Finance

Europe’s central banks are starting to replace dollar reserves with the yuan

Late last year, China’s Xi Jinping said it was time for the nation to “take center stage in the world.” There are many ways for China to do this, including promoting globalization, boosting foreign aid, and developing advanced technologies. Another critical step in taking “center stage” is to be at …

Business

The average investor is making a classic mistake as the Dow marches to 30,000

Mom and pop are making a classic mistake in investing at this time. The purpose of this article is to show the average investor that there is a better way.<p>The mistake is being made as Dow Jones Industrial Average DJIA, +0.05% marches to 30,000 and bitcoin BTCUSD, -21.11% falls to $10,000 and …

Personal Finance

Inside the Korean crypto exchange that grew so fast the government raided it

Korea has gone from an afterthought in the cryptocurrency markets to one of its major hubs in a matter of months. Crypto trading has grown so feverish that the government raided the country’s major exchanges to check their books—and to cool down the red-hot trading activity.<p>The lynchpin in the …

Business

Conservatives balk at GOP plan to avert government shutdown

WASHINGTON (AP) — Disgruntled conservatives threatened late Tuesday to scuttle Republican leaders' plans to prevent a weekend government shutdown, saying GOP leaders now lack the votes to push their proposal through the House. The setback came as a deal between President Donald Trump and Congress …

U.S. Politics

Wall Street Bonuses Could Fuel Huge Crypto Purchases and Price Spikes | Investopedia

This week, many Wall Street bankers and financial employees will receive their year-end bonuses based on company performance in 2017. One digital …

Cryptocurrency

Citigroup reports $18.3 billion loss, caused by new tax law

NEW YORK (AP) — Citigroup lost $18.3 billion in the fourth quarter as the bank had to take more than $20 billion in accounting write-downs related to the new tax law.<p>The bank had a loss of $7.15 a share, compared with a profit of $3.57 billion, or $1.14 a share, in the same period a year …

Business

The Bad News Bears Come for Bitcoin

It's a bad day for bitcoin. Is it going to get worse?<p>The price of bitcoin has plummeted nearly 14% in the last day, and the cryptocurrency is now …

Cryptocurrency

Telegram plans to spend more than $100 million of its mega-ICO on salaries, offices, and consultants

The chat app Telegram hopes to raise up to $1.2 billion in an initial coin offering (ICO), according to Business Insider. This would make it the largest one-off fundraising using the cryptocurrency-based mechanism to date.<p>What will Telegram do with the money? According to documents outlining the …

Business

Lifelike robots made in Hong Kong meant to win over humans

HONG KONG (AP) — David Hanson envisions a future in which AI-powered robots evolve to become "super-intelligent genius machines" that might help solve some of mankind's most challenging problems.<p>If only it were as simple as that.<p>The Texas-born former sculptor at Walt Disney Imagineering and his …

Robots

Two blockchain ETFs are launching but blockchain won't be in their names

• <b>Two blockchain ETFs are set to start trading Wednesday, but blockchain won't be in their name.</b>• <b><br>Eric Ervin, the chief executive officer of Reality Shares, told Business Insider the SEC is wary about the mania surrounding blockchain.</b><p>Reality Shares' new blockchain ETF is set to begin trading on …

Business

Billionaire Sam Zell sees 'irrational exuberance' in the stock market and holds mostly cash

The seemingly unstoppable rally that's pushed the stock market to record high after record high is based on emotions not fundamentals, billionaire …

Economy

The 1929 Stock Market Crash, Could It Happen In 2018? | Investopedia

As U.S. stocks continue soaring to record high after record high, investors anticipating an inevitable plunge have yet another cause for sleepless …

Economy

Don’t ditch the bull market — it’s ‘dangerous’ to be out of stocks, top U.K. fund manager says

Tempted to cash in on the recent string of records in U.S. stock markets?<p>With the S&P 500 index SPX, +0.18% and Dow Jones Industrial Average DJIA, …

Business

'There They Go Again': Why I Am Selling My Last Dry Bulk Positions

I wrote articles from mid-2016 through early 2017 recommending (among others) Star Bulk Debt (SBLKL) and Safe Bulker Preferred D Shares (SB-D) for …

Business

Davos organizers: Trump to make final address at forum

GENEVA (AP) — World Economic Forum organizers say U.S. President Donald Trump will deliver a closing address at the Davos conference next week, which will focus on "finding ways to reaffirm international cooperation on crucial shared interests."<p>The WEF says international security, the environment …

Business

Ranking The Best Cryptocurrency & Alternative Finance Apps

Investing can be intimidating, but despite all the hype, new and innovative ways to save and grow your money are hitting the app stores with surprising speed. Whether you want to play the cryptocurrency market or invest some spare change for the long term, here are five innovative alternative …

Consumer Tech

Tax season: Top tips for 2018

Tax season is rapidly approaching and both taxpayers and financial advisors are still getting acquainted with all the finer details of the GOP’s new legislation.<p>This year, tax filing season extends from Jan. 29 until April 17.<p>With the sweeping changes enacted to the nation’s tax code beginning in …

Retirement

New Leveraged ETF of ETFs Targets Retirees Seeking 7% Return

“Leverage” and “retirement” are two words you don’t normally hear together, but that’s exactly the combination one new exchange-traded fund is …

Business

Are Baby Boomers Holding Too Much Cash?

There's good news for Baby Boomers: As a generation, they're generally on track with their equity holdings in terms of retirement, according to Wells …

Retirement Planning

He dumped his dividend stocks. How’s that working out?

Robb Engen of the Boomer & Echo blog did something brave – and smart – a few years ago. He sold his $100,000 portfolio of 24 dividend stocks and replaced them with a portfolio of two exchange-traded funds.<p>Mr. Engen is now reporting back on the results, which are quite good. Be sure to give his …

Late Night

The world's biggest fund, BlackRock, warns companies to find a social purpose

The world’s biggest investor has warned companies to make a positive contribution to society or risk losing its support.<p>In a letter sent to heads of FTSE 100 firms and global business chiefs, Larry Fink, the chief executive of BlackRock chief executive, told companies they must make "a positive …

The City

EDITORIAL: Ignoring bond markets risky

It’s a period of quantitative tightening, quipped one market commentator<p>The result has been felt most acutely in the property market, which has seen …

Business (South Africa)

U.S. Dollar Will Be Replaced By Cryptocurrencies and Gold in 30 Years

Fiat money will lose its significance to gold and cryptocurrencies in the next twenty years, said Robert Kiyosaki, bestselling author of "Rich Dad …

Banking

Technically Speaking: Have 'Tax Cuts' Been 'Priced In' Already?

"Did you hear the news that was driving the markets to new records this morning?<p>No? Yeah, me either. But such is the nature of a speculative driven …

Business

Bets on falling volatility now ‘most crowded trade’: fund managers

Global investors are betting on a continued rise in equities, are unhedged, and look for the bull market in stocks to continue until 2019, according …

Markets

Banks are Big Winners from Tax Cut

WASHINGTON — The nation’s banks are finding a lot to love about the Trump administration’s tax cuts.<p>The $1.5 trillion tax overhaul signed into law late last year provided deep and lasting tax cuts to all types of businesses, but financial institutions are among the biggest winners so far, reaping …

U.S. Politics

All Good Things Must Come to an End: Dow Drops 70 Points as Reality Sets In

Well, it was nice while it lasted.<p>Stocks logged a record surge at the end of last week, and that euphoria carried over to this morning, with stocks …

Dow Jones Industrial Average

Ohio businessman given deportation stay taken into custody

CINCINNATI (AP) — An Ohio businessman who has lived in the United States for 38 years and had been granted a temporary stay of deportation to his native Jordan was taken into custody Tuesday by federal immigration officials.<p>Youngstown businessman Amer Othman was arrested at an Immigration and …

Business

Fund manager Q&A: What to expect from muni bonds in 2018

NEW YORK — Municipal bonds took investors on a roller coaster at the end of 2017, as prices swung on concerns about what Washington's overhaul of the tax system will do to the $3.8 trillion market.<p>Investors, particularly those in top tax brackets, have long sought the income paid by muni bonds …

Business

VIX May Have Finally Found Its Floor, Macro Risk Advisors Say

Volatility can’t stay this low forever -- or so investors have been saying for what feels like forever. They may have finally found their moment.<p>As …