Microsoft Can’t Get Its Phone To Work, Plus American Millennials Think Retirement Is Unattainable

Source: brobible.com --- Thursday, May 26, 2016
“If you keep pulling out of every city that tries to regulate, you won’t have any place to operate” — Anthony Beale , chairman of Chicago City Council’s Transportation Committee, during a hearing with Uber and Lyft. After driving out of Austin earlier this month, Uber and Lyft are now threatening to abandon Chicago if they’re forced to license their drivers. Chicagoans, be warned. MARKET SNAPSHOT Big Picture U.S. stocks finished higher for the second day in a row, with the energy and materials sectors leading gains. Utilities was the only sector to finish in the red, while the S&P reached a one-month high Alternatives to Watch Though not breaking through $50 (yet), oil prices haven’t been this high since last Halloween, as a drop in U.S. crude inventories sparked a rally __________ CORPORATE PRIMER Alibaba in the Hot Seat This just in: another Chinese company has been accused of unsavory accounting practices. Sound familiar? This time it’s a much bigger deal, as the suspect is none other than e-commerce giant Alibaba —aka the Amazon of China. The SEC has ordered Alibaba to fork over all the data related to its largest shopping day of the year (the Chinese Black Friday, if you will). Regulators believe Alibaba hasn’t been reporting its earnings using the standardized GAAP guidelines that all U.S.-listed companies must adhere to—a big no-no, since if every company used its own interpretation of measurements like “net income,” it wo ...

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