President Donald Trump has offered a simple explanation for his wealthy Cabinet choices: Rich people know how to manage money better than poor people do. In a rambling aside at a rally in Iowa on Wednesday night, Trump responded to criticism about his choices for top economic jobs, including billionaire investor Wilbur Ross for Commerce […]
Read moreWal-Mart could step in as a rival bidder for Whole Foods Market, JPMorgan analysts said, as shares of the grocery chain rose above the $42 price offered by Amazon earlier this month. JPMorgan research analysts said in a note Thursday that Wal-Mart could be drawn to Whole Foods for its relatively wealthier customers and strong […]
Read moreFacebook is introducing new protections for profile pictures for users in India, in a bid to stop people from copying, sharing, or otherwise misusing their images. Users who elect to guard their profile through the new system will ensure that others can’t send, share, or download their picture, and will keep strangers from tagging themselves […]
Read moreOracle’s stock opened at a record high on Thursday. Shares opened at $51.57 after the company’s fourth-quarter earnings beat analysts’ expectations. Oracle hit its last all-time high on March 16, when shares climbed to $46.99. The company reported earnings per share of 89 cents, excluding items, beating the 78 cents a share expected by analysts, […]
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Canaccord Genuity’s Tony Dwyer is using just one chart to show the bears that stocks are moving higher. “There’s this narrative out there that the yield curve flattening is telling you that the economy is closer to recession and the stock market is in trouble. History shows the opposite is true,” the firm’s chief market […]
Read moreMore than 600 employees at a Carrier plant in Indianapolis are bracing for layoffs beginning next month, despite being told by President Trump that nearly all the jobs at the plant had been saved. The deal, announced with great fanfare before Trump took office, was billed not only as a heroic move to keep jobs […]
Read moreTalk about a solid track record. Four stocks in the S&P 500 — Nvidia, Broadcom, Reynolds American and Fiserv — have risen by more than 15 percent in each of the last four years. In 2017, the four are rising even faster: more than 20 percent. Nvidia has seen explosive gains, having risen over 1,000 […]
Read moreAlida Monaco doesn’t spend her summers doing the usual teenage stuff, like working at the mall or flipping burgers. Instead, she’s studying special relativity and astrophysics — by choice. Monaco, 18, a recent high school graduate in New York City, spent upwards of three hours a day on homework while in high school. Summer classes […]
Read moreDoomsday predictions for China’s economy have a long history, but most are looking at the wrong scenario, Michael Buchanan, head of strategy at Singapore wealth fund Temasek, said on Thursday. “If you’re using the metrics from the Asia crisis, you’re going to get the wrong answer,” Buchanan said at the DBS Institutional Investor Symposium in […]
Read moreIn Charlotte, North Carolina, mother-son duo Julie and Michael Chambers are watching their small business, Melt in Your Mouth, come to life. The cupcake store they opened more than two years ago now has four employees, and they’re hoping to open up additional locations. But chief among their concerns is the tax burden they face. […]
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