4 hours ago | CNBCChina's consumers spent $73.6 billion on luxury goods at home last year, up 36% from 2020
BEIJING — Chinese consumers are spending more on luxury goods at home, even if they can't easily travel abroad due to pandemic-related restrictions, consultancy Bain & Company said in its annual report on the luxury sector.Sales of personal luxury goods in mainland China rose by 36% to 471 billion yuan ($73.59 billion) in 2021 from the prior year, according to Bain estimates released Thursday. That's more than double the 234 billion yuan in luxury goods spending on the mainland in 2019, before the pandemic.The growth in luxury goods sales comes despite a slump in Chinese retail sales overall since the pandemic began in 2020. The data also reflects the growth of China's domestic market as a destination for international brands.
10 hours ago | Yahoo FinanceBitcoin stealers: malware that raid crypto wallets
It's not just big organisations who lose millions as a result of cryptocurrency theft, hackers also target individual users to steal small amounts, new data revealed.According to Chainalysis, the blockchain data platform, scammers stole a record $14bn (£103bn) in cryptocurrency in 2021, with losses from crypto-related crime rising 79% compared with 2020.In its latest report it said sophisticated attacks take careful planning and skill to pull off, but through other types of malware, hackers can take a cheaper “spray-and-pray” approach, spamming millions of potential victims and stealing smaller amounts. The malware families sampled received 5,974 transfers from victims in 2021, up from 5,449 in 2020.
11 hours ago | CNBCStock futures rise following S&P 500's worst week since March 2020
Stock futures rose slightly in overnight trading Sunday, following the S&P 500's worst week since March 2020, as investors awaited more corporate earnings results and a key policy decision from the Federal Reserve.Futures on the Dow Jones Industrial Average edged up 120 points. S&P 500 futures climbed 0.5% and Nasdaq 100 futures rose 0.9%.The overnight action followed a brutal week on Wall Street in the face of mixed company earnings and worries about rising interest rates. The S&P 500 lost 5.7% last week and closed below its 200-day moving average, a key technical level, for the first time since June 2020. The blue-chip Dow fell 4.6% for its worst week since October 2020.The sell-off in the tech-heavy Nasdaq Composite was even more severe with the benchmark dropping 7.6% last week, notching its fourth straight weekly loss. The index now sits more than 14% below its November record close, falling deeper into correction territory.
16 hours ago | CNBCInflation surge could push the Fed into more than four rate hikes this year, Goldman Sachs says
Accelerating inflation could cause the Federal Reserve to get even more aggressive than economists expect in the way it raises interest rates this year, according to a Goldman Sachs analysis.With the market already expecting four quarter-percentage-point hikes this year, Goldman economist David Mericle said the omicron spread is aggravating price increases and could push the Fed into a faster pace of rate increases."Our baseline forecast calls for four hikes in March, June, September, and December," Mericle said in a Saturday note to clients. "But we see a risk that the [Federal Open Market Committee] will want to take some tightening action at every meeting until the inflation picture changes."
22 hours ago | Yahoo FinanceHow one sneaker seller avoided the supply chain woes that snarled retail
Like most retail operators, sneaker players found themselves battered by COVID-19 and supply chain disruptions — except one. Sneaker seller GOAT Group, known primarily for its secondary market offerings, excelled amid global bottlenecks by leveraging supplier diversity. Once a symbol of athleticism, sneakers have transformed into a fashionable — and often pricey — object of desire. From sportswear to catwalk fashion, the footwear category has made its mark as a “hot” commodity — and GOAT's key to success is giving consumers what they want on its platform, when they want it.
Jan 22, 2022 | Yahoo FinanceThe Week Ahead – Earnings, the FED, and a Busy Economic Calendar in Focus
It’s a busy week ahead on the economic calendar, with 60 stats in focus in the week ending 28th January. In the week prior, 57 stats had been in focus.Early in the week, prelim private sector PMIs for January and consumer confidence will be in focus.The markets will be looking for a pickup in service sector activity and consumer confidence.On Thursday, 4th quarter GDP and jobless claims will also draw interest. At the end of the week, also expect plenty of interest in inflation and personal spending figures.
Jan 22, 2022 | Yahoo FinanceInflation keeping house prices high, even with rising mortgage rates
If you're a homebuyer hoping for a break on home sale prices amid rising mortgage rates, it's likely not happening this year, or next. Aside from record-low inventory, a big culprit for even higher home prices points to inflation."It'll [inflation] keep them positive. I don't expect to see 18% in price appreciation. That's a function of all the stimulus that was in the economy and the urge to move away from the virus," Doug Duncan, chief economist at Fannie Mae told Yahoo Finance. "But we do expect house prices to be positive."
Jan 22, 2022 | Yahoo FinanceWhy Netflix's growth story may not be over as Wall Street frets subscriber woes
Netflix (NFLX) shares plunged more than 20% on Friday — its biggest decline since October 2014 — after the streaming giant reported slowing subscriber growth in the fourth quarter, amid an already crowded streaming landscape.The platform added a relatively weak 8.3 million subscribers in Q4, and forecasted a net add of only 2.5 million subscribers in the current quarter, compared to 3.98 million during the first quarter last year. But top media analysts have argued that this is not time to panic.
Jan 22, 2022 | Yahoo FinanceWhat NFL star Ndamukong Suh learned from Warren Buffett
When he's not crushing the competition as a defensive tackle with the Super Bowl Champion Tampa Bay Buccaneers, Ndamukong Suh is busy scoring with his portfolio of investments — with a little help from Warren Buffett.Suh told Yahoo Finance Live that the Oracle of Omaha taught him to invest in companies “that have great intrinsic value” and to always be patient.“That’s one of the best tools I've ever learned from him,” said Suh. “It's about being patient, understanding that this company you believe in has strong roots. It's going to have to weather the storm, but most likely if it's a very strong company, it'll come out better on the other side.”
Jan 21, 2022 | Yahoo FinanceThe Four-Letter Code That Will Change Your Life
Which of these two is you?a) You invested in Amazon, Apple, Google, or Netflix early on before they became stock market favorites b) You missed out on some of the biggest gains of the past two decadesIf you're in the first group, you know exactly what to do with this opportunity.If you're in the second group, don't worry! You now have the opportunity to invest in a company that has the potential to become "America's Next Big Monopoly."
Jan 21, 2022 | Yahoo FinanceUK first-time buyer numbers rise at record rate
First-time buyer (FTB) numbers rose at a record rate despite low affordability, according to new analysis from Halifax.The figure was up 35% year-on-year to 409,370. In 2020 the figure had been down 13% when compared with the year prior.Halfiax said the average first-time buyer age in 2021 was 32 and put down a £53,935 ($73,508) deposit on a property costing £264,140. The average age was up from 29 in 2011 and is now over 30 in every UK region.
Jan 21, 2022 | Yahoo FinanceWhich? reveals best broadband, TV and mobile deals
Brits who “make a nuisance of themselves” by haggling for cheaper mobile and broadband deals could be saving more than £100 (£135) a year, while those willing to switch to a different provider could save more than £200 amid high inflation.This comes as BT (BT-A.L) said it will raise broadband and telephone prices by more than 9%. The increase means most of its 14 million customers will pay an extra £3.50 a month, or £42 annually, on average for phone and broadband bills from the end of March.
Jan 21, 2022 | Yahoo FinanceThe Weekly Wrap – Risk Aversion Swept the Markets, Delivering USD and JPY Support
It was a busy week on the economic calendar, in the week ending 21st January.A total of 57 stats were monitored, which was up from 45 stats in the week prior.Of the 57 stats, 22 came in ahead forecasts, with 28 economic indicators coming up short of forecasts. 7 stats were in line with forecasts in the week.Looking at the numbers, 20 of the stats reflected an upward trend from previous figures. Of the remaining 37 stats, 33 reflected a deterioration from previous.
Jan 21, 2022 | Yahoo FinanceUPDATE 1-U.S. dollar net long bets slide to lowest since mid-Sept 2021 -CFTC, Reuters data
(Adds analyst comment, details, CFTC table, bitcoin futures) By Gertrude Chavez-Dreyfuss NEW YORK, Jan 21 (Reuters) - Speculators' net long positioning on the U.S. dollar dropped in the latest week to its lowest level since mid-September 2021, according to calculations by Reuters and U.S. Commodity Futures Trading Commission data released on Friday. The value of the net long dollar position fell to $12.59 billion for the week ended Jan. 18, from $19.34 billion the previous week. Scotiabank, in its report after the release of the CFTC data, said this was one of the largest weekly declines in long dollar positioning since mid-2020. U.S. dollar positioning was derived from net contracts of International Monetary Market speculators in the Japanese yen, euro, British pound, Swiss franc, as well as Canadian and Australian dollars. In a wider measure of dollar positioning, which includes net contracts on the New Zealand dollar, Mexican peso, Brazilian real and Russian rouble, the greenback posted a net long position of $13.028 billion this week, from $19.906 billion in the prior week. "Investors were gripped with a sudden, and perhaps short-lived, given subsequent developments, burst of enthusiasm for the euro last week as spot euro showed some fleeting strength and tested levels near $1.15," said Shaun Osborne, Scotia's chief FX strategist, in the report. Data showed euro net longs rose to 24,584 contracts this week, from 6,005 the previous week. In the case of the dollar, higher Treasury yields have not boosted the greenback as much, with many investors taking the view that most of the recent hawkishness from the Federal Reserve has already been priced in. So far this year, the dollar index has been flat even though U.S. 10-year Treasury yields have risen 20 basis points. The benchmark yield was last at 1.7705%. In cryptocurrencies, bitcoin futures' net short positions dropped to 549 contracts this week, from 377 the previous week. The latter was the smallest net short since late September. Bitcoin and crypto sentiment overall has been fragile for most of the month, as investors moved away from riskier assets ahead of Federal Reserve meeting next week, which is expected to flag an interest rate increase in March. The world's largest digital currency has also been affected by news that Russia has proposed a ban on the use and mining of cryptocurrencies. Bitcoin was last down 10% at $36,660, after earlier dropping to a six-month low. Since the beginning of the year, bitcoin has lost 20% of its value versus the dollar. Japanese Yen (Contracts of 12,500,000 yen) $8.821 billion 18 Jan 2022 Prior week week Long 8,002 22,364 Short 88,881 109,889 Net -80,879 -87,525 EURO (Contracts of 125,000 euros) $-3.48 billion 18 Jan 2022 Prior week week Long 211,901 204,361 Short 187,317 198,356 Net 24,584 6,005 POUND STERLING (Contracts of 62,500 pounds sterling) $0.021 billion 18 Jan 2022 Prior week week Long 39,760 30,506 Short 40,007 59,672 Net -247 -29,166 SWISS FRANC (Contracts of 125,000 Swiss francs) $1.473 billion 18 Jan 2022 Prior week week Long 925 4,571 Short 11,735 12,231 Net -10,810 -7,660 CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars) $-0.599 billion 18 Jan 2022 Prior week week Long 49,792 44,284 Short 42,300 51,660 Net 7,492 -7,376 AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie dollars) $6.353 billion 18 Jan 2022 Prior week week Long 9,051 12,383 Short 97,505 103,869 Net -88,454 -91,486 MEXICAN PESO (Contracts of 500,000 pesos) $-0.121 billion 18 Jan 2022 Prior week week Long 75,461 53,194 Short 70,541 57,645 Net 4,920 -4,451 NEW ZEALAND DOLLAR (Contracts of 100,000 New Zealand dollars) $0.564 billion 18 Jan 2022 Prior week week Long 11,612 10,960 Short 19,943 19,564 Net -8,331 -8,604 (Reporting by Gertrude Chavez-Dreyfuss Editing by Chris Reese and David Gregorio)
Jan 21, 2022 | Yahoo FinanceJohn R. Lewis award winner details idea at the ‘intersection of technology and racial justice’
John R. Lewis 2022 Case Competition winner Vivian Chong joins Yahoo Finance Live to discuss her team's proposal of investing in a tech hub based in Atlanta, identifying racial tech gaps across industries, and the prospective participants for this educational training program.
Jan 21, 2022 | Yahoo FinanceStudent loans are holding back millennials who want to be homebuyers
National Association of Realtors Vice President of Demographics and Behavioral Insights Jessica Lautz joins Yahoo Finance Live to discuss how student loan debt is preventing millennials from owning a home, rising trends, liquidity, the housing market, mortgage rates, and the outlook for real estate in 2022.
Jan 21, 2022 | Yahoo FinanceOne day after Trump said Nancy Pelosi should be banned from stock trading, she said she’s open to it
Nancy Pelosi said on Thursday that she would consider proposals to ban stock trading by members of Congress, reversing the stance she took on the issue in December. The remarks also happened to come one day after former President Donald Trump advocated a ban on stock trading—for Pelosi."It's not right. It's not appropriate," Trump told far-right news outlet Breitbart on Wednesday. "She should not be allowed to do that with the stocks…It's not fair to the rest of this country," he said.
Jan 21, 2022 | CNBCStocks making the biggest moves midday: Netflix, Peloton, Disney and more
In this articleCheck out the companies making headlines in midday trading.Netflix – Shares of the streaming giant tanked 21%, on pace for their worst day since July 2012. The steep sell-off came after Netflix admitted that streaming competition was eating into its own growth in its fourth-quarter earnings release Thursday. Other media companies with streaming services also saw shares fall after Netflix issued lower-than-expected subscriber guidance. Disney shares fell 5.6%, while ViacomCBS dropped about 6%, and Discovery lost roughly 4%.Peloton – Shares of the at-home fitness company saw a roughly 11% bounce on Friday after a major wipeout Thursday, when investors sold shares following a CNBC report that the company is halting production of its bikes and treadmills. Peloton then said Friday that it's reviewing production levels and considering layoffs.
Jan 21, 2022 | Yahoo Finance17 killed in Ghana explosion, U.S.-Russia talks continue over Ukraine, Biden to meet with Japanese PM
Yahoo Finance Live's Akiko Fujita discusses the explosion that left 17 dead in Ghana, the meeting between Secretary of State Antoni Blinken and Russian Foreign Minister Sergey Lavrov over Ukraine, and what to expect when President Biden meets with Japanese Prime Minister Fumio Kishida to deepen ties between both governments.
Jan 21, 2022 | Yahoo FinanceUS Dollar Gives Up Early Gains Against Yen for the Week
The US dollar has had a rough week as we initially rallied during the trading week to reach towards the crucial and psychologically important ¥115 level. That is an area that we have seen a lot of noise at, and of course a lot of attention. We sold off quite drastically from that level and now it looks as if this pair could very well break down. At this point in time, the ¥112.50 level underneath should be supportive, and therefore I think that could be our target. If we break down below there, then the market is likely to go looking towards the ¥110 level. All things been equal if we continue to see a major “risk off” type of situation around the world, that will almost certainly weigh upon this pair as well.
Jan 21, 2022 | Yahoo FinanceBritish Pound Testing Trendline on Weekly Chart
The British pound has fallen a bit during the course of the week, after initially trying to rally. The market formed a couple of shooting stars during the course of the week which of course brings in fresh selling, so be interesting to see how that plays out. All things being equal, this is a market that I think will continue to see a lot of noisy behavior, but at the end of the day I do not necessarily think we are quite ready to make a move yet. At this point, if we break down below the 1.35 handle, then I think the longer-term traders will continue to push this market around. At that point, we could very well go looking towards the 1.32 level again.
Jan 21, 2022 | Yahoo FinanceBritish Pound Breaks Down Significantly Against Yen for the Week
The British pound has broken down rather significantly against the Japanese yen during the course of the trading week, to smash through the ¥155 level without much trouble. At this point time, the market is likely to continue seeing a lot of busy behavior, but the Japanese yen is most certainly a safety currency when it comes to comparison to the reddish pound. Ultimately, I think this is a market that is signaling that we are not only going to see losses here, but probably and a lot of other places as well. Quite frankly, the pair had gotten far too parabolic in the environment that we are in, and therefore I think this is a move that had to happen.
Jan 21, 2022 | Yahoo FinanceEuro Continues to Attempt Building Base During the Week
The Euro has fallen a bit during the course of the week, but it does seem as if there are significant buyers underneath to try to lift this market. You can see I have a little bit of the lavender box drawn on the chart to suggest where consolidation may end up taking place. The question is whether or not we can form a big enough base to turn this thing around, or are we simply looking at a situation where we have a lot of noise and no real overall direction? I think at this point in time it does make a certain amount of sense to think that the only thing you can probably count on is a lot of choppy behavior and that typically means you will be paying attention to shorter-term charts.
Jan 21, 2022 | Yahoo FinanceAustralian Dollar Gives Up Early Gains for the Week
The Australian dollar has initially rallied during the course of the week but then gave back gains. The 0.7250 level above has offered resistance, but then we sold off to form a less than attractive candlestick. After all, the market has ended up forming a bit of a shooting star, just as we did during the previous week. That being said, the Australian dollar has been grinding lower over the longer term, so at this point in time it looks as if we are bouncing a bit, then selling off, only to repeat the entire circumstance.
Jan 21, 2022 | Yahoo FinanceBitcoin price plunges below $39,000 as selloff spreads to crypto
Yahoo Finance's David Hollerith joins the Live show to discuss bitcoin's price drop, interest rates, and the outlook for cryptocurrencies.
End of News List
Investing involves coping with two conflicting realities — especially amid pullbacksPersonal Finance
19 hours ago | Yahoo Finance
The doctor didn't show up, but the hospital ER still billed $1,012Headlines
20 minutes ago | NPR
10 Great TV Show Performances (No One Ever Talks About)Lifestyle
23 hours ago | WhatCulture
AI Weekly: Watson Health and semi-autonomous driving failures show the dangers of overpromising AIAI/ML
Jan 21, 2022 | Venture Beat
Inflation surge could push the Fed into more than four rate hikes this year, Goldman Sachs saysInvestment
16 hours ago | CNBC
Seeing into the future: Personalized cancer screening with artificial intelligenceAI/ML
Jan 21, 2022 | MIT News
Tonga eruption equivalent to hundreds of Hiroshimas, NASA saysHeadlines
51 minutes ago | CBS
Connecticut man accused of berating smoothie shop staffBusiness
3 hours ago | FOX Business
Andrew Garfield Revealed The Only People Who Knew About His "Spider-Man: No Way Home" CameoEntertainment
1 hour ago | BuzzFeed
Girl Who Is “Not Like Other Girls” (Friend Zone Situation)Lifestyle
18 hours ago | Tripp Advice
Hanging Out with Your Ex After a Breakup (The Dos & Don'ts)Lifestyle
17 hours ago | Love Advice TV
AI models are becoming better at answering questions, but they’re not perfectAI/ML
Jan 21, 2022 | Venture Beat
DeepMind co-founder Mustafa Suleyman departs GoogleAI/ML
Jan 21, 2022 | AI News
More Chinese provinces report cases linked to Beijing clustersAsia
1 hour ago | Channel News Asia
UMNO president Ahmad Zahid ordered to enter defence on corruption, money laundering chargesAsia
2 hours ago | Channel News Asia
On Holding AG Stock Could be a New Trend on Many LevelsBusiness
1 hour ago | Entrepreneur
The best and worst portrayals of real-life football coachesSports
14 minutes ago | MSN
Win a $10,000+ Los Angeles, CA theme park trip for 4!Travel
14 hours ago | A Luxury Travel Blog
How one sneaker seller avoided the supply chain woes that snarled retailInvestment
22 hours ago | Yahoo Finance
The Future Of The Metaverse: What 2022 Has In Store For The Immersive Digital WorldTechnology
2 hours ago | Forbes
Under 30 Asia Alum Launches Digital Mental Healthcare Startup Amid Lockdowns And Pandemic StressTechnology
3 hours ago | Forbes
'Wuhan, I Am Here': the documentary following volunteers during China's 2020 lockdownHeadlines
24 minutes ago | Euronews
Coumboscuro: The Italian village that doesn't speak ItalianHeadlines
32 minutes ago | CNN