NEW YORK – Goldman Sachs expects to take a $5 billion hit to profits for the fourth quarter and year because of the tax overhaul signed into law last week. Continue Reading Below The New York bank on Friday became one of the first to release details on how changes […]
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Wall Street set to open higher on final trading day of 2017
U.S. stocks were poised to open on a bright note on the final trading day of 2017, wrapping up a year in which major Wall Street indexes recorded their best performance since 2013. Continue Reading Below Investors were treated to bumper gains in the year, with strengthening global economy, solid […]
5 Financial New Year’s Resolutions Everyone Should Make
According to Fidelity, 52% of people who made financial resolutions in 2016 felt strongly that they’d be better off financially in 2017, compared with 37% who didn’t resolve. Almost half of resolvers also said they’re in less debt than they were the prior year, compared with 35% who didn’t make […]
Goldman says tax legislation to cut 4Q earnings by $5 billion
Goldman Sachs on Friday said the tax legislation will result in a decrease of about $5 billion in its fourth-quarter earnings. Continue Reading Below Around two-thirds of the $5 billion decrease in earnings is due to repatriation tax, Goldman said in a statement with the U.S. Securities and Exchange Commission. […]
Reports: Turkey, Russia sign loan deal for S-400 air system
ANKARA, Turkey – Turkish media are reporting that Turkish and Russian officials have signed a financing agreement for the purchase of a Russian-made anti-missile system worth $2.5 billion. Continue Reading Below The Hurriyet Daily News newspaper said the loan deal for four S-400 surface-to-air missile batteries was signed in the […]
Stocks cheer $9 trillion year, downer for the dollar
Markets were ending 2017 in a party mood on Friday after a year in which a concerted pick-up in global growth boosted corporate profits and commodity prices, while benign inflation kept central banks from snatching away the monetary punch bowl. Continue Reading Below MSCI’s world equity index, which tracks 47 […]
China denies improper NK oil supplies after Trump criticism
BEIJING – China has denied violating U.N.-imposed limits on oil supplies to North Korea after U.S. President Donald Trump criticized Beijing. Continue Reading Below A ministry spokeswoman, Hua Chunying, said Friday that Beijing has “completely and strictly” complied with sanctions imposed to discourage North Korea from pursuing nuclear and missile […]
Asian stocks drift higher on final trading day of 2017
SEOUL, South Korea – Asian stock markets mostly drifted higher on the final trading day of 2017 Friday after Wall Street finished with modest gains. Continue Reading Below KEEPING SCORE: Japan’s Nikkei 225 finished 0.1 percent lower at 22,764.94. The Tokyo benchmark index rose 19 percent in 2017. China’s Shanghai […]
Hong Kong stocks gain 36%, Shanghai rises 6.6% in 2017
Hong Kong stocks closed higher for their fifth consecutive session on Friday, bringing the Hang Seng’s gains this year to 36 percent, the biggest annual percentage rise since 2009. Continue Reading Below The market’s stellar performance this year was fueled by a global economic recovery, ample liquidity in the global […]
Nikkei ends slightly lower, but climbs nearly 20 pct in 2017
Japan’s Nikkei share average erased early modest gains and ended slightly lower on its final trading day of the year on Friday, but the index still gained nearly 20 percent in 2017. Continue Reading Below The Nikkei ended the day down 0.08 percent at 22,764.94 points, while the broader Topix […]