Australia’s currency is one of the most advanced in the world. The nation’s banknotes are totally waterproof, hard to counterfeit and relatively cleaner because they are resistant to moisture and dirt. Australian dollar notes are made of a polymer, which has a waxy feel, while the banknotes of the U.S. and several other countries are
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China’s billionaire population is on the rise. Today, the country is home to 10 percent of the world’s almost 2,400 billionaires, according to the latest report from Wealth-X. But, perhaps more notably, a massive 94 percent of them are self-made. Growth in China’s technology, consumer retail and real estate sectors over the past five to
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Inflation was a popular topic of conversation during the meeting. Officials deemed that core personal consumption — excluding food and energy — likely will run “notably faster in 2018.” The 2017 level was mired around 1.5 percent for 2017. The Fed’s preferred inflation measure is the personal consumption expenditures index. “Members expected that economic conditions
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Former General Electric boss Jeff Immelt was consistently over-optimistic in running the large conglomerate during his 16-year tenure, The Wall Street Journal reported Wednesday. More than a dozen insiders — including both investors and current and former GE executives — told the paper Immelt would project results for the company’s future mismatched with its reality.
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Bitcoin had its coming-out party in 2017. With all the excitement and opportunities around cryptcurrency, it might be easy to forget about crypto taxation. Almost every bitcoin or other “altcoin” transaction — mining, spending, trading, exchanging, air drops, etc. — will likely be a taxable event for U.S. tax purposes. Without a doubt, 2018 will
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When people start investing money, one of the exercises they engage in is determining their own risk tolerance. Usually, this process is handled by filling out some sort of questionnaire, such as the one below, that has multiple-choice questions: If you had $10,000 to invest, would you: • Be willing to chance earning 30 percent
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Venezuela’s oil-backed “petro” cryptocurrency raised $735 million in the first day of its pre-sale Wednesday, President Nicolas Maduro has claimed. The Venezuelan president said on Twitter that the petro token raised more than 4.777 billion Chinese yuan, or $735 million, and that the state-backed virtual currency “reaffirms our economic sovereignty.” Tweet Tweet Caracas said that
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Tesla’s cloud system was hijacked by hackers who used it to mine cryptocurrency, according to researchers. Hackers were able to infiltrate the automaker’s Kubernetes administration console because it was not password protected, cybersecurity firm RedLock said Tuesday. Kubernetes is a Google-designed system aimed at optimizing cloud applications. This left access credentials for Tesla’s Amazon Web
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After seven years of restructuring that involved cutting thousands of jobs and bank branches, HSBC has turned itself around with profits rising more than 140 percent over the last year. But the job of strengthening the bank is not over, Chairman Mark Tucker said Wednesday, as the ever-changing global environment calls for a more agile
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Check out the companies making headlines after the bell Tuesday: LendingClub stock plunged 10 percent after the bell. The peer-to-peer lending company reported earnings and revenues that missed Wall Street estimates. The loss that was reported was partially due to the newly disclosed settlement of class action lawsuits. The settlement is worth $125 million. Weak
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Mandel Ngan | AFP | Getty Images President Donald Trump speaks during the Public Safety Medal of Valor Awards Ceremony in the East Room of the White House on February 20, 2018 in Washington, DC. President Donald Trump announced Tuesday that he has recommended that “bump stocks” — devices used to make semi-automatic weapons capable
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U.S. drug developer Aimmune Therapeutics said on Tuesday its peanut allergy drug met the main goal of an eagerly awaited late-stage study, sending its shares up 18 percent premarket. The positive trial data comes nearly four months after French drug developer DBV Technologies‘ stick-on patch failed to sufficiently desensitize patients with the allergy, but the
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Domino’s Pizza on Tuesday reported fourth-quarter same-store sales that missed estimates,fueling worries that the delivery chain’s sales could be weakening and sending shares lower in morning trading. Investors also assessed a report by Brazil Journal, citing people with knowledge of the matter, that said Restaurant Brands International is putting together a bid to buy Domino’s.
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The Tax Cuts and Jobs Act passed by Congress late last year represents the most significant changes to the tax code since 1986. The changes are biggest for corporate taxpayers. C corps will see their statutory tax rate decline from 35 percent to 21 percent, and pass-through corporate entities — partnerships, sole proprietorships and S
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Largest U.S. standalone medical device maker Medtronic reported a third-quarter profit in-line with analysts’ estimates, as sales across all its units, except the minimally invasive therapies business, grew. Sales in its cardiac and vascular unit which sells defibrillators, pace-makers, heart valves and stents jumped 10 percent to $2.8 billion, accounting for nearly 40 percent of
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Home Depot on Tuesday reported fourth-quarter earnings and sales that topped Wall Street’s expectations, as more shoppers flocked to its stores and spent more per trip. The home improvement retailer’s stock was climbing around 1 percent Tuesday morning on the news. Here’s what Home Depot reported compared with what analysts were expecting, based on a
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Walmart on Tuesday reported earnings that missed analysts’ expectations for the holiday period as its e-commerce operations cooled off, overshadowing the fact that same-store sales and revenue surpassed forecasts. The company’s gross margins took a hit during the quarter due to promotional activity and an ongoing war with Amazon to win a larger share of
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