U.S.-based firm Valve partnered with Chinese developer Perfect World to launch its popular online PC games store Steam in China. The company, known for popular titles like “Half-Life” and “Left 4 Dead,” announced Monday that it will establish a new company called Steam China to bring its games and other products to the world’s second-largest
Just as investors have grown accustomed to bigger market swings, one strategist says we should return to calmer trading in the back half of 2018. Jonathan Golub, U.S. equity strategist at Credit Suisse, expects a situation reminiscent of 2017, one of the smoothest periods of trading in Wall Street history. He anticipates this even as
Exxon Mobil is pushing deeper into energy trading, building a global cadre of experienced traders and beefing up risk-management systems to lift profit, according to executive recruiters and people familiar with the business. The development is a sea change for a company that has stood out from rivals by limiting its past activity out of
Cisco shares will thrive due to its pivot to a more recurring revenue business model, according to one top Wall Street firm. J.P. Morgan reiterated its overweight rating for Cisco’s stock, predicting the company’s recently announced mandatory subscription offering for networking switches will boost its profits. The firm has a “favorable outlook for Cisco’s positioning
With hurricane season under way, home buyers who plan to get flood insurance through the federal government might want to speed up their purchasing process. Unless Congress takes action, the National Flood Insurance Program will lapse at midnight on July 31. While existing policy holders would retain coverage if the program is not reauthorized, no
Sports teams and musicians can now sell tickets directly to fans through their Snapchat Stories thanks to an integration with SeatGeek. The New York-based ticket-search engine is working with Snap Inc. to enable ticket buying through the Venice, California, company’s signature app. The integration is the first ticket-buying experience in Snapchat and one of the
It’s getting harder and harder to obtain a college degree without debt — but not impossible. The average outstanding student loan tab is $34,144, up 62 percent over the last decade, according to a report by Experian. Altogether, college-loan balances in the United States have reached a record $1.5 trillion, according to a separate report
Warren Buffett is finally getting closure on a long-held investment he recently called disappointing. USG agreed to a $7 billion buyout by Germany’s Knauf after Buffett’s Berkshire Hathaway threw its support behind a shareholder uprising. Berkshire is USG’s biggest shareholder, with a stake of 31 percent, and had said earlier this year it would vote
Many retirees struggle with one big question when deciding when to claim Social Security benefits: Will the system be there for me in retirement? News last week from the Social Security Administration potentially stoked those fears. In an annual report, the Social Security Board of Trustees said the trust funds that help support the system
So you failed to take a required minimum distribution from your individual retirement account. Now you’re staring at a 50 percent penalty on the money you should have withdrawn after turning age 70½. But don’t just accept the penalty, say personal financial advisors. You may be able to get the IRS to forgive your mistake.
Many people do not anticipate receiving an inheritance, or know what to do with it when they receive it. The amount of the inheritance may even be a surprise. If you’ve recently received an inheritance, it’s probably not under the best circumstances. Dealing with paperwork regarding financial and legal issues are usually not a priority
For most aging Americans, there is no place like home. Sure, some people plan to spend their retirement in a new country, or even at sea. The vast majority of Americans, though, plan to age in place. Three-quarters of those who are ages 50 to 64 say they want to spend their golden years in
Uber and Lyft each want to be the all-encompassing transportation platform of the future, shepherding people around the world through whatever means is best suited — and the ride-hailing firms are getting close. Uber CEO Dara Khosrowshahi told CNBC last week the company wanted to be “the A-to-B platform for transportation.” Khosrowshahi said he wants
Technology-home-design hybrid Houzz is using augmented reality to help consumers visualize furniture and decor in their home — and it’s paying off in droves. In an interview with CNBC, Houzz CEO Adi Tatarko, who founded the online platform with her husband Alon Cohen in 2009, said that users of Houzz’s new 3D app are 11
John Lasseter, the animation titan who has been on leave from the Walt Disney Company since November because of what he called “missteps” that made some staff members feel “disrespected and uncomfortable,” will not return to the conglomerate. Disney said on Friday that Mr. Lasseter — the co-founder of Pixar Animation Studios who has long
The shocking deaths of iconic fashion designer Kate Spade, 55, and gifted chef and storyteller Anthony Bourdain, 61, are spurring important discussions about mental health. They are also a chilling reminder that a sudden death can affect any family. A number of the leading causes of death in the United States are events that could
New technologies for diabetes treatment are becoming essential for those who suffer from the disease, according to J.P. Morgan, and that could make companies such as Dexcom compelling investment opportunities. “The diabetes space is currently experiencing its biggest technological wave of innovation from glucose measurement (continuous glucose monitoring) to insulin dosing (insulin pumps),” analyst Robbie
President Donald Trump says he’s inclined to support a bipartisan effort in Congress to ease the U.S. ban on marijuana. Asked Friday about a proposed bill that would reshape the nation’s approach to pot, Trump said he would “probably end up supporting that.” The federal ban has created a conflict with more than two dozen
On the final day in his insurance job last week after 14 years in the sector, Donnie wore a T-shirt emblazoned with a rocket logo, the symbol for bitcoin, and the slogan “to the moon”. The phrase, one that characterises the fervour espoused by bitcoin enthusiasts who say its price knows no bounds, was fitting.
Dialog Semiconductor, which supplies power management chips for Apple‘s iPhone, is in talks to acquire Synaptics, the maker of touch-screen and display technology used in mobile devices, according to a person familiar with the matter. Bloomberg previously reported the talks. Dialog, which has a market capitalization of about $1.1 billion, is smaller than Synaptics, whose
SpaceX is looking to build several new facilities at NASA’s historic Kennedy Space Center in Florida, including a state of the art launch control center and a massive processing facility for its rockets, according to environmental impact documents filed to NASA in April. Florida Today first reported the news Friday. The documents reveal Elon Musk’s
If you still haven’t filed your 2017 federal tax return after missing the April 18 deadline and you owe Uncle Sam, here’s another date you should be aware of: June 14. After that day, most taxpayers who are in that boat will face a minimum penalty of $210. “You can avoid some penalties by at
EU antitrust regulators are set to approve U.S. cable company Comcast’s bid for European pay-TV company Sky without demanding concessions, two people familiar with the matter said on Friday. Comcast is battling Rupert Murdoch’s Twenty-First Century Fox for Sky. The media mogul’s bid to buy all of Sky has been delayed by politicians and regulators
Warning signs in today’s tech sector are reminiscent of the dotcom boom of the late 1990s that eventually went bust, market veteran Jim Paulsen told CNBC on Friday. The current “character and attitude of the marketplace” are similar to the belief then that “tech can’t lose,” said the chief investment strategist at The Leuthold Group.
Bill Ackman’s hedge fund notched a double-digit gain in May, getting a boost from investments like Lowe’s, Chipotle Mexican Grill, and Automatic Data Processing. Pershing Square Holdings’ 10.3 percent net return last month was its second-best month since 2014, while its 7.5 percent gain through June 5 was notably higher than the broader market’s 3
General Electric’s board of directors issued a quarterly dividend of 12 cents per share to the company’s stockholders, GE announced Friday. Investors breathed a sigh of relief that the dividend is safe…at least for this current quarter. Fears of a second diviend cut for the widely owned blue chip company has weighed on the shares.
KFC is joining the healthier food trend by testing vegetarian fried chicken. Foodbeast reports that it would be the first vegetarian fried chicken offered by a big-name quick-service chain. Louisville-based KFC will test the product in the United Kingdom, and Foodbeast says smaller restaurants there, such as Temple Seitan, are famous for their versions of
The economic effect of President Donald Trump‘s $1.5 trillion tax cut and $300 billion bump in federal spending will wear off in two years and then “in 2020 Wile E. Coyote is going to go off the cliff,” former Federal Reserve Chairman Ben Bernanke said this week. The stimulus is coming at “the very wrong
Alibaba affiliate Ant Financial is now reportedly worth more than Goldman Sachs, thanks largely to dominance in two trends that have swept China: mobile payments and money market funds for consumers. Ant Financial announced Friday Beijing time that it raised about $14 billion. The funding values the company at around $150 billion, The Wall Street
With the summer travel season heating up, many vacation-home owners get to look forward to some extra income from renting out their slice of paradise. These part-time landlords need to remember that in many cases, the Internal Revenue Service expects to hear about that extra cash. Generally speaking, if you rent your vacation home for