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Amazon’s stunning growth in the internet advertising market will boost the company’s shares, according to Piper Jaffray. The firm reaffirmed its overweight rating for the internet giant’s stock, predicting its ad business profits will surpass its cloud computing income by 2021. “While the Street has been focusing on the trajectory of core retail, growth of
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2. What should I do with distributions? Generally, distributed money is subject to income taxes and a 10 percent early withdrawal penalty if you’re under 59½ years old (except in certain circumstances). If you want the money before you reach 59½, you’ll pay 20 percent to 40 percent in taxes and penalties. Federal rules require
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The federal funds rate is the only interest rate the Fed directly controls. A negative, or zero percent, real federal funds rate at the time when the key inflation indicators are exceeding or hitting the upper limits of the Fed’s medium-term inflation targets inspires no particular confidence that the price stability will be painlessly restored
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Previously, tax professionals pondered whether enterprising employees could leave their jobs, start their own business, and be rehired by their old company as independent contractors. This way, these new entrepreneurs could qualify for the 20 percent deduction. The IRS also put the kibosh on that. “If you worked for the employer and became an independent
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A major Papa John’s franchisee group on Friday publicly urged the chain’s founder, John Schnatter, to move on from the company, as it continues to be rocked by the events following his use of the N-word on a conference call. Schnatter, who owns nearly 30 percent of the company, gave up his post as chairman
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Naspers is putting more money into LetGo, a mobile marketplace for used goods that competes with Craigslist, eBay, and Facebook Marketplace, along with start-ups like OfferUp. Naspers has committed to pour $500 million more into LetGo, with $150 million invested so far. LetGo was earlier backed by NEA, Insight Venture Partners, Accel and others. Novo
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1933: Saudi Aramco is born out of an agreement between Saudi Arabia and California-based oil company Socal. This agreement, like many granted to big U.S. and British oil companies at the time, gave it the exclusive right to explore and extract oil on Saudi territory. 1944: The California Arabian Standard Oil Company was renamed the
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The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of Intel Karen Finerman was a buyer of Lowe’s Dan Nathan was a buyer of Twitter Guy Adami was a buyer of Ralph Lauren Trader disclosure: On August 9, 2018 the following stocks and commodities mentioned or intended
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