Global shares mostly lower as investors look to G-20 meeting

Posted on: June 26th, 2019 by ABC News No Comments

Global shares are mostly lower as investors await developments in trade friction between the U.S. and China at the Group of 20 meeting of major economies in Japan later in the week

Asian shares mostly lower as investors look to G-20 meeting

Posted on: June 25th, 2019 by ABC News No Comments

Asian shares are mostly lower as investors awaited developments on the trade friction between the U.S. and China at the Group of 20 meeting of major economies in Japan later in the week

FedEx loses $2 billion, warns of headwinds in coming year

Posted on: June 25th, 2019 by ABC News No Comments

FedEx says earnings in the year ahead will be hurt by slowing economic growth and a decision to drop a contract with Amazon

Amazon is doubling down on Prime Day this year

Posted on: June 25th, 2019 by ABC News No Comments

AdrianHancu/iStock(NEW YORK) — Amazon is doubling down on Prime Day, saying on Tuesday its annual make-down event for Prime members will be held July 15 and 16, after being a single-day event in years past.

“Prime Day 2019 will feature more than one million deals globally, including the biggest Prime Day deals ever on Alexa-enabled devices,” Amazon said in a press release. It will start at midnight on July 15.

Some consumer research groups consider Prime Day a kick-off for the back-to-school shopping season.

Surveyed parents said they shop an average of 11 retailers during Prime Day sales, according to discount shopping firm RetailMeNot. In addition, 84 percent of retailers said the week of Prime Day is the most important window for back-to-school shopping.

This year’s lineup underscores the company’s focus on its Alexa smart assistant, as it pushes steep discounts on products that enable Amazon technologies to keep customers in its ecosystem.

Some deals are available now until June 30, including an Alexa-enabled Toshiba HD 43-Inch Fire TV Edition Smart TV for $179.99 — a $120 savings — and the myQ Smart Garage Hub + Amazon Cloud Cam (Key Edition), which enables in-garage Amazon deliveries and is currently offered at $99.98, a discount of 40 percent.

Amazon first started Prime Day 2015 to mark its 20th anniversary, and it was promoted as a kind of summer Black Friday event. This year, customers in the United Arab Emirates can shop the event for the first time, as well as shoppers in the U.S., U.K., Spain, Singapore, Netherlands, Mexico, Luxembourg, Japan, Italy, India, Germany, France, China, Canada, Belgium, Austria, and Australia.

It’s also a day that promotes Prime membership, which costs $119 a year.

There are 101 million Amazon Prime members, according to Consumer Intelligence Research Partners in 2019. In 2018, Amazon founder Jeff Bezos wrote in a shareholders letter that they have “exceeded 100 million paid Prime members globally.”

Copyright © 2019, ABC Radio. All rights reserved.

Tariff concerns, 3Q outlook drag Lennar’s stock down

Posted on: June 25th, 2019 by ABC News No Comments

Shares of Lennar are coming under pressure due to tariff concerns and a disappointing 3Q forecast

Powell says economy facing growing uncertainties

Posted on: June 25th, 2019 by ABC News No Comments

Fed Chairman Powell says economic outlook has darkened with rising uncertainty from trade and global growth

Stocks move lower as investors wait for trade updates

Posted on: June 25th, 2019 by ABC News No Comments

U.S. stocks moved broadly lower as investors pulled back and watched for developments on trade negotiations between the U.S. and China

Markets Right Now: Stocks lower ahead of Powell speech

Posted on: June 25th, 2019 by ABC News No Comments

Stocks are lower on Wall Street at midday Tuesday with technology and communications stocks leading the declines.

Women serving in the military reserves fight for paid maternity leave

Posted on: June 25th, 2019 by ABC News No Comments

Tara Fajardo Arteaga(WASHINGTON) — The thousands of women who serve the United States in the military reserves hope a piece of legislation will give them access to paid maternity leave.

The Mothers of Military Service (MOMS) Leave Act is being considered by Congress as a possible amendment to the 2020 National Defense Authorization Act. If passed, it would give moms across all reserve components of the military, including the National Guard, pay and points for 12 pay periods following pregnancy and childbirth.

The legislation is advocated for by servicewomen like Tara Fajardo Arteaga, who has given birth to three children during her decade of service in the U.S. Army National Guard.

“You want to have kids and be able to be successful,” said Fajardo Arteaga. “I’m successful in my civilian career and they let me have maternity leave and come back and succeed and get promotions.”

“In the National Guard I’m stuck,” she said.

Under the current system, women in the military’s reserve components can take time off after giving birth but they are not paid and do not receive valuable points that count toward retirement for their missed drills and training weeks. In the Army National Guard, women are also not allowed to go trainings during their pregnancy and for six months after, according to Fajardo Arteaga, who lives her husband and three children in Kansas City, Mo.

“If I don’t go to the training I can’t get promoted and it ends up being about 16 months that you can’t go to trainings,” she said. “I missed out on a $20,000 bonus because I wasn’t promoted.”

“It’s inequality. It’s discrimination,” Fajardo Arteaga said. “This is 2019, come on.”

Halston Johnson, 28, a five-year-veteran of the U.S. Army Reserves, said she has seen women in her unit come back too quickly after giving birth just because they cannot afford to lose pay.

In Johnson’s case, she and her husband skimped and saved so she could take four months off after the birth of their son, Warren, nearly two years ago.

When she did return, Johnson recalled facing physical pressures as well, from pumping breast milk while out in the field to getting back in physical shape.

“You have six months after the birth of your child to pass your [physical] test and your height and weight,” she said. “Unfortunately for me I was not one of the lucky few who drops the weight instantly with breastfeeding. It was almost the opposite.”

“I took a risk and told myself the health of my child is trumping the requirements,” Johnson added. “I may get in trouble with the test but I’m going to take care of my child.”

Active-duty servicewomen were granted up to 12 weeks of paid maternity leave through the 2017 National Defense Authorization Act. Each military branch then has its own “service-specific guidance” consistent with the Department of Defense (DOD) policy.

The policy does not apply to women who are not active-duty in the reserve components of the Armed Forces, which include the Army National Guard, the Army Reserve, the Navy Reserve, the Marine Corps Reserve, the Air National Guard, the Air Force Reserve and the Coast Guard Reserve.

A Department of Defense spokesperson confirmed the structure of the policy but declined to comment on the MOMS Leave Act as it is pending legislation.

The MOMS Leave Act is bipartisan legislation supported by leaders ranging from Sen. Jerry Moran, a Republican from Kansas, to Sen. Tom Udall, a Democrat from New Mexico.

“We owe a deep debt of gratitude to our all of our service members who make enormous sacrifices to keep the nation secure, and part of repaying that debt means ensuring that women in the National Guard and Reserves get the same paid maternity leave as their active-duty counterparts,” Udall said in a statement to “GMA.” “It’s just basic fairness – and common sense.”

“I am urging my colleagues to support this bipartisan, amendment that would even the playing field so that no military mom has to choose between caring for their newborns or receiving pay and retirement credits,” he said. “We should take the opportunity we have before us with the defense bill to make sure that all military moms are treated equally as they serve our nation.”

The issue was brought to the attention of Sen. Moran by Kelly McManus, an active duty captain in the U.S. Army who is currently serving as a Defense Fellow in Moran’s Washington, D.C. office.

“As a female service member I’ve been close to many women who have really struggled with the question of having children while in the military and whether to stay in the military,” she said. “The military has lost some really extremely talented service members because of this.”

McManus said even with the maternity leave she would get as an active duty soldier, she too has “struggled” with whether she would be able to be pregnant without hurting her career.

“It was very surprising to learn that these women [in the reserves] weren’t afforded the same maternity leave as I am as active duty,” she said. “As of right now they are expected to be at their next drill after giving birth.”

“The notion of expecting a women after childbirth to be able to conduct a military training, which is a really rigorous exercise, is hard to comprehend and isn’t in keeping with the military’s mission to take care of its service members,” McManus added.

The fight for paid maternity leave currently underway in the military is a dilemma faced by women across the U.S.

The United States is the only country among 41 industrialized nations that does not mandate paid maternity leave, according to 2016 data from the Organization for Economic Cooperation and Development (OECD).

Just 15 percent of all private workers have access to paid family leave, according to data released last year by the U.S. Bureau of Labor Statistics (BLS). The federal government does not currently offer paid leave to new parents.

Copyright © 2019, ABC Radio. All rights reserved.

Taylor Swift just trademarked her new kitten, Benjamin Button

Posted on: June 25th, 2019 by ABC News No Comments

Steve Granitz/WireImage(NEW YORK) — You’re not officially part of Taylor Swift’s cat family until you get trademarked.

After previously trademarking “Meredith & Olivia Swift” — the names of her first two cats — Swift is now working on a trademark that includes her newest kitty, Benjamin Button.

According to the official Trademark Office server, her company TAS Rights Management has applied for a trademark of “Meredith, Olivia & Benjamin Swift.” This legal move will allow her to cash in on merchandise featuring all three of her prized pets.

She filed an application June 19 and the trademark covers goods and services like “Jewelry; Jewelry charms; Bracelets; Rubber or silicone wristbands in the nature of a bracelet; Jewelry boxes; Jewelry cases” and much more.

“Plush toys; Stuffed toys; Stuffed toy bears; Stuffed toy animals” and even kitchen linens are covered under the trademark.

Last year, Taylor put Meredith and Olivia’s likenesses on T-shirts, earrings, pens, makeup cases and stickers. The merch is then available for sale on her website.

She added Benjamin to her family this year after falling in love with the kitten on the set of her music video for “ME!”

Copyright © 2019, ABC Radio. All rights reserved.

China criticizes possible US penalties against banks

Posted on: June 25th, 2019 by ABC News No Comments

China has criticized Washington’s efforts to enforce US law abroad following a report three Chinese banks might be penalized in a case over dealings with North Korea

AbbVie makes $63B bid for Botox maker Allergan

Posted on: June 25th, 2019 by ABC News No Comments

AbbVie is buying Botox maker Allergan in a deal valued around $63 billion

Investing in a Ferrari? The stock may be even hotter than a car these days

Posted on: June 25th, 2019 by ABC News No Comments

Morgan Korn(NEW YORK) — Want a Ferrari but can’t afford a car? There’s another way to own a piece of the legendary Italian marque.

A Ferrari fan could spend $215,000 on the Portofino, the company’s newest convertible sports car and entry level model, or buy 1,335 shares of the company, which was recently trading at $162 on the New York Stock Exchange (ticker symbol RACE).

An ultra-rare and exclusive Ferrari, like the iconic 250 GTO from the 1960s, commands millions and millions of dollars. Take the car or 267,000 shares?

One obvious downside to owning Ferrari stock: not being able to drive your investment. There’s the adrenaline rush when mashing the throttle, the raw thrill of hearing the engine scream and the soundtrack of nirvanic burbles and growls emanating from the exhaust pipes.

Ferrari stock, however, is even hotter than the cars. Shares have spiked more than 65 percent since the start of the year. For investors who bought stock at Ferrari’s IPO in October 2015, the return has exceeded 221 percent.

So what’s worth more over time: A Ferrari car or stock?

It depends on which Ferrari you buy. The current crop of production cars — the Portofino, Lusso, 812 Superfast, 488 Spider — will not be worth much in the coming years.

“I would not buy a new Ferrari as an investment,” Eric Minoff, a specialist in the motoring department at Bonhams auction house, told ABC News. “Barring inflation, the selling price won’t exceed what the cars sold for new.”

Instead, the real money can be made with Ferraris that have a racing heritage. Bonhams sold a 1962 Ferrari 250 GTO in 2014 for $38.1 million, which set a new world auction record at the time. That was broken four years later, when RM Sotheby’s found a buyer willing to drop $48.4 million for one. A third 250 GTO exchanged hands for $70 million in a private sale.

“The 1960s are seen as the halcyon era of motorsports,” Minoff explained. “Ferrari made only 36 GTOs. The most valuable Ferraris will always be the racing versions from the 1960s. Ferraris with two seats, no windows and no top are also more valuable.”

Like the stock market, classic car investing has its ups and downs. The cars that will hold their value over time are vintage, limited edition ones that were produced in very small quantities. Competition among investors heats up when exceptional cars like the GTO find their way to auction.

“People will always pay more for what they can’t have,” said Minoff. “Over the last 20 years only three to four 250 GTOs have been offered. On the whole they will always be worth a lot of money.”

Dietrich Hatlapa, founder of the Historic Automobile Group International (HAGI), an investment research company that focuses on the rare classic motorcar sector, said a car’s racing pedigree is one of the biggest drivers in value. HAGI launched four indices in 2008 to track the performance of historical vehicles.

The HAGI Top Index, which includes 50 models from 19 brands, is down 5.4 percent year-to-date but overall has an annualized rate of return of 13 percent in 38 years. HAGI’s Ferrari Index by comparison has fallen nearly 7 percent in the same time frame but had seen double-digit growth rates until 2016. Its annualized rate of return is 14.8 percent since launching 38 years ago.

Low interest rates have forced smart money to park cash in assets with greater return potential, Hatlapa told ABC News.

Even though the current market for classic car investing may be down from its peak in 2013, there’s another reason ultra-wealthy investors are committing serious amounts of cash for vintage Ferraris.

“It’s not always about the financial return,” Hatlapa said. “There’s a pride of ownership. Wanting to be seen. Financials are not a reason people buy these cars.”

Dietrich agreed that Ferrari’s mass production vehicles will be money losers over the long term, especially ones with high mileage.

“The best way to preserve value is not to drive them,” he explained. “People buy two of the same car. One for driving, one for putting away.”

Stephen Reitman, an analyst with Societe Generale, said there’s evidence Ferraris have become more attainable than they were in the past, especially in regards to the newer models.

“There is a misconception about Ferrari that it makes Veblen goods,” he told ABC News, referring to the economic theory that demand for a product rises as the price increases and that expensive goods are inherently higher quality.

“There is a certain demand for a Ferrari but it’s not unlimited,” he added.

Ferrari, unlike its competitor Porsche, has a problem selling cars in China, the world’s largest automotive market. Just 8 percent of the 9,251 Ferraris delivered worldwide in 2018 went to China. The largest market for Ferrari is Europe, where 45.7 percent of cars were delivered in 2018. The Americas accounted for 32.4 percent of Ferrari sales versus 7 percent for China last year.

The wealthy Chinese do not drive sports cars and prefer to be chauffeured, Reitman noted. The anti-corruption push by the current government has also led to unwanted attention on supercar owners.

Reitman, who has a neutral rating on Ferrari stock and a 12-month price target of $118, said he’s confident in the company’s new CEO Louis Camilleri. Previous management pushed volume of lower-priced series cars at any cost while Camilleri has put an emphasis on higher-end models like the upcoming mid-engined SF90 Stradale plug-in hybrid supercar, which is expected to be priced around 400,000 euros ($456,000).

“The Portofino is the best-selling Ferrari now in terms of volume,” he said. “The SF90 is a clear indication to push the brand away from trying to recruit entry-level buyers, a sector where there is a lot of competition. New management has taken a smarter approach to realizing the potential of the business.”

Not every Ferrari, despite the prancing horse logo, is a long-term price appreciator, he pointed out.

“Some Ferraris from the 1990s can be bought now for less than the selling price,” he said.

As for the limited edition cars like the Monza SP1 and SP2, of which only 499 will be made, Reitman recalled longtime Ferrari owners “chomping at the bit” when the cars were unveiled last fall at a private event in Maranello, Italy.

“Being told that they had to choose and could only buy one of them made [the owners] want to get both even more,” he said.

John Murphy, an analyst at Bank of America Merrill Lynch, is bullish on Ferrari stock with a buy rating and a $150 price target. He said the Icona series cars (the Monza SP1 and SP2), as well as the other 15 all-new or redesigned models that Ferrari announced as part of its 2018-2022 business plan, will help broaden the product lineup and boost revenue.

“All the cars Ferrari makes — the mass market ones and limited editions — are very important to the company,” he told ABC News. “Ferrari is so tight with its customer base. Management listens to its customers and builds what they want.”

Murphy applauded Ferrari for delaying the release of its upcoming Purosangue, a crossover-like vehicle that’s on track to be unveiled in 2022.

The company, under Camilleri’s director, has chosen to focus on more classic Ferrari cars and designs, he noted, a strategy that will benefit the company in the coming years. Unlike competitors who “rushed” their sport-utility vehicles, the Purosangue will be a small part of the product portfolio, he said.

He expects both Ferrari investors and owners to see good returns.

“Overall, the stock will continue to work and do fairly well over the long term,” he said. “The cars are worth the money. The pure driving experience is unparalleled to almost any other experience in life.”

Morningstar analyst Richard Hilgert, who has a one star rating on Ferrari, said shares are trading at a steep premium to his fair value estimate of 70 euros (about $80).

“We view this stock as too overpriced relative to our forecast for the automaker’s healthy cash flow generation and superior returns on invested capital,” he told ABC News.

As for an SUV, he said the company was right to hold off on production and think carefully about the decision, as to not offend Ferrari loyalists. He would like to see Ferrari adapt to the times and changing regulatory environment by pursuing electric sports cars. Moreover, the new CEO, despite being a “Ferrarista,” has never run a luxury goods company prior to Ferrari, he said.

What Ferrari really needs to focus on in the coming years is maintaining brand exclusivity and producing vehicles that its high-net-worth clientele feel they “have to own,” Hilgert said.

RM Sotheby’s, which sold a Ferrari 250 GT for a record $48.4 million last year, will auction 25 to 30 vintage Ferraris in August.

Barney Ruprecht, a car specialist at RM Sotheby’s, said he still expects the 250 GTO to rise in value but “incrementally and not at the same aggressive velocity that we’ve seen.”

“It’s the most valuable car in the world,” he told ABC News. “The GTO is the pinnacle of the Ferrari world. Ferraris are the most important cars we sell.”

Cars generally do not make a good investment, he acknowledged. Yet the car collector market, which he says will grow as more men in their 20s, 30s and 40s become interested in vintage cars, is based on passion.

Just don’t confuse the newer, mass production Ferraris for collectables. They’ll never be in the same league as the 250 GTO, 250 Testa Rossa, La Ferrari or Ferrari Enzo, he said.

Minoff said for those without a pile of cash to spend on a “blue chip” Ferrari or modern car like the Portofino, the Ferrari Mondial, which was produced from the mid-1980s through the 1990s, could satisfy that desire.

“You can still enter the pantheon of Ferrari ownership at the price of a used Honda Accord,” he said. “But maintenance will still be very high.”

Unlike the stock, which is open to all investors, Ferrari brass weed out potential customers and make owners jump through hoops to get a car, said Ruprecht.

Added Minoff: “Ferrari has more people wanting them than cars to sell. That cost is exclusivity.”

Copyright © 2019, ABC Radio. All rights reserved.

Hong Kong protests signal alarm special freedoms fading

Posted on: June 25th, 2019 by ABC News No Comments

China promised that for 50 years after Britain gave up control of its last colony in 1997, this shimmering financial enclave would get to keep freedoms absent in the communist-ruled mainland that many here don’t want to live without

Global stocks sink ahead of Trump-Xi meeting at G-20 summit

Posted on: June 25th, 2019 by ABC News No Comments

Global stocks have sunk as traders look ahead to a meeting between the US and Chinese presidents amid hopes for talks on ending their trade fight

Treasury Inspector General to probe delay of Harriet Tubman $20 bill

Posted on: June 25th, 2019 by ABC News No Comments

Kativ/iStock(WASHINGTON) — After receiving a request from Democratic Minority Leader Sen. Chuck Schumer, D-N.Y., the Treasury Department has agreed to look into why the redesign of the $20 bill, featuring former slave and abolitionist Harriet Tubman, will not be released in 2020.

The redesigned note was originally scheduled for release next year as part of an Obama-era initiative, but at a congressional hearing in May, Treasury Secretary Steven Mnuchin announced that the bill would not be released until after President Donald Trump leaves office.

Mnuchin made the case for the delay during a hearing last month, stating that it was necessary to accommodate anti-counterfeiting measures. He has not offered his opinion on the bill redesign.

Last week, Schumer asked the Treasury Department’s inspector general to probe the Trump administration’s decision to push back the production of the new bill, speculating that political considerations might have influenced the decision to delay the release. Schumer’s letter referenced comments made by Trump in 2016 when he said the endeavor to remove President Andrew Jackson from the front of the $20 bill was “pure political correctness.”

The Treasury Department’s acting inspector general, Rich Delmar, wrote back in a letter to Schumer — released Monday — that the department has agreed to “investigate the circumstances surrounding the Department of Treasury’s decision to delay redesign of the $20 note featuring the portrait of Harriet Tubman, including any involvement by the White House in this Decision” as per Schumer’s request.

The plan to review the new note design process will be incorporated into the Treasury Department’s scheduled audit of the Bureau of Engraving and Printing’s process for crafting new notes and implementing security features.

“I believe this approach will efficiently address the concerns expressed in your request,” Delmar wrote in the letter to Schumer.

Delmar also specified that the investigation will look into the $20 bill and that the department will take action if they uncover any misconduct.

“It will specifically include review of the process with respect to the $20 bill. If, in the course of our audit work, we discover indications of employee misconduct or other matters that warrant a referral to our Office of Investigations, we will do so expeditiously,” he added.

Delmar stated that the review process will likely take 10 months to complete.

Schumer said he is “pleased” with the investigation.

“I’m pleased the inspector general will review this matter and hope it is conducted in an expeditious fashion,” Schumer said in a statement. “The motivation for the Trump administration’s decision to delay the release of the new note has not been credibly explained, and the inspector general’s review must get to the bottom of this.”

Copyright © 2019, ABC Radio. All rights reserved.

AbbVie to buy rival pharmaceutical company Allergan in "transformative" deal valued at $63 billion

Posted on: June 25th, 2019 by ABC News No Comments

AbbVie to buy rival pharmaceutical company Allergan in "transformative" deal valued at $63 billion

Financial tips from the ‘Marie Kondo of money’

Posted on: June 25th, 2019 by ABC News No Comments

MarioGuti/iStock(NEW YORK) — Marie Kondo taught the world how to find joy in tidying up and now another guru from Japan is here to teach Americans how to find joy with one of the most stressful things in many of their lives: money.

Ken Honda is a bestselling author known as Japan’s “zen millionaire.” His approach to money is similar to what Kondo preaches about household items.

“Worrying about money and appreciating money, you cannot do it at the same time,” Honda told ABC News’ Good Morning America. “If you start appreciating money, you won’t be worrying about money.”

Honda started his own company at age 21 and was so successful he was able to semi-retire just eight years later when his daughter was born. He attributes his success to his mentor, who taught him that happiness around money is the key to making more.

“Don’t let money make you miserable,” he said. “Money can be your friend and help you do well in life. To do that, you have to transform your relationship with money.”

Honda wrote his latest book, Happy Money, for a U.S. audience in hopes of transforming Americans’ relationship with money, particularly that they spend too much and then stress about it.

“I think the difference is Japanese people save too much and I think American people spend too much,” he said. “It’s the same as dieting where if you eat too much, you’ll become big and if you eat too little, you become thin.”

“It’s a balance and everybody is different,” Honda said.

The main thing to know about Honda’s approach is that people need to learn gratitude for money.

For instance, if you are paying bills, instead of complaining or stressing about paying the electric bill, you appreciate that the money for the bill gives you light and air conditioning. Likewise when your paycheck is deposited into your bank account, you stop and appreciate that money has come into your life.

“It doesn’t cost anything,” he said of his approach. “Money appreciates if you appreciate it.”

One key to showing gratitude for money is that it will also force you to pay attention to your bank account, but in a more positive way.

“You have to learn about money, otherwise money controls you,” Honda explained. “For a lot of people money is a scary thing so if you want to change that, think, ‘Money is my friend.'”

“And if you can go deeper, you can say, ‘Money is love,'” he added.

Here are three more tips from Honda for finding joy with money:

1. Use the word ‘arigato’

Arigato means “thank you” in Japanese.

Honda said his philosophy can be boiled down to this simple phrase, “Arigato in, arigato out.”

That just means saying thank you to money when it comes in to your possession, and saying thank you to money when it goes out of your hands. It also means saying “arigato,” or “thank you,” to yourself too, according to Honda.

2. Know happy money vs. unhappy money

There are two different types of flows of money in people’s lives, according to Honda: happy money and unhappy money. Honda compares them to energy flows.

“Happy money is the kind of money where a 10-year-old boy buys a flower for his mom on Mother’s Day, or you make a donation to a charity or you set aside money for your kids’ soccer lessons,” Honda said. “When you receive it you know the love and friendship and care from money.”

“Unhappy money is alimony you get from an unhappy divorce or money from the job you hate but you have to do it to make a living or money you don’t want to spend, like paying bills,” he said.

The key to financial freedom is putting yourself in the happy money flow, according to Honda.

Changing the flow of money in your life goes again back to gratitude. When it comes to work, appreciating the work you do and the people you work with can increase your happy money flow, according to Honda. The same for spending money.

“If you find the perfect product or service … and you feel excited and lucky to have found it, you are increasing your positive flow of Happy Money,” Honda writes in his book. “Whenever you feel joy and excitement for a service or product and you show your appreciation, you are sending Happy Money out into the world.”

3. Heal your emotions around money

Maybe you lost a lot of money, maybe your parents didn’t have money or maybe you and a partner argued about money. Honda’s approach is to let it go.

“Unless you heal the money wounds you cannot make peace with money,” he said. “Forgive yourself for being so confused and so fearful about money and that starts the healing.”

Honda’s advice is to imagine the exact situations where money made you fearful, like sitting at the kitchen table as a kid while your parents fought about money.

“As an adult you may understand why your parents had fights or a divorce or struggled with money. You can feel that and if you feel that you can start forgiving,” he said. “You can start understanding and relating to what is going on.”

Honda also stresses the importance of forgiving yourself too.

“We all make stupid mistakes, including millionaires,” he said. “A lot of millionaires have to lose all their money three times in order to make their first million.”

“The key,” Honda added, “is to appreciate your life and money.”

Copyright © 2019, ABC Radio. All rights reserved.

Need a Slurpee at the beach? 7-Eleven will deliver you one

Posted on: June 25th, 2019 by ABC News No Comments

anouchka/iStock(NEW YORK) — If you need a 7-Eleven fix but don’t have access to one of the convenience stores, they just got a lot more convenient: 7-Eleven will bring their store to you.

Specifically, the store will deliver Slurpees or most everything else they sell right to you thanks to their app, 7NOW, and a series of 2,000 nationwide hot spots called 7NOW Pins.

The pins let 7-Eleven deliver right to you, wherever you may be — whether it’s catching rays at the beach, or just hanging around at the park.

“Sometimes things can get inconvenient away from home,” said Raghu Mahadevan, 7-Eleven vice president of delivery, in a statement announcing the delivery idea. “It could be running out of ice and charcoal at a picnic or a hungry Little League team demanding pizza and Slurpee drinks after a big game.”

He added, “7NOW makes ordering and getting delivery in about 30 minutes a reality for customers whether they’re at a park, a ballfield, arena, venue, and of course, at home.”

7NOW serves nearly 30 major metropolitan areas, from Austin, Texas to Washington D.C., and more than 23 million households.

Copyright © 2019, ABC Radio. All rights reserved.

Nissan governance steps, board win shareholders’ approval

Posted on: June 25th, 2019 by ABC News No Comments

Nissan wins shareholder approval for governance reforms, keeping Chief Executive Hiroto Saikawa on its board

Asian stocks sink ahead of Trump-Xi meeting at G-20 summit

Posted on: June 25th, 2019 by ABC News No Comments

Asian stocks have sunk as traders look ahead to a meeting between the US and Chinese presidents amid hopes for talks on ending their trade fight

Asian stocks lower ahead of Trump-Xi meeting at G-20 summit

Posted on: June 25th, 2019 by ABC News No Comments

Major Asian stock markets have declined as traders looked ahead to a meeting between the US and Chinese presidents amid hopes for talks on ending their trade fight

Treasury’s watchdog to look into Tubman bill delay

Posted on: June 24th, 2019 by ABC News No Comments

Treasury’s Inspector General to look into what Harriet Tubman bill was delayed

Markets Right Now: Stocks trade mixed on Wall Street

Posted on: June 24th, 2019 by ABC News No Comments

Stocks are trading mixed at midday on Wall Street as gains for technology companies are offset by losses in health care and other sectors.

Tariffs weighing on manufacturers’ optimism, survey shows

Posted on: June 24th, 2019 by ABC News No Comments

Manufacturers see the Trump administration’s trade policies as a bigger challenge than the economy

Stocks start the week sideways ahead of trade talks

Posted on: June 24th, 2019 by ABC News No Comments

U.S. stocks opened the week mixed as investors focus on planned trade talks between the U.S. and China

Supreme Court sides with designer over allegedly offensive trademark

Posted on: June 24th, 2019 by ABC News No Comments

YinYang/iStock(WASHINGTON) — In a 6-3 decision, the Supreme Court on Monday sided with a Los Angeles designer who sought to trademark “FUCT” for his clothing line but was blocked by a federal law prohibiting registration of “immoral or scandalous” ideas.

The court said the law violates the First Amendment.

“There are a great many immoral and scandalous ideas in the world (even more than there are swearwords),” wrote Justice Elena Kagan in the majority opinion. “The Lanham Act covers them all. It therefore violates the First Amendment.”

Chief Justice John Roberts and Justices Stephen Breyer and Sonia Sotomayor dissented, in part, in the decision. The trio would have struck down the “immoral” portion of the law but retained a ban on “scandalous”ideas.

“Refusing registration to obscene, vulgar or profane marks does not offend the First Amendment,” Roberts wrote in his dissent. “Whether such marks can be registered does not affect the extent to which their owners may use them in commerce to identify goods.”

“FUCT” — which founder Erik Brunetti says is pronounced by saying each letter — was denied a trademark because the government deemed it “scandalous” and “immoral.” But the trademark office has approved registration of the terms “FCUK,” “THE F WORD,” and “F’D.”

The Trump administration, which defended the Act, argued that it wasn’t taking a position on the speech itself but rather the “mode of expression,” invoking a public interest in limiting exposure to profanity among children and others who find it hurtful.

In 2017, the Supreme Court struck down a similar part of the federal trademark law — one which had banned trademark registration for “disparaging” language. The justices said, in a unanimous opinion, that “giving offense is a viewpoint” protected by the First Amendment.

This is a developing story. Please check back for updates.

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What the SEC’s new ‘best interest’ rule means for you

Posted on: June 24th, 2019 by ABC News No Comments

SEC has passed a new rule surrounding brokers; what it means for you

Fashion influencer’s marriage proposal may have been monetized for social media

Posted on: June 24th, 2019 by ABC News No Comments

cclickclick/iStock(NEW YORK) — A three-day scavenger hunt that led to what looked like a fairy tale proposal — complete with tears, dancing and going down on one knee at a chateau in France — was actually a carefully crafted advertisement.

Gabriel Grossman, a VP at Morgan Stanley, popped the question to his longtime girlfriend, Marissa Fuchs, a fashion influencer known as @fashionambitionist with over 198,000 followers and director of brand partnerships at Goop.

But the over-the-top multi-day romantic adventure that took the pair from New York City to the Hamptons, Miami and Paris, generated some skepticism by those who followed it unfold on social media.

The pair posted the series of events on Instagram stories with the hashtag #RielLove and shared a highlight reel of the events.

The elaborate proposal was revealed to be a highly produced advertising pitch after it was leaked that Grossman hoped to score sponsorships for the big moment, as initially reported by The Atlantic.

One advertising executive, Bryan Pederson, who said he saw Grossman’s pitch, told ABC News it’s not clear if Fuchs knew of the plans herself.

“Her friends and her fiancé — they put together a professional deck — it had all the details, there was a hashtag in there,” he explained. “She knew a deck existed, but again, I don’t think we’ll ever know for sure.”

Grossman, along with the help from a social media expert and friend of his now fiancé, had offered the impending engagement to marketers at various brands and agencies, but he claimed Fuchs never knew about it.
 
Both Grossman and Fuchs maintain that the proposal itself was a surprise and the bride to be told the New York Times, “I was completely and utterly in shock … I was so mind-blown that this was happening.”

Grossman also told the Times that he paid a little under $50,000 out of pocket on dinners, hotels and flights but did score handouts from Flywheel, Glamsquad and a discount on jewelry from Jade Trau. The jewelry brand was tagged on their social media posts throughout the three day long excursion.

“Jade Trau has a very close relationship with Marissa,” Grossman told the New York Times. He also said he “paid $4,000 for the pieces, but they would have been retail [for] $10,000 or $12,000.”

Pedersen explained that for influencers “the space is getting more and more competitive” and that they “do things to reach audiences the way they wouldn’t have before.”

The couple’s story showed how influencers have continued to push the envelope in a world where they can capitalize and monetize personal, intimate moments.

“Did she know or did she not know?” Pedersen posited. “And that is what brands are really hoping for today, they’re trying to make sure that they’re still reaching consumers in that authentic way.”

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Air Canada investigating after woman left in empty, locked airplane

Posted on: June 24th, 2019 by ABC News No Comments

BrendanHunter/iStock(NEW YORK) — Imagine what it would be like to fall asleep during your flight, and then wake up on a pitch-black, empty aircraft.

Tiffani Adams doesn’t need to imagine. She was asleep less than halfway into her 90-minute Air Canada flight from Quebec City to Toronto’s Pearson International Airport on June 9. When she finally woke up, she was alone on the empty, dark aircraft, which had been parked and locked at the airport — leaving her to figure out how to escape after the flight crew somehow overlooked her as she snoozed in her seat.

Adams described her ordeal in detail on Air Canada’s Facebook page. She recalls in the post, “I wake up around midnight, few hours after the flight landed, freezing cold still strapped in my seat in complete darkness.”

Adams said she couldn’t call for help because her phone was out of power and, with the plane’s power off, the USB chargers at the seats didn’t work. Neither did the cockpit radio work without power, and while she got the door open, it was too far a drop to the tarmac to jump.

Adams eventually located a flashlight and began shining it out of the plane, hoping to attract attention. That’s how she caught the eye of a baggage attendant, who drove a ladder truck to the plane to rescue her.

Adams said she was immediately approached by an Air Canada representative on the ground who offered to get her a limo or hotel room, but she just wanted to go home. She said she’s still struggling to sleep following the incident.

“I haven’t got much sleep since the reoccurring night terrors and waking up anxious and afraid I’m alone locked up someplace dark,” Adams said in the post.

Air Canada has declined to comment, other than to say they’re reviewing the incident.

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