Day: January 26, 2017

IRS Form 1099-R: What Every Retirement Saver Should Know

Saving for retirement can take your entire career, but when it comes time to retire, you want to make sure your savings work as hard as they can for you. With tax-favored accounts like IRAs, 401 s, and other employer-sponsored retirement plans, the tax-deferred growth they offer can dramatically boost your savings.

New Fears for Future of Net Neutrality

Ajit Pai, named the new chairman of the Federal Communications Commission by President Donald Trump yesterday, is likely to seek changes to the organization’s stance on Net Neutrality. Pai was one of two commissioners to vote against the FCC’s 3-2 approval of the Open Internet Order in early 2015.

Donald Trump appoints Indian-American lawyer as special assistant

Washington : US President Donald Trump has appointed Uttam Dhillon as his special assistant and associate counsel, making him the second Indian-American on his White House staff. An expert on ethics and law, Dhillon will have an important role in ensuring that ethical problems do not arise from the businessman-turned-President’s extensive businesses, Trump’s spokesperson Sean Spicer said on Wednesday.

Rising Tiger Philippines Posts Some of the World’s Fastest Growth

After years spent languishing behind its neighbors, the Philippines is finally catching up with its fellow Asian tiger economies as it posts some of the fastest growth rates in the world. With the World Bank forecasting expansion of more than 6 percent for eight years until 2019 — unparalleled in the nation’s history — the Philippines is mimicking gains seen in Malaysia and Thailand in the 1990s as they industrialized.

RBS to Take $3.8 Billion Charge Tied to U.S. Mortgage Probe

Royal Bank of Scotland Group Plc said it will take a 3.1 billion-pound charge in its fourth-quarter results as it moves closer to resolving a U.S. probe into sales of mortgage securities before the financial crisis. The lender is continuing to cooperate with the U.S. Department of Justice on its investigation, though timing of a settlement remains uncertain, the Edinburgh-based bank said Thursday in a statement.

Uber Rival Taps Investors With Proof Rides Can Rake in Profits

To convince investors to finance a pan-European war against Uber Technologies Inc., a French ride-hailing app 50 times smaller has a one-word pitch: profit. Chauffeur-Prive is near closing a 50-million-euro fundraising round to expand out of Paris into the rest of Europe, with the promise it can extend a five-year streak of growth while turning a profit, as bigger rivals lose money.

Investors Dig These Hedge Funds. So Why Don’t Firms Start More?

Investors in the region have been flocking to funds like Marshall Wace’s Liquid Alpha, a regulated hedge fund that increased assets almost 13-fold last year to $1.7 billion, according to a person familiar with the matter. Schroder GAIA Two Sigma Diversified fund, another such vehicle, has attracted $700 million since it was started about five months ago.

RBS Confirms $3.8 Billion DoJ Provision; Will Take Hit in Full-Year Earnings

RBS will book a 3.1 billion provision linked to DoJ investigations into the sale and underwriting of mortgage-backed securities in the run-up to the global financial crisis. The Royal Bank of Scotland said Thursday that it will book a A 3.1 billion provision in advance of a settlelment with the U.S. Department of Justice linked to the sale and underwriting of mortgage-backed securities in the run-up to the global financial crisis.

Palo Alto residents balk at burden on traffic, housing as Stanford grows

Stanford’s plans to expand through 2035 do not go far enough to curb traffic congestion and increase affordable housing, Palo Alto residents and university students and employees said during a community meeting Wednesday. The university has submitted an application to Santa Clara County seeking a general use permit to add nearly 2.3 million square feet of academic buildings and up to 3,150 on-campus housing units for students, staff and faculty.

Sky Subscribers Grow, Earnings Fall in First Half

The European pay TV giant, in which 21st Century Fox owns a 39 percent stake, which it is looking to boost to full ownership, had to absorb higher soccer rights costs. European pay TV giant Sky on Thursday reported lower earnings for the first half of its fiscal year amid higher soccer costs in Britain, but signed up more customers than in the year-ago period.

Credit Suisse Said to Consider Dublin Expansion as Brexit Nears

Credit Suisse Group AG is exploring options for expanding in Dublin, as the U.K. moves closer to exiting the European Union, according to two people familiar with the matter. The Irish capital is emerging as a favored location for the bank’s so-called back-office jobs, said one of the people, who asked not to be identified because a final decision hasn’t been made.

European Stocks Called Higher as Investors Ride Global Stock Rally

European stocks are expected to open higher Thursday as investors ride the wave of a record close on Wall Street and solid corporate earnings. European stocks are expected to open higher Thursday as investors ride the wave of a record close on Wall Street and solid corporate earnings and set aside, for the moment at least, concerns over the protectionist direction of President Donald Trump.

Trump compares Chicago violence to Afghanistan

President Donald Trump repeated a threat that he would “send in the feds” if law-enforcement officials in the nation’s third-largest city fail to reduce the crime rate. During an interview with ABC News’ David Muir on Wednesday night, Trump asserted that “carnage” in Chicago is getting out of hand.