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Spotify surpassed 100 million paid subscribers

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Spotify surpassed 100 million paid subscribers

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The Spotify premium is a paid music service subscription,

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spotify now has more than 100 million paid subscribers - cnn

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Spotify now has more than 100 million paid subscribers

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Spotify has surpassed 100 million paid subscribers.

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Receiving money from parents is essential, but when are you too old?

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Receiving money from parents is essential, but when are you too old?

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It's generally accepted that people should pay their own bills and subscriptions by age 20 because they should either have a job or attending school.

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Parents are responsible for taking care of their children, and that means emotionally, physically - and financially. But how old is too old to be receiving money from mom and dad?

A new Bankrate survey on financial independence looked into the average age Americans think individuals should start paying for their own bills, including car payments, cell phone bills and student loans.

The journey to independence has changed in recent years as "helicopter parenting" and prolonged education continue to create more co-dependent financial relationships between parents and children. But the data from this new survey reveals an alarming trend: 50 percent of Americans say they have sacrificed or are sacrificing their own retirement savings in order to help their adult children financially.

The higher the bill, the longer parents are willing to foot it

Bankrate asked Americans at what age they thought a person should start paying for their bills. Most of the results dovetailed the traditional mindset that 18 is the golden age of adulthood - except when it came to big-ticket items.

Car payments and insurance, cell phone bills, subscription services, travel costs and credit card bills all had the majority of total respondents saying that individuals between 18 to 19 years old should be paying for these bills themselves.

For example, the average age respondents expect individuals to start paying for their cell phone bill was 19 years old. Younger generations, or Gen Z and millennials, both said that age should be 20; Gen X and the silent generation said 19, while Boomers said 18.

All generations agreed the average age someone should start paying for their subscription services is 20 years old.

As the bill gets more expensive, however, the average age expectation starts to increase and vary by generation.

Millennials, Gen X and the silent generation agreed that car payments should be paid at an average age of 20, whereas Gen Z said 21 and Boomers said 19.

Overall, respondents said individuals aged 23 should begin paying down their own student loans. One might assume wealthier households are more willing to help pay off massive student loan debt, but that wasn't the case. Respondents with household incomes under $30,000 said the average age for individuals to start paying their own student loans was 24; households with incomes from $50,000 to over $80,000 said that age should be around 23.

Housing costs also had a higher average age overall, at 21 years old. Gen Z and millennials agreed the average age to start paying rent or a mortgage was 22, whereas Boomers, Gen X and the Silent Generation all said 21.

The highest age of them all? It's for paying health insurance. Overall, respondents reported 23 as the average age individuals should start paying for their own premiums. Millennials, Gen X and Boomers all said that number should be 23; Gen Z pushed to 24. The Silent Generation said 22.

Putting retirement at risk to help their kids

The most alarming finding of the survey isn't that parents are helping their adult children - it's that the majority of them say that helping is hurting their financial futures.

In total, 50 percent of respondents say they have sacrificed or are sacrificing their own retirement savings in order to help their adult children financially. Half of Gen X and Boomer respondents said the same.

The retirement crisis in America is an ongoing worry for Americans. As companies have shifted away from offering traditional pension plans to employees, much of the responsibility in planning for financial life after work now relies heavily on individuals. Unfortunately, some are struggling to keep up.

A March 2019 Bankrate survey found that more than 1 in 5 working Americans aren't saving any money for retirement, emergencies or other financial goals. Major barriers as to why respondents said they weren't saving included not making enough money and large debt payments.

As some Americans reach retirement age and realize they may not have saved enough, they find themselves being forced to work longer than planned. In 2017, the labor force of Americans ages 55 and up accounted for about 23 percent of the average annual labor force. The Bureau of Labor Statistics that by 2024, that figure will increase to almost 25 percent.

For a country where many people are already struggling to navigate their financial futures, the data isn't encouraging.

Why is this happening?

Some may argue that financially helping adult children may be turning them "soft." So why are people doing it?

Mark Hamrick, Bankrate's senior economic analyst, says there are a variety of reasons parents might feel compelled to help their adult children financially - and they don't all have to do with spoiling or enabling them.

"This is, for better and worse, the new normal because of the evolving approaches parents have taken to raising their children," Hamrick says. "And it's a result of some of the ongoing financial challenges that many families face, some of which were caused by the financial crisis and the Great Recession."

Some of those challenges include a lack of substantial wage growth, according to Hamrick. Although recent employment reports show gains, he describes that as a "relatively modern phenomenon."

"It's doing very little to recapture the lost gains in the earlier economic expansion that's approaching the 10 year anniversary," Hamrick says.

Other culprits include the rising cost of education and the rising popularity of higher degrees.

"This is the ironic, unintended expense of people staying in school longer," Hamrick says. "The way young people come of age has changed somewhat over the past 50 years or even longer - there's no longer a sense of immediate need for young people to enter the workforce, even on a part-time basis."

And when you're not working, you can't pay the bills - that's where Mom and Dad come in.

How parents can set healthy financial boundaries with their children

Although parents might want to help their adult children out by footing their bills, some experts say it might do more harm than good.

Dr. Laura Dabney, a psychiatrist specializing in interpersonal relationships, says parents who are sacrificing their financial futures for their adult children should reevaluate their assistance.

The conversation about cutting off financial assistance to children, Dabney admits, can be intimidating. Parents who have been providing financial safety nets for their child might worry about how discontinuing the aid might be received. Adult children who have been dependent upon the money might feel as though they are being treated unfairly.

But the longer the conversation is delayed, Dabney says, the more likely it becomes for resentment to start building from both parties, especially from the parents if the financial assistance is jeopardizing their retirement plans.

"You have to decide what works best for you and then present that," Dabney says. "Start with being honest about that. And then, listen to the child - and maybe come up with a compromise. Take the two wants and needs from both sides and come up with a plan that works for everybody so there's no resentment that eventually gets in the way."

Dabney adds that overall, prolonging financial support for adult children isn't helpful - no matter how much a parent might think it is.

"That thrill you get of stepping into adulthood - whenever you do that for your child, you're robbing them of that great joy of figuring out and doing something on their own," Dabney says. "It can be hurtful for those children for you to be 'helping' that much."

Methodology
Bankrate commissioned YouGov Plc to conduct the survey. All figures, unless otherwise stated, are from YouGov Plc. Total sample size was 2,553 adults, including 890 adults with at least one child 18 or older. Fieldwork was undertaken on April 3 - 5, 2019. The survey was carried out online. The figures have been weighted and are representative of all U.S. adults (aged 18+).
More from Bankrate:

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How old is too old to be receiving money from mom and dad?

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Parents are responsible for taking care of their children, and that means emotionally, physically - and financially. But how old is too old to be receiving money from mom and dad? A new Bankrate survey on financial independence looked into the average age Americans think individuals should start paying for their own bills, including car payments, cell phone bills and student loans.

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A drone was developed to keep feral pigs away from farm land after farmers are harassed by wild pigs.

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DURANT, Oka. - Two years ago, Joel Tumblson was surveying the family's 25-acre cantaloupe field and didn't notice any usual activity. Three days later, after turning attention to another melon field that needed harvesting, he came back to find the entire crop was destroyed by feral pigs, a loss of about $75,000.

"It was like a herd of elephants went through there," he told FOX Business. "It's unbelievable what they can do."

Trumblson is not the only farmer to suffer at the trotter of a pig. Some in the region have lost entire 30-acre watermelon fields in as little as two nights to a herd of wild hogs, known as a sounder. Experts say the total economic damage the boar's cause is as much as $2.5 billion annually.

Federal and state governments have been largely unable to help, farmers say, and the options for eradication aren't sustainable, like using helicopters to shoot the hogs from the sky.

Enter drones.

Oklahoma's Choctaw Nation and its nearly 11 counties are one of 10 sites chosen by the Federal Aviation Administration to test unmanned aircraft. It's the only American Indian tribe to obtain the Integration Pilot Program (IPP) designation, largely due to a 44,000-acre, 27-mile long field in the region that provides ample testing ground for a variety of uses for drones.

"It's one of the largest, first serious attempts to look at the realism of using drones for agriculture," said Brian Post, senior director strategic research and development for Choctaw Nation's Division of Commerce. "We represent the areas that may have inconsistent infrastructure buildup. We may have broadband in some areas, some areas don't have broadband yet. So how do we integrate and bring all this technology out when we have gaps in infrastructure."

One application currently being tested is whether drones can be used to drop feed to rebait automated traps to catch feral pigs. Another is using unmanned aircraft to help count cattle. While those uses may seem arcane to those living in major metropolitan areas, it could be a lifesaver for the agriculture industry - a sector that is often at the forefront of early adoption of new technology.

"Look at how a piece of technology like GPS transformed the agriculture industry," said Dillon Payne of the Noble Research Institute. "This has the potential to be something similar to that once we give the just-use cases and the policies allow us to do things with a little more freedom."

It also shows just how revolutionary drones can be.

Cities across the U.S. are using unmanned aircraft for a number of uses, from the transportation of medical supplies in Reno, Nevada and counting of cattle in Durant, Oklahoma, to overseeing pipeline safety in North Dakota. The Department of Interior used unmanned aircraft to assist in the Kilauea volcano explosion in Hawaii last year, while Google's Wing is hoping to begin delivering packages to customers' doors with drones.

The Trump administration is still weighing several critical new regulations to govern drones that will play a key role in determining how quickly the technology is adopted by the broader public. Among them is a draft rule expected later this year on remote identification, as well as one released earlier this year that would open the door for more nighttime flights and testing over humans.
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For the Choctaw Nation, the IPP designation has helped to draw new interest to the region from companies like General Electric.

"We want to be a leader now in the new technology that we think is going to hit with electric vehicles, with drones. We see the future, we want to get ahead of it," Oklahoma Gov. Kevin Stitt, a Republican, said at a recent conference hosted by the Choctaw Nation.

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Have a feral pig problem? There's a drone for that.

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DURANT, Oka. - Two years ago, Joel Tumblson was surveying the family's 25-acre cantaloupe field and didn't notice any usual activity. Three days later, after turning attention to another melon field that needed harvesting, he came back to find the entire crop was destroyed by feral pigs, a loss of about $75,000.

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Starbucks challenged by Chinese coffee chain

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Starbucks challenged by Chinese coffee chain

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A Chinese coffee chain is chasing down Starbucks and its customers.

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(Photo by Simon Song/South China Morning Post via Getty Images).
South China Morning Post via Getty Images

A scrappy startup that aims to overtake Starbucks in the world's second-largest economy has grown so much that an early investor is now a billionaire. Luckin Coffee, a fast-growing Chinese company with 2,370 stores in the country, has filed to go public on New York's Nasdaq stock exchange. Charles Zhengyao Lu, who was one of its earliest backers and is now its chairman, has become billionaire thanks to his prescient investment in the Xiamen-based firm.

Luckin Coffee is burning through cash in its quest to become the top coffee chain in China, racking up a net loss of $241 million on $125 million in revenues in 2018, according to a filing with the U.S. Securities and Exchange Commission. The filing also revealed that Lu and his wife, Lichun Guo, own a 30.5% stake in the company, making them its largest shareholders. Forbes estimates that Lu's stake is worth nearly $800 million.

Lu first made it big after founding car rental company Car Inc. in 2007. A former executive in the telecom industry, Lu guided Car Inc., which offers short-term and long-term rental cars to customers in over 300 Chinese cities, to an IPO in 2014, raising over $400 million on the Hong Kong Stock Exchange. Car Inc. soon launched a ride-hailing startup, UCar, in 2015.

UCar differentiated itself from its competitors by buying its own fleet and offering professional drivers. Lu, who stepped down as Car Inc.'s chief executive in 2016, now runs UCar as CEO and chairman, and has diversified the business to include car dealerships and car financing services. The startup is now listed on China's over-the-counter stock exchange and has a valuation of over $6.5 billion. His stake in Car Inc. is worth nearly $500 million, making his total net worth an estimated $1.3 billion.

But it's Lu's investment in Luckin Coffeethat is now his most valuable holding. Jenny Zhiya Qian, a former chief operating officer at both Car Inc. and UCar, launched the low-priced coffee chain in October 2017 after raising over $150 million from Lu and others. Luckin Coffee proceeded to open stores at breakneck speed, expanding from its first location in Beijing to its current total of 2,370 stores in just 18 months.

By January 2019, Luckin Coffee had served up some 90 million cups of coffee and announced plans to reach 4,500 stores by the end of the year, surpassing Starbucks as the largest coffee chain in China. The American icon, which opened its first store in Beijing in 1999, has 3,600 locations in the country; it plans to open 600 new stores annually through 2022 and has been expanding its delivery services.

Unlike Starbucks' expansive cafes, which encourage lounging, over 90% of Luckin Coffee's shops are pick-up stores located in high traffic areas like office buildings and college campuses. The cashless stores (customers pay using Luckin's app) typically have limited seating and simple interiors, allowing Luckin Coffee to use the cost savings to undercut Starbucks on pricing. Its in-app orders also boast a delivery time of 18 minutes or less in major cities, and the company has partnered with China's largest food delivery firm, Meituan Dianping, to offer its products on its app.

Luckin Coffee, which has raised $550 million its initial angel round, seems set on competing for market share rather than turning a profit just yet. Its latest funding round-which was led by BlackRock and closed on April 17-valued the firm at $2.9 billion. It has not yet disclosed a targeted IPO price range.

Luckin Coffee founder Jenny Zhiya Qian has amassed an impressive fortune as well. She owns a 20% stake in the company valued at over $500 million.

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The New Billionaire Behind The Chinese Coffee Chain That's Challenging Starbucks

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A scrappy startup that aims to overtake Starbucks in the world's second-largest economy has grown so much that an early investor is now a billionaire. Luckin Coffee, a fast-growing Chinese company with 2,370 stores in the country, has filed to go public on New York's Nasdaq stock exchange.

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Starbucks in trouble after enforcing "Third-Place Policy"

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Starbucks in trouble after enforcing "Third-Place Policy"

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After enforcing the "Third-Place Policy," Starbucks is under fire when people use Starbucks property to do drugs.

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Starbucks is facing a strange new struggle in its quest to be both an international coffee giant and a community-centered brand. It all comes down, once again, to its bathrooms.

After two black men were arrested while trying to use the bathroom in a Philadelphia Starbucks last year, cafes across the country closed for a day to hold an anti-bias training session for all employees. Following the incident, Starbucks changed its policies to allow anyone to use its bathrooms and public spaces, regardless of whether they have made a purchase. The " Use of the Third Place Policy " released in May 2018 states: " We want our stores to be the third place, a warm and welcoming environment where customers can gather and connect. Any customer is welcome to use Starbucks spaces, including our restrooms, cafes and patios, regardless of whether they make a purchase."

By standing firm in its assertion of the use of the third place, Starbucks has unwittingly opened its doors to America's burgeoning opioid crisis, particularly in urban centers. Currently, it is against federal and many state laws for cities or healthcare facilities to provide a designated space for opioid users to inject drugs, so many users resort to using public bathrooms in order to get high.

In January, Starbucks released an addendum to its Third Place Policy, which re-asserts that everyone is welcome but requests that visitors use its spaces as intended. " Our customers are welcome to use the spaces we provide appropriately, including our cafés, patios and restrooms," the policy says. This was released as Starbucks employees (called partners) were escalating their concerns over illicit drug use in cafe bathrooms and the personal health risks they are facing as a result.

A coworker.org petition created last year by Seattle-area partners urging Starbucks to install sharps disposal containers in bathrooms has reached over 5,000 signatures at the time of publication. Starbucks store manager Katrina L. commented after signing: " I worry about my team's safety and my own when changing trash out in my store. We have found numerous needles in our store in the last year (one just laying in the middle of the cafe floor of all places!) and, frankly, I'm over it."

A spokesperson for the coffee chain has said, "If our partners are ever in a position where they don't feel comfortable completing a task, they are empowered to remove themselves from the situation and alert their manager." However, the manager is ultimately responsible for the operations of the store, so the onus would presumably fall on those individuals to dispose of needles if other team members were to remove themselves.

A 2018 OSHA investigation led to a $ 3,100 fine against Starbucks after two employees at a cafe in Eugene, Oregon, were stuck with hypodermic needles within one month. According to Following this and other incidents, the coffee chain installed disposal boxes in 25 markets around the country. This summer, it will install them in all regions where it is deemed necessary-meaning store managers can request sharps disposal units if they see fit. A company representative was unable to provide information about whether there will be any additional training for partners to assist in the case of an overdose, such as naloxone or other opioid overdose reversal methods. Business Insider, these fines included penalties for failing to provide a sharps container in or near bathrooms where contaminated needles were commonly found, not making the hepatitis B vaccine available to potentially exposed partners, and insufficient training and exposure-control programs.

The idea of a third place-separate from the workplace or the home-was popularized by urban sociologist Ray Oldenberg in the early 1990s, and its usage is by no means new to Starbucks. Chairman emeritus Howard Schultz shaped the company's mission around a vision of creating community within the four walls of each cafe and fostering connections over a cup of coffee. However, as the coffee chain's reputation has shifted from catering to urban elites to that of a pervasive global presence, the usage of this third place has shifted as well. By releasing the Use of the Third Place Policy, Starbucks has redefined the third place as not only a stronghold of local communities but one of radical inclusion. It has chosen to prioritize welcoming in people over all else-an idealistic stance for a global corporation.

Roz Brewer, Starbucks' chief operating officer and group president, asserted from the stage of the Starbucks shareholder meeting in March that Starbucks would be staying true to an inclusive vision of the third place: "T he vitality of our mission and place in the world challenges us to connect with customers on a deeper level ... to ensure we always see the humanity in every customer who walks through our front doors."

Starbucks, unwittingly, has put itself on the front lines of one of America's largest public health crises. Now that the door is open, it would be irresponsible not to address the far-reaching implications of drug use in cafe bathrooms not only for partners but within the greater communities Starbucks wants to serve.

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Third-Place Policy Puts Starbucks In Uncomfortable Position Amid Drug Crisis

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Starbucks is facing a strange new struggle in its quest to be both an international coffee giant and a community-centered brand. It all comes down, once again, to its bathrooms. After two black men were arrested while trying to use the bathroom in a Philadelphia Starbucks last year, cafes across the country closed for a day to hold an anti-bias training session for all employees.

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$7.6 Million Mansion in Beverly Hills hits the market.

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$7.6 Million Mansion in Beverly Hills hits the market.

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A mansion in Beverly Hills finally hits the market and can be rented out for $7.6 million.

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A rare opportunity to buy a home at the Montage Residences Beverly Hills is now possible. Located on the sixth-floor, the condominium is currently the only one available for purchase at the property. In total, there are twenty full-ownership residences that comprise Montage Residences Beverly Hills. Residents of Montage Residences Beverly Hills are given full access to all the amenities offered at the adjacent Montage Beverly Hills, a Forbes' Travel Guide Five-Star hotel.

Offered furnished, residence 6D is a 1,917-square-foot home with two bedrooms and two full bathrooms and is the only two-bedroom option in the building. The unit has an open floor plan which incorporates the kitchen, living room and dining room. The living room is highlighted by an enormous fireplace. The flooring is made of pecan hardwood.

A covered terrace with "Jerusalem gold" stone flooring offers panoramic views of Beverly Hills' iconic skyline. The terrace, which runs the length of the residence and is accessible from the living room and both bedrooms, is furnished with comfortable and sophisticated lounge furniture.

The residence features state-of-the-art technology, including voice, data and cable connections that accommodate all media, entertainment, phone and network needs. A sound system is built into the ceilings. There's also an interior lighting dimming system.

The home's gourmet kitchen features custom millwork cabinets and polished Canadian Kodiak granite countertops. There's a full array of appliances, including a stainless-steel range, double ovens and hood by Wolf, stainless steel refrigerator, freezer and wine cooler by Sub-Zero and stainless-steel dishwasher, microwave, warming drawers by Miele. There's also a washer and dryer by Miele.

The master bedroom features a large walk-in closet while its bathroom has a frameless glass Roma Steam Bath steam shower and a separate soaking tub. Countertops and back splashes in each of the apartment's bathrooms are comprised of Brazilian Labrador antique stone while the showers and bathtub are made of ivory-toned Spanish crema marfil marble.

Residents of the Montage have an exclusive entry on Beverly Drive at Wilshire Boulevard and residential elevator bank that is separate from the hotel which offers direct access from the residential parking area to residences. Residences come with parking spaces as well as two storage spaces in the garage area, including one with walk-in storage that may be customized for wines.

The amenities found at Montage Residences Beverly Hills are beyond compare. Located in the heart of the "Golden Triangle" of Beverly Hills, Spa Montage is an award-winning a 20,000-square-foot full-service two-story spa with a full menu of facials (including state-of-the-art diamond facials) massages and body treatments. The spa has a mineral wellness pool (with cabanas), whirlpool, steam room and sauna.

Residents can also take advantage of a fitness center that offers wellness and fitness classes in addition to state-of-the-art cardio equipment. There's also an assortment of strength training equipment, including a free weight area and Synergy 360 functional fitness trainer. An adjoining movement and yoga studio hosts group classes and is also available for stretching and one-on-one private classes.

The rooftop of the Montage is an oasis with a mosaic-tiled saline swimming pool, a sun deck and private cabanas. The pool is set against the backdrop of panoramic views of the Beverly Hills cityscape and the Hollywood Hills. The Rooftop Grill, a bar and restaurant with a menu of California-themed cuisine, is also located here.

Residents can dine at The Restaurant, which offers modern American cuisine or at The Bar, which specializes in handcrafted cocktails and small plates. The Café at Montage Beverly Hills offers all day fare with breakfast, lunch and to-go options while during the evening, it transforms into a wine and champagne bar with light bites. On the second floor of the Montage, is a lounge called £10 that specializes in The Macallan Single Malt where guests can sample The Macallan's rarest expressions - some aged as long as 64 years.

Homeowners of Montage Residences Beverly Hills have access to a complimentary valet, dedicated residential director, concierge, as well as housekeeping, engineering, and in-room dining.

The home is listed with Ohana Realty. It can be seen at this link.

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Live Like Hollywood Royalty In This $7.6 Million Home At Montage Residences Beverly Hills

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A $7.6 million condominium at the Montage Residences Beverly Hills is currently on the market and offers a rare opportunity to purchase a home at the highly-coveted luxury development . Homeowners are given full access to all the amenities offered at the adjacent Montage Beverly Hills.

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Khol's stock is rising because of it's new deal with Amazon to accept Amazon returns.

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The S&P 500 broke above its all-time closing high of 2,930.75 in Tuesday trading.

Now it just needs to hold on to those gains until 4 p.m. ET.

While US stocks were stronger across the board, the S&P was boosted specifically by health care and cyclical consumer stocks.

Meanwhile, the Dow wasn't too far off its own historical best of 26,828 points. It's hovering about 0.6% below that level.

Snap ( SNAP) reports its first quarter earnings after the bell. Shares have been on a steady climb - up 40% - since its last earnings report in February:

The stock is up 5% today and 120% since the beginning of the year.

Will it continue to race higher? CNN Business will cover Snapchat's earnings live when they come out at 4pm ET.

US markets are off to a strong morning, driven higher by gains in technology and health care, as well as consumer stocks that do well when the market is also performing well.

The S&P 500 is only about 4 points, or 0.1%, away from its all-time closing high of 2,930 points.

Twitter ( TWTR) is the index's biggest gainer at nearly 17%, followed by toy retailer Hasbro ( HAS) with more than 14%. Both companies reported earnings before the bell. Twitter saw strong user growth last quarter, while sales at Hasbro were encouraging.

Quest Diagnostics ( DGX) was up 7%, and HCA Healthcare ( HCA) increased more than 5%.

In the Dow, Coca-Cola ( KO) led the field, rising 1.8%.

Telecom stocks were the weakest across the board. Verizon ( VZ) was the biggest loser in the Dow, down 2%. The company reported ailing wireless revenues, but better-than-expected earnings.

The Trump administration's tariff strategy is coming home to roost.

On Tuesday, Harley Davidson ( HOG) posted a drop infirst-quarter sales and earnings. It cited tariffs between the United States, the European Union and China as part of the reason for its weak performance.

Both the European Union and China retaliated against US-imposed tariffs by adding their own levies.

President Donald Trump tweeted Tuesday that the tariffs Harley faces were unfair and that the United States would reciprocate.

Harley shares were last down 1.1%.

Read the full story here.

Stocks kicked off Tuesday's session slightly stronger.
Among the morning's biggest gainers was toy retailer Hasbro ( HAS), which rallied more than 15% following its first quarter earnings report before the bell.

Twitter ( TWTR) shares jumped nearly 13%, also after it posted its earnings.

Twitter ( TWTR) reported strong user growth and advertising sales, which is boosting its stock more than 16% in early trading.

The company reported 330 million monthly active users in the first three months of 2019, an increase of 9 million from the prior quarter. That breaks Twitter's streak of three consecutive quarters of user declines.

Twitter posted revenue of $787 million for the quarter, up 18% from the same period a year ago and more than Wall Street had expected. The company credited this growth in part to traction for video ad formats.

The company also released a preview of some features it's soon rolling out:

Procter & Gamble ( PG) pushed through pricing increases on many of its big consumer brands, helping lead to a 5% increase in sales during its most recent quarter compared with a year earlier.

P&G's said Tuesday that its beauty division, which includes brands such as Olay and SK-II, grew in the teens last quarter. The conglomerate's home care division, comprised of Cascade, Dawn, Febreze and Swiffer, grew in the high single digits compared with a year ago.

P&G also got a lift from its Always and Tampax brands in its feminine care unit, and Tide Pods in fabric care.

The strong quarter signaled that, despite the growth of small online brands and big retailers' private labels in consumer products, shoppers are still attracted to P&G's big name brands. Although retailers such as Walmart and Amazon are competing with each other to drop prices, P&G has been able to raise its prices.

CEO David Taylor said in a release Tuesday that P&G had shown "improved results despite a challenging competitive and macroeconomic environment.

P&G's stock was flat during pre-market trading. It is up 15% so far this year.

Shares of Coca-Cola ( KO) were up about 3% before the market opened on Tuesday after the company reported solid earnings for the first quarter and reaffirmed its guidance for the year.

Sales grew 5% to $8 billion in the period. CEO James Quincey said that the company's plan to expand its portfolio is working. "Our disciplined growth strategies continue to deliver strong underlying performance," he said in a statement discussing the quarterly performance.

Some of Coca-Cola's core brands performed particularly well for the company. Coke Zero Sugar had double-digit growth for the sixth straight quarter, Coca-Cola said.

Orange Vanilla Coke and Orange Vanilla Coke Zero Sugar, which launched in February, helped drive 6% retail growth for the Coca-Cola brand products.

Strong sales from old-fashioned favorites and new initiatives is bolstering Hasbro's ( HAS) sales. The stock is up nearly 6% in premarket trading.

The toy maker reported a rise in first-quarter revenue and a surprise profit - a much-needed turnaround after it reported a loss for the same quarter a year ago following the closure of Toys 'R' Us.

Hasbro CEO Brian Goldner said the sales of Magic: The Gathering, Monopoly and Play-Doh showed growth. The company also said its investments in new platforms, like digital and e-sports "provided a meaningful contribution."

With most of the year ahead of us, we remain on track to deliver profitable growth for the full-year 2019," Goldner said.

What we're covering here today

The S&P 500 broke above its all-time closing high of 2,930.75 in Tuesday trading.

Now it just needs to hold on to those gains until 4 p.m. ET.

While US stocks were stronger across the board, the S&P was boosted specifically by health care and cyclical consumer stocks.

Meanwhile, the Dow wasn't too far off its own historical best of 26,828 points. It's hovering about 0.6% below that level.

Snap ( SNAP) reports its first quarter earnings after the bell. Shares have been on a steady climb - up 40% - since its last earnings report in February:

The stock is up 5% today and 120% since the beginning of the year.

Will it continue to race higher? CNN Business will cover Snapchat's earnings live when they come out at 4pm ET.

US markets are off to a strong morning, driven higher by gains in technology and health care, as well as consumer stocks that do well when the market is also performing well.

The S&P 500 is only about 4 points, or 0.1%, away from its all-time closing high of 2,930 points.

Twitter ( TWTR) is the index's biggest gainer at nearly 17%, followed by toy retailer Hasbro ( HAS) with more than 14%. Both companies reported earnings before the bell. Twitter saw strong user growth last quarter, while sales at Hasbro were encouraging.

Quest Diagnostics ( DGX) was up 7%, and HCA Healthcare ( HCA) increased more than 5%.

In the Dow, Coca-Cola ( KO) led the field, rising 1.8%.

Telecom stocks were the weakest across the board. Verizon ( VZ) was the biggest loser in the Dow, down 2%. The company reported ailing wireless revenues, but better-than-expected earnings.

The Trump administration's tariff strategy is coming home to roost.

On Tuesday, Harley Davidson ( HOG) posted a drop infirst-quarter sales and earnings. It cited tariffs between the United States, the European Union and China as part of the reason for its weak performance.

Both the European Union and China retaliated against US-imposed tariffs by adding their own levies.

President Donald Trump tweeted Tuesday that the tariffs Harley faces were unfair and that the United States would reciprocate.

Harley shares were last down 1.1%.

Read the full story here.

Stocks kicked off Tuesday's session slightly stronger.
Among the morning's biggest gainers was toy retailer Hasbro ( HAS), which rallied more than 15% following its first quarter earnings report before the bell.

Twitter ( TWTR) shares jumped nearly 13%, also after it posted its earnings.

Twitter ( TWTR) reported strong user growth and advertising sales, which is boosting its stock more than 16% in early trading.

The company reported 330 million monthly active users in the first three months of 2019, an increase of 9 million from the prior quarter. That breaks Twitter's streak of three consecutive quarters of user declines.

Twitter posted revenue of $787 million for the quarter, up 18% from the same period a year ago and more than Wall Street had expected. The company credited this growth in part to traction for video ad formats.

The company also released a preview of some features it's soon rolling out:

Procter & Gamble ( PG) pushed through pricing increases on many of its big consumer brands, helping lead to a 5% increase in sales during its most recent quarter compared with a year earlier.

P&G's said Tuesday that its beauty division, which includes brands such as Olay and SK-II, grew in the teens last quarter. The conglomerate's home care division, comprised of Cascade, Dawn, Febreze and Swiffer, grew in the high single digits compared with a year ago.

P&G also got a lift from its Always and Tampax brands in its feminine care unit, and Tide Pods in fabric care.

The strong quarter signaled that, despite the growth of small online brands and big retailers' private labels in consumer products, shoppers are still attracted to P&G's big name brands. Although retailers such as Walmart and Amazon are competing with each other to drop prices, P&G has been able to raise its prices.

CEO David Taylor said in a release Tuesday that P&G had shown "improved results despite a challenging competitive and macroeconomic environment.

P&G's stock was flat during pre-market trading. It is up 15% so far this year.

Shares of Coca-Cola ( KO) were up about 3% before the market opened on Tuesday after the company reported solid earnings for the first quarter and reaffirmed its guidance for the year.

Sales grew 5% to $8 billion in the period. CEO James Quincey said that the company's plan to expand its portfolio is working. "Our disciplined growth strategies continue to deliver strong underlying performance," he said in a statement discussing the quarterly performance.

Some of Coca-Cola's core brands performed particularly well for the company. Coke Zero Sugar had double-digit growth for the sixth straight quarter, Coca-Cola said.

Orange Vanilla Coke and Orange Vanilla Coke Zero Sugar, which launched in February, helped drive 6% retail growth for the Coca-Cola brand products.

Strong sales from old-fashioned favorites and new initiatives is bolstering Hasbro's ( HAS) sales. The stock is up nearly 6% in premarket trading.

The toy maker reported a rise in first-quarter revenue and a surprise profit - a much-needed turnaround after it reported a loss for the same quarter a year ago following the closure of Toys 'R' Us.

Hasbro CEO Brian Goldner said the sales of Magic: The Gathering, Monopoly and Play-Doh showed growth. The company also said its investments in new platforms, like digital and e-sports "provided a meaningful contribution."

With most of the year ahead of us, we remain on track to deliver profitable growth for the full-year 2019," Goldner said.

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What's moving markets today: Live updates

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The S&P 500 broke above its all-time closing high of 2,930.75 in Tuesday trading. Now it just needs to hold on to those gains until 4 p.m. ET. While US stocks were stronger across the board, the S&P was boosted specifically by health care and cyclical consumer stocks.

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A teen is suing Apple for $1B after the facial recognition software on newer iPhones lead to his false arrest.

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An 18-year-old New York student has slapped Apple with a $1 billion lawsuit after he says the company's facial recognition software led to his false arrest.

The suit filed Monday alleges that Ousmane Bah was first wrongly identified as a thief at one of Apple's stores in Boston last May after someone used his learner's driving permit which did not have a photo to pass themselves off as him when they were caught stealing more than $1,200 worth of merchandise. Bah claims he lost his permit, which may have been found or stolen by the real criminal.

Bah then claims Apple took the perpetrator at his word and programmed the man's face using Bah's information into its security systems.

The thief then went on to steal at other Apple locations in New York, New Jersey and Delaware, which ultimately led to Bah's arrest in November.

In the suit, Bah claims when police showed up at his home to arrest him, the photo attached to the arrest warrant didn't look like him at all.

And, after reviewing the surveillance footage, the police later dropped the charges against him in New York and Delaware but charges are still pending in New Jersey.

As a result, Bah claims the allegations against him have led to severe stress and hardship.
CLICK HERE TO GET THE FOX BUSINESS APP
Neither Apple, nor the security firm used by the company Security Industry Specialists Inc., responded to FOX Business' request for comment on the suit.

Bloomberg was first to report the news of the lawsuit.

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Teen sues Apple for $1B after its facial recognition software led to his false arrest

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An 18-year-old New York student has slapped Apple with a $1 billion lawsuit after he says the company's facial recognition software led to his false arrest.

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What To Do When You Can Pay Taxes On Time?

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What To Do When You Can Pay Taxes On Time?

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This article explains why filing taxes on time is always better, even if you know that you will owe money afterwards.

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Ready to file your federal tax return? If you know that you can't pay up by Tax Day, April 15, file anyway. Penalties apply for failure to file and failure to pay. To reduce the hit to your wallet, file your return even if you're going to owe and even if you know that you can't pay. After you file, there are payment options available - and options when you can't pay at all. Here's what you need to know:

1. Pay by credit card. I'm generally not a fan of replacing one kind of debt with another. But if your ability to pay is a timing issue - as opposed to an "I absolutely don't have it at all" issue - you can pay your federal income taxes by credit card. The Internal Revenue Service (IRS) accepts all major credit cards (American Express, Discover, MasterCard, or Visa). To make a payment, head over to the credit card payment page on the IRS website and choose one of the payment processors to pay online or by phone (if you're paying by credit card and using e-file, your options are here).

The IRS doesn't charge a fee for credit card payments. However, third-party credit and debit card providers may charge a fee, which may vary by provider, card type, and payment amount. Applicable fees for debit cards range from $2.00 to $3.95 while fees for credit cards range from 1.87% to 1.99% (minimum fees apply). Pay as much as you can upfront since you are limited to two credit card payments for individual income tax payments. If you're paying more than $100,000 by credit card, call 1.888.734.8212; if you're paying more than $500,000 by credit card, call 1.888.877.0450. If you're paying more than $1,000,000, by credit call 1.888.889.7228 (you may also need a new tax preparer, just saying).

Remember, paying by credit card is a good option if you know you can pay the bill off eventually. Credit card interest and other fees can add up so if you know you won't be able to pay off the balance at all, consider other options.

2. Refinance your home. Again, I'm generally not a fan of replacing one kind of debt with another (see #1) but even the IRS will recommend a re-fi to pay your taxes if you can afford it. If you have sufficient equity in your home, using that equity to resolve your outstanding tax debt may make sense. Mortgage rates remain relatively low which is good, but remember that the rules for deducting home mortgage interest when you refinance have changed, so don't count on the offset. Also, if you're already underwater, or headed that way, this isn't a good option: you don't want to lose your home over a tax bill.

3. Enter into an Installment Agreement. Consider an installment agreement with the IRS. An installment agreement lets you pay what you owe over time. Depending on how much you owe, you won't even have to speak with a real person: if you owe $50,000 or less in combined individual income tax, penalties and interest, you can apply for an installment agreement online. You can also apply for an installment agreement by mail using federal form 9465, Installment Agreement Request (downloads as a pdf). Fees do apply. Keep in mind that it's cheaper if you sign up online and even less expensive if you agree to pay by direct debit.

You must file all of your tax returns before you apply. The IRS will usually let you know within 30 days after receipt of the request whether it is approved or denied. The IRS will charge you interest while you're paying your bill and may file a federal tax lien until you pay in full. The IRS may also seize your tax refund while you're in repayment (but you know that could happen anyway).

If you owe more than $50,000 or your taxes are other than individual income taxes, the rules are a bit different: check with the IRS directly in that event.

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4. Consider an Offer in Compromise (OIC). An OIC allows you to settle your tax debt for less than the full amount you owe. The IRS considers a host of circumstances including the ability to pay; income; expenses; and asset equity. Generally, the IRS will only agree to an OIC if they determine they will not be able to collect the amount due within a reasonable period of time. This option shouldn't be your first choice and please don't believe those TV commercials that swear you'll be able to settle your tax bill for pennies on the dollar. Please do your homework before signing up with any company who promises you the moon in exchange for your check.

Lots of taxpayers have good reasons why they can't pay their tax bills, and the IRS is looking for a really good reason before they cut you a break: most offers are actually rejected. As with any installment agreement, you must be current with all filing and payment requirements to apply and the IRS will return any newly filed OIC application if you have not filed your tax returns.

There's a non-refundable fee of $186 to apply for the OIC. In addition, you'll need to be prepared to submit a lump sum payment of 20% of your tax due or the equivalent of a monthly payment upfront. Also, penalties and interest will continue to accrue during consideration of the OIC.

While you can apply for an OIC on your own, I highly recommend that you consider a tax professional. If, however, you opt to try it yourself, use the IRS' Pre-Qualifier online tool to see if you qualify and to calculate a preliminary offer amount.

5. Ask for additional time. Based on your circumstances, you may be granted a brief amount of additional time to pay your tax in full. You can make the request through the Online Payment Agreement (see #3) or by calling 1.800.829.1040.

6. Can't pay at all? If you are insolvent or unable to pay due to circumstances beyond your control (for example, unemployment or disability), the IRS is willing to work with you. Give them a call at 1.800.829.1040 or use the phone number on any notice that you might have received in the mail.

If you're not quite sure how much you owe for a specific tax year, you can check your balance due with a the online account tool available from IRS. You can also use the automated system available by phone at 1.800.829.1040.

Whatever you do, don't ignore your outstanding tax bills. They won't simply fade away. To the contrary, they'll likely get bigger and Congress has become more aggressive with enforcement, authorizing private debt collectors and seizing passports for failure to pay. Take steps now to pay what you owe and avoid trouble down the line. Help is available.
Note that these options apply if you can't pay your tax bill in full. If you're ready to file and make payment, check out these payment options.

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What To Do When You Can't Pay Your Tax Bill

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Ready to file your federal tax return? If you know that you can't pay up by Tax Day, April 15, file anyway. Penalties apply for failure to file and failure to pay. To reduce the hit to your wallet, file your return even if you're going to owe and even if you know that you can't pay.

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Tesla is planning to change up its board of directors after Elon Musk tweets about taking Tesla private, misleading investors.

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tesla to shakeup its board of directors - cnn

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Tesla announces shakeup to its board of directors

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Tesla revealed Friday that four directors will leave the company - shrinking the size of its board to seven eventually.

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Gas and oil prices in America rise because of loss of stocks in oil.

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The price of crude oil surged Monday after the U.S. government moved to further block Iranian oil exports. That helped to lift energy stocks, but losses elsewhere in the market held U.S. indexes in check. The S&P 500 flip-flopped between modest gains and losses in morning trading, much as it has the last few weeks.

The Trump administration said it will no longer exempt any countries from U.S. sanctions if they continue to buy Iranian oil, including China and Japan, the world's second and third largest economies. That helped the price of benchmark U.S. crude touch its highest level since October, and energy stocks in the S&P 500 jumped 1.7%.

Most other areas of the stock market were weaker, though, and seven of the 11 sectors that make up the S&P 500 index were lower. Real-estate stocks had some of the sharpest losses. Raw-material producers and health care stocks were also weak.

Stock trading was relatively muted around the world, with markets in London, Frankfurt and other major markets closed for holidays.

The U.S. market itself has remained notably calm in recent weeks after following up a nearly 20% plummet late last year with a nearly mirror-opposite rebound. Investors will be getting several potentially market-moving reports later this week, including a cavalcade of corporate earnings reports and a read on how much U.S. economic growth slowed during the first three months of the year.

KEEPING SCORE: The S&P 500 was up by 0.1% as of 11:40 a.m. Eastern time after earlier being down as much as 0.3%. The index is within 0.8% of its record high, which was set in September.

The Dow Jones Industrial Average fell 10 points, or less than 0.1%, to 26,550, and the Nasdaq composite rose 0.1%.

BUBBLING CRUDE: Benchmark U.S. crude surged $1.59, or 2.5%, to $65.66 per barrel. The leap tacks further gains onto the price of oil, which has been climbing since dropping below $43 in late December. Brent crude rose $2.03, or 2.8%, to $74.00 per barrel.

President Donald Trump made the move with the intent of bringing Iran's oil exports to zero. If successful, the move could increase demand for oil from U.S. allies Saudi Arabia and the United Arab Emirates but would heighten political tensions.

"The big fear now and perhaps the markets' next significant catalyst, will Iran retaliate with force?" said Stephen Innes of SPI Asset Management in a report.

Marathon Oil rose 4.8%, and Exxon Mobil gained 2%.

CUT DEEP: Intuitive Surgical fell to the largest loss in the S&P 500 after the robotic surgery system company reported weaker earnings for the latest quarter than Wall Street expected. It dropped 7%.

SUPPLY SURPRISE: W.W. Grainger sank 4.4% after the supplier of maintenance, repair and operating products reported weaker revenue for the latest quarter than analysts expected.

CLEANING UP: Kimberly-Clark jumped 5.9% for the biggest gain in the S&P 500 after the maker of Huggies diapers and Kleenex tissue reported stronger earnings and revenue for its latest quarter than analysts expected.

IT'S QUIET OUT THERE: The stock market has been notably calm, with no move for the S&P 500 of more than 0.7% in either direction after April 1.

Bigger moves may be ahead, with a crush of corporate earnings reports due this week. More than a quarter of the companies in the S&P 500 are scheduled to report, including Amazon.com, Exxon Mobil and Facebook.

Expectations are low for earnings broadly, and analysts are forecasting the first drop in profit for the S&P 500 in nearly three years. But most companies are reporting stronger profits than Wall Street had been expecting, which is typical.

Later this week, investors will also get a preliminary read on the economy's strength during the first quarter of the year. Economists expect the report to show that growth slowed to 1.8% from 2.2% in the fourth quarter of last year.

WORLD MARKETS: Markets around the world were mixed in relatively muted trading. The Nikkei 225 index in Japan rose 0.1%, and the Kospi in South Korea was virtually flat, while stocks in Shanghai lost 1.7%. Markets in Paris, Hong Kong and Sydney were closed for holidays.

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AP Business Writer Joe McDonald contributed from Beijing.

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As oil surges, US stocks drift sideways in another muted day

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The price of crude oil surged Monday after the U.S. government moved to further block Iranian oil exports. That helped to lift energy stocks, but losses elsewhere in the market held U.S. indexes in check. The S&P 500 flip-flopped between modest gains and losses in morning trading, much as it has the last few weeks.