Political/General News

'What are the odds?  I retire and the stock market crashes.  All my plans are upside down.'  I want to draw on my 401(k) to renovate my new home.  What options do I have?

‘What are the odds? I retire and the stock market crashes. All my plans are upside down.’ I want to draw on my 401(k) to renovate my new home. What options do I have?

Dear Quentin, I’m due to retire in two months and I have already moved to my new home in the sun. I have not sold my apartment in a major US metropolitan area on the east coast, as I wanted to see how I settled into my new life. It’s a quiet, but beautiful city …

‘What are the odds? I retire and the stock market crashes. All my plans are upside down.’ I want to draw on my 401(k) to renovate my new home. What options do I have? Read More »

What Bitcoin Could Be Worth to Fidelity.  You'll Be Surprised.

What Bitcoin Could Be Worth to Fidelity. You’ll Be Surprised.

Text size Fidelity’s push into Bitcoin is raising controversy but could be lucrative for the company. Dreamstime.com Fidelity Investments shocked the retirement industry last month with a move to make Bitcoin available in 401(k) plans. Add up the revenue that might bring in, and it starts to be less of a surprise. Fidelity is the …

What Bitcoin Could Be Worth to Fidelity. You’ll Be Surprised. Read More »

Jared Kushner's New Fund Plans to Invest Saudi Money in Israel

Jared Kushner’s New Fund Plans to Invest Saudi Money in Israel

Jared Kushner’s new private-equity fund plans to invest millions of dollars of Saudi Arabia’s money in Israeli startups, according to people familiar with the investment plan, in a sign of warming ties between two historic rivals. Affinity Partners, which has raised more than $3 billion, including a $2 billion commitment from the kingdom’s sovereign-wealth fund, …

Jared Kushner’s New Fund Plans to Invest Saudi Money in Israel Read More »

New study finds omicron no less severe than earlier variants, and not just more transmissible

New study finds omicron no less severe than earlier variants, and not just more transmissible

A new study conducted by researchers at Harvard Medical School among others has found that the omicron variant of the coronavirus that causes COVID-19 is just as severe as earlier variants, and not more transmissible but no less severe, as previously thought. The study was based on the records of 130,000 COVID patients in Massachusetts …

New study finds omicron no less severe than earlier variants, and not just more transmissible Read More »

Fed, Biden Administration Float New Lending Rules for Lower-Income Areas

Fed, Biden Administration Float New Lending Rules for Lower-Income Areas

WASHINGTON—Top US regulators proposed overhauling how banks lend hundreds of billions of dollars annually in lower-income communities, after scrapping a Trump-era revamp that had divided regulators and industry officials. The latest proposal to modernize rules for the 1977 Community Reinvestment Act, announced Thursday, aims to ensure lending to lower-income individuals and small businesses is distributed …

Fed, Biden Administration Float New Lending Rules for Lower-Income Areas Read More »

Uber's Revenue Doubles, but Stock Falls After Lyft Warns of Higher Driver Costs

Uber’s Revenue Doubles, but Stock Falls After Lyft Warns of Higher Driver Costs

Uber Technologies Inc.’s UBER -4.65% revenue more than doubled last quarter, as demand for wrinkles rebounded from the downturn caused by the Covid-19 surge late last year and the company’s food delivery grew despite restaurant reopenings. Uber issued a bullish outlook for the current quarter, but its shares fell about 5% Wednesday, triggered in part …

Uber’s Revenue Doubles, but Stock Falls After Lyft Warns of Higher Driver Costs Read More »

US Trade Deficit Widens to Record $109.8 Billion as Imports Surge

US Trade Deficit Widens to Record $109.8 Billion as Imports Surge

Inflation, supply imbalances and strong demand for imported goods widened the US trade deficit to a record in March, with clothing, computers, and vehicles driving the surge. The trade gap in goods and services widened by 22.3% in March from the prior month to a seasonally adjusted $109.8 billion, the Commerce Department said Wednesday. Before …

US Trade Deficit Widens to Record $109.8 Billion as Imports Surge Read More »

'Bubble stocks popped' but it's still not safe to buy them, says Ray Dalio, founder of world's biggest hedge fund

‘Bubble stocks popped’ but it’s still not safe to buy them, says Ray Dalio, founder of world’s biggest hedge fund

A bubble has burst for emerging tech stocks, but that doesn’t mean its safe or smart to go long those names right now, warned billionaire investor Ray Dalio. Dalio, the founder and co-chief investment officer of Bridgewater Associates, the world’s largest hedge fund, warned in January that emerging tech companies, including set-top box maker Roku …

‘Bubble stocks popped’ but it’s still not safe to buy them, says Ray Dalio, founder of world’s biggest hedge fund Read More »

Omicron caused spike in deaths in vaccinated people, analysis finds, though unvaccinated remain most at risk

Omicron caused spike in deaths in vaccinated people, analysis finds, though unvaccinated remain most at risk

The omicron variant of the coronavirus that causes COVID-19 that has swept across the US since late last year has taken a grimmer toll than earlier variants, including in people who were vaccinated and even had booster shots. That’s according to a Washington Post analysis of data from the Centers for Disease Control and Prevention, …

Omicron caused spike in deaths in vaccinated people, analysis finds, though unvaccinated remain most at risk Read More »

With interest rates rising, it's time to focus on MANG stocks instead of FAANG, according to Jefferies

With interest rates rising, it’s time to focus on MANG stocks instead of FAANG, according to Jefferies

Heading into the Federal Open Market Committee’s policy meeting, analysts at Jefferies on May 3 advised investors to avoid the popular FAANG + Microsoft group of stocks. They pointed instead to a group they named MANG. We’ll compare the two groups below. The FAANG group — Facebook holding company Meta Platforms Inc. FB, Apple Inc. …

With interest rates rising, it’s time to focus on MANG stocks instead of FAANG, according to Jefferies Read More »