The bottom line
▪ Wall Street fines handed out during the first year of the Trump administration fell to a four-year low. Penalties imposed by the Secur i ties and Exchange Com mis sion in fiscal year 2017 dropped 15.5 percent to about $3.5 billion, the lowest total since 2013.
The Wall Street Journal
▪ Nineteen states allow government agencies to suspend or revoke state-issued professional licenses from residents who default on their student loans. South Dakota can suspend driver’s licenses, making it nearly impossible for people to get to work.
The New York Times
▪ Some 2.5 billion robocalls were placed to U.S. consumers in October, according to the blocking service YouMail—a 4.1 percent increase over September. That translates to 80.5 million robocalls a day.
▪ Retirees can stretch $1 million roughly twice as far in Mississippi than in Hawaii, according to financial analysis site HowMuch. The average retired person could live for 25 years and six months on $1 million in Mississippi, the least expensive state, compared with 13 years and one month of retirement in Hawaii, the most expensive. Overall, the cheapest places for retirees after Mississippi are Arkansas, Tennessee, Kansas, and Oklahoma. The most expensive after Hawaii are Washington, D.C.; California; Oregon; and New York.
▪ Chinese internet giant Tencent this week became the first Asian company to be valued above $500 billion. Facebook and Amazon both crossed the $500 billion threshold this summer. All three still trail the tech sector’s market-cap leaders Apple ($872 billion), Alphabet ($712 billion), and Microsoft ($636 billion).