January is typically the slowest month of the year for new-vehicle sales, and a surprisingly robust December likely stole some thunder from the latest month. Detroit’s Big Three all reported declines in January U.S. sales versus last year.
Day: February 1, 2017
Comparing the US Federal Reserve’s views on economy
A comparison of the Federal Reserve’s statements from its two-day meeting that ended Wednesday and its meeting Dec. 13-14: January: Fed policymakers are more confident about inflation.
AMD Shows Progress as Ryzen Launch Looms
The company beat analyst estimates across the board when it reported its fourth-quarter results, driven mostly by its Polaris graphics cards. The PC CPU market also treated AMD a little better, with client processor sales improving compared to the third quarter.
Pornhub wants to teach you about sex with its new ‘sexual
Pornhub garners 87.8 billion video views a year on average that’s about 12 porn videos for every person on earth. And, Pornhub has decided, with great pornographic power comes great responsibility.
How Blacks Took Banking Into Their Own Hands
Many folks try to make a dollar out of 15 cents, but African Americans don’t always take those nickels and dimes to a bank. More than 18% of African Americans don’t have traditional bank accounts, compared with 7% of all Americans, according to the Federal Deposit Insurance Corp. But where banks don’t fill the bill, communities have created their own solutions, including grassroots traditions and minority-owned banks and credit unions.
FTC Returns Nearly $20 Million in Additional Refunds to T-Mobile Customers
The Federal Trade Commission is mailing refund checks totaling nearly $20 million to more than 617,000 T-Mobile customers who had third-party charges added to their mobile bills. These refunds are the result of a 2014 settlement with T-Mobile , which also involved all 50 states and the District of Columbia, as well as the Federal Communications Commission.
Retailers, trade groups increase fight against tax proposal
More than 100 retailers including Wal-Mart and Target as well as key trade associations are launching a new coalition aimed at fighting a Republican proposal on how imports get taxed, which they believe would harm their businesses. The National Retail Federation, along with the American International Automobile Dealers Association, the National Grocers Association and others are joining forces to form Americans for Affordable Products, which will run a campaign to educate consumers and show lawmakers that the so-called Border Adjusted Tax plan would lead to higher prices of as much as 20 percent on everyday items including clothing, food and even gas.
RushCard customers to share $10 million for card outage
Russell Simmons, the co-founder of RushCard,at a conference in 2008. RushCard has agreed to pay $20.5 million to customers temporarily locked out of their accounts last year.
Russell Simmonsa RushCard fined $13 million for 2015 outage
Federal regulators ordered hip-hop mogul Russell Simmons’ company RushCard to pay $13 million in fines and restitution related to a 2015 outage that cut off tens of thousands of its customers from their money. The Consumer Financial Protection Bureau said Wednesday that it has ordered RushCard and MasterCard to pay $10 million in restitution to customers as well as a $3 million fine.
Facebook Carries ‘One Long-Term Concern,’ RBC’s Mahaney Says
Facebook, the social media giant that if it were a country would be the most populous in the world, will report its fourth quarter earnings results after the market close on Wednesday. “We like the setup with Facebook going into this print tonight,” RBC tech analyst Mark Mahaney said on CNBC’s “Halftime Report” Wednesday afternoon.
Target Slims Down After Less Than Festive Holiday Season
It looks like Target will join the growing list of retailers opting to slim down a bit after a tepid holiday shopping season. Target has canceled Goldfish, an e-commerce start-up launched a year ago, and has killed a prototype for a robot infested store of the future that was scheduled to soon be constructed in Silicon Valley, according to report Wednesday afternoon by Star Tribune .
9/11 Mastermind Interrogator: U.S. Needs Harsher Grilling Techniques
Former CIA Contractor James Mitchell on the security for the Super Bowl, interrogation techniques needed in the fight against terrorism, and Iran's reaction to the U.S. temporary immigration ban. Dr. James Mitchell, who formerly interrogated 9/11 mastermind Khalid Sheikh Mohammed, said the U.S. needs to adopt tougher techniques.
Why Luxottica Group and Essilor International Pair So Well Together
Tune in as the team covers the many ways in which these two European industry leaders complement each other, from their product lines to their balance sheets. 10 stocks we like better than Luxottica Group When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen.
Where Will Northern Dynasty Minerals Be in 10 Years?
There is one minor detail, though: It hasn’t done much mining. That’s because the U.S. Environmental Protection Agency nixed the company’s plans to develop the Pebble Project in Alaska in 2014 after ruling that it could threaten the world’s largest sockeye salmon fishery.
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U.S. stocks opened higher on Wednesday, in a bright start to the month, as Apple powered a rally in technology stocks, while investors awaited the Federal Reserve’s decision on interest rates. The Dow Jones industrial average was up 82.17 points, or 0.41 percent, at 19,946.26, the S&P 500 was up 8.3 points, or 0.364216 percent, at 2,287.17 and the Nasdaq composite was up 39.94 points, or 0.71 percent, at 5,654.73.
Valero Energy Works Through a Tough Operating Environment to Churn Out Profits
Revenue and earnings were in line with expectations as a weak refining environment and high compliance costs continued to weigh on decent operations at the company level. The one thing that was different, though, was a recent announcement from its subsidiary partnership, Valero Energy Partners , that shows a change in strategy.
US auto sales seen lower in January; GM, Ford post declines
General Motors’ sales fell 3.8 percent from last January, while Ford’s sales were down 1 percent. Nissan’s sales rose 6 percent thanks to strong truck and SUV sales.
U.S. Jan. Auto Sales Seen Down 3%, but Industry Still Rolling
Automakers on Wednesday are likely to report a 3% decline in U.S. auto sales for January after a surprisingly strong December stole some thunder from the start of the new year, industry analysts and economists said. Still, with December’s good showing pulling sales from January, normally the weakest month of the year in terms of sales volume, some analysts cautioned against putting too much emphasis on the month’s annualized selling rate.
Synergy Pharma Stock Sinks 12.5% After Announcement Of Common Stock Offering
Synergy Pharmaceuticals Inc. shares sunk 12.5% in pre-market trade Wednesday after the company said it would offer 20 million shares of its common stock at $6.15 per share. Synergy shares were priced at $7.07 as of Tuesday’s close.
Standard Motor Raises Quarterly Dividend To 19 Cents a Share From 17 Cents
Standard Motor Products Inc. said Wednesday it is raising its quarterly dividend to 19 cents a share from 17 cents.
The Single Most Important Thing Silver Wheaton Has to Prove in 2017
The precious metals downturn provided Silver Wheaton with a massive opportunity to invest when gold and silver miners were weak. Now that gold and silver prices are heading higher, though, its development projects will likely take center stage.
Should Marijuana Stocks Fear Supreme Court Nominee Neil Gorsuch?
It’s been a whirlwind week-and-a-half since Donald Trump took office. In his first 10-1/2 days, Trump has issued more executive orders and proclamations than any other modern-day president.
Pacific Biosciences: A Small Cap Gem in the Genomics Market
Share dropped a whopping 44% in a single day in mid-December, though they’ve since recovered roughly 22%. at the J.P. Morgan Healthcare Conference ? Or is the recent rise a signal that PacBio is turning a corner? It’s time for a closer look.
Long layover? How about a workout at an airport gym?
In this Jan. 30, 2017 photo, ROAM Fitness CEO Cynthia Sandall poses inside the soon-to-be-open ROAM Fitness gym at Baltimore-Washington International Thurgood Marshall Airport in Linthicum, Md. Working out while waiting for your flight will soon be … an option at BWI, where the only gym at a U.S. airport past security will open this week, with plans for 20 more at airports by 2020.
Is a Super Bowl Ad Really Worth $5 Million?
The Super Bowl delivers advertisers a stunningly large audience watching live along with the added value of the rating, analysis, and dissection of each ad before as well as after the game. Last year’s game, when the Denver Broncos beat the Carolina Panthers, drew 111.9 million viewers, according to Nielsen .
GateHouse Media buys Dix Communications newspaper chain
The Dix Communications newspaper chain, with operations in northeastern and east-central Ohio, has been sold to GateHouse Media for $21.2 million. Dix Communications operations include a printing facility in Wooster and more than 30 daily and weekly newspapers, online-only publications and specialty publications.
ExxonMobil’s Earnings Slip on a Rare Writedown
That changed this past quarter when the company took a $2 billion hit to the bottom line. Despite that large asset charge, ExxonMobil’s results weren’t all that bad.
Electrolux sees Q4 jump, weak South American market
Swedish home appliance maker Electrolux has reported a jump in fourth-quarter profits and a slight increase in sales, but cautioned about a weak market in South America hitting its earnings. The world’s second-largest appliance maker after U.S. rival Whirlpool, Electrolux said net profit for the period was 1.3 billion kronor , up from a 393 million kronor deficit a year earlier.
Could Uber’s Brutal Backlash Derail an IPO This Year?
Over the last few days, Uber has undergone a public pummeling. The hashtag “#DeleteUber” has been shared thousands of times on Twitter , including by some high-profile celebrities.
Apple Supplier Shares Largely Flat After Earnings
Apple Inc.’s earnings beat Tuesday and subsequent stock gains did not appear to be carrying over to its suppliers Wednesday. While shares of Apple were up 5% in premarket trade Wednesday, shares of Micron Technology Inc. , a semiconductor company, were up 1%.
Anthem CEO says weighing 2018 participation in Obamacare plans
Anthem Inc. Chief Executive Officer Joseph Swedish on Wednesday laid out a list of short-term changes designed to stabilize the market as the new Republican administration and Congress seek to change Obamacare. Swedish said the changes, including tighter enrollment rules on the exchanges, are needed as the company determines to what extent it will participate in the exchanges in 2018.
Indian government cuts taxes, pledges to boost rural economy
Indian laborers work at a flyover construction site in Jammu, India, Wednesday, Feb.1, 2017. India’s finance minister Wednesday pledged relief for middle class taxpayers and small and medium-sized companies while planning billions of dollars in spending to double farmers’ incomes over the next five years and improve the country’s ramshackle infrastructure and provide cheap homes to people.
Rights group says Philippine killings are extrajudicial
Amnesty International campaigner Wilnor Papa, left, gestures during a video news conference with their London counterpart Rachel Chhoa-Howard and Sis. Maria Vida Cordero, right, in suburban Quezon city, northeast of Manila, Philippines.
Premier League teams spent $270M on signings in January
Burnley’s Joey Barton, right, and Michael Keane, centre battle for the ball in the air with Leicester City’s Wilfred Ndidi during the English Premier League soccer match between Burnley and Leicester City, at Turf Moor, in Burnley., England, Tuesday Jan. 31, 2017. less Burnley’s Joey Barton, right, and Michael Keane, centre battle for the ball in the air with Leicester City’s Wilfred Ndidi during the English Premier League soccer match between Burnley and Leicester City, at … more Crystal Palace’s new signing Patrick van Aanholt runs during their English Premier League soccer match against AFC Bournemouth at the Vitality Stadium, Bournemouth, England, Tuesday, Jan. 31, 2017.
Growth in UK house prices weakens, Nationwide says
Annual UK house price inflation fell to its weakest level since November 2015 in January, according to mortgage lender Nationwide. The 0.2% rise in house prices last month was down from a 0.8% rise in December, although that left prices 4.3% higher than at this time in 2016.
VW, Robert Bosch Agree to Pay $1.6B to Settle U.S. Diesel Claims
Volkswagen has agreed to pay at least $1.26 billion to fix or buy back nearly 80,000 polluting 3.0 liter diesel-engined vehicles — and could be forced to pay up to $4.04 billion if regulators don’t approve fixes for all vehicles, court documents filed late Tuesday showed. In December, VW said it had agreed to buy back 20,000 vehicles and expected to fix another 60,000.
Volkswagen to pay at least $1.2 billion for bigger diesels
Volkswagen has agreed to pay at least $1.2 billion in buybacks and compensation to settle claims from U.S. owners of cars with larger diesel engines rigged to cheat on emissions tests. The proposed settlement filed late Tuesday in U.S. District Court in San Francisco covers some 75,000 Audi, Volkswagen and Porsche cars with 3.0-liter diesel engines.
HK Shares Ease After Long Holiday, Trump Policies Pressure
Hong Kong stocks eased on Wednesday as traders returned from a long holiday and caught up to losses in overseas markets amid growing worries over the policies of U.S. President Donald Trump. The benchmark Hang Seng index trimmed earlier losses and ended 0.18 percent down at 23,318.39 points in the first day of trading since Friday.
Sylvester Stallone’s ‘Escape Plan 2’ Set as China Co-Production
Arnold Schwarzenegger is in talks to return for the sequel, which will be co-produced by Emmett/Furla/Oasis and Beijing-based Leomus Pictures. Beijing-based Leomus Pictures and Emmett/Furla/Oasis have partnered to co-finance and make the film as a China-U.S. co-production.
BT Board Jumps In to Purchase Stock After 21 Percent Decline
BT Group Plc directors and their relatives bought more than $700,000 of its stock Monday and Tuesday, providing a vote of confidence in the former British telecommunications monopoly one week after it suffered a 21 percent drop. The purchases, totaling more than 185,000 shares, were led by Anthony Ball, the former BSkyB chief executive officer and current BT board member, who bought 70,000 shares, and relatives of Chairman Mike Rake and audit & risk committee chairman Nick Rose, who bought 90,000 shares combined, according to a regulatory filing Tuesday.