A sell-off in chip stocks intensified following a report that chipmakers are cutting ties with Huawei after the Trump administration's ban.Marketsread more
Ford Motor said Monday that it is laying off about 7,000 salaried workers, about 10% of that global workforce, as part of a restructuring plan designed to save the No. 2...Autosread more
President Trump stands a chance of creating a new economic world order in his China trade fight, says the chief economic advisor of Allianz.Economyread more
Most U.S. hedge funds aren't expecting another big stock market sell-off as more firms curb bets on volatility, according to Nomura.Marketsread more
Google announced Google Glass Enterprise Edition 2 on Monday, a new set of smart glasses that's catered toward businesses and costs $999. Google has focused on business use...Technologyread more
More than 170 shoe retailers, including Nike, Under Armour, Adidas, Foot Locker, Ugg and Off Broadway Shoe Warehouse, have penned a letter to the White House asking President...Retailread more
Microsoft on Monday announced new moderation for its Xbox platform in an effort to cut down on toxic content and to make gaming safer for everyone.Technologyread more
People investing in some technology stocks should not expect them to go up anytime soon, warns the "Mad Money" host.Investingread more
Nordstrom has chosen Oct. 24 for the grand opening of its women's store in New York, the largest single-project investment in the company's history.Retailread more
Little Caesars will sell a pizza topped with plant-based sausage crumbles made by Impossible Foods for the pizza chain. This marks the first time a national pizza chain is...Restaurantsread more
A multimillionaire property magnate in Australia has told young people that if they want to get on the property ladder, they should stop spending so much money on avocado toast and coffee.
"When I was trying to buy my first home, I wasn't buying
The millionaire began his career as a property investor after purchasing a gym in Melbourne's south in 2001 with the help of $34,000 borrowed from his grandfather.
He then went on to found his real estate company Gurner in 2015 and, according to 9news,
In the interview, the 35-year-old stressed how hard he worked when he was young.
"When I had my first business when I was 19, I was in the gym at 6 a.m. in the morning, and I finished at 10.30 at night, and I did it seven days a week and I did it until I could afford my first home."
Gurner told the Australian television version of 60 minutes that the problem lay with reality TV stars who give millennials unrealistic expectations.
"This generation is watching the Kardashians and thinking that's normal – thinking owning a Bentley is normal. They want to eat out every day; they
"The people that own homes today worked very, very hard for it [and] saved every dollar, did everything they could to get up the property investment ladder."
Gurner said one ray of light for young people would be the huge transfer of wealth as baby boomers retired and grew old but added that this could take as long as 20 years to materialize.
The comments echo an editorial piece in The Australian newspaper last year in which Demographer Bernard Salt young people could better afford a home if they stopped spending all their money in expensive cafes.
"I have seen young people order smashed avocado with crumbled feta on five-grain toasted bread at $22 a pop and more. I can afford to eat this for lunch because I am middle aged and have raised my family.
"But how can young people afford to eat like this? Shouldn't they be economizing by eating at home? How often are they eating out? Twenty-two dollars several times a week could go towards a deposit on a house," he wrote.
U.S. congressman Jason Chaffetz also raised debate about where to prioritize income when he said Americans who couldn't afford health insurance should stop buying smartphones.