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Annuities, Like Rome, Weren‘t Built in a Day

Annuities have been around for centuries – since Roman times. In Ancient Rome, people would make a single payment in return for annual lifetime payments. Even back then, retirement planning was a concern. The first annuities were available to the public in America in 1912. But the popularity of annuities really started during the Great Depression. Concerns as to the […]

A 9,500 Percent Stock Surge Turns Janitors Into Millionaires in China

At most big companies, it’s pretty clear who the millionaires are: top executives, rainmakers, science whizzes with PhDs. But at China’s Sunny Optical Technology Group — whose stock has climbed faster than any other in MSCI Inc.’s global indexes over the past decade — the richest employees are just as likely to be factory workers, janitors and cafeteria chefs. The […]

Deal-Hungry Companies Hang on Judge‘s Word as AT&T Ruling Looms

It’s the $85 billion question that could hold the key to how mega deals are made for years to come. When U.S. District Judge Richard Leon hands down his decision on AT&T Inc.’s proposed takeover of Time Warner Inc. next week, the likes of Comcast Corp., Verizon Communications Inc., Cigna Corp. and CVS Health Corp. will be watching keenly. Leon’s […]

Trump Attacks EU and Canada as Trade Tensions Grow Ahead of G7 Summit

Leaders of the Group of Seven rich nations headed for a summit in Canada on Thursday more divided than at any time in the group's 42-year history, as U.S. President Donald Trump's "America First" policies risk causing a global trade war and deep diplomatic schisms. In a bid to rebuild America's industry, Trump has imposed hefty tariffs on steel and […]

Americans‘ Wealth Surpasses $100 Trillion for First Time

U.S. household wealth topped the $100 trillion mark for the first time ever in the first quarter of 2018, the Federal Reserve said on Thursday. Rising house prices, a market suffering a long-term shortage, pushed up the net worth of households even as stock markets were roiled by volatility. The and nonprofits rose to $100.8 trillion in the first three […]

Bernanke: US Economy Faces ‘Wile E. Coyote‘ Moment in 2020

U.S. economic growth could face a challenging slowdown as the Trump Administration’s powerful fiscal stimulus fades after two years, according to former Federal Reserve Chairman Ben Bernanke. Bernanke said the $1.5 trillion in personal and corporate tax cuts and a $300 billion increase in federal spending signed by President Donald Trump “makes the Fed’s job more difficult all around” because […]

Trump ‘Looking Forward‘ to Resolving Trade Disputes at G-7

President Donald Trump said Friday he wants to use the G-7 summit to resolve what he called unfair trade deals with US allies. Looking forward to straightening out unfair Trade Deals with the G-7 countries. If it doesn’t happen, we come out even better! — Donald J. Trump () America's closest allies are bracing for a showdown with Trump at […]