- U.S.News & World Report•11 hours ago
The Ugly Truth About Retirement Savings Shortfalls
A new study notes the U.S. retirement savings shortfall is worse than even the most pessimistic onlookers may think. The study by the National Institute on Retirement Security, using data from the U.S. Federal Reserve, shows that retirement savings "are dangerously low" and that the U.S. retirement savings deficit is between $6.8 and $14 trillion. Worse, the median retirement account balance is $3,000 for all working-age households and $12,000 for near-retirement households, the study reports.
Business Insider•11 hours agoRipple’s XRP cryptocurrency is plunging
Ripple's XRP, the third largest cryptocurrency by market cap, slumped as much as 20% Monday morning as all three of the world’s largest digital tokens came under pressure. XRP is currently trading at $2.32, according to data from Markets Insider, and
- Business Insider•7 hours ago
GoPro cuts over 250 jobs and reduces its CEO's cash pay to $1 in huge restructuring plan (GPRO)
The action-camera maker said it would lay off more than 250 workers worldwide, exit the drone business, and reduce CEO Nicholas Woodman's 2018 cash pay to $1. The company also lowered its fourth-quarter revenue forecast.
Reuters•13 hours agoBitcoin is an asset, not a currency: Israel's central bank
Israel's central bank said on Monday it would not recognise virtual currencies such as bitcoin as actual currency and that it was difficult to devise regulations to monitor the risks of such activity to the country's banks and their clients. Deputy Governor Nadine Baudot-Trajtenberg said there had been public complaints Israeli banks were making it difficult for some customers to transfer money from their accounts to buy bitcoin. Other central banks faced the same problem.
Reuters•7 hours agoBerkshire may get $37 billion book value boost from U.S. tax cuts - Barclays
Book value, a key performance measure for Buffett reflecting assets minus liabilities, probably rose by 12 percent in the final quarter of 2017 because Berkshire can lower its tax bill on investments that have risen in value, Barclays analysts led by Jay Gelb wrote.
- barrons.com•10 hours ago
“Stable Dividend” Means CenturyLink Isn’t a Sell
CenturyLink (CTL) had a tough 2017, and the stock has fallen more than 32% in the past 12 months. However, Goldman Sachs believes that the worst may be over for the beleaguered wireline firm. Analyst Brett Feldman and his team upgraded the shares from Sell to Neutral on Monday, although he also lowered his target price from $19 to $17. He writes that he doesn't see additional downside for the stock, while it could deliver as much as a 13% total return, given its hefty 12.6% yield. Feldman believes that the dividend payout, while high, still looks sustainable and attractive, thanks to synergies from CenturyLink's acquisition of Level 3 Communications. However, he's not quite ready to call the
- CNBC Videos•7 hours ago
Former SEC official: Timing of stock sale by Intel's Krza...
Teresa Goody, Goody Group founder and former SEC official, discusses Intel CEO Brian Krzanich's sale of stock ahead of the revelation of a security flaw in the company's high-performance chips.
- Associated Press•yesterday
South Carolina utility won't pay former executives severance
There will be no golden parachutes for executives of a South Carolina utility that's struggling after sticking consumers with higher bills for a failed nuclear reactor expansion. Directors of SCANA Corp. decided against awarding severance packages potentially worth tens of millions of dollars to former chief executive Kevin Marsh and operations chief Steve Byrne, multiple media organizations reported. "This decision is in the unique context of the abandonment and the company's responsibilities to our ratepayers and shareholders," SCANA spokesman Eric Boomhower wrote in email Friday.
Associated Press•8 hours agoRetail workers feel disruption from shifting shopper habits
The retail industry is being radically reshaped by technology, and nobody feels that disruption more starkly than 16 million American shelf stockers, salespeople, cashiers and others. The shifts are driven, like much in retail, by the Amazon effect — the explosion of online shopping and the related changes in consumer behavior and preferences. A Walmart worker dashes in and out of the grocery aisles, hand-picks products for online shoppers and brings them to people's cars.
Bloomberg•12 hours agoBitcoin Is Tumbling Again
Bitcoin slumped as much as 14 percent as the world’s largest cryptocurrency continues to be whipsawed by concerns about regulation and demand from Asia. "The fuss about regulators tightening screws in South Korea is pushing the price of bitcoin,” saidNaeem Aslam, chief market analyst at TF Global Markets in London. China plans to limit power use by some bitcoin miners, people familiar with the matter said last week, a potential challenge to an industry whose energy-intensive computer networks enable transactions in the cryptocurrency.
Reuters•6 hours agoToyota unveils self-driving concept vehicle for rides, deliveries
Toyota Motor Corp announced on Monday a self-driving electric concept vehicle that it will tailor for companies to use for tasks like ride hailing and package delivery, underscoring how automakers are no longer simply building cars but also providing services to go with them. The world's second-biggest carmaker said it plans to begin testing the e‐Palette concept vehicle in various regions, including the United States, in the early 2020s. It will come in three sizes: a bus-sized vehicle, a shuttle and a small delivery vehicle sized to run on sidewalks.
- CNBC Videos•4 hours ago
Now is the time to buy the biggest stock in the market, s...
Carter Worth, Cornerstone Macro, discusses the best time to buy Apple. The “Fast Money” traders weigh in.
- Yahoo Finance•12 hours ago
The biggest misconceptions about bitcoin
The price of bitcoin rose 1,221% in 2017. Here are three of the most common misconceptions about bitcoin. Bitcoin brokerages that are above-board are all licensed in some manner: Coinbase registered as a “money services business” with FinCEN, the Financial Crimes Enforcement Network, while Gemini registered as a “trust” with NYDFS, the New York Department of Financial Services.
- Yahoo Finance•yesterday
Financials, retail, and Washington — What you need to know for the week ahead
In the week ahead, investors will contend with a slow economic and earnings schedule for the first couple days of the week, with small business optimism and job openings data on Tuesday serving as a highlight. On Friday, investors will get December readings on inflation and retail sales along with a flood of earnings from the financial sector, unofficially kicking off earnings season. JPMorgan earnings on Friday will be a highlight for investors as fourth quarter earnings season gets underway.
- BBC News•5 hours ago
Google sued over 'male discrimination'
Google has been accused of discriminating against conservative white men in a class action lawsuit filed by two former engineers. The duo say they want to represent all staff discriminated against due to their "perceived conservative political views, male gender and Caucasian race". His memo argued there were few women in top jobs at the firm due to biological differences in their capabilities. Google has yet to respond to the lawsuit. What else does the lawsuit claim? It says Google's employment practices are illegal, and that they employ illegal hiring quotas to fill posts with women and minorities. It says Google "openly shames" managers who fail to meet goals, even booing them at meetings.
Reuters•5 hours agoAT&T walks away from deal to sell Huawei smartphones - WSJ
AT&T declined to comment. In a statement, Huawei spokesman Charles Zinkowski said the company would announce new products for the U.S. market on Tuesday "including availability" but did not give further details.
Reuters•3 hours agoIPhone addiction may be a virtue, not a vice for investors
Apple Inc investors are shrugging off concerns raised by two shareholders about kids getting hooked on iPhones, saying that for now a little addiction might not be a bad thing for profits. Hedge fund JANA Partners LLC and the California State Teachers' Retirement System (CalSTRS) pension fund said on Saturday that iPhone overuse could be hurting children's developing brains, an issue that may harm the company's long-term market value.
The Street•12 hours agoJust How Much Juice Can We Get Out of Nvidia? Market Recon
Many of you took the 2017 ride to victory in Nvidia (NVDA) . I did as well. We are not smart, or elite, but among the many. The chart, the performance of the industry, the performance of the entire sector tells us that. Though, to our credit, most of us did not screw up this chance to realize large gains. Not that I didn't try, to be honest. The question now becomes this: Just how much juice can we still get out of this thing? I am sure it's not lost on any of us just how kind the last four business days have been. Let's see if a glance at the charts tells us anything. We'll take this thing back to June, as that was the last major selloff in the name prior to the one just experienced. Apple,
- Bloomberg•10 hours ago
Seagate, Western Union Surge on Speculation of Stakes in Ripple
First it was Western Union Co. investors who got ripple fever. Now its stockholders of Seagate Technology Plc who are cashing in on speculation that the firm has ties to one of the hottest digital coins. Shares of Seagate, the largest maker of computer drives, are surging after a little-followed blog contributor suggested the company may have a stake in Ripple, the company behind the third-most-valuable cryptocurrency. The stock’s rally comes just days after Western Union was the subject of similar Internet conjecture. “Seagate may own over 4% of Ripple,” wrote ValueStreet Research, a Seeking Alpha contributor with fewer than 100 followers, in a post Monday. “If Seagate still has its Ripple
- Oilprice.com•yesterday
China Is About To Shake Up Oil Futures
Additionally, Levison warns Washington that besides serving as a hedging tool for Chinese companies, the contract will aid a broader Chinese government agenda of increasing the use of the yuan in trade settlement... and thus the acceleration of de-dollarization and the rise of the Petro-Yuan. China has been planning this for a number of years and given rising tensions, now seems like a good time for China to flex a little. The Shanghai International Energy Exchange, a unit of Shanghai Futures Exchange, will be known by the acronym INE and will allow Chinese buyers to lock in oil prices and pay in local currency. Also, foreign traders will be allowed to invest -- a first for China’s commodities markets -- because the exchange is registered in Shanghai’s free trade zone.
- Zacks•13 hours ago
The Zacks Analyst Blog Highlights: ExxonMobil, Chevron, Marathon Oil, Anadarko and Occidental Petroleum
Stocks recently featured in the blog include ExxonMobil XOM, Chevron CVX, Marathon Oil Corp. MRO, Anadarko Petroleum Corporation APC and Occidental Petroleum Corp. OXY. Meanwhile, some of the biggest gainers of the S&P 500 during the period were oil and oil-related stocks like Marathon Oil Corp. and Anadarko Petroleum Corporation.
- MarketWatch•17 hours ago
Bitcoin pulls back further from $17,000
The price of a single bitcoin continued to back away from the $17,000 level it reached over the weekend, as previously highflying cryptocurrency Ripple coins lost further ground. On Monday, the bitcoin spot price BTCUSD, -5.02% BTCUSD, -5.02% was down around 2% at $15,856.55, having hit around $17,135 on Saturday, according to CoinDesk. Bitcoin futures for January BTCF8, -7.02% on the CME were changing hands at $15,875, a 4.5% drop from Friday’s settlement. On the CBOE, futures XBTF8, +12.21% were changing hands at $15,960. The price of another cryptocurrency, Ripple coins, which surged 150% at one point last week, also continued to pull back. It was changing hands at $2.62 for a single coin
Reuters•5 hours agoGoPro says open to sale but not actively pursuing
The comments followed reports by several media outlets, including Reuters, that GoPro had hired J.P. Morgan to help it with a sale process, as the one-time Wall Street favorite battles falling demand for its sports cameras and drones. The company's shares, which fell as much as 33 percent to a record low of $5.04 on Monday, recouped some of their losses after the sale talks were first reported by CNBC.
- Bloomberg•10 hours ago
Berkshire to Reap Estimated $37 Billion Bump From U.S. Tax Cut
Berkshire Hathaway Inc. is poised to report a huge increase in the yardstick that Warren Buffett uses to measure progress at his conglomerate, thanks to the recent changes in U.S. tax law. Book value, a measure of assets minus liabilities, probably rose by 12 percent or $37 billion in the final three months of the year, analysts from Barclays Plc wrote in a note to clients on Monday. The one-time increase will result from Berkshire lowering its tax liability on appreciated investments.
Associated Press•5 hours agoGoPro expects revenue slump, slashes workforce
GoPro is cutting staff and expects a sharp decline in fourth-quarter revenue after facing weak demand for cameras during the holiday season. The disappointing outlook sent shares plummeting nearly a third to an all-time low of $5.04 in morning trading Monday. It is also cutting its workforce by more than 20 percent to fewer than 1,000 employees.
