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Category: Business News
Carson compares immigration to America to slavery
Housing a Urban Development Secretary Ben Carson shares a laugh with his wife Lacena “Candy” Carson as they are introduced to speak to HUD employees in Washington, Monday, March 6, 2017. Housing a Urban Development Secretary Ben Carson shares a laugh with his wife Lacena “Candy” Carson as they are introduced to speak to HUD employees in Washington, Monday, March 6, 2017.
As president, Trump seeks answers on his own wiretap mystery
White House Press secretary Sean Spicer walks out of the West Wing of the White House in Washington to speak with members of the media, Monday, March 6, 2017. White House Press secretary Sean Spicer walks out of the West Wing of the White House in Washington to speak with members of the media, Monday, March 6, 2017.
Rates on US Treasury bills rise to highest level in 8 years
Interest rates on short-term Treasury bills rose in Monday’s auction to their highest levels in more than eight years. The Treasury Department auctioned $30 billion in three-month bills at a discount rate of 0.745 percent, up from 0.515 percent last week.
Snowbirds may soon be allowed to stay 8 months in U.S., but risk losing provincial health benefits
Canadians Gilles Dupont, left, and Monique Dupont sit in the sun, in Dania Beach, Fla. A bipartisan bill currently before the U.S. Congress would allow Canadians over the age of 55 to stay south of the border for up to eight months of the year.
Snap drops 12% to close below Thursday’s open price
Snap has fallen below Thursday’s opening price, losing 12 per cent on Monday as analysts issued ‘sell’ ratings on the owner of messaging app Snapchat. Shares in Snap , which went public three days ago, closed at $23.77 , below its $24 opening price on the New York Stock Exchange.
IBM, Salesforce Announce AI Partnership
Salesforce and IBM have agreed to a partnership allowing both companies easier use of access to the other’s software. IBM and Salesforce have agreed to a partnership which gives Salesforce customers easier access to data from IBM’s Watson artificial intelligence program.
Amazon Is Pulling Out All the Stops Against Apple and Google in High-Stakes Voice Assistant Wars
Although Apple and Google’s voice assistants are shipped with far more devices, Amazon’s Alexa has become a formidable rival thanks to big investments and a swelling ecosystem. As much as Amazon’s Echo home speaker/voice assistant has turned into a surprise hit and yielded a blizzard of positive media attention, the Alexa voice assistant powering Echo hardware is still in key respects at a strategic disadvantage compared to rival offerings from Alphabet /Google , Apple , and Microsoft’s .
Can Under Armour Get Back in the Game?
If Under Armour , shareholders didn’t have bad luck, they wouldn’t have any luck at all. UAA shares are down around 30% year to date and more than 50% in the last 12 months.
Bears Are Growling, but Dip Buyers Are the Problem
The pattern of morning weakness and afternoon strength continued today, but the indices finished in the red and underlying weakness was worrisome. Breadth was worse than 3-to-1 negative at one point and was still worse than 2-to-1 negative at the close.
FCC Halts New Data Security Rules; Broader Repeal of Protections on Tap
WASHINGTON Reporters and analysts say the move by the Federal Communications Commission last week to halt new government rules related to data security from taking effect could mean a broader repeal of privacy protections for high-speed internet users. After a 2-to-1 party-line vote by the Republican-led commission, Ajit Pai, the chairman, announced last week that part of the privacy rules passed in October would be temporarily stayed.
Liberty Media CEO Says He’s Not Done Acquiring Assets
Greg Maffei also told investors he didn’t expect the Trump administration to bring in corporate tax reform any time soon. Despite his recent acquisition of Formula One, Liberty Media CEO Gregory Maffei on Monday said he’s not done acquiring new entertainment assets.
Wall St Dips on Trump Tumult, North Korea Action
U.S. stocks pulled back on Monday in a broad decline as investors grew uneasy over the latest tumult surrounding the Trump administration and geopolitical tensions emanating from North Korea. The S&P 500 has rallied about 11 percent in the wake of President Donald Trump’s victory in November, with investors betting on the implementation of reduced regulations, lower taxes and increased infrastructure spending.
Trump Cheers Exxon’s Plan to Create 45,000 Jobs
Exxon Mobil will spend $20 billion by 2022 to expand its footprint along the U.S. Gulf Coast, creating more than 45,000 jobs. The world’s largest publicly traded oil company said Monday it will invest in refining and chemical-manufacturing projects at 11 proposed and existing sites, located in Texas and Louisiana.
Snap Slumps 12%, Closes at Lowest Since IPO
Shares of Snap Inc slumped 12 percent on Monday and closed at their lowest level of the three sessions since the Snapchat owner’s soaring market debut last week. The $3.4-billion listing last Thursday was the hottest technology offering in three years, but the loss-making company’s lofty valuation and slowing user growth have raised eyebrows on Wall Street.
Oil Whipsaws as Output Seen Rising, More OPEC Cuts Discussed
Oil prices whipsawed on Monday, with benchmark Brent rising and U.S. crude easing slightly, after the market pushed higher early in the day on the Iraqi oil minister’s comments that cuts might persist into the second half of the year. Output forecasts from oil ministers of crude-producing countries buffeted the market as industry leaders gathered at the annual CERAweek energy conference in Houston.
GM to Take on $3 Billion in Debt to Fund Pensions Moved to Peugeot
General Motors Co. expects to raise about $3 billion in debt to fund pension obligations it plans to transfer to Peugeot SA as part of the sale of its European business, said finance chief Chuck Stevens.
Snap Tumbles for First Time Since IPO as Analysts Say Sell
After a euphoric public market debut, Snap Inc. shares dropped for the first time in three days after analysts began weighing in with their thoughts on the company’s true valuation. The parent company of disappearing-photo app maker Snapchat priced shares in its initial public offering last Wednesday and they surged 44 percent on the first day of trading.
Marathon’s $89,000 Drug May Exploit Patients, U.S. Senators Say
Marathon Pharmaceuticals LLC is facing added criticism over the $89,000 price tag on its drug for a rare muscle disorder as a group of eight U.S. lawmakers said they’re concerned that it “exploits” patients. In a March 3 letter to Marathon Chief Executive Officer Jeffrey Aronin, seven Democratic U.S. senators and one independent demanded information on the closely held drugmaker’s pricing practices and product development costs for Emflaza, used to treat lethal Duchenne muscular dystrophy.
Trump Issues Revised Travel Ban to Address Legal Challenges
President Donald Trump signed an order restricting entry into the U.S. by people from six predominantly Muslim countries, reviving a signature initiative that stalled in the face of court challenges, sparked global protests and prompted dissent by some of his advisers. The directive takes effect March 16 and removes Iraq from an initial list of seven countries whose citizens cannot travel to the U.S. for the next 90 days.
Canada Flagged by Bank of International Settlements
The BIS has flagged Canada for having vulnerabilities connected to credit, property prices and the prospect of rising interest rates. The Bank for International Settlements has issued a warning to Canada regarding a potential financial crisis and national banking risks.
Survey: Consumers Aren’t in Love With Connected Home Solutions
Outside of early adapters, connected in-home devices are not catching on with consumers, according to a survey of 10,000 users in the U.S., UK, and Australia, conducted by Gartner. The results indicated that 10% of households across the polled regions have a connected home device.
5 Earnings Plays That Could Squeeze the Shorts
Short-sellers hate being caught short a stock that reports a blowout quarter. When this happens, we often see a tradable short squeeze develop as the bears rush to cover their positions.
Putting Signet Stock Under the Jeweler’s Loupe
Shares of Signet Jewelers have certainly lost their luster, down 31% just this year. As the company gets set to report results on March 9 shareholders should be used to disappointment.
If Your Property Tax Is Sky-High, Challenge It. Here’s How
Fight city hall on unfair property taxes. Here are proven ways to reduce your annual bill by challenging an excessive assessment.
Don’t Count on Political Windfalls for Refiners
As investors, we’ve settled on focusing on well-run independent U.S. shale producers for the core of our holdings, especially those in the Permian basin. Although the oil markets seem to be stuck right now between $51-$55, these names have continued to hold their own and advance slightly.
Telecom giants can finally stop caring about protecting your data
For a brief moment, the personal data you gave to Verizon, AT&T and Comcast was protected from their corporate whims. But last week, new Republican Federal Communications Commission Chairman Ajit Pai suspended customer privacy protections put in place under the last FCC administration just last year.
Nintendo Switch Review: Past And Future In Equal Measure
I’ve been agonizing over what to say about my time with the Nintendo Switch since the first reviews went up. On one hand, the hardware is a marvel of modern mobile architecture, running console-grade games for hours on a battery charge.
Oil Whipsaws as Production Seen Rising, More OPEC Cuts Discussed
Oil prices whipsawed Monday, turning negative after the International Energy Agency forecast potential shale oil growth and waning European refined product demand, which bodes poorly for global efforts to remove a glut. In a session driven by headlines, oil earlier strengthened slightly after Iraq’s oil minister said the Organization of the Petroleum Exporting Countries would likely need to extend its production cuts into the second half of 2017.
The Marijuana Industry Has Some Brand-New Opposition
The marijuana industry has been practically unstoppable this decade. Just this past year alone, five states legalized medical cannabis , while the number of recreational weed states doubled to eight.
IBM, Maersk in Blockchain Tie-Up for Shipping Industry
IBM and Danish transport company Maersk said they were working together to digitize, manage, and track shipping transactions using blockchain technology. The technology, which powers the digital currency bitcoin, enables data sharing across a network of individual computers.
Costco Is Quietly Becoming a Digital Player
In its 2017 first fiscal quarter, which covered the 2016 holiday season, Galanti noted that while overall digital sales had risen by 7% year-over-year, the numbers during the Black Friday period were much better. During the week of Thanksgiving and the two that followed, he said, digital sales had risen by the low-to-mid teens.
10 Tax Breaks Every Parent Needs to Know
Starting a family isn’t cheap. According to a report issued by the Department of Agriculture in early January, a middle-income married couple with two children is estimated to spend $233,610 to raise a child born in 2015.
Get Started: Borrowing slows in January as owners take break
Although small business owners say they’re more optimistic, they’re still being cautious when it comes to borrowing. Thomson Reuters and PayNet, which track loans and leases taken out by small companies, say their small business lending index fell 8 percent in January from 134.0 in December.
Peugeot Doubles Down on Europe as GM Cuts Loss in Opel Sale
PSA Group is betting that size is the answer in Europe’s saturated car market as it buys General Motors Co.’ s ailing regional division despite years of losses.
Samsung Delays Release of Galaxy S8, S8+
Samsung has delayed the release date for its Galaxy S8 and S8+ smartphones by one week, according to VentureBeat . The phones are scheduled to go on sale globally on April 28, and not April 21 which was the original reported date.
Deutsche Bank Turnaround Plan Receives Mixed Investor Review
Deutsche Bank AG Chief Executive Officer John Cryan needs to convince investors he’s finally on the right track after tearing up his own turnaround plan just 17 months into the revamp. Reaction so far to his about-face — which includes an $8.5 billion rights offering, selling part of the asset-management business and reintegrating the consumer-banking unit — has been mixed.
Is a CEO Worth $200 Million? Shareholders at Rail Giant Think So
Is superstar railroad executive Hunter Harrison worth a $200 million pay package? For that matter, is any CEO worth that? The question has arisen in a shareholder activist’s campaign to shake up CSX Corp., one of North America’s major railroads. To sway investors and board members, Paul Hilal has promised to install Harrison as the company’s chief executive officer.
China May Cut, Delay Electric Car Production
China may dial back or delaying proposed measures aimed at pushing automakers to produce more electric cars, after industry feedback that the targets are overly ambitious, Bloomberg reported.
CSX Could Name Former Canadian Pacific Head as New CEO This Week
CSX could name former Canadian Pacific Railway chief Hunter Harrison as its new CEO as early as this week, according to Bloomberg . Harrison would begin as soon as possible under a four year contract, just months after he left Canadian Pacific in January.