Stocks: 4 things to know before the open

Click on the chart for in-depth market data.

LONDON (CNNMoney)

Here are the 4 things you need to know before the opening bell rings in New York:

1. Futures bounce: U.S. stock futures are pointing to modest gains to kick off Wednesday's session.

This year the Dow Jones industrial average is trading up nearly 9%, the S&P 500 has gained about 13% and the Nasdaq has rallied by more than 14%.

2. International markets overview: European markets are moving higher in a shortened trading day.

Investors in China gave stocks a year-end boost, while many other Asian markets were closed for the holidays.

Buoyed by new trading rules, policy action to support the economy and hopes of more stimulus, the Shanghai Composite was the world's best performing major market in 2014, climbing more than 50%.

Related: Fear & Greed Index

3. Economic update: It's a light day for economic news, with just weekly jobless claims due out from the U.S. Department of Labor at 8:30 a.m. ET.

4. Tuesday market recap: It was a down day for U.S. stocks Tuesday. The Dow slipped 0.3%, the S&P 500 dropped 0.5% and the tech-heavy Nasdaq shed 0.6%.

Related: The only funds you need in your portfolio now

Related: Billionaire David Einhorn says investing is harder than poker

First Published: December 31, 2014: 5:11 AM ET

21.29 | 0 komentar | Read More

How to invest like a billionaire

NEW YORK (CNNMoney)

Bill Ackman, who runs the hedge fund Pershing Square, had the best year among the "big guys." His portfolio gained nearly 47% this year, according to an analysis by iBillionaire.

His ace bet this year was on health care company Allergan (AGN), the maker of Botox. It turned out to be one of the best performing stocks of 2014 after two rival drugmakers got in a bidding war to take it over.

Related: Billionaire boom: Where the money is now

Ackman is a high conviction manager who likes to put a lot of money into a few stocks. It paid off this year thanks to Allergan and Canadian Pacific (CP), his second-largest position, which soared 27%.

But the gains may not last. Canadian Pacific could be hurt by plunging oil prices and the pullback in the North American energy sector, which transports some goods via train.

Related: Investing is harder than poker, David Einhorn says

The sage of Omaha: Many investors know the name Warren Buffett. 2014 will go down as a "ho-hum" year for him. His portfolio of publicly traded stocks is on track to end the year up about 9%, according to iBillionaire. That's well below the 15% total return (including dividends) for the S&P 500.

Buffett's largest stake is in the bank Wells Fargo (WFC). That was a winner for him as the bank grew lending and its asset management business, but his second-largest holding in Coke (KO) went sour as consumers around the world shifted away from sodas to other beverages.

The company Buffett may regret buying the most this year though is IBM (IBM, Tech30). It's by far and away the worst performer among the 30 top American businesses in the Dow.

IBM is trying to reinvent itself by laying off workers and selling its chip unit at a loss. Buffett likes to stick with companies for the long-term, but so far, other investors aren't impressed with the turnaround plan.

Related: Warren Buffett loses $2 billion in two days

Next generation investors: While not as well known yet, David Tepper, the head of Appaloosa Management, is seen as a "next generation Buffett."

He actually beat Buffett this year, thanks largely to his investments in tech stocks like Facebook (FB, Tech30).

"Another big trend from the next generation Buffetts is to be very bullish on airlines. A few months ago that didn't make sense, but now that oil is down so much, Delta (DAL) is up 80%," says Raul Moreno, CEO and co-founder of the iBillionaire website, app and ETF.

While energy has taken a beating this year and hurt some of these billionaire's portfolios, many of them are actually adding to their positions.

Related: The best stocks of 2014

The losers of 2014: That's certainly the case for Carl Icahn, one of the year's biggest laggards. He is on track to finish 2014 slightly negative thanks to his energy holdings in Ichan Enterprises.

But the uber wealthy investor having the worst year out of all the managers that iBillionaire tracks is Wilbur Ross. He's the head of WL Ross & Co., which was acquired by Invesco in recent years.

Distressed assets are his specialty, but his own portfolio looks in need of some rescuing this calendar year as over half his portfolio is in Navigator Holdings (NVGS), a shipping company that transports liquefied gas. The stock is down about 26%.

Ross' second largest position is in Exco Resources (XCO), an energy company that lost 60% of its value this year.

"When companies go down, billionaires become more aggressive and buy more," Moreno says.

First Published: December 31, 2014: 5:48 AM ET

21.29 | 0 komentar | Read More

Russia slashing vodka prices as economy reels

LONDON (CNNMoney)

The state agency that regulates the alcohol market said this month that it will slash vodka prices in February by about 16%.

The price cut marks a reversal for Russian policy makers, who have tried to discourage excessive drinking by hiking alcohol taxes, banning advertising and introducing new, restrictive regulations over the past few years.

But now inflation in Russia is near 10%, the ruble has fallen by more than 40% this year and the economy is shrinking -- and cheaper vodka just might take the edge off.

The country is getting hit hard by a sharp drop in oil prices as well as Western sanctions, and the situation is expected to get much worse before it gets better.

Related: Wealthy Russians aren't buying U.S. homes anymore

News of the vodka price cut comes after Russian President Vladimir Putin told government officials in Moscow last week that he was concerned that expensive vodka was driving consumers to drink cheaper bootlegged substitutes, which are not fully taxed or regulated.

The latest estimates suggest that up to one-third of vodka in Russia is bought through the black market.

Alcohol prices in Russia have risen much faster than other items in recent years due to targeted government regulations. In 2013, alcohol prices shot up by about 15%, according to data from Euromonitor International.

Rising prices have helped curb consumption, and vodka sales have been hit particularly hard.

Russians consumed nearly 1.2 billion liters of vodka drinks in 2013, according to research from Mintel, down 13% compared to 2012.

Alcoholism in Russia is considered a major problem. It's believed to cause nearly 500,000 deaths per year and is responsible for one-third of crimes, according to Euromonitor.

"Alcohol consumption patterns in Russia are amongst the riskiest in the world as consumers frequently prefer to drink excessively," Euromonitor stated in a report.

First Published: December 31, 2014: 7:10 AM ET

21.29 | 0 komentar | Read More

Stocks: 4 things to know before the open

Click on the chart for in-depth market data.

LONDON (CNNMoney)

Here are the 4 things you need to know before the opening bell rings in New York:

1. Futures bounce: U.S. stock futures are pointing to modest gains to kick off Wednesday's session.

This year the Dow Jones industrial average is trading up nearly 9%, the S&P 500 has gained about 13% and the Nasdaq has rallied by more than 14%.

2. International markets overview: European markets are moving higher in a shortened trading day.

Investors in China gave stocks a year-end boost, while many other Asian markets were closed for the holidays.

Buoyed by new trading rules, policy action to support the economy and hopes of more stimulus, the Shanghai Composite was the world's best performing major market in 2014, climbing more than 50%.

Related: Fear & Greed Index

3. Economic update: It's a light day for economic news, with just weekly jobless claims due out from the U.S. Department of Labor at 8:30 a.m. ET.

4. Tuesday market recap: It was a down day for U.S. stocks Tuesday. The Dow slipped 0.3%, the S&P 500 dropped 0.5% and the tech-heavy Nasdaq shed 0.6%.

Related: The only funds you need in your portfolio now

Related: Billionaire David Einhorn says investing is harder than poker

First Published: December 31, 2014: 5:11 AM ET

19.33 | 0 komentar | Read More

How to invest like a billionaire

NEW YORK (CNNMoney)

Bill Ackman, who runs the hedge fund Pershing Square, had the best year among the "big guys." His portfolio gained nearly 47% this year, according to an analysis by iBillionaire.

His ace bet this year was on health care company Allergan (AGN), the maker of Botox. It turned out to be one of the best performing stocks of 2014 after two rival drugmakers got in a bidding war to take it over.

Related: Billionaire boom: Where the money is now

Ackman is a high conviction manager who likes to put a lot of money into a few stocks. It paid off this year thanks to Allergan and Canadian Pacific (CP), his second-largest position, which soared 27%.

But the gains may not last. Canadian Pacific could be hurt by plunging oil prices and the pullback in the North American energy sector, which transports some goods via train.

Related: Investing is harder than poker, David Einhorn says

The sage of Omaha: Many investors know the name Warren Buffett. 2014 will go down as a "ho-hum" year for him. His portfolio of publicly traded stocks is on track to end the year up about 9%, according to iBillionaire. That's well below the 15% total return (including dividends) for the S&P 500.

Buffett's largest stake is in the bank Wells Fargo (WFC). That was a winner for him as the bank grew lending and its asset management business, but his second-largest holding in Coke (KO) went sour as consumers around the world shifted away from sodas to other beverages.

The company Buffett may regret buying the most this year though is IBM (IBM, Tech30). It's by far and away the worst performer among the 30 top American businesses in the Dow.

IBM is trying to reinvent itself by laying off workers and selling its chip unit at a loss. Buffett likes to stick with companies for the long-term, but so far, other investors aren't impressed with the turnaround plan.

Related: Warren Buffett loses $2 billion in two days

Next generation investors: While not as well known yet, David Tepper, the head of Appaloosa Management, is seen as a "next generation Buffett."

He actually beat Buffett this year, thanks largely to his investments in tech stocks like Facebook (FB, Tech30).

"Another big trend from the next generation Buffetts is to be very bullish on airlines. A few months ago that didn't make sense, but now that oil is down so much, Delta (DAL) is up 80%," says Raul Moreno, CEO and co-founder of the iBillionaire website, app and ETF.

While energy has taken a beating this year and hurt some of these billionaire's portfolios, many of them are actually adding to their positions.

Related: The best stocks of 2014

The losers of 2014: That's certainly the case for Carl Icahn, one of the year's biggest laggards. He is on track to finish 2014 slightly negative thanks to his energy holdings in Ichan Enterprises.

But the uber wealthy investor having the worst year out of all the managers that iBillionaire tracks is Wilbur Ross. He's the head of WL Ross & Co., which was acquired by Invesco in recent years.

Distressed assets are his specialty, but his own portfolio looks in need of some rescuing this calendar year as over half his portfolio is in Navigator Holdings (NVGS), a shipping company that transports liquefied gas. The stock is down about 26%.

Ross' second largest position is in Exco Resources (XCO), an energy company that lost 60% of its value this year.

"When companies go down, billionaires become more aggressive and buy more," Moreno says.

First Published: December 31, 2014: 5:48 AM ET

19.33 | 0 komentar | Read More

Russia slashing vodka prices as economy reels

Russian President Vladimir Putin is known to enjoy his vodka with high-powered friends, including Chinese President Xi Jinping.

LONDON (CNNMoney)

The state agency that regulates the alcohol market said this month that it will slash vodka prices in February by about 16%.

The price cut marks a reversal for Russian policy makers, who have tried to discourage excessive drinking by hiking alcohol taxes, banning advertising and introducing new, restrictive regulations over the past few years.

But now inflation in Russia is near 10%, the ruble has fallen by more than 40% this year and the economy is shrinking -- and cheaper vodka just might take the edge off.

The country is getting hit hard by a sharp drop in oil prices as well as Western sanctions, and the situation is expected to get much worse before it gets better.

Related: Wealthy Russians aren't buying U.S. homes anymore

News of the vodka price cut comes after Russian President Vladimir Putin told government officials in Moscow last week that he was concerned that expensive vodka was driving consumers to drink cheaper bootlegged substitutes, which are not fully taxed or regulated.

The latest estimates suggest that up to one-third of vodka in Russia is bought through the black market.

Alcohol prices in Russia have risen much faster than other items in recent years due to targeted government regulations. In 2013, alcohol prices shot up by about 15%, according to data from Euromonitor International.

Rising prices have helped curb consumption, and vodka sales have been hit particularly hard.

Russians consumed nearly 1.2 billion liters of vodka drinks in 2013, according to research from Mintel, down 13% compared to 2012.

Alcoholism in Russia is considered a major problem. It's believed to cause nearly 500,000 deaths per year and is responsible for one-third of crimes, according to Euromonitor.

"Alcohol consumption patterns in Russia are amongst the riskiest in the world as consumers frequently prefer to drink excessively," Euromonitor stated in a report.

First Published: December 31, 2014: 7:10 AM ET

19.33 | 0 komentar | Read More

Up close with the New Year's Eve ball

Behold the official Waterford Crystal New Year's Eve ball at its home atop One Times Square in New York City.

NEW YORK (CNNMoney)

Over the last few days, engineers have been hard at work preparing for showtime. Electrical lines have been hooked up, lights have been tested and new crystal panels have been attached to its exterior. On New Year's Eve, one very special button will release the ball and it will fall down a 120-foot pole for 60 seconds, marking the beginning of 2015.

"It's a gift to the world," said Regan Iglesia, the global brand director for Waterford, the crystal company that has been outfitting the ball since 1999.

Watched live by a million people in New York and on TV by over a billion around the world, the ball has been doing its yearly descent since 1907. And while the latest ball is covered in Waterford crystal, the first one was smaller, made of iron and had just 100 light bulbs on it. This one is much fancier and represents a year's worth of planning and work by Waterford.

Related: Prosecco: No longer the 'poor man's Champagne'?

The ball, which is 12 feet in diameter, has 2,688 crystal panels. Every year, some of them are switched out with a new design; this year there are 288 new panels, which are about the size of a large coaster. This year's theme is the "Gift of Fortitude," which Iglesia said signifies the strength of the human spirit.

About 32,000 LED lights adorn the ball. They randomly change color every few minutes and can make 16 million different combinations. The lights aren't pre-programmed, so nobody knows for sure what the ball will look like at midnight on New Year's Eve.

During a preview, I watched the ball change from blue and white to rainbow to red and green stars to a red and white kaleidoscope pattern. (I also saw a rather excited guest lick one of the panels. 'Tis the season!)

"It looks like a large, breathing orb," Iglesia said.

Related: Why cook a gourmet meal when you can defrost it?

The ball sits on top of a building that houses a Walgreens drugstore. It isn't much to look at, but don't let that fool you -- it has been specially reinforced to bear the ball's 12,000 pounds. There's a clear view of the city from the top, which Iglesia compared to the view of Moses parting the Red Sea.

He said he couldn't put a price on the ball's worth or how much it costs the company every year. Given that a pair of Waterford wine glasses can cost $150, we're betting it isn't cheap.

"We just say it's priceless," he said.

First Published: December 30, 2014: 6:32 AM ET

21.29 | 0 komentar | Read More

Russian banks starved for cash as funding crisis worsens

LONDON (CNNMoney)

The country's financial sector is under tremendous stress from the plunging value of its currency combined with Western sanctions imposed over Russia's actions in Ukraine.

Starved of international funding sources, Russian banks are finding it tough to lend to local companies, threatening to hurt the country's already fragile economy.

Related: Russian economy shrinks for the first time since 2009

Last week midsize lender Trust Bank collapsed and authorities rushed to its aid. The Russian central bank will provide up to 99 billion rubles ($1.7 billion) in loans to prop up the institution. It will also lend about $470 million to the bank that is overseeing the bailout of Trust.

Finance minister Anton Siluanov said the government would also boost capital to state-owned banks VTB and Gazprombank. VTB is one of the country's biggest lenders.

But Russian banks will need even more support. Western sanctions enforced over the Ukraine crisis have cut Russian companies off from European and U.S. funding sources.

"Banks need to provide finance to companies that are under sanctions or are unable to go to capital markets," said Sergey Voronenko, associate director at Standard & Poor's. So the banks will demand more help from the government, he said.

The rate at which banks lend to each other for short periods, known as the interbank lending rate, has spiked in Russia. Overnight rates are around 18%, which shows that even financial institutions are wary of lending to each other -- intensifying their reliance on government handouts.

Voronenko said banks and large corporations will need to refinance to repay almost $100 billion in foreign debt next year.

The depreciating ruble is making that extremely difficult. The currency has lost about 40% of its value against the U.S. dollar this year, leading some foreign companies to halt sales of their products in Russia.

Related: Russia's crisis hurts these Western brands the most

It's also prompted Russians to pull money out of their bank accounts. Voronenko said there's been "panic-driven deposit outflow" in December and Russia banks could face even tougher and more unpredictable operating conditions in 2015.

So far this year the Russian central bank has burned through more than $110 billion in foreign currency reserves to help prop up the ruble.

The economy contracted for the first time since 2009 in November and the country - which relies heavily on energy export revenues - is on track for a much sharper slowdown next year if oil prices remain low.

Still, Berenberg chief economist Holger Schmieding is confident Russia can prevent a systemic banking crisis even if there is capital flight given current circumstances.

He believes the government has the means to recapitalize banks and help companies meet foreign debt obligations.

However, he said that to ward off a serious recession, Russia has to act to lift sanctions.

"The only thing Russia could do to ease a [deep] recession and to prevent further massive capital flight is to retreat from Ukraine," said Schmieding.

Related: Russia's debt closer to junk status

First Published: December 30, 2014: 5:08 AM ET

21.29 | 0 komentar | Read More

Hackers recreate fingerprints using public photos

Hackers recreated the thumbprint of German Minister of Defense Ursula von der Leyen using several news photos.

NEW YORK (CNNMoney)

At a cybersecurity convention in Hamburg last week, the "Chaos Computer Club" demonstrated how it can mimic a fingerprint just by analyzing photographs.

Fingerprints have been recreated from smudges on windows and other smooth surfaces. In the past, forgers have used tape, a scanner, some plastic material and glue to build a gummy fingerprint that can fool scanners.

But the Chaos Computer Club says this is the first time fingerprints have been spoofed from afar. The group's leader, known as "Starbug," said he was able to recreate the thumbprint of the German Minister of Defense Ursula von der Leyen, from several news photos.

The hack isn't terribly complicated, but it's also not something most people would have the patience or ability to pull off. Starbug printed the fingerprint from the photos onto tracing paper, copied it onto a plastic board, covered it in graphite and made a dummy print by coating the plastic in wood glue.

Not easy. Still he made a dummy fingerprint from a photo. Impressive.

Related: iPhone encryption stops FBI, but not this 7-year old

In one demonstration, the dummy print was able to trick Apple's (AAPL, Tech30) TouchID (which controls Apple Pay).

"There will be no need to steal objects carrying the fingerprints anymore," the group said in a preview of the event. "After this talk, politicians will presumably wear gloves when talking in public."

The Club said the presentation calls into question the validity of fingerprint security systems. It would be difficult to do anything useful with the German Defense Minister's fingerprints, but you could use the hacking method to get into your friend's iPhone.

Related: Researchers claim to hack fingerprint sensor on Samsung Galaxy S5

Related: iPhone fingerprint scanner will start security revolution

First Published: December 30, 2014: 8:00 AM ET

21.29 | 0 komentar | Read More

Russian banks starved for cash as funding crisis worsens

LONDON (CNNMoney)

The country's financial sector is under tremendous stress from the plunging value of its currency combined with Western sanctions imposed over Russia's actions in Ukraine.

Starved of international funding sources, Russian banks are finding it tough to lend to local companies, threatening to hurt the country's already fragile economy.

Related: Russian economy shrinks for the first time since 2009

Last week midsize lender Trust Bank collapsed and authorities rushed to its aid. The Russian central bank will provide up to 99 billion rubles ($1.7 billion) in loans to prop up the institution. It will also lend about $470 million to the bank that is overseeing the bailout of Trust.

Finance minister Anton Siluanov said the government would also boost capital to state-owned banks VTB and Gazprombank. VTB is one of the country's biggest lenders.

But Russian banks will need even more support. Western sanctions enforced over the Ukraine crisis have cut Russian companies off from European and U.S. funding sources.

"Banks need to provide finance to companies that are under sanctions or are unable to go to capital markets," said Sergey Voronenko, associate director at Standard & Poor's. So the banks will demand more help from the government, he said.

The rate at which banks lend to each other for short periods, known as the interbank lending rate, has spiked in Russia. Overnight rates are around 18%, which shows that even financial institutions are wary of lending to each other -- intensifying their reliance on government handouts.

Voronenko said banks and large corporations will need to refinance to repay almost $100 billion in foreign debt next year.

The depreciating ruble is making that extremely difficult. The currency has lost about 40% of its value against the U.S. dollar this year, leading some foreign companies to halt sales of their products in Russia.

Related: Russia's crisis hurts these Western brands the most

It's also prompted Russians to pull money out of their bank accounts. Voronenko said there's been "panic-driven deposit outflow" in December and Russia banks could face even tougher and more unpredictable operating conditions in 2015.

So far this year the Russian central bank has burned through more than $110 billion in foreign currency reserves to help prop up the ruble.

The economy contracted for the first time since 2009 in November and the country - which relies heavily on energy export revenues - is on track for a much sharper slowdown next year if oil prices remain low.

Still, Berenberg chief economist Holger Schmieding is confident Russia can prevent a systemic banking crisis even if there is capital flight given current circumstances.

He believes the government has the means to recapitalize banks and help companies meet foreign debt obligations.

However, he said that to ward off a serious recession, Russia has to act to lift sanctions.

"The only thing Russia could do to ease a [deep] recession and to prevent further massive capital flight is to retreat from Ukraine," said Schmieding.

Related: Russia's debt closer to junk status

First Published: December 30, 2014: 5:08 AM ET

19.33 | 0 komentar | Read More

Stocks: 4 things to know before the open

Click chart for in-depth premarket data.

LONDON (CNNMoney)

Here are the four things you need to know before the opening bell rings in New York:

1. Futures stumble: U.S. stock futures are pointing to a soft start as the price of oil continues to fall.

Crude oil futures are trading below $53 a barrel as worries about a global supply glut resurface.

Energy stocks, including Transocean (RIG), were under pressure in premarket trading.

Oil prices have nearly halved this year on concerns about elevated supplies and weak global demand, and this has dented investor confidence over the past few months.

Related: Fear & Greed Index

2. International markets: It's a sea of red across global markets.

European markets are losing ground in early trading as investors consider the potential consequences of an upcoming election in Greece. Stocks in Athens were down slightly.

Major Asian markets closed lower. Japan's Nikkei index dropped 1.6% on its final trading day of the year, while Hong Kong's Hang Seng closed with a loss of 1.1%.

Related: Japan's stock market peaked 25 years ago

3. Economic updates: The Case-Shiller 20-city index, which measures the health of the U.S. housing market, will be released at 9 a.m. ET.

The Conference Board's consumer confidence index comes out at 10 a.m.

4. Monday market recap: Stocks were little changed Monday -- with the Dow Jones industrial average down 0.1%, the S&P 500 up 0.1% and the Nasdaq steady -- but the indexes remain on track to post healthy gains for 2014. The Dow and S&P indexes are currently trading near record highs.

First Published: December 30, 2014: 5:06 AM ET

19.33 | 0 komentar | Read More

Up close with the New Year's Eve ball

Behold the official Waterford Crystal New Year's Eve ball at its home atop One Times Square in New York City.

NEW YORK (CNNMoney)

Over the last few days, engineers have been hard at work preparing for showtime. Electrical lines have been hooked up, lights have been tested and new crystal panels have been attached to its exterior. On New Year's Eve, one very special button will release the ball and it will fall down a 120-foot pole for 60 seconds, marking the beginning of 2015.

"It's a gift to the world," said Regan Iglesia, the global brand director for Waterford, the crystal company that has been outfitting the ball since 1999.

Watched live by a million people in New York and on TV by over a billion around the world, the ball has been doing its yearly descent since 1907. And while the latest ball is covered in Waterford crystal, the first one was smaller, made of iron and had just 100 light bulbs on it. This one is much fancier and represents a year's worth of planning and work by Waterford.

Related: Prosecco: No longer the 'poor man's Champagne'?

The ball, which is 12 feet in diameter, has 2,688 crystal panels. Every year, some of them are switched out with a new design; this year there are 288 new panels, which are about the size of a large coaster. This year's theme is the "Gift of Fortitude," which Iglesia said signifies the strength of the human spirit.

About 32,000 LED lights adorn the ball. They randomly change color every few minutes and can make 16 million different combinations. The lights aren't pre-programmed, so nobody knows for sure what the ball will look like at midnight on New Year's Eve.

During a preview, I watched the ball change from blue and white to rainbow to red and green stars to a red and white kaleidoscope pattern. (I also saw a rather excited guest lick one of the panels. 'Tis the season!)

"It looks like a large, breathing orb," Iglesia said.

Related: Why cook a gourmet meal when you can defrost it?

The ball sits on top of a building that houses a Walgreens drugstore. It isn't much to look at, but don't let that fool you -- it has been specially reinforced to bear the ball's 12,000 pounds. There's a clear view of the city from the top, which Iglesia compared to the view of Moses parting the Red Sea.

He said he couldn't put a price on the ball's worth or how much it costs the company every year. Given that a pair of Waterford wine glasses can cost $150, we're betting it isn't cheap.

"We just say it's priceless," he said.

First Published: December 30, 2014: 6:32 AM ET

19.33 | 0 komentar | Read More

Did China pull the plug on Gmail?

Gmail activity has flatlined in China. Is the Great Firewall to blame?

NEW YORK (CNNMoney)

Gmail traffic in China tumbled to near zero on Dec. 26 and hasn't budged since, according to Google's transparency report.

Dyn Research, a group of scientists that reports on Internet issues, tweeted that the Chinese government had deliberately blocked Gmail in China, according to its analysis. The research group also said that "blocks" of Google served from Hong Kong have shut down throughout the country.

Google (GOOGL, Tech30) and China have had a testy relationship since 2010, when Google pulled its business out of the country. Google's websites are no longer served in China; instead, its servers reside in Hong Kong, which is not subject to the same censorship laws that the rest of China is.

Google's move to Hong Kong forces China to actively censor or block Google content for its citizens -- something Google said it was no longer willing to do four years ago. Google search, YouTube, photos and maps have all experienced major outages and service disruptions this year, according to Google's transparency report.

This could be latest sign of China's ruling Communist Party exerting its influence on Hong Kong. In recent months, Hong Kong erupted into violent pro-democracy protests.

Related: Why North Korea's economy can't live without China

China's ruling Communist Party has for decades operated a massive censorship project called the Great Firewall of China. Social media platforms including Facebook (FB, Tech30) and Twitter (TWTR, Tech30) are banned, and thousands of websites cannot be accessed from inside China.

Internet stability in the region has been a bit shaky. China's neighbor North Korea lost its Internet connection and went dark on Dec. 22. It was unclear whether the country suffered a massive power outage, or got unplugged by an outside entity.

That came after the FBI accused the North Korean government of hacking Sony Pictures for revenge over its movie "The Interview," which depicts the fictional assassination of Kim Jong Un. The North Korean government denied the allegations.

First Published: December 29, 2014: 7:55 AM ET

21.29 | 0 komentar | Read More

Time is running out for RadioShack

NEW YORK (CNNMoney)

The company is saddled with more than 5,000 stores, many of which it can't afford to keep open.

Unfortunately for Radio Shack, the company is so cash-strapped that it can't afford to close them, either.

Closing stores is an expensive undertaking. It requires cash for paying severance, liquidating merchandise and paying penalties to exit leases early.

Management announced a plan earlier this year to close about 1,100 stores, but it has only been able to come up with enough cash to close 175 stores through the end of October. It is currently battling with its lenders to get the green light to close more stores.

Once upon a time RadioShack (RSH) bragged about its network of stores, saying that 90% of the U.S. population lives or works within a few minutes of a RadioShack location. But today, when people can easily order the items online, those brick-and-mortar stores are dead weight. The stores are so close to one another they are essentially completing with themselves and are dragging the company down to its third-straight year of losses.

As sales have plunged in recent years, losses mounted. It burned through all but $43 million of its cash as of Nov. 1, down from the nearly $300 million it had a year ago.

Even counting its credit lines it only had $63 million available heading into the Christmas shopping season. It needs $100 million in combined cash and available credit by Jan. 15 or its major creditors can pull the plug on the long-term financing it needs to survive.

The company's own Super Bowl ad early this year poked fun at how its hopelessly out of date its stores are. But like much else at the chain, it hasn't had the funds it needed to update those stores.

Jennifer Warren, the chief marketing officer behind that ad campaign, left the company for another job a week before Christmas. The company also lost its chief financial officer in September and has two different outside consultants holding that key job as it tried to negotiate new deals with lenders.

RadioShack goes back to 1921, when it opened a store and mail-order operation in Boston to serve the needs of radio officers aboard ships. It was bought in 1963 by the Tandy Corporation, a retailer that had started as a supplier of leather shoe parts to shoe repair shops.

Related: Wireless war: Consumers win, investors lose

For a time it prospered from Americans' growing love affair with technology, introducing one of the first mass-market personal computers, the TRS-80, in 1977, and one of the first laptops, the Model 100, in 1983. It also was an early seller of both cell phones and satellite television systems.

"Up until the early 2000's, they were riding tremendous momentum, and they kept opening more and more stores," said Robin Lewis, a retail expert and co-author of The New Rules of Retail . "They didn't understand how a lot of their business could be taken away by Amazon (AMZN, Tech30). And even if they had time and money to close stores, they haven't done enough to differentiate themselves from other places you can buy a smartphone."

First Published: December 29, 2014: 6:21 AM ET

21.29 | 0 komentar | Read More

Get ready for a new Greek drama

Polls show the anti-austerity party Syriza could win the most voter support during upcoming elections in Greece.

LONDON (CNNMoney)

The need for snap elections was triggered Monday after Greece's parliament was unable to secure enough votes to install a new president.

The main Greek stock market index plunged by as much as 11% after the voting results came out, but then recovered slightly. The main indexes in Spain and Italy also dipped by about 2%.

The yield on Greek 10-year government bonds jumped by one percentage point to 9.3%, reflecting growing concern that Greece may be heading for another debt crisis.

Opinion polls indicate the popular anti-austerity party -- Syriza -- could win the most voter support at the upcoming elections. This is a party that wants to renegotiate the terms of Greece's 240 billion euro ($293 billion) bailout package with the International Monetary Fund, European Commission and European Central Bank.

The party has also vowed to reverse many of the reforms that have helped Greece return to economic growth, and said it plans to introduce billions in spending programs that would hike wages and increase pensions.

While Syriza's plans are popular among Greeks who have been hurting from high unemployment and years of recession, experts say they are unrealistic and irresponsible and could trigger a crisis that would ultimately lead to Greece leaving the eurozone.

However, Syriza has been softening its tone recently and says it wants to stay in the eurozone.

Greece's massive bailouts from 2010 and 2012 kept the country afloat and within the eurozone, but left it saddled with a mountain of debt worth about 170% of GDP.

Despite the risks presented by the current situation in Greece, experts think the eurozone is now better placed to cope with another Greek crisis.

"The eurozone could probably handle an unlikely but not impossible Greek accident with no more than very limited and temporary damage," said Berenberg economist Holger Schmieding in a research note written earlier this month.

James Shugg, a senior economist at Westpac in London, echoed this sentiment.

European leaders are much better prepared to deal with a potential Greek fallout, said Shugg.

"This is not the beginning of [another] euro sovereign debt crisis," he said.

The upcoming Greek elections are expected to be held on January 25.

-- CNN's Elinda Labropoulou in Athens contributed to this report.

First Published: December 29, 2014: 6:35 AM ET

21.29 | 0 komentar | Read More

Coming in 2015: Uber and Airbnb IPOs?

NEW YORK (CNNMoney)

But 2015 may wind up being an even bigger year for high-profile IPOs.

Controversial ride sharing app Uber could be a monstrous hit on Wall Street if the company decides to go public.

Bad publicity about drivers, tone-deaf comments from executives and mounting legal woes have yet to make a dent in Uber.

The company is already worth more than $40 billion based on its last round of financing. Chinese search engine Baidu (BIDU, Tech30) recently invested in Uber. And Uber is already rumored to be generating about $2 billion in net revenue a year.

Related: It's time for disruptive tech firms like Uber to grow up

Uber is just one of 42 private companies highlighted by venture capital database CB Insights as having likely valuations of at least $1 billion that could be considered IPO candidates for 2015.

Real estate rental site Airbnb, whose rumored valuation of $13 billion makes it worth more than well-known hotel chains Wyndham (WYN), Holiday Inn owner InterContinental Hotels (IHG) and Hyatt (H), is another.

So are cloud storage services Box (which has already filed for an IPO) and Dropbox, social media site Pinterest and payment services companies Square and Stripe.

Snapchat, with a reported value of $10 billion is also being viewed as a hot IPO contender. It's ironic that the app known for disappearing images, videos and text messages may have to enter its finances in a public document that can never be erased.

SpaceX, the rocket company founded by Tesla (TSLA) CEO and SolarCity (SCTY) chairman Elon Musk, also made the CB Insights list. (Three Elon-related stocks could make up a new MUSK ETF!)

Related: Boeing and SpaceX both land NASA contracts

So did Vice Media, the edgy content creator that has the backing of Rupert Murdoch's Fox (FOXA) and A&E Networks.

But it's worth noting that tech IPOs aren't the only ones that are likely to attract big interest.

While Alibaba (BABA, Tech30) and wearable camera company GoPro (GPRO) generated the most buzz among average investors, they were not the top IPOs of 2014.

In fact, several small biotechs were the best IPO performers of 2014 according to Renaissance Capital, a firm that researches and invests in IPOs.

There was strong demand for IPOs in many sectors. Renaissance said that 273 companies went public in 2014. That's the most since the 403 IPOs during 2000 -- the last days of the dot-com boom.

Related: Burger mania hits Wall Street

Restaurant stocks also enjoyed a lot of success this year.

Burger joint Habit (HABT), Mediterranean food chain Zoe's Kitchen (ZOES) and grilled chicken restaurant El Pollo Loco (LOCO) all soared in their market debuts.

With that in mind, Renaissance predicts that Shake Shack, Smashburger and Brazilian steakhouse chain Fogo de Chão could all file for IPOs soon.

It seems like investors are all hungry for the next big restaurant phenomenon like Chipotle (CMG).

So don't be surprised if some of the hottest offerings of 2015 wind up coming fresh out of the oven ... and not Silicon Valley.

First Published: December 29, 2014: 6:19 AM ET

19.33 | 0 komentar | Read More

Time is running out for RadioShack

NEW YORK (CNNMoney)

The company is saddled with more than 5,000 stores, many of which it can't afford to keep open.

Unfortunately for Radio Shack, the company is so cash-strapped that it can't afford to close them, either.

Closing stores is an expensive undertaking. It requires cash for paying severance, liquidating merchandise and paying penalties to exit leases early.

Management announced a plan earlier this year to close about 1,100 stores, but it has only been able to come up with enough cash to close 175 stores through the end of October. It is currently battling with its lenders to get the green light to close more stores.

Once upon a time RadioShack (RSH) bragged about its network of stores, saying that 90% of the U.S. population lives or works within a few minutes of a RadioShack location. But today, when people can easily order the items online, those brick-and-mortar stores are dead weight. The stores are so close to one another they are essentially completing with themselves and are dragging the company down to its third-straight year of losses.

As sales have plunged in recent years, losses mounted. It burned through all but $43 million of its cash as of Nov. 1, down from the nearly $300 million it had a year ago.

Even counting its credit lines it only had $63 million available heading into the Christmas shopping season. It needs $100 million in combined cash and available credit by Jan. 15 or its major creditors can pull the plug on the long-term financing it needs to survive.

The company's own Super Bowl ad early this year poked fun at how its hopelessly out of date its stores are. But like much else at the chain, it hasn't had the funds it needed to update those stores.

Jennifer Warren, the chief marketing officer behind that ad campaign, left the company for another job a week before Christmas. The company also lost its chief financial officer in September and has two different outside consultants holding that key job as it tried to negotiate new deals with lenders.

RadioShack goes back to 1921, when it opened a store and mail-order operation in Boston to serve the needs of radio officers aboard ships. It was bought in 1963 by the Tandy Corporation, a retailer that had started as a supplier of leather shoe parts to shoe repair shops.

Related: Wireless war: Consumers win, investors lose

For a time it prospered from Americans' growing love affair with technology, introducing one of the first mass-market personal computers, the TRS-80, in 1977, and one of the first laptops, the Model 100, in 1983. It also was an early seller of both cell phones and satellite television systems.

"Up until the early 2000's, they were riding tremendous momentum, and they kept opening more and more stores," said Robin Lewis, a retail expert and co-author of The New Rules of Retail . "They didn't understand how a lot of their business could be taken away by Amazon (AMZN, Tech30). And even if they had time and money to close stores, they haven't done enough to differentiate themselves from other places you can buy a smartphone."

First Published: December 29, 2014: 6:21 AM ET

19.33 | 0 komentar | Read More

Get ready for a new Greek drama

The anti-austerity party Syriza is expected to win the most voter support during upcoming elections in Greece.

LONDON (CNNMoney)

The need for snap elections was triggered Monday after Greece's parliament was unable to secure enough votes to install a new president.

The main Greek stock market index was down by about 8.5% after the results of the vote came out.

Opinion polls indicate the popular anti-austerity party -- Syriza -- could win the most voter support at the upcoming elections. This is a party that wants to renegotiate the terms of Greece's 240 billion euro ($293 billion) bailout package with the International Monetary Fund, European Commission and European Central Bank.

The party has also vowed to reverse many of the reforms that have helped Greece return to economic growth, and said it plans to introduce billions in spending programs that would hike wages and increase pensions.

While Syriza's plans are popular among Greeks who have been hurting from high unemployment and years of recession, experts say they are unrealistic and irresponsible and could trigger a crisis that would ultimately lead to Greece leaving the eurozone.

However, Syriza has been softening its tone recently and says it wants to stay in the eurozone.

Greece's massive bailouts from 2010 and 2012 kept the country afloat and within the eurozone, but left it saddled with a mountain of debt worth about 170% of GDP.

Despite the risks presented by the current situation in Greece, experts think the eurozone is now better placed to cope with another Greek crisis.

"The eurozone could probably handle an unlikely but not impossible Greek accident with no more than very limited and temporary damage," said Berenberg economist Holger Schmieding in a research note written earlier this month.

First Published: December 29, 2014: 6:35 AM ET

19.33 | 0 komentar | Read More

Housing 2015: The return of first-time home buyers

NEW YORK (CNNMoney)

With rents rising faster than incomes, many Millennials are expected to start looking to buy homes of their own.

What they will find are much more favorable conditions than they have seen in years, including lower down payment mortgages, looser lending standards and a bigger selection of homes to choose from.

Here are four housing market trends economists and other industry experts expect to see in the year ahead.

1. Looser lending standards

Conspicuously absent from the housing market over the past five years have been first-time home buyers.

But in early December, Fannie Mae and Freddie Mac put new lending guidelines in place and started offering 3% down payment mortgages that will make it easier for more first-time buyers to qualify for a mortgage.

Add to that a strengthening job market, and prospects look much brighter for young home buyers.

"It's already begun that Millennials are going back into the market," said Mark Zandi, chief economist for Moody's Analytics.

According to the Mortgage Bankers Association, sales of new homes are expected to climb by more than 13% in 2015, while existing home sales are expected to increase by 5%.

A spike in the number of first-time home buyers should spark a chain reaction by enabling existing homeowners to sell their homes and buy more expensive ones, said Zandi.

2. There will be more homes to choose from

Builders are ramping up production of smaller homes to accommodate these new entry-level buyers, said Stan Humphries, chief economist for Zillow.

Homebuilder D.R. Horton formed Express Homes, to build no-frills homes ranging in price from $120,000 to $150,000, about half the average price of the homes it normally builds. Other builders, like LGI Homes and KB Homes are also targeting first-time buyers.

3. Home prices will become more affordable

With so many new homes slated to come onto the market, the supply is expected to loosen up and take some pressure off of home prices. That should improve affordability in some of the more out-of-reach metro area markets like Washington, D.C., San Jose, Calif., and Seattle.

Related: 10 hottest housing markets for 2015

Plus, says Robert Shiller, the Nobel-Prize winning economist and co-founder of the S&P/Case-Shiller home price index, "home prices look somewhat expensive." In fact, he thinks a decline in home prices is a "distinct possibility."

Other economists expect to see small gains.

Jed Kolko expects increases, but only in low single-digit percentages because there will be fewer big institutional investors buying up properties and propping up prices.

4. Mortgage rates will move higher -- at some point

If there's any single market trend that real estate industry pros have gotten consistently wrong lately, it's the direction of mortgage rates. But most do expect rates to rise at some point in 2015.

Related: Getting a mortgage is about to get easier

In December, the Federal Reserve signaled that it would not raise the Federal Funds rate until the summer of 2015 or perhaps even later.

Keith Gumbinger of HSH.com, a mortgage information provider, expects mortgage rates to peak next year at about 4.75% for a 30-year fixed rate mortgage. He doesn't see rates rising much beyond 5%, which would still be "very favorable rate, historically."

Khater doesn't even expect rates to go that high. He predicts rates to top out at 4.5%, which should do little to affect buyers. An increase to 4.5% from the current 4% adds about $60 a month to mortgage payments on a loan with a principal balance of $200,000.

First Published: December 28, 2014: 8:14 AM ET

21.29 | 0 komentar | Read More

Ex-NFL star: 'I had to start over and pick up the pieces'

Former Atlanta Falcons running back T.J. Duckett struggled to find his way after leaving the NFL but now he's running his own nonprofit.

NEW YORK (CNNMoney)

Like many players, the former Atlanta Falcons running back realized that devising a game plan for life after the NFL can be very challenging.

"I didn't really know where I was headed or what I was doing," Duckett told CNNMoney.

"As a kid, I had a dream and was blessed to reach that dream and live that dream. Afterwards, I had to start over and pick up the pieces," said Duckett, who was drafted by the Falcons in 2002.

Related: How to re-invent yourself at any age

Two-year funk: Duckett effectively put his 254-lb. frame to use as the power runner behind faster backs like Warrick Dunn and Shaun Alexander.

He didn't make Peyton Manning money, but his last contract, with the Seattle Seahawks in 2008, included $4 million in guaranteed money.

When he retired in 2009 and moved back to Michigan, Duckett initially stepped up his role at the janitorial supplies and facilities management company he co-owns with his brother. While it sounded appealing at first, Duckett, who now goes by "Todd," quickly concluded he wasn't passionate about it.

That's when a two-and-a-half year depression set in. Duckett, 33, experimented in different business areas and eventually emerged from his funk with a new passion for volunteering and community service.

"I dug into my spirit and who I was. I came out of that realizing life to me is about serving people and helping the community," he said.

Related: The perks of taking a sabbatical

Turkey giveways, cancer fundraisers: Feeling re-energized, in 2011 Duckett launched New World Flood, a volunteer organization aimed at encouraging people to contribute their time, talent and resources to help those who are less fortunate. The nonprofit says its purpose is to "flood the world with service!"

Last month, New World Flood distributed over 1,000 frozen turkeys and trimmings to families in Lansing and Kalamazoo -- the region of Michigan where Duckett grew up and went to college at Michigan State.

Duckett's organization also launched the Jacquelyn Barham Challenge, a fundraiser that raises awareness about life-threatening illnesses by shaving heads and beards. The challenge is named after his mother, who died in 2000 after fighting lymphatic cancer for six years.

$100K raised: All told, New World Flood has raised at least $100,000 that's funded various projects, including giving away backpacks to students and supporting a school in Tanzania.

In addition to donating his time salary-free, Duckett has sunk a lot of his own money into the organization to make sure all fundraising targets are met.

"We've set goals. Whatever we didn't raise, I would always fill in the extra," he said.

Duckett currently makes a living through his investment in the janitorial company and a t-shirt printing venture he launched that caters to nonprofits.

Related: How young tech millionaires invest

Challenging transition: Duckett is hardly the only NFL player to initially struggle to develop a post-playing career. Players who grew accustomed to making millions of dollars a day suddenly have to adapt to a more modest lifestyle.

"The biggest fear is that players are going to go broke and drift into the night and be forgotten about," he said. "I definitely had to cut back. Things change. That's a different place."

Related: NFL players warn rookies: Stop spending so much!

That's one reason why in 2011 the NFL players union launched The Trust, a group that provides career transition, financial and health services to former players.

"We really try to form resources around common challenges that we know former players face when they leave the NFL," said Bahati VanPelt, The Trust's executive director.

The Trust wasn't around to help Duckett during his earlier struggles. But today it's helping him assess his needs and advising him on possibly going back to school.

"It helps with everything from trying to decide what business you want to get involved with to who you do business with," he said.

First Published: December 28, 2014: 8:12 AM ET

21.29 | 0 komentar | Read More

Growing government budgets could boost stocks

Better fiscal policy should make global investors happier in 2015.

NEW YORK (CNNMoney)

"Globally, we are starting to see a shift from fiscal drag to fiscal stimulus," wrote Jeff Kleintop, the chief global investment strategist at Charles Schwab, in 2015 outlook.

There are signs that the worst could be over even for Europe, where the sovereign debt crisis forced economies to endure a period of fiscal austerity.

And although things in the U.S. never got that bad, forced spending cuts at the state, local and federal level did take a toll on the economy. Even with a newly-elected Republican congress, most strategists don't foresee another government shutdown.

To be sure, fiscal policy isn't the same as monetary policy, which has been a major theme of the markets since the recession. The Federal Reserve and other central banks across the globe have unleashed unprecedented amounts of cash in order to stimulate flagging economies.

Still, Kleintop believes that in 2015 fiscal issues, rather than stimulus programs, will be the focus of investors' attention.

Related: Rising trend: Donating stock to charity

The rosier fiscal picture should be a boon to some of the nations with the biggest financial issues.

Europe and Japan: For example, Kleintop noted that the European Union last month said two of the continent's biggest economies, France and Italy, won't be required to hit previously agreed upon 2015 budget targets through tax increases and spending cuts.

Also in November, Jean-Claude Juncker, the EU's top official, unveiled a 300 billion euro spending plan aimed at jump-starting the European economy.

And in Japan, where the economy slipped into recession last quarter, a planned sales tax increase has been delayed. That's a relief for many investors, since the last boost in sales taxes wiped out second quarter growth as consumers drastically changed their spending patterns.

Related: Japan's Abe must deliver on economy after victory

American fiscal landscape: Despite the increased attention in Washington on shrinking the budget deficit through forced spending cuts and higher taxes, things are starting to look less dire, Kleintop said.

Kleintop pointed out that after being flat for the last five years, federal outlays have actually been rising in recent months. In October, spending was up 5.5%, he said.

The newly elected GOP congress could push to reduce spending, but David Lyon, CEO of Main Street Financial, doesn't think they'll make any drastic changes. If anything, they'll be more likely to try to lower taxes, which would be viewed as a positive by investors, he argued.

Furthermore, with elections coming up in 2016, many political analysts believe Republicans and the President may actually work together in an attempt to prove to voters that they can.

Long-term outlook: While the notion of better fiscal policy heading into the New Year is getting investors excited, it's probably best to take it with a grain of salt.

After all, Europe is far from out of the woods, with recession and deflation threatening many economies. Japan, for its part, still has the highest government debt in the world, and many analysts say the country needs to institute fundamental structural reforms if it wants to break out of its decade-long economic malaise.

Related: Why you should worry about Europe

Of course, some strategists would argue that looser fiscal policy is simply a series of short-term fixes in a long battle against economic weakness. But Lyon rejects that theme.

"At first glance, it's viewed as kicking the can down the road, but there's a method behind it," he said. "It's focused on putting the consumer in a place where their spending will increase in those parts of the world."

First Published: December 28, 2014: 8:20 AM ET

21.29 | 0 komentar | Read More

Time travel with Cuba's Frankenstein cars

NEW YORK (CNNMoney)

But she doesn't work for any government. Instead, she sells her photos of cars and trucks -- usually vehicles that have not yet been revealed to the public -- to car magazines and auto enthusiast web sites hungry for even a camouflaged glimpse of an upcoming model.

Generally speaking, automakers don't appreciate what she does.

But lately she's found a friendlier place to indulge her passion for automotive photography, a place where the cars are ancient and often decrepit but people are eager to show them off: Cuba.

New cars, in this communist country, which has been under a U.S. trade embargo since the early 1960s, are difficult and expensive to acquire. But passionate -- and largely impoverished -- owners have kept the now ancient American cars that were on the road before the embargo still rolling with a mixture of grit, ingenuity and whatever parts they can gather.

The cars are often hard to recognize after decades of repainting and modification, but there are some classics under all that body work.

"It might have 10 coats of house paint on it to keep the rust from spreading," Priddy said.

A lot of old American cars in Cuba, like this 1957 Ford Fairlane, are now used as taxi cabs.

In most cases these automobiles are, literally, a mere shell of what they used to be. While the body might be that of a 1957 Ford, the engine is more likely from a Mercedes-Benz (DDAIY) or a Peugeot. Even the body itself might even have been significantly changed. Cars are stretched for new roles as taxicabs. Roofs might have been cut off to turn hardtops into a convertibles.

Often, cars like this 1957 Chevrolet Bel Aire, have engines taken from later European cars.

Priddy went to Cuba in 2013 as part of a cultural exchange program and quickly became drawn to the island's time-warp car culture. She then organized a car-focused cultural exchange trip of her own earlier this year taking with her, among others, auto company executives, an automotive museum curator and a retired car magazine art director.

The emphasis is on keeping cars like this 1952 Chevrolet running not on keeping them in original condition.

The group visited Cuba's national car museum in Havana and spent a couple of days with members of the city's biggest car club.

Cars like this 1952 Buick are often passed down through families.

"They're so happy for people to have an interest in their cars," she said.

There are Russian, French and Asian cars on the roads of Havana, she said, and they're usually much newer than and in better shape than these American models, but it's clearly General Motors (GM), Ford (F) and Chrysler (FCAM) products for which people have the most affection.

This is a 1952 Plymouth but little of the original car may remain underneath.

"They love their American cars," she said.

This 1958 Ford Prefect was a model not sold in the United States.

Even though these cars are hardly in original condition, their owners are proud of the machines and the lengths to which they've gone to keep them running.

This 1951 Chevrolet has clearly been through some changes.

For the relative few who have real money to spend, American car parts can be had through couriers who buy the parts in the United States and simply bring them in their luggage on trips to Cuba.

In her normal professional life, Brenda Priddy takes photographs like this one of a Chevrolet Silverado being tested in the desert before it had been unveiled to the public.

So far, Priddy has taken over 50,000 photos of Cuba's cars and is planning another Cuban car tour later this year.

Related: Criminal's muscle car collection auctioned for $2.5 million

Related: 10 most expensive cars sold at Pebble Beach

Related: Most powerful American cars

Experts from Hagerty Insurance assisted with identifying the cars shown in these photographs.

First Published: December 26, 2014: 3:07 PM ET

19.33 | 0 komentar | Read More

New York City may ban Styrofoam cups

At issue in NYC is whether polystyrene, commonly known as Styrofoam, can be effectively recycled in a way that doesn't cost too much.

NEW YORK (CNNMoney)

Currently, most Styrofoam products used in the city end up in landfills.

At issue now is whether polystyrene, commonly known as Styrofoam, can be effectively recycled in a way that doesn't cost too much.

New York passed a law last year restricting the sale and use of cups, food containers and packing materials made out of polystyrene. It will apply to restaurants, coffee shops, food carts and various other establishments.

But the ban was put on hold to first give manufacturers and the city time to see if they can come up with a way to recycle the material.

If the city deems polystyrene recyclable, it will begin processing it at a recycling facility in Brooklyn.

If it decides it cannot be recycled, the ban is expected to go into effect in July.

A decision is expected soon.

A ban would put New York City in the same league as San Francisco, Seattle, San Jose and Portland, all of which have restrictions on Styrofoam containers.

Related: California bans plastic grocery bags

Dart Container, one of the leading makers of foam cups, counters that polystyrene can be recycled in an economically feasible and environmentally effective way.

Dart has proposed a plan that would guarantee that all of New York's foam products will be recycled for the next five years -- at no cost to city, according to a statement from Michael Westerfield, the company's director of recycling.

Westerfield added that businesses stand to gain "millions in revenue" by recycling polystyrene, though he did not elaborate on how the proposal would be funded.

Related: How green is your state?

However, critics disagree that recycling is a good option.

A study by the Natural Resources Defense Council found that there is no safe and cost-effective way to recycle polystyrene and that a ban is the only option.

In 2013, San Jose, California, found that polystyrene cannot be recycled because of its low market value and the risk of food contamination.

In pointing out the possibility of the upcoming ban, a recent Goldman Sachs (GS) report said it would be good news for Berry Plastics Group (BERY), which makes cups out of a material similar to polystyrene that is recyclable.

Dunkin' Donuts, the coffee and donut chain with many locations in the city, will likely be a big buyer of Berry's Versalite hot and cold cups, the report says.

Goldman estimates that Versalite could generate an additional $10 million in revenue next year for Berry Plastics.

The investment bank said its sources suggest that New York is likely to ban the use of foam containers sometime over the next 12 months.

First Published: December 27, 2014: 10:00 AM ET

19.33 | 0 komentar | Read More

Jim Beam born to Jack Daniels

Jim Beam Leathers was born on November 14, to Jack Daniels Leathers and Lydia Leathers.

NEW YORK (CNNMoney)

But for one Louisiana family, baby Jim Beam will fit in quite well. His father, Jack Daniels Leathers, 31, is also named after a stiff drink.

It's somewhat of a tradition for the family, he told the Houma Courier in Houma, Louisiana, earlier this week.

The day Leathers was born, his father happened to be drinking a glass of the well-known whiskey and suggested the name, Leathers told CNNMoney. His mother agreed, after calling a local store to double check the correct spelling. (His birth certificate actually reads: Jack Daniel's Leathers.)

And when Jack's own son was born on November 14, he wanted to keep booze in the family name.

"It builds character to be a little different," he said.

Fortunately his wife, Lydia Leathers, 23, thought it was a good idea. In fact, the couple discussed naming a son Jim Beam on their very first date.

And if more children come along, they already have some names on tap. Evan Williams, after the bourbon, for a boy, and Sherry if it's a girl.

Related: Why this whiskey costs $38,000 a bottle

Related: There's a black market for beer. And it's bad for drinkers

First Published: December 26, 2014: 4:41 PM ET

19.33 | 0 komentar | Read More

Natural gas prices plunge in mild winter

NEW YORK (CNNMoney)

The diminished demand has pushed prices below $3 per British thermal unit (BTU) on the futures market Friday for the first time since 2012. Prices are down about 33% since Thanksgiving.

"We don't have any weather," said Stephen Schork, an energy analyst and trader in Villanova, PA. "Natural gas is the most weather-sensitive commodity there is."

Schork added that government data released last week showed a growing surplus in natural gas supplies.

The U.S. Energy Information Administration estimated in October that residential fuel bills will fall 5% this winter as households use less natural gas for heating, compared with last year's unusually frigid temperatures (remember the Polar Vortex?)

Still, natural gas prices in the futures market aren't always indicative of what consumers pay.

That's because gas companies lock in prices for the commodity well in advance, to protect themselves from volatility in the market. In addition, some natural gas suppliers charge their customers a fixed rate, so those buyers won't see any difference in prices.

Roughly half of American households use natural gas for heating and cooking. The biggest factor in determining household heating costs is consumption.

U.S. consumers are enjoying lower energy prices across the board with oil and gasoline prices also tumbling to record lows.

Energy prices have been depressed in recent years amid a glut of supply from unconventional sources in the United States and Canada. The continued malaise of European and Asian economies has also kept global energy demand low and contributed to falling prices.

Related: $2 gas is becoming more widespread

Related: Is 2015 the year when the oil crisis ends?

First Published: December 26, 2014: 2:38 PM ET

19.34 | 0 komentar | Read More

Time travel with Cuba's Frankenstein cars

NEW YORK (CNNMoney)

But she doesn't work for any government. Instead, she sells her photos of cars and trucks -- usually vehicles that have not yet been revealed to the public -- to car magazines and auto enthusiast web sites hungry for even a camouflaged glimpse of an upcoming model.

Generally speaking, automakers don't appreciate what she does.

But lately she's found a friendlier place to indulge her passion for automotive photography, a place where the cars are ancient and often decrepit but people are eager to show them off: Cuba.

New cars, in this communist country, which has been under a U.S. trade embargo since the early 1960s, are difficult and expensive to acquire. But passionate -- and largely impoverished -- owners have kept the now ancient American cars that were on the road before the embargo still rolling with a mixture of grit, ingenuity and whatever parts they can gather.

The cars are often hard to recognize after decades of repainting and modification, but there are some classics under all that body work.

"It might have 10 coats of house paint on it to keep the rust from spreading," Priddy said.

A lot of old American cars in Cuba, like this 1957 Ford Fairlane, are now used as taxi cabs.

In most cases these automobiles are, literally, a mere shell of what they used to be. While the body might be that of a 1957 Ford, the engine is more likely from a Mercedes-Benz (DDAIY) or a Peugeot. Even the body itself might even have been significantly changed. Cars are stretched for new roles as taxicabs. Roofs might have been cut off to turn hardtops into a convertibles.

Often, cars like this 1957 Chevrolet Bel Aire, have engines taken from later European cars.

Priddy went to Cuba in 2013 as part of a cultural exchange program and quickly became drawn to the island's time-warp car culture. She then organized a car-focused cultural exchange trip of her own earlier this year taking with her, among others, auto company executives, an automotive museum curator and a retired car magazine art director.

The emphasis is on keeping cars like this 1952 Chevrolet running not on keeping them in original condition.

The group visited Cuba's national car museum in Havana and spent a couple of days with members of the city's biggest car club.

Cars like this 1952 Buick are often passed down through families.

"They're so happy for people to have an interest in their cars," she said.

There are Russian, French and Asian cars on the roads of Havana, she said, and they're usually much newer than and in better shape than these American models, but it's clearly General Motors (GM), Ford (F) and Chrysler (FCAM) products for which people have the most affection.

This is a 1952 Plymouth but little of the original car may remain underneath.

"They love their American cars," she said.

This 1958 Ford Prefect was a model not sold in the United States.

Even though these cars are hardly in original condition, their owners are proud of the machines and the lengths to which they've gone to keep them running.

This 1951 Chevrolet has clearly been through some changes.

For the relative few who have real money to spend, American car parts can be had through couriers who buy the parts in the United States and simply bring them in their luggage on trips to Cuba.

In her normal professional life, Brenda Priddy takes photographs like this one of a Chevrolet Silverado being tested in the desert before it had been unveiled to the public.

So far, Priddy has taken over 50,000 photos of Cuba's cars and is planning another Cuban car tour later this year.

Related: Criminal's muscle car collection auctioned for $2.5 million

Related: 10 most expensive cars sold at Pebble Beach

Related: Most powerful American cars

Experts from Hagerty Insurance assisted with identifying the cars shown in these photographs.

First Published: December 26, 2014: 3:07 PM ET

19.34 | 0 komentar | Read More

Jim Beam born to Jack Daniels

Jim Beam Leathers was born on November 14, to Jack Daniels Leathers and Lydia Leathers.

NEW YORK (CNNMoney)

But for one Louisiana family, baby Jim Beam will fit in quite well. His father, Jack Daniels Leathers, 31, is also named after a stiff drink.

It's somewhat of a tradition for the family, he told the Houma Courier in Houma, Louisiana, earlier this week.

The day Leathers was born, his father happened to be drinking a glass of the well-known whiskey and suggested the name, Leathers told CNNMoney. His mother agreed, after calling a local store to double check the correct spelling. (His birth certificate actually reads: Jack Daniel's Leathers.)

And when Jack's own son was born on November 14, he wanted to keep booze in the family name.

"It builds character to be a little different," he said.

Fortunately his wife, Lydia Leathers, 23, thought it was a good idea. In fact, the couple discussed naming a son Jim Beam on their very first date.

And if more children come along, they already have some names on tap. Evan Williams, after the bourbon, for a boy, and Sherry if it's a girl.

Related: Why this whiskey costs $38,000 a bottle

Related: There's a black market for beer. And it's bad for drinkers

First Published: December 26, 2014: 4:41 PM ET

19.34 | 0 komentar | Read More

'The Interview' makes $1 million at box office

NEW YORK (CNNMoney)

But it could potentially make a lot more money online, through $5.99 movie rentals and future sales to streaming services like Netflix (NFLX, Tech30).

The results of Wednesday's online release are not known, but if one million people rented it through YouTube, that's a cool $6 million. The movie was also made available on Google Play, Microsoft's Xbox video store and a special Sony (SNE) web site called SeeTheInterview.com.

Sony Pictures' unconventional release of the movie -- a plan that was cobbled together by necessity -- illustrates the tension in Hollywood between at-home and at-the-theater viewing. And it shows how the industry's money-making calculus could change in the future.

For a broad, star-powered picture like "The Interview," a big-tent release in 2,000 to 3,000 theaters is the top choice for a movie studio like Sony Pictures. It's the difference between a $1 million and a $10 million box office total.

But financiers and studios now have new options, as "The Interview" is demonstrating. When big movie theater chains shied away from the movie, Sony recruited digital distributors and a smattering of independently-owned theaters that usually play more highbrow fare.

Did its digital availability hurt physical sales? Not on Christmas: some of the 331 theaters that premiered the movie reported sellout crowds.

This gives weight to the argument that watching at home and watching in a theater are two different kinds of experiences.

As Rogen said on Twitter, "I need to say that a comedy is best viewed in a theater full of people, so if you can, I'd watch it like that." If watching online, he added, "call some friends over" to make it more like a theatrical screening.

But if theatrical interest in the movie subsides quickly, that could undercut the argument.

These sorts of debates about digital releases have been raging in Hollywood for some time now, spurred by experiments with online launches (some documentaries already come out on the Internet at the same time they do in theaters) and the desires of companies like Netflix to speed up the time between physical and digital premieres.

Major theater chains like AMC and Regal objected to Sony's plans for a digital "Interview" release, and that's part of the reason why Sony worked with independent theaters instead.

Exact data from the Christmas box office will come in later, but industry estimates of almost $1 million were subject to interpretation -- Variety called it "an impressive launch," while Deadline.com called it "decent" but "certainly not as jawdropping as the headlines the film has spurred."

Sony and its digital partners haven't released any rental data, but on Friday morning the movie remained the top-seller on YouTube and Google Play's movie rental sites.

First Published: December 26, 2014: 8:35 AM ET

21.29 | 0 komentar | Read More

'The Interview' illegally downloaded 750,000 times on Christmas

NEW YORK (CNNMoney)

There are thousands of people currently sharing the movie illegally on BitTorrent. On Christmas, about 750,000 people stole digital copies of "The Interview" by using the file-sharing software, according to piracy blog TorrentFreak.

BitTorrent is a peer-to-peer file sharing network, allowing people to upload, share and download content. Though there are legitimate purposes for the software, it is largely used as a way for people to host and download pirated movies and TV shows.

Sony (SNE) Pictures opted to release the movie digitally on Wednesday, a day before it hit theaters. That simultaneous digital and theatrical release concerned movie theater chain owners. They worried that making the movie available online would increase piracy and keep people from buying tickets.

But piracy did not appear to have much of an impact on movie theater attendance. "The Interview" had a very limited release: just 331 independently owned movie theaters opted to show the film, and many reported sell-out crowds on Thursday.

Related: For moviegoers, 'patriotic duty' to see 'The Interview'

"The Interview" also scored a lot of legal digital purchases as well. Though Sony said it would not provide the number of online streams, the movie soared to YouTube's No. 1 most-streamed movie on Christmas. "The Interview" also was available for streaming on Google (GOOGL, Tech30) Play, Microsoft's (MSFT, Tech30) Xbox and a special website set up by Sony.

"The Interview" has been downloaded on sites like TorrentButler thousands of times.

Those streaming options were only available for viewers in the United States. Though it's not knowable where the illegal streamers of "The Interview" reside, people in foreign nations will often download pirated movies when they are not available for purchase in their countries.

Until Wednesday, Sony had not made its plans to release the movie known. Most theater chains opted not to show the movie, citing hackers' threats of violence towards moviegoers on Christmas.

Related: BitTorrent offers to release 'The Interview'

That's why BitTorrent on Monday offered to host the movie -- an offer Sony never took up. The file-sharing network said it was a "safe way" for Sony to bring the film to audiences.

Ironically, hackers used the same BitTorrent software to distribute hacked Sony documents and emails. That got Sony into this mess in the first place.

First Published: December 26, 2014: 7:48 AM ET

21.29 | 0 komentar | Read More

Tesla set to upgrade range of original Roadster to 400 miles

NEW YORK (CNNMoney)

According to a tweet from Tesla CEO Elon Musk, the company is due to announce details Friday on how the Roadsters will be able to go almost 400 miles between charges. The current Roadsters can go about 245 miles between charges, according to Tesla (TSLA).

Tesla stopped production of the Roadster in January 2012, as it started to ramp up production of its very successful Model S. It sold only 2,150 of the two-seat Roadsters through the end of 2011, according to a company filing.

Related: Norwegians love Tesla more than Americans

The longer range appears to be possible through a new lithium battery pack upgrade. Musk also tweeted "Should mention that a battery pack upgrade is not coming soon for the Model S, but it obviously *will* happen long-term."

The Model S has a range of up to 306 miles for the 85 kilowatt-hour (kWh) battery version, or 244 miles for the smaller, less expensive 60 kWh battery. The Roadster had a 56 kWh battery.

First Published: December 26, 2014: 8:09 AM ET

21.29 | 0 komentar | Read More

Stocks: 4 things to know before the open

Click on the chart for more market data

LONDON (CNNMoney)

Here are the 4 things you need to know before the opening bell rings in New York:

1. Futures firm: U.S. stock futures were pointing to a positive open though a quiet session was expected to close out the shortened trading week.

On Wednesday, the Dow Jones industrial average inched higher to notch its second straight finish above 18,000. The S&P 500 closed relatively flat, and the tech-heavy Nasdaq gained 0.2%.

There are no major earnings due out Friday and no economic updates either.

Related: Fear & Greed Index

2. Oil rebounds: Crude oil ticked up in electronic trading Friday to trade above $56 a barrel. Oil prices have suffered sharp falls this year as a combination of abundant supplies, a strong U.S. dollar and weaker demand from Europe and Asia deterred buyers.

Related: Saudi Arabia: We'll never cut production

3. Ruble stabilizes: Russia's battered currency regained some poise Friday following a series of interventions by the government and central bank this week to halt a worsening financial crisis.

Related: CNNMoney's Tech30

4. International markets overview: Most markets in Europe and Asia remained closed for holidays. Chinese stocks were the standout in Asia, with the Shangahi Composite rallying 2.8%.

First Published: December 26, 2014: 5:40 AM ET

19.33 | 0 komentar | Read More

For moviegoers, 'patriotic duty' to see 'The Interview'

NEW YORK (CNNMoney)

Ever since the movie studio was crippled by a cyberattack on Nov. 24, it has been on the defensive. Last week, after hackers objecting to the content of "The Interview" threatened American moviegoers, Sony (SNE) canceled the movie's Christmas day release in 3,000 theaters from coast to coast.

But now the scandalous Seth Rogen comedy has been resurrected. Yesterday it went on sale on the Internet. Today it's coming out in 331 independently owned movie theaters, some of which have already reported sell-out crowds -- perhaps the best Christmas gift Sony could have wished for.

Rogen showed up at a midnight screening in Los Angeles to celebrate the movie's unlikely release. "If it wasn't for theaters like this and people like you, this wouldn't be" happening, Rogen said, adding an expletive for good measure.

Related: Sony Streams 'The Interview' online

A few hours later, the movie opened at the Cinema Village theater in the Greenwich Village neighborhood of New York City. Some of the film's fans waiting in line said "The Interview" wasn't just holiday entertainment, but a "patriotic duty" in defense of freedom of expression.

"It is a celebration of the constitution. It's very important to show that any idea can be expressed," said Willie Jasso, who was first in line.

The comedy, which has received mixed reviews, is about an assassination plot against the North Korean dictator Kim Jong-Un. It is widely believed that the cyberattack was partly related to North Korea's fury over the movie, which the country has called an "act of war" by the United States. Hackers invoked 9/11 in a Dec. 16 message warning Americans to stay away from theaters playing the movie.

But on Thursday morning the mood at Cinema Village was festive rather than fearful.

"It did not seem like a credible threat anyone could carry out, and now it's even less likely," said Mark Rosenzweig, another patron at the theater.

The FBI and local law enforcement have worked with movie theaters on steps to ensure security at screenings of the movie.

Top-selling movie rental on YouTube

While some movie buffs lined up on Christmas morning, many others shrugged off the release -- and that's a point that a spokesman for President Obama made in a statement on Wednesday.

"People can now make their own choices about the film, and that's how it should be," White House deputy press secretary Eric Schultz said.

So now the question becomes: how many people will really pay to see "The Interview?"

It's too soon to know how many tickets have been sold. And a Sony spokesman reaffirmed on Thursday morning that the company will not be releasing any immediate data about the number of online rentals.

The movie is available for a $5.99 rental through YouTube, Google (GOOGL, Tech30) Play, Microsoft's (MSFT, Tech30) Xbox video store, and a special web site set up by a startup called Kernel.

The sites do not provide video view counts for movie rentals, but on Thursday morning "The Interview" was listed as the No. 1 seller on YouTube and Google Play.

Related: Watching 'The Interview' online: absurdly amusing

Kernel said there was "tremendous demand" shortly after the 1 p.m. ET release on Wednesday.

"Tremendous" is the same word that Charles Roark, the owner of the Hollywood Cinema in Martinsville, Va., used to describe anticipation for "The Interview."

"We are one of only two theaters in Virginia to get the movie, and the phones have been ringing off the hook for advanced sales, as well as customers flooding the doors," he said, calling sales "more brisk than nearly any previous movie we've ever shown."

'Essential' for this movie to come out

The simultaneous physical and digital release plan was stitched together in recent days. It came over the objections of some of the big movie theater chain owners, which are reluctant to have movies rented on the Internet while they're still on big screens.

A spokesman for the National Association of Theater Owners declined to comment.

One of the chain owners' concerns is pirating, and sure enough, "The Interview" started to show up on illegal file-sharing websites by Wednesday night. The New York Times reported that a Chinese-subtitled version has the title translated as "Assassinate Kim Jon-un."

The smaller theaters that agreed to show the movie Thursday were aware of the digital distribution plan ahead of time.

Steve Mason, a co-owner of the Cinémas Palme d'Or in Palm Desert, Calif., said he had been requesting to show "The Interview" ever since the big movie chains backed away from plans to release it last week.

His cinema now has two showings of the movie on Thursday evening.

"Independent theaters are fearless. We are in it for the love of film," Mason said in an email to CNNMoney. "We would never back down from showing this movie or any other one."

Michael Lynton, the Sony Pictures CEO, sounded similarly confident in a video message to staff on Wednesday that was obtained by CNN.

"It was essential for our studio to distribute this movie, especially given the assault on our business and on our staff," Lynton said.

"This film represents our commitment to our filmmakers and free speech," he added. "While we couldn't have predicted the road this movie traveled to get to this moment, I am proud our fight was not for nothing, and that cybercriminals were not able to silence us."

Lynton also emphasized that "we continue to seek other partners and platforms to further expand the release."

Those other partners could be the big chains, or they could be digital distributors like Netflix (NFLX, Tech30).

A Sony spokesman declined to comment Thursday on reports that Netflix might stream the movie to its subscribers in the coming weeks or months.

--CNN's Pamela Brown and Rosa Flores contributed reporting.

First Published: December 25, 2014: 12:09 PM ET

19.33 | 0 komentar | Read More

Gas prices fall below $2 in Missouri

NEW YORK (CNNMoney)

On Thursday, the state became the first in five years to have a statewide average gas price below $2 a gallon.

AAA reported that Missouri's average price was $1.98 a gallon on Friday, down a penny from Christmas day. Price tracker GasBuddy.com was showing that the cheapest gas in the state was $1.75 a gallon at a station in Ste. Genevieve.

But cheap gas isn't limited to the Show Me state. There are six other states with statewide averages within a dime of the $2 mark, including Oklahoma, where the average price stood at $2.01 on Friday, as well as Kansas, Indiana, Texas, Ohio and Michigan. And there are 32 states where GasBuddy reports at least one gas station with a price below $2, up from only 13 states 10 days ago.

It was less than a month ago that a station in Oklahoma City was the only one in the nation with gas below $2.

Related: What's gas cost in your state?

The national average is now down to $2.32 a gallon, down 12 cents in just the last week, and nearly 50 cents in the last month. Friday marked the 92nd straight day that the price of a gallon of regular has fallen nationwide.

The plunge in oil prices is what's taking gas prices lower. The various types of crude have fallen by nearly 50% since the highs of earlier this year.

Weakening economies in Europe and Asia, as well as more fuel efficient vehicles worldwide, have all cut demand for gasoline. An increase in U.S. oil production, which made the nation the world's largest source of crude earlier this summer, has also pushed prices down, as has OPEC's refusal to cut production. Finally a strong dollar is also pushing prices lower.

First Published: December 26, 2014: 7:00 AM ET

19.33 | 0 komentar | Read More