Business News
Oil falls on weak demand growth outlook; OPEC-led cuts support
Oil prices fell on Tuesday as markets eyed only modest prospects for growth in fuel demand, although OPEC-led efforts to cut output still offered some support.
Year: 2019
Trading Ideas
America’s Retirement Crisis (and How We Can Help)
Let’s be honest. The U.S. has a serious retirement problem…
The Club’s Bond Strategist Steve McDonald writes extensively about this issue.
About 42% of Americans have less than $10,000 saved for retirement.
Even most of those with retirement accounts don’t have enough to last a long retirement. The median account balance for Americans nearing retirement is $15,000.
And that money is supposed to last them the rest of their lives!
Don’t look to the government for help. Social Security’s reserve funds will be depleted by 2034. Medicare will most likely become insolvent by 2026. The country is in massive debt… and so are many Americans.
The …read more […]
Business News
Japan’s Subaru announces biggest-ever global recall over brake lights
Subaru Corp is recalling around 2.3 million vehicles globally over a brake light problem, the automaker’s biggest-ever recall as it grapples with a series of quality-related issues following rapid expansion.
Business News
JPMorgan stays with Venezuela in emerging bond indexes: fund managers
JPMorgan has retained dollar-denominated debt issued by Venezuela’s state-run oil company PDVSA in a key emerging market bond index as part of its monthly rebalancing, according to two fund managers.
Business News
Intellia CEO not involved in Starboard’s Bristol-Myers board challenge
Intellia Therapeutics Inc Chief Executive John Leonard, who U.S. drug maker Bristol-Myers Squibb Co said last week was nominated by hedge fund Starboard Value LP to sit on its board, is not affiliated with the effort, an Intellia spokeswoman said on Thursday.
Business News
Asian shares slightly higher, U.S. growth lifts dollar, yields
Asian shares inched higher on Friday with broader gains capped by investor caution as concerns about China’s economy and global trade weighed on sentiment while stronger-than-expected U.S. GDP data pushed the dollar up.
Business News
Fed’s Powell: ‘Muted’ inflation gives room for wages to rise
A rise in productivity last year gives more room for wages to grow without the risk of higher inflation, Federal Reserve Chairman Jerome Powell said on Thursday, offering another reason why the U.S. central bank can hold off on further rate increases.
Business News
Kraft Heinz lawsuit targets 3G stock transfer, writedown, SEC probe
Kraft Heinz Co faces a new lawsuit questioning why controlling shareholder 3G Capital transferred $1.23 billion of stock six months before the processed foods company stunned investors with a huge writedown and other bad news.
Business News
Marriott revenue, FY forecast miss estimates on weak demand
Marriott International Inc on Thursday missed Wall Street estimates for quarterly revenue and forecast a lower-than-expected full-year profit, blaming weak demand in North America, its largest market.
Business News
Gap to separate Old Navy brand, close stores; shares soar 25 percent
Gap Inc will separate its better-performing Old Navy brand and shutter about 230 stores of its struggling namesake apparel business, in one of its biggest restructuring efforts to energize sales, sending shares surging 25 percent on Thursday.
Business News
China’s fledgling junk bond market spawns new breed of vulture funds
When the Shanghai-traded bonds of conglomerate China Minsheng Investment Group plunged 40 percent over two days in January after news it had missed a repayment, Beijing-based hedge fund manager Jash Zhang smelled blood.
Business News
Tesla debuts $35,000 Model 3, sees loss in first quarter
Tesla Inc said on Thursday it would offer a $35,000 version of its Model 3 sedan with a delivery time of two to four weeks, while closing many of its retail stores worldwide, steps designed to increase demand and cut overhead costs for the electric vehicle maker.
Business News
HBO Chief Executive Richard Plepler to resign from company
HBO Chief Executive Richard Plepler will leave the premium television network owned by U.S. wireless carrier AT&T Inc after nearly 28 years at the company, Plepler said in a memo to HBO employees on Thursday.
Business News
Tesla to close many stores as $35,000 Model 3 goes on sale
Tesla Inc said on Thursday it would offer a $35,000 version of its Model 3 sedan with a delivery time of two to four weeks, while closing many of its retail stores worldwide, steps designed to increase demand and cut overhead costs for the electric vehicle maker.
Business News
Gap to separate Old Navy brand, close stores; shares surge 25 percent
Gap Inc said on Thursday it would separate its better-performing Old Navy brand into a publicly traded company and close about 230 stores of its struggling namesake apparel business, sending its shares surging about 25 percent.