Biggest withdrawal in four months hits U.S. domestic stock funds: ICI

NEW YORK (Reuters) – U.S. fund investors walloped domestic equities with the most selling in four months, using the proceeds to buy cheaper stocks abroad that could thrive in a global economic expansion, Investment Company Institute (ICI) data showed on Wednesday. Nearly $ 9.6 billion tumbled out of funds focused on U.S. stocks during the […]

New research reveals simmering misunderstanding under the tree

New research reveals simmering misunderstanding under the tree

IS THERE any other time of year when good intentions and materialism converge so tightly? The caring, the artistic and the diligent spend their days before Christmas wrapping gifts. Whatever lies inside, their love for the recipients will also be expressed through paper, tape, bows and ribbon. Then it all goes horribly wrong. New research* […]

Aston Martin to recall over 5,000 vehicles in U.S.: safety agency

(Reuters) – British sportscar maker Aston Martin is recalling around 5,500 vehicles in the United States due to problems with powertrains and battery cables, according to documents posted on the National Highway Traffic Safety Administration’s (NHTSA) website. The recalls are expected to begin on Feb. 1, 2018, and come as the owners of the carmaker […]

This year's lumps of coal could be 2018's diamonds

SAN FRANCISCO (Reuters) – Investors saddled in 2017 with the market’s worst performers, including Under Armour and General Electric, may do well to remember as December draws to an end that lumps of coal sometimes turn into diamonds. As investment advisors rebalance clients’ portfolios in the final weeks of the year, the instinct to dump […]

Ski slopes and beaches forgotten: tax takes precedence

NEW YORK (Reuters) – There will be no holiday slowdown this year for tax consultant Jonathan Traub, who skipped hitting the ski slopes with his family and hunkered down in his Colorado condo to prep for a webcast. Clients have been full of questions about what the biggest rewrite of the U.S. tax code in […]

Wall Street slips heading into holiday

NEW YORK (Reuters) – Wall Street’s major indexes dipped on Friday in low trading volume before the holiday weekend as several blue-chip stocks slipped, including Nike. Nike Inc (NKE.N) shares fell 2.3 percent after the company forecast muted growth in current-quarter revenue, reflecting its struggles in the North American market. UnitedHealth Group Inc (UNH.N) was […]

Russia’s dysfunctional funeral business gets a makeover

Russia’s dysfunctional funeral business gets a makeover

Stiffer competition is coming THE calls began shortly after Yulia’s grandmother died. The undertaker offered help arranging the funeral, for 47,000 roubles ($ 800) in cash. She then travelled to Moscow’s Khovanskoe Cemetery, where she was offered a discount on a gravesite—150,000 roubles off—if she could bring cash within three hours and sign a receipt […]

U.S. tax overhaul requires new math for 529 savings plans

NEW YORK (Reuters) – Families with children in private or parochial school will be able to tap their college savings plans to pay for up to $ 10,000 in tuition and other expenses in the new year, thanks to a provision in the tax overhaul bill going into effect in 2018. This will require some […]

House approves biggest tax overhaul in 30 years; Senate next

WASHINGTON (Reuters) – The Republican-controlled U.S. House of Representatives approved sweeping, debt-financed tax legislation on Tuesday, sending the bill to the Senate, where lawmakers were due to take up the package later in the evening. The biggest overhaul of the U.S. tax system in more than 30 years could be signed into law by President […]

Tax plan optimism propels Wall Street to record highs

NEW YORK (Reuters) – Wall Street hit record closing highs on Monday as optimism increased about the likelihood of lower corporate tax rates as the Republican tax bill moved closer to passage. The Nasdaq surpassed the 7,000-point mark during the session but closed below that level. The Republican-controlled U.S. Congress is expected to begin voting […]