The shocking truth: In Silicon Valley wages are down for everyone but the top 10%

The shocking truth: In Silicon Valley wages are down for everyone but the top...

In 1990, 22.5 percent of all workers in Silicon Valley were in high tech, whereas 4.6 percent of people working in low-wage service occupations were employed by high-tech companies. By 2016 employment in high tech increased 25.3 percent of all workers in the valley, but low-wage workers employed by high-tech companies dropped to 2 percent.…
Best Buy shares drop after Bank of America downgrades to sell on slowing sales of TVs, iPhones

Best Buy shares drop after Bank of America downgrades to sell on slowing sales...

Best Buy shares dropped on Monday after Bank of America Merrill Lynch downgraded the stock to underperform (the firm's equivalent of a sell rating), citing slowing sales of electronics, including the iPhone. The firm cited "deceleration in industry growth trends and continued caution on key product categories such as TVs, Apple products and gaming," stated…
Supreme Court, missing a justice, considers a trucking case that could rattle the economy

Supreme Court, missing a justice, considers a trucking case that could rattle the economy

The case turns on whether Oliveira was properly categorized as an independent contractor, and, if so, whether he is entitled to a court hearing on his claims or if he must submit to arbitration. Arbitration is generally preferred by employers as a more efficient dispute resolution mechanism, although critics say it can serve as a…
How to save for retirement when you have student loans

How to save for retirement when you have student loans

If you do have to weigh one financial priority against another, compare the interest rate you are paying on your student loans versus the return you would expect to earn on your retirement investments. If the after-tax interest rate on the loan is higher than the expected return on the savings, you may want pay…
America’s wealthy aren’t acting like they believe we’ve seen the market bottom

America’s wealthy aren’t acting like they believe we’ve seen the market bottom

"I don't think these responses show that a bottom has been reached," Loewengart said of E-Trade's latest survey. "We would see it in the asset allocation question and we not seeing it," he said, pointing to findings in the survey that show the majority of investors with $1 million or more in their accounts are…
Asia stocks slip in the morning; investors await China’s GDP numbers

Asia stocks slip in the morning; investors await China’s GDP numbers

China released its GDP figures for the third quarter of 2018, which showed economic growth slowing to 6.5 percent year-over-year. The latest GDP announcement by the world's second-largest economy missed expectations for a 6.6 percent in the quarter from July to September compared to a year earlier, according to analysts polled by Reuters. That is…
Citi’s rally after earnings means we’re too worried about recession, says Jim Cramer

Citi’s rally after earnings means we’re too worried about recession, says Jim Cramer

Citigroup's earnings report may have just proved that investors don't have as much to fear as they think, CNBC's Jim Cramer said Monday after a worry-driven trading session on Wall Street. The Citibank parent was the first of the major U.S. banks to report its fourth-quarter results. While Citi missed analysts' revenue estimates due to…
Microsoft co-founder Paul Allen dies of cancer at age 65

Microsoft co-founder Paul Allen dies of cancer at age 65

Microsoft Co-Founder Paul Allen has died from complications of non-Hodgkin's lymphoma, Vulcan Inc. said Monday on behalf of his family. Allen passed away Monday afternoon in Seattle at 65 years old, Vulcan said. His sister, Jody, said he was "a remarkable individual on every level." "While most knew Paul Allen as a technologist and philanthropist,…
Stitch Fix shares crater as revenue, active clients miss estimates

Stitch Fix shares crater as revenue, active clients miss estimates

Stitch Fix shares tanked on Monday after the bell when the company reported active customers and quarterly revenue that fell short of analysts' estimates. Its shares were last down more than 15 percent on the news. The online personal styling service said active clients grew 25 percent from a year ago to 2.7 million by…
SoftBank in talks to buy majority stake in loss-making WeWork: Source

SoftBank in talks to buy majority stake in loss-making WeWork: Source

Japan's SoftBank is in discussions to buy a majority stake in U.S. shared office space provider WeWork, a source said, potentially doubling down on one of its biggest bets on a loss-making startup. A deal would signal a shift for SoftBank, which runs the world's biggest private equity fund and has concentrated its ownership of…

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