The virus known as NotPetya has crippled operations at companies around the world, including major shipping operator A.P. Moeller-Maersk. The virus has been especially troublesome in Ukraine, but has hit major corporations in many countries. Nick Kostov and Costas Paris report: Companies that reported disruptions included U.S. pharmaceuticals firm Merck & Co., British advertising giant WPP Group PLC and Russian oil producer PAO Rosneft. Rosneft said on Twitter Wednesday that the virus hadn’t affected production, but added that “it is premature to evaluate the cyber attack … [Read more...]
RAGE Gauge: Investors Aren’t Paying Attention
My July RAGE Gauge is in, and four letters come to mind: G-N-M-A. As in Vanguard GNMA. If you don’t have some already, then what are you waiting for? The calm in the markets is unsettling. My RAGE Gauge tells me investors aren’t paying attention. They are getting complacent, with nearly all my favorite indicators showing investors without fear. Don't fall into the complacency trap. Be vigilant with your investments, now more than ever. Here's an indicator that things aren't as calm as they may seem on the surface. Violent protests break out for second day at G-20 summit … [Read more...]
A Reluctant Nike Finally Marries Amazon
In what has been a bit of a shotgun wedding, Nike has finally agreed to sell its products directly to Amazon. With hordes of third party sellers offering up Nike footwear and apparel on the giant e-commerce site, Nike was losing control of pricing, and leaving itself open to fake goods. Laura Stevens and Sara Germano write: One reason for their capitulation is the collapse of a retail distribution network they could better control, as malls flounder and chains like Sports Authority Holdings Inc. shutter. A company’s power to dictate who could sell its products and how, penalizing … [Read more...]
Long-Awaited Tesla Model 3 to Roll Off Assembly Line Friday
Current and aspiring Tesla owners and enthusiasts have long been anticipating the roll-out of the car company's "Model 3." The Model 3 will be Tesla's first mass-produced car, and prices will start at $35,000, aimed squarely at the mid-market. Tesla CEO Elon Musk hopes to ramp up production of the Model 3 to to 500,000 cars in 2018. Things will start slow though, with an anticipated 100 cars produced in August. Neal Boudette reports at The New York Times: Tesla said production of its first midpriced car, the Model 3, would begin on Friday, two weeks earlier than planned, with the first … [Read more...]
Are You Prepared for an Emergency While Travelling Abroad?
As you plan your next trip abroad make sure you know your health insurance coverage. You'll need to do some research on your health plan if you don't already know how it works. Fidelity Investments gives you a head start on what you need to know: Call your health insurance company The first step is to contact your health insurance company to verify whether your emergency medical coverage extends outside the U.S. Contact the customer service department and ask these kinds of questions: If I get sick or injured abroad, will my policy cover me? Does my insurance cover pre-existing … [Read more...]
Where to Live to Save for Retirement. It’s Not Where You Think
I’ve spent some time lately discussing states with booming economies like South Carolina, and states that are near bankruptcy, like Illinois. Depending on a state’s fiscal strength, or lack thereof, your earnings could be targeted to fill the gaps. And some states have a cost of living so high, no matter what you’re making, it’s nearly impossible to save. Maximizing your savings early on is the most important thing you can do to jumpstart the power of compounding in your retirement portfolio. But many Americans aren’t making very much money until their peak earning years, from say 45 to 65. … [Read more...]
Lost 29 Years: This Japanese Comeback will Surprise You
What is old is new again in Japan. Next year Sony will begin doing something it hasn't done for 29 years. With incredible demand for vinyl records from consumers looking to recapture the excellent analog sounds of their youth, Sony will begin making its own vinyl records once again in Japan. As I wrote earlier this year, Becky and I love our vinyl record collection. And we're not the only ones. "2015 sales of $416 million were the highest since 1988. Stay tuned for 2016’s numbers." NPR's Bill Chappell writes that fans want the rich sound of vinyl, and they also love the liner notes and album … [Read more...]
Blue Apron IPO Flounders
"After 2 months of Blue Apron @ $10/serving, customers can always return to the Trader Joe's freezer case, and a nice social experience, @ $2.79 per serving,” writes a commenter at WSJ re: food delivery IPO from Blue Apron which looks to be having trouble attracting investors. The company had hoped for shares to sell for between $15 and $17. Instead they are priced for $10. The Wall Street Journal reports that investors may have been worried about profitability, a welcome change from recent history. The outcome is far from what Blue Apron anticipated when the company launched its … [Read more...]
This AI Can Predict Your Income From Space
A computer scientist from Carnegie Mellon University, named Aman Tiwari, has created an artificial intelligence which can predict the income of a person by viewing their neighborhood and their home. The AI, known as Penny, has been fed information such as incomes for a given neighborhood alongside pictures of that neighborhood provided by DigitalGlobe, and taught to decipher what inputs are meaningful to predicting the residents' incomes. Robbie Gonzalez writes at WIRED: Penny provides a glimpse at how AI and machine learning make sense of a city. "It’s not for deciding whether to put a … [Read more...]
Right to Work South Carolina is Flooded in Jobs
Another big company, this time BMW, has announced it will be bringing more new jobs to South Carolina. The state's business friendly, right to work status has been successful in attracting major manufacturers like Boeing, and now BMW, which already has a large plant in the state, will expand. BMW plans to invest $600 million in its South Carolina plant. CNBC reports: The German automaker said Monday it will add another 1,000 jobs and invest $600 million in the plant as part of a plan to boost annual production to as many 450,000 vehicles. "It's a great day for us here in Spartanburg and … [Read more...]
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