A Morningstar Center for Retirement & Policy Studies research leveraged a new simulation tool to find that 45% of Americans retiring at 65 face risks of running out of money in retirement as people live longer and share greater responsibility for their retirement savings. The simulation considered attributes like health conditions, nursing home expenses, and … Read more
After several years of exploring the possibility of introducing a digital currency in Canada, the central bank is shelving the idea. The Bank of Canada confirmed to CBC News it has shifted its focus away from the idea of introducing a digital Canadian dollar, which could be used for online purchases and money transfers. The … Read more
Billionaire investor and chairman of Berkshire Hathaway, Warren Buffett, bought 1.04 million Class A shares of aerospace and electronics company Heico Corporation (NYSE: HEI.A) for $185.37 million in Q2, according to the latest 13F filing. Heico operates in two segments: the Flight Support Group (FSG) and the Electronic Technologies Group (ETG), where most of its … Read more
Scion Asset Management founder Michael Burry is known for betting against the housing market during the 2008 financial crisis. The trade, which netted him $700 million, was chronicled in the award-winning film Big Short. His contrarian approach and unique foresight also prompted trades like buying water assets, forecasting future scarcity, and investing in GameStop before … Read more
Wall Street fell the most in nearly two years, continuing a global rout in financial markets as fears worsen that the U.S. economy is slowing down. The S&P 500 fell three per cent on Monday. The Dow Jones industrial average dropped more than 1,000 points and the Nasdaq composite slid 3.4 per cent. The declines were just the latest … Read more
CrowdStrike has been sued by shareholders who said the cybersecurity company defrauded them by concealing how its inadequate software testing could cause the global outage on July 19 that crashed more than eight million computers. In a proposed class action filed on Tuesday night in the Austin, Texas, federal court, shareholders said they learned that … Read more
A new report by Statistics Canada shows the country’s total number of short-term rental listings increased by more than 60 per cent between 2017 and 2023, while the number of short-term rental units that could be used as long-term housing grew by more than 80 per cent. The report identified more than 100,000 short-term rentals that … Read more
Intel was set to erase nearly $25 billion US in stock market value on Friday in potentially its worst sell-off since 2000, after it suspended its dividend and slashed its workforce to fund a costly turnaround for its chipmaking business. The company’s stock fell nearly 21 per cent in pre-market trading after Intel late on Thursday … Read more
Stocks tumbled Friday on worries the U.S. economy could be cracking under the weight of high interest rates meant to whip inflation. The S&P 500 fell 1.8 per cent on Friday for its first back-to-back loss of at least one per cent since April. The Dow Jones industrial average lost 1.5 per cent, and the Nasdaq composite … Read more
The 2023 bull market, led by large-cap tech stocks, changed momentum this year to benefit smaller companies due to several economic trends, like the slowing rate of inflation growth that is driving up bets on a September rate cut by the US Federal Reserve. According to TipRanks, Goldman Sachs chief US equity strategist David Kostin … Read more
