- Bloomberg•17 hours ago
Chinese Workers Abandon Silicon Valley for Riches Back Home
A few years ago, Wang Yi was living the American dream. U.S.-trained Chinese-born talent is becoming a key force in driving Chinese companies’ global expansion and the country’s efforts to dominate next-generation technologies like artificial intelligence and machine learning.
Reuters•6 hours agoChina says diversifying FX reserves, warns report on U.S. bonds may be 'fake'
China is diversifying its foreign exchange reserves in order to safeguard their value, the country's currency regulator said on Thursday, while dismissing a media report the government is halting or reducing its purchases of U.S. debt. Bloomberg News reported on Wednesday that Chinese officials reviewing the country's vast foreign exchange holdings had recommended slowing or halting purchases of U.S. Treasury bonds amid a less attractive market for them and rising U.S.-China trade tensions.
- Zacks•22 hours ago
Ethereum and Bitcoin Cash Rise as Other Cryptocurrencies Tumble
The price of both Ethereum—the world’s second-largest cryptocurrency in terms of total market capitalization—and Bitcoin Cash—a so-called “hard fork” of the original Bitcoin—is soaring on Wednesday, despite steep declines in many other cryptocurrencies. According to CoinMarketCap.com, Ethereum has gained about 12.8% over the past 24 hours, while Bitcoin Cash is up about 12.3% over that same timeframe. Meanwhile, Bitcoin has tumbled about 4.0%, Litecoin has shed nearly 2.5%, and Ripple has plummeted more than 16.4%.
Associated Press•10 hours agoImmigration agents descend on 7-Eleven stores in 17 states
Seven immigration agents filed into a 7-Eleven store before dawn Wednesday, waited for people to go through the checkout line and told arriving customers and a driver delivering beer to wait outside. Within 20 minutes, they verified that the cashier had a valid green card and served notice on the owner to produce hiring records in three days that deal with employees' immigration status. The well-rehearsed scene, executed with quiet efficiency in Los Angeles' Koreatown, played out at about 100 7-Eleven stores in 17 states and the District of Columbia, a rolling operation that officials called the largest immigration action against an employer under Donald Trump's presidency.
- 24/7 Wall St.•yesterday
High Oil Prices, the Return of $3 Gas a Threat to the Economy
Crude oil prices are well over $63 a barrel, and some experts believe the next stop is $70. Over the past year, crude prices have been as low as $44, which has kept gasoline prices relatively low. If $70 becomes the new normal for a long period, $3 a gallon gas prices are just behind it.
- CNBC Videos•yesterday
Warren Buffett: We'd buy GE at the 'right number'
Warren Buffett, Berkshire Hathaway chairman and CEO, shares his thoughts on Apple, General Electric and having cash on hand.
Associated Press•2 hours agoSamsung targeted by French lawsuit amid alleged labor abuse
Two French rights groups have filed a lawsuit against electronics giant Samsung, accusing it of misleading advertising because of alleged labor abuses at factories in China and South Korea. It's the latest labor challenge to Seoul-based Samsung, which has faced growing health complaints from workers in recent years, even as profits soar thanks to its blockbuster semiconductor business. The unusual lawsuit filed Thursday in Paris court by groups Sherpa and ActionAid France names Samsung Global in Seoul and its French subsidiary.
- CNBC.com•15 hours ago
Cramer's lightning round: Wait for General Dynamics—it's about to move higher
General Dynamics Corporation: "Look, we can sell and buy Scotts Miracle-Gro, but I actually prefer General Dynamics. General Dynamics, Raytheon and Lockheed Martin, they are all for me. I think you've got a good one. Let's wait. It's about to have another move. That's how it trades: in fits and starts." Irhythm Technologies Inc.: "We have to get them on when we're out in San Francisco. They do heart palpitations. They do a lot of stuff that I was hoping that my watch one day would do, because that's how you stop heart attacks, the most preventable form of death in this country. I like it." Southwest Airlines Co.: "I sold it for the charitable trust, and I've got to tell you, I thought I was so
Business Insider•2 hours agoWalmart is raising wages and issuing bonuses after tax reform (WMT)
Walmart is raising wages and issuing one time bonuses to employees. Walmart said it will raise the starting wage for its employees, and issue one time bonuses up to $1,000, as a direct result of the new US tax plan. Walmart is raising its starting hourly wage to $11, a move that will cost the company $300 million in addition to previously planned wage hikes.
Business Insider•10 hours agoIt looks like Warren Buffett has narrowed his choice for successor down to 2 people
Greg Abel and Ajit Jain — to Berkshire Hathaway's board of directors on Wednesday. The decision is seen as narrowing down Buffett's succession decision to the two individuals, who will now assume broader responsibilities. Warren Buffett's succession plan is coming into focus.
The Street•3 hours agoXerox, Bitcoin, Delta
2. -- Xerox Holdings Deal Talks With Fujifilm Xerox Corp. (XRX) is discussing an array of deals with Japan's Fujifilm Holdings Corp. that may or may not include a change of control of Xerox, The Wall Street Journal reported, citing people familiar with the matter. A full takeover of Xerox, the document company, isn't on the table, one of the people said. No deal appears imminent and one may not be reached, the Journal added. Xerox has struggled because of the drop-off in demand for office printing, and a deal would give both Xerox and Fujifilm a chance to root out costs and make their legacy businesses more efficient, some of the people told the Journal. Xerox has a market value of about $7.7
- Fox Business Videos•2 days ago
Battery technology allows 700-mile range on one-minute charge: Henrik Fisker
Fisker CEO Henrik Fisker on the company's electric car battery technology.
- Puget Sound Business Journal•17 hours ago
Alaska Airlines will reveal new Luly Yang-designed uniforms next week
Alaska Airlines will soon reveal its new couture uniforms to its 23,000 employees. Some 19,000 of the airline’s workforce are uniformed and will wear the new outfits by the end of 2019. They range from pilots, flight attendants, ticketing, lounge and customer service, to ramp and ground service employees. SeaTac-based Alaska Air Group would not reveal the cost, but said it’s on par with previous uniforms. The much anticipated reveal will happen in the late afternoon of Jan. 18 at the Alaska Airline hangar at Seattle-Tacoma International Airport in front of about 2,000 employees. The event will be webcast to all 23,000 employees, showing 35 employee representatives from every uniform work group
- Zacks•yesterday
Maxim (MXIM) & NVIDIA Collaborate on Self Driving Technology
Maxim Integrated Products, Inc. MXIM has entered into a partnership with NVIDIA Corporation NVDA to focus on safety and other important requirements needed for autonomous vehicles.Per the agreement, Maxim's next-generation 6Gbps GMSL SerDes technology
- Fox Business•14 hours ago
Domino's CEO Patrick Doyle dismisses Chipotle rumors
Domino’s CEO Patrick Doyle on Wednesday dismissed speculation that he could join Chipotle Mexican Grill after he retires from his current role later this year. Doyle, who led Domino’s turnaround with a revamped recipe and emphasis on digital sales efforts, said at the company’s investor day meeting that he is not leaving the industry entirely. The 54-year-old executive said he would take a six-month break after stepping down from Domino’s in June to figure out his future.
- Associated Press•yesterday
MSC Industrial misses Street 1Q forecasts
MELVILLE, N.Y. (AP) _ MSC Industrial Direct Co. (MSM) on Wednesday reported fiscal first-quarter net income of $59.6 million. The Melville, New York-based company said it had net income of $1.05 per share.
- Investopedia•yesterday
Don't Retire Early - Change Careers Instead
Ask five people what it means to retire early and you're likely to get five different answers. Some would consider leaving work before age 65 as early retirement, while others would argue that it has to happen before age 45. Regardless of how you quantify “early,” saying adios to work isn't necessarily the solution to a happy and fulfilling mid-life experience. Many people who long for early retirement may have never known true job satisfaction. A better goal for some may be to shoot for a mid-life career change instead of an early retirement. Why People Retire Early Why do people retire early? Sometimes it's unplanned: a layoff, a long-term illness or caring for a loved one. In these cases,
Reuters•2 days agoToyota, Mazda to build $1.6 billion plant in Alabama - sources
The plant, which will employ up to 4,000 people and produce about 300,000 vehicles a year, will be located in Huntsville, Alabama, and is a boon for the state, where Toyota has a large engine plant and an existing network of automotive suppliers. A formal announcement by company and state officials is expected on Wednesday in Montgomery, sources briefed on the matter said.
- CNBC•yesterday
Bond guru Bill Gross signals a new era for Treasury markets
The bond bear market is finally upon us after more than 25 years, bond guru Bill Gross said Tuesday. Thought to be triggered by the Bank of Japan's tapering of bond purchases, his claim is making waves in the investment community and coincides with central banks increasingly moving away from global bond markets. The call was released in a tweet from the account of Janus Henderson Group, Gross's investment firm, saying: "Bond bear market confirmed today.
Associated Press•yesterdayReports: AT&T drops plan to sell Huawei smartphone in US
U.S. telecoms carrier AT&T has dropped plans to sell Chinese brand Huawei's smartphones in the United States, dealing a setback to the No. 3 global phone maker's expansion plans, according to news reports. The Wall Street Journal, which reported the development Tuesday, gave no reason for AT&T Inc.'s decision. Yu told The Associated Press in December the company would announce smartphone sales through a U.S. carrier this week.
- CNBC•yesterday
Buffett partner Charlie Munger says bitcoin, Silicon Valley are bubbles
Warren Buffett's right-hand man, Charlie Munger, blasted the frothiness in venture capital funding and bitcoin. During a phone interview on CNBC's " Squawk Box " on Wednesday, Munger was asked if bitcoin was a bubble. "Yeah sure [on bitcoin] and venture capital, too," Munger replied.
Yahoo Finance•2 days agoHomebuilders and imports — What you need to know in markets on Wednesday
Each of the major stock market indexes are at record highs. With its sixth-straight day of record highs to start the year, the S&P 500 tied a record from 1964 and can set a new kickoff record streak with a positive close on Wednesday. Earnings, meanwhile, will be focused on homebuilders with Lennar (LEN) and KB Home (KBH) both reporting earnings while grocery chain Supervalu (SVU) will also release quarterly results.
Business Insider•9 hours agoCryptocurrency markets are tanking after news of shutdown in South Korea
News of a bitcoin crackdown in South Korea sent the market for digital coins into a tailspin Thursday morning. Reuters reported a day earlier that South Korea has a bill in the works to shut crypto trading. Bitcoin, the largest cryptocurrency, was trading down more than 9% at last check.
- Investopedia•yesterday
Why is Coinbase Not Adding New Currencies Right now?
Last week, when popular digital currency exchange Coinbase announced that it would not be updating its list of cryptocurrencies on offer at this point in time, ripple seemed to deflate. The value of XRP had soared at the end of the year, launching ripple into the number two spot for cryptocurrencies by market cap. On the news from Coinbase, though, XRP saw its value fall once again, dropping back below $3 per coin and causing the digital currency to slip into the third position on the list of largest virtual currencies by market cap. Why is it that Coinbase is not adding any new coins to its list of offerings at this time, particularly when interest in cryptocurrencies is continuing to build?
- The Street•5 hours ago
Global Bond Markets Rebound After China Calls Report on Treasuries 'Fake News'
Global bond markets steadied Thursday, sending U.S. Treasury bond yields and the dollar lower, after officials in China dismissed a report that suggested it could slow or even halt its future purchases of U.S. government debt as "fake news." Bloomberg news reported Wednesday that China was considering a sea-change in its U.S. Treasury investments that could include a shift towards other asset classes amid trade tensions between Beijing and Washington and what it sees as the under-performance of dollar-denominated bonds. China is the world's biggest creditor nation, with foreign currency reveres that top $3.14 trillion and a holding of U.S. Treasuries that is at last $1.89 trillion. However, China's
