Month: January 2017

Volkswagen Said to Be Close to Settling U.S. Criminal Probe

Volkswagen AG is close to reaching a multibillion dollar settlement with the Justice Department over its cheating of diesel emissions tests, according to people familiar with the matter, wrapping up the company’s exposure to U.S. authorities in the long-running scandal. The resolution, which could come as soon as next week, would include criminal and civil penalties, said the people, who asked not to be named because the negotiations are confidential.

Fiat Chrysler Recalls 100K Vehicles to Fix Takata Air Bags

Fiat Chrysler is recalling more than 100,000 older trucks and SUVs worldwide to replace potentially dangerous Takata air bag inflators. The recall includes mainly passenger but some driver air bags in certain 2009 Chrysler Aspen and Dodge Durango SUVs, some 2010 Ram 3500 chassis cabs, and certain 2005-2009 Ram 2500 pickups.

FBI Releases Documents Related to San Bernardino iPhone

The FBI on Friday released 100 pages of heavily censored documents related to its agreement with an unidentified vendor to hack into an iPhone used by one of the San Bernardino, California, shooters, but it did not identify whom it paid to perform the work or how much it cost. The records were provided in response to a federal lawsuit filed against the FBI by The Associated Press, Vice Media and Gannett, the parent company of USA Today.

Rock and Roll God Gene Simmons Thinks the Dow Will Blow Past 20,000

Kiss legend Gene Simmons isn’t just a god of rock and roll, he is also keen on investing in the stock market. “My belief is that as soon as Donald Trump takes power, and as soon as he lowers the amount of taxes that people on the street are going to have to pay, watch the 20,000 ceiling on the Dow break,” Simmons told TheStreet in an interview.

Cable companies pushing to repeal internet privacy rules

Some of America’s biggest cable companies are asking the government to roll back a landmark set of privacy regulations it approved last fall — kicking off an effort by the industry and its allies to dismantle key internet policies of the Obama years. In a petition filed to federal regulators Monday, a top Washington trade group whose members include Comcast, Charter and Cox Communications argued that the rules should be thrown out.

Trump Said to Tell Confidant He Remains Opposed to AT&T Deal

Donald Trump remains opposed to the megamerger between AT&T Inc. and Time Warner Inc. because he believes it would concentrate too much power in the media industry, according to people close to the president-elect, who has been publicly silent about the transaction for months. Trump told a friend in the last few weeks that he still considers the merger to be a bad deal, said one of the people, who asked not to be identified because the conversation was private.

Distress Moving to Retail, Health Care as Energy Woes Fade

The combination of rising rates and a new political regime in the U.S. will bring about an uptick in corporate restructurings outside the energy space, creating new opportunities for investors in the riskiest parts of the debt market. That’s one of the conclusions from interviews with bond traders, bankruptcy lawyers, financial advisers and fixed-income analysts about the outlook for 2017.

Silicon Valley Cash Is Still Chasing Blood Despite Theranos Bust

Amid the collapse of Theranos Inc. last year, investors are betting that some of the disgraced blood-testing startup’s lofty medical goals might still have a kernel of promise — at other companies. Grail, a company backed by Bill Gates and Jeff Bezos, said on Thursday that it’s expecting to raise a record $1 billion on the promise of a blood test to detect early-stage cancer.

EasyJet Slips Off Pace Set by Ryanair on Terror, Brexit Squeeze

EasyJet Plc’s passenger count increased at less than half the pace of its low-cost rivals last year as Europe’s second-biggest discount carrier struggled with its exposure to the British and French travel markets. Customer numbers increased 6.6 percent to 74.4 million in 2016, Luton, England-based EasyJet said Friday.

Barclays Trader Fired Amid FX Probe Is Second to Lose Suit

A Barclays Plc trader fired after disclosing confidential information to rivals and using “laddish” language in electronic chats has become the second currency trader to lose an employment lawsuit against the lender. Mark Clark, who joined Barclays’ G10 spot desk in 2010, used coded language to identify clients in chats where locker-room style conversations about sport and women were commonplace, judge George Foxwell said in a ruling made public Friday.

AT&T sees faster path for deal

AT&T Inc. and Time Warner Inc. said they can avoid having the Federal Communications Commission scrutinize their proposed merger, eliminating a significant hurdle in the path of the $85.4 billion deal, which has attracted criticism from President-elect Donald Trump. “While subject to change, it is currently anticipated that Time Warner will not need to transfer any of its FCC licenses to AT&T in order to continue to conduct its business operations after the closing of the transaction,” the companies said in a regulatory filing dated Thursday.

Morgan Stanley Said to Cut Bonuses, Jobs for Equities Traders

Morgan Stanley, Wall Street’s biggest stock-trading firm by revenue, is cutting its global bonus pool for the equities division by as much as 4 percent and dismissing some employees after the industry’s results flagged last year, according to people with knowledge of the plans. The firm, which is set to pay annual bonuses next month, has been fine-tuning calculations for pay packages since November, according to the people, who asked not to be identified describing the deliberations.

Corzine Agrees to Futures Industry Ban in CFTC Settlement

Jon Corzine has agreed to a lifetime ban from the futures industry to settle a U.S. lawsuit that he failed to properly oversee MF Global Holdings Ltd. as the brokerage spiraled toward failure in 2011. Corzine, an ex-governor and U.S. senator from New Jersey and the former co-chairman of Goldman Sachs Group Inc., also agreed to pay a $5 million penalty from his own pocket to the Commodity Futures Trading Commission, under a consent order approved by a federal judge in New York Thursday.

Too Few Stocks Doing Too Much: Jim Cramer’s Best Blog

Jim Cramer ponders how too few stocks are doing too much in the Dow’s race to 20,000 and how there isn’t enough GANG to go with all the FANG. Jim Cramer fills his blog on RealMoney every day with his up-to-the-minute reactions to what’s happening in the market and his legendary ahead-of-the-crowd ideas.

Craft a Strategy From Retail’s Wreckage: Best of Kass

In highlights from this week’s trading diary and posts, Kass tells us about how the market’s optimism is misplaced and how to make a strategy from retail’s wreckage. Doug Kass fills his blog on RealMoney every day with his up-to-the-minute reactions to what’s happening in the market and his legendary ahead-of-the-crowd ideas.

Why Regeneron Pharmaceuticals, Sears Holdings, and Shake Shack Slumped Today

Friday was another record day for the stock market, with the Dow climbing above 19,999 without quite making it the final point higher to 20,000 before falling back toward the end of the day. A mixed jobs report seemed to give investors the perfect balance between economic strength and weakness, and market sentiment remained positive to frustrate those who had anticipated a quick pullback from the post-election rally once 2017 began.

Why Pacira Pharmaceuticals, Inc. Shares Shot 17% Higher Today

Pacira Pharmaceuticals markets the surgical pain medicine Exparel, and growing demand for it helped the company produce $72.9 million in revenue during the fourth quarter, according to preliminary results.Exparel sales grew 6.3% year over year, to $71.4 million, bringing full-year 2016 sales to $265.8 million, up 10.8% from 2015. Overall, Pacira Pharmaceuticals’ revenue is expected to total$276.4 million, up 11% from 2015.

Rule Breaker Investing Opens Up to Q&A for Entrepreneur Month

In this episode, Motley Fool co-founder David Gardner answers questions that cover everything from investing during a recession to strengths and weaknesses, quarterly earnings, and of course, his favorite board games. 10 stocks we like better thanWal-Mart When investing geniuses David and TomGardner have a stock tip, it can pay to listen.

How Much Social Security Tax Do I Pay?

Social Security helps millions of seniors and disabled Americans stay afloat financially, but to fund the program, current workers all need to contribute a portion of their earnings. So just how much does Social Security take out of your check? The amount of Social Security tax you’re liable for will depend on your income, but if you’re a high earner, you should know that this year, only your first $127,200 in wages will be subject to Social Security taxes.