The theme of International Yoga Day 2018: Yoga for peace
World Health Organization declares compulsive video gaming a mental disorder
California emergency room doctor suspended after mocking patient on video
World Health Organization Officially Lists Gaming Addiction as Disorder
Gaming disorder is now classified as a mental health condition
Buffett, Dimon urge end to quarterly profit forecasts
10 June 2018, 07:12 | Randall Craig
Berkshire Hathaway Chairman and CEO Warren Buffett speaks during an interview in Omaha last month
Warren Buffett and Jamie Dimon, two of the most powerful leaders in the financial industry, have once again urged public companies to stop providing quarterly profit forecasts.
The health-care venture between Berkshire Hathaway Inc., Amazon.com Inc. and JPMorgan Chase & Co. has picked the person who will lead the initiative.
Neither Buffett, chairman and CEO of Berkshire Hathaway Inc.in Omaha, or Dimon, chairman and CEO of JPMorgan Chase, predict their profits every three months. The group said public companies should be managed for long-term prosperity, not to meet the latest forecast.
In a CNBC "Squawk Box" program interview and an opinion piece published in the Wall Street Journal, Buffett and Dimon said quarterly forecasts, known on Wall Street as "guidance", take up management's time and lead to decisions that don't benefit companies or their shareholders.
Besides their positions as business executives, Dimon is chairman of the Business Roundtable, an organization of about 200 top executives.
Dimon said companies might forego investments they should make in their business, such as marketing, hiring or research, in order to hit short-term goals. JPMorgan Chase reported lower fourth-quarter earnings January 12, 2018 on weak trading revenues and one-time costs from U.S. tax reform, partly offset by gains from higher interest rates.Net income for the quarter ending December 31 was $4.2 billion, down 37 percent from the year-ago period.
Back in September, Dimon said bitcoin "wasn't going to work" and called it a "fraud" at an investor conference. An outsized emphasis on quarterly earnings per share projections undermines the importance of investments in infrastructure, workforce development and other crucial capital expenditures that drive sustained USA economic growth. Without company guidance, analysts' estimates are likely to vary more, making share prices more volatile at the same time that estimates become less valuable to investors and, horror, not worth paying for.
Those in favor of guidance say it improves communications with Wall Street, reduces share price volatility and boosts a stock's value.
Hilary Duff Pregnant With Baby No. 2
One source explained, "some of us think they just needed some time apart to figure out if it was possible to make it work". However, she hasn't always been so confident about showing it off.
Politicians from both sides blast feds' ZTE deal
This comes despite an across-the-board rebuke from USA intelligence agencies who see ZTE as a national security threat. "When it comes to China , despite his tough talk, this deal with ZTE proves the president just shoots blanks".
GOP: Obama admin tried to let Iran bypass sanctions
That source pointed out that the license "did not authorize Iran to conduct commercial transactions denominated in U.S. dollars". His comments and those of other top Obama administration officials drew the ire of the committee's Republican chairman.
New Zealand women hit ODI record 490 runs vs Ireland
England men's cricket team had scored 444/3 in 50 overs in an ODI match, also against Pakistan, at Nottingham on August 30, 2016. Indeed, four of the five bowlers Ireland used on Friday are now in the top five all-time most expensive women's ODI list.
Trump Signs Bill Expanding Private Care Options for Veterans
Cox has introduced over 120 pieces of legislation for the military, veterans, and their families during his time in the House. As the term for that act neared its end, the Veterans Affair Committee began work on taking the improvement process further.
Golden State Warriors Win Third NBA Championship In Four Years
James finished the Finals averaging 34 points on 52.7 percent shooting overall (33.3 percent from 3), 10 assists and 8.5 rebounds. Will LeBron leave the Cavaliers? Curry, who was awful in Game 3, answered with a classic Steph Curry performance in the clincher.