Financial News

U.S. to Tax China and Other Countries That Manipulate Currency

us senate taxes chinese imports

Financial News Story of the Day – U.S. Senate Approves Bill to Tax Certain Countries

In what may spark a trading war with China, the Senate has approved a bipartisan bill that would allow the U.S. to tax countries that subsidize their companies by keeping the currency low. The House is unlikely to pass it into law, but may approve its own similar bill that takes incremental steps.…

Netflix Puts Qwikster Back in Mail Box – Stock Soars

qwikster netflix deal over

Financial News Story of the Day – Netflix Cancels Qwikster

Netflix CEO Reed Hastings today announced that his company would be axing the entire Qwikster idea, a knee-jerk reaction to their angering loyal subscribers by raising prices 60% amid a severe recession. Nobody liked the idea – not subscribers, not investors and apparently not Netflix itself (source:…

Spain and Italy Ratings Downgraded While Belgium Under Review

belgium currency downgraded

World Financial News: M0re European debt worries arise as Spain and Italy were both downgraded by Fitch Ratings. Belgium is also in trouble as its currency is under review by Moody’s Investors. Don’t let the complex talk fool you – it’s all about too much debt and the inability to pay it off (source:…

Volcker Rule Online Leak May Cost Big Banks Billions

volcker online leak summary

World Financial News: A leaked proposal online for the so-called “Volcker Rule” in the Dodd-Frank act could mean that banks must shut down proprietary trading, meaning that they can only make money off of transactions and fees rather than trading. Lobbyist and lawyers for the banks are scrambling to see how their clients could potentially be affected (source:

Personal Finance News: One of my favorite personal finance bloggers, Debt Ninja, posts in his usually hilarious way about why you should invest in your retirement before paying off your debt, even if it’s a 15% interest credit card debt (source:…

Tech Legend Steve Jobs Passes Away – What Will It Do to Apple Stock?

steve jobs dies at 56

World Financial News: Sadly, Apple founder Steve Jobs died today at age 56 due to pancreatic cancer. Jobs died a visionary, a hero and a legend whose innovative products changed an industry forever and made tech cool. At his death, Apple had more money than the U.S. government and is the leading tech company in the world (source:…

Apple Disappoints Financial Markets and Fanboys

iphone 5 and iphone 4s

Dow Jones: 10,809 (+153) you earned +1.44%
S&P 500: 1,124 (+25) you earned +2.25%
Gold: $1,629 (+0.82%) you earned $13
Silver: $29.99 (+0.47%) you earned $0.14
30-Year Fixed Mortgage Rates: 3.75% (-0.02)
15-Year Fixed Mortgage Rates: 3.40% (+0.10)

World Financial News: Apple, Inc. left fans disappointed and saw their own stocks dip -5% due to no iPhone 5 news – at least you get a 4S with voice control.…

Even Macau Gambling Hit by Economy

macau gambling down

Dow Jones: 10,655 (-258) you lost -2.36%
S&P 500: 1,099 (-80) you lost -2.85%
Gold: $1,665/ounce (+0.41%) you earned +$0.07
Silver: $30.89/ounce (+0.29%) you earned +$0.09
30-Year Fixed Mortgage Rates: 3.75%
15-Year Fixed Mortgage Rates: 3.30%

World Financial News: Even China’s strong gambling market could be losing its luster as gamblers in Macau cut back (source:…