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Featured Advisor



Kim Butler
President

Partners for Prosperity, Inc.

City:Mt. Enterprise

State: TX



BIOGRAPHY:
I have 20+ years of handling alternative investments in cash, growth and income for clients nationwide.  I strive to help my clients with all things financial in every way possible over the phone and the web.  I own an alpaca farm which I enjoy working during my downtime.  I also enjoy gardening, writing and reading books.  I also train other advisors on Prosperity Economics.

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News for the Investor on July 20, 2015

A Marvel-ous weekend for "Ant-Man," the Monday re-opening of Greece's banks, and an unprecedented apology from Mitsubishi to World War II vets top our roundup of the day's top business news stories.

 

“Ant-Man” Bugs the Competition at Box Office

With $58 million in its opening weekend, “Ant-Man” became the 12th Marvel movie to open No. 1 at the box office.  Universal Pictures has three films in the top five, including second place “Minions,” which earned $50.2 million, the R-rated comedy “Trainwreck” starring Amy Schumer, which grossed $30.2 million, and “Jurassic World,” which came in fifth with $11.4million. Pixar’s “Inside Out” finished fourth with $11.6 million.

Greek Banks to Reopen Monday

Greek banks are reopening Monday after a forced 3-week closure but restrictions on cash withdrawals will remain in place, Reuters reports.

The Greek government kept the daily cash withdrawal limit at 60 euros ($65) but added a weekly limit of up to 420 euros ($455). Bank customers will still only be able to deposit checks into their accounts, but not cash them. They will not be able to get cash abroad with their credit or cash cards, only make purchases. There are further restrictions on opening new accounts or activating dormant ones. A government decree issued over the weekend pushes back by a month, to August 26, the deadline for filing income tax returns. The Greek Parliament will vote on further austerity measures Wednesday.

Black Hawk Bought—Lockheed to Acquire United Tech’s Sikorsky

Reuters reports that Lockheed Martin Corp, America’s largest weapons maker, has agreed to acquire United Technologies Corp’s Sikorsky Aircraft unit, which produces Black Hawk helicopters, for more than $8 billion. This will be Lockheed’s largest acquisition since it bought Martin Marietta Corp for about $10 billion two decades ago, and the first major strategic move for recently installed United Tech Chief Executive Officer Greg Hayes and Lockheed CEO Marilyn Hewson, who took over her job in January 2013.

Barclays to Cut 30,000 Jobs

First, Barclays Pic fired Chief Executive Antony Jenkins this month. Within two years, it plans to cut more than 30,000 jobs, The Times reported Sunday. The firings could reduce the bank’s global workforce below 100,000 by 2017, Reuters reports. The job cuts, considered to be the only way to address the bank’s chronic underperformance and double its share price, are likely to affect staff at middle and back office operations, the Times said.

Google Self-Driving Car Has First Accident with Injuries

…but it wasn’t the car’s fault, USA TODAY reports. The high-tech, camera-equipped Lexus was rear-ended by a distracted driver in Mountain View, California. Three passengers, Google employees, were treated at a local hospital for minor whiplash. The driver of the other car was also reported to have neck and back pain. Since 2009, Google’s self-driving cars have been involved in 14 accidents, but none have been the fault of the Google car. The 25-car fleet has driven 1.9 million miles in the six-year period, and has been rear-ended only 11 times.

An Apology 70 Years in the Waiting

In the first such apology by a Japanese company, the Mitsubishi corporation expressed remorse at a ceremony in Los Angeles that American prisoners had been put to work in mines operated by the firm, the BBC reports. James Murphy, 94, one of the few surviving former U.S. prisoners forced to work in Japan, was present to accept the apology. “For 70 years we wanted this,” he said. About 500 American POWs were forced to work in the mines from among the thousands of allied, Philippine, Korean and Chinese prisoners who were forced by the Japanese into slave labor.