Troubled Chinese Conglomerate Missing Up To $15 Billion

It's a fable for our times: Smalltime investors band together to take down greedy Wall Street hedge funds using the stock of a troubled video-game store. And the same tools that empower the little guy- allowing people to organize quickly and seemingly out of nowhere, troll powerful institutions and unleash chaos- can also give rise to extremist mobs waging…

Minnesota companies attracted a record $1.86 billion in venture capital in 2020, up from $1.27 billion in 2019, in a year that also set a national record for investments in young growth companies, according to PitchBook and the National Venture Capital Association. “Last year Minnesota ranked 12th among states, a level achieved only once over the past 25 years,”…

Jan. 31— If you have high-interest consumer debt, getting control of your money in the new year might sound overwhelming. Most Americans say the COVID-19 outbreak has caused financial stress, according to a survey released in October by the National Endowment for Financial Education, with 30% listing debt as their top stressor. Angela Moore, a Miami- based…

The resurgence came after brokers, notably upstart Robinhood, reversed course and allowed buys of GameStop and other heavily shorted shares to restart on Friday. It was such individual players conversing on Reddit who banded together to drive up shares of GameStop and other firms in a bid to hurt big investors who were betting on their decline.

While Financial Advisor Robert Donlan recommends investors steer clear of GameStop and other stocks like it, economics professor Dr. GameStop has made headlines all week. “Basically, you're hoping it goes down,” Donlan, of Donlan and Barcomb Investment Services, explained.

When it shorts a stock, it must borrow the stock from someone else and sell it. Its goal is then to buy it back at a lower price in the future and return it to whoever it borrowed from. Now, the universe of investable stocks is not infinite. There may be 3,000 or so stocks that are big enough for hedge funds to really invest in.

In a lawsuit filed Thursday, Chance Daniels says he was forced to cut his losses and sell his GameStop stock, forcing him to “helplessly watch as the value of his equities held plummeted in value.” GameStop stock has rocketed from below $20 earlier this month to close around $350 Wednesday as a volunteer army of investors on social media challenged big…

As you take a closer look at your financial footing amid the headwinds of a pandemic, it's an excellent time to examine the possible impact of a Joe Biden presidency on money matters. The balance of Congress has shifted after the Georgia Senate runoffs, providing possible momentum for Biden's agenda. Look for another round of pandemic relief in the near term, says…

I asked that question in March, when most of us went into mandatory lockdowns because of COVID-19, and again, a few weeks ago, when a mob stormed Congress and sent Washington, D.C. into chaos. I asked again yesterday, when a Reddit subgroup called r/WallStreetBets drove up the price of GameStop, AMC and Blackberry by nearly 1,000%, collectively, and eviscerated hedge…

What's going on with GameStop's stock doesn't make sense to a lot of people. The struggling video game retailer's stock has been making stupefying moves this month, wild enough to raise concerns from professional investors on Wall Street to the hallways of regulators and the White House in Washington. The frenzy hit new heights Thursday when several trading…

–To better help companies and investors enhance their Environmental, Social and Governance programs, Broadridge Financial Solutions, Inc., a global Fintech leader, and Third Economy, a leader in sustainable investment research and advisory services, have launched an ESG Advisory Service. Benchmarking ESG efforts to peers and industry best practices to…

U.S. stocks took a steep dive Wednesday amid a negative outlook on pandemic recovery from the Federal Reserve and increased concern over heightened speculative trading. “The path of the economy will depend significantly on the course of the virus, including progress on vaccinations,” the Federal Open Market Committee said.

The private equity firm Catalyst Capital Group hired a lobbyist after the Missouri State Employees’ Retirement System filed its lawsuit in October. Pension system executive director Ronda Stegmann testified in a court hearing last week that lobbyist Richard McIntosh tried to set up a meeting with Stegmann, two legislators and Catalyst executives, The…

Appearing on the inaugural 2021 Allianz Global webcast Tuesday, Guy Adami of CNBC’s “Fast Money” did not hold back his concerns about corporate recklessness. Fueling that recklessness is a Federal Reserve that has been “extraordinarily accommodative” over the past 12 years or so, Adami said.

The Allstate Corporation has agreed to sell Allstate Life Insurance Company (ALIC) to entities managed by Blackstone for $2.8 billion.

Traders are keeping a wary eye on rising coronavirus infections in various countries and a bumpy rollout of vaccinations in the U.S. The spread of variants t hat are thought to be more easily transmissible and might be less effectively targeted by existing vaccines is adding to alarm. Vaccine maker Moderna said Monday that it will study whether a booster shot…

Women investors in 2020 reported significantly higher levels of concern about a U.S. economic recession in the next 12 months…

If you are familiar with the Ten Year Rule, you know at 10 years from retirement, I recommend investors begin putting money in fixed-income investments to provide for liquidity needs once they retire. However, I also know that today can be a scary environment. We don't know what lasting effects the coronavirus pandemic will have on the long-term economy.

As you take a closer look at your financial footing amid the headwinds of a pandemic, it's an excellent time to examine the possible impact of a Joe Biden presidency on money matters. The balance of Congress has shifted following the Georgia runoffs, providing possible momentum for President Biden's agenda. Look for another round of pandemic relief shortly…

Even the revered Warren Buffett, certainly one of the all-time all-stars in the investment firmament, saw his Berkshire Hathaway return a paltry 2.4 percent for the year. On the other hand, Tesla gained 743 percent. I have owned a small amount of Tesla stock in my personal account for the past three years.

“The wealth management industry has evolved considerably in the last 20 years,” explained Tom Salvino, CEO& Wealth Manager, Performance Wealth. It begins with Al Salvino, a veteran wealth advisor who began his financial career in 1963, the pioneer days of the profession, and continues with his sons Tom and John, a pair of Certified Financial Planners, both of whom,…

–The global pandemic shattered the world order and the US economy suffered its biggest blow since the Great Depression in the second quarter. Although the housing market briefly hit a pause in spring due to uncertainty and widespread stay-home orders, 2020 was still a record-breaking year in the residential real estate market. Active Companies in the markets…

Setting money goals in 2020 was likely an exercise in futility. In fact, 29% of Americans with financial goals for 2020 said COVID-19 forced them to put some of those aspirations on hold until 2021, according to a NerdWallet survey conducted online in late fall by The Harris Poll among over 1,700 U.S. adults with 2020 financial goals. “Take an inventory of where you…

Shares advanced in Asia on Tuesday as the coming changing of the guard in the U.S. raised hopes for more support for the economy and more aggressive measures to fight the pandemic. Benchmarks were higher in Tokyo, Seoul and Hong Kong but slipped in Shanghai. Hong Kong's Hang Seng gained 1.9% to 29,409.03 and the Nikkei 225 in Tokyo gained 1.4% to 28,633.46.

World markets were mostly higher Tuesday as the coming changing of the guard in the U.S. raised hopes for more support for the economy and more aggressive measures to fight the pandemic. Benchmarks were higher in Paris, London, Tokyo and Hong Kong but slipped in Shanghai. World markets were subdued on Monday, with U.S. exchanges closed for a holiday.

The economic news has continued to soften in recent days. December saw layoffs go up and the number of jobs decline, and, this morning, the retail sales numbers dropped. Consumer confidence has gone down. Clearly, the economic headwinds from the pandemic are getting worse.

The Democrats and Republicans will work closer together than most expect in order to get some things accomplished which may include another round of stimulus and a 2022 tax package. However, we are not as frightened as many of the Democrats moving too far to the left and believe that the sway of power lies mostly with the middle, the centrists.

Pretty much everyone was pleased to see 2020 come to an end. We've had to endure a pandemic that seems to be growing worse by the day an economic lockdown that destroyed millions of jobs and thousands of businesses widespread protesting, rioting and looting a contentious presidential election in which the current president refuses to accept defeat.

Since last March, The National Federation of Independent Business has been conducting regular COVID-19 surveys of its members to assess the impact of the public health crisis on small business operations. The most concerning finding is that one in four small-business owners reports that they will have to permanently close their doors in the next six months,…

NEW YORK— Wall Street closed out its first losing week in three with another drop on Friday after reports showed the pandemic is deepening the hole for the economy, as Washington prepares to throw it another lifeline. Treasury yields also dipped as reports showed shoppers held back on spending during the holidays and are feeling less confident, the latest in a…

You may already have a trust, but it's very important to understand that once you make a trust, the job is only half done. For your trust to work as advertised, it must be funded with your assets. Second, don't bother transferring into the trust your automobiles and boats registered with the DMV, or modular homes registered with the Department of Housing.

In the midst of deep grief and sorrow, it can feel overwhelming for a newly bereaved spouse to face the many responsibilities and decisions they have to make. If you've recently lost a spouse, there are likely financial matters that must be considered to ensure your financial house is in order and you avoid late fees and penalties. You will also need your spouse's…

And both Pennsylvania and New Jersey surpassed 18,000 confirmed deaths this week, as Pennsylvania caught up to its once-harder-hit neighbor. Tom Wolf tweeted Thursday that intensive care units in the state were “filling up because of COVID-19,” and New Jersey officials warned this week that the state's hospitals were preparing for a new influx of virus…

JPMorgan Chase& Co. has released its fourth-quarter and full-year 2020 financial results. JPMorgan Chase& Co. is a leading global financial services firm with assets of $3.4 trillion and operations worldwide. A component of the Dow Jones Industrial Average, JPMorgan Chase& Co. serves millions of customers in the United States and many of the world’s most…

DES MOINES, Iowa–(BUSINESS WIRE)– The prolonged economic impacts of COVID-19 are wearing on small and medium-sized businesses as owners report…

—Global stocks were mixed Wednesday after Wall Street rebounded, shrugging off uncertainty about a possible new attempt to impeach President Donald Trump over last week's attack on the U.S. Capitol. London and Frankfurt opened little-changed. Tokyo, Sydney and Seoul advanced.

—U.S. stocks are drifting Wednesday as Wall Street continues a pause from its big recent rally, and even Treasury yields are stalling following their rapid rise. Markets around the world have rushed higher recently on building optimism that a healthier economy is on the way because of the rollout of coronavirus vaccines and the prospect for more stimulus from a…

WASHINGTON, D.C., January 11, 2021 – Certified Financial Planner Board of Standards, Inc. (CFP Board) reported strong increases in the…

Retirement literacy remains low overall, with 89% of women and 72% of men receiving a failing grade on a 38-question retirement literacy quiz. The research suggests retirement income plans are less formal or not well understood for men and women alike, further underscored by consumers’ lack of confidence.

Last year, Maine small businesses applied for more than 28,000 loans totaling close to $2.3 billion by August in the forgivable loan program championed by Maine Sen. But new applications only became available on Saturday, and the U.S. Small Business Administration's Maine office notified lenders Friday afternoon that only community financial…

The nation’s largest financial firms as well as a major health insurance system are halting political donations after an attempt to disrupt the certification of the election resulted in a riot that killed five people.

None of us knows everything we need to know about money, so we may turn to experts for help. But some money professionals who offer advice are not qualified to do so— nor are they required to put our interests ahead of theirs. Be cautious when accepting advice from the following sources.

As of the markets' close on Thursday, December 31st the S&P 500 Index was up almost 18% for the year. Here is an example of how TINA plays out for investors: they can invest in the 10- year US Treasury bond and lock up their money for 10 years to receive an interest income rate of 0.75% annually or they can buy the S&P 500 Index and receive dividends yielding almost 1.75%…

For most of us, thinking about creating even a simple last will and testament is about as enjoyable as having teeth pulled. We procrastinate, we make excuses and we justify avoidance. We may even think of situations in which people have managed to die without proper documents in place and how those specific instances turned out fine after all.

In the wake of a deadly insurrection on Capitol Hill, the major U.S. stock indices saw record highs. Gary Hoover, an economist at Tulane University, wasn’t surprised. Andrea Eisfeldt, an economist at the Anderson School of Management at the University of California, Los Angeles, also expected this reaction, or lack thereof.

Xi Jinping, the Chinese president. China's economy is now showing strong growth. While America’ s 651 billionaires have increased their net worth by 30% to US $4 trillion, a quarter of a billion people in developing countries could face absolute poverty, and up to half the global workforce may have lost their livelihoods.

DENVER (January 5, 2021) – Skip Schweiss, CFP®, AIF® officially assumed the role of 2021 President of the Financial Planning…

JPMorgan Chase strategists say that the cryptocurrency Bitcoin could reach $146,000 in the long term as it starts to challenge gold as an asset class. The forecast, put forth by strategists Nikolaos Panigirtzoglou, said in a note Monday that Bitcoin's market capitalization, which is currently about $575 billion, would have to jump 4.6 times to reach $146,000…

Inflation discourages motivation to achieve, but probably the worst effect of inflation is its destruction of retirement savings, including Social Security benefits. It's not possible to offset inflation with any reasonably safe investment, as the Federal Reserve Board keeps interest rates low to discourage savings and increase spending to bolster the…

ARLINGTON, VA, January 4, 2021 — The funded status of the nation’s largest corporate pension plans started and finished 2020…

U.S. stocks pulled back from their recent record highs Monday, as big swings return to Wall Street at the onset of a year where the dominant expectation is for a powerful economic rebound to sweep the world. The worsening numbers also raise the possibility that Wall Street has been overly optimistic about the big economic recovery it sees coming because of…

More than 21,000 jobless Granite Staters will get their federal unemployment benefits extended and twice as many will get enhanced benefits, as a result of the of the stimulus bill passed by Congress, and signed– after some hesitation– by President Trump. The enhanced benefits– that $300 a week– started December 27, but self-employed and those collecting for…

Somewhere in between the emotion of fear that investors felt just a few short months ago when the Dow Jones Industrial Average hovered around 18,500 and now as now as that same index sets records almost on a daily basis, there exists a time where investors can act in a rational manner, a place like now. At this time, it is critical to make an intelligent evaluation of…

Several issues will impact the farm economy in 2021, with the launch of COVID vaccines, a new administration and a rebound in commodity prices that is boosting farm incomes. However, there will likely be little change in loan demand, bankers say. “We'll still have plenty of lending demand,” said Bob Hartwig of the Iowa State Bankers Association.

World shares edged higher on Wednesday as some markets wrapped up trading for 2020, anticipating a dose of fresh support for the U.S. economy and efforts to speed up coronavirus vaccinations to help curb the pandemic. Shares rose in London, Paris, Hong Kong and Shanghai. The United Kingdom government said the Medicines and Healthcare Products Regulatory…