Latest Blogposts

  • Google (GOOGL) is making a big change to its mobile payment service, Google Wallet, Yahoo Finance has learned. Funds that are left in Google Wallet will now be FDIC-insured, which means Google users’ money is now a whole lot safer — and they probably never even knew it.

    Here’s why this matters: when you stash your cash in mobile payment apps like Venmo, PayPal and Google Wallet, that money is not FDIC-insured. The Federal Deposit Insurance Corporation protects funds held by banking institutions up to $250,000. This is a good thing because, as history has proven time and again, banks can fail and when they do, the little guys need someone looking out for them.

    These hot new money transfer services fall under the category of “non-banking institutions,” which includes the likes of payday lenders and prepaid debit cards. As a nonbank, they aren’t legally required to be federally insured.

    These aren’t places consumers normally park their money, but rather tools to transfer funds from one

    Read More »from YAHOO FINANCE EXCLUSIVE: Google Wallet just got a lot safer
  • Fight over fossil fuels goes beyond college campuses

    This week, students at Harvard staged a week-long protest in an effort to get the university's $36 billion endowment to divest from the oil and gas and coal industries. Student action included blocking the entrance to Massachusetts Hall, Harvard's oldest building, and preventing university president Drew Gilpin Faust from entering her office. On Thursday, President Faust agreed to meet with the students, who nonetheless vowed to continue the protests until Harvard's endowment divests from the oil and gas industry.

    The "divest in fossil fuels" movement is growing at colleges across the country, but it stretches beyond campuses. A number of religious groups have already divested after similar campaigns as well as public pension funds.

    New York City comptroller Scott Stringer, who oversees about $150 billion in pensions, is familiar with the push to divest.  Stringer stopped by Yahoo Finance this week. Stringer says, "There’s always the question of how you manage a pension fund. My job

    Read More »from Fight over fossil fuels goes beyond college campuses
  • It’s no secret that the plunge in oil prices is wreaking havoc in Canada’s oil-producing provinces, but economists had expected that to be partially offset by an improvement in other parts of the economy that benefit from cheaper energy.

    According to a report by the Conference Board of Canada, it isn’t playing out that way.

    In a “primer” ahead of the release of the federal budget next week, the Conference Board says, in so many words, that Canada is getting the sour, but missing out on the sweet.

    “You’d think (weak oil) would have a positive effect, that low gasoline prices would boost the consumer and that would have a positive effect on retail and then hopefully business investment,” says Matthew Stewart, associate director of the Conference Board’s National Forecast. “That hasn’t really happened.”

    To be sure, consensus is that the overall impact of falling oil is bad for the economy, and Stewart estimates oil producing firms will cut their budgets by about one-third, which is major

    Read More »from With budget looming, non-oil provinces not seeing benefit of cheap energy: report
  • To divest or not to divest: College students on fossil fuel debate

    Students at Harvard University are on the final day of something called Heat Week.  It's a week long protest pushing for the University to divest of fossil fuel stocks. It's a movement gaining steam at universities across the country.

    Schools like Swarthmore College, Tulane University and the University of Mary Washington have had similar sit-ins and demonstrations.  MIT held a debate on the topic this week as well.

    The protest at Harvard is an effort to get the university's $36 billion endowment to divest from the oil and gas and coal industries. Student action included blocking the entrance to Massachusetts Hall, Harvard's oldest building, preventing university president Drew Gilpin Faust from entering her office. On Thursday, President Faust agreed to meet with the students, who nonetheless vowed to continue the protests until Harvard's endowment divests from the oil and gas industry.

    In the 1980s, pressure from student groups over apartheid forced many universities to divest from

    Read More »from To divest or not to divest: College students on fossil fuel debate
  • Enjoy your espresso in space

    The next time you complain about a $5 latte at Starbucks be thankful you’re not spending $56 million. That’s how much it’s costing SpaceX to send a capsule containing an espresso machine to the International Space Station. Lavazza and Argotec built the machine, called the ISSpresso, using zero gravity technology for astronaut Samantha Cristoforetti. She’ll also be receiving a package of NASA designed coffee mugs that recreate the role of gravity in normal drinking on Earth.

    The package launched earlier this week and arrived today. Along with espresso the cargo capsule provided essential groceries and supplies. The Dragon space capsule will be loaded with trash and cargo and return to earth in 5 weeks. SpaceX is currently working on reducing the cost of Dragon launches.

    He just wanted to fix the plumbing...

    All Luciano Faggiano wanted to do was fix a toilet—but he ended up with a whole load of priceless heirlooms dating back to the 8th century BC.

    Read More »from A $56 million espresso that puts your Starbucks habit in check: This week's weird business news
  • R.I.P. bull market?

    It’s a famous Wall Street tale.

    Financial icon Joe Kennedy, Senior reportedly said he realized before the great market crash of 1929 that it was time to sell because a shoeshine boy was giving stock tips. Kennedy noted that when market speculation gets to that level, the bubble must be about to burst.

    Now, Yahoo Finance Editor in Chief Andy Serwer believes we have reached that “shoeshine boy” moment in our current more than six-year long bull market.

    “I had a terrifying moment this week when I was at the dentist and it didn’t have to do with my teeth at all,” he says. “I was walking out of the building and there was a doorman-- and he was talking about tech stocks, what he was buying and what he was selling.”

    Serwer says the frightening part was that it reminded him of another time--  right before the dot-com bubble burst.

    “I haven’t seen that kind of a conversation since 1999,” he explains. “Where it becomes cocktail fodder.”

    Get the Latest Market Data and News with the Yahoo Finance

    Read More »from R.I.P. bull market?
  • Immigrants come to Canada with an average of $47,000 saved up to start their new life, then spend more than half of it getting settled, a new survey shows. 

    About one-fifth of immigrants arrive without any savings, looking to build some wealth in Canada.

    The report from BMO Wealth Management paints a picture of eager new Canadians looking for a safe, stable country in which to live, although some may be unprepared for the higher cost of living in some parts of the country.

    Immigrants came to Alberta with less money than other provinces, or an average of $28,784, and were left with just $9,800 after the move, according to the survey. It includes responses from people who moved to Canada in the past decade. 

    In Quebec, immigrants arrive with an average of $36,527 and were left with $7,388 after getting settled. It appears cheaper to get started in Ontario, where an average of $27,579 was left from an average of $51,847 in savings brought to Canada.

    Immigrants were prepared for the high

    Read More »from One-fifth of immigrants to Canada arrive with no savings: BMO
  • With another week in the books it’s time to take a look at what might be making news next week. Yahoo Finance's Midday Movers panel weighed in:

    Jen Rogers - Greece
    One week from today, April 24, is the next deadline in the seemingly endless Greek debt epic. “We had Keith Bliss from the New York Stock Exchange telling us ‘you gotta pay attention to that’...we’re seeing it to start to percolate again,” Rogers says.

    Get the Latest Market Data and News with the Yahoo Finance App

    Yahoo Finance Senior Columnist Michael Santoli notes that the latest news today suggests that Greece’s creditors aren’t talking about kicking Greece out of the European Union so fears won’t revolve around a “Grexit” but rather how ugly all the wheeling and dealing will actually get.

    Andy Serwer - Apple Watch
    As European finance ministers furrow their collective brows next Friday Apple (AAPL) will begin delivering the much anticipated Apple Watch. The must-have gadget now has a long waiting list but those lucky

    Read More »from Apple Watch, Greece, earnings from Facebook and Google: What to watch next week
  • Why new stock market highs are ‘inevitable’

    It’s show-me time for the bulls.

    The S&P 500 (^GSPC) has been stuck in a relatively tight trading range for months, however stocks look as if they’re about to challenge key levels. What now? 

    Mike Murphy, founder and CEO of Rosecliff Capital thinks a break out is inevitable.  

    “One of the reasons is interest rates,” he said. “Of course everyone knows that the 10-year is under 2%, that gets a lot of headlines, but German bonds are about to flatline too,” he said, meaning that bonds issued by two of the world’s largest nation’s don’t offer any kind of meaningful competition to stocks.

    Also Murphy cited gains in China’s stock market and Germany’s stock market as other bullish catalysts for the S&P; he believes professional investors will lock in those gains and rotate money elsewhere. 

    And he said from a technical perspective trendlines and patterns suggest the market wants to break out, too.

    On top of all that “There’s an issue of supply and demand,” Murphy added. “There are so many

    Read More »from Why new stock market highs are ‘inevitable’
  • Behind American Express weakness; ServiceNow tumbles

    Time for your daily dose of trending tickers, the stocks you're following based on your yahoo finance ticker searches.

    American Express

    Concerns about a strong dollar are hitting American Express (AXP). Despite beating on profit, shares of the Dow component are down almost 5 percent after the company reported quarterly results and said it expects a significant impact from the greenback on its international business.

    The dollar, which has gained about 22 percent in the past 12 months against a basket of major currencies, has been a source of trouble for many U.S. multinationals.

    American Express also cited the end of its partnership with Costco as another setback.  The company plans to cut 4,000 jobs this year.

    Mattel 

    Sometimes not so bad - is good! Shares of Mattel (MAT) popped at the open - though they later fell back a bit after the toymaker lost less money than expected in the first quarter.

    For the 3-month period, Mattel posted a loss of 8 cents a share.

    That's still a penny

    Read More »from Behind American Express weakness; ServiceNow tumbles
  • It's a rough day on Wall Street with all the major indices (^DJI, ^GSPC, ^IXIC) sliding more than a percent. We'll tell you why!

    And here are some of the other stories Yahoo Finance is keeping an eye on today.

    Bull market bust?
    A bit of a history lesson with today's Wall Street slide. A 20th century financial icon--perhaps Joe Kennedy, Senior-- is famously quoted as saying before the 1929 market crash it was time to sell when he saw a shoe-shine boy giving stock tips. As everyone and their brother has started offering stock tips again, could we be in for another big slide?

    Get the Latest Market Data and News with the Yahoo Finance App

    GE's mixed bag
    General Electric (GE) shares have been struggling hard to stay afloat as the Dow sinks today. The company providing Wall Street with some good news by beating earnings estimates.  But that profit figure didn't include about $16 billion dollars in charges it took to pay for pulling the plug on most of its financial services division.

    Secret to

    Read More »from Bull market bust, GE reports and the secret to a successful fundraising campaign
  • Mattel crowdsources its next big toy

    As Barbie sales slump, Mattel (MAT) is turning to crowdsourcing for a comeback. The toy maker announced a partnership with Quirky, an invention site, to produce its next hit toy.

    Through Quirky’s online platform the public can submit proposals for toys and games. If an idea is selected, Quirky manages the design, manufacturing, and distribution of the product. The inventor who submits a winning idea will get a share of the royalties.

    Quirky and Mattel will begin developing new products this year, which may be available as soon as the holiday season.

    "This marks a new era for Mattel," said Richard Dickson, Mattel COO, in a statement. "Leveraging Quirky's platform allows us to discover new ideas for our toys…this new partnership will enable us to accelerate the speed and scope of invention.”

    Get the Latest Market Data and News with the Yahoo Finance App

    Yahoo Columnist Rick Newman doesn't think crowdsourcing ideas will help Mattel's bottom line.

    “Mattel's problem here, [Barbie] is a

    Read More »from Mattel crowdsources its next big toy
  • Money Minute: 5 signs you're too cheap

    Everyone loves to save but some people take penny-pinching way too far. Here are 5 signs you’re too cheap.

    Skimping on your health. If you’d rather “self medicate” or you’ve ever cut your pills in half to save money on medicine, then here’s a wake-up call: you’re cheap! Health care is ridiculously expensive, we get that, but you shouldn’t sacrifice your health to save a buck. Not taking the right dose of medication now or skipping the doctor's office when you're ill could lead to bigger -- and more expensive -- health issues later.

    Wasting time saving money. You shouldn’t have to sacrifice your time and sanity just to save money. When you spend money on a housekeeper, a laundry service, or a REAL plumber to fix that leaky faucet, you’re buying yourself something valuable in return — time.

    Not investing in activities that make you happy. What good is saving money if you’re completely miserable all the time? You should spend money on activities and things that you actually value. You may

    Read More »from Money Minute: 5 signs you're too cheap
  • Fossil fuel divestment push hits Harvard...and beyond

    In the 1980s, pressure from student groups over apartheid forced many universities to divest from South Africa. Today, activists are targeting a far larger target: The fossil fuel industry.

    Last month, Syracuse University announced its $1.2 billion endowment plans to drop all fossil fuel stocks. Last year, Stanford's $21.4 billion endowment said last year it will divest from coal stocks thanks largely to the efforts of university trustee Tom Steyer, a billionaire former hedge fund manager and president of NextGen Climate. (On the flipside, the University of Colorado's Board of Regents this week rejected a similar plea from students to divest its roughly$2.7 billion endowment.)
    This week, students at Harvard staged a week-long protest in an effort to get the university's $36 billion endowment to divest from the oil and gas and coal industries. Student action included blocking the entrance to Massachusetts Hall,
    Read More »from Fossil fuel divestment push hits Harvard...and beyond
  • There’s a movement afoot at elite colleges on both coasts to divest university endowments from controversial companies, especially those in the fossil fuel industry.

    Ethically responsible investing is nothing new, but one person’s ethical violation may be another’s lifeblood and so the waters are murky at best.

    Still, even before the latest movement at progressive universities, some large pension funds had already started moving away from such hot button issues in their portfolios. The California Public Employees Retirement System (CalPERS), the nation’s largest pension fund with more than $240 billion in assets under management, famously divested from gunmakers Smith & Wesson Holding Corp and Sturm, Ruger & Co after the Sandy Hook massacre in Connecticut. Just last year the same fund pulled $4 billion out of hedge fund investments citing the expense and complexity of such financial vehicles.

    The pension funds for New York City retirees (~$150 billion AUM) are dwarfed by CalPERS but

    Read More »from NYC Comptroller Scott Stringer: Concerned about fossil fuel investments

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