News: Business/Economy

Latest News

Defying Pelosi, Trump proceeds with State of the Union plans
Defying Pelosi, Trump proceeds with State of the Union plans

WASHINGTON (AP) - The White House is moving forward with plans for President Donald Trump to deliver his State of the Union speech next week in front of a joint session of Congress - despite a letter from House Speaker Nancy Pelosi requesting he delay it.

IBM Gains as Quarterly Earnings, 2019 Outlook Beat Estimates
IBM Gains as Quarterly Earnings, 2019 Outlook Beat Estimates

IBM said it sees adjusted earnings per share of at least $13.90 in 2019. Chief Executive Officer Ginni Rometty has been touting IBM's newer businesses in the cloud and artificial intelligence as agents for growth. "While IBM delivered a decent quarter relative to expectations, we still have reservations about the future growth prospects for the company," Josh Olson, an analyst with Edward Jones & Co., said in a note.

China signals threat to trade talks if Huawei CFO is not released
China signals threat to trade talks if Huawei CFO is not released

"Bulls & Bears" panel on the Trump administrations' trade negotiations with China and how the DOJ said that it will pursue the extradition of Huawei CFO Meng Wanzhou.

Top technician says forget the market sell-off, just keep...
Top technician says forget the market sell-off, just keep...

Chris Verrone, Strategas Technician, on the breakout stocks to buy. With CNBC's Bob Pisani and Melissa Lee, and the Fast Money traders, Tim Seymour, Karen Finerman, Steve Grasso and Guy Adami.

IBM revenue beats estimates on strength in cloud, services businesses
IBM revenue beats estimates on strength in cloud, services businesses

(Reuters) - IBM Corp (IBM.N) beat analysts' fourth-quarter earnings estimates and forecast full-year profit above expectations on Tuesday, as the company benefits from its focus on newer businesses such ...

Insurance giant takes over naming rights for Brewers stadium
Insurance giant takes over naming rights for Brewers stadium

The home of the Milwaukee Brewers will no longer be known as Miller Park after next year. American Family Insurance will take over the naming rights to the stadium in 2021 under a 15-year agreement announced Tuesday. "This is a relationship with a very sophisticated Fortune 500 company that will

8 Best High-Growth Investments for Your Retirement Account

Build your portfolio with high-growth investments. Value stocks can offer some reassurance in a down market compared with the increased volatility often associated with high-growth stocks. When taking a long-term view, accounting for market cycles, investing in stocks with growth potential can pay off.

K12: Fiscal 2Q Earnings Snapshot

On a per-share basis, the Herndon, Virginia-based company said it had net income of 59 cents. The online education company posted revenue of $254.9 million in the period. For the current quarter ending ...

IBM: 4Q Earnings Snapshot

The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $4.81 per share. The technology and consulting company posted revenue of $21.76 billion in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $21.74 billion.

IBM revenue beats estimates on strength in cloud, services businesses

IBM Corp reported a smaller-than-expected 3.5 percent drop in fourth-quarter revenue on Tuesday, as higher sales in its newer businesses such as cloud, software and services partially offset tapering sales of its latest mainframe computers and the pressures from a strong dollar. However, the company, which is wrapping up its $34 billion cloud deal for Linux software maker Red Hat Inc, guided 2019 free cash flow below analysts' expectation, adding to investor concerns following the deal, the company's biggest. IBM said revenue slipped to $21.76 billion in the three months ended Dec. 31, but came in above analysts' average estimate of $21.71 billion, according to IBES data from Refinitiv.

The financial shock for 800,000 federal workers is about to get much worse as the shutdown drags on
The financial shock for 800,000 federal workers is about to get much worse as the shutdown drags on

If the shutdown continues through the week, Friday will mark the second federal paycheck missed by affected federal workers, whose household budgets have been completely upended.

This Is How Much Money Chris Harrison Has Made From The Bachelor
This Is How Much Money Chris Harrison Has Made From The Bachelor

Oh, Chris Harrison: the mainstay of our Monday nights, always there to tell us when there is but one remaining rose on the table at the rose ceremony ("Ladies, Colton, this is the final rose"), arguably there for the most right reasons of all. Since 2002, Harrison has hosted the ever-growing

Alexandria Ocasio-Cortez says asking herself this question at 18 changed the direction of her life
Alexandria Ocasio-Cortez says asking herself this question at 18 changed the direction of her life

Alexandria Ocasio-Cortez, the youngest woman ever to be elected to Congress, almost didn't pursue politics until the death of her father forced her to "grapple with questions of legacy and what is important and what do I want to do with my life at 18," she told Ta-Nehisi Coates at the

White House Considering New Candidates for Open Fed Board Seat
White House Considering New Candidates for Open Fed Board Seat

Fed economist Nellie Liang withdrew from consideration earlier this month for one of the vacancies. Less clear is whether the White House will renominate Carnegie Mellon University economist Marvin Goodfriend. Efforts the White House has made to contact potential new nominees show that, despite Liang

Natural Gas Price Prediction - Prices Tumble Through Support Targeting 2019 Lows
Natural Gas Price Prediction - Prices Tumble Through Support Targeting 2019 Lows

Prices tumbled through the 10-day moving average which was former support now resistance seen near 3.24. Target support on natural gas is seen near the 2019 lows at 2.87. Short-term momentum has turned negative as the fast stochastic generated a crossover sell signal.

Gold Price Prediction - Gold Rebounds on Cancellation of US/Chinese Trade Talks
Gold Price Prediction - Gold Rebounds on Cancellation of US/Chinese Trade Talks

Gold prices rebounded on Tuesday, as US yields moved lower and the dollar eases against most major currencies. New that US trade representatives called off a trade meeting, as differences where too wide at this current juncture. Stock prices moved lower, which buoyed treasury prices and lowered yields paving the way for higher gold prices.

Cost of government shutdown: Can the U.S. avoid a fiscal cliff?
Cost of government shutdown: Can the U.S. avoid a fiscal cliff?

Former CBO director Douglas Holtz-Eakin provides insight into the political impact of the partial government shutdown.

US STOCKS-Wall St drops over 1.5 percent as global growth worries resurface

U.S. stocks tumbled over 1.5 percent on Tuesday on concerns of global growth after the International Monetary Fund cut its growth forecast, China reported a sharp slowdown and a few U.S. companies gave disappointing earnings outlooks. The three major indexes dropped to their session's low after the Financial Times reported the United States had turned down China's offer of preparatory trade talks. Meanwhile, China's economy cooled last quarter under pressure from faltering domestic demand and bruising U.S. tariffs, dragging 2018 growth to the lowest in nearly three decades.

'No Cave!': Trump Won't End Shutdown without 'Powerful Wall' Funding

By CCN.com: U.S. President Donald Trump has vowed to not let up on his demand for a border wall. In a Tuesday morning tweet, Trump vowed to fulfill his key campaign promise as he accused Democrats of playing "political games" with the government shutdown. Without a Wall our Country can never have Border

Buy Lennar and sell Zillow, says Zelman founder
Buy Lennar and sell Zillow, says Zelman founder

Ivy Zelman, Zelman & Associates founder and CEO, joins the CNBC's "Fast Money Halftime Report" team to discuss her strategy and outlook on the U.S. housing market.

BofA Says Don
BofA Says Don't Believe the Hype on a Housing Collapse

"Don't believe the narratives of a housing collapse," economist Michelle Meyer wrote in a note to clients on Tuesday. Bank of America's call comes as companies exposed to the housing market have disappointed.

GBP/USD Price Forecast - British pound finds support
GBP/USD Price Forecast - British pound finds support

Overall, I believe that the 1.27 level underneath will be a bit of a "floor" in the market, so if we were to break down below there I think that the market probably will continue to go down to the 1.25 handle after that. GBP/USD Video 23.01.19 I also believe that if we break above the downtrend line we probably go looking towards the 1.30 level initially, followed by the 1.33 level. The 1.35 level above there is also another target.

PG&E shares surge after company secures $5.5 billion in bankruptcy financing
PG&E shares surge after company secures $5.5 billion in bankruptcy financing

U.S. power producer PG&E Corp's (PCG.N) shares surged more than 10 percent on Tuesday after it said it had secured $5.5 billion in debtor-in-possession (DIP) financing from four banks as it prepares to file for Chapter-11 bankruptcy protection. The financing will comprise a $3.5 billion revolving credit facility, a $1.5 billion term loan and a $500 million delayed-draw term loan. Investment banks JPMorgan Chase & Co (JPM.N), Bank of America Merrill Lynch (BAC.N), Barclays Plc (BARC.L) and Citigroup Inc (C.N) will provide financing, the company said in a filing.

10 Financial Moves to Make When Interest Rates Rise

Higher interest rates mean different things depending on your financial situation and the kind of debt and investments you have. No matter what your financial situation is, read on to better understand what higher interest rates may mean for you -- and the steps you can take to prepare your finances for a rise in rates. Pay off Credit Cards Credit card debt is a short-term loan, so credit card interest rates are generally in sync with federal funds rate but at a higher level.

Johnson & Johnson puts up strong profit and revenue in 4Q
Johnson & Johnson puts up strong profit and revenue in 4Q

Johnson & Johnson (JNJ) on Tuesday reported fourth-quarter net income of $3.04 billion, after reporting a loss in the same period a year earlier. On a per-share basis, the New Brunswick, New Jersey-based company said it had net income of $1.12. Earnings, adjusted for one-time gains and costs, came to $1.97 per share.

3 groups, many videos, many interpretations of DC encounter
3 groups, many videos, many interpretations of DC encounter

Dozens of white Catholic high school students visiting Washington for a rally to end abortion. At first the focus was on a short video showing one of the high school students, Nick Sandmann, wearing a red "Make America Great Again" hat and appearing to smirk while a crowd of other teens laughed

US STOCKS-Futures lower on global growth worries after IMF trims outlook

U.S. stock index futures fell on Tuesday, as investors were hit by fears of global economic slowdown after the International Monetary Fund trimmed its growth forecasts in a week of heavy corporate earnings. The gloomy IMF forecasts, released on Monday, predicted the global economy will grow at 3.5 percent in 2019 and 3.6 percent in 2020, down 0.2 and 0.1 percentage point respectively from last October's forecasts. The downgrades reflected weakness in Europe and were on the same day China released data that confirmed its slowest growth rate in 28 years, adding to fears of a global economic slowdown.

Bull Market
Bull Market's Trillion-Dollar Dividend Ride Comes Back to Earth

In October, Anheuser-Busch InBev NV halved its dividend after the world's largest brewer confronted mounting fears over a $109 billion debt burden. Just days later, General Electric Co. slashed quarterly payments to a penny a share in a dramatic bid by the leverage-laden behemoth to bolster its balance sheet. "Those two were like, holy cow, what's going on?" said Devlaminck, managing director of global equities at DuPont Capital Management.

'Fill or kill': the three weeks that saved Sears

Working the phone from Miami, where he has an office and a 17,000-square-foot mansion, was Sears Chairman Eddie Lampert. A major sticking point: who would cover more than $200 million in costs that Sears had racked up since filing for bankruptcy in October. The company owed money for taxes and merchandise

San Francisco is a
San Francisco is a 'train wreck' of inequality because of Silicon Valley, Salesforce's CEO says

"San Francisco is kind of a train wreck, we have a real inequality problem," Salesforce CEO Marc Benioff tells CNBC. Benioff was a vocal proponent of Proposition C, a bill aimed at fighting homelessness by raising taxes on big businesses. Some tech CEOs fought "tooth and nail" to scuttle Prop C, Benioff says.

Apple Concedes That Qualcomm Was the Only 4G-Ready Chip Source
Apple Concedes That Qualcomm Was the Only 4G-Ready Chip Source

The admission on Jan. 18 by Matthias Sauer, Apple's director of cellular systems architecture, is the kind of point Qualcomm will have to score in front of U.S. District Judge Lucy Koh as it continues its defense against antitrust allegations by the U.S. Federal Trade Commission. The government has charged it with using market dominance in smartphone chips to force phone makers to pay inflated patent licensing revenue. Sauer testified that Apple considered the likes of Ericsson, Broadcom and Intel Corp. as component suppliers for devices as early as the 2012 planning phase for new products, but none could deliver to Apple's desired specifications.

I
I'm Only 35 and Retirement Is My No. 1 Money Focus

This money pro has his eyes on his golden years.

Ray Dalio Says Talk of 70% Income Tax Will Play a Greater Role
Ray Dalio Says Talk of 70% Income Tax Will Play a Greater Role

Jan.22 -- Ray Dalio, co-chairman and founder at Bridgewater Associates, discusses central bank monetary policy, the debt cycle and income-tax rates. He speaks during a Fox Business News panel discussion at the World Economic Forum's annual meeting in Davos, Switzerland.

Sun Pharma takes steps to ease governance concerns; shares rally
Sun Pharma takes steps to ease governance concerns; shares rally

India's top drugmaker by market value Sun Pharmaceutical Industries announced on Tuesday a new local distributor and other measures in a bid to ease investor concerns over its corporate governance, sending its shares up more than 6 percent. The move comes after its shares tumbled last week following media reports about a complaint by a whistleblower to regulators relating to certain transactions involving the company and an executive director. The whistleblower had alleged that Sun Pharma's distributor Aditya Medisales Ltd had transactions worth more than 58 billion rupees ($814 million) with Suraksha Realty, controlled by the executive director, Sudhir Valia, a report by Moneylife...

Foxconn says trying to hire 50,000 people in first quarter after job cut reports
Foxconn says trying to hire 50,000 people in first quarter after job cut reports

Taiwan's Foxconn (2317.TW), assembler of Apple Inc's (AAPL.O) iPhones, on Tuesday said it was trying to recruit for more than 50,000 positions across its China campuses for the January-March quarter, amid reports of mass lay-offs. The world's largest contract manufacturer, formally known as Hon Hai Precision Industry Co Ltd, said in a stock exchange filing that changes in employee numbers were part of its usual adjustments based on global strategy and clients' needs. Last week, the Nikkei reported that Foxconn had let go around 50,000 contract workers in China since October, months earlier than normal.

Starbucks Expands Uber Delivery Venture to San Francisco, London
Starbucks Expands Uber Delivery Venture to San Francisco, London

The service will start in San Francisco on Tuesday, to be followed by Boston, Chicago, Los Angeles, New York and Washington D.C. "in the coming weeks." Starbucks is planning to bring delivery service to nearly a quarter of U.S.-owned stores in seven cities this spring, the company said in a statement Tuesday. Almost all of Starbucks' menu items will be available with delivery times of within 30 minutes -- and an initial $2.49 booking fee. The coffee chain is planning to test delivery programs in other countries this year, with London being the first European city targeted for a pilot later this month.

U.S. Shutdown at Day 32 as Democrats Vow to Reject Trump Offer
U.S. Shutdown at Day 32 as Democrats Vow to Reject Trump Offer

Lawmakers are returning to Washington after a holiday weekend that started off with signs of incremental progress, but concluded with little accomplished. If the stalemate continues all week, many of the 800,000 federal workers going without pay will miss a second paycheck since funding ran out for

U.S. Shutdown at Day 32 as Democrats Vow to Reject Trump Offer
U.S. Shutdown at Day 32 as Democrats Vow to Reject Trump Offer

Lawmakers are returning to Washington after a holiday weekend that started off with signs of incremental progress, but concluded with little accomplished. If the stalemate continues all week, many of the 800,000 federal workers going without pay will miss a second paycheck since funding ran out for

Hasn
Hasn't the Time Come for Rudy Giuliani to be Disciplined?

The president praises a convicted felon for not cooperating with law enforcement and condemns one who has cooperated, and Mr. Giuliani remains silent. The president characterizes John Dean who was responsible for the disclosure of Richard Nixon's criminal conduct as a "rat," and Mr. Giuliani remains

USD/JPY Fundamental Daily Forecast - Traders Have to Decide on the More Attractive Safe-Haven Asset
USD/JPY Fundamental Daily Forecast - Traders Have to Decide on the More Attractive Safe-Haven Asset

The lack of fresh economic news and developments over U.S.-China trade relations is driving the price action. At 0711 GMT, the USD/JPY is trading 109.404, down 0.260 or -0.23%. Traders are also waiting for a slew of economic news from Japan on Wednesday including Trade Balance and All Industries Activity.

Tesla says it has no agreement with Chinese battery maker Lishen
Tesla says it has no agreement with Chinese battery maker Lishen

Tesla Inc (TSLA.O) denied on Tuesday that it had signed a preliminary agreement with Tianjin Lishen to supply batteries for its new Shanghai car factory, saying it had received quotes from the Chinese battery maker but did not proceed further. "We have not signed any agreement of any kind with them," a Tesla spokeswoman told Reuters. Reuters earlier on Tuesday reported, citing two sources with direct knowledge of the matter, that Tesla and Lishen had signed a preliminary agreement and were working on the details.

Prime Problems: Amazon is Losing its 2-Day Shipping Dominance, Will It Matter?
Prime Problems: Amazon is Losing its 2-Day Shipping Dominance, Will It Matter?

By CCN.com: Amazon Prime memberships are over 100 million in the US alone. According to the third quarter revenue call, the company is aggressively expanding Prime to Canada, Mexico, and China. Amazon Prime means multiple things: faster shipping of products bought on Amazon, access to video-on-demand

PRESS DIGEST- New York Times business news - Jan 22

The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy. A Japanese court rejected a bail request by ousted Chairman and Chief Executive of Nissan Motor Corp Carlos Ghosn for the second time in a week, after spending more than two months in a Tokyo jail.

Asian shares, oil skid on global growth worries
Asian shares, oil skid on global growth worries

Asian shares stumbled and oil prices fell on Tuesday as pessimism about world growth drove investors away from risky assets, while sterling ticked lower in the face of the latest twists and turns in the Brexit saga. China got the week off to a shaky start on Monday after Beijing reported 2018 growth in the world's second-largest economy slowed to its weakest pace in nearly 30 years. Adding to the air of caution, the International Monetary Fund trimmed its global growth forecasts and a survey showed increasing pessimism among business chiefs as trade tensions loomed.

Political shifts, sales slump cast shadow over gun industry
Political shifts, sales slump cast shadow over gun industry

When gunmakers and dealers gather this week in Las Vegas for the industry's largest annual conference, they will be grappling with slumping sales and a shift in politics that many didn't envision two years ago when gun-friendly Donald Trump and a GOP-controlled Congress took office. Some of

China drone maker DJI says $150 million scam involved staff padding parts costs
China drone maker DJI says $150 million scam involved staff padding parts costs

China's SZ DJI Technology Co Ltd, the world's largest maker of consumer drones, said employees inflating the cost of parts for personal gain led to incidents of suspected corruption that may have caused it to suffer a hit of almost $150 million last year. Privately held DJI said late last week

No Idea Is Off Limits for IMF
No Idea Is Off Limits for IMF's First Woman Chief Economist

Gita Gopinath has a knack for asking the kind of questions that, not so long ago, might have raised eyebrows inside the International Monetary Fund, where she just took over as chief economist. What if more emerging markets actively managed their currencies, like China does? Interrogating the data for answers, and using them to poke holes in the conventional playbooks for economic policy, was a hallmark of 47-year-old Gopinath's work at Harvard.

China, HK stocks retreat as investors brace for tough quarter

Shares in China and Hong Kong fell on Tuesday as investors take stock of the country's weak economic outlook, which points to a difficult first quarter of 2019, with the impact of policy support expected later in the year. ** China's blue-chip CSI300 index was down 0.9 percent, with its financial sector sub-index lower by 0.5 percent, the consumer staples sector falling 1.6 percent, and the healthcare sub-index down 1.9 percent. ** Chinese H-shares listed in Hong Kong fell 1.2 percent, while the Hang Seng Index fell 1 percent to 26,921.49.

Gold Price Futures (GC) Technical Analysis - Taking Out $1282.40 on Weekly Chart Could Trigger Acceleration to Downside
Gold Price Futures (GC) Technical Analysis - Taking Out $1282.40 on Weekly Chart Could Trigger Acceleration to Downside

Gold prices fell last week with the market hitting its lowest level since December 27. The catalyst behind the price action was the news that the United States and China may have offered concessions during the mid-level trade talks in Beijing earlier in the month. This zone is also providing resistance, having stopped the rally the week-ending January 4 at $1300.40.

Company Chairman, Wife Cut Stake as Hong Kong Stock Plunged 89%
Company Chairman, Wife Cut Stake as Hong Kong Stock Plunged 89%

Shum Tin Ching and his wife Wang Xinmei sold 93.6 million shares of Jiayuan International Group Ltd. on Jan. 17 at an average of HK$2.7611 apiece -- about a 79 percent discount from the previous day's close -- according to a Hong Kong exchange filing. Jiayuan said at that time that it wasn't aware of the reason behind the slump nor of any information requiring disclosure. "The stake reduction is a very confusing move," said Castor Pang, head of research at Core Pacific-Yamaichi International Hong Kong.

Top News: Economy

© Copyright Daily Magazine
facebook
Hit "Like"
Don't miss any important news
Thanks, you don't need to show me this anymore.