Home Page 2018-02-01T03:55:14+00:00

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  • A daily morning look at the financial stories you need to know to start the day. STOCKS/ECONOMY-Stock futures are down after Tuesday’s mixed close. Investors appear to be reacting at least in part to President Donald Trump’s firing of FBI Director James Comey. -Commerce Secretary Wilbur Ross says 3 percent economic growth is not achievable this year. They are now calling for a Special Prosecutor to be appointed to look into the charges.
    Here are the 10 most important stories for investors Wednesday morning

  • Deutsche Bank lowered its rating for Viacom to sell from hold, citing the increasing risk of cable firms dropping the company’s networks in the most popular cable subscription packages. The embattled media company’s shares have declined 12 percent in the past year versus the S&P 500’s 15 percent return. “We’ve now noticed a change in tier composition in several legacy Charter markets since last week, with Viacom’s core channels also being re-tiered into the Gold TV package and Digi Tiers,” analy
    Viacom downgraded on the risk cable companies may drop its networks

  • It seems McDonald’s foray into fresh, never frozen beef hasn’t hurt Wendy’s sales. In fact, Wendy’s said that the Golden Arches’ test of Quarter Pounders with fresh beef actually brought more awareness and credibility to Wendy’s business, which has used fresh beef since 1969. Penegor said that the company was actually able to use social media to capitalize on McDonald’s announcement that it would be rolling out fresh beef for all of its Quarter Pounder burgers nationwide by mid-2018. Wendy’s use
    Wendy's says McDonald's fresh beef tests aren't hurting its sales

  • The growing popularity of streaming may threaten ESPN, which is for now one of the most expensive parts of cable subscriptions, said Bernstein senior analyst Todd Juenger. We don’t think there’s anything Disney can do to compel those types of people to keep paying for ESPN over time.” Theoretically, they’ll also allow consumers to pick which networks they want to pay for instead of buying the entire cable bundle. Most of the major streaming plans all include ESPN, and Iger said on a call with in
    ESPN's downfall could be sped by streaming TV services, says analyst

  • Hedge fund Pershing Square has an unnamed investment position that is up big so far this year, founder Bill Ackman said on an investor call Wednesday. But Ackman said year-to-date performance for Pershing ranged from 1.9 percent to 3.6 percent, depending on the specific fund. On Monday, Ackman reiterated a recommendation on shares of Howard Hughes at the Sohn Investment Conference, presented by CNBC. A short position in Herbalife and declines in Fannie Mae and Freddie Mac contributed to “big los
    Bill Ackman is bragging about a mystery investment doing really well as hedge fund trails market

  • “If you look at Google, they have just an amazing monopoly when it comes to search advertising,” said Calacanis, a media entrepreneur and early Uber investor. “And they know exactly how to avoid triggering what would look like a monopoly. Google has what Calacanis referred to as “moats,” borrowing from a phrase used by famed investor Warren Buffett: Well-known brand names that make it difficult for them to succumb to competitive forces. “It’s amazing the monopoly they’ve built that doesn’t look
    Big tech is now a monopoly 'that doesn't look like a monopoly,' investor Calacanis said

  • Microsoft’s Cortana voice assistant is finally gaining new skills that will help it catch up with Amazon Alexa and Google Assistant. Microsoft only introduced a handful of services, however, which means Cortana still has a really long way to go before it’s on a par with Alexa or Google Assistant. Also, Microsoft doesn’t yet offer its own smart speaker where users can access Cortana, like the Amazon Echo or Google Home. For now, you’ll need to access Cortana through Windows or from an iOS or Andr
    Microsoft Cortana is finally playing catch-up with Amazon Alexa

  • In a consent order, Trump Taj Mahal admitted to having “willfully violated” reporting and record-keeping requirements under the federal Bank Secrecy Act from 2010 to 2012. In 1998, FinCEN assessed a $477,700 civil penalty against Trump Taj Mahal for currency transaction reporting violations. “Trump Taj Mahal received many warnings about its deficiencies,” then-FinCEN Director Jennifer Shasky Calvery said in the 2015 statement. The penalty became an unsecured claim in Trump Taj Mahal’s bankruptcy
    Russia probe: Senate requests Trump documents from agency that monitors money laundering

  • An estimate of the costs and impact of the Republican Obamacare replacement bill will be released nearly two weeks after that bill was passed by the House of Representatives, the Congressional Budget Office said Wednesday. CBO said its report on the major health-care bill will be issued “early in the week of May 22.” It also would include projections of how the legislation will affect health insurance premiums and the federal budget deficit. The House passed that bill, known as the American Heal
    CBO will finally score House Obamacare bill 'early' in week of May 22

  • “His approach is to be really sure of something before he buys it, and one of the ways he exercises that discipline is to sort of almost never sell. “It’s not the not selling that makes these so good, it’s that discipline to buy things only when he really, really likes them,” Lowenstein says. While not everyone will garner the same results as Buffett on the stock market, his core principle can be applied to almost every purchase we make: Invest for the long-term. When deciding whether or not to
    Warren Buffett's winning investing strategy can be applied to any purchase you make

  • Oil prices surged more than 3 percent after the latest report on U.S. crude stockpiles eased fears that have permeated the market in recent weeks, helping to drag prices to nearly six-month lows. That marked a sharp reversal from the recent trend, which has seen oil prices crash through a number of technical levels to fall as low as $43.76. Oil prices had already been trading higher on a report that Saudi Arabia was cutting exports to the key Asian market and earlier industry data pointing to a
    Oil prices are surging right now after a report showed falling stockpiles, greater demand

  • FBI Director James Comey had asked last week for more resources for the agency’s investigation into Russia’s alleged interference in the 2016 election, according to multiple media reports on Wednesday. A Justice Department spokesman told CNBC that the Times report was “totally false.” But a senior congressional official with direct knowledge of the matter told NBC that Comey had told members of Congress that he had requested more staff and money for the investigation. Comey had previously confir
    Comey reportedly asked for more resources for Russia probe; DOJ calls reports 'totally false'

  • Last night, in the real world, maybe democracy was crumbling, but Bart Allen, otherwise known as Kid Flash, was there to save us. In our last episode, we finally found out that Savitar — the speedster robot god — was actually Evil Barry Allen from the future. Also, Barry makes fun of his own headshots. Just seeing Barry Allen get excited about running fast again is delightful in its own right. Barry Allen has accepted his darkness, and that means Barry Allen can finally change.
    The Flash season 3 episode 21 recap: Just like Bart

  • With the success of Marvel’s television series, including Jessica Jones, Daredevil and FX’s Legion, Fox is trying to find a way to add more superhero series to its lineup. The Gifted is the newest series from Fox and X-Men: Apocalypse director Bryan Singer. It follows a family and their two gifted teenagers who end up on the run after the government makes it adamantly clear there’s no room for extraordinary beings. The Gifted is the first show at Fox to get a series order — meaning there will be
    Mutants are on the run in teaser for Marvel and Fox’s dystopian X-Men series, The Gifted

  • Like Man of Steel, Wonder Woman will be an origin story of sorts, exploring Wonder Woman’s past as Diana and the world she came from. The movie follows a young girl named Mija (Seo-Hyun Ahn) who will stop at nothing to ensure a large corporation doesn’t take her best friend away from her. Nolan has said before that this won’t be a traditional war movie, however — that it takes its influences from Hollywood’s silent film era. Director David Leitch also co-directed John Wick, but this film follows
    Summer movie guide: Wonder Woman to Death Note

  • Fresh off of his success on Atlanta and heading into a role in Spider-Man: Homecoming, Donald Glover is looking to increase the number of projects under his belt with an animated Deadpool series. The show is being described by Marvel and FXX as an adult animated series, so don’t expect the Merc with a Mouth to holdback any of the vulgarities he’s become known for. Deadpool seemed like a perfect fit for the network, whose other adult-oriented animated series include Archer and Chozen. Deadpool is
    Animated Deadpool series coming to FXX from Donald Glover

  • Cars 3 will give franchise star Lightning McQueen a new rival to take on, but there’s a larger enemy at play: technology. In the newest trailer for Cars 3, the focus is on Jackson Storm, a younger and, most importantly, technologically advanced race car. The concept was simple: remove the drivers from cars in an era when driverless technology had caught up to conceptions dreamt up by people decades before and let the empty cars race one another. Taking the drivers out would be like taking 95 per
    Cars 3 trailer hits on the issue of technology and driverless cars in modern racing

  • Rime, the colorful adventure from Tequila Works, drew the ire of Nintendo Switch owners in March when publisher Grey Box said that it would charge an extra $10 for the Switch version. Now, a digital copy of Rime will cost $29.99 in the U.S., £29.99 in the U.K. and €34.99 in Europe — on all four platforms. That makes up the cost difference, since Grey Box plans to sell the music separately for $10. This change addresses an issue for Rime that has become a worrying trend for physical copies of Swi
    Rime will no longer cost $10 extra on Switch eShop

  • The point I’m trying to make is this: Advertisers don’t necessarily know where their ads will appear on YouTube. Brands and ads don’t work on me. I don’t think this is his fault, and to very unsubtly move past other elephants in the room, I don’t think any single YouTuber or media outlet did it. YouTube is working hard to fix this situation, since it’s losing a lot of money, too. I don’t really think that’s a realistic scenario, as the future tends to move in one direction only.
    Why YouTubers are losing so much ad money (and how they can survive the crunch)

  • On May 1, China’s top League of Legends competition, LPL, announced that it plans to eliminate relegation and introduce franchising to the league. This marks the first major League of Legends region to franchise their top league. Here are five of the benefits that franchising could have for the North American LCS. Established fan basesOne of the hardest things for an LCS team is creating and maintaining a fan base. Even if the team stayed the same, they would no longer be developmental players a
    Franchising may be coming to pro League of Legends. Here are 5 possible benefits

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2018 came and soon it going to pass us by. When 2018 came, it brought with it some stunning games which captivated and entertained PC gamers all around the world. To this day, gamers still enjoy many of these games but as the saying goes, change is the only constant in life, it means regardless of how great these games [...]

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