CHARLES SCHWAB: ‘Take a cautious approach to the bond market’

Scott Olson/Getty Images Major changes in fiscal and monetary policy are on the horizon, significantly altering the outlook for the bond market in 2017. The era of boosting growth with loose monetary policy is giving way to a new era of expansive fiscal policy. The transition began this summer, and we expect it to accelerate under the incoming administration. After seven years of gridlock in … [Read more...]

27 smart things to do with your holiday bonus

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Police respond to reports of shots fired at Nevada school

Washoe Schools (Reuters) - Police and school officials in Reno, Nevada, said officers were responding to a high school on Wednesday after receiving reports of shots being fired. The campus of Procter R. Hug High School was on a "code red" lockdown, though the scene was considered stable and secure, Washoe County School District spokesman Riley Sutton said by phone. The Reno Police Department said … [Read more...]

Congress just passed the 21st Century Cures Act — a massive bill touted to streamline drug approvals

AP Photo/Susan WalshWASHINGTON — It took nearly three years for Congress to pass the 21st Century Cures Act. The next question is: How long will it take the Food and Drug Administration to implement it? The legislation, designed to accelerate the introduction of new medical treatments by speeding up some FDA approval processes and boosting federal funding, passed the Senate Wednesday by a 94 … [Read more...]

Egypt floats its currency

Reuters/Victoria Hazou(Reuters) - Egypt's central bank floated the pound currency on Thursday, devaluing by 32.3 percent to an initial guidance level of 13 pounds to the U.S. dollar in a move to rebalance currency markets after weeks of turbulence. The Egyptian pound had been pegged at 8.8 to the dollar since March, but a shortage of dollars in the economy had put the currency under intense … [Read more...]

2 US military members and 16 Afghan civilians have been killed in northern Afghanistan

REUTERS/Goran TomasevicKUNDUZ, Afghanistan (Reuters) - Two U.S. service members were killed on Thursday while helping Afghan security forces fighting the Taliban around the northern city of Kunduz, the U.S. military said, while Afghan officials reported at least 16 civilians were killed. Although the U.S. military gave no details, Afghan officials said there had been heavy fighting about 5 km (3 … [Read more...]

‘There can be friendship between Trump and Putin’: Cambodia’s prime minister wants Donald Trump to win the US presidential election

Thomson ReutersPHNOM PENH (Reuters) - Cambodian Prime Minister Hun Sen said on Thursday he wanted U.S. presidential candidate Donald Trump to win next week's election because Trump would reduce tension with Russia and be good for world peace. Hun Sen is a self-styled strongman whose has ruled for three decades. He has at times reacted angrily to U.S. concerns about the state of human rights and … [Read more...]

It looks like John Lewis won’t be trying to make us cry with its Christmas ad this year

John Lewis has dropped the biggest hint yet that the so-called ‘sadvertising’ of years past might not be used in its upcoming Christmas advert after the retailer’s head of marketing revealed that the mixed reception to ‘Man on the Moon’ caused it to reevaluate the signature creative tactic. With less than two weeks to go until the much-anticipated Christmas … [Read more...]

London’s High Court ruling today could stop Brexit by blocking May from triggering Article 50

ReutersLONDON (Reuters) - British Prime Minister Theresa May will learn on Thursday whether she must seek parliamentary approval before triggering the formal process of leaving the European Union, a step some investors hope will lessen the chances of an economically disruptive "hard Brexit". London's High Court will hand down its judgment on whether May and her ministers have the authority to … [Read more...]

Target grocery chief is out — the third high-profile exit in less than four months

AP Photo/Matt RourkeTarget said on Wednesday its grocery chief is stepping down, as the retailer struggles to overhaul a key business and attract more shoppers to visit its grocery aisles. Anne Dament will leave the company on Nov. 18, less than eighteen months after she was appointed and tasked with turning around the grocery business, which accounts for a fifth or about $18.5 billion of … [Read more...]

How to fix the biggest problem with free trade

Thomson ReutersIf there’s one thing that nearly all economists agree on, it’s that getting rid of trade restrictions is generally good for a country’s economy.  Doing so leads to a higher national income, faster economic growth, higher productivity and more competition and innovation. Freer trade also tends to lower prices and improve the quality of the goods that … [Read more...]

How the Dakota Access Pipeline protesters are fighting online surveillance

Andrew Cullen/Reuters With protests heating up over the Dakota Access Pipeline, and tensions rising between law enforcement and supporters of the Standing Rock Sioux tribe, the demonstration to stop the 1,170-mile oil pipeline has gone viral.  In a show of "clicktivism," more than 1.4 million people on Facebook used geolocation tagging to "check in" to the … [Read more...]

It’s incredibly hard to rig an election

Alex Brandon/AP ImagesHow do you rig an election? Republican presidential nominee Donald Trump claims our system of elections are rigged. He has asserted widespread voter impersonation exists. He has claimed that large numbers of dead people vote. And, he maintains that many noncitizens have successfully registered to vote and regularly do so. Don’t believe it. Our democratic system of … [Read more...]

This year’s campaign ads have used some new approaches to touch on criminal justice reform

Zolnierek/The ConversationIt’s campaign season, which means the long shadow of Willie Horton is with us yet again. George H.W. Bush’s 1988 attack ad, which blamed his Democratic opponent Michael Dukakis for releasing a man who went on to commit more violent crimes, has become shorthand for a style of political advertising that continues to reappear every cycle. This year is no … [Read more...]

Oil could collapse back to $40 if the OPEC deal fails

Andrew Burton/GettyOPEC’s increasingly probable failure to reach a production freeze deal will see international oil prices plummet back to US$40 a barrel, according to Goldman Sachs analysts. In a note to clients, the experts went further, cautioning that even if the cartel managed to seal a deal, driven by the bearish prospects in a no-deal scenario, its effectiveness will be at best … [Read more...]

Police pepper-sprayed Dakota Access protesters as they tried to swim to the pipeline property

John L. Mone/AP PhotoOfficers in riot gear clashed again Wednesday with protesters near the Dakota Access pipeline, hitting dozens with pepper spray as they waded through waist-deep water in an attempt to reach property owned by the pipeline's developer. The confrontation came hours after North Dakota regulators criticized the pipeline company for not immediately reporting the discovery of … [Read more...]

America’s luxury housing market is headed for a correction

Luxury home prices rose 1.4 percent in the third quarter of 2016 compared to last year, to an average of $1.6 million. Redfin’s analysis tracks home sales in more than 1,000 cities across the country and defines a home as luxury if it is among the top 5 percent most expensive homes sold in the city in each quarter. For seven consecutive quarters, price growth in the high-end segment has … [Read more...]

We’ve seen tech M&A booms before — but something is different this time around

A key role of the board is overseeing M&A. Technology M&A is having another record year and not showing any signs of slowing down. This year alone there have been 46 deals that were over $1 billion in value. While we’ve seen boom years in Technology M&A before, something is different this time around. The potential buyer universe has changed – the market has seen the rise … [Read more...]