Category: Celebrities

Stocks Struggle for Momentum, But Weekly Gains in Sight

U.S. stocks were little-changed in their final trading day before the holidays on Friday, and while indexes remained on track for a positive week, the “Santa rally” that has taken indexes to repeated records appeared to stall with few catalysts to spur buying. While the Dow once again appeared unlikely to pierce through the closely watched milestone of 20,000, the blue-chip index is set to log its seventh weekly gain in a row.

Tiny Stocks Find a Friend in Trump

U.S. equities have been hitting new record highs, with small-cap value stocks and related exchange traded funds leading the broad market rally, after Donald Trump won the presidential elections and bolstered the economic outlook. The benchmark Russell 2000 Index, a widely observed measure of U.S. small-cap stocks, gained about 14% and the Russell 2000 Value Index advanced over 17% since the U.S. presidential elections.

5 China says it will cooperate with Trump but warns on Taiwan

China has warned that ties with the U.S. will likely see new complications and the only way to maintain a stable relationship is by respecting each other’s “core interests.” Foreign Minister Wang Yi’s remarks Thursday appeared to underscore that China’s position on Taiwan is non-negotiable, weeks after President-elect Donald Trump suggested he could re-evaluate U.S. policy on Taiwan.

Trump Summons Contractors to Mar-a-Lago Over Spending

The two largest U.S. defense contractors said Wednesday they would seek to control their costs after President-elect Donald Trump summoned them and a bevy of top Pentagon officials to his Mar-a-Lago resort in Florida to discuss military spending. “We’re trying to get costs down, costs,” Trump told reporters in brief remarks outside the resort after the officers departed.

BofA’s Moynihan Says Businesses Are Friskier After Trump Victory

Bank of America Corp. doesn’t expect Donald Trump’s election to jolt the U.S. economy next year, but its corporate customers are enthusiastic and already seeking funds to expand, according to Chief Executive Officer Brian Moynihan. Mid-sized companies “are friskier, they’re more active,” Moynihan, 57, said in an interview with Bloomberg Television’s David Westin for broadcast Thursday.

Trump Summons Contractors, Officers to Mar-a-Lago Over Spending

The two largest U.S. defense contractors said Wednesday they would seek to control their costs after President-elect Donald Trump summoned them and a bevy of top Pentagon officials to his Mar-a-Lago resort in Florida to discuss military spending. “We’re trying to get costs down, costs,” Trump told reporters in brief remarks outside the resort after the officers departed.

Clinton Ends Up With 2.9 Million More Votes Than Trump

Hillary Clinton received the most votes of any losing presidential candidate in U.S. history, according to the final and certified election results announced late Wednesday. Clinton ended up with 65,844,954 votes compared to Donald Trump’s 62,979,879 , beating the president-elect by 2.9 million votes.

Net Neutrality Rule to Get Scrutiny From FCC Republicans ‘Soon’

Republicans poised to control the Federal Communications Commission next month said they’d revisit the net neutrality regulation “as soon as possible,” laying out plans to address a rule they’ve opposed and that Democrats support. The statement Monday from Commissioners Ajit Pai and Michael O’Rielly indicates that opponents of the rule such as top broadband providers AT&T Inc. and Comcast Corp. may not need to wait for Congress to grapple with the regulation that requires equal treatment of web traffic.

El-Erian Says Sustaining Trump Rally Depends on Germany, China

The global stock surge tied to Donald Trump’s victory in the U.S. has a better chance of enduring if the president-elect can coax nations such as Germany, Japan and China to embrace reforms, said Mohamed El-Erian, Allianz SE’s chief economic adviser. “In order for this Trump rally to be sustained, it’s not just about implementing policies at home,” El-Erian said Tuesday in an interview on Bloomberg Television.

Obama Said to Use 1953 Law to Restrict Offshore Oil Drilling

President Barack Obama is preparing to block the sale of new offshore drilling rights in most of the U.S. Arctic and parts of the Atlantic, a move that could indefinitely restrict oil production there, according to people familiar with the decision. Obama will invoke a provision in a 1953 law that gives him wide latitude to withdraw U.S. waters from future oil and gas leasing, said the people who spoke on condition of anonymity because the decision had not been announced.

Pentagon Refutes Trump on F-35’s – Out of Control’ Costs

Lockheed Martin Corp.’s F-35 fighter jet isn’t spiraling out of control as President-elect Donald Trump has said, according to Pentagon officials preparing to making their case to the new administration. Critics of the Pentagon’s most expensive weapons system ignore the progress made since the program was reset in 2011, when it was six years behind schedule and $13 billion over budget, Lieutenant General Christopher Bogdan, who heads the office responsible for developing and acquiring the fighter jet, told reporters Monday.

Ex-U.S. Attorney Yang Said to Be Trump’s Top SEC Contender

President-elect Donald Trump is considering nominating ex-U.S. attorney Debra Wong Yang to run the Securities and Exchange Commission, positioning her to be the second consecutive former federal prosecutor to lead Wall Street’s top regulator, said a person with direct knowledge of the matter. While Trump and his transition team have spoken with a handful of candidates, Yang is the top contender to be SEC chairman, said the person, who asked not to be named because the incoming president hasn’t announced his pick.

SoftBank Inks First Deal After Trump Talk Spurs 3,000 Jobs

SoftBank Group Corp. Chief Executive Officer Masayoshi Son told President-elect Donald Trump this month he would create 50,000 jobs in the U.S. Money for the first 3,000 positions was announced on Monday. Satellite startup OneWeb Ltd. said it raised $1.2 billion from SoftBank and existing investors, with the Japanese technology company providing $1 billion.

Obama Said to Use 1953 Law to Block Drilling in Arctic, Atlantic

President Barack Obama is preparing to block the sale of new offshore drilling rights in much of the U.S. Arctic and parts of the Atlantic, a move that could indefinitely restrict oil production there, according to two people familiar with the decision. Obama will invoke a provision in a 1953 law that gives him wide latitude to withdraw U.S. waters from future oil and gas leasing, said the people who spoke on condition of anonymity because the decision had not been announced.

Obama Sets Up Water Clash With Mining Rule Trump Opposes

The Obama administration issued new regulations to protect streams and groundwater from coal mining, which congressional Republicans swiftly vowed to reverse. The industry says the U.S. Interior Department’s so-called stream protection rule will strand billions of dollars worth of coal in the ground.

Softbank invests $1bn in space satellite startup OneWeb

Softbank founder Masayoshi Son said it was the “first step” in a pledge made to US President-elect Donald Trump about US investment. Earlier this month Mr Son met Mr Trump and said he would put $50bn into US businesses and create 50,000 jobs over the next four years, Florida-based OneWeb, which is a direct rival to Elon Musk’s SpaceX, is now estimated to be worth around $2.5bn following its latest funding round.

Air Force Cautions Trump Team on Defense Costs

The U.S. Air Force general in charge of the F-35 fighter jet program disputed President Elect Donald Trump’s contention that costs have run out of control, saying the days of price and schedule overruns in development of the new fighter jet largely ended in 2011. Air Force Lt.

Trump Passes 270 Electoral College Vote Count For Presidency

Donald Trump cleared the bar of 270 cast electoral college votes late Monday, putting him on track to become the nation’s 45th president. With 306 electoral college votes pledged in the Nov. 8 election, Trump surpassed the needed 270 votes to secure the presidency following votes cast in Texas, according to a tally by the Associated Press .

Net Neutrality Rule to Get Scrutiny From FCC Republicans – Soon’

Republicans poised to control the Federal Communications Commission next month said they’d revisit the net neutrality regulation “as soon as possible,” laying out plans to address a rule they’ve opposed and that Democrats support. The statement Monday from Commissioners Ajit Pai and Michael O’Rielly indicates that opponents of the rule such as top broadband providers AT&T Inc. and Comcast Corp. may not need to wait for Congress to grapple with the regulation that requires equal treatment of web traffic.

With No Remaining Governors, the U.S. Postal Service Delivers Itself Into Uncharted Waters

You could soon have a legitimate reason for why those cards and packages never got to where they were supposed to go. A governance crisis has put a big question mark on the future of the United States Postal Service just in time for the holiday mail season, which is expected to peak Monday as Americans scramble to send off millions of greeting cards, letters, and packages ahead of holiday shipping deadlines later this week.

FCC Chair Wheeler To Step Down

The Federal Communications Commission is about to get a big shakeup in terms of personnel and quite likely in policy. On Thursday, FCC Chairman Tom Wheeler [seen here], who pushed through controversial rules protecting net neutrality and guarding consumer privacy, announced he will step down from the commission on Jan. 20, the same day that Donald Trump will be inaugurated as president.

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.