Month: January 2017

Turkmenistan halts gas exports to Iran

The energy-rich Central Asian nation of Turkmenistan has suspended shipments of natural gas to Iran, which it says has not paid for deliveries since 2013. Turkmenistan’s Foreign Ministry said in a statement Tuesday that Iran’s failure to make payments in a timely fashion hindered Turkmenistan’s ability to operate its gas transportation infrastructure.

Trump names lawyer Lighthizer as top trade rep

President-elect Donald Trump announced Tuesday he will nominate lawyer Robert Lighthizer as U.S. trade representative, picking an experienced trade official who has questioned the conservative movement’s commitment to free trade. Lighthizer, who served as deputy USTR under President Ronald Reagan, would play a key role in Trump’s trade agenda.

Better Buy: Berkshire Hathaway vs. GE

However, Berkshire has soared 22% in 2016, and thus, is naturally less attractive than it was at this time last year. With that in mind, let’s take a look at Berkshire as compared to another stock I have my eye on right now, General Electric Aside from having Warren Buffett, the greatest long-term investor of all time, at the helm, there are plenty of good reasons to like Berkshire over the long run, no matter who is at the CEO’s desk.

The 2 Main Changes to IRAs in 2017

There aren’t a huge number of changes to IRAs in 2017 that will affect most retirement savers. 2017 will see the same maximum contribution of $5,500 for those who are under age 50, while an additional $1,000 catch-up contribution will bring the total maximum to $6,500 for those who are 50 or older.

China freight train in first trip to Barking

China has launched a direct rail freight service to London, as part of its drive to develop trade and investment ties with Europe. The train will take 18 days to cover the 12,000 mile journey and is carrying a cargo of clothes, bags and other household items.

You’ll Never Believe McDonald’s Newest Sandwich

Certain McDonald’s restaurants in Florida started serving Monday chicken McGriddles as part of the chain’s all-day breakfast menu. The sandwich will give people a taste of the always popular chicken and waffles — the McGriddle’s bread is made with syrup and the fried chicken is well, fried chicken.

McDonald’s Stock May Dip Further

In early December, McDonald’s began the second leg of its powerful post-election rally. Just prior to bottoming on Dec. 2, the stock traced out a healthy pullback after surging more than 10% from the November low.

An End-of-Year Technical Review of the S&P 500

The beginning of the New Year is a good point to look back and review market action using the monthly and weekly charts to identify long-term and intermediate-term trends and to look at daily charts for the short-term trends. A series of lower shadow or hammer-like candles formed on the monthly chart of the S&P 500 chart, which defined the bottom of an 18-month horizontal channel consolidation.

S&P 500 Is Pulling Back to Support, Offering a Buying Opportunity

Now that the index is approaching the 2179 to 2212 zone, keep a close eye out for price action purchase signals to get long and re-join the uptrend. We are still looking to buy this market from support/value on pullbacks, and now that it is approaching the 2179 to 2212 support zone, we will keep a close eye out for price action buy signals to get long and re-join the uptrend.

Conagra Brands Is a ‘Healthy Choice’ for Upside

This maker of brands that include Reddi-wip, Healthy Choice, Slim Jim and Orville Redenbacher’s, may not seem as sexy as the latest bio-tech play but the stock has nearly doubled in the past three years. In this daily chart of CAG, above, we can see the relatively steady climb in prices the past 12 months.

This Market Action is Ridiculous

A fascinating thing about market action like we have today is the difference between the attitude of the business media that is writing sensationalist headlines and the mood of individual traders that actually are trying to make money. The press always assumes that a big jump in the market is wildly positive and that everyone is celebrating.

Why I Sold Cisco Systems

The stock market just continues to grind higher and higher. Not counting today’s major surge, since Nov. 8, the S&P 500, alone, has advanced some 10%, and the broader market index was already well above its median valuation of 14.65 times earnings.

Infosys, Wipro Leaders Warn of Challenging Times for Indian IT

The leaders of two of India’s largest technology services companies, Infosys Ltd. and Wipro Ltd., have warned employees that their industry faced a grave threat from rising political and economic conflict around the world. Employees need to innovate and bring out their best to survive, Infosys Chief Executive Officer Vishal Sikka said in a year-end note to staff.

Fiat Chrysler Pauses From Gas-Guzzlers to Show Electric Minivan

Fiat Chrysler Automobiles NV is laying out a vision of a battery-powered, self-driving minivan that it bets even a millennial could love. That may not be enough to shake the automaker’s image as the purveyor of the least fuel-efficient fleet in the U.S. The automaker’s fifth-generation minivan, whose design concept is called the Chrysler Portal, would have a 250-mile electric range and enough screens, ports and social-media options to entertain young families while software handles much of the driving.

George Lucas museum cliffhanger: LA or San Francisco?

This concept design provided by the Lucas Museum of Narrative Art shows a rendering of their proposed museum on Treasure Island in San Francisco. In January George Lucas, the legendary filmmaker, is expected to decide whether he will put a museum for … his extensive personal art collection in San Francisco or Los Angeles, after other attempts were upended by community opposition.

National Debtline expects busiest January in years

The operator of National Debtline expects to have its busiest January in years, and is predicting that over five million people could run into debt. Just before Christmas, the governor of the Bank of England, Mark Carney, warned about the high level of debt among UK households.

2 Russian Navy ships arrive in Manila for goodwill visit

Russian crewmen stand at attention on board the Russian Navy vessel Admiral Tributs, a large anti-submarine ship, as it docks at Manila’s pier, Philippines on Tuesday, Jan. 3, 2017. Two Russian Navy Vessels are in the country for a goodwill visit till Jan. 7. less Russian crewmen stand at attention on board the Russian Navy vessel Admiral Tributs, a large anti-submarine ship, as it docks at Manila’s pier, Philippines on Tuesday, Jan. 3, 2017.

China Gets Stricter on Forex Transactions to Limit Outflows

At risk of capital flight, China marked the new year with extra requirements for citizens converting yuan into foreign currencies. The State Administration of Foreign Exchange, the currency regulator, said in a statement Dec. 31 that it wanted to close loopholes exploited for purposes such as money laundering and illegally channeling money into overseas property.

Trump expected to name lawyer Lighthizer as top trade rep

President-elect Donald Trump is expected to nominate lawyer Robert Lighthizer as U.S. Trade Representative, a transition official said Monday night, filling in one of the final pieces in the new administration’s senior team. Lighthizer, who served as deputy USTR under President Ronald Reagan, would play a key role in Trump’s trade agenda.

Don’t Expect @realDonaldTrump to Tweet Foxconn Plan: Gadfly

Here’s a challenge to President-elect Donald Trump’s plan to be bring jobs back to America before his inauguration Jan. 20. In an announcement made just before the new year, Foxconn’s flagship Hon Hai Precision Industry Co. said it will spend $8.8 billion to build a massive display-panel factory for its joint venture with Sharp Corp. Crucially, the location chosen by Foxconn Chairman Terry Gou is China, not the U.S. The obvious setback is that this is 8.8 billion greenbacks that won’t be pumped into Trump’s America.

China Drills Down Into Forex Transactions as Money Exits Abroad

At risk of capital flight, China marked the new year with extra requirements for citizens converting yuan into foreign currencies. The State Administration of Foreign Exchange, the currency regulator, said in a statement Dec. 31 that it wanted to close loopholes exploited for purposes such as money laundering and illegally channeling money into overseas property.

South Korea Halts Some Nissan, BMW Sales in Emissions Probe

South Korea banned the sale of 10 models built by Nissan Motor Co., BMW AG and Volkswagen AG’s Porsche after an investigation found the automakers fabricated documents related to emission tests. The three manufacturers were slapped with total fines of 7.17 billion won , which apply to 4,523 vehicles, and the certifications given for these models have been withdrawn, the Ministry of Environment said in a statement Monday.

Singapore’s Economy Expands More Than Economists Estimated

Singapore’s economic growth quickened to the fastest pace in more than three years last quarter as manufacturing and services rebounded. Gross domestic product rose an annualized 9.1 percent in the three months to December from the previous quarter, when it declined a revised 1.9 percent, the trade ministry said in a statement on Tuesday GDP rose 1.8 percent in the fourth quarter from a year earlier, compared with the 0.3 percent median estimate in a Bloomberg survey Singapore, among Asia’s most-export dependent nations, is seeking new growth engines to boost incomes as its population ages and trade falters.