Business Insider•7 hours agoRipple's XRP is exploding after announcing a partnership with MoneyGram to speed up transfers (MGI)
MoneyGram has partnered with Ripple to use its XRP cryptocurrency in money transfers. Shares of MoneyGram, the second-largest money transfer company in the world, spiked as much 12.75% Thursday after the company said it had signed a partnership with Ripple to test using the company’s XRP cryptocurrency to improve transfer settlement times and costs. XRP is climbing as well, spiking as much as 14%.
- MarketWatch•7 hours ago
You can return a dead Christmas tree — and 4 other ways to hack your holiday gift returns
Holiday return policies have just reached a new audacious level. A woman at a Costco COST, -0.03% in California got the ultimate refund this week when she tried to return a Christmas tree weeks after the holiday season, “because it is dead,” a witness said on Facebook FB, -0.05% — and it worked. The customer at the wholesale store in a Los Angeles suburb said they were shocked to see somebody hauling a dead tree into the store and asking for her money back. After negotiating with the sales person, she reportedly successfully got a refund. Fresh-cut trees were being sold at Costco for around $35 this season. While a real (formerly) live Christmas tree may be an abnormal return item, if you
- CNBC•4 hours ago
Walmart to shutter 63 Sam's Club locations
Walmart (WMT) is shuttering 63 of its Sam's Club locations across the U.S., with several stores closing their doors as early as Thursday, a company spokesperson told CNBC. Earlier Thursday morning, Walmart announced it would be using savings from new tax legislation to raise employees' starting wages and offer bonuses to staff , including those who work at Sam's Club. The company told CNBC all of Sam's Club's employees who are affected by the store closures will still be eligible for bonuses.
- Bloomberg•yesterday
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.
- Yahoo Finance•6 hours ago
Tax reform will be 'gravy' for the banks
In the coming days, some of Wall Street’s major banks are expected to announce multi-billion dollar write-downs because of tax reform. But in the long run, they’re expected to benefit from the new changes. “The tax law will, of course, mainly be ‘gravy’ for the banks in that their near-term after-tax net income should rise significantly,” Oppenheimer’s Chris Kotowski wrote in a recent note. For now, there will be some up-front charges on deferred tax asset (DTA) write-downs and deemed repatriation of foreign profits for many of the firms.
- Zacks•9 hours ago
Why the Earnings Streak Will Continue for NVIDIA (NVDA)
Looking for a stock that might be in a good position to beat earnings at its next report? Consider NVIDIA Corporation NVDA, a firm in the Semiconductor – General industry, which could be a great candidate for another beat.This company has seen a nice
- 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.
- Zacks•8 hours ago
Valero or Phillips 66: Which is a Better Pick for 2018?
Phillips 66 PSX and Valero Energy Corporation VLO — with market caps of $50.92 billion and $38.28 billion, respectively. Since both stocks currently carry a Zacks Rank #3 (Hold), it will be interesting to see which stock is better positioned in terms of fundamentals. Over the past year, Valero surpassed the industry’s gain of 22.6% as well as S&P 500 index’s rally of 21.3%.
Associated Press•18 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.
- Zacks•yesterday
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%.
- Bloomberg•10 hours ago
Wal-Mart Raises Hourly Wage to $11 in Wake of Tax Overhaul
Wal-Mart Stores Inc. is boosting its starting hourly wage to $11 and delivering bonuses to employees, capitalizing on the U.S. tax overhaul to stay competitive in a tightening labor market. The increase takes effect next month and will cost $300 million on top of wage hikes that were already planned, the world’s largest retailer said Thursday. “Tax reform gives us the opportunity to be more competitive globally and to accelerate plans for the U.S.,” Chief Executive Officer Doug McMillon said in the statement.
Associated Press•2 hours agoWalmart boosts starting pay, closing dozens of Sam's Clubs
Walmart confirmed Thursday that it is closing dozens of Sam's Club warehouse stores across the country — a move that seems sure to cost jobs — on the same day it announced that it was boosting its starting salary for U.S. workers and handing out one-time bonuses to others.
- Zacks•11 hours ago
Bull of the Day: Micron Technology (MU)
Micron Technology (MU), a Zacks Rank #1 (Strong Buy), is one of the world's leading providers of advanced semiconductor solutions. Through its worldwide operations, Micron manufactures and markets DRAMs, NAND flash memory, CMOS image sensors, other semiconductor
- Fox Business Videos•4 hours ago
Wal-Mart, Boeing: Companies dole out big bonuses thanks to tax reform
In response to historic tax reform legislation, American companies are rewarding its employees. From Boeing to Wal-Mart, here’s a roundup of bonuses and extra perks corporate America is doling out.
Business Insider•9 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.
- 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•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.
The Street•10 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•7 hours ago
Walmart raises wages, but tech still cheaper long-term, fmr. McDonald's CEO says
Former McDonald’s USA (NYSE:MCD) CEO Ed Rensi said on Thursday the restaurant industry is a bellwether for the state of play in America’s minimum wage small businesses. Minimum wage increases took effect in 18 U.S. states in earlier this month, and has already impacted some casual dining chains. Restaurants aren’t the only industry seeing minimum wage increases, Walmart, on Thursday, raised its starting hourly wages to $11 an hour, while giving employees a one-time bonus of up to $1,000, depending upon the length of time spent with the company.
- CNBC.com•23 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
Associated Press•4 hours agoCorrection: Sears-Liquidity story
In a story Jan. 10 about department store chain Sears Holdings Corp. obtaining new financing, The Associated Press incorrectly quoted Jude Gorman, general counsel at Reorg, a research firm that follows distressed companies. NEW YORK (AP) — Sears has secured more financing, and is eying more cost cutting, as the beleaguered retailer reported a big sales drop during the critical holiday season. The company, which operates Sears and Kmart stores, said Wednesday that it secured $100 million in new financing, will seek twice that from other sources, and will attempt $200 million in additional cost cuts this year unrelated to store closings.
- Fox Business•2 days ago
Job hunting? These are the best occupations for 2018
The health care sector in the U.S. was unsurprisingly the leader in job gains in the last month of 2017, according to data reported by the Bureau of Labor Statistics (BLS). Most likely due to the ever-increasing demand and reliance on technology worldwide, software developer took the No. 1 spot, marking the first year since 2015 that a health care job did not top the list. Other tech jobs that made the list include information security analyst (No. 32), IT manager (No. 42) and computer systems analyst (No. 46) due to the high-demand for problem-solving skills in technology and data analytics across most industries today.
Business Insider•6 hours agoThe US government will auction off $54 million of bitcoins
At Thursday's prices, that would be roughly $1.409 million, though it's not clear whether the government auction will fetch prices below or above where the cryptocurrency is trading on other exchanges.
- Bloomberg•8 hours ago
This Year's Biggest Surprise Stock Mover May Be General Electric
General Electric has kicked off the new year on a strong note, with its shares up around 10% in the first week and a half of trading. The industrial behemoth is coming out of an especially turbulent year that sent its stock price down a staggering 45 percent, even as the broader market smashed records. “Oil and gas has become a more significant business for them with the Baker Hughes deal,” Edward Jones analyst Jeff Windau said.
Reuters•14 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.
