The Senate Select Committee on Intelligence has issued a subpoena for former national security advisor Michael Flynn, seeking documents in its investigation into Russia’s alleged interference in the 2016 presidential election, according to a joint announcement from Sens. The Senate panel first requested the documents in an April 28 letter to Flynn, but he refused, through counsel, to turn over the documents. Late March, the bipartisan leaders of the committee said they were “within weeks” of fin

President Donald Trump asserted in his extraordinary letter firing James Comey that the ousted FBI director told him three times he’s not under investigation, a questionable claim that if true would be a startling breach of protocol. Comey has publicly confirmed the FBI is investigating possible contacts between the Trump presidential campaign and Russia. Later, White House spokeswoman Sarah Huckabee Sanders said she did not think the exchanges between Trump and Comey were inappropriate. Several

The Trump administration said on Tuesday Comey was fired because of his handling of the Clinton email probe. Before he axed Comey, Trump had publicly expressed frustration with the FBI and congressional probes into the Russia matter. According to this former adviser, Comey’s Senate testimony on the Clinton emails likely reinforced in Trump’s mind that “Comey was against him.” “He regretted what he did to Hillary but not what he did to Trump,” the former Trump adviser said of Comey. Asked by repo

The legendary portfolio manager’s Miller Opportunity Trust mutual fund is up a gaudy 13.9 percent this year, easily beating the S&P 500’s return of 7.8 percent including dividends, according to Morningstar. Of course, the stock was trading around $153 a share Wednesday afternoon and is up 32 percent in 2017 alone, making the options play a strong move. Miller is best known for his record-setting feat of topping the market benchmark for 15 years straight between 1991 and 2005. He has since ended

Only 36 percent of voters approved of how Trump is handling the presidency, while 58 percent disapproved. The poll was conducted from Thursday to Tuesday, meaning most, if not all, of the voters responded before Trump fired FBI Director James Comey. White voters with no college degree narrowly approved of Trump by a 47 percent to 46 percent margin, compared to a 57 percent to 38 percent split last month. White men also narrowly approved of Trump, 48 percent to 46 percent, after they approved of

Snap reported quarterly financial results for its first time as a public company on Wednesday, posting revenue that missed estimates and slower-than-expected user growth. The company spent $2.0 billion on stock-based compensation expenses after its initial public offering, widening net losses for the quarter to $2.2 billion. CEO Evan Spiegel got a $750 million bonus for taking Snap public. He told analysts on a conference call that the company was focused on improving quality for users during th

Investors in the hot tech IPO Snap may feel burned, but the broader market is likely to look past its earnings bungle Thursday morning. Snap reported a $2.2 billion loss, dwarfing the $104.6 million loss a year ago. Snap reported revenues of $150 million, while analysts expected $158 million. Snap also reported 166 million daily active users while the market expected as many as 168 million or even more, Kessler said. Facebook stock floundered in its early days.

Snap reported late Wednesday first-quarter revenue that fell short of analysts’ estimates, while user growth slightly missed expectations. That relatively slow growth continued in Q1, as Facebook added similar copycat features, such as disappearing messages and filters, to its core product. Snapchat added only 8 million users to its average monthly user count during the quarter, going from 158 million to 166 million. Over the same period, Facebook added only 2 million in the United States (going

Comey was dismissed by U.S. President Donald Trump yesterday reportedly to increase public trust. In economic news, the Reserve Bank of New Zealand announced Thursday morning it stoodpat on interest rates. The New Zealand dollar traded lower against the dollar at $0.6832, compared to the $0.69 handle seen just ahead of the news. Nikkei futures in Chicago traded 0.28 percent higher at 19,955 while Osaka futures were up 0.2 percent compared to the benchmark close of 19,900.09 yesterday. Australian

An improving job market is creating the next snag for the stock market, Goldman Sachs analysts said. Profit margins for S&P 500 companies hit a record high of 9.2 percent in the third quarter of 2014 and — excluding energy firms — have stagnated since, the report said. Meanwhile, U.S. labor costs as a percentage of S&P 500 companies’ revenue have steadily increased to above 10 percent, according to Goldman. The analysts estimated that every percentage point increase in labor cost inflation weigh

As outrageous as the cost of health care can be in the United States, it’s nothing compared to the markup on some prescription medicines. President Donald Trump has vowed via Twitter to unveil a system that would dramatically reduce the price Americans pay for prescription drugs. For now, patients are stuck fighting their insurance companies to cover bills that can be jaw-droppingly expensive. GoodRx, which monitors the price of prescription drugs and lets consumer know a fair average to expect,

Shares of Yelp lost one-fifth of their value Wednesday, a day after the company reported weaker-than-expected sales growth and gave an outlook with little sign of improvement. After Tuesday’s closing bell, the online review company posted an adjusted loss of 6 cents per share on revenue of $197.3 million in the first quarter. The loss was narrower than the 8 cents per share loss expected by a Thomson Reuters consensus estimate — but revenue fell short of the $198.3 million expected. That’s well

She has a stellar resume: her undergraduate and MBA degrees are from Stanford, she’s worked at Goldman Sachs and she has launched multiple successful companies. But if anyone can measure up, it’s her former co-founder Marc Andreessen — the billionaire and leading Silicon Valley venture capitalist whose Andreessen Horowitz portfolio includes billion-dollar companies like Airbnb, Facebook and Box. They launched in 2005 and ran the company together until Bianchini left Ning in 2010 to become the en

Facebook’s News Feed algorithm has a new target: Links that send people to crummy websites full of ads. Facebook regularly tweaks its News Feed algorithm, the software that determines what things you see in your feed, and said in a blog post Wednesday that its latest update will crack down on lousy links. They may look fine in the feed, but they send people to pages “covered in disruptive, shocking, sexual ads,” according to Greg Marra, a product manager for Facebook. In this case, Facebook is a

Microsoft’s latest operating system, Windows 10, is now being used on 500 million devices every month, the company says. CEO Satya Nadella announced the milestone in his keynote address Wednesday morning at Microsoft’s Build conference for developers in Seattle. At the 2015 Build conference in April of that year, a few months before Windows 10 launched, Windows chief Terry Myerson predicted the operating system would be installed on 1 billion devices within three years. The milestone counts devi

This is despite Uber’s recent publicity woes and recently banning restaurants from its “express” delivery service, UberRush, last month. UberEats was once called UberFresh, and incorporated into the Uber ride-share app, until it became its own app in 2015. Many UberEats deliverers are simply standard Uber ride-share drivers who also deliver people to their destinations. Bike messengers have criticized Uber and its delivery services for being one of the lowest-paying apps they can use and for und

But recent comments from Sotheby’s CEO Tad Smith suggest that fine art prices have room to grow — and may be in for a structural (rather than cyclical) surge. Sotheby’s looked at the wealth of today’s billionaires and compared it to the most expensive works of art sold. Yet, the numbers counter the perception that art prices have soared beyond the reach or rationale of even the wealthiest buyers. There are not only more billionaires in the world than ever — more than 2,000 — but their fortunes h

In July 2016, the FBI launched an investigation into the various ties between the Trump campaign and Russia. After Trump’s election, the investigation took on considerably more urgency — with Comey personally approving more scrutiny, according to the Guardian. Clearly, Director Comey had given consent and support for an investigation into the Trump campaign’s links to Russia. It would also come back to the core issue from Watergate: “What did the president know, and when did he know it?” By earl

The average state income tax is $1,977, Student Loan Hero found. That’s based on applying the average state income tax rate of 4.05 percent to the average national salary of $49,630. The average college graduate left school with $37,172 in student loan debt, according to Student Loan Hero. “The biggest factor to consider would be employment,” said Elyssa Kirkham, a researcher for the Student Loan Hero study. Check out the five states below for known attractive salaries without the sting of incom

You can’t put a price on love. More than four in 10 adults say knowing someone’s credit score would affect their willingness to date him or her. A recent survey from Bankrate.com, a personal finance website, showed that women were nearly three times as likely as men to view a poor credit score as a major consideration on whether they pursued a potential love interest. Indeed, 37 percent of the surveyed participants believe that a couple ought to know each other’s credit scores after dating for a