Forget the 5-day work week—just 4 days results in ‘a healthier, more loyal, more engaged staff’

He recently wrote a report that laid out his results and includes recommendations for how to implement a similar program. However, he said many companies are “scared” to take the chance because they’ve been so conditioned about a five-day work week. Barnes is not alone in recognizing the benefits of a shorter work week. Last year, the Berlin-based project management company Planio introduced a 4-day work week for its small staff. The ad agency Grey New York, owned by WPP, also launched a program


He recently wrote a report that laid out his results and includes recommendations for how to implement a similar program. However, he said many companies are “scared” to take the chance because they’ve been so conditioned about a five-day work week. Barnes is not alone in recognizing the benefits of a shorter work week. Last year, the Berlin-based project management company Planio introduced a 4-day work week for its small staff. The ad agency Grey New York, owned by WPP, also launched a program
Forget the 5-day work week—just 4 days results in ‘a healthier, more loyal, more engaged staff’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: michelle fox, andreypopov, getty images
Keywords: news, cnbc, companies, results, benefits, healthier, york, weekjust, work, day, forget, employees, days, 5day, staff, week, fulltime, wrote, engaged, loyal, hours


Forget the 5-day work week—just 4 days results in 'a healthier, more loyal, more engaged staff'

It’s a success because employees get the perk — and they concentrate more consistently on work during that time than their 9-5 counterparts do, suggests Barns.

Several studies back him up. According to a U.K. study done in 2017 by deals site Vouchercloud, the average employee spends two hours and 53 minutes each day working productively.

Separately, a 2018 survey by the Workforce Institute at Kronos found that more than half of full-time workers thought they could do their job in five hours a day if they didn’t have any interruptions. It polled 3,000 employees across eight nations.

Barnes is hoping other employers learn from his experience. He recently wrote a report that laid out his results and includes recommendations for how to implement a similar program.

However, he said many companies are “scared” to take the chance because they’ve been so conditioned about a five-day work week.

“What we’re saying is that if you engage with your staff, if you give them the opportunity to come up with ideas, if you say to them, ‘look, if you do things differently we will gift you this day off a week,’ what they do is they change how they behave at work,” he said.

“That improves the productivity and that delivers that much higher output, but at the same time gives you all the benefits of work-life balance, [and] a healthier, more loyal, more engaged staff,” he added.

Barnes is not alone in recognizing the benefits of a shorter work week. Last year, the Berlin-based project management company Planio introduced a 4-day work week for its small staff. The ad agency Grey New York, owned by WPP, also launched a program last year that allowed staff to work a four-day week for 85% of their full-time salary.

—Reuters contributed to this report.

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Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: michelle fox, andreypopov, getty images
Keywords: news, cnbc, companies, results, benefits, healthier, york, weekjust, work, day, forget, employees, days, 5day, staff, week, fulltime, wrote, engaged, loyal, hours


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Elon Musk celebrates flawed Tesla Autonomy Day with employee email

To reach a million robotaxis in 2020, Tesla would have to continue producing cars near the high-end of its previous guidance. Finally, owners would have to agree to let their cars participate in a Tesla robotaxi network. Musk said the company expected that a Tesla would be able to complete a hands-free trip across the US by late 2017. It was more geared to the autonomy world as Musk is telling technologists ‘don’t forget about Tesla,’ with Waymo and Uber getting a ton of credit.” Tesla stock tra


To reach a million robotaxis in 2020, Tesla would have to continue producing cars near the high-end of its previous guidance. Finally, owners would have to agree to let their cars participate in a Tesla robotaxi network. Musk said the company expected that a Tesla would be able to complete a hands-free trip across the US by late 2017. It was more geared to the autonomy world as Musk is telling technologists ‘don’t forget about Tesla,’ with Waymo and Uber getting a ton of credit.” Tesla stock tra
Elon Musk celebrates flawed Tesla Autonomy Day with employee email Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: lora kolodny, frederic j brown, afp, getty images, patrick t fallon, bloomberg
Keywords: news, cnbc, companies, drive, company, selfdriving, car, employee, musk, email, flawed, tesla, elon, day, celebrates, autonomy, cars, vehicles, robotaxi, driving


Elon Musk celebrates flawed Tesla Autonomy Day with employee email

In 2018, ride-hailing trade publication Ridester found that human drivers working 40 hours a week for the likes of Uber or Lyft make annual salaries of about $31,000 before vehicle expenses, and about $20,000 after expenses but before taxes in the US.

Those people are driving cars already deemed street legal, and picking up fares in major cities and at airports where local laws have been, for the most part, hashed out authorizing them to drive there.

Meanwhile, the company has produced only about 600,000 cars to date. Not all of them are still on the road.

Tesla said in its fourth-quarter earnings release that it was aiming to deliver 360,000 to 400,000 vehicles in 2019, about 45 percent to 65 percent more than its deliveries last year.

To reach a million robotaxis in 2020, Tesla would have to continue producing cars near the high-end of its previous guidance. Then, the majority of those cars would have to get the necessary software updates to reach Full Self-Driving status, which currently costs $5,000 when customers order the car or $7,000 as an upgrade if added after delivery, although these prices could change over time. Finally, owners would have to agree to let their cars participate in a Tesla robotaxi network.

Meanwhile, truly driverless vehicles do not yet exist. Tesla doesn’t sell one. Neither does any other company.

Deutsche Bank analyst Emmanual Rosner, who took a test drive of the vehicles Tesla showed on Tuesday, was skeptical, writing, “Throughout the ride, the car performed relatively well but experienced a few rough maneuvers and had one disengagement where it failed to recognize cones blocking off some parked vehicles on the side of the road.”

He continued, “Given our own test ride still faced issues despite being on a pre-planned course and under relatively simple road conditions, we believe the company’s targeted timeline for both full self-driving and its robotaxi service is at the very least aggressive. Ultimately, we still wonder whether Tesla can even solve the large challenges of fully autonomous driving with its vision-based approach alone.”

Musk has made grandiose promises about self-driving before.

In October 2016, Musk touted Tesla’s second-generation autonomous driving hardware, saying that system could power full level 5 autonomy in his company’s cars — that means the car could drive in all conditions with zero human attention. Musk said the company expected that a Tesla would be able to complete a hands-free trip across the US by late 2017. As of April 2019, Tesla has not demonstrated any of its vehicles completing such a trip, although self-driving pioneer Anthony Levandowski says a car from his new start-up accomplished the task last December.

Analysts were generally skeptical. Cowen analysts wrote, “The Tesla Network robotaxi plans seemed half baked, with the company appearing toeither not have answers to or not even considered pretty basic question on the pricing,insurance liability, or regulatory and legal requirements.”

Even some historical Tesla bulls were not swayed by the presentation.

Dan Ives, Managing Director of Wedbush Securities said, “The presentation was more visionary and lacked the details the Street wants to know which is key to credibility. It was more geared to the autonomy world as Musk is telling technologists ‘don’t forget about Tesla,’ with Waymo and Uber getting a ton of credit.”

Tesla stock traded down about 4% on Monday, and ticked up by less than a point in mid-day trading on Tuesday. The stock is down about 30% from its most recent peak in December, and down about 9% from a year ago.


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: lora kolodny, frederic j brown, afp, getty images, patrick t fallon, bloomberg
Keywords: news, cnbc, companies, drive, company, selfdriving, car, employee, musk, email, flawed, tesla, elon, day, celebrates, autonomy, cars, vehicles, robotaxi, driving


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Elon Musk celebrates flawed Tesla Autonomy Day with employee email

To reach a million robotaxis in 2020, Tesla would have to continue producing cars near the high-end of its previous guidance. Finally, owners would have to agree to let their cars participate in a Tesla robotaxi network. Musk said the company expected that a Tesla would be able to complete a hands-free trip across the US by late 2017. It was more geared to the autonomy world as Musk is telling technologists ‘don’t forget about Tesla,’ with Waymo and Uber getting a ton of credit.” Tesla stock tra


To reach a million robotaxis in 2020, Tesla would have to continue producing cars near the high-end of its previous guidance. Finally, owners would have to agree to let their cars participate in a Tesla robotaxi network. Musk said the company expected that a Tesla would be able to complete a hands-free trip across the US by late 2017. It was more geared to the autonomy world as Musk is telling technologists ‘don’t forget about Tesla,’ with Waymo and Uber getting a ton of credit.” Tesla stock tra
Elon Musk celebrates flawed Tesla Autonomy Day with employee email Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: lora kolodny, frederic j brown, afp, getty images, patrick t fallon, bloomberg
Keywords: news, cnbc, companies, drive, company, selfdriving, car, employee, musk, email, flawed, tesla, elon, day, celebrates, autonomy, cars, vehicles, robotaxi, driving


Elon Musk celebrates flawed Tesla Autonomy Day with employee email

In 2018, ride-hailing trade publication Ridester found that human drivers working 40 hours a week for the likes of Uber or Lyft make annual salaries of about $31,000 before vehicle expenses, and about $20,000 after expenses but before taxes in the US.

Those people are driving cars already deemed street legal, and picking up fares in major cities and at airports where local laws have been, for the most part, hashed out authorizing them to drive there.

Meanwhile, the company has produced only about 600,000 cars to date. Not all of them are still on the road.

Tesla said in its fourth-quarter earnings release that it was aiming to deliver 360,000 to 400,000 vehicles in 2019, about 45 percent to 65 percent more than its deliveries last year.

To reach a million robotaxis in 2020, Tesla would have to continue producing cars near the high-end of its previous guidance. Then, the majority of those cars would have to get the necessary software updates to reach Full Self-Driving status, which currently costs $5,000 when customers order the car or $7,000 as an upgrade if added after delivery, although these prices could change over time. Finally, owners would have to agree to let their cars participate in a Tesla robotaxi network.

Meanwhile, truly driverless vehicles do not yet exist. Tesla doesn’t sell one. Neither does any other company.

Deutsche Bank analyst Emmanual Rosner, who took a test drive of the vehicles Tesla showed on Tuesday, was skeptical, writing, “Throughout the ride, the car performed relatively well but experienced a few rough maneuvers and had one disengagement where it failed to recognize cones blocking off some parked vehicles on the side of the road.”

He continued, “Given our own test ride still faced issues despite being on a pre-planned course and under relatively simple road conditions, we believe the company’s targeted timeline for both full self-driving and its robotaxi service is at the very least aggressive. Ultimately, we still wonder whether Tesla can even solve the large challenges of fully autonomous driving with its vision-based approach alone.”

Musk has made grandiose promises about self-driving before.

In October 2016, Musk touted Tesla’s second-generation autonomous driving hardware, saying that system could power full level 5 autonomy in his company’s cars — that means the car could drive in all conditions with zero human attention. Musk said the company expected that a Tesla would be able to complete a hands-free trip across the US by late 2017. As of April 2019, Tesla has not demonstrated any of its vehicles completing such a trip, although self-driving pioneer Anthony Levandowski says a car from his new start-up accomplished the task last December.

Analysts were generally skeptical. Cowen analysts wrote, “The Tesla Network robotaxi plans seemed half baked, with the company appearing toeither not have answers to or not even considered pretty basic question on the pricing,insurance liability, or regulatory and legal requirements.”

Even some historical Tesla bulls were not swayed by the presentation.

Dan Ives, Managing Director of Wedbush Securities said, “The presentation was more visionary and lacked the details the Street wants to know which is key to credibility. It was more geared to the autonomy world as Musk is telling technologists ‘don’t forget about Tesla,’ with Waymo and Uber getting a ton of credit.”

Tesla stock traded down about 4% on Monday, and ticked up by less than a point in mid-day trading on Tuesday. The stock is down about 30% from its most recent peak in December, and down about 9% from a year ago.


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: lora kolodny, frederic j brown, afp, getty images, patrick t fallon, bloomberg
Keywords: news, cnbc, companies, drive, company, selfdriving, car, employee, musk, email, flawed, tesla, elon, day, celebrates, autonomy, cars, vehicles, robotaxi, driving


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Zoom rocketed 72% on first day of trading

Videoconferencing software company Zoom made its debut Thursday on the Nasdaq under the ticker symbol “ZM,” surging 80% to $65 and closing out the day up 72% at $62. At that price Zoom had a stock market value of $15.9 billion. Zoom is among a growing crop of tech companies going public in 2019, but with a twist: it’s profitable. After filing to go public on March 22, Zoom estimated two weeks later that it would price shares in the range of $28 to $32. Zoom CEO Eric Yuan said of IPO roadshow con


Videoconferencing software company Zoom made its debut Thursday on the Nasdaq under the ticker symbol “ZM,” surging 80% to $65 and closing out the day up 72% at $62. At that price Zoom had a stock market value of $15.9 billion. Zoom is among a growing crop of tech companies going public in 2019, but with a twist: it’s profitable. After filing to go public on March 22, Zoom estimated two weeks later that it would price shares in the range of $28 to $32. Zoom CEO Eric Yuan said of IPO roadshow con
Zoom rocketed 72% on first day of trading Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-18  Authors: jordan novet, source
Keywords: news, cnbc, companies, rocketed, public, day, zoom, weeks, week, range, yuan, price, 32, trading, 72, zm, company


Zoom rocketed 72% on first day of trading

Videoconferencing software company Zoom made its debut Thursday on the Nasdaq under the ticker symbol “ZM,” surging 80% to $65 and closing out the day up 72% at $62.

At that price Zoom had a stock market value of $15.9 billion. Zoom is among a growing crop of tech companies going public in 2019, but with a twist: it’s profitable.

After filing to go public on March 22, Zoom estimated two weeks later that it would price shares in the range of $28 to $32. Zoom increased the range to between $32 and $35 this week, and on Wednesday it priced above the top of that range, valuing the company at $9.2 billion.

“This was a common question … ‘Why do you focus on profitability?'” Zoom CEO Eric Yuan said of IPO roadshow conversations in an interview with CNBC on Thursday.


Company: cnbc, Activity: cnbc, Date: 2019-04-18  Authors: jordan novet, source
Keywords: news, cnbc, companies, rocketed, public, day, zoom, weeks, week, range, yuan, price, 32, trading, 72, zm, company


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Zoom rocketed 72% on first day of trading

Videoconferencing software company Zoom made its debut Thursday on the Nasdaq under the ticker symbol “ZM,” surging 80% to $65 and closing out the day up 72% at $62. At that price Zoom had a stock market value of $15.9 billion. Zoom is among a growing crop of tech companies going public in 2019, but with a twist: it’s profitable. After filing to go public on March 22, Zoom estimated two weeks later that it would price shares in the range of $28 to $32. Zoom CEO Eric Yuan said of IPO roadshow con


Videoconferencing software company Zoom made its debut Thursday on the Nasdaq under the ticker symbol “ZM,” surging 80% to $65 and closing out the day up 72% at $62. At that price Zoom had a stock market value of $15.9 billion. Zoom is among a growing crop of tech companies going public in 2019, but with a twist: it’s profitable. After filing to go public on March 22, Zoom estimated two weeks later that it would price shares in the range of $28 to $32. Zoom CEO Eric Yuan said of IPO roadshow con
Zoom rocketed 72% on first day of trading Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-18  Authors: jordan novet, source
Keywords: news, cnbc, companies, rocketed, public, day, zoom, weeks, week, range, yuan, price, 32, trading, 72, zm, company


Zoom rocketed 72% on first day of trading

Videoconferencing software company Zoom made its debut Thursday on the Nasdaq under the ticker symbol “ZM,” surging 80% to $65 and closing out the day up 72% at $62.

At that price Zoom had a stock market value of $15.9 billion. Zoom is among a growing crop of tech companies going public in 2019, but with a twist: it’s profitable.

After filing to go public on March 22, Zoom estimated two weeks later that it would price shares in the range of $28 to $32. Zoom increased the range to between $32 and $35 this week, and on Wednesday it priced above the top of that range, valuing the company at $9.2 billion.

“This was a common question … ‘Why do you focus on profitability?'” Zoom CEO Eric Yuan said of IPO roadshow conversations in an interview with CNBC on Thursday.


Company: cnbc, Activity: cnbc, Date: 2019-04-18  Authors: jordan novet, source
Keywords: news, cnbc, companies, rocketed, public, day, zoom, weeks, week, range, yuan, price, 32, trading, 72, zm, company


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I spent a day delivering weed in Los Angeles—here’s what it was like and how much money you can make

Now that recreational weed is legal in California, anyone over age 21 can buy marijuana in limited amounts. You can even have it brought to your front door, thanks to delivery platforms like Eaze and SpeedWeed. To get an idea of what it’s really like to deliver weed as a side hustle or a full-time job, I spent a day with SpeedWeed employee Ken Breese. SpeedWeed, which has been around since 2011, used to operate as a medical marijuana delivery company. It’s no longer a delivery service, Breese ex


Now that recreational weed is legal in California, anyone over age 21 can buy marijuana in limited amounts. You can even have it brought to your front door, thanks to delivery platforms like Eaze and SpeedWeed. To get an idea of what it’s really like to deliver weed as a side hustle or a full-time job, I spent a day with SpeedWeed employee Ken Breese. SpeedWeed, which has been around since 2011, used to operate as a medical marijuana delivery company. It’s no longer a delivery service, Breese ex
I spent a day delivering weed in Los Angeles—here’s what it was like and how much money you can make Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-18  Authors: kathleen elkins, source, cnbc make it, -ken breese, director of operations at speedweed
Keywords: news, cnbc, companies, weed, los, marijuana, used, delivery, shops, company, way, worked, spent, angelesheres, delivering, breese, money, day


I spent a day delivering weed in Los Angeles—here's what it was like and how much money you can make

Now that recreational weed is legal in California, anyone over age 21 can buy marijuana in limited amounts. You can even have it brought to your front door, thanks to delivery platforms like Eaze and SpeedWeed.

To get an idea of what it’s really like to deliver weed as a side hustle or a full-time job, I spent a day with SpeedWeed employee Ken Breese. He started with the company four years ago as a driver and has since worked his way up to director of operations, but he still picks up a driving shift here and there.

SpeedWeed, which has been around since 2011, used to operate as a medical marijuana delivery company. It’s no longer a delivery service, Breese explains — rather, it’s a delivery platform that partners with pot shops and helps them run compliant, on-demand delivery. The drivers are technically employed by the shops, he notes, and not SpeedWeed.

I meet Breese in Studio City, Los Angeles, and hop in his Mazda 3 Hatchback. Here’s how the day unfolds.


Company: cnbc, Activity: cnbc, Date: 2019-04-18  Authors: kathleen elkins, source, cnbc make it, -ken breese, director of operations at speedweed
Keywords: news, cnbc, companies, weed, los, marijuana, used, delivery, shops, company, way, worked, spent, angelesheres, delivering, breese, money, day


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Apple accused in US lawsuit of securities fraud over iPhone sales in China

Apple was accused in a new lawsuit of securities fraud for concealing a slump in demand for iPhones, particularly in China, leading to a $74 billion one-day slide in its market value once the truth became known. It was the first time since the iPhone’s 2007 launch that Apple had cut its revenue forecast. The lawsuit was filed in the federal court in Oakland, California by the City of Roseville Employees’ Retirement System, a Michigan pension plan. The lawsuit was filed on the same day Apple sett


Apple was accused in a new lawsuit of securities fraud for concealing a slump in demand for iPhones, particularly in China, leading to a $74 billion one-day slide in its market value once the truth became known. It was the first time since the iPhone’s 2007 launch that Apple had cut its revenue forecast. The lawsuit was filed in the federal court in Oakland, California by the City of Roseville Employees’ Retirement System, a Michigan pension plan. The lawsuit was filed on the same day Apple sett
Apple accused in US lawsuit of securities fraud over iPhone sales in China Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-17  Authors: justin sullivan, getty images news, getty images
Keywords: news, cnbc, companies, trade, apples, apple, sales, china, value, filed, securities, accused, system, iphone, fraud, iphones, complaint, lawsuit, day


Apple accused in US lawsuit of securities fraud over iPhone sales in China

Apple was accused in a new lawsuit of securities fraud for concealing a slump in demand for iPhones, particularly in China, leading to a $74 billion one-day slide in its market value once the truth became known.

The complaint filed on Tuesday seeks damages for investors who bought Apple stock in the two months before Chief Executive Tim Cook on Jan. 2 unexpectedly reduced Apple’s quarterly revenue forecast as much as $9 billion, in part because of the intensifying U.S. trade war with China.

It was the first time since the iPhone’s 2007 launch that Apple had cut its revenue forecast.

Apple’s share price fell 10 percent the next day, leaving the Cupertino, California-based company’s market value roughly 40 percent below its $1.1 trillion peak three months earlier.

Cook and Chief Financial Officer Luca Maestri were also named as defendants in the proposed class action. Apple did not immediately respond on Wednesday to requests for comment.

The lawsuit was filed in the federal court in Oakland, California by the City of Roseville Employees’ Retirement System, a Michigan pension plan.

It is represented by Robbins Geller Rudman & Dowd, a securities class-action specialist.

The complaint said iPhone demand was falling because of U.S.-China trade tensions and customers’ growing preference to replace batteries in older iPhones, prompting Apple to slash orders from suppliers for new iPhones and cut prices to reduce inventory.

But none of this was disclosed when it should have been, the complaint said, in part because of Apple’s Nov. 1, 2018 decision to stop disclosing unit sales for iPhones.

Asked during a conference call that day about Apple’s performance in emerging markets, Cook cited downward pressures on sales in Brazil and India, but said “I would not put China in that category,” the complaint said.

The lawsuit was filed on the same day Apple settled all its litigation with Qualcomm Inc. Their disputes centered mainly on Qualcomm patents for mobile chips, and how much Apple should pay to use the technology.

The case is City of Roseville Employees’ Retirement System v Apple Inc et al, U.S. District Court, Northern District of California, No. 19-02033.


Company: cnbc, Activity: cnbc, Date: 2019-04-17  Authors: justin sullivan, getty images news, getty images
Keywords: news, cnbc, companies, trade, apples, apple, sales, china, value, filed, securities, accused, system, iphone, fraud, iphones, complaint, lawsuit, day


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Tax Day is here. How to make sure you’re all set for the IRS

If you haven’t pulled your tax return together and sent it into the IRS by now, you’re just about out of time. Monday, April 15, is Tax Day for most Americans. Due to Patriots’ Day holidays on Monday in Maine or Massachusetts, taxpayers in those states have until midnight Wednesday to file. Procrastinators can request a six-month extension to submit their returns, but you only have until midnight Monday to submit taxes owed. The IRS is expecting to receive about 153 million individual tax return


If you haven’t pulled your tax return together and sent it into the IRS by now, you’re just about out of time. Monday, April 15, is Tax Day for most Americans. Due to Patriots’ Day holidays on Monday in Maine or Massachusetts, taxpayers in those states have until midnight Wednesday to file. Procrastinators can request a six-month extension to submit their returns, but you only have until midnight Monday to submit taxes owed. The IRS is expecting to receive about 153 million individual tax return
Tax Day is here. How to make sure you’re all set for the IRS Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: darla mercado, adam jeffery, david-prado, istock, getty images, nbc, mapodile
Keywords: news, cnbc, companies, youre, sure, taxpayers, set, timemonday, midnight, irs, submit, tax, yearthis, returns, day


Tax Day is here. How to make sure you're all set for the IRS

If you haven’t pulled your tax return together and sent it into the IRS by now, you’re just about out of time.

Monday, April 15, is Tax Day for most Americans.

Due to Patriots’ Day holidays on Monday in Maine or Massachusetts, taxpayers in those states have until midnight Wednesday to file.

Procrastinators can request a six-month extension to submit their returns, but you only have until midnight Monday to submit taxes owed.

The IRS is expecting to receive about 153 million individual tax returns from 2018 over the course of this year.

This season is the first time taxpayers will file under the Tax Cuts and Jobs Act. This overhaul of the tax code roughly doubled the standard deduction to $12,000 for singles ($24,000 for married-filing-jointly), eliminated personal exemptions and limited itemized deductions.


Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: darla mercado, adam jeffery, david-prado, istock, getty images, nbc, mapodile
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Stocks usually win in the week after tax day

By the second week after April 15, the S&P has been up 1.5% and was higher 75% of the time. The positive pattern did not work out after tax day in 2018, when the S&P lost 2.9 percent in the week after April 15, its worst one week post-tax day return since 1990. In the past 20 years, the worst performance was in 2002 when the S&P was down 3.4 percent after the second week. The best performance was in 2001, when the S&P was up 3.8% after one week and nearly 6% after two weeks. Right after April co


By the second week after April 15, the S&P has been up 1.5% and was higher 75% of the time. The positive pattern did not work out after tax day in 2018, when the S&P lost 2.9 percent in the week after April 15, its worst one week post-tax day return since 1990. In the past 20 years, the worst performance was in 2002 when the S&P was down 3.4 percent after the second week. The best performance was in 2001, when the S&P was up 3.8% after one week and nearly 6% after two weeks. Right after April co
Stocks usually win in the week after tax day Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: patti domm, bryan r smith, afp, getty images
Keywords: news, cnbc, companies, tend, week, usually, market, win, tax, month, worst, stocks, 15, period, sp, day


Stocks usually win in the week after tax day

Stocks were slightly lower Monday, but they could bounce back for a fairly decent gain over the next two weeks if the market follows a common post tax-day move.

The S&P 500 over the past 20 years has averaged a near 1 percent gain in the week following the federal tax filing deadline and has been higher 75% of the time, according to Bespoke Investment Group. By the second week after April 15, the S&P has been up 1.5% and was higher 75% of the time.

The positive pattern did not work out after tax day in 2018, when the S&P lost 2.9 percent in the week after April 15, its worst one week post-tax day return since 1990. In the past 20 years, the worst performance was in 2002 when the S&P was down 3.4 percent after the second week.

The best performance was in 2001, when the S&P was up 3.8% after one week and nearly 6% after two weeks.

“April seasonally is a strong month. You get increased spending from the refunds coming through, but it’s more of just a seasonal phenomena,” said Paul Hickey, co-founder of Bespoke. “April’s a real strong month. It’s the end of the six month stretch, where returns tend to be positive.”

Right after April comes the ‘”sell in May and go away” period for stocks. That’s May through October when the market does not do as well as the previous six months. For instance, the Dow was down 0.6 percent on average in the period May 1 through Oct. 31, going back to 1950, according to the Stock Trader’s Almanac. In the Nov. 1 to April 30 period over the same years, the Dow gained an average 7.5%.

“April is a little tricky. It’s when earnings generally start to come out,” Hickey said. “The Q1 reporting period has historically yielded positive returns for stocks.” He also said there were a good number of downward revisions to first quarter earnings.

“Negative revisions have historically been good for stock market gains,” he said, noting companies tend to have a lowered bar to beat.


Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: patti domm, bryan r smith, afp, getty images
Keywords: news, cnbc, companies, tend, week, usually, market, win, tax, month, worst, stocks, 15, period, sp, day


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The ‘Amazon of Africa’ soars more than 75% on its first day of trading

The largest e-commerce operator in Africa, Jumia Technologies, ended the day with its stock up more than 75.6% on its first day of trading at the New York Stock Exchange on Friday. The stock ended the day trading at $25.46 per share, above the opening price of $14.50. “The Amazon of Africa” has 4 million active customers as of the fourth quarter of 2018, the company said in its S-1 filing. Jumia’s platform lets customers buy a smartphone, a pair of shoes or a load of groceries. “When we ask the


The largest e-commerce operator in Africa, Jumia Technologies, ended the day with its stock up more than 75.6% on its first day of trading at the New York Stock Exchange on Friday. The stock ended the day trading at $25.46 per share, above the opening price of $14.50. “The Amazon of Africa” has 4 million active customers as of the fourth quarter of 2018, the company said in its S-1 filing. Jumia’s platform lets customers buy a smartphone, a pair of shoes or a load of groceries. “When we ask the
The ‘Amazon of Africa’ soars more than 75% on its first day of trading Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-12  Authors: maggie fitzgerald, richard drew
Keywords: news, cnbc, companies, soars, stock, lets, amazon, online, poignonnec, used, day, customers, jumia, 75, africa, trading


The 'Amazon of Africa' soars more than 75% on its first day of trading

The largest e-commerce operator in Africa, Jumia Technologies, ended the day with its stock up more than 75.6% on its first day of trading at the New York Stock Exchange on Friday.

The stock ended the day trading at $25.46 per share, above the opening price of $14.50. It has a market cap of about $3.9 billion.

“The Amazon of Africa” has 4 million active customers as of the fourth quarter of 2018, the company said in its S-1 filing. Jumia operates in 14 African countries, including Ghana, Kenya, Ivory Coast, Morocco and Egypt.

Jumia, founded in 2012, is the first African unicorn to go public.

As of December 2018, the company has accumulated losses of nearly $1 billion. Similar to Amazon, its initial shareholders will have to be patient on the path to profitability.

Jumia’s platform lets customers buy a smartphone, a pair of shoes or a load of groceries. Its logistics segment lets you book travel and hotels, and the fast-pay segment lets you pay your bills or order a pizza.

The difficulty for e-commerce in Africa is for the sellers because of the inefficient infrastructure of the continent, Jumia CEO Sacha Poignonnec told CNBC’s “Squawk Alley” on Friday.

“Its provides a lot of inclusion for consumers who have not necessarily the right access to retail,” Poignonnec said.

Poignonnec also said there’s a big opportunity in Africa because so many people haven’t yet experienced online shopping.

“When we ask the people who have never used online shopping yet, the No. 1 reason that comes out is, ‘I don’t know how to shop online,'” said Poignonnec. “That tells you it’s not about infrastructure, it’s about consumers getting used to it.”

Jumia, headquartered in Germany, works with local entrepreneurs and logistics companies to deliver the products. Half the packages are going into the major cities, and half into the secondary cities and rural areas.

Some of Jumia’s biggest customers are Apple, HP and Huawei.


Company: cnbc, Activity: cnbc, Date: 2019-04-12  Authors: maggie fitzgerald, richard drew
Keywords: news, cnbc, companies, soars, stock, lets, amazon, online, poignonnec, used, day, customers, jumia, 75, africa, trading


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