
Ita s usually difficult for people to agree on a crowda s size. Herea s why.
“A Sunday Afternoon on the Island of La Grande Jatte” is one of George Seurat’s most well-known paintings. If there is one fact about crowd size over the weekend that everyone can agree on, it’s that an inordinate amount of time has been spent arguing about it.
Sierra slammed: Avalanche warnings, 154-mph wind gust recorded
After recent heavy snowfall, this drone pilot from the Lake Tahoe area of California recorded some footage of the landscape. The snow-covered trees and buildings show the extent of the precipitation.
Young consumers ‘expect better service’
A study by the Institute of Customer Service found that while businesses were improving, a half of consumers with problems had to complain more than twice to get them sorted out. The Institute conducts a study twice a year charting customer service by drawing, in part, on the experiences of 10,000 people.
Your 2017 Guide to Retirement Planning
Saving for retirement is a challenge many workers face, but without an amply funded nest egg, you risk running out of money as a senior. Let’s explore your options for saving for retirement so that you can get started as soon as possible.
3 Stocks That Are Up 20% in January
The S&P 500 has risen less than 1% since the beginning of the year, but plenty of stocks posted double-digit gains during that time. Let’s take a closer look at three stocks that have rallied about 20% in January — Shopify provides a cloud-based e-commerce platform for small to medium-sized businesses.
OPEC, allies says production cuts ahead of schedule
OPEC and key non-OPEC oil producers are near their target of taking 1.8 million barrels of crude a day off global markets less than two months after agreeing to do so in efforts to push up the price of crude, Russia’s energy minister said Sunday. Alexander Novak’s upbeat comments to reporters came at the end of the first meeting of a joint OPEC-non-OPEC committee set up to monitor compliance to the Dec. 10 agreement.
Buffett’s Berkshire Buys German Pipe Company, Handelsblatt Says
One of Warren Buffett’s largest units at Berkshire Hathaway Inc. agreed to buy Wilhelm Schulz GmbH, a closely held German maker of piping components, as the billionaire’s deputies seek deals to expand, Handelsblatt reported. Mark Donegan, chief executive officer of Berkshire’s Precision Castparts unit, confirmed it’s buying Wilhelm Schulz but declined to elaborate on terms, the newspaper said.
OptionsHouse vs. TradeStation: Comparing Online Discount Brokers
For the most part, brokerages offer access to the same stock markets and the same investments as any other brokerage. The differences largely come down to how much it costs to get there, how much you need to get started, and what other features are tacked on as part of the service.
‘Alternative facts’ don’t fly with the folks at Merriam-Webster
Donald Trump adviser Kellyanne Conway floated the idea of “alternative facts” rather than provable ones. Merriam-Webster didn’t buy it.
4 The future depends on the deal Donald Trump and Paul Ryan are about to make
There was no invocation of our democratic faith. No paean to a more perfect union.
Report: Foxconn weighs $7 billion US factory with Apple
Foxconn Technology Group Chairman Terry Gou told reporters in Taipei the company is considering a joint investment with Apple for a display manufacturing facility in the U.S., according to a report by the Nikkei Asian Review. The facility would cost more than $7 billion and may create an eventual 30,000 to 50,000 jobs, the publication cited Gou as saying.
Trump May End Obamacare Insurance Requirement, Conway Says
The Trump administration may stop enforcing the Obamacare requirement that most Americans carry health insurance even before Congress repeals the law, Kellyanne Conway, a top adviser to the new president, said in interviews broadcast on Sunday. Such a move would take the teeth out of former President Barack Obama’s health-care law and could destabilize insurance markets, analysts say.
How Big Could the Opportunity Be for Marijuana Stocks in California?
In November, Californians overwhelmingly voted to embrace pro-pot laws that clear the way toward creating the United States’ biggest recreational marijuana market. Is California’s marijuana market a boon to marijuana investors? Read on to see how big California’s marijuana market could become.
American Airlines Follows United, Bans Carry-On Suitcases for Cheapest Tickets
Full-service airlines have fewer perks than ever for travelers flying in coach. However, one thing that had remained sacred in recent years was the right to bring a carry-on suitcase and put it in the overhead bin for free.
What Investors Need to Know About Nintendo’s Switch Console
Jan. 12 press conference gave the world a deeper look at its upcoming video game platform. The new system will hit store shelves on March 3 and carry a $300 price, with a new entry in the Legend of Zelda series serving as the system’s key launch game.
Verizon Is Finally Paying Attention to This Valuable Market
One area where AT&T has been able to stymie its losses is in prepaid customers. Unlike postpaid customers, prepaid customers pay for services before they receive them.
Top Biotech Stocks to Buy in 2017
Many individual biotech stocks have performed far worse. One bright side to all of that selling is that a handful of high-quality biotech stocks are currently trading for attractive prices.
IBM Finally Turns the Corner
The tech giant reported its fourth-quarter results on Jan. 19, beating analyst estimates on all fronts and surpassing its goal of producing at least $13.50 in adjusted per-share earnings for 2016. IBM expects to produce at least $13.80 in adjusted EPS in 2017, a small but important increase.
3 Biotechs Likely to Be Acquired in 2017
The year is still young, but we’ve already seen acquisitions of Ariad and CoLucid . Which biotechs could be scooped up next in 2017? Here’s why Clovis Oncology The number of big companies battling to acquire Medivationin 2016 shows that the oncology space is hot.
Foxconn Considering $7 Billion U.S. Investment For Flat Panel Display Production
Apple supplier Foxconn is considering a $7 billion investment that would establish a U.S.-based LCD display manufacturing hub that could create as many as 50,000 new jobs. Apple supplier Foxconn said Sunday it is considering a $7 billion investment that would establish a U.S.-based LCD display manufacturing hub that could create as many as 50,000 new jobs.
How Steven Mnuchin Could Affect the Markets
This commentary originally appeared on Real Money Pro at 1:00 p.m. on Jan. 20. Click here to learn about this dynamic market information service for active traders. Donald Trump’s nominee for Treasury Secretary, Steven Mnuchin, had his Senate confirmation hearing yesterday.