Author Archives: Lee Heavener

Bitcoin falls 30 percent, posts worst week since 2013

Bitcoin falls 30 percent, posts worst week since 2013NEW YORK/LONDON (Reuters) – Bitcoin plunged by 30 percent to below $12,000 on Friday as investors dumped the cryptocurrency after its sharp rise to a peak close to $20,000 prompted warnings by experts of a bubble. It capped a brutal week that had been touted as a new era of mainstream trading for the digital currency when bitcoin futures debuted on CME Group Inc, the world’s largest derivatives market on Sunday. Friday’s fall bled into the U.S. stock market, where shares of companies that have lashed their fortunes to bitcoin or blockchain – its underlying technology – took a knock.

Source: Yahoo Finance

Bitcoin rout could trigger contagion, strategist says

Bitcoin rout could trigger contagion, strategist saysBitcoin has faced 75 percent market corrections "on at least three occasions in its history," Ron William, founder and principle market strategist at RW Market Advisory, said.

Source: Yahoo Finance

House backs temporary spending bill to avert shutdown

House backs temporary spending bill to avert shutdownWASHINGTON (AP) — The Republican-led House narrowly passed a temporary spending bill to avert a government shutdown Thursday, doing the bare minimum in a sprint toward the holidays and punting disputes on immigration, health care and national security to next year.

Source: Yahoo Finance

Triumphant Trump celebrates tax win _ but some fear backlash

Triumphant Trump celebrates tax win _ but some fear backlashWASHINGTON (AP) — A triumphant President Donald Trump and jubilant fellow Republicans celebrated the passage of their $1.5 trillion tax overhaul Wednesday as a "historic victory for the American people." The American people, however, will need some convincing.

Source: Yahoo Finance

GOP on the verge of huge tax overhaul _ with one hiccup

GOP on the verge of huge tax overhaul _ with one hiccupWASHINGTON (AP) — Jubilant Republicans pushed on Tuesday to the verge of the most sweeping rewrite of the nation's tax laws in more than three decades, a deeply unpopular bill they insist Americans will learn to love when they see their paychecks in the new year. President Donald Trump cheered the lawmakers on, eager to claim his first major legislative victory.

Source: Yahoo Finance

Amtrak train derailed on new, faster route that drew concern

Amtrak train derailed on new, faster route that drew concernA community along the new rail line where an Amtrak train derailed Monday in a deadly crash had tried to stop the project on grounds higher-speed passenger trains would endanger pedestrians and motorists. …

Source: Yahoo Finance

GOP senators rally to defend Corker over tax bill provision

GOP senators rally to defend Corker over tax bill provisionRepublicans rallied to GOP Sen. Bob Corker’s defense Monday, rejecting a report that the Tennessee lawmaker stealthily tucked a provision into the massive tax package to benefit himself financially and …

Source: Yahoo Finance

APNewsBreak: US soldier fought to end after ambush in Niger

APNewsBreak: US soldier fought to end after ambush in NigerWASHINGTON (AP) — Army Sgt. La David T. Johnson died in a hail of gunfire, hit as many as 18 times as he took cover in thick brush, fighting to the end after fleeing militants who had just killed three comrades in an October ambush in Niger, The Associated Press has learned.

Source: Yahoo Finance

Special counsel obtains thousands of Trump transition emails

Special counsel obtains thousands of Trump transition emailsWASHINGTON (AP) — Special counsel Robert Mueller's investigation into Russian contacts with President Donald Trump's campaign has gained access to thousands of emails sent and received by Trump officials before the start of his administration, the general counsel for Trump's transition organization said.

Source: Yahoo Finance

For GOP, tax bill's most visible win may be averting failure

For GOP, tax bill's most visible win may be averting failureDespite the sheer size and society-spanning impact of the $1.5 trillion tax overhaul, the quickest and most potent political victory that Republicans would savor by pushing the bill through Congress next …

Source: Yahoo Finance

GM offers a sneak peek at new Chevy truck, loaded with profits

GM offers a sneak peek at new Chevy truck, loaded with profitsGeneral Motors Co(GM.N) offered a sneak peek on Saturday of the next generation Chevrolet Silverado pickup, designed to haul big payloads of profits for the automaker when it launches next year. The current Silverado is GM’s best selling vehicle in North America, with sales of more than 500,000 vehicles last year. Analysts and company executives said it was also one of the manufacturer’s highest-profit model lines.

Source: Yahoo Finance

Huge tax bill heads for passage as GOP senators fall in line

Huge tax bill heads for passage as GOP senators fall in lineAfter weeks of quarrels, qualms and then eleventh-hour horse-trading, Republicans revealed the details of their huge national tax rewrite late Friday — along with announcements of support that all but …

Source: Yahoo Finance

Here's when Trump's new tax plan will take effect if it passes

Here's when Trump's new tax plan will take effect if it passesSenate and House Republicans reached an agreement on their final tax bill on Wednesday. If President Donald Trump signs it before the end of the year, the new tax plan will take effect on January 1, 2018. Americans won’t see the change to their tax returns until spring 2019 — when they file taxes for 2018.

Source: Yahoo Finance

Suspect in car attack faces new charge: first-degree murder

Suspect in car attack faces new charge: first-degree murderCHARLOTTESVILLE, Va. (AP) — The man accused of driving into a crowd protesting a white nationalist rally in Charlottesville faces a new charge of first-degree murder after a court hearing Thursday in which prosecutors presented surveillance video and other evidence against him.

Source: Yahoo Finance

U.S. regulators ditch net neutrality rules as legal battles loom

U.S. regulators ditch net neutrality rules as legal battles loomThe U.S. Federal Communications Commission voted along party lines on Thursday to repeal landmark 2015 rules aimed at ensuring a free and open internet, setting up a court fight over a move that could recast the digital landscape. The approval of FCC Chairman Ajit Pai’s proposal in a 3-2 vote marked a victory for internet service providers such as AT&T Inc, Comcast Corp and Verizon Communications Inc and hands them power over what content consumers can access.

Source: Yahoo Finance

Airbus executive says considering cuts to A380 production, still undecided

Airbus executive says considering cuts to A380 production, still undecidedAirbus SE (AIR.PA) is considering cutting production of its A380 superjumbo to six or seven planes a year, but has made no final decision on the matter, a top executive said on Thursday amid growing question marks over the future of the double-decker jet. The A380 has battled against sluggish sales, squeezed by smaller, more efficient twin-engined jets. Airbus has previously announced plans to lower output to 12 aircraft in 2018 and eight in 2019, compared with an annual peak of 30.

Source: Yahoo Finance

The Latest: Breaks for college students back in tax bill

The Latest: Breaks for college students back in tax billThe Latest on the Republican tax overhaul (all times local): 6 p.m. Congressional aides say negotiators have removed several controversial provisions from sweeping tax legislation, including one that would …

Source: Yahoo Finance

The market says tax cuts are coming, here's what to buy

The market says tax cuts are coming, here's what to buyThe “Fast Money” traders discuss what stocks will benefit from tax reform.

Source: Yahoo Finance

Trump says senator 'would do anything' for cash

Trump says senator 'would do anything' for cashPushing into the sexual harassment debate, President Donald Trump laced into Sen. Kirsten Gillibrand on Tuesday, tweeting that the New York Democrat had begged him for campaign contributions in the past …

Source: Yahoo Finance

It's Deal Time for Boeing and Airbus as 2017 Draws to a Close

It's Deal Time for Boeing and Airbus as 2017 Draws to a CloseBoeing and Airbus are likely to finalize hundreds of aircraft orders over the next few weeks as part of the typical year-end rush.

Source: Yahoo Finance

4 Big Problems with Treasury’s Report Showing Tax Cuts Pay for Themselves

4 Big Problems with Treasury’s Report Showing Tax Cuts Pay for ThemselvesFor months, Treasury Secretary Steven Mnuchin has claimed that the Republican tax plan will more than pay for itself by generating faster economic growth, adding that more than 100 people in his department were “working around the clock” on modeling various estimates of the plan’s effects. Maybe the administration was better off that way. The Treasury Department on Monday released a one-page “analysis” of the Senate tax bill — 470 words, including footnotes, on a roughly 470-page bill — asserting that the Trump administration’s overall economic agenda would generate about $1.8 trillion in additional revenue over 10 years, more than offsetting the roughly $1.5 trillion cost of the tax cuts.

Source: Yahoo Finance

Oil prices slip under shadow of U.S. drilling

Oil prices slip under shadow of U.S. drillingOil markets edged lower on Monday as ongoing output cuts led by OPEC were countered by rising U.S. drilling activity that points to a further increase in American production. Brent crude futures, the international benchmark for oil prices, were 15 cents lower at $63.25 a barrel at 0950 GMT. U.S. West Texas Intermediate (WTI) crude futures were at $57.03 a barrel, down 33 cents from their last settlement.

Source: Yahoo Finance

Apple May Soon Get Another OLED Display Supplier

Apple May Soon Get Another OLED Display SupplierA recent regulatory filing from a major display manufacturer suggests that Apple could soon get another supplier of OLED mobile displays.

Source: Yahoo Finance

The Latest: Mississippi flag protested at museum opening

The Latest: Mississippi flag protested at museum openingThe Latest on President Donald Trump’s visit to Mississippi for the opening of museums dedicated to the state’s history and its role in the civil rights movement (all times local): 11:20 p.m. Mississippi …

Source: Yahoo Finance

Here's how Amazon's and Apple's new smart speakers stack up with consumers (AMZN, AAPL)

Here's how Amazon's and Apple's new smart speakers stack up with consumers (AMZN, AAPL)This is a preview of a research report from BI Intelligence, Business Insider’s premium research service. To learn more about BI Intelligence, click here. Smart speakers — Amazon’s Echo, for example — are the latest device category poised to take a chunk of our increasingly digital lives.

Source: Yahoo Finance

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