- S&P 5002,795.69+0.34%
- Dow 3025,967.94+0.64%
- Nasdaq7,300.18+0.54%
- Russell 20001,601.94+0.63%
- Crude Oil64.04-0.40%
- Gold1,335.10+0.01%
- Silver17.14-0.01%
- EUR/USD1.22-0.28%
- 10-Yr Bond2.54-0.43%
- Vix10.98+8.07%
- GBP/USD1.38-0.19%
- USD/JPY110.74+0.20%
- BTC-USD12,093.16-11.33%
- FTSE 1007,745.76-0.30%
- Nikkei 22523,951.81+1.00%
- Business Insider•yesterday
China is heading toward a debt crisis that will throw into question everything we think we know about it's economy
The country's total non-financial sector debt, which includes household, corporate and government debt, will surge to nearly 300% of GDP by 2022, up from 242% in 2016. By some estimates, China’s true growth rate after taking the bad debt into account could be just half the official 6.9%. China’s worrisome build-up of corporate and household debt is well-documented, but fears of a financial crisis have receded sharply from the turbulent days of 2015 and 2016, when the country’s stock market crashed on fears that an epic two-decade growth streak might come to an abrupt halt.
- Zacks•5 hours ago
AT&T Finalizes Deal With Communications Workers of America
AT&T Inc. T has recently finalized a year-long pending deal with the Communications Workers of America (CWA) in relation with AT&T Mobility Orange unit employees. Following the announcement, shares of AT&T were up 1.15% to $36.90 on Jan 12. Announced on Dec 13, 2017, the four-year contract covers more than 20,000 AT&T Mobility employees (in wireless retail, call center and tech segments) in 36 states and the District of Columbia.
- Bloomberg•8 hours ago
BP Takes $1.7 Billion Charge on Deepwater Horizon Claims Closure
BP Plc expects to book a post-tax non-operating charge of about $1.7 billion in its fourth-quarter results, reflecting the remaining losses and claims from the 2010 Deepwater Horizon disaster. “With the claims facility’s work very nearly done, we now have better visibility into the remaining liability,” Chief Financial Officer Brian Gilvary said Tuesday in a statement. Cash payments related to Deepwater Horizon in 2018 are now anticipated to be about $3 billion, higher than the company’s third-quarter estimate of just over $2 billion.
- MarketWatch•yesterday
Bitcoin steadies above $13,000, as Ripple drifts south
Bitcoin was posting modest gains on Monday, holding above the $13,000 level, while Ripple prices were coming under pressure. The bitcoin spot price BTCUSD, +2.46% was at $13,697.90, up 0.6%, according to research site CoinDesk.com. The cryptocurrency moved above $14,000 on Saturday, but has since pared those gains. On Monday, the spot price has traded between a low of $13,401.24 and a high of $13,792.21. In futures, the January bitcoin contract on the CME BTCF8, -2.01% BTCF8, -2.01% was at $13,580, down 2.6% from Friday’s settlement of $13,945. Bitcoin futures on Cboe Global Markets XBTF8, +2.18% was off 1.6% to $13,570. Across other cryptocurrencies, Ripple dropped 4% to $1.84, while Ether
- Fox Business•yesterday
Ford won’t be giving one-time tax related bonuses
Ford CEO Jim Hackett won’t be following his CEO rivals in doling out bonus payments to employees on the heels of tax reform, but says his workers will benefit anyway. “Because some of the tax moves are actually enhancing profits … employees will see a benefit, but there’s not a stand-alone distribution, that doesn’t make sense,” Hackett told FOX Business’ Jeff Flock during an interview at the North American International Auto Show in Detroit. Currently Ford has a profit sharing plan in place.
Associated Press•3 hours agoGE to take $6.2 billion charge tied to GE Capital
General Electric is taking a $6.2 billion after-tax charge in the fourth quarter tied to its review and reserve testing of GE Capital's runoff insurance portfolio. GE Capital will also suspend its dividend to GE for the foreseeable future. "At a time when we are moving forward as a company, a charge of this magnitude from a legacy insurance portfolio in runoff for more than a decade is deeply disappointing," GE CEO John Flannery said in a company release.
- Bloomberg•yesterday
India to Split Flag Carrier Into Four Parts Ahead of Sale
India will break up its debt-burdened flag carrier into four separate companies and offer to sell at least 51 percent in each of them as part of a disinvestment proposed by Prime Minister Narendra Modi. The core airline business comprising Air India and Air India Express -- the low-cost overseas arm -- will be offered as one company, and the process will be completed by the end of 2018, Junior Aviation Minister Jayant Sinha said in an interview Monday. A successful sale of Air India -- with $7.9 billion in debt, five subsidiaries and a joint venture, and a combined workforce of 27,000 -- is crucial for Modi, who wants to showcase his credentials as a reformist attempting to steer the state away from running businesses. The airline, which is surviving on a taxpayer-funded bailout, has strained government finances for decades, and Finance Minister Arun Jaitley said last year that money spent on Air India could have been used for education.
- Zacks•yesterday
What's in the Cards for Kinder Morgan (KMI) in Q4 Earnings?
Kinder Morgan Inc KMI is expected to post fourth-quarter 2017 earnings on Jan 17.Last quarter, the company delivered an earnings surprise of 7.1%. Moreover, Kinder Morgan delivered an average positive earnings surprise of 1.8% in the last four quarters
- Fox Business Videos•23 hours ago
Tax reform gave a huge jolt of confidence to this country: Fiat Chrysler CEO
FBN's Jeff Flock on Fiat Chrysler CEO Sergio Marchionne's comments on the tax reform legislation at the Detroit auto show.
- Zacks•yesterday
Raytheon Unit Wins $642M Deal for Ballistic Missile Test
Raytheon Company’s RTN Integrated Defense Systems (IDS) business segment recently secured a contract worth $641.6 million to perform Ballistic Missile Defense System (BMDS) test related activities for multiple radar platforms. Work related to this will
- Zacks•18 hours ago
New Study Links Price Manipulation to Bitcoin's Insane Surge
Is it possible that suspicious activity from just one person could have caused a 566% surge in the price of bitcoin? In a report titled “Price Manipulation in the Bitcoin Ecosystem,” researchers Neil Gandal, JT Hamrick, Tyler Moore, and Tali Oberman argue that suspicious trades on a popular cryptocurrency exchange are linked to rises in the exchange rate. The research team analyzed activity on the Mt. Gox currency exchange for the purposes of the report.
- Fox Business Videos•16 hours ago
Will the Dow hit 26K on Tuesday?
Bruderman Brothers chief market strategist Oliver Pursche and Benchmark Investments managing partner Kevin Kelly discuss whether investors should keep their money in the U.S. or invest it abroad.
Business Insider•yesterdayXiaomi is picking banks for an IPO worth up to $100 billion
Chinese phone maker Xiaomi has begun picking banks to underwrite its public offering, which might value the firm at up to $100 billion, according to Bloomberg. The firm has sunk to fourth place in China behind Huawei, Oppo, and Vivo, but has made strong progress in India where it's one of the top three manufacturers. Xiaomi, one of the biggest smartphone brands in China, is picking banks ahead of an IPO at a possible valuation of $100 billion (£72.3 billion).
- Zacks•yesterday
Enterprise (EPD) Hikes Dividend, Banks on Transportation
Enterprise Products Partners L.P.’s EPD board of directors has announced an increase of 3.7% on an annual basis in its quarterly cash distribution. Since Enterprise’s initial public offering in 1998, this increase marks the 54th consecutive quarterly increase and the 63rd overall distribution increase. Enterprise has an extensive network of pipeline, spread over almost 50,000 miles.
Reuters•2 hours agoBrent oil falls but demand underpins near $70/barrel
Brent crude oil shed some of its recent gains on Tuesday, falling nearly $1 a barrel but healthy demand underpinned prices near $70, a level not seen since 2014's market slump. Prices have been driven up by oil production curbs in OPEC nations and Russia, as well as strong demand thanks to healthy economic growth. Brent futures fell 90 cents to $69.36 a barrel by 1345 GMT.
Associated Press•yesterdayThis Week: UnitedHealth, industrial production, housing data
A look at some of the key business events and economic indicators upcoming this week: HEALTHY RUN Wall Street expects the nation's largest health insurer capped 2017 with another strong quarter.
- Zacks•4 hours ago
IBM Q4 Earnings: Cloud, Analytics & Security in Spotlight
International Business Machines Corporation IBM is set to report fiscal fourth-quarter 2017 results on Jan 18. IBM’s expanding cloud & analytics portfolio is expected to steal the limelight.The company’s growth will be driven primarily by Big Data & business
- Bloomberg•yesterday
Fiat Chrysler’s Marchionne: The Future of Cars Will Be Electric and Commoditized
Sergio Marchionne, one of the longest-serving CEOs in the auto industry, has a stark warning: Carmakers have less than a decade to reinvent themselves or risk being commoditized amid a seismic shift in how vehicles are powered, driven and purchased. Developing technologies like electrification, self-driving software and ride-sharing will alter consumers’ car-buying decisions within six or seven years, the Fiat Chrysler Automobiles NV chief executive said in an interview. The industry will divide into segments, with premium brands managing to hold onto their cachet while mere people-transporters struggle to cope with the onslaught from disruptors like Tesla Inc. and Google’s Waymo.
- Investopedia•yesterday
3 Chipmaker Stocks Nearing Breakouts
(Note: The author of this fundamental analysis is a financial writer and portfolio manager.) After a rough finish to 2017, chipmaker stocks have come back to life as measured by the iShares PHLX Semiconductor ETF (SOXX), which has jumped by nearly 5.5%, while the S&P 500 has climbed by 4.2%. The SOXX ETF looks to be nearing a technical breakout, and that could mean big moves lie ahead for companies like Microchip Technology Inc. (MCHP), Maxim Integrated Products Inc. (MXIM) and Applied Materials Inc. (AMAT). The chart below shows how the ETF is nearing its previous peak around $182, and with the ETF trading at roughly $179, a breakout is very near. Should the ETF rise above $182, it would signal
- Zacks•yesterday
Prothena (PRTA) Tumbles 18% in a Year: What Lies Ahead?
Shares of Prothena Corporation PRTA lost 18.1% over a year as against the industry’ gain of 3.1%. The company suffered a setback in 2017 when the company decided not to continue with the development of psoriasis candidate, PRX003. Although the primary
Associated Press•11 hours agoAsian stocks advance as investors look ahead to US earnings
BEIJING (AP) — Asian stock markets were mostly higher Tuesday following a holiday for U.S. markets as investorsed look ahead to American corporate earnings.KEEPING SCORE: The Shanghai Composite Index rose 0.4 percent to 3,425.03 and Tokyo's Nikkei 225
- Bloomberg•yesterday
Will Emirates Blink on the A380?
Employees on their way out are often tempted to be frank about long-standing corporate problems or to settle scores. Airbus chief salesman John Leahy, who's retiring this year, delivered a humdinger on Monday, saying that unless Emirates bought more A380 superjumbos, Airbus would have "no choice but to shut down the program". His intervention looks less like negotiation and more like corporate emotional blackmail, and Emirates has every right to be furious. Yet Leahy's no fool. He knows the Dubai-based carrier has backed itself into a corner on the A380 and has just as much to lose from the program's termination. Doubtless Leahy's still smarting from November's Dubai airshow, when Emirates failed
Reuters•6 hours agoExclusive: U.S. lawmakers urge AT&T to cut commercial ties with Huawei - sources
U.S. lawmakers are urging AT&T Inc, the No. 2 wireless carrier, to cut commercial ties to Chinese phone maker Huawei Technologies Co Ltd and oppose plans by telecom operator China Mobile Ltd to enter the U.S. market because of national security concerns, two congressional aides said. The warning comes after the administration of U.S. President Donald Trump took a harder line on policies initiated by his predecessor Barack Obama on issues ranging from Beijing's role in restraining North Korea to Chinese efforts to acquire U.S. strategic industries.
- Bloomberg•6 hours ago
Pickup Makers Are Betting $45 Billion on Your Infidelity
The folks who drive pickup trucks are an ardent, consistent lot. This week at the North American International Auto Show in Detroit, each of Detroit’s so-called Big 3—Fiat Chrysler Automobiles NV, Ford Motor Co. and General Motors Co.—is showing off a new pickup truck in the hopes of tempting customers currently wedded to a rival, or at the very least keeping its own drivers from straying. With that kind of black ink at stake, auto executives have been questioning just how loyal the typical pickup truck owner truly is. When it comes to full-size rigs, roughly half of pickup truck owners re-upped last year, trading in a full-size truck and buying another rig from the same brand, according to Edmunds.com.
- Zacks•yesterday
Roche MS Drug Ocrevus Gets Marketing Authorization in Europe
Roche Holdings RHHBY announced that the European Commission (EC) has granted marketing authorization for multiple sclerosis (MS) drug Ocrevus.The drug is approved for patients suffering from active relapsing forms of multiple sclerosis defined by clinical
