Facebook is declining in popularity among U.S. teens. The platform has lost 10 percent of its users aged 12-17 according to eMarketer. Ben Rubin, a 30-year old tech entrepreneur has developed a group video chat app that is gaining in popularity with teens. Can Houseparty replace Facebook? The FT reports on Rubin’s goals for his app: Two years ago he landed on the idea for Houseparty, where groups of up to eight friends gather to chat, moving in and out of “rooms” and meeting friends of friends. It has already hosted half a billion chats. The average time spent on the app has gone from zero … [Read more...]
America: The New Petro-State
Since at least the 1970s, higher oil prices have been a drag on the U.S. economy, but with U.S. oil production now surging that could be changing. Greg Ip writes in The Wall Street Journal that high oil prices, while still hard on consumers, are generating enough economy activity in America to offset the pain. Credit this to the emergence of the U.S. as a leading oil producer and, soon, net energy exporter. More expensive oil is still a tax on consumers. But that tax is increasingly offset by the boost to energy investment, production and jobs. The U.S. business cycle is thus now tied in … [Read more...]
Global Earnings Generate Dividends and Deals
Strong earnings in Europe are leading to increases in dividend payouts and an uptick in M&A activity on the Continent. Global diversification is more important than ever. As always, investors should focus on harvesting dividends to create a portfolio that generates income for compounding, and funding retirement. Nina Trentmann reports on Europe's strong performance: European companies have struck several deals since the beginning of the year, including Sanofi SA ’s SNY 0.48% proposed takeover of Bioverativ Inc. for more than $11.5 billion. Swiss industrial firm ABB Ltd. ABB -0.20% is … [Read more...]
CNBC Blows the Whistle on Blockchain Abuse
When Bioptix Inc. changed its name to Riot Blockchain Inc., investors flooded in to the company they thought was working on blockchain technologies. CNBC says the change may have been made simply to enrich Bioptix's founders. Bloomberg reports: The shares had more than quadrupled to as high as $46.20 after the company changed its name from Bioptix Inc. in October and said it would focus on cryptocurrencies and blockchain startups. But the euphoria didn’t last long and the stock has lost more than half of its value since Bitcoin’s Dec. 18 peak, on concern the company isn’t doing much more than … [Read more...]
Big Miners Cautiously Enjoying Higher Demand
Big mining companies like BHP, Rio Tinto, Anglo American and Glencore are enjoying the world's booming economy. Higher demand is coming for coal and metals used to produce electric cars. Stronger economic growth in the U.S., Europe and China has been the biggest catalyst to improved miner performance. The Wall Street Journal reports: The metals market has been buoyed by a rare period of synchronized economic growth in China, the U.S., Europe and major economies elsewhere. Also helping: a chilly Chinese winter that fueled coal purchases, the industry’s expectations of a global infrastructure … [Read more...]
Happy Presidents’ Day
A DECALOGUE OF CANONS FOR OBSERVATION IN PRACTICAL LIFE Never put off till to-morrow what you can do to-day. Never trouble another for what you can do yourself. Never spend your money before you have it. Never buy what you do not want, because it is cheap; it will be dear to you. Pride costs us more than hunger, thirst, and cold. We never repent of having eaten too little. Nothing is troublesome that we do willingly. How much pain have cost us the evils which have never happened. Take things always by their smooth handle. When angry, count ten, before you speak; … [Read more...]
Investors Flee High-Yield Debt
When economic growth booms, Treasury yields often rise and the prospects for junk bond issuers tends to improve. In an environment where interest rates are rising because economic growth is strong, junk bonds tend to outperform Treasuries. Spreads (difference in yields) on junk bonds narrow as the risk of default falls in a better economy Don’t tell that to the crowd who has been reaching for yield in junk bonds though. As the FT reports, high-yield debt redemptions reached their second-largest net outflow, $10.9 billion last week. Central banks have distorted risk free yields for so long … [Read more...]
Dip in Trucking Prices Could be Temporary
Jennifer Smith reports at The Wall Street Journal that a recent drop in the prices for last minute shipping via tractor trailer could be a temporary phenomenon. With new regulations on their way to enforcement in April, and a charging economy, there could be upward pressure on trucking prices once again in the near future. She writes: Manufacturers and retailers are enjoying a breather from soaring trucking costs, but many shippers say lingering problems in booking big rigs point to more turmoil ahead. Rates on the spot market, where companies book last-minute transportation, have come … [Read more...]
Tax “Cuts” will Fuel the Florida Migration
Originally posted November 14, 2017. Want to get away? If you live in blue-states New York, New Jersey, Connecticut, Rhode Island, Massachusetts, and while I’m at it California, you do now. As the so-called tax “cut” grinds its way through the sausage maker in Washington, why would you stick around any longer than you have to? Most of you aren’t sticking around for the weather. It’s more likely you’re here for your family. Last time I checked, raising a family is a big investment and where you live is a huge part of the equation. Which is why I have a problem with this tax “cut” … [Read more...]
Do You Live in a Blue State and Want to Get Away?
There’s no perfect answer but I like the idea of a boots on the ground approach through vacationing or a seasonal rental. Once you determine you actually like living somewhere new, then it’s time to make the big move. Research is part of the fun and here’s one way to get you on the road again. Glenn Ruffenach at The Wall Street Journal gives potential movers a way to compare destinations: So, as you indicate, combining results from several resources generally works best. Here are some good places to start: The nonprofit Council for Community and Economic Research in Arlington, Va., has … [Read more...]
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