Must-Read Money Stories for Thursday, Feb. 16

by February 16, 2017
Stock markets worldwide having been riding high since President Trump won the election last November. (Photo taken from Pixabay.com)

Stock markets worldwide having been riding high since President Trump won the election last November. (Photo taken from Pixabay.com)

Verizon-Yahoo deal gets a haircut

Bloomberg has reported that Verizon Communications Inc. is close to a renegotiated deal for Yahoo! Inc.’s internet properties that would reduce the price of the $4.8 billion agreement by about $250 million. The haircut in the price comes after the revelation of security breaches at the web company, according to sources. In addition to the discounted price, Verizon and the entity of Yahoo that remains after the deal are expected to share any ongoing legal responsibilities related to the breaches.

Refunds for the uninsured

The Trump administration is taking its first steps to leaving its mark on Obamacare. The new president’s team is reversing plans to withhold tax refunds from people who decided not to purchase health insurance, as mandated in the Affordable Care Act. Instead, the new administration is proposing a series of rule changes designed to encourage insurers to remain in Obamacare marketplaces, according to the Washington Post.

Trump bump

Nasdaq.com reported that Wall Street stocks closed at a new all-time high for the fifth consecutive day on Wednesday after President Trump’s talk on taxes continued to excite investors who are anticipating his pro-growth economic policies. Health care and big consumer stocks led the day on the S&P 500, while Procter & Gamble and Pfizer led the charge on the Dow. The president has publicly said that we will unveil a “massive tax plan” in the “not too distant future” that would lower taxes for both individuals and businesses.

Jaguar’s new gas app

According to Fortune, Jaguar drivers of certain models no longer have to pull out their wallets when they need to fill up their tanks. Instead, they can go to a new cashless payment app on their car’s touchscreen. The in-car payment app, developed with Shell, is the first of its kind in the industry, and requires users to pay using either PayPal or Apple Pay. The app became available for download Wednesday in the U.K. and will roll out in the U.S. and other markets throughout the year.

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