J&J loses $39.8 billion in market value after report claims J&J knew about asbestos in baby powder

Investors sold off shares of Johnson & Johnson on Friday after a Reuters report said the company knew for decades that its baby powder contained asbestos, an allegation J&J has denied.
Health and Science

U.S.HEALTHCARE UPDATE:

Click today to request your free ACRX discount prescription card and save up to 80% off of your medicine!

SPECIAL DONATION REQUEST UPDATE:

Please help American Consultants Rx achieve it’s biggest goal yet of donating over 30 million discount prescription cards to over 50k organizations in an effort to assist millions of Americans in need. Please click here to donate today!

Bad communication is why the stock market has been so down

It’s the holiday season. The economy is the best its been in over a decade. So what’s got the stock market so down? To make a holiday cocktail as strong as our current volatility, you’d need several key ingredients. The bartender would add two shots of Federal Reserve — way more than needed. A shot…
Business | New York Post

SPECIAL DISCOUNT UPDATE:

Market experts: Don’t bail on stocks in 2019

Don’t bail out on the stock market just because your stomach can’t take it, market pros suggested last week. Yes, it will continue to be a rocky ride for investors. And yes, a bear market will eventually come (if not for a couple of years). But neither the stock market nor the economy is likely…
Business | New York Post

SPECIAL DISCOUNT UPDATE:

Foxconn Considers Bringing Chinese Workers to Wisconsin as U.S. Labor Market Tightens

Facing one of the tightest labor markets in the U.S., Foxconn has been trying to tap Chinese engineers through internal transfers to supplement staffing for its planned Wisconsin plant, according to people familiar with the matter.
WSJ.com: WSJD

SHOPPING DISCOUNTS UPDATE:

Buy.com (dba Rakuten.com Shopping)

Work Report 2018 – For Now, It’s An Employee’s Market

FRIDAY SAW THE RELEASE OF THE OCTOBER JOBS REPORT. WHAT WAS IN IT?

Overall, Friday’s jobs report contained really positive news. According to the Labor Department, the economy added 250,000 jobs in October. That did not change the unemployment rate, which held steady at 3.7%, tied with the lowest rate December 1969.

But most importantly, we saw strong wage growth and labor market participation figures, which tell us that more Americans are finally seeing better numbers on their paychecks. Wages increased 3.1% from a year earlier, the best year-over-year gain for average hourly earnings since 2009.

And the percentage of prime-working-age adults — those between 25 and 54 — rose to 79.7 percent, up from 79.3 percent in September. However, there is still room for growth here, as that figure was 80.3 percent in January 2007 and 81.9 percent in April 2000.

WHY ARE WAGES RISING?

This is primarily a story about the labor market. With relatively few unemployed Americans looking for work, to secure access to qualified employees, companies are increasingly having to raise wages to attract workers away from other employers. That has been the case the past few years for higher skilled jobs such as engineers or technology workers, but now we are seeing the same thing play out for lower-wage jobs

HOW DOES THIS WAGE GROWTH COMPARE TO PRE-RECESSION LEVELS?

While it is undoubtedly good news compared to the past decade, in historical terms wage growth remains soft given the strength of the economy and the tight labor market. In the early 2000s and late 1960s, wages were growing at 4% or better year over year. However, part of this may be tied to worker productivity, which was growing faster during those periods, and is often a factor in wage growth rates.

CAN WE EXPECT WAGE GROWTH TO CONTINUE?

Based on what we know about the tight labor market and the fundamentals of the economy, it seems likely we will continue to see wages grow. What we do not know is if growth will continue to be significantly higher than inflation in order for Americans to see real gains in purchasing power.

For example, if workers who have sat on the sidelines continue to look for jobs and push labor market participation higher, wage growth could slow. If worker productivity increases, wage growth could pick up. We will have to wait and see.

WHAT ONGOING EFFECTS DO RISING WAGES HAVE ON THE ECONOMY?

Higher wage growth will have a ripple effect across the economy. These job and wage numbers mean we are likely to see consumers continue to spend money. U.S. consumer spending rose for a seventh straight month in September.

That is good news for the economy as a whole. However, wage growth could dampen investor optimism and impact the markets.  Higher wages mean increased labor costs for companies and will certainly revive concerns the Fed will continue to hike interest rates, making borrowing more expensive for companies and individuals alike.


HEAD BACK TO THE BLACKAMERICAWEB.COM HOMEPAGE

 

Mellody Hobson is President of Ariel Investments, a Chicago-based money management firm that serves individual investors and retirement plans through its no-load mutual funds and separate accounts. Additionally, she is a regular financial contributor and analyst for CBS News.

 

 

 

Life & Style – Black America Web

BEST DEAL UPDATE:

Next steps to take after stock market unpredictability

So now that the market correction is over, it’s time to take stock, engage in a little self-reflection of your buys or sells, if you made any at all. But it’s also a time for the Trump administration to do some soul-searching and review its handling of the hysteria that gripped the markets and kitchen…
Business | New York Post

SPECIAL DISCOUNT UPDATE:

Luxury car owners trade up for American pickups as Ford, GM and Dodge trucks dominate market

While trucks have traditionally been the sort of vehicles you'd expect to see on a farm or at a work site, demand has been surging among regular buyers who are opting out of sedans and coupes and replacing their family vehicles with pickups and SUVs.
Tech

BEST DEAL UPDATE:

Home flippers are fleeing the market as their profits shrink

A combination of higher costs and lower demand is putting a chill on the once hot house-flipping market. Following the epic housing crash, flippers bought up distressed properties at bargain prices, fixed and flipped them to residents or investors.
Real Estate

BEST DEAL UPDATE:

Easily Sell Your Home With ForSaleByOwner! A Home Sells with ForSaleByOwner Every 44 Minutes!

The big number from the October jobs report could be bad news for the market

October's nonfarm payrolls report Friday could bring some good news for the jobs market, which might be bad news for the stock market.
Economy

ECONOMY NEWS UPDATE:

Click today to request your free ACRX discount prescription card and save up to 80% off of your medicine!

SPECIAL DONATION REQUEST UPDATE:

Please help American Consultants Rx achieve it’s biggest goal yet of donating over 30 million discount prescription cards to over 50k organizations in an effort to assist millions of Americans in need. Please click here to donate today!

Increase Your Market Share: How to Woo Homeowners That Have Yet to be Influenced

More than 80% of homeowners request quotes before they know who they want to work with or the product brand they prefer. If you’re hyper-focused on increasing your own SEO and brand awareness, you’re missing out on a larger reach of homeowners that have yet to be influenced.

By understanding homeowners’ consumer behavior, you’ll be able to achieve the competitive edge and increase your market share. Watch our webinar recording here to learn ways your business can increase your market share such as:

  • Insights into Modernize’s proprietary homeowner survey data,
  • Uncovering homeowner buying trends,
  • Tactics to case a wider net by leveraging homeowner consumer behavior,
  • Digital marketing tips and tricks for today’s residential home improvement companies.

To capture a piece of the 1.5 million homeowners that find their contractor through Modernize each year, contact us here!

The post Increase Your Market Share: How to Woo Homeowners That Have Yet to be Influenced appeared first on Modernize.

Modernize

BEST DEAL UPDATE:

Stocks just broke a key level and what’s next could decide fate of bull market

The stock market sell off sent the S&P 500 below a key level Tuesday morning, and how it trades next could determine whether the market is close to finding a bottom or more selling is ahead.
Top News & Analysis

COMMUNITY NEWS UPDATE:

Click today to request your free ACRX discount prescription card and save up to 80% off off of your medicine!

SPECIAL DONATION REQUEST UPDATE:

Please help American Consultants Rx achieve it’s biggest goal yet of donating over 30 million discount prescription cards to over 50k organizations in an effort to assist millions of Americans in need. Please click here to donate today!

JP Morgan’s widely-followed market analyst says it’s time to buy the dip

J.P. Morgan is telling its clients to make the most of the market's massive sell-off this week. 
Top News & Analysis

COMMUNITY NEWS UPDATE:

Click today to request your free ACRX discount prescription card and save up to 80% off off of your medicine!

SPECIAL DONATION REQUEST UPDATE:

Please help American Consultants Rx achieve it’s biggest goal yet of donating over 30 million discount prescription cards to over 50k organizations in an effort to assist millions of Americans in need. Please click here to donate today!

10.11.18 Obamacare premiums going down; Google security breach; Stock market troubles

Obamacare premiums are going down to the surprise of many. Also, a couple of new laws could make it easier for you to save on prescription drugs; Google’s security breach was not handled well. Clark tells you to start using Duck Duck Go instead of Google’s search tool; The stock market has had a tough couple of days. Clark gives his thoughts.

Learn more about your ad choices. Visit megaphone.fm/adchoices

Watch the video
clark.com

BEST DEAL UPDATE:

Back To School Sale – Get up to 40% OFF stylish footwear at Payless.com

The Stock Market Cleaned Out Billionaires Over the Past Week. Here’s Who Lost the Most

Billionaires have won big in the long-running bull market that may be teetering on the edge of ending. But they’re also set to lose big. Over the past week, the world’s wealthiest have collectively dropped about $ 50 billion in estimated net worth.

What’s $ 50 billion among the world’s uber-rich? Enough to leave a mark, that’s for sure, but they aren’t hurting for cash–yet. For perspective though, in addition to being the amount of evaporating wealth, $ 50 billion is also the amount of the U.S. trade deficit in July, the first round of Trump’s tariffs against China, and the market value of Target–with $ 5 billion to spare.

So how exactly has the stock market selloff impacted the net worth of world’s richest people? Here’s who took the biggest bath this week, and how much it cost them:

Jeff Bezos (-$ 15 billion)

Amazon’s founder, the world’s richest person, stood to lose the most. And that he did. Jeff Bezos’ net worth dropped from $ 161 billion a week ago down to $ 140 billion on Thursday. That still puts him standing arms akimbo on top of the heap of lesser billionaires, but his company’s focus on consumer goods, which could be further affected by import tariffs and trade wars, could push him closer to more diversified super rich.

Bernard Arnault (-$ 5.9 billion)

Arnault is the longtime chairman and chief executive of LVMH (Mo?t Hennessy Louis Vuitton SE), the world’s largest luxury goods company. He’s also the richest person in Europe, and accordingly, his net worth went down with the crash, from $ 73.5 billion to $ 67.6 billion. At one point, he was down to $ 66.9 billion, but his portfolio seems to be rebounding already.

Warren Buffet (-$ 5.4 billion)

Even the Oracle of Omaha couldn’t predict the market volatility of this past week. Buffet initially saw gains from the $ 90 billion he started with a week ago, climbing to $ 92 billion by Oct. 9. But ultimately, he came crashing down, finishing Oct. 11 with an estimated $ 84.6 billion

Pony Ma (-$ 4 billion)

The China-based Tencent is one of the world’s largest Internet companies, and Pony Ma (Ma Huateng) is the founder, chairman, and chief executive, and maintains extensive holdings in the company. While Tencent dominates Chinese gaming, chat, investment, and other arenas, the global stock pullback pushed his net worth from $ 32 billion down to $ 28 billion.

Bill Gates (-$ 3.9 billion)

Microsoft co-founder Bill Gates has shifted out of the fast-paced life of a technology dominator into the role of public-health and education philanthropist. But despite regular transfers of wealth to the Bill and Melinda Gates Foundation, he doesn’t find himself pulling his pockets inside out for change. Gates, the second-richest person in the world, saw his worth drop from $ 98.7 billion to $ 94.80 billion in the last week.

Larry Page (-$ 3.8 billion)

Google co-founder Larry Page remains actively involved in the management of Alphabet, the holding company of Google and other ventures, has been buffeted lately by concerns about the company navigating forward with a reported China-targeted search engine acceptable that country’s censors, and military-contracting work. Page’s net worth dropped from $ 57.10 to $ 53.30 billion since Oct. 4.

Fran?ois Pinault (-$ 3.8 billion)

Fran?ois Pinault, among France’s richest people and the head of one of the nation’s wealthiest families, is the 82-year-old self-made billionaire behind Kering, which owns a large array of luxury-goods brands, like Gucci, LVMH, and Yves Saint Laurent. He also personally owns Christie’s, the long-established auction house. His portfolio slumped from $ 32.4 billion to $ 28.6 billion.

Sergey Brin (-$ 3.6 billion)

Google’s other co-founder has similar holdings and suffered similar losses as his partner, Larry Page, with Sergey Brin dropping from a reported $ 55.6 billion to $ 52 billion.

Frank Wang (-$ 2.54 billion)

Frank Wang may seem like an outlier and a relative unknown in this list, with a net worth estimated on Oct. 11 of just $ 6.74 billion. But he’s also one of the biggest net losers, dropping from $ 9.28 billion in the last week. Wang’s holdings are tied up in DJI, the biggest maker of commercial and civilian drones in the world, and a company he founded in 2006. As a privately held company, estimates of his net worth over the short term may be more volatile, but DJI has a high degree of exposure to Trump’s trade wars with China from several angles, including the cost of raw goods globally and import tariffs imposed on the lucrative American market potentially reducing revenue.

Steve Ballmer (-$ 2.4 billion)

Bill Gates’s earliest lieutenant, Ballmer took over Microsoft for several years and missed out on the mobile revolution. Forced from the company, he’s found solace in $ 40.1 billion of personal wealth, down from $ 42.50 billion a week ago–and his ownership of the Los Angeles Clippers NBA basketball team.

Mark Zuckerberg (-$ 2.1 billion)

Despite the many investigations, disclosures, and security problems Facebook has faced in recent months, Mark Zuckerberg saw the least losses among his dot-com peers. He was worth $ 62.9 billion a week ago, and now $ 60.8 billion.

Fortune

SPECIAL NEWS BULLETIN:

http://www.acrx.org -As millions of Americans strive to deal with the economic downturn,loss of jobs,foreclosures,high cost of gas,and the rising cost of prescription drug cost. Charles Myrick ,the President of American Consultants Rx, announced the re-release of the American Consultants Rx community service project which consist of millions of free discount prescription cards being donated to thousands of not for profits,hospitals,schools,churches,etc. in an effort to assist the uninsured,under insured,and seniors deal with the high cost of prescription drugs.-American Consultants Rx -Pharmacy Discount Network News

CHARITY UPDATE:

Click today to request your free ACRX discount prescription card and save up to 80% off of your medicine!

SPECIAL DONATION REQUEST UPDATE:

Please help American Consultants Rx achieve it’s biggest goal yet of donating over 30 million discount prescription cards to over 50k organizations in an effort to assist millions of Americans in need. Please click here to donate today!

Dover Street Market Introduces Danish Jeweler Griegst During Frieze

FATHER TO SON: Arje Griegst forged a unique path as a jeweler and sculptor, since founding his eponymous label in the Sixties, and now a whole new generation has the chance to own — and wear — his work.
Two years after his father’s death, Noam Griegst is setting out to honor his legacy and bring pieces from his archive alive. They’re currently on display — and for sale — outside Copenhagen for the first time at Dover Street Market in London. The store is debuting 10 reissued designs by the late jeweler during the Frieze Art Fair, which runs until Sunday.
Griegst’s commitment to craftsmanship was unrivaled: He made his first piece of cutlery at age 10, received a De Beers Prize at 19 and went on to create a world of his own inside his Copenhagen studio, designing sculpted pieces in gold and precious stones and often receiving commissions from the Danish Royal Family.
“A single ring could take two years to make. He would cast it in wax, again and again, until it was perfected, and in the meantime we were all starving at home and my mum would go completely crazy,” Noam said in an interview. “I’ve been working

Follow WWD on Twitter or become a fan on Facebook.

Read More…
WWDWWD

BEST DISCOUNT ONLINE:

‘Rip-roaring hot’ jobs market sees private payrolls surge by 230,000, highest since February

Job growth surged in September to its highest level in seven months as the economy put up another show of strength, according to a report Wednesday from ADP and Moody's Analytics.
Economy

ECONOMY NEWS UPDATE:

Click today to request your free ACRX discount prescription card and save up to 80% off of your medicine!

SPECIAL DONATION REQUEST UPDATE:

Please help American Consultants Rx achieve it’s biggest goal yet of donating over 30 million discount prescription cards to over 50k organizations in an effort to assist millions of Americans in need. Please click here to donate today!