Category: Economy

Rich Retirees Hoarding Cash Out of Fear…

There’s a time in everyone’s life to save. There’s also a time when you’re supposed to spend. That time is commonly known as retirement. Millions of Americans aren’t doing that, however, which has put the U.S. in a perverse situation. Younger generations aren’t saving enough as their income slips further behind previous generations. Older Americans meanwhile sit atop unprecedented piles of assets built through stock market and real estate booms. Yet these retirees, or at least the affluent ones, aren’t spending it. It turns out they’re afraid of the unknown. A new study finds many U.S. retirees keep saving...

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Facebook Shares Drop As Ad Growth Slows

Facebook executives have warned investors about overestimating sales growth prospects, stating that the platform is limited by the number of ads that they can display. Bloomberg reports that following a conference call related to their first-quarter earnings report, Facebook stated that they were expecting revenue growth to be down “meaningfully” once the company decreases the number of advertising spots in users news feeds over fears that advertising saturation on the platform may affect user experience. As a result, Facebook shares fell as much as 4.2 percent despite first-quarter sales beating estimates and a 17 percent increase in monthly users to 1.94 billion....

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Plunging oil prices and energy companies hit stock indexes

NEW YORK (AP) — Oil prices are plunging again Thursday and energy companies are taking sharp losses. While most U.S. stocks are falling in afternoon trading, major indexes are little changed. Health insurers are a bit higher and hospitals are lower as the House passes a bill intended to roll back much of former President Barack Obama’s health care law. KEEPING SCORE: The Standard & Poor’s 500 index remained at 2,388 as of 2:30 p.m. Eastern time. The Dow Jones industrial average lost 18 points, or 0.1 percent, to 20,939. The Nasdaq composite was also stable at 6,072. The...

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Apple CEO Pledges $1 Billion Towards Creation of US Manufacturing Jobs

Apple CEO Tim Cook announced Wednesday that his company is investing $1 billion in the creation of US manufacturing jobs. Speaking to Mad Money host Jim Cramer on CNBC, Apple CEO Tim Cook announced that the company would be creating a $1 billion fund to promote advanced manufacturing jobs across America. “We’re announcing it today. So you’re the first person I’m telling,” said Cook to Jim Cramer on Wednesday. “Well, not the first person because we’ve talked to a company that we’re going to invest in already.” Apple will reportedly announce their first investment in May. “We’re announcing it today....

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Poll: Since Trump Took Office People Who Believe Economy Is Getting Better Highest in 15 Years

A new Washington Post-ABC News poll shows that since President Donald Trump took office on January 20 the number of people who believe the economy is improving is at the highest level in 15 years, ThePost reported on Sunday. The Post leads its poll story saying the poll also shows Trump “as the least popular chief executive in modern times,” but despite that the poll also shows positive reaction to the president’s first 100 days in office — that number is reached next Saturday. “Trump’s first months in office have produced some tangible successes,” the Post reported. “Beyond the...

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