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BlackRock’s Assets Slip Under $6 Trillion After Market Turmoil

BlackRock’s Assets Slip Under $6 Trillion After Market Turmoil The world’s largest asset manager reported assets under management declined 5 percent to $5.98 trillion. "The year was a year of records, good and bad records," Chief Executive Officer Larry Fink said in a CNBC interview Wednesday.


British PM May: We are leaving the EU on March 29

British PM May: We are leaving the EU on March 29 Prime Minister Theresa May said on Wednesday that Britain will be leaving the European Union on March 29, and that the bloc would only consider extending the 'Article 50' negotiating period if there was a credible alternative exit plan. "The government's policy is that we are leaving the European Union on the 29th of March.


Oil edges down on worries over global economy, supply glut

Oil edges down on worries over global economy, supply glut Oil prices edged down on Wednesday having climbed about 3 percent in the previous session, with worries about the global economy and forecasts of swelling U.S. production hurting sentiment. Brent crude oil futures were at $60.37 per barrel at 1215 GMT, down 27 cents or 0.45 percent. West Texas Intermediate crude futures were down 43 cents, or 0.83 percent, at $51.68 a barrel.


World stocks hold nerve after May's Brexit defeat, pound steady

World stocks hold nerve after May's Brexit defeat, pound steady World equity markets on Wednesday held their nerve after the heavy parliamentary defeat of British Prime Minister Theresa May's Brexit deal as investors saw potential for legislative deadlock forcing London to delay its departure from the EU. May's government faces a no confidence vote at 1900 GMT after the shattering rejection of her Brexit blueprint on Tuesday evening left Britain's exit from the European Union in disarray. May is expected to survive the vote, sponsored by the main opposition Labour Party, but investors could see scant sign of a breakthrough in the Brexit impasse.


Iran vows to will keep military forces in Syria despite Israeli threats

Iran vows to will keep military forces in Syria despite Israeli threats Iran will keep military forces in Syria, the head of the elite Revolutionary Guards said on Wednesday, defying Israeli threats that they might be targeted if they do not leave the country. Israeli Prime Minister Benjamin Netanyahu said on Tuesday that Israeli forces would continue to attack Iranians in Syria and warned them "to get out of there fast, because we will continue with our resolute policy". Rebuffing the threats, Major General Mohammad Ali Jafari, the Revolutionary Guards top commander, was quoted as saying by the semi-official ISNA news agency that "the Islamic Republic of Iran will keep all its military and revolutionary advisers and its weapons in Syria." Jafari called Netanyahu's threats "a joke", and warned that the Israeli government "was playing with (a) lion's tail." "You should be afraid of the day that our precision-guided missiles roar and fall on your head," he said.


Bank of America 4Q profits jump on higher interest rates

Bank of America 4Q profits jump on higher interest rates NEW YORK (AP) — Bank of America's fourth-quarter profits rose by 39 percent on an adjusted basis, the bank said Wednesday, helped by last year's steady rise in interest rates as well as a lower tax rate.


The Latest: Irish leader: Onus now on London in Brexit talks

The Latest: Irish leader: Onus now on London in Brexit talks LONDON (AP) — The Latest on Brexit (all times local):


U.S. automakers push for deal on fuel efficiency rules

U.S. automakers push for deal on fuel efficiency rules Executives at the major U.S. automakers are pressing the Trump administration and California to agree on standards for fuel efficiency and carbon emissions through 2025, as risks increase that a deadline for setting national standards will pass without a deal. Automakers are already entering the time frame when decisions should be made about what engines and fuel-saving technology, such as hybrids or fully electric cars, will be in use in 2021 and beyond, executives said. In August, the Trump administration proposed freezing fuel efficiency requirements at 2020 levels through 2025 and stripping California of the ability to impose stricter rules.


Florida commissioner: Rep. Rashida Tlaib might 'blow up' Capitol, has 'no place in government'

Florida commissioner: Rep. Rashida Tlaib might 'blow up' Capitol, has 'no place in government' A Florida city commissioner is under fire after calling Rep. Rashida Tlaib a "danger" who might "blow up" the U.S. Capitol.


Search on for Brexit consensus after May's crushing defeat

Search on for Brexit consensus after May's crushing defeat The confidence motion, called by opposition Labour Party leader Jeremy Corbyn after lawmakers rejected May's Brexit deal by 432-202, will be held at 1900 GMT. With the clock ticking down to March 29, the date set in law for Brexit, the United Kingdom is now in the deepest political crisis in half a century as it grapples with how, or even whether, to exit the European project it joined in 1973. After lawmakers in the 800-year-old parliament dismissed May's deal, she pledged to speak to senior parliamentarians to find a compromise that would avoid a disorderly no-deal Brexit or another referendum on membership.


Brazil's Embraer sees breakeven in 2019 before interest, taxes

Brazil's Embraer sees breakeven in 2019 before interest, taxes Brazilian planemaker Embraer SA said on Wednesday it expects 2019 earnings to be "approximately zero," before factoring in interest and taxes. Embraer is finalizing a deal to sell 80 percent of its commercial aviation division to Boeing Co for $4.2 billion. Aircraft deliveries from that division are seen roughly flat this year from a year ago, according to a securities filing, with deliveries in both 2018 and 2019 ranging between 85-95 planes.


World stocks rise but Britain slips on Brexit limbo

World stocks rise but Britain slips on Brexit limbo SINGAPORE (AP) — World stock markets mostly rose on Wednesday, but fell in Britain, as investors reacted to the parliamentary defeat of British Prime Minister Theresa May's plan for leaving the European Union.


Merkel open to clarifying Britain-EU future ties text: meeting participants

Merkel open to clarifying Britain-EU future ties text: meeting participants German Chancellor Angela Merkel told legislators she could not envisage renegotiating Britain's European Union withdrawal agreement but she did not rule out further clarifying Britain's future ties to the bloc, two meeting participants told Reuters. Merkel told a closed session of the German parliament's foreign affairs committee on Wednesday that she would need to coordinate with other EU leaders after British legislators rejected the withdrawal agreement the evening before. British Prime Minister Theresa May will try to forge a consensus in parliament on a Brexit divorce agreement after the crushing defeat of her own deal left Britain's exit from the EU in disarray 10 weeks before it is due to leave.


14 Killed in Terror Attack, Kenyan President Says

14 Killed in Terror Attack, Kenyan President Says Using hand grenades, automatic rifles and a suicide-bomber, the militants stormed 14 Riverside in Nairobi on Tuesday afternoon, a venue popular with business travelers and Kenya’s elites and home to offices of companies including Pernod Ricard SA and Dow Chemical East Africa Ltd. That precipitated an 18-hour siege around the DusitD2 hotel, which President Uhuru Kenyatta said ended about 9 a.m. Wednesday with the attackers dead. Somalia-based al-Shabaab took responsibility for the assault, the latest in a recent wave of jihadist strikes across Africa, including in Nigeria and Mali, which a loose coalition of African, Western and United Nation troops are struggling to stop. It’s al-Shabaab’s first significant assault in Kenya since it killed 147 people at a northeastern university in April 2015 and echoed a September 2013 attack on Nairobi’s Westgate mall that left 67 dead and rocked the tourism industry.


Vancouver Becomes the Weak Link in Canada’s Housing Slowdown

Vancouver Becomes the Weak Link in Canada’s Housing Slowdown While the country’s two most expensive real estate markets have both been hit hard by higher interest rates and tougher mortgage regulations, the data suggest Toronto is faring better and showing signs of stabilizing, while Vancouver continues its slide. Sales in the west coast city plunged 32 percent last year, driving benchmark prices down 6.5 percent over the past six months, according to Canadian Real Estate Association data released Tuesday.


A Big Risk to Intel's Modem Efforts

A Big Risk to Intel's Modem Efforts Apple's ambition wasn't to sole-source this critical component from Intel.


UK PM May says she wants to listen to lawmakers to find Brexit solution

UK PM May says she wants to listen to lawmakers to find Brexit solution British Prime Minister Theresa May said she wanted to find out what sort of Brexit deal could win the support of lawmakers, speaking in parliament a day after her proposed agreement was rejected by a large margin.


BofA beats profit estimates on higher interest income, loan growth

BofA beats profit estimates on higher interest income, loan growth (Reuters) - Bank of America Corp reported better-than-expected fourth-quarter profit as higher interest income and loan growth eclipsed declines in revenue from investment banking and bond trading, sending its shares up 3 percent.


France condemns failed Iranian satellite launch, warns against ballistic tests

France condemns failed Iranian satellite launch, warns against ballistic tests PARIS (Reuters) - France's foreign ministry on Wednesday strongly condemned a failed Iranian satellite launch and urged it to stop all ballistic missile tests. "The Iranian ballistic programme is a source of concern for the international community and France," foreign ministry spokeswoman Agnes von der Muhll said in a statement. "We call on Iran not to proceed with new ballistic missile tests designed to be able to carry nuclear weapons, including space launchers, and urge Iran to respect its obligations under all U.N. Security Council resolutions. ...


Larry Fink Likens Hedge Fund Selloff Last Quarter to ‘Mini-2008’

Larry Fink Likens Hedge Fund Selloff Last Quarter to ‘Mini-2008’ “What we saw in the fourth quarter was huge deleveraging by hedge funds," Fink said in a CNBC interview Wednesday. “In the short run we’ve probably hit a bottom," Fink said. “You’re seeing the seeds of a global slowdown,” Fink said.


Guggenheim's Scott Minerd says Fed will pause to start 2019

Guggenheim's Scott Minerd says Fed will pause to start 2019 The Federal Reserve is likely to hold its interest rate hikes on pause for the start of 2019 in order to stabilize markets, given economic growth is set to slow and financial conditions having tightened, Guggenheim Partners Global Chief Investment Officer Scott Minerd said on Wednesday. In Guggenheim's annual letter on macro themes, Minerd, who oversees $265 billion in assets, said the stock market selloff represents "a negative wealth shock to consumers, who have been the engine of growth for the U.S. economy in this expansion. Last week, Federal Reserve chairman Jerome Powell reiterated that the Fed plans to evaluate the health of the economy before moving ahead with any new interest rate increases.


Fiscal board asks court to invalidate $6 billion of Puerto Rico's debt

Fiscal board asks court to invalidate $6 billion of Puerto Rico's debt The island has been grappling with a prolonged debt-crisis and continues to recover from devastating storms


Marriott looks to reboot loyalty plan after cyber attack

Marriott looks to reboot loyalty plan after cyber attack The world's biggest hotel chain said the new brand, Marriott Bonvoy, will replace the existing loyalty programs – Marriott Rewards, The Ritz-Carlton Rewards and Starwood Preferred Guest - integrating the three brands into one name, with the launch on Feb. 13. The company, which owns the Ritz-Carlton and St. Regis luxury hotel brands, disclosed earlier this month that fewer than 383 million customer records were stolen in a cyber attack on its Starwood Hotels reservation system.


Netflix Had $1 Billion Reasons to Raise Prices

Netflix Had $1 Billion Reasons to Raise Prices The streaming giant just made this small move that will yield big results and investors are cheering.


Following Bankruptcy Filing, Mining Firm Giga Watt Reportedly Closes Day-to-Day Operations

Following Bankruptcy Filing, Mining Firm Giga Watt Reportedly Closes Day-to-Day Operations Major crypto mining and blockchain firm Giga Watt has reportedly closed access and power to its facilities and stopped day-to-day operations, according to a note to clients reposted in a Telegram group on Jan. 15. As for mining equipment, Telegram user JP reposted in the customer support Telegram channel an email purportedly from the Giga Watt team, stating that users will receive an email notification within next two weeks with the tracking data for their shipments. Until that time, the firm reportedly notes that there are only a few employees remaining at Giga Watt to date who can assist customers in their account withdrawals, know your customer (KYC) verifications, and other questions.


Jamie Dimon and Tim Cook Were Saved by the Tape: Taking Stock

Jamie Dimon and Tim Cook Were Saved by the Tape: Taking Stock (Bloomberg) -- There’s a whole mess of moving parts this morning that may make it a Herculean task to boil into a single trend: Further China stimulus measures, another Brexit vote, a twist in the government shutdown saga, @AOC likely joining a House committee to oversee Wall Street, a huge merger in the payments space (Fiserv buying First Data in $22 billion all-stock deal), more turnover at Snap (shares tumbling 11%), and another dump of earnings results in the financials space.


Wounded Hedge Fund Titan Crispin Odey Isn’t Celebrating His Roaring Comeback

Wounded Hedge Fund Titan Crispin Odey Isn’t Celebrating His Roaring Comeback “I will have a party for them in the summer of next year,” said Odey, who turns 60 this month, before erupting into loud laughter. While that strategy can rake in eye-popping gains, the losses can be equally stunning: He needs to generate an additional 90 percent just to recoup losses from the three years through 2017. In an interview ranging from his views on the market to Brexit to how quants are making life difficult for stock pickers, Odey insists last year’s selloff is just the beginning of a slump that will see him vindicated once again.


Democrats to grill Trump's new EPA chief pick over past lobbying

Democrats to grill Trump's new EPA chief pick over past lobbying Trump nominated EPA Acting Administrator Andrew Wheeler to run the agency permanently last week, a pick that could provide him another avid supporter of his deregulatory and pro-fossil fuels agenda without the constant criticism over alleged mismanagement that plagued Wheeler’s predecessor Scott Pruitt. A Washington insider with years experience as a top aide to Republican Senator and climate skeptic Jim Inhofe, Wheeler has been running the EPA since July, when Pruitt resigned in a flurry of criticism over his expensive travel and use of resources and staff for personal matters. Democrats on the Senate Environment and Public Works Committee running Wednesday's confirmation hearing said they would press Wheeler on his past lobbying, which includes work for underground coal giant Murray Energy - a vocal proponent for reduced environmental and safety regulation.


Mr. Peanut to Appear in His First Super Bowl Commercial

Mr. Peanut to Appear in His First Super Bowl Commercial The monocle-wearing Mr. Peanut is about to offer snack fans an entirely new lens on Super Bowl advertising. Planters, which has featured the anthropomorphic legume for more than a century as its spokes-character, will place him in a 30-second ad slated to appear in the second quarter of CBS' broadcast of Super Bowl LIII on […]


Is Hodges Small Cap Fund Institutional Class (HDSIX) a Strong Mutual Fund Pick Right Now?

Is Hodges Small Cap Fund Institutional Class (HDSIX) a Strong Mutual Fund Pick Right Now? Mutual Fund Report for HDSIX


Is Fidelity Advisor Technology A (FADTX) a Strong Mutual Fund Pick Right Now?

Is Fidelity Advisor Technology A (FADTX) a Strong Mutual Fund Pick Right Now? Mutual Fund Report for FADTX


Is Glenmede Large Cap Core Portfolio (GTLOX) a Strong Mutual Fund Pick Right Now?

Is Glenmede Large Cap Core Portfolio (GTLOX) a Strong Mutual Fund Pick Right Now? Mutual Fund Report for GTLOX


Is VWETX a Strong Bond Fund Right Now?

Is VWETX a Strong Bond Fund Right Now? MF Bond Report for VWETX


Is American Funds Cap World Growth & Income R3 (RWICX) a Strong Mutual Fund Pick Right Now?

Is American Funds Cap World Growth & Income R3 (RWICX) a Strong Mutual Fund Pick Right Now? Mutual Fund Report for RWICX


Tesla CEO Elon Musk's influence grows as automakers roll out electric-vehicle plans in Detroit

Tesla CEO Elon Musk's influence grows as automakers roll out electric-vehicle plans in Detroit From announcing all-electric cars to adding assembly lines specifically for plug-in models, auto executives are ramping up their electric vehicle plans in a nod to Elon Musk's success at Tesla.


Food Stamp Recipients Warned To Budget Early Payments Amid Shutdown

Food Stamp Recipients Warned To Budget Early Payments Amid Shutdown Americans who receive food stamps will get their next round of benefits early,


William Barr confirmation hearing, Brexit future, California storms: 5 things to know Wednesday

William Barr confirmation hearing, Brexit future, California storms: 5 things to know Wednesday President Donald Trump's Attorney General and EPA administrator picks are questioned on Capitol Hill, Brexit future put under the test and more things to start your Wednesday morning.


5 Stocks With Recent Price Strength Despite Volatile Market

5 Stocks With Recent Price Strength Despite Volatile Market Investors target stocks that have been on a bullish run lately. Actually, stocks seeing price strength have a high chance of carrying the momentum forward.


4 Defensive Stocks to Buy Amid Shutdown and Brexit

4 Defensive Stocks to Buy Amid Shutdown and Brexit Defensive equities could ride out market unpredictability.


Britain's Theresa May faces 'no-confidence' vote after large Brexit defeat

Britain's Theresa May faces 'no-confidence' vote after large Brexit defeat Theresa May is expected to win a 'no-confidence' vote in her government. If she doesn't, she could resign and trigger a general election over Brexit.


Alabama Judge Axes Law Protecting Confederate Monuments

Alabama Judge Axes Law Protecting Confederate Monuments An Alabama judge has scrapped a state law preventing the removal of


EU indicates will to reshape declaration on future ties with Britain

EU indicates will to reshape declaration on future ties with Britain The European Union could be willing to rework its ideas for post-Brexit trade relations with Britain if London asks for something different, the EU executive indicated on Wednesday after the British parliament rejected an existing deal. The European Commission's chief spokesman told reporters the withdrawal agreement itself, which sets out terms for British departure, would not be renegotiated. Asked about comments by EU Brexit negotiator Michel Barnier that Britain could have different trade terms if it changed its "red lines", spokesman Margaritis Schinas said: "We are always ready to meet and to talk but ... the withdrawal agreement -- and, I repeat, the withdrawal agreement -- agreed by the 27 and the United Kingdom, is not open for renegotiation." EU officials have said that were Britain to, say, drop its refusal to remain permanently in a customs union with the EU, then the bloc would be willing to negotiate that and that this could also ease difficulties around the Northern Ireland border which generated some of the British parliament's resistance.


UK government faces no-confidence vote after Brexit defeat

UK government faces no-confidence vote after Brexit defeat LONDON (AP) — British Prime Minister Theresa May faces a no-confidence vote Wednesday, a day after Parliament rejected her Brexit deal by a historic margin.


Turkey-backed rebels await 'zero hour' to attack Syria's Manbij

Turkey-backed rebels await 'zero hour' to attack Syria's Manbij The decision will depend on Turkey, the main backer of Abu Faisal's group, and on how contacts evolve between Washington and Ankara over the United States' plans to withdraw forces from Syria, a move set to reshape a major theater of the war. The YPG fear the U.S. withdrawal will open the way for a threatened Turkish attack into northern Syria, including Manbij, but U.S. President Donald Trump has warned Turkey of "economic devastation" if it goes ahead with the attack.


Snap Slumps as Market Sees ‘Clear Negative’ in CFO Departure

Snap Slumps as Market Sees ‘Clear Negative’ in CFO Departure Downgrades to sector perform from outperform but maintains price target at $8, which is slightly above the $7.57 average price target of analysts polled by Bloomberg. Maintains hold rating and $7 price target.


Is Himax Technologies a Buy?

Is Himax Technologies a Buy? 2018 was a terrible year for the stock, but shares could rebound -- though probably only in the short term.


62 Years Later, What Can Investors Learn From Ford's 1956 IPO?

62 Years Later, What Can Investors Learn From Ford's 1956 IPO? At the time, it was the largest IPO in American history -- but Henry Ford never wanted it to happen.


BlackRock profit misses as investors opt out of expensive funds

BlackRock profit misses as investors opt out of expensive funds Net income attributable to BlackRock fell to $927 million, or $5.78 per share, in the quarter ended Dec. 31, from $2.30 billion, or $14.01 per share, a year earlier, when it took a one-time gain from changes in the U.S. tax law. In the reported quarter, the company also took a $60 million charge related to job cuts last year. Analysts on an average expected BlackRock to report $6.27 per share, according to IBES data from Refinitiv.


Malaysia's 2018 auto sales rebounded, flat growth seen

Malaysia's 2018 auto sales rebounded, flat growth seen KUALA LUMPUR, Malaysia (AP) — New vehicle sales in Malaysia rebounded last year after two straight years of contraction, thanks to a three-month tax holiday, but growth is likely to remain flat this year amid uncertainties over government policies, an automotive group said Wednesday.


Stocks Struggle as Treasuries Drop; Pound Drifts: Markets Wrap

Stocks Struggle as Treasuries Drop; Pound Drifts: Markets Wrap Stocks struggled to hold gains and Treasuries dropped as investors weighed the political turmoil in Britain and the prospects for policy makers to arrest a slowdown in global growth. Futures on the S&P 500 and Dow Jones edged higher, while those on the Nasdaq were flat. Declines for consumer-goods companies offset gains for banks and insurers as the Stoxx Europe 600 Index pared an early advance.