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Harry Potter play tickets on sale for $6,000+...but don't guarantee entry
August 15, 2016
Wouldn't it be nice if the magical Gringotts Bank offered loans?
Harry Potter fans are forking out thousands of pounds to see J.K. Rowling's new sold-out play -- 'Harry Potter and the Cursed Child' -- at the Grand Palace Theater in London.
Resellers have been asking for eye-watering figures of up to £5,000 ($6,400) per ticket, which is roughly 36 times the face value.
But paying thousands does not guarantee the ticket will be accepted at the theater.
The terms and conditions of the show forbid reselling tickets through websites such as StubHub, Getmein and Viagogo. The theater can refuse admission if they can identify tickets that were re-sold through these unofficial channels -- and roughly 60 bookings have been refused so far.
The 'Cursed Child' producers are not happy about the resales.
"The secondary-ticket market is an industry-wide plague, and one which we as producers take very seriously," they said in a statement. "Our priority is to protect all our customers and [we] are doing all we can to combat this issue."
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Adam Webb, campaign manager for FanFair Alliance, a group that stands against online ticket touting said, "it would be hugely disappointing [if] you buy a ticket in good faith but the ticket is worth nothing when you get to the door."
He said secondary ticket sellers charge huge service fees and lack transparency about the identity of the original sellers.
Related: NBCUniversal buys 'Harry Potter'
The two-part Harry Potter play recently debuted in the heart of the West End theater district in London. The first block of tickets went on sale in October 2015. Dedicated fans of the wizard saga have traveled across the world to see the performance.
More tickets were released in early August, but all 250,000 of them sold out in a day.
Fans who didn't buy their tickets on time can still hope for some magic. The show team said that returned and last-minute tickets are becoming available daily.
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Health care will cost you $260,000 in retirement
August 16, 2016
Saving for retirement might be easier if you know how much money you'll actually need.
It's a tough number to nail down, but a new report estimates how much you'll spend on what's likely to be your biggest expense: health care.
A couple retiring this year will need $260,000 to cover health care costs in retirement, according to Fidelity.
It's a ballpark number, but it's helpful to keep it in mind as you plan out your retirement.
Related: How much should you have saved for retirement?
The estimate applies to those with traditional Medicare insurance coverage and considers premiums, co-payments, deductibles, and out-of-pocket drug costs. It assumes that both spouses are 65 years old.
About one-third of the total $260,000 cost is for something everyone has to pay no matter how healthy you are: premiums for Medicare Part B (doctor services and outpatient care) and Part D (prescription drugs).
This year most people with Medicare paid $105 a month -- or $1,260 a year -- for Part B premiums, and that could go up by $2 a month next year, according to the National Committee to Preserve Social Security and Medicare. The price is tied to inflation, and could be more for new retirees and high-income beneficiaries.
The premiums for Part D are set by your provider and vary by plan and by where you live. You can expect these to take up a big chunk of your expenses and are big drivers of rising health care costs.
The $13 trillion question: How fast are India and China really growing?
June 08, 2016
In a world of slowing growth and rising uncertainty, it's tempting to take comfort in the thought that Asia's giant emerging economies are still expanding at a healthy pace.
Consider the most recent GDP numbers from China and India: Beijing says its economy grew by a respectable 6.7% in the first three months of 2016, while New Delhi reported a remarkable 7.9% expansion in the same period.
Don't get too comfortable, though: Both countries have been dogged by persistent doubts over the quality of their data, leading scores of reputable economists to cast aside official measures and turn to alternative gauges instead.
Why is that important? Together, the countries account for 16% of world GDP, or about $13 trillion. They are bulwarks against what the World Bank described Wednesday as "insipid" global growth of 2.4% in its latest outlook.
For India, the storm clouds began to gather in January 2015 when the country's statistics bureau changed the way it calculates the size of the economy. Overnight, the pace of growth went from mediocre to eye-popping.
Officials have defended the change, arguing that the new method is far more rigorous, and incorporates crucial data from the corporate sector that only recently became available.
Related: This Indian 'buyers club' helps Americans buy cheap drugs
Critics of the statistics agency, however, have not been swayed. They say the new GDP numbers lack credibility because they diverge so dramatically from indicators such as industrial production, investment spending and exports.
When the government reported red hot growth last week, one persistent critic, Shilan Shah of Capital Economics, said plainly that the number was suspect: "There is some evidence that India's economy has picked up speed recently but today's remarkably strong GDP data are hard to believe."
The next day, T.C.A. Anant, India's chief statistician, met with reporters to defend the work of his number crunchers, while acknowledging it's not perfect.
Dow plunges 213 points, breaks 11K
April 27, 2010
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Goldman: CEO Lloyd Blankfein and other executives from Goldman Sachs were answering lawmakers' questions as part of a Senate hearing on the role investment banks played in the financial market meltdown in 2008.
Blankfein, in prepared testimony, denied that the company sought to profit from the housing market collapse, an allegation lawmakers have made recently.
Fabrice Tourre, the trader charged in the Securities and Exchange Commission's fraud case against Goldman Sachs defended himself, saying he categorically denied the SEC's allegations.
On the move: Financials, energy and technology, the three biggest movers of the market in terms of sectors, all fell.
Goldman Sachs (GS, Fortune 500) gained 1%, but other bank shares plunged, with the KBW (BKX) Bank index losing over 3%. Sliding oil prices dragged on energy stocks, including Dow components Exxon Mobil (XOM, Fortune 500) and Chevron (CVX, Fortune 500).
Declines were broad based, with 28 of 30 Dow components falling. In addition to the Dow's financial and energy components, other losers included heavily weighted tech stocks Hewlett-Packard (HPQ, Fortune 500) and IBM (IBM, Fortune 500), aerospace and defense names Boeing (BA, Fortune 500) and United Technologies (UTX, Fortune 500) and heavy-machinery maker Caterpillar (CAT, Fortune 500).
Caterpillar shares rallied Monday after the company reported better-than-expected earnings and boosted its 2010 profit forecast.
Market breadth was negative. On the New York Stock Exchange, losers beat winners five to one on volume of 1.68 billion shares. On the Nasdaq, decliners topped advancers by over four to one on volume of 2.77 billion shares.