• 5 takeaways from Apple's stark China warning

    5 takeaways from Apple's stark China warning

    Markets

    Apple's shares were briefly suspended on Wednesday night, and in post-market trading fell by up to 8pc, wiping nearly $60bn off its value. Apple's decline dragged down the Dow Jones Industrial Average index on Thursday. Cook blamed the lowered forecast on several different factors, including the timing of its latest generation iPhone launches , a strong USA dollar creating foreign exchange headwinds, supply constraints, and economic weakness in some emerging markets.
  • Government shutdown could mean delayed tax returns

    Government shutdown could mean delayed tax returns

    Markets

    Only 12 percent of its staff are working (without pay), mostly focused on security and technology. The likelihood of this delay shouldn't stop you from filing early through. And during shutdowns, only a fraction of IRS employees work. "As an accountant, I'd like to have the direct absolute correct answer before I sign my name to a return", said Fortine.
  • Wall St. jumps after jobs report, Powell comments

    Wall St. jumps after jobs report, Powell comments

    Markets

    Stocks in the U.S. spiked after the remarks, made at a meeting of the American Economic Association. Trump has slammed Powell for rate hikes, meant to keep the economy from overheating, and last month polled advisers about whether he could fire the Fed chief, according to multiple reports.
  • Apple to Miss Sales Expectations, Dow takes a Hit

    Apple to Miss Sales Expectations, Dow takes a Hit

    Markets

    FORECAST CUT Apple on Wednesday lowered its forecast to $84 billion in revenue for its fiscal first quarter ended December 29, below analysts' estimate of $91.5 billion, according to IBES data from Refinitiv. Cook's letter rattled investors, with analysts calling it a " bombshell ". "The iPhone is something that everyone knows and buys, and if people aren't buying it, then it's a pretty good sign they're having a hard time".
  • Tim Cook will host meeting for all Apple employees to talk iPhone

    Tim Cook will host meeting for all Apple employees to talk iPhone

    Markets

    A chunk of this year's worldwide sales decline for iPhone and iPad occurred in China , according to Cook's letter . And just a few days after Geekbench's report was published, Apple said that it was, in fact, throttling the performance of older iPhones to prevent them from shutting down unexpectedly.
  • Tesla shares go into reverse on missed deliveries and price cuts

    Tesla shares go into reverse on missed deliveries and price cuts

    Markets

    With Musk having generally reigned in his own behavior and the company's Model 3 production figures much closer to weekly production targets, the alarm bells that were ringing six months ago have quieted considerably. Tesla disappointed investors Wednesday, delivering 90,700 vehicles during the fourth quarter, which fell short of Wall Street forecasts despite its efforts to ramp up production.
  • Minimum Wages Rising In 20 States And Several Cities

    Markets

    Each will eventually boost its minimum wages to at least $12 and as much as $15 an hour by phasing in the change. South Dakota is one of 20 states that are raising minimum wages for 2019. The minimum wage in Korea is calculated by dividing the monthly salary by the number of working hours. In 2020, it will increase again to $15 per hour.
  • US, China to meet on trade, tariffs

    US, China to meet on trade, tariffs

    Markets

    In recent weeks, US and Chinese officials have spoken by phone, but next month's meeting would be the first in-person talks since President Trump met with his Chinese counterpart, Xi Jinping , in Buenos Aires on December 1. "The Chinese and USA economic and trade teams have always maintained close communication", said commerce ministry spokesman Gao Feng at a regular briefing.
  • Sears closing 80 more stores -- 2 in MI

    Sears closing 80 more stores -- 2 in MI

    Markets

    Sears is closing 80 more stores. A hedge fund controlled by Sears chairman Eddie Lampert is offering $4.6 billion. A manager at the Kmart in Fostoria declined to answer questions, such as how many people are employed at the store. As originally outlined, his plan would be partly funded by swapping the debt he holds for full ownership of the company. Last week, a bankruptcy court allowed Sears Holdings to sell its home improvement service businesses to Service.com for $60 million.
  • Transformer explosion at NYC power plant lights up night sky

    Transformer explosion at NYC power plant lights up night sky

    Markets

    Transformers, like the one that produced the bright light in Queens , change the electricity flowing through them into different voltages. Minutes later, the New York Police Department Chief Terence Monahan said the incident was under control , and said no injuries were reported .
  • U.S. Stocks Drop Sharply Amid Continued Volatility

    U.S. Stocks Drop Sharply Amid Continued Volatility

    Markets

    Social media exploded after Monday's crash. Volatility has been the norm in December. The S&P 500 Index, the Dow Jones and Nasdaq all recorded small gains in morning trading. OIL: Benchmark US crude added 1.4 percent to $43.11 a barrel in NY. U.S. Treasury yields also reversed direction after rising sharply on Wednesday, dropping three basis points to 2.765 per cent.
  • Dow Surges 1000+ Points, Largest Single-Day Gain Ever

    Dow Surges 1000+ Points, Largest Single-Day Gain Ever

    Markets

    A day earlier, Trump claimed there is a buying opportunity for stocks. The three major US indexes all posted their biggest one-day percentage gains since March 2009, in the first day of trading following the Christmas holiday, when the market was closed.
  • Oil rebounds from steep slide but growth fears still weigh

    Oil rebounds from steep slide but growth fears still weigh

    Markets

    With most authorities forecasting a slowdown in its growth next year, the concern about how crude oil demand will be faring in 2019 is only to be expected. "Most major economies are likely to see decelerating activity, with real GDP growth of 1.4 percent in both Europe and Japan, and 4.6 percent growth in aggregate among the emerging markets", BofA Merrill Lynch said recently.
  • Businesses open on Christmas Day

    Businesses open on Christmas Day

    Markets

    Christmas Day . Some grocery stores are closed all day for the holiday, period. The last day for free same-day shipping is Monday, December 24. The one big exception is Christmas: Walmart is closed on December 25 every year. Kohl's: Kohl's is open until 6 p.m. Christmas Eve . Christmas Eve and Christmas day are some of the slowest holidays of the year. The Lanspeary Lions and Charles Clark Square outdoor skating rinks will close for Christmas Day and New Year's Day .