Month: September 2017

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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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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Who uses the mortgage interest deduction, by income 0 to $50,000 2.32 million $1.11 billion $50,000 to $100,000 9.77 million $9.19 billion $100,000 to $200,000 14.6 million $24.85 billion $200,000 & up 7.18 million $29.78 billion Totals: 33.87 million $64.93 billion Source: 2016 data from Joint Committee on Taxation report. *Income ranges include AGI plus
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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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The Securities and Exchange Commission’s fraud case against investor Lynn Tilton was dismissed, CNBC has confirmed. Tilton has been fighting a two-year-old SEC administrative case that accused her of misleading investors about the value of loan pools, and collecting $200 million in extra management fees. Tilton’s firm, Patriarch Partners, invested in distressed private equity assets,
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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 rally involving financial stocks, particularly the banks, typically means the economy is healthy, Cramer said. It means that more money is being lent, employment is healthy, and small businesses are confident. It also signals that job-creating commercial real estate projects are imminent, the government’s budget could improve and that more financial activity, particularly mergers
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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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President Donald Trump’s decision to withdraw from the Paris climate deal has “ignited” widespread environmental activism, Bob Geldof said Wednesday. The Live Aid benefit concerts organizer labeled Trump “a vulgar fool” and said Trump’s stance on climate change has encouraged several U.S. states to do more to address the issue. Geldof, who is known for
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Morgan Stanley CEO James Gorman sees more potential in bitcoin and other digital currencies than his counterpart at JPMorgan. Cryptocurrencies are “certainly something more than just a fad,” Gorman said at a Wall Street Journal event Wednesday. That contrasts with JPMorgan Chase CEO Jamie Dimon’s remarks earlier this month that bitcoin is a “fraud” and
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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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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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The imposition of tariffs ups the pressure on May’s minority Conservative government which depends on backing from the small Northern Irish Democratic Unionist Party (DUP) for their majority control of the British parliament. Bombardier is the single largest manufacturing employer in Northern Ireland. The DUP’s leader Arlene Foster said the ruling was not the end
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China is “quite serious about living up to the commitments they have made regarding North Korea,” U.S. Commerce Secretary Wilbur Ross said on Wednesday. The order for mainland lenders to stop doing business with Pyongyang “is a logical next step in the sanctions, and a very important one,” he told CNBC’s “Squawk Box.” “Chinese commercial
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