Month: January 2019

Super-wealthy investors are making some changes to their portfolios for 2019. They are increasing their cash holdings and reducing their equity exposure. They are also cutting back on some of their real estate investments and finding a “short-term solution” in fixed income, according to Michael Sonnenfeldt, founder of investment club Tiger 21. “There’s a lot
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Economist Larry Summers has advised Democratic presidents, but he’s not ready to jump behind Democratic Sen. Elizabeth Warren’s proposed wealth tax. Warren, of Massachusetts, is a prominent voice in the party’s liberal wing and is exploring a run for president. Her proposal, which she is calling an ultra-millionaire tax, would apply to Americans with more
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Wheels Up has hired bankers for “strategic initiatives” that could include acquisitions, the company’s CEO told CNBC. “We have hired advisors to assist us with our pursuit of strategic initiatives that include exploring acquisition opportunities and expansion of our digital platform,” Wheels Up CEO Kenny Dichter told CNBC in a statement Wednesday evening. “Our plan
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A collection of skateboard decks sold at Sotheby’s Friday to a Vancouver collector for $800,000. Sotheby’s announced Friday morning that a young Vancouver collector, named Carson Guo, bought the set of 248 skate decks made by Supreme. The collection included all of the decks produced by Supreme between 1998 and 2018. It is the highest
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Another two major U.S. companies blamed China for weaker earnings — construction machinery giant Caterpillar and chipmaker Nvidia — and their shares both plunged on Monday because of it. Goldman Sachs had warned clients about companies with big international sales in a note on Friday, especially those with big revenues from China. It specifically warned
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More doesn’t always mean better, especially when it comes to streaming services. As more people cut the cord and sign-up for non-traditional cable options, companies like Netflix, Hulu and Amazon Prime have to make their offerings more enticing to consumers. While many customers have subscriptions with multiple services, these streaming platforms still have to remain
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More investors are feeling jittery about the market. And their No. 1 concern is the political landscape in Washington. That’s according to the latest retail investor sentiment report released by Charles Schwab. The results are based on an online survey conducted in December, before the partial federal shutdown, which began on Dec. 22 and lasted
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Stocks may be on the brink of another correction. Despite 2019’s strong start, the Economic Cycle Research Institute’s Lakshman Achuthan believes the market remains in a danger zone, because there’s evidence economic growth is still decelerating. “The elephant in the room remains the cyclical slowdown. And, as long as that slowdown is in play… the
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Saudi Arabia is seeking to attract 1.6 trillion riyals (nearly $429 billion) in private sector investment over the next 10 years for a landmark infrastructure and industrial program as part of its economic diversification campaign, Energy Minister Khalid al-Falih announced Saturday. The plan aims to channel investments through the National Industrial Development and Logistics Program,
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Bank of America-Merrill Lynch believes it’s premature to call an end to the market correction. Although stocks on Friday closed out 5 straight weeks of gains, Stephen Suttmeier, the firm’s chief equity technical strategist, is telling investors that stocks are still in the throes of a cyclical bear market. According to Suttmeier, the S&P 500
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Former Starbucks Chairman and CEO Howard Schultz, who is launching a book tour next week, is reportedly giving serious consideration to running for president in 2020 as an independent candidate, The Atlantic reported on Saturday. With the field of contenders to challenge President Donald Trump growing daily, Schultz is set to give an interview on
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