China is fully confident of its ability to fend off systemic debt risks, while it continues to strengthen control over local government debt, its finance minister Xiao Jie said on Wednesday. China will reasonably set quotas on local government debt issuance and keep cracking down on “chaotic” debt financing, Xiao said at a press briefing
Check out the companies making headlines after the bell Tuesday: Shares of Caterpillar dropped 3 percent and Boeing‘s stock fell more than 2 percent in extended trading amid concerns about President Trump’s plan to impose tariffs on steel and aluminum. Shares of Urban Outfitters plunged more than 5 percent after hours. The clothing retailer announced
The “Fast Money” traders shared their first moves for the market open. Tim Seymour is a buyer of McDonald’s. Karen Finerman is a buyer of Citigroup. David Seaburg is a seller of Square. Steve Grasso is a buyer of Square. Trader disclosure: On March 5, 2018 the following stocks and commodities mentioned or intended to
Bitcoin traded around $11,242.61 during Tuesday Asia morning trade, according to industry site CoinDesk. The digital currency is down around 16 percent this year, having fallen from a record high of more than $19,000 in December last year. But one reason authorities have been slow to act when it comes to regulating bitcoin is due
Even before being hit with a federal securities fraud lawsuit by the SEC and independent perjury charges by the Justice Department last month, the founder of a now-defunct cryptocurrency exchange had left a trail of lawsuits, legal judgments and a lawyer who says she never got paid by him. Jon Montroll, 37, was accused on
Amazon is considering partnering with Wall Street’s top banks in an effort to build a “checking-account-like” product for customers, according to a report. The e-commerce giant is in early talks with financial institutions including J.P. Morgan Chase to help launch the accounts, aimed at younger customers and those without banking accounts, The Wall Street Journal
The Fed is currently maintaining its monetary base 2.9 percent above its year-earlier level because it apparently believes that the economy will continue to grow in the months ahead at a pace consistent with the objective of price stability, defined as the core PCE inflation rate of 2 percent or less. Some observers may take
It is this inconsistency that can lead to a credibility issue for the Fed. Unfortunately, we have seen this play out before. In the 1970s, Richard Nixon placed undue pressure on then Fed Chair Arthur Burns to pursue an expansionary monetary policy in an effort to bring the unemployment rate down and secure his reelection.
If President Donald Trump’s tariffs go into effect, one of Wall Street’s long-time bulls suggests stocks will get hammered. Raymond James’ Jeffrey Saut says the safest place for investors is on the sidelines until there’s more clarity. “If this spills over into a full-blown trading war, then I have no idea where the bottom is
“Clearly it’s a coordinated, grand investigation. I would expect it’s going to continue throughout this year,” Gottlieb said. He is representing PlexCorps, which faces SEC fraud charges regarding its initial coin offering. About 80 firms have received subpoenas so far, according to a source. CoinDesk also reported a similar estimate, citing lawyers. The SEC did
Trump’s proposal was widely condemned across the globe. Canada’s Prime Minister, Justin Trudeau, said any U.S. tariffs on steel and aluminum imports would be “absolutely unacceptable” and European Commission President Jean-Claude Juncker said it “can only aggravate matters.” Critics have also warned that tariffs will result in higher prices for consumers. On Thursday, Toyota said
Luke Sharrett | Bloomberg | Getty Images A maintenance technician inspects a U.S Air Force Boeing C-17 Globemaster III airplane at the Boeing Global Services and Support facility in San Antonio, Texas. Investors worried about a potential trade war should look at buying shares of Boeing and Raytheon, among other companies, as their trade war
BlackRock said Friday that it has reached out to the publicly traded civilian firearms makers and retailers in the last week and has had “constructive” discussions with some. It continues to explore talks with others as part of an upswell of activism on Wall Street in response to the public outcry about gun violence. Rival
Chinese officials urged the U.S. to support global trade in the wake of President Donald Trump‘s announcement on Thursday of new steel and aluminum tariffs. Trump said the U.S. will set tariffs of 25 percent for steel and 10 percent for aluminum imports. The duties are set to take effect as early as next week.
President Donald Trump‘s decision to impose tariffs on foreign steel and aluminum likely precedes an exit from NAFTA, according to Goldman Sachs. The bank’s chief economist noted that while a formal decision has yet to be announced, a 25 percent tax on steel and a 10 percent tax on aluminum would be the most substantial
Darwin Deason has opened another front in his battle with Xerox, filing a second lawsuit seeking to nominate a full slate of directors to the company’s board, and he has Carl Icahn’s blessing. The lawsuit asks the judge to waive the December 2017 deadline shareholders had to meet to nominate directors before Xerox’s annual meeting,
The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of U.S. Steel. Karen Finerman was a buyer of Lowe’s. Dan Nathan was short the Russell 2000. Guy Adami was a buyer of Cleveland-Cliffs. Trader disclosure: On March 1, 2018, the following stocks and commodities mentioned or intended
While you’ve been wrapped up in your 2017 tax return, the IRS has been busy crunching the numbers to find out how the new tax law will impact withholding. We all know some drastic changes have been made to our nation’s tax code. You’re probably already seeing more money in your paycheck as a result.
It’s still 10 months until Christmas, but one big financial player is already planning a new lure to get you to sign up for instant credit at checkout both in store and online this coming holiday season. Fortunately, we’ve got better options for you! RELATED: Venmo settles FTC allegations about privacy violations and delayed funds
The Federal Trade Commission (FTC) has reached a settlement with Venmo owner PayPal over how the money transfer app handled privacy disclosures and delayed funds to customers after saying their money was available. RELATED: Citi to refund $335M to some credit card customers Venmo is supposed to be a consumer-friendly way to transfer money to
Looks like the young whippersnappers can teach a few of us old folks about saving money! A recent poll of more than 1,000 Americans conducted by Princeton Survey Research Associates International (PSRAI) finds millennials are doing a great job saving money. RELATED: 5 of Clark Howard’s most extreme frugal hacks Millennials are a financially maligned
The IRS has a new warning about fake tax refunds being deposited into the bank accounts of taxpayers. Most of the taxpayers being targeted in this scam likely had their client data stolen from tax professionals earlier this tax season. RELATED: Here’s your 2018 estimated tax refund schedule In early February, the IRS noticed a
When it comes to using credit cards, it’s important to understand both the perks and the risks. Just like with debit cards, credit cards carry some hidden dangers that all consumers should be aware of in order to protect their financial future. When used responsibly, credit cards can be very beneficial for your long-term financial goals.
If you’re in the market to buy a diamond, we have some simple tips to help you find the stone of your dreams without breaking your budget! First, educate yourself Knowledge is power, so make sure you know a bit about diamonds before you start your quest for a deal. There are plenty of places
More Americans today realize the importance of saving money than ever before. But new numbers indicate that a lot of people aren’t putting that knowledge into practice. Figures released Monday by the Commerce Department show that consumer spending rose 0.4% and savings fell in December to $351.6 billion, a level not seen since December 2007,
As the calendar turns to a new year, taxes are top of mind for most Americans. As you’re gathering up all your paperwork to tackle your 2017 tax bill, consider this: You could get free federal and state tax filing from Credit Karma right now. RELATED: New IRS tax withholding tables mean your paycheck might
Look like reports of the early demise of Macy’s have been greatly exaggerated! Because of strong customer traffic, the iconic retailer is going on a nationwide hiring spree at a store near you this month. RELATED: These major retailers have closed more than 5,000 stores in 2017 Macy’s gave job seekers an early Christmas present
Be prepared to pay a little bit more — and perhaps search a little bit longer — for the perfect Christmas tree this year. There have been multiple news reports across the country that the supply of fresh-cut trees can’t keep up with the demand, which could lead to higher prices. This is a problem