Money

Japan's Rakuten bets big on drones for online shopping

Things are looking up for Japanese online shopping firm Rakuten. Literally. The company kicked off 2017 by setting a world record for the longest drone delivery, flying a containerof hot soup 7.4 miles (12 kilometers) to surfers on a beach. CEO Hiroshi “Mickey” Mikitani expects drones to revolutionize the delivery sector. “The capacity in theskies above us is far greater than in the roads beneath our feet,” he wrote in a recent blog post. Rakuten(RKUNF) this week teamed up with California-based AirMap to develop technology to manage drone traffic in ...

Read More »

GOP's Medicaid plan penalizes some states, rewards others

Kasich vows to defend Medicaid from GOP cuts New England’s bucolic countryside looks much the same on either side of the Connecticut River separating Vermont from New Hampshire. But Medicaid beneficiaries are far better off in Vermont. Vermont generously funds its Medicaid program. It provides better benefits, such as dental care, and pays doctors more than New Hampshire’s program does. That brings more doctors into the program, giving enrollees more access to care. New Hampshire has twice Vermont’s population, but Vermont spends almost as much on Medicaid and covers more ...

Read More »

Ivana Trump to publish book entitled 'Raising Trump'

Donald Trump’s ex-wife Ivana Trump is set to publish a book with Simon & Schuster. And it’s not about politics. Entitled, “Raising Trump,” the “non-partisan, non-political” book will detail Ivana’s experience raising her three children with Donald Trump — Ivanka, Eric and Donald Jr. — according to the publishing house. It’s set to be published in September under Simon & Schuster’s Gallery Books Group. Ivana Trump said in a statement that the book will share “unfiltered personal stories about Don, Eric, and Ivanka from their early childhood to becoming the ...

Read More »

What the Fed rate hike means for homebuyers

Why the Fed hiked interest rates again It’s a tough market for homebuyers. Prices are high and supply of available homes is low. And while the Federal Reserve’s rate hike could make home buying more expensive, house hunters shouldn’t start panicking yet. The Fed increased its benchmark interest rate by one-quarter of a percentage point on Wednesday. The Fed doesn’t directly set mortgage rates, but its actions can affect the housing market. Mortgage rates tend to move with the government’s 10-year Treasury note, which serves as a benchmark for many ...

Read More »

Trump hires yet another Goldman Sachs banker

Trump fills top spots with Goldman Sachs employees Candidate Trump loved to call out his opponents for having ties to Goldman Sachs. “I know the guys at Goldman Sachs. They have total, total control over him (Ted Cruz). Just like they have total control over Hillary Clinton,” Trump said in February 2016. But President Trump is singing a different tune, turning to several Goldman Sachs executives to help him run the federal government. Trump’s latest Goldman hire is Jim Donovan, a two-decade veteran of the Wall Street bank, who has ...

Read More »

German prosecutors raid headquarters of Volkswagen and Audi

Volkswagen emissions scandal: A timeline German prosecutors raided the headquarters of Volkswagen and Audi on Wednesday as part of an investigation into the group’s use of software to cheat diesel emissions tests in the U.S. A company spokesman confirmed that Volkswagen’s headquarters in Wolfsburg, Germany had been searched. He said that Audi offices in Ingolstadt and Neckarsulm were also raided, but no information was available on five other sites visited by police. Volkswagen(VLKAY) has tried to turn the page on its emissions scandal in recent months, agreeing to pay billions ...

Read More »

Fed decision looms; Dutch election; Oil's wild ride

Click chart for in-depth premarket data. 1. Fed rate decision: All eyes are on the U.S. Federal Reserve, which is widely expected to raise interest rates at the end of its meeting on Wednesday. It would be the Fed’s second rate hike since December, and a decision that affects millions of Americans who have a credit card, savings account, investments, or want to buy a home or a car. America is still adding jobs at a healthy clip, unemployment is low and wage growth continues to gain momentum. Those positive ...

Read More »

U.S. firm outbids Chinese giant in effort to buy MoneyGram

U.S. electronic payments company Euronet Worldwide just offered $ 1 billion to buy national rival MoneyGram, potentially sparking a bidding war with Chinese competitor Ant Financial. MoneyGram said it “will carefully review and consider” Euronet’s unsolicited offer. The Dallas-based company is one of the most popular avenues for sending money from the U.S. to Mexico and other countries. MoneyGram stock jumped nearly 25% following the new bid. Related: Chinese giant buys U.S. firm that does Mexico money transfers Ant Financial, an affiliate of Chinese e-commerce giant Alibaba(BABA, Tech30), announced last ...

Read More »

Fed expected to hike rates: 4 things to know

NY Fed president: ‘Animal spirits have been unleashed’ An East Coast blizzard hasn’t stopped the Federal Reserve from its two-day meeting. A Fed rate hike is expected at the end of its widely watched meeting Wednesday. It would be the Fed’s second rate hike since December and a sign that the central bank’s leaders are moving interest rates up at a faster pace this year. “It’s really time to move,” says Dan North, chief economist at Euler Hermes, an insurance firm. Here’s 4 things to know before the Fed’s announcement ...

Read More »

Tech workers protest Trump on Pi Day

Tech firms take travel ban opposition to court Silicon Valley marked its favorite math holiday by protesting President Donald Trump. Hundreds of protesters joined a Pi Day rally in San Francisco Tuesday afternoon to oppose Trump’s policies on issues like immigration and healthcare. Speakers at the rally — organized by the non-profit group Tech Stands Up — included current and former employees from Facebook(FB, Tech30), Google(GOOGL, Tech30), Cisco(CSCO, Tech30) and LinkedIn. While Trump may have been the cause for the rally, the message was often about putting pressure on tech ...

Read More »