Month: August 2020

The survival of J.C. Penney Co Inc hangs on whether the department store chain can reach a complex deal within days to sell itself to an alliance of retail mavens and distressed-debt investors. The 118-year-old retailer blew through a Friday deadline from lenders to sort through bids that would take the company out of bankruptcy proceedings that were commenced in May after the pandemic forced it to temporarily close all its 846 stores. The Plano, Texas-based company, already facing concerns from U.S. Bankruptcy Judge David Jones that its restructuring is not moving fast enough, is racing to …read more […]

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Building wealth in your 50s means you’re now seriously preparing yourself for retirement. Hopefully, you’ve been investing aggressively, saving much of your money, keeping debt low and living a somewhat frugal lifestyle.
Still, your journey to building great wealth is far from finished. And there are many steps you can still take to make sure you can have the retirement of your dreams.
In this article, we will look at five ways for you to continue building wealth in your 50s. But before that, let’s review what you should have been doing before now.

Building Wealth Throughout Your Life: A Review
Building wealth in …read more […]

ADT said on Monday the companies will work to combine Nest products like cameras, thermostats, doorbells and alarm systems with ADT’s installation, service and professional monitoring network. ADT expects to offer certain Google devices to its customers beginning this year and to expand the integration in 2021. …read more […]

It’s the great American contradiction.
In one breath, the nation begs for help. Millions can’t afford rent. The only way they’ll keep a roof over their head is if it’s deemed illegal to take it away.
It’s a sad tale.
But in the next breath, the nation boasts about its great tech ventures… and the massive wealth they’ve created.
Facebook told us last week its profit soared 98%.
Amazon saw sales jump 40%.
Apple boosted its second quarter bottom line by a full billion dollars over last year’s figures. Its shares have gotten so expensive, it’s now splitting each one into four new shares. (That way …read more […]

With a price-to-earnings (or “P/E”) ratio of 35.2x Microsoft Corporation (NASDAQ:MSFT) may be sending very bearish… …read more […]

Top news and what to watch in the markets on Monday, August 3, 2020. …read more […]

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Chinese artificial intelligence company Shanghai Zhizhen Intelligent Network Technology Co., Ltd., also known as Xiao-i, has filed a lawsuit against Apple Inc, alleging it has infringed on its patents. The company is calling for 10 billion yuan ($1.43 billion)in damages and demands that Apple cease “manufacturing, using, promising to sell, selling, and importing” products that infringe on the patent, it said in a social media post. Xiao-i argued that Apple’s voice-recognition technology Siri infringes on a patent that it applied for in 2004 and was granted in 2009. …read more […]

(Bloomberg) — Oil edged below $40 a barrel as OPEC+ producers started supplying more crude to a global market where many countries are still struggling to contain the coronavirus.The Organization of Petroleum Exporting Countries and its allies will pump about 1.5 million barrels a day more this month than in July as it starts to unwind its historic virus-driven output curbs, with Russia already having lifted its output sightly last month. At the same time, diesel sales in India were down 21% on the previous year in July, a sign of the stuttering demand recovery in one of the world’s …read more […]

Aug.03 — American Enterprise Institute Resident Scholar Derek Scissors believes a full ban of TikTok from the U.S. may not make sense. He was speaking with Haslinda Amin and Rishaad Salamat on “Bloomberg Market: Asia.” …read more […]

(Bloomberg) — Mainland-listed technology shares surged on Monday, driven by expectations of support from Beijing in response to U.S. moves on Chinese-owned software companies.A gauge for Shanghai’s Star board of tech startups closed 7.3% higher, a record gain and a fresh closing high. Shenzhen’s ChiNext Index rose 2.6%.The gains come amid signs that the U.S. will announce measures against Chinese-owned software deemed to pose national-security risks. President Donald Trump last week said he planned to ban TikTok, the popular music-video app owned by ByteDance Ltd., one of China’s biggest tech companies.Comments by U.S. Secretary of State Michael Pompeo suggest a …read more […]

Graham Ivan Clark, the 17-year-old Florida man accused of hacking Twitter on July 15, has more than $3 million worth of bitcoin assets.The post Alleged 17-year-old Twitter hacker has more than $3 million worth of bitcoin assets appeared first on The Block. …read more […]

Aug.03 — Ronald Sum, senior partner and head of dispute resolution for Asia at law firm Addleshaw Goddard, talks about the national security law imposed by China on Hong Kong, and the implications for banks such as HSBC Holdings Plc and Standard Chartered Plc. He speaks with Rishaad Salamat and Haslinda Amin on “Bloomberg Markets: Asia.” …read more […]

(Bloomberg) — HSBC Holdings Plc is speeding up the shakeup of its global business and warning loan losses may reach $13 billion this year as it battles the economic fallout from the coronavirus pandemic.The lender will continue to shift its capital towards Asia, which provided nearly all of HSBC’s earnings, according to its first-half results statement. First-half pre-tax profit missed estimates and more than halved to $5.6 billion. The bank said it is looking at further measures to boost performance.“We do need to take costs down, as a result of the revenue pressures” from the coronavirus, said Chief Financial Officer …read more […]