Samsung Electronics Co. is planning a major investment to expand its U.S. production facilities, according to people familiar with the matter, with at least five states in discussions. The initial capital investment is expected to be around $300 million, several of the people said, with Samsung shifting some production of oven ranges to the U.S. from Mexico. The move could generate around 500 jobs, those people said. Talks are continuing and no final decisions have been made, with a start date for oven-range production still undetermined, the people said, so the details may change. In subsequent years, Samsung could eventually ramp...Read More
A unit of the digital cryptocurrency Bitcoin has exceeded the value of an ounce of gold for the first time. It closed at $1,268 on Thursday while a troy ounce of gold stood at $1,233. The current high is being attributed to surging demand in China, where authorities warn it is used to channel money out of the country. The past months’ surge is a major reversal for Bitcoin, which plummeted in value in 2014 after the largest exchange collapsed. The value of Bitcoin has been volatile since it was first launched in 2009, and many experts have questioned...Read More
Target reported sales and earnings that missed Wall Street’s expectations on Tuesday, in what was a disappointing holiday quarter for the big-box retailer. Its outlook for fiscal 2017 also fell well short of expectations. Target’s stock price sank more than 13 percent in early trading, putting it on pace for its worst day since Aug. 31, 1998, when the company shed more than 16 percent. Here’s how the company did: —EPS: $1.45 per share, excluding items, versus $1.51 per share expected by Thomson Reuters analysts’ consensus. —Revenue: $20.69 billion versus $20.7 billion expected by Thomson Reuters. —Same-store sales: A...Read More
In late December the US Congress lifted a 40 year ban on exporting oil. By late January the first shiploads of oil were off to Europe. Now it is reported that the US has turned into an ‘oil nation’ with record exports, ‘eating’ away at OPEC’s market share: The U.S. exported a record amount of crude oil, topping a million barrels a day for a second week and filling the gap in world markets created by OPEC cutbacks. Shale and other U.S. producers sent 1.2 million barrels of crude oil onto world markets last week, up nearly 200,000 barrels...Read More
DOW JONES BREAKS STOCK RECORD— 11th straight closing where the DOW reached an all time high ** 16th consecutive day where the DOW reached an all time high (when including weekends and holidays) Dow up 11.44 Points! The Dow Jones Industrial Average (DOW) hit another record new high on Thursday! It was the 10th straight daily market close where the DOW set a new stock market high. This incredible rally started back on February 9th. In the history of the DOW, going back to January 1901, the DOW record for most continuous closing high trading days was set in January of 1987 when Ronald Reagan was...Read More
Subscribe To Our Newsletter
Join our mailing list to receive the latest news and updates.