Month: September 2017

Peter Altmaier, German Chancellor Angela Merkel’s chief of staff, will take over as acting finance minister from Wolfgang Schaeuble when he leaves office, German newspaper Sueddeutsche Zeitung reported on Friday. It said, without citing its sources, that Merkel had made the decision. On Wednesday 75-year-old veteran conservative Schaeuble agreed to become president of the parliament
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South Korea’s financial regulator on Friday said it will ban raising money through all forms of virtual currencies, a move that follows similar restrictions in China on initial coin offerings. The Financial Services Commission said all kinds of initial coin offerings (ICO) will be banned as trading of virtual currencies needs to be tightly controlled
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The U.S. Federal Aviation Administration said Thursday it was restricting drone flights over 10 U.S. landmarks, including the Statue of Liberty and Mount Rushmore at the request of national security and law enforcement agencies. The FAA and U.S. Interior Department said they would restrict drone flights up to 400 feet within the boundaries of the
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Andrew Harrer | Bloomberg | Getty Images The Twitter Inc. account of U.S. President Donald Trump, @realDoanldTrump Check out the companies making headlines after the bell: Tyson Foods shares jumped 5.4 percent in extended trading after the company boosted its earnings guidance for the fiscal year on strong beef-segment earnings Shares of KB Home rose
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Built using technology from the existing Orion spacecraft, the lander has an edge against other competitors’ proposals: its single-stage reusability. Chambers says that developing a vehicle that could both land and lift off means “developing one less system,” which cuts costs. “We think you shouldn’t invent anything new if you don’t need to,” Chambers said.
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Noted hedge fund manager Whitney Tilson said he is shutting down his fund at a time when industry assets are growing but returns continue to lag. Tilson notified clients on Sunday that his Kase Capital Management was shuttering the fund. The fund managed $180 million at its peak —a relatively modest sum by the $3
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Most of the wealth was in Asia-Pacific, but North America came just 0.8 percent short with 18 percent of the global wealth. Europe placed third with 14.7 percent. Similarly, most millionaires resided in the Asia-Pacific region, 5.5 percent of them in total. North America followed suit, hosting 5.2 percent of the world’s millionaires and Europe
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Finally, Cramer drew a comparison between two seemingly disconnected companies: sneaker giant Nike and semiconductor manufacturer Micron. The “Mad Money” host said they both rely on supply and demand, or, in more basic terms, inventory, to succeed in their respective sectors. Micron is currently seeing low supply and a surge of demand, which contributed to
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A spokesperson for AIR Worldwide told CNBC the catastrophe-modeling firm conducted an earthquake model analysis and found simulated events impacting California could result in “upwards of $300 billion in total ground-up losses to properties.” An analysis by CoreLogic, a global data analytics firm, specifically looked at a large quake along the San Andreas Fault and
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America’s top 1% now control 38.6% of the nation’s wealth, a historic high, according to a new Federal Reserve Report. The Federal Reserve’s Surveys of Consumer Finance shows that Americans throughout the income and wealth ladder posted gains between 2013 and 2016. But the wealthy gained the most, driven largely by gains in the stock
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While mutual funds and exchange-traded funds offer convenience, they have drawbacks, including lack of customization and transparency. And some are downright tax-inefficient. Investors who crave a more personalized approach but still want professional management might want to consider separately managed accounts. “Mutual funds are great, but you could say the same about penicillin,” said certified
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As a New Yorker, I am picky and personal about my pizza. I like a thin crust, fresh tomato sauce that’s not too sweet and whenever possible, fresh basil on the mozzarella. So it was with some reticence (and mild horror) that I found myself picking up a slice of pizza in downtown Manhattan recently
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A spokesman for Quebec’s transport minister said the province would not budge on new rules requiring drivers to undergo 35 hours of training and to have their criminal background checks validated by Quebec police instead of third parties. During the pilot, Uber drivers were ticketed for not identifying their vehicles, driving cars that were too
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