Buffett says Wall Street advice usually favors more deals

Posted on: February 22nd, 2020 by ABC News No Comments

Billionaire Warren Buffett says taking advice from Wall Street on deals is a bit like asking “the barber whether you need a haircut.”

Buffett says Wall Street advice usually favors more deals

Posted on: February 22nd, 2020 by ABC News No Comments

Billionaire Warren Buffett says taking advice from Wall Street on deals is a bit like asking “the barber whether you need a haircut.”

Opioid settlement still elusive as some lawyers criticize it

Posted on: February 22nd, 2020 by ABC News No Comments

Lawyers for some state and local governments say the deal being offered by companies in a sweeping national settlement over the toll of opioids isn’t enough

Opioid settlement still elusive as some lawyers criticize it

Posted on: February 22nd, 2020 by ABC News No Comments

Lawyers for some state and local governments say the deal being offered by companies in a sweeping national settlement over the toll of opioids isn’t enough

In Trump’s India rally, Modi bets on bolstering his image

Posted on: February 22nd, 2020 by ABC News No Comments

A festive mood has enveloped Ahmedabad, in India’s northwestern state of Gujarat ahead of Prime Minister Narendra Modi’s meeting there on Monday with President Donald Trump, whom he’s promised millions of adoring fans

In Trump’s India rally, Modi bets on bolstering his image

Posted on: February 22nd, 2020 by ABC News No Comments

A festive mood has enveloped Ahmedabad, in India’s northwestern state of Gujarat ahead of Prime Minister Narendra Modi’s meeting there on Monday with President Donald Trump, whom he’s promised millions of adoring fans

Unscripted ‘Friends’ reunion special to launch with HBO Max

Posted on: February 21st, 2020 by ABC News No Comments

WarnerMedia’s new streaming service will debut with some extra “Friends.”

Unscripted ‘Friends’ reunion special to launch with HBO Max

Posted on: February 21st, 2020 by ABC News No Comments

WarnerMedia’s new streaming service will debut with some extra “Friends.”

Greyhound to stop allowing immigration checks on buses

Posted on: February 21st, 2020 by ABC News No Comments

Greyhound, the nation’s largest bus company, says it will stop allowing Border Patrol agents without a warrant to board its buses to conduct routine immigration checks

Greyhound to stop allowing immigration checks on buses

Posted on: February 21st, 2020 by ABC News No Comments

Greyhound, the nation’s largest bus company, says it will stop allowing Border Patrol agents without a warrant to board its buses to conduct routine immigration checks

Wells Fargo agrees to $3 billion settlement over fake accounts

Posted on: February 21st, 2020 by ABC News No Comments

wdstock/iStock(WASHINGTON) — The U.S. Department of Justice and Wells Fargo have agreed to a $3 billion settlement that includes the bank admitting to wrongdoing.

A criminal investigation into the company’s actions found that from 2002 to 2016 Wells Fargo pressured employees to meet unrealistic sales goals, which led to millions of accounts being created without consent from customers, a DOJ official told reporters on Friday.

Wells Fargo, as part of a deferred prosecution agreement, will admit that, among other illegal practices, employees created false records and forged customers’ signatures to open unauthorized checking and savings accounts, in some cases altering customers’ personal information so they wouldn’t be notified of changes to their accounts.

This settlement only pertains to the bank — no protections are extended to current or former employees or executives who may have been implicated in the scandal.

The $3 billion includes a $500 million civil penalty that will be distributed to investors by the Securities and Exchange Commission.

Wells Fargo in January reported a fourth-quarter net profit of $2.9 billion, down from $6.1 billion a year earlier.

For all of 2019, the bank reported a net profit of $19.5 billion.

Copyright © 2020, ABC Audio. All rights reserved.

Wells Fargo agrees to $3 billion settlement over fake accounts

Posted on: February 21st, 2020 by ABC News No Comments

wdstock/iStock(WASHINGTON) — The U.S. Department of Justice and Wells Fargo have agreed to a $3 billion settlement that includes the bank admitting to wrongdoing.

A criminal investigation into the company’s actions found that from 2002 to 2016 Wells Fargo pressured employees to meet unrealistic sales goals, which led to millions of accounts being created without consent from customers, a DOJ official told reporters on Friday.

Wells Fargo, as part of a deferred prosecution agreement, will admit that, among other illegal practices, employees created false records and forged customers’ signatures to open unauthorized checking and savings accounts, in some cases altering customers’ personal information so they wouldn’t be notified of changes to their accounts.

This settlement only pertains to the bank — no protections are extended to current or former employees or executives who may have been implicated in the scandal.

The $3 billion includes a $500 million civil penalty that will be distributed to investors by the Securities and Exchange Commission.

Wells Fargo in January reported a fourth-quarter net profit of $2.9 billion, down from $6.1 billion a year earlier.

For all of 2019, the bank reported a net profit of $19.5 billion.

Copyright © 2020, ABC Audio. All rights reserved.

Deere sees some stability on farms in bruising trade fight

Posted on: February 21st, 2020 by ABC News No Comments

Deere is reporting a surprisingly strong first quarter after an extended period in which the tractor maker was bruised by the ongoing trade war between the United States and China

Deere sees some stability on farms in bruising trade fight

Posted on: February 21st, 2020 by ABC News No Comments

Deere is reporting a surprisingly strong first quarter after an extended period in which the tractor maker was bruised by the ongoing trade war between the United States and China

Watchdog toughens global financial scrutiny of Iran

Posted on: February 21st, 2020 by ABC News No Comments

An international agency that monitors terrorism financing has announced tough new financial scrutiny for Iran and added seven countries to a watch list

Watchdog toughens global financial scrutiny of Iran

Posted on: February 21st, 2020 by ABC News No Comments

An international agency that monitors terrorism financing has announced tough new financial scrutiny for Iran and added seven countries to a watch list

Former Iowa governor, US ag secretary to monitor drugmaker

Posted on: February 21st, 2020 by ABC News No Comments

Former Iowa governor and U.S. Secretary of Agriculture Tom Vilsack has been hired to monitor Purdue Pharma as the OxyContin maker goes through bankruptcy

Former Iowa governor, US ag secretary to monitor drugmaker

Posted on: February 21st, 2020 by ABC News No Comments

Former Iowa governor and U.S. Secretary of Agriculture Tom Vilsack has been hired to monitor Purdue Pharma as the OxyContin maker goes through bankruptcy

Stocks fall, bond prices rise as investors seek safe ground

Posted on: February 21st, 2020 by ABC News No Comments

Stocks fell in midday trading as investors fretted about more signs that a viral outbreak was spreading and a report showing a sharp weakening in U.S. business activity

Stocks fall, bond prices rise as investors seek safe ground

Posted on: February 21st, 2020 by ABC News No Comments

Stocks fell in midday trading as investors fretted about more signs that a viral outbreak was spreading and a report showing a sharp weakening in U.S. business activity

For-profit firm seeking to run .org names makes concessions

Posted on: February 21st, 2020 by ABC News No Comments

A private equity firm seeking to buy rights to operate the internet’s

For-profit firm seeking to run .org names makes concessions

Posted on: February 21st, 2020 by ABC News No Comments

A private equity firm seeking to buy rights to operate the internet’s

Presidents of Russia, Belarus discuss oil price dispute

Posted on: February 21st, 2020 by ABC News No Comments

The presidents of Russia and Belarus have discussed an ongoing oil price dispute that disrupted steady supplies of oil from Russia to its neighboring ex-Soviet state

Presidents of Russia, Belarus discuss oil price dispute

Posted on: February 21st, 2020 by ABC News No Comments

The presidents of Russia and Belarus have discussed an ongoing oil price dispute that disrupted steady supplies of oil from Russia to its neighboring ex-Soviet state

‘More sports cars’: Jaguar’s new design chief makes the case for fewer SUVs

Posted on: February 21st, 2020 by ABC News No Comments

Jaguar Land Rover(NEW YORK) — Julian Thomson does not want to talk about SUVs.

A perfect world for the 58-year-old Brit, who replaced Ian Callum last June as Jaguar’s director of design, would include more sports cars and fewer trucks.

“I don’t know, it’s a mystery to me,” he said when asked why crossovers and SUVs have become so popular worldwide.

Thomson, who has been drawing cars since the age of 4, acknowledged that car design “is changing really, really fast,” but designers like himself and his team of 300 in Gaydon, U.K., “have a better fighting chance” of making a sports car more beautiful than an SUV.

Jaguar, which produced its first car in 1935, has shifted focus away from building the sports cars that once earned a legion of followers. Owned by India’s Tata Motors, the luxury brand has pegged its future on sport-utility vehicles and electrification.

Thomson, however, argued that sports cars can still be relevant in the age of SUVs and lift Jaguar Land Rover from its current financial struggles.

The company recently showed off the latest iteration of its F-TYPE, a two-seater sports car that underwent a face-lift for 2021. The newer model, available in three engine types (a 2.0-liter four-cylinder, 3.0-liter supercharged V6 and a supercharged V8), now boasts more power, upgraded in-car technology and an updated grille and front bumper, among other cosmetic tweaks.

Eighty-two percent of current F-TYPE owners are men and the average age of an owner is 53, according to Jaguar.

ABC News recently sat down with Thomson to discuss why a $62,000 sports car could help to reverse Jaguar’s misfortunes:

How would you describe the new F-TYPE in three words?

Pure, beautiful and balanced.

What would you like to see in the next F-TYPE?

I would say more Jaguar. We’re a brand that really connects with the heart and really has a human side to it. I would like to make sure we do more of that really. We have to be different … even more to stand out. We’re never really going to do things that are outrageous or weird. We do things that are balanced and very beautiful. Very, very natural.

What’s the biggest challenge these days in designing a sports car?

Just getting to design sports cars. Unfortunately, there aren’t many of them in the world. The world is against them. Despite of [environmental and safety concerns] they do represent the ultimate dream of a car. They do represent you riding off into the sunset, they do represent that freedom. If the car is a reflection of the person, it reflects the most beautiful version of you. For a company like Jaguar, which is all about beautiful cars, the sports car always represents that pinnacle. That’s what distinguishes us as a brand — that’s the ultimate realization of beauty, power and innovation for us.

How do you get people to buy more sports cars?

I think you have to connect with young people. A lot of customers who buy them are more experienced drivers. They appreciate the history of them. You have to recreate that in the modern context for younger people. They’ve got to start believing in that dream of driving again.

How do you get women excited about sports cars?

You’re not interested in [setting lap times]. You just want the most beautiful, nicest thing to drive. You have to talk more about the experience of using the car and how you interact with it. We need to make sure it’s not a threatening thing, not a totally macho thing. A lot of designers on our team are female. They love sports cars. They don’t want to be associated with something that is so masculine. We have to think differently about how these cars appear.

You said car designers ought to put their money where their mouth is and buy the cars they design. Have you bought all of the cars you’ve designed?

No, I haven’t. Otherwise I’d have 40 or 50 cars. But I have bought a couple of them. It’s weird how you connect with a car. I’ve bought cars I’ve designed and sometimes you feel like you’re driving around in a sweater you’ve knitted yourself. You feel very self-conscious. Ideally, you design a car that fits with your life stage moment. You sympathize with that car. I designed the Lotus Elise when I was single. I was very limber, I could climb into anything … that car was perfect for my time. When I did the Land Rover LRX I had a couple of kids, I was still trying to be cool, and now I am very fond of the XJ [sedan] but maybe because it’s my stage in life [he laughs].

How do you get people excited again about sedans?

You’ve got to design beautiful sedans. Unfortunately, the sedan market is a difficult place. People buy a sedan because they want a rational product a lot of the time. They’re deliberately designed to be rational. We have to design sedans that you fall in love with.

What type of cars should be the focus for Jaguar?

Just more sports cars maybe. The world needs more sports cars.

What will be your mark on the company? How will you differentiate yourself from Ian Callum?

There’s as much of Ian as me in all the cars we’ve done so far. He’s handed over the baton to me, the responsibility, so that consistency is very, very important. Our focus the last few years is to add a lot of new models to the range. We’ve expanded and grown like no other car manufacturer has … new segments like electric cars and SUVs. A lot of it has been based around growth. I’d like to get us back to probably a more glamorous, romantic vision of Jaguar.

So less SUVs?

I still think SUVs can be exciting. But I want to get the balance back the other way. A bit more into sedans, a bit more into sports cars.

*The interview has been edited and condensed for clarity.

Copyright © 2020, ABC Audio. All rights reserved.

‘More sports cars’: Jaguar’s new design chief makes the case for fewer SUVs

Posted on: February 21st, 2020 by ABC News No Comments

Jaguar Land Rover(NEW YORK) — Julian Thomson does not want to talk about SUVs.

A perfect world for the 58-year-old Brit, who replaced Ian Callum last June as Jaguar’s director of design, would include more sports cars and fewer trucks.

“I don’t know, it’s a mystery to me,” he said when asked why crossovers and SUVs have become so popular worldwide.

Thomson, who has been drawing cars since the age of 4, acknowledged that car design “is changing really, really fast,” but designers like himself and his team of 300 in Gaydon, U.K., “have a better fighting chance” of making a sports car more beautiful than an SUV.

Jaguar, which produced its first car in 1935, has shifted focus away from building the sports cars that once earned a legion of followers. Owned by India’s Tata Motors, the luxury brand has pegged its future on sport-utility vehicles and electrification.

Thomson, however, argued that sports cars can still be relevant in the age of SUVs and lift Jaguar Land Rover from its current financial struggles.

The company recently showed off the latest iteration of its F-TYPE, a two-seater sports car that underwent a face-lift for 2021. The newer model, available in three engine types (a 2.0-liter four-cylinder, 3.0-liter supercharged V6 and a supercharged V8), now boasts more power, upgraded in-car technology and an updated grille and front bumper, among other cosmetic tweaks.

Eighty-two percent of current F-TYPE owners are men and the average age of an owner is 53, according to Jaguar.

ABC News recently sat down with Thomson to discuss why a $62,000 sports car could help to reverse Jaguar’s misfortunes:

How would you describe the new F-TYPE in three words?

Pure, beautiful and balanced.

What would you like to see in the next F-TYPE?

I would say more Jaguar. We’re a brand that really connects with the heart and really has a human side to it. I would like to make sure we do more of that really. We have to be different … even more to stand out. We’re never really going to do things that are outrageous or weird. We do things that are balanced and very beautiful. Very, very natural.

What’s the biggest challenge these days in designing a sports car?

Just getting to design sports cars. Unfortunately, there aren’t many of them in the world. The world is against them. Despite of [environmental and safety concerns] they do represent the ultimate dream of a car. They do represent you riding off into the sunset, they do represent that freedom. If the car is a reflection of the person, it reflects the most beautiful version of you. For a company like Jaguar, which is all about beautiful cars, the sports car always represents that pinnacle. That’s what distinguishes us as a brand — that’s the ultimate realization of beauty, power and innovation for us.

How do you get people to buy more sports cars?

I think you have to connect with young people. A lot of customers who buy them are more experienced drivers. They appreciate the history of them. You have to recreate that in the modern context for younger people. They’ve got to start believing in that dream of driving again.

How do you get women excited about sports cars?

You’re not interested in [setting lap times]. You just want the most beautiful, nicest thing to drive. You have to talk more about the experience of using the car and how you interact with it. We need to make sure it’s not a threatening thing, not a totally macho thing. A lot of designers on our team are female. They love sports cars. They don’t want to be associated with something that is so masculine. We have to think differently about how these cars appear.

You said car designers ought to put their money where their mouth is and buy the cars they design. Have you bought all of the cars you’ve designed?

No, I haven’t. Otherwise I’d have 40 or 50 cars. But I have bought a couple of them. It’s weird how you connect with a car. I’ve bought cars I’ve designed and sometimes you feel like you’re driving around in a sweater you’ve knitted yourself. You feel very self-conscious. Ideally, you design a car that fits with your life stage moment. You sympathize with that car. I designed the Lotus Elise when I was single. I was very limber, I could climb into anything … that car was perfect for my time. When I did the Land Rover LRX I had a couple of kids, I was still trying to be cool, and now I am very fond of the XJ [sedan] but maybe because it’s my stage in life [he laughs].

How do you get people excited again about sedans?

You’ve got to design beautiful sedans. Unfortunately, the sedan market is a difficult place. People buy a sedan because they want a rational product a lot of the time. They’re deliberately designed to be rational. We have to design sedans that you fall in love with.

What type of cars should be the focus for Jaguar?

Just more sports cars maybe. The world needs more sports cars.

What will be your mark on the company? How will you differentiate yourself from Ian Callum?

There’s as much of Ian as me in all the cars we’ve done so far. He’s handed over the baton to me, the responsibility, so that consistency is very, very important. Our focus the last few years is to add a lot of new models to the range. We’ve expanded and grown like no other car manufacturer has … new segments like electric cars and SUVs. A lot of it has been based around growth. I’d like to get us back to probably a more glamorous, romantic vision of Jaguar.

So less SUVs?

I still think SUVs can be exciting. But I want to get the balance back the other way. A bit more into sedans, a bit more into sports cars.

*The interview has been edited and condensed for clarity.

Copyright © 2020, ABC Audio. All rights reserved.

Spring airfare lowest in four years: How to spot a deal

Posted on: February 21st, 2020 by ABC News No Comments

npstockphoto/iStock(NEW YORK) — What is considered a good deal when it comes to airfare during spring break?

Depending on whether you’re shopping for a domestic or international flight, the answer is $246 or $601.

How to spot a deal

According to Hopper, the flight prediction app, $246 and $601 are the average prices per ticket for spring break flights. And here’s the really good news: spring break airfare is the lowest it’s been in four years. So if you’ve been putting off that solo, family or couples vacation, now is the best time to pull the trigger.

What do these prices mean for you? Use them as a frame of reference. A highly traveled route like New York to Miami will yield lower prices because of stiff competition. Traveling to or from a remote destination or airport will probably cost more.

Where to go

Skyscanner, the online travel company, identified destinations that will give fliers the most bang for their buck during spring break for ABC News’ Good Morning America.

– Under-$150 round trip: Puerto Rico and the U.S. Virgin Islands

– Under-$200 round trip: Aruba, the Bahamas and the Dominican Republic.

– Under-$300: France, Spain, Ireland and Italy.

When to go

The cheapest days to fly this winter are upon us. According to FareCompare, traveling before March 1 will yield some of the year’s cheapest prices on domestic flights. For Europe, there’s more time — travel before March 25 for the best deals.

If you’re not tied to a school vacation calendar, Hooper’s data show it’s best to avoid mid-March to mid-April for spring travel.

And days of the week are not created equal. Hopper found traveling on Tuesdays and Wednesdays this spring can save as much as 18% per ticket.

When to book

Hopper said the sweet spot for booking a flight is three weeks out for domestic flights and four weeks out for international flights. After that, prices will go up an average of $11 and $16 per day, respectively.

Copyright © 2020, ABC Audio. All rights reserved.

Spring airfare lowest in four years: How to spot a deal

Posted on: February 21st, 2020 by ABC News No Comments

npstockphoto/iStock(NEW YORK) — What is considered a good deal when it comes to airfare during spring break?

Depending on whether you’re shopping for a domestic or international flight, the answer is $246 or $601.

How to spot a deal

According to Hopper, the flight prediction app, $246 and $601 are the average prices per ticket for spring break flights. And here’s the really good news: spring break airfare is the lowest it’s been in four years. So if you’ve been putting off that solo, family or couples vacation, now is the best time to pull the trigger.

What do these prices mean for you? Use them as a frame of reference. A highly traveled route like New York to Miami will yield lower prices because of stiff competition. Traveling to or from a remote destination or airport will probably cost more.

Where to go

Skyscanner, the online travel company, identified destinations that will give fliers the most bang for their buck during spring break for ABC News’ Good Morning America.

– Under-$150 round trip: Puerto Rico and the U.S. Virgin Islands

– Under-$200 round trip: Aruba, the Bahamas and the Dominican Republic.

– Under-$300: France, Spain, Ireland and Italy.

When to go

The cheapest days to fly this winter are upon us. According to FareCompare, traveling before March 1 will yield some of the year’s cheapest prices on domestic flights. For Europe, there’s more time — travel before March 25 for the best deals.

If you’re not tied to a school vacation calendar, Hooper’s data show it’s best to avoid mid-March to mid-April for spring travel.

And days of the week are not created equal. Hopper found traveling on Tuesdays and Wednesdays this spring can save as much as 18% per ticket.

When to book

Hopper said the sweet spot for booking a flight is three weeks out for domestic flights and four weeks out for international flights. After that, prices will go up an average of $11 and $16 per day, respectively.

Copyright © 2020, ABC Audio. All rights reserved.

HGTV’s Leanne Ford debuts new interior line at Crate and Barrel

Posted on: February 21st, 2020 by ABC News No Comments

Crate and Barrel(NEW YORK) — Leanne Ford has teamed up with Crate and Barrel to bring her design aesthetic into everyone’s home.

From a canopy bed frame to clay bowls, the entire collection is both sophisticated and gives off minimalist Kim Kardashian vibes.

You might recognize Ford from her work with HGTV and from magazines.

But you might be more familiar with her hit HGTV show featuring her brother, Restored by the Fords, where the pair renovates older homes into dream houses. In fact, the two also worked on A Very Brady Renovation, restoring the iconic Brady Bunch house.

Now, she’s making a name for herself with her collection, which she’s long dreamed of having.

“Working together to create this collection, a fresh, modern take on classic materials and shapes, has been a shared labor of love. I love knowing these pieces will be around for years to come,” Ford said in a statement.

The collaboration with Crate and Barrel includes more than 50 pieces, ranging from furniture and decor to bedding.

“Minimalism has always been around and I love that it’s being talked about more now. The key to making minimalism livable is to inject soul and warmth with textures, natural elements and imperfect, organic forms,” Ford told ABC News’ Good Morning America.

Ford’s collection uses a simple black, white and tan color palette.

“We have always been such fans of Leanne’s design work, as she’s helping redefine American interior style with her artful and design-forward vibe. Our shared passion for design, and shared admiration for each other’s work, allowed us to create a timeless, yet versatile collection,” Sebastian Brauer, vice president of product design and development at Crate and Barrel, said in a statement.

The Crate and Barrel x Leanne Ford Spring 2020 Collection is available now.

Copyright © 2020, ABC Audio. All rights reserved.

HGTV’s Leanne Ford debuts new interior line at Crate and Barrel

Posted on: February 21st, 2020 by ABC News No Comments

Crate and Barrel(NEW YORK) — Leanne Ford has teamed up with Crate and Barrel to bring her design aesthetic into everyone’s home.

From a canopy bed frame to clay bowls, the entire collection is both sophisticated and gives off minimalist Kim Kardashian vibes.

You might recognize Ford from her work with HGTV and from magazines.

But you might be more familiar with her hit HGTV show featuring her brother, Restored by the Fords, where the pair renovates older homes into dream houses. In fact, the two also worked on A Very Brady Renovation, restoring the iconic Brady Bunch house.

Now, she’s making a name for herself with her collection, which she’s long dreamed of having.

“Working together to create this collection, a fresh, modern take on classic materials and shapes, has been a shared labor of love. I love knowing these pieces will be around for years to come,” Ford said in a statement.

The collaboration with Crate and Barrel includes more than 50 pieces, ranging from furniture and decor to bedding.

“Minimalism has always been around and I love that it’s being talked about more now. The key to making minimalism livable is to inject soul and warmth with textures, natural elements and imperfect, organic forms,” Ford told ABC News’ Good Morning America.

Ford’s collection uses a simple black, white and tan color palette.

“We have always been such fans of Leanne’s design work, as she’s helping redefine American interior style with her artful and design-forward vibe. Our shared passion for design, and shared admiration for each other’s work, allowed us to create a timeless, yet versatile collection,” Sebastian Brauer, vice president of product design and development at Crate and Barrel, said in a statement.

The Crate and Barrel x Leanne Ford Spring 2020 Collection is available now.

Copyright © 2020, ABC Audio. All rights reserved.