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Banks Can Treat Hemp Industry Like Normal Companies

Banks Can Treat Hemp Industry Like Normal Companies

United States regulators have clarified that hemp businesses should not be treated with any more suspicion than other bank customers. In a joint statement, the Federal Reserve, the Office of the Comptroller of the Currency, the... 
Gender Bias Allegations Swirl Around Apple Card

Gender Bias Allegations Swirl Around Apple Card

Apple Inc. (NASDAQ: AAPL) and Goldman Sachs Group Inc. (NYSE: GS) are under fire after allegations of gender bias were levied against the companies by customers who applied for the Apple Card. The Apple Card is branded and marketed... 
Changes Made To Retirement Account Limits

Changes Made To Retirement Account Limits

Americans will be able to save a bit more in some of their retirement accounts next year. The Treasury Department has announced inflation-adjusted figures for retirement account savings for 2020. Here are some of the changes to... 
Virgin Galactic Debuts On NYSE

Virgin Galactic Debuts On NYSE

Virgin Galactic stock has begun trading publicly on the New York Stock Exchange, becoming the first big name in the fledgling space startup industry to make the leap into the public markets. The company’s billionaire founder,... 
Student Pleads Guilty To Frat House Ponzi Scheme

Student Pleads Guilty To Frat House Ponzi Scheme

A former University of Georgia student has pleaded guilty to a single count of securities fraud for running a million-dollar Ponzi scheme from his Athens fraternity house. The student, 22-year-old Syed Arham Arbab, admitted to... 
Global Effort To Tax Multinational Businesses In Works

Global Effort To Tax Multinational Businesses In Works

A global economic body has proposed a plan to prevent large multinational companies like Apple, Facebook, and Amazon from avoiding taxes in countries where they do significant business by shifting profits between countries. The... 
American Express Says Changes Coming To Delta SkyMiles Cards

American Express Says Changes Coming To Delta SkyMiles Cards

Fee increases and changes in benefits are coming soon to consumer and business Delta American Express cards. American Express announced the upcoming relaunch of the cards starting January 30, 2020. There are also new limited time... 
JP Morgan Creates ‘Volfefe Index’ To Track Financial Effects Of Trump Tweets

JP Morgan Creates ‘Volfefe Index’ To Track Financial Effects Of Trump Tweets

President Donald Trump is tweeting more and it’s affecting the bond market. Since his election in 2016, Trump has averaged more than 10 tweets a day to his nearly 64 million followers. Early on in his tenure, Wall Street seemed... 
Apple Launches The Apple Card For U.S. Customers

Apple Launches The Apple Card For U.S. Customers

The Apple Card, a new kind of credit card created by Apple, is now available in the United States. Apple is partnering with Goldman Sachs as its issuing bank and with MasterCard to provide the support of a global payments network.... 
General Electric Settles Subprime Loan Charges For $1.5 Billion

General Electric Settles Subprime Loan Charges For $1.5 Billion

General Electric Co. (NYSE: GE) has reached a settlement with the U.S. Department of Justice to pay a $1.5 billion civil fine to resolve claims that the company overstated the quality of loans packaged into residential mortgage-backed... 
Several Changes Coming To The Tax Filing Process

Several Changes Coming To The Tax Filing Process

Several changes to the tax filing process will be coming in the next year. The reforms are the result of changes to the tax code implemented by the Trump Administration for the 2018 tax year. The rollout of the tax reforms has... 
Some Taxpayers Getting Penalty Relief From The IRS

Some Taxpayers Getting Penalty Relief From The IRS

Taxpayers facing unexpected penalties following the implementation of the Tax Cuts and Jobs Act are getting some relief from the Internal Revenue Service. Typically, taxpayers pay fines if they don’t pay at least 90 percent of... 
Nike’s Shares Fall After Miss On North American Revenue

Nike’s Shares Fall After Miss On North American Revenue

Despite posting better-than-expected earnings results, Nike Inc. (NYSE: NKE) shares fell after the company reported North American sales that fell short of consensus expectations. Sales in North America, Nike’s largest market,... 
Levi Strauss & Company Goes Public Once Again

Levi Strauss & Company Goes Public Once Again

Levi Strauss & Company has started trading publicly again, listing its shares under the ticker LEVI on the New York Stock Exchange. Shares opened at more than 30 percent above the company’s IPO price of $17, setting the... 
Gap Inc. To Spin Off Old Navy

Gap Inc. To Spin Off Old Navy

Gap Inc. (NYSE: GPS) has made the surprising announcement that it will soon break into two companies. The Old Navy brand will be spun off as a separate company from Gap’s remaining brands, which will be held under a yet-to-be-named business... 
Walmart Posts Surprising Results For Fourth Quarter

Walmart Posts Surprising Results For Fourth Quarter

Walmart Inc. (NYSE: WMT) posted surprisingly strong results for its holiday quarter. For the fourth quarter of fiscal year 2018, the company reported adjusted earnings per share of $1.41, ahead of analysts’ estimates of $1.33.... 
Finland’s Basic Income Trial Produces Mixed Results

Finland’s Basic Income Trial Produces Mixed Results

A two-year government experiment in Finland has found that giving residents a guaranteed income produces mixed results. The trial found that the guaranteed money made the recipients happier, but didn’t make them more likely... 
$190 Million In Clients’ Money Stuck After Crypto Exchange Founder Dies

$190 Million In Clients’ Money Stuck After Crypto Exchange Founder Dies

In a bizarre turn of events, Canadian cryptocurrency exchange QuadrigaCX says that most of $190 million in client holdings are stuck in cold storage after the exchange’s founder died without disclosing the only passwords to... 
Highly Sensitive Documents Exposed In Loan Data Leak

Highly Sensitive Documents Exposed In Loan Data Leak

A massive data leak of mortgage and loan data has exposed highly sensitive information from tens of thousands of people who obtained loans and mortgages over the past decade. The leaked documents include financial agreements between... 
Newmont Mining Planning To Acquire Goldcorp

Newmont Mining Planning To Acquire Goldcorp

Newmont Mining (NYSE: NEM) has announced its intentions to buy smaller rival Goldcorp (NYSE: GG) in a deal valued at $10 billion. According to published reports, Newmont is offering 0.3280 of its shares and $0.02 for each Goldcorp... 
J.C. Penney Reports Disappointing Holiday Sales Numbers

J.C. Penney Reports Disappointing Holiday Sales Numbers

J.C. Penney Co. (NYSE: JCP) announced that its holiday sales fell more than expected during the crucial holiday season period. The company reported that its same-store sales fell 3.5 percent on an adjusted basis for the nine weeks... 
Abercrombie & Fitch Delivers Strong Results For Third Quarter

Abercrombie & Fitch Delivers Strong Results For Third Quarter

Abercrombie & Fitch (NYSE: ANF) reported quarterly earnings and sales for the third quarter of its fiscal year that topped Wall Street expectations. CEO Fran Horowitz was happy with the results, saying during the earnings announcement,... 
Latest Investment Round For Epic Games Boosts Valuation To $15 Billion

Latest Investment Round For Epic Games Boosts Valuation To $15 Billion

Epic Games, the creator of video game sensation “Fortnite”, has completed its latest investment round with a valuation of nearly $15 billion. The value of the firm has risen threefold in six months. The company was estimated... 
Installment Financing Now Available From Square

Installment Financing Now Available From Square

A new service from Square allows its small business sellers to offer financing to their customers. The service is called Square Installments and it is being run out of Square Capital, a subsidiary of Square that also offers cash advances... 
Walmart Buys Online Retailer Eloquii For Undisclosed Amount

Walmart Buys Online Retailer Eloquii For Undisclosed Amount

Plus-sized online retailer Eloquii has reached a deal to be acquired by Walmart (NYSE: WMT). The terms of the all-cash deal were not disclosed to the public. The deal is expected to close later this quarter. Eloquii is considered to... 
Argentina Announces New Measures To Slow Currency Collapse

Argentina Announces New Measures To Slow Currency Collapse

Argentina has announced a series of new austerity measures to grapple with the collapse of its currency. Those measures include getting rid of half of its government ministries and hiking taxes on exports. The ministries that would... 
Tax Deduction Limits To Be Reinforced With New Rules

Tax Deduction Limits To Be Reinforced With New Rules

The Internal Revenue Service and Treasury Department have proposed new rules meant to block schemes by high-tax states to help their residents avoid new limits on state and local tax (SALT) deductions. The tax overhaul passed by President... 
Home Depot 2nd Quarter Results Beat Expectations

Home Depot 2nd Quarter Results Beat Expectations

Home Depot Inc. (NYSE: HD) beat Wall Street forecasts for earnings and revenue for the second quarter of its fiscal year. The company reported that net earnings rose to $3.5 billion or $3.05 per share in the three months ended July... 
Facebook Loses Nearly $120 Billion In Single Day

Facebook Loses Nearly $120 Billion In Single Day

In its biggest loss of its history, Facebook shares have tumbled nearly 20 percent, wiping out about $120 billion in market value. The company’s previous worst single-day performance was on July 27, 2012, when the stock fell... 
New Canadian Tariffs On US Goods Begin July 1

New Canadian Tariffs On US Goods Begin July 1

Canada will impose about $12.6 billion worth of retaliatory tariffs on United States goods on July 1. The announcement by Foreign Minister Chrystia Freeland was accompanied by a list of affected products by the Department of Finance.... 
Supreme Court Sides With States On Online Sales Taxes

Supreme Court Sides With States On Online Sales Taxes

Consumers can expect to see sales tax charged on more online purchases after a recent Supreme Court decision. States will now be able to force more people to pay sales tax when they make purchases online. The decision is a big financial... 
Study Says Bitcoin’s Record Price Manipulated

Study Says Bitcoin’s Record Price Manipulated

A new study is claiming that the sky-high prices hit by Bitcoin last year were the result of market manipulation. Bitcoin hit a near-$20,000 high in December last year, but has dropped to nearly $6,100 this week – the lowest... 
Changes To Volcker Rule To Ease Bank Regulations

Changes To Volcker Rule To Ease Bank Regulations

Federal bank regulators are eyeing changes to soften the Volcker Rule, part of the broader Dodd-Frank law aimed at curbing risky behavior on Wall Street in the wake of the 2008 financial crisis. Since its implementation, Wall Street... 
Apple To Use Share Buybacks To Satisfy Investors

Apple To Use Share Buybacks To Satisfy Investors

Apple (NASDAQ: AAPL) is expected to announce plans to return between $100 billion and $150 billion to shareholders through an expansion of its share buyback program and an increase in its dividend. Analysts are predicting that Apple... 
Credit Card Receipt Signatures Becoming A Thing Of The Past

Credit Card Receipt Signatures Becoming A Thing Of The Past

The act of signing your signature to a credit card receipt is becoming a thing of the past. Visa, American Express, Discover and Mastercard have all said that they will no longer require customers to sign their names to credit card... 
Bank Of America Ends Lending To Assault Rifle Manufacturers

Bank Of America Ends Lending To Assault Rifle Manufacturers

Bank of America Corp. (NYSE: BAC) will stop lending to companies that make assault-style guns for the general public. Anne Finucane, a vice chairman at Bank of America, said, “It’s our intention not to finance these military-style... 
Tesla Investors Suing Over SolarCity Deal

Tesla Investors Suing Over SolarCity Deal

A Delaware judge has ruled that a lawsuit by Tesla Inc. (NASDAQ: TSLA) investors challenging the acquisition of SolarCity Corp. may proceed. Delaware Chancery Court Judge Joseph Slights concluded Musk being Tesla’s founder, CEO and... 
Cryptocurrency Exchange Pricing Glitch Stokes Concerns

Cryptocurrency Exchange Pricing Glitch Stokes Concerns

A recent glitch at Japanese cryptocurrency exchange Zaif created a situation that caused an error with its price calculation system. As a result, some users were able to buy digital currencies for free. One of the parties allegedly... 
Home Depot Tops Expectations For Fourth Quarter

Home Depot Tops Expectations For Fourth Quarter

Home Depot’s (NYSE: HD) fourth-quarter earnings and sales topped Wall Street’s expectations. Home Depot reported net income for the fourth quarter of fiscal 2017 of $1.8 billion, or $1.52 a share, compared with $1.7 billion,... 
Equifax Breach Deeper Than Originally Thought

Equifax Breach Deeper Than Originally Thought

New documents given to lawmakers show that the hack of Atlanta-based Equifax Inc. (NYSE: EFX) exposed more of consumers’ personal information than the company originally disclosed. The company previously said that the stolen... 
General Electric Under SEC Investigation

General Electric Under SEC Investigation

A $10 billion quarterly loss has apparently sparked a Securities and Exchange Commission investigation into General Electric’s (NYSE: GE) financial accounting. The investigation initially began in late November and focused on long-term... 
General Electric Takes $6.2 Billion Charge For Finance Unit

General Electric Takes $6.2 Billion Charge For Finance Unit

General Electric (NYSE: GE) has announced it will take a $6.2 billion charge in the fourth quarter of the fiscal year to pay for lingering problems in its GE Capital unit. G.E. said it was making the move after conducting a review... 
Sam’s Club Locations Closing Across America

Sam’s Club Locations Closing Across America

Walmart (NYSE: WMT) has announced it will be closing 63 of its Sam’s Club locations across the U.S. The company released a statement saying, “After a thorough review of our existing portfolio, we’ve decided to close a series... 
Car Sales in UK Slump Thanks to Brexit

Car Sales in UK Slump Thanks to Brexit

Car buyers in Britain are experiencing empty tanks. UK new car sales slumped during 2017, down almost 6% from 2016 record levels, and Brexit has been blamed for much of the drop that is the first annual decline in seven years. A member... 
Barclays Expecting Write Down of $1.3 Billion from Tax Reform

Barclays Expecting Write Down of $1.3 Billion from Tax Reform

British bank Barclays is expecting a write down of more than £1 billion equal to $1.34 billion on annual after tax profit due to the U.S. tax reform, said the bank in Wednesday in a prepared statement. The reform to U.S. tax system... 
People Continue Spending, But Stores Remain in Trouble

People Continue Spending, But Stores Remain in Trouble

Across the U.S. stores are closing at unprecedented rates. Retailers are filing bankruptcy and malls are slowly becoming ghost towns. However, while the physical brick and mortar stores continue to struggle, consumers are spending... 
General Electric Cutting 12,000 Jobs in Revamp of Power Business

General Electric Cutting 12,000 Jobs in Revamp of Power Business

On Thursday, General Electric said it was cutting 12,000 jobs at its worldwide power business, the latest effort by the industrial conglomerate that continues to struggle as it shrinks itself into a company with more focus. The company,... 
Nestle Buying Atrium Innovations in Deal Worth $2.3 Billion

Nestle Buying Atrium Innovations in Deal Worth $2.3 Billion

Nestle will acquire Atrium a vitamin maker based in Canada at the cost of $2.3 billion, expanding its consumer healthcare presence as it attempts to offset continued weakness in the packaged foods’ industry. The largest package foods... 
Tiffany Sales and Profit Top Expectations

Tiffany Sales and Profit Top Expectations

Tiffany & Co the jeweler saw its sales and profit exceed market expectations thanks to strong demand for high-end solitaire and fashion jewelry in its first full three-month period under new CEO Alessandro Bogliolo. Tiffany, whose... 
Comcast Enters Bidding War for Media Assets of 21st Century Fox

Comcast Enters Bidding War for Media Assets of 21st Century Fox

Comcast Corp. joined the pursuit of entertainment assets for 21st Century Fox the multimedia giant owned by media mogul Rupert Murdoch. Comcast expressed interest in acquiring the movie studio of Fox based in Los Angeles, its sports...