Fed’s Beige Book says wages, prices growing at ‘modest to moderate’ rates

Labor markets remain tight throughout the country The Fed’s snapshot: Wages and prices moved higher in the Federal Reserve’s 12 districts through mid-October but not faster than a “modest to moderate” pace, according to the latest Beige Book report released by the central bank on Wednesday. Districts across the country reported tight labor markets. Firms […]

New-home sales plunge to a near two-year low as housing picture deteriorates

Year-to-date sales are just 3.5% higher than in the same period last year. The numbers: New-home sales ran at a seasonally adjusted annual rate of 553,000 in September, the Commerce Department said Wednesday. Sales of newly-constructed homes swooned to the lowest since December 2016. September’s selling pace of 553,000 was 5.5% lower than in August, […]

Consider one of these tools to up your money game

Is there one money habit we should all adopt? Q: What money habit do you recommend most to your clients, and why? The financial habit I recommend most is to sign up for a digital tool, like Mint.com or YNAB, to automatically track your spending. The virtue of using these tools is that, simply put, […]

AMD’s stock craters more than 20% after weak graphics sales

Chip maker reports computing and graphics sales of $938 million while Street expected $1.05 billion Advanced Micro Devices Inc. shares plummeted in the extended session Wednesday after the chip maker’s outlook and revenue fell short of Wall Street estimates owing to weaker-than-expected graphics sales as blockchain-related became a negligible part of the company’s business. AMD […]

Data being ‘weaponized’?

The head of Apple on Wednesday endorsed tough privacy laws for both Europe and the U.S. and renewed the technology giant’s commitment to protecting personal data, which he warned was being “weaponized” against users. Speaking at an international conference on data privacy, Apple CEO Tim Cook applauded European Union authorities for bringing in a strict […]

Sporting brands merge

Fairfax Financial Holdings Ltd. says it is merging its Sporting Life Inc. and Golf Town Ltd. brands. The Toronto-based company says the two sporting goods retailers will operate separately with their own branding and management teams, but will make joint investments in technology, staffing and their supply chains. Fairfax and Signature Global Asset Management, a […]

BoC raises rates

UPDATE 7:10 a.m. The Bank Canada raises its key interest rate target by a quarter of a percentage point. The central bank’s target for the overnight rate is now set at 1.75 per cent. ORIGINAL 5:19 a.m. With some trade uncertainty now out of the way, the Bank of Canada is widely expected to hike […]

Banks follow prime hike

The cost of loans linked to the big bank prime rates are headed higher in the wake of the Bank of Canada’s decision to raise its key interest rate target by a quarter of a percentage point. The Royal Bank of Canada, Bank of Montreal, CIBC and TD Canada Trust says they are raising their […]

Author who studies millionaires: Don’t play the lottery if you want to get rich

When was the last time you played the lottery? If the answer is “yesterday,” you might want to keep reading. The media likes writing stories about lottery winners because the masses like reading about those stories. For those who consistently play the lottery, the stories offer a sort of validation. But the fantasy of winning […]

If your employer doesn’t offer a 401(k), you can still save for retirement. Here’s how

Nearly 42 million Americans work for small businesses. Just 14 percent of small employers offer a retirement plan, according to the U.S. Government Accountability Office. What’s worse: Most workers without a workplace plan have no retirement savings, U.S. Secretary of Labor Alexander Acosta said in a press conference this week. The Labor Department this week […]