PeopleImages | Getty Images Whether a variable annuity is a good option depends on all sorts of related financial considerations, including other sources of income in retirement and your individual situation and goals. It isn’t every day that an older client might consult experts to help him become impoverished as he prepares for long-term care.
Simon Dawson | Bloomberg | Getty Images A lock screen from a cyber attack warns that data files have been encrypted on a laptop computer in this arranged photo. Ransomware is the 21st century’s answer to extortion and the number of cyberattacks involving the malicious software is surging, according to the chief executive of McAfee.
Macy’s turnaround plans are taking hold, marking a positive sign for the overall retail industry, and the company expects the momentum to continue into 2018. In an interview Tuesday with CNBC, CEO Jeff Gennette said same-store sales were up 3 percent in January, as the company had fresher merchandise in stores and less carryover from
SeaWorld Entertainment posted a fourth-quarter loss of $20.4 million and says CEO Joel Manby is stepping down. John Reilly, the chief parks operations officer, will take over on an interim basis. On a per-share basis, the Orlando, Florida, company had a loss of 24 cents, which is worse than the per-share loss of 18 cents
BBC News via AP This framegrab made available by the BBC on Monday May 2, 2016 shows creator of the Bitcoin, Craig Wright speaking in London. In 2011, the pair founded a Florida-based firm called W&K Info Defense Research LLC, which was engaged in bitcoin mining and software development and research. Kleiman owned between 50
Toll Brothers reported on Tuesday a first-quarter profit that beat analysts’ estimates, as it sold more luxury homes at higher prices, mainly in the Western United States. Orders, a key metric of future revenue for homebuilders, rose 19.7 percent to 1,822 homes in the reported quarter. Toll Brothers said the average price of homes increased
Cybersecurity company Palo Alto Networks’ quarterly revenue and profit topped Wall Street estimates and the company gave an upbeat third-quarter forecast, helped by better-than-expected growth in its product business. The company’s shares rose 5.1 percent to $178 after the bell on Monday. Revenue in the company’s product business, which includes firewall protection software Panorama, rose
Hedge funds have received their fair share of criticism for their hefty fees, but there are still reasons to invest in them, according to an expert. “There’s 15,000 hedge funds out there and I think 90 percent of those hedge funds aren’t worth the fees that people pay,” said Donald Steinbrugge, chief executive and founder
Standard Chartered Bank could triple its profit for 2017, thanks to rising interest rates and efforts to streamline operations, going by a Reuters poll. The London-headquartered bank is expected to report pre-tax profit of $2.978 billion for the whole of last year, nearly three times more than the $1.093 billion posted one year ago in
The Bank of Korea left its key interest rate unchanged on Tuesday, as expected, taking note ofmuted inflationary pressure and showing caution ahead of any further monetary tightening from the U.S Federal Reserve’s policy meeting on March 20-21. The Monetary Policy Board voted on Tuesday to keep the seven-day repurchase rate at 1.50 percent in
Shares of Fitbit plunged as much as 12 percent in pre-market trading Tuesday — a day after a disappointing quarterly report. Shares shed as much as 15 percent in extended trading Monday. The wearable technology company lost 2 cents per share on revenue of $571 million in the fourth quarter. Analysts polled by Thomson Reuters
Shares of gun makers follow a similar pattern. They drop in the immediate aftermath of a shooting and are mostly trading higher three months later. But data by a hedge fund analytics tool called Kensho shows the stocks of these companies are reacting differently this time. Rifle maker Sturm Ruger & Co.’s shares are down
Some projects are happening closer to the U.S. Y Combinator Research, based in Oakland, California, started a test of a basic income last year, and is raising funds to expand the research project. This year in Stockton, California, Mayor Michael Tubbs’s Stockton Economic Empowerment Demonstration will give several dozen low-income families $500 each month in
Investors should only consider cryptocurrencies such as bitcoin if they are prepared to lose everything, BlackRock Investment Institute said in its weekly report Monday. “We see cryptocurrencies potentially becoming more widely used in the future as the markets mature. Yet for now we believe they should only be considered by those who can stomach potentially
Warren Buffett’s Berkshire Hathaway wants a deal, but according to Buffett’s most recent annual letter to shareholders, it simply can’t find one that both fits its criteria and is trading at an affordable valuation. At year-end last year, Berkshire Hathaway had $116 billion in cash and short-term Treasury bills, the letter revealed. The letter outlined
Bitcoin is up several hundred percent from less than $1,000 early last year. It is the first application of blockchain technology, which eliminates the need for a third party such as a bank by creating a near-instant, permanent and secure record of transactions. The American inventor remains a supporter of the cryptocurrency, which he initially
On Monday, Buffett reiterated that he has confidence in Wells Fargo CEO Tim Sloan after a slew of negative news surrounding the bank’s fake accounts scandal. Buffett said it seems like Wells has gotten “all the cockroaches out of the kitchen” but wasn’t completely sure. Cramer said it didn’t sound like Buffett was super confident.
Have you checked your credit score recently? Probably not. Half of U.S. adults have not looked at their credit report or credit score since a huge data breach last year at credit scoring company Equifax compromised the personal information of at least 145.5 million U.S. consumers, according to a new survey. CreditCards.com’s latest study also
It’s important to think about how you to deal with the bequest versus letting it just happen, according to Mendels, because moving too quickly can result in poor decisions, such as spending it all or taking advice that may be regretted later. It can be hard to say no, he warned, so plan on how
Federated Investors’ Steve Chiavarone is not a bull who’s second guessing himself. The February correction may have rattled Wall Street, but the portfolio manager maintains the S&P 500 will muster enough momentum to climb 12 percent to 3,100 — 12 percent above Monday’s premarket level. His reason? The story of the year will ultimately be
Amid the latest stock market volatility, a renewed interest in diversification and rising inflation are putting more focus on commodities. After being regarded as moribund in recent years, the category, led by precious metals, delivered positive returns in 2017 for the second straight year in a row, as measured by the broad Bloomberg Commodity Index.
General Electric on Monday nominated three new candidates for its board of directors, ahead of a shareholder meeting in April. The candidates are former Danaher Corp. chief executive officer Lawrence Culp, ex-American Airlines CEO Thomas Horton and the former chairman of the Financial Accounting Standards Board, Leslie Seidman. GE will restate its earnings for 2016
Mexico’s securities regulator has imposed one of its biggest fines ever for market manipulation on steel company Industrias CH, owned by billionaire Rufino Vigil Gonzalez, government data showed. Industrias CH was fined 2.96 million pesos ($159,764) at the end of November for making “prohibited trades” under a law banning simulating price or volume, or effectively
While Wall Street braces for 10-Year Treasury yields to tick over 3 percent, one bond expert believes that will feel like a piece of cake compared to what may come next. Sit Investment Associates’ Bryce Doty believes investors are in “denial” over how high rates could go this year and the painful impact it could
General Electric will restate its earnings for 2016 and 2017 as it adopts a new accounting standard, according to a regulatory filing Friday. The updated accounting standard, which will take into account revenue from long-term contracts, will result in a 13 cent cut in reported earnings per share for 2016 and a cut of 16
In the Global Impact Investing Network’s survey, investment professionals — i.e., fund managers, foundations, banks — reported that their social-impact investments have either met or exceeded their expectations for both impact (98 percent) and financial performance (91 percent). At Calvert Investments in Bethesda, Maryland, where impact investors hold $11.6 billion across 27 funds, the increased
Warren Buffett believes investors do not need to be brilliant to do well in the financial markets. The Oracle of Omaha made a winning 10-year bet with Protégé Partners in Dec. 2007 that the S&P 500 would outperform a basket of fund of hedge funds. But perhaps more interesting than how a simple index fund
Warren Buffett believes investors should avoid using borrowed money to outperform. The Oracle of Omaha explained the perils of using debt and leverage in his 2017 annual letter to Berkshire Hathaway shareholders released on Saturday. “Berkshire, itself, provides some vivid examples of how price randomness in the short term can obscure long-term growth in value.
Warren Buffett’s Berkshire Hathaway on Saturday reported a record quarterly and annual profit, benefiting from a lower U.S. corporate income tax rate. Fourth-quarter net income increased roughly fivefold to $32.55 billion, or $19,790 per Class A share, from $6.29 billion, or $3,823 per share, a year earlier. Quarterly operating profit for the Omaha, Nebraska-based conglomerate
Warren Buffett’s Berkshire Hathaway is itching to do a massive acquisition, but is having a difficult time due to elevated valuations. The Oracle of Omaha explained his buying criteria for deals in his 2017 annual letter to shareholders released on Saturday. “In our search for new stand-alone businesses, the key qualities we seek are durable