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Category: Business News
Prosecutors: FBI agent leaked info in trading case to media
Federal prosecutors say an FBI agent has acknowledged divulging confidential information to reporters about the investigation into an alleged insider trading scheme. The Las Vegas Review Journal reports that prosecutors in New York told a federal judge by letter Friday that the unnamed agent confessed to be a source for The Wall Street Journal and The New York Times regarding the case involving Las Vegas gambler William “Billy” Walters.
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Micron’s stock has risen more than 40% so far in 2016, easily outpacing the Nasdaq ‘s 8% return. However, since the end of the dot-com bubble sell-off around the start of 2003, a far more important long-term pattern has emerged that anyone considering investing in Micron ought to consider: have also underperformed the tech-heavy Nasdaq, Micron shares have performed slightly worse than Intel while also proving far more volatile in the process.
3 Reasons Wynn Resorts, Limited Stock Could Rise
However, trading now at around $92, shares are still down drastically from over $250 in 2014. Here are three reasons the bull run the stock has been on in 2016 could continue.
Wanxiang Gets China Electric Vehicle Permit to Make Karma Cars
Wangxiang Group, the owner of Karma Automotive, became the second auto-parts maker to receive permission from the nation’s top economic planner to produce electric cars under a special scheme to encourage companies outside auto manufacturing to develop new-energy vehicles. Founded by Chinese billionaire Lu Guanqiu, Wanxiang Group got approval from the National Development and Reform Commission to invest in facilities to manufacture extended-range electric vehicles with annual capacity of 50,000 units, according to a notice on the agency’s website on Friday.
The S&P in 2017: What to Expect
What’s the S&P 500 going to do in 2017? It’s a question we’d all love the answer to, as it can inform financial decisions we make throughout the year. If it’s going to drop, for example, we might want to sell some or many holdings now.
Highlights From Ford Motor Company’s Biggest Mystery Market: Europe
Initially, the company burned through billions in cash until business bottomed out and then years of slow but sure progress followed. Then last year Ford finally broke through with a full-year profit and investors were certain it was going to be sunshine and rainbows from then on.
The Bulls Party Hardy, but a Hangover Looms in 2017
Stocks are positioned for a fall, as investors bid farewell to the Fed’s punch bowl. Here are the key signals to watch in the week ahead.
Online Trading Account Comparison: Merrill Edge vs. Charles Schwab
It wasn’t all that long ago that orders had to be placed by phone, and each buy and sell carried a very steep commission. Today, online trading accounts from modern brokerages offer more bells and whistles — research, international stocks, and more — at a fraction of the cost.
How Pandora Fell From 1 of the First Players in Music Streaming to 1 of the Last
In this clip from Industry Focus: Tech , Motley Fool analysts Dylan Lewis and David Kretzmann take a look at Pandora’s less-than-spectacular 10-year run in the streaming business, how its competition became so incredibly difficult to face off against, and why it’s going to be so hard for Pandora to recover its edge. 10 stocks we like better than Pandora Media When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen.
2 More Insights From Apple Inc.’s Job Boards
Apple, like most major companies, doesn’t divulge too many specifics on the projects that it’s working on in these listings. Nevertheless, it’s not hard to get some sense of what broad themes and ideas the company is investing in by carefully observing these listings.
Monte Paschi Said to Start Taking Orders for Shares on Monday
Banca Monte dei Paschi di Siena SpA will begin taking orders for shares as soon as Monday as it aims to complete raising 5 billion euros of capital before Christmas, people with the knowledge of the matter said. Monte Paschi will attempt to sell stock through Thursday, said the people, who asked to not be named because the plan isn’t public yet.
Motley Fool Answers Shares Its “Maintain, Don’t Gain” Holiday Tradition
On this episode of Motley Fool Answers , the cast turns their attention to investor health beyond retirement accounts and stock holdings. Instead, they welcome the Motley Fool’s chief wellness officer Sam Whiteside onto the show, as she shares some important tips with listeners on how to make healthier choices amid the many temptations that accompany the holiday season.
The Latest: Official: 3 reports of dirty water before ban
A top Corpus Christi official says there were three reports of dirty water before the public was told this week of a chemical leak into the water system. Assistant City Manager Mark Van Vleck said Saturday that the city first received a “dirty water report” Dec. 1 from the Valero-owned administration building at the asphalt plant leased to Ergon Asphalt and Emulsions.
Better Buy: NVIDIA Corporation vs. Broadcom
As we hurdle toward the finish line, 2016 will go down as a uniquely active year in the semiconductor market. Spurred on by the onset of several generational tech trends — the Internet of Things , artificial intelligence, self-driving cars, and the like — major semiconductor companies have gone on a buying spree to prepare them to cash-in on this growth.
5 Year-End Tax Moves You Need to Make
Though you have until mid-April of 2017 to file your 2016 taxes, now’s the time to start thinking about what that return might look like. Whether you’re worried about owing taxes or want to increase your refund, here are a few moves to make before 2016 comes to a close.
Vanguard vs. Interactive Brokers: Comparing Top Discount Brokers
Making your first investment is as easy as it has ever been, but you’ll need to open a brokerage account to buy stocks, funds, and other investment products. Vanguard and Interactive Brokers are two commonly used online discount brokers that bring Wall Street right to your computer or mobile device.
Netflix Offline Viewing Does More Than Satisfy Subscriber Demand
In this segment of Industry Focus: Consumer Goods , Vincent Shen is joined by Fool.com contributor Daniel Kline as they discuss the recent news that Netflix will be rolling out part of its massive content library for offline viewing and what it means for the company. 10 stocks we like better than Netflix When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen.
Can Vector Group Ltd.’s Dividend Even Survive?
Many income investors are drawn to stock with high yields. But as I discussed in a recent article, the yield should never be prioritized above a company’s earnings growth, free cash flow, and payout ratios.
Better Buy: Nike Inc vs. Under Armour Inc
Just over a week ago, fellow Fool Joe Tenebruso — who has an excellent track record with his investments — wrote an article with the exact same title. In it, he concluded that Under Armour .
China to Return Seized U.S. Drone
China’s Defense Ministry said on Saturday it plans to return an underwater U.S. drone seized this week by a Chinese naval vessel in the South China Sea, but complained the United States was “hyping up” the incident. The drone was taken on Thursday, the first seizure of its kind in recent memory.
BusinessAviationVoice: Finding Opportunity in Creative Disruption
Here’s a prediction for 2017: more private jet charter operators-eager to tap into the “democratization” of business aviation-will announce partnerships with commercial airlines who are demonstrating more imagination of their own in developing new revenue sources. Several months ago, JetBlue Airways made a minority equity investment in JetSuite, helping to fuel its fast growing JetSuiteX service.
For Whom Does the Bond Bell Toll?
After a long, hard summer for Treasury bonds, which resulted in a 30-handle slide in price since July , the question needs to be asked: For whom does the bell toll — bulls or bears? We asked this question in July as T-bonds were reaching overbought extremes, which turned out to be in the same week as the all-time high. This chart updates the one from July’s major sell signal.
General Dynamics Strikes a Deal in Peru
Boasting more than 50 main battle tanks and more than 600 armored personnel carriers , Peru’s army looks like a pretty fearsome fighting force — on paper. In fact, it’s more of a paper tiger.
Lufthansa, Etihad to Explore Deeper Links After Code-Share Deal
Deutsche Lufthansa AG and Etihad Airways PJSC of Abu Dhabi agreed to share seat sales in the first step of what could be deeper cooperation between the former adversaries. The two airlines will initially code-share on Etihad’s twice-daily flights linking Abu Dhabi with Frankfurt and Munich, and the German carrier’s services connecting Frankfurt with Rio de Janeiro and Bogota, according to a joint statement on Friday.
Goldman Sees Oil Lower for Longer After Getting a Bump From Cuts
Oil prices boosted by global output reductions will be capped because of new supply before long, according to Goldman Sachs Group Inc. The cuts by OPEC members and nations outside the group, as well as strong demand growth, will probably help curb inventories by next summer, analysts including Damien Courvalin said in a note dated Dec. 16. While the bank raised its oil-price forecasts for the second quarter of 2017, it decreased its crude estimates for 2018 on concern that new production will enter the market. Brent crude, the benchmark for more than half of the world’s oil, has surged since the Organization of Petroleum Exporting Countries agreed Nov. 30 to trim output for the first time in eight years.
Anthem-Cigna Deal Cast by U.S. as Risk to Patients, Providers
Anthem Inc. and the U.S. Justice Department extended their clash over whether the insurer’s planned takeover of rival Cigna Corp. will raise costs, as government witnesses testified Friday that the deal will harm health-care providers and patients. Frank Gorse, a vice president at Patient First, which operates urgent-care centers in the Mid-Atlantic region, said he’s concerned the merger will squeeze providers due to Anthem’s lower payouts, harming patient services.
Oil Rises as Output Cuts Seen Curbing Glut, Dollar Rally Stalled
Oil rose for the first time in three days after the dollar’s advance stalled and attention shifted back to projected production cuts. Futures rose 2 percent in New York.
Swap Group Taps ICE for Panels Ruling $11.5 Trillion Market
The International Swaps & Derivatives Association appointed Intercontinental Exchange Inc. to manage the process for determining when insurance contracts pay out in the $11.5 trillion credit-default swaps market. The trade group is ending its role as secretary for regional committees that make binding decisions for the credit derivatives market.
Ex-BSI Banker Seah Gets Jail for Forgery Tied to 1MDB Case
Yvonne Seah Yew Foong, a former BSI SA private banker, became the second person to be convicted in Singapore’s investigation into alleged money laundering linked to 1Malaysia Development Bhd. Judge Salina Ishak sentenced Seah, 45, to two weeks in jail for aiding in forging documents and imposed a fine of S$10,000 for failing to report suspicious transactions allegedly related to Malaysian financier Low Taek Jho.
How Global Oil Flows Might Look After OPEC’s Supply Shock
OPEC’s quest to end a global crude glut already snapped a two-year slump in oil prices. Now attention is turning to how the group’s surprise decision to cut output will transform international trade flows of the world’s most important commodity.
It’s Time To Start Conducting More Scientific Job Interviews
If hiring managers really want to be fairer and less biased, says one psychologist, they’ll need to cut the chitchat. However the hiring process may be changing, there’s no sign job interviews are going away from it.
Tillerson’s Foreign Prowess Said Aided by Exxon Intelligence Arm
Even before Donald Trump tapped him to be the top U.S. diplomat, Rex Tillerson already had his own State Department. Behind the walls of Exxon Mobil Corp.’s secluded corporate headquarters in suburban Dallas, a little-known intelligence unit works to keep top executives informed on economic, social and political situations around the world so they never walk into a foreign negotiation unprepared.
Deutsche Bank Said Last Lender to Stop Angola Dollar Clearing
Deutsche Bank AG stopped providing dollar clearing in Angola, leaving one of Africa’s biggest oil-producing nations without a lender to supply the service, according to three people with knowledge of the matter. The company ceased dollar clearing for Angola in mid-November, said two of the people, who asked not to be identified because they’re not authorized to speak to the media.
Scaramucci Says Greg Fleming Advising on Possible SkyBridge Sale
Anthony Scaramucci, founder of SkyBridge Capital, says he has a team in place to explore the sale of his firm and discussions with possible buyers are underway. Scaramucci, who serves on President-elect Donald Trump’s transition team, told Bloomberg Television Friday that Greg Fleming, who previously led Morgan Stanley’s retail brokerage, is helping with the sale.
McCormick Said to Be Trump Front-Runner for Defense Deputy
Hedge fund manager and former Army officer David McCormick is the front-runner to serve as President-elect Donald Trump’s deputy defense secretary, according to three people familiar with the presidential transition. McCormick, president of Bridgewater Associates Inc., the world’s biggest hedge fund, was eyed earlier as a possible Treasury secretary, a post that ultimately went to former hedge fund investor Steve Mnuchin.
VW Gets Weekend for – Intense’ Talks on Diesel-Cheating Case
A federal judge said Volkswagen AG has made “substantial progress” toward a settlement to get about 80,000 Audi, VW and Porsche vehicles with emissions-cheating 3.0-liter diesel engines fixed or off U.S. roads. Lawyers for the carmaker, consumers and the Justice Department have assured the court that negotiations are ongoing, but VW may be headed to trial if an agreement isn’t reached.
The Inside Story of Apple’s $14 Billion Tax Bill
“The Maxforce” is the European Union team that ordered Ireland to collect billions of euros in back taxes from Apple Inc., rattled the Irish government, and spurred changes to international tax law. You’d think it might have earned the name by applying maximum force while investigating alleged financial shenanigans.
Deutsche Bank Admits Misleading Clients in Dark Pool Trades
Deutsche Bank AG agreed to pay $37 million and admit to misleading customers about its dark pool stock-trading platforms to settle a joint state and federal probe, bringing the bank a step closer to resolving several potentially costly legal challenges in the U.S. The bank will admit to violating state and federal securities laws over a two-year period by failing to address known technical problems with its proprietary dark-pool ranking model, the U.S. Securities and Exchange Commission and New York Attorney General Eric Schneiderman said Friday. “Misleading and self-serving statements that defraud investors will not be tolerated,” Schneiderman said.
Allianz Said to Consider Bid for Generali’s French Business
Allianz SE, Europe’s largest insurer, is in discussions with Assicurazioni Generali SpA as it weighs a bid for the company’s French operations, according to people familiar with the matter. Allianz executives are uncertain whether a combination with the French insurance business would be approved by regulators, and the companies may not reach a deal, one of the people said, asking not to be identified because the deliberations are private.