Facebook launches Ebola fundraising campaign

Facebook is launching a fundraising campaign to help groups fighting Ebola.

NEW YORK (CNNMoney)

The social network, whose founder Mark Zuckerberg announced a personal $25 million donation to help battle the deadly disease, will make it easier for others to donate as well.

But while Zuckerberg and some other billionaires and companies have made some big donations, small donations from the general public have lagged far behind the $1 billion the United Nations estimates it will take to fight the crisis.

Zuckerberg's donation went to the Centers for Disease Control Foundation. But Facebook is seeking donations for three other groups: the International Medical Corps, the International Federation of Red Cross and Red Crescent Societies and Save the Children. Facebook's 1.3 billion users will see a message at the top of their news feed with an option to donate to those groups.

The company will also team with UNICEF to provide information through Facebook to people in targeted regions about Ebola symptoms and treatment. Additionally, it will team with NetHope to provide communications services to medical and aid workers in Guinea, Liberia and Sierra Leone.

Related: Paul Allen pledges $100 million to fight Ebola

"In times of crisis, people turn to Facebook (FB, Tech30) to learn about what's happening, share their experiences and offer support," said the company's statement. "If not addressed, the Ebola epidemic could become a long-term global health crisis. Together with our partners, we're hopeful that by offering people the tools they need, we can all help fight this disease."

More information on its efforts is available at facebook.com/fightebola.

First Published: November 6, 2014: 9:04 AM ET

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Standby. European Central Bank is preparing new stimulus

The European Central Bank may need to act again to get the economy moving.

LONDON (CNNMoney)

ECB President Mario Draghi told reporters Thursday that he had the bank's full support to take further measures, if needed, and officials would begin preparatory work.

Earlier, the ECB decided to keep its interest rates on hold at a record low of 0.05%.

His comments helped push the euro lower against the dollar, and underpinned European stocks.

The ECB has already announced plans to buy private debt and issue long-term loans, measures that together could amount to stimulus of about 1 trillion euros ($1.25 trillion).

Many economists believe that won't be enough, given the risk that very low inflation and weak investment will condemn the eurozone to prolonged stagnation and painfully high unemployment.

European officials slashed their forecasts for eurozone growth earlier this week to just 0.8% in 2014. They also projected inflation of 0.6%, and said it wouldn't come close to the ECB's target of just below 2% for at least two years.

"We expect that the ECB's conditions for more easing will be met," said Christian Schulz, senior economist at Berenberg bank.

He, and others, expect the ECB's next step will be to start buying corporate bonds -- in addition to securities backed by loans and mortgages.

Full-bore quantitative easing, including the purchase of sovereign debt, is unlikely this year unless the region suffers another sharp downturn.

Related: Bank of Japann stuns market with even more stimulus

Related: Fed ends 6-year effort to stimulate economy

First Published: November 6, 2014: 11:12 AM ET

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Housing for retirees: Unaffordable

NEW YORK (CNNMoney)

Sadly, though, my dad's plan may be harder for many other seniors to pull off. A study from the Joint Center for Housing Studies at Harvard University found that affordable housing remains a huge challenge for seniors — and it's going to get worse as the baby boomers age.

And if you, Mr. 20-something, think this a moot point for you, you're wrong. Your taxes, your city, your commute and very likely your own parents are in these crosshairs, too. Listen up.

Related: Baby boomers aren't moving out of their homes

Let's start with the boomers. Thanks to them, 18 percent of the U.S. population will have hit 65 or older by 2030, according to the Pew Research Center. The wave has already begun, with the oldest boomers hitting that milestone in 2011.

Related: Study abroad, get married

Already more seniors are living longer in their single-family houses, the Harvard researchers found, but the cost of housing remains one of the biggest obstacles to quality end-of-life care, with millions of seniors paying more than 30 percent (the rate considered financially sustainable) of their income for housing — and cutting back on food and medical care to do so. Many seniors who still rent or haven't paid off mortgages are implicated.

The Numbers

• 13.4 million people over age 75 will live alone by 2035.
• One in four has a serious medical impairment.
• 70 percent of people over age 65 will need long-term care as they age.
• The median income for seniors in their 80s remains less than $30,000 — no matter how well-off they started.

Related: Foreign countries offer U.S. retirees discounts and tax breaks

In sum, a lot of aging people want to stay in their homes, but will live alone, with little income and big needs.

The study finds that one of the biggest needs as boomers age will be for subsidized housing, giving those who can't work anymore a reliable roof — but we as a nation aren't set up for that.

"We're a country where we'll have a lot of older adults facing hunger, having inadequate housing, being isolated," says Vivian Vasallo, the vice president for housing with the AARP Foundation, which commissioned the study.

The next 10 years are crucial for planning how we as a nation age, she says — before the boomers hit and our social services and safety nets shudder.

What are your plans?

This article originally appeared in Ozy. CNNMoney and Ozy are partnering to tell the story of the "Real Economy."

First Published: November 6, 2014: 9:12 AM ET

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Diamond engagement rings are so over

NEW YORK (CNNMoney)

More brides to be are choosing non-traditional engagement rings over the standard white diamond solitaire that has adorned women's left hands for so long.

Jewelers across the country are reporting an increase in couples looking for alternatives like colored diamonds, gemstones and bands to symbolize their commitment.

New York-based jewelry designer Anna Sheffield said the shift has been a main driver to her business's success. "People want something that is unique and specific to them," she said.

Sapphires are the most durable non-dimaond gemstone

Unlike most trends that are fueled by young shoppers, Amanda Gizzi from Jewelers of America, said older women are leading the charge. "They know more of who they are and want something that doesn't fit the norm and what all their girlfriends have." Rings without an elevated diamond are also more comfortable and fit in better with an active lifestyle, she added.

China drives global diamond jewelery sales to $79 billion

The price tag is also a big factor. "The guy paying for it is more excited that it costs less," said Michael Arnstein, president of the Natural Sapphire Company, which sells nearly 200 sapphire engagement rings a month. A round-shape 1.20 carat sapphire with 0.16 carats of diamonds on an 18-karat white gold ban sells for $3,500 on the company's website. "It's well agreed in the trade that a sapphire engagement ring will cost about half of what a comparable diamond would cost," he said.

Diamond prices could remain high, especially as the number of diamond mines declines. Higher prices could further ignite the trend of substitutions as the star of engagement rings.

People have also been more drawn to other precious stones to avoid conflict diamonds. Arnstein said there is no gemological way to prove where a diamond came from based on its characteristics. "With the sapphire, it's totally possible to determine where it came from based on the inclusions."

Colored diamonds are becoming more popular

Tiffany stock is better than diamonds

He added that non-diamond engagement rings have become more socially acceptable thanks to major celebrities like Kate Middleton and Penelope Cruz rocking the blue gemstone. "Women tend to think, 'if it's good enough for the future Queen of England, I can do it too.'" He said sapphires, which can come in many different colors, are viewed as less flashy and convey a more conservative style.

Colored diamonds have also become more common on engagement rings, specifically champagne and black diamonds, according to Sheffield. She's also seen strong demand for rubies, emeralds and sapphires.

Leigh Plessner from jewelry store Catbird said the company first started selling engagement rings unintentionally. "We had small delicate rings in the store and noticed people were looking at them for engagement rings." The store doesn't sell traditional solitaires, but diamonds do make up a large part of their offering in non-traditional settings. "We aren't actively rebelling against a beautiful solitaire, we just offer a wider range that speaks to us."

But there's a reason diamonds became the engagement ring norm: they're durable and classic.

The diamond solitaire has growing competition

Related: See a 75 carat yellow diamond ring

Jim Rosenheim, CEO of Tiny Jewel Box in Washington, D.C., said when couples come in inquiring about non-diamond rings, he tries to educate them on their options. Sapphires are second in durability to the diamond, but other options aren't as tough.

"Most colored stones don't have the durability that will allow them to be worn in the manner engagement rings are without sustaining significant wear and damage over a long period of time."

He also warns customers that their engagement ring is not the place to make a fashion statement. "You don't want to look at your ring in a year or two and think, 'what was I thinking?'"

First Published: November 6, 2014: 10:19 AM ET

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What's driving San Francisco? Beer

NEW YORK (CNNMoney)

"Manufacturing" doesn't automatically conjure up a cold one, but brewing beer takes some serious machinery, and craft breweries are leading the city's food and beverage industry. It's the city's second strongest manufacturing sector behind sewn products like clothes and bags.

The emerging importance of the city's breweries are detailed in a new report released Wednesday by SFMade, an organization that works to assist and promote the city's manufacturing sector.

"We are having an explosion of breweries in the city right now," Kate Sofis, executive director of SFMade, told CNNMoney. "They are all playing on the combination of old school craft with a decidedly urban lens."

America's Most Innovative Cities

According to the San Francisco Brewer's Guild, 10 breweries are in various stages of planning and development and could open in the city next year. The guild, which hosts events like SF Beer Week, counts 20 breweries as its members and keeps tabs on the state of the industry.

"The tide is shifting a little bit in the last couple years," said Justin Catalana, who opened Fort Point Beer Company with his older brother this year. "People are starting to become craft beer drinkers and they're starting to have an affinity for craft brew brands."

Fort Point is in a 14,000-square-foot building that was formerly used by the military in San Francisco's Presidio neighborhood.

"We're really trying to become a manufacturing facility that makes San Francisco craft beer," he said.

More manufacturing: From motorcycles to death shrouds

But the strength in San Francisco's manufacturing sector is more than just booze. SFMade has 543 members (representing 90% of the city's manufacturing sector) and is growing each year. Sofis said some of the most successful businesses have found a way to combine old-school artisan practices with the latest innovations.

Sarah Graham Metalsmithing is a jewelry studio founded nearly two decades ago that now uses a 3D printer to make its molds. Meanwhile, DODOcase makes high-end cases for phones and tablets that look like traditionally-bound books. Sofis called that a "perfect marriage."

SFMade has also benefited from partnerships with "local businesses" like Google (GOOG) and Pinterest, and tech entrepreneurs who provide investment capital.

A co-founder of Twitter (TWTR, Tech30), for example, helped launch a new coffee roaster in the city, and a small group of investors put more than $1 million into expanding Magnolia Brewery, a local watering hole.

Related: San Francisco's million-dollar bet on education

"There are scores of tech-sector employees who have made money and have options and are making $10,000, $20,000 investments in brick and mortar manufacturers," Sofis said.

While the future is looking good, continued growth depends a lot on a supportive city government. San Francisco is an small, expensive place to live, and the report suggested that one of the greatest threats to local manufacturers is the lack of available and affordable space.

San Francisco Mayor Ed Lee seems to be working on that, and recently announced he would make sure more industrial space is available in the city. He has also said that developing the city's waterfront is of high importance.

Sofis said manufacturers have noticed.

"Just having that constant drumbeat coming from City Hall that they're important goes a long way to combat the necessary evils that come with doing business in a big city," she said.

Catalana thinks the existing facility will accommodate his brewery for the next five years, and even after that, he plans to stay within the San Francisco city limits.

"You pay a premium to be in the city, but it's who we are," he said. "It's engrained in our brand and we want to keep that. It's important to us."

What's innovative about your city? Let us know by posting your photo and description to #CNNCities on Instagram.

First Published: November 6, 2014: 10:16 AM ET

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Microsoft makes Office free on mobile

NEW YORK (CNNMoney)

For years, Microsoft (MSFT, Tech30) hadn't even made Office available on mobile devices, let alone for free. That began to change in the summer of 2013, when Office came to the iPhone and eventually Android smartphones. Office didn't debut on the iPad until March of this year.

Still, you needed a $99 Office 365 subscription to use the software.

Now, all iPhone, iPad and Android owners can create and edit Office documents, spreadsheets and presentations -- even if they're not Office 365 customers.

Related: Will Google Docs kill off Microsoft Office?

Microsoft's change of heart happened as mobile phone usage began to eclipse that of laptops and desktop computers -- Office's mainstay. Competitors' products were also getting better and were available to mobile users -- and the price was better. Google (GOOGL, Tech30) has long offered its Drive productivity apps for free to customers, and Apple (AAPL, Tech30) began offering its iWork suite of apps for free to iPhone and iPad users last year as well.

By giving away Office for free to mobile users, Microsoft is making a bet that it will maintain a strong base of Office for PCs as well. Those who use Office for mobile will probably appreciate the interoperability with their PC version of Office. And editing, creating and even reading documents on mobile devices is still a mostly painful process, so the need for Office on the computer hasn't eroded yet.

Related: Meet Sway, Microsoft's first new Office app in a decade

Meanwhile, Microsoft is still pushing its Office 365 subscription. Office for mobile is still a better experience if you pay for it, since you get access to some functionality that non-paying customers don't. Office 365 includes integration with Dropbox and 1 terabyte of Microsoft's OneDrive cloud storage. Microsoft said unlimited OneDrive storage is coming soon.

Microsoft also updated its Office apps for the iPhone and iPad, and it plans on debuting its Android tablet Office apps early next year. It also is previewing a new version of Office for Windows 10, the latest version of its PC operating system.

First Published: November 6, 2014: 11:08 AM ET

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J.C. Penney to open at 5 p.m. on Thanksgiving

Shoppers outside J.C. Penney on Thanksgiving 2013.

NEW YORK (CNNMoney)

But this year, it will try to jump out in front by opening at 5 p.m. on Thanksgiving.

The department store chain opened at 8 p.m. on Thanksgiving last year, which was its earliest opening ever. But many rivals opened at 6 p.m. that year.

In 2012, it waited until 6 a.m. on Black Friday to open, as many rivals opened at midnight or late on Thanksgiving.

This year's 5 p.m. start will give Penney (JCP) about an hour's edge over many key rivals.

So far this year Kohl's (KSS), Sears and Macy's (M) have confirmed they will open at 6 p.m. on Thanksgiving.

So far the earliest holiday sales will be at Kmart, which like Sears is owned by Sears Holdings (SHLD), but will open at 6 a.m. on Thanksgiving.

Related: What's open on Thanksgiving, and what isn't

Up until a few years ago most chains did not start the holiday sales until Black Friday, but now the trend is to start the sales Thanksgiving evening. An estimated 25% of shoppers began their holiday shopping on Thanksgiving last year.

But there has been some push back from retail employees, shoppers and even some chains. Costco confirmed last month it will continue a tradition of not opening on Black Friday, saying its employees "deserve" the chance to spend Thanksgiving with their families.

Related: Is another holiday delivery fiasco ahead?

First Published: November 6, 2014: 7:55 AM ET

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Jay Z likes $300 champagne. So he buys the company

Music mogul Jay Z appreciates the finer things in life, including high-end Armand de Brignac champagne.

LONDON (CNNMoney)

The Armand de Brignac champagne brand -- which sells its shiny gold bottles for about $300 each -- has long been favored by the rap artist and was featured prominently in one of his music videos back in 2006.

He's often seen in pictures sipping the drink with his wife Beyonce Knowles, and the couple famously hosted a fundraiser for President Obama that featured a wall lined with hundreds of Armand de Brignac bottles.

The owner of the brand -- New York-based Sovereign Brands -- confirmed the sale this week. The price of the deal was not disclosed.

The champagne -- also called "Ace of Spades" -- is crafted and marketed by a family-run vineyard in France that traces its roots back to 1763. The company employs fewer than 20 people.

Bottles of Armand de Brignac champagne.

Jay Z used to be a massive fan of Cristal, but that changed in 2006 when The Economist published disparaging comments from the head of the company that makes the champagne, Frederic Rouzaud.

"What can we do? We can't forbid people from buying it," Rouzaud told The Economist, when asked if hip-hop artists were tarnishing the high-end brand.

When Jay Z heard of the comments, he immediately stopped sipping Cristal and quickly switched to Armand de Brignac.

"We used their brand as a signifier of luxury and they got free advertising and credibility every time we mentioned it," he wrote in his 2010 book "Decoded." "We were trading cachet. But they didn't see it that way."

Related: The favorite brands among hip-hop legends

The 44-year-old New Yorker, born Shawn Carter, rose to fame through his music and now has business interests in fashion, entertainment and sports.

Forbes ranks him among the most powerful celebrities in the world, alongside Oprah Winfrey and LeBron James. But his wife Beyonce tops the Forbes ranking and was recently named the top-earning woman in the music industry after making $115 million in 2014.

First Published: November 6, 2014: 8:35 AM ET

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Luxembourg: The tax haven at the heart of Europe

LONDON (CNNMoney)

A report by the International Consortium of Investigative Journalists, representing a team of 80 from 26 countries, claims that companies such as Pepsi (PEP) and AIG (AIG) obtained assurances from Luxembourg that plans to minimize tax would be viewed favorably by officials.

"These legal secret deals feature complex financial structures designed to create drastic tax reductions," the ICIJ report stated.

IKEA, Deutsche Bank (DB) and Abbott Laboratories (ABT) also feature on the list of about 340 companies which took advantage of controversial arrangements to slash the tax they pay on hundreds of billions in profits funneled through Luxembourg.

In some cases the rate of tax paid was less than 1%.

Apple (AAPL, Tech30) -- under scrutiny for its tax arrangements in Ireland -- is there too, as is Amazon (AMZN, Tech30).

European regulators recently began a probe into whether Amazon received illegal state aid from Luxembourg for over a decade, thanks to a preferential tax deal. A unit of Fiat (FCAU) is facing a similar investigation.

The ICIJ report comes at a sensitive time for the EU. The consortium analyzed leaked documents covering at least 548 tax rulings made from 2002 to 2010, when the EU's top official -- Jean-Claude Juncker -- was prime minister of Luxembourg.

"In many cases Luxembourg subsidiaries handling hundreds of millions of dollars in business maintain little presence and conduct little economic activity in Luxembourg," the ICIJ said.

Many companies appeared to be using Luxembourg simply as a mailbox address, it added, citing three buildings apparently home to more than 4,000 firms.

"Luxembourg is like a corporate version of extraordinary rendition, a place where companies can do their dirty work that would not be permitted at home," said Crawford Spence, professor of accounting at Warwick Business School.

PricewaterhouseCoopers helped the companies obtain the advance tax rulings, according to the ICIJ.

PwC, Luxembourg officials and spokespeople for some of the companies named in the report denied any wrongdoing in statements to the ICIJ.

Related: What now for taxes after Republican sweep

Related: Treasury acts to stop overseas tax 'inversions'

First Published: November 6, 2014: 8:45 AM ET

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The best stock investment I ever made

Army Major Tom Handy Tom Handy of El Paso, Texas, with his son.

NEW YORK (CNNMoney)

The University of Southern California senior took out $30,000 in loans and bought 30,000 beaten down shares of Citigroup (C) for about a dollar each.

When he cashed out two years later, the stock's value had quadrupled. He made close to six figures on the trade and dubs it his best investment ever -- at least so far.

Yuan is one of a handful of "average Joe" investors CNNMoney spoke to who snapped up shares of big American companies on the cheap during the dark days of the financial crisis. Those investments paid off handsomely as the market has roared back to life.

Related: Fed ends 6-year effort to stimulate economy

American Airlines bet: Army Major Tom Handy isn't an investing guru, but he knows a thing or two about the markets.

"I've been investing for maybe 17 years, so I've seen the good and the bad," said Handy, who lives in El Paso, Texas. "I've learned to buy when a stock is out of favor with the market."

In late 2012, he bought 32 shares of American Airlines parent AMR corp for his son at just 80 cents each using some of his son's Christmas money. The airline was going through bankruptcy, but having flown the airline many times out of its Texas hub, Handy wasn't ready to leave it for dead.

"I knew even though they were talking about bankruptcy, the airline wasn't going anywhere," he said. "It was too cheap not to buy any [shares]."

Handy's wager worked. Soon after he invested, American Airlines announced that it was merging with U.S. Airways to create the largest air carrier in North America. And in an unusual step for a company emerging from bankruptcy, American's former shareholders got a small percentage of shares in the new entity.

Handy's return on investment: over 250%.

"I think I'm going to hold it for a while," he said.

Related: How I taught my kids to invest

Ford stock pays off: For some, a bet on a certain stock is a bet on the economy itself. That's what John Daniel, a tax attorney who lives in Orlando, Florida, was thinking when he invested in Ford (F).

A law student at the time without much money, Daniel acquired 50 shares for a mere $2.50 each. He bought Ford as other car companies were taking bailouts and commentators were talking about the death of the American auto industry.

"I wanted to invest in an industry, Detroit, be a good ol' American boy," he said. "Even if it did fail, at least I did something that helped keep the economy here at home sputtering a bit."

Not that there's anything wrong with making a little money in the process. With Ford now at $14 per share, Daniel has netted a return of over 450%.

Raw instinct on Citigroup: When Yuan made his move on Citigroup, he had done his homework. He had virtually no investing experience, but he learned financial analysis and valuation in school. He went to his parents and asked them to cosign a $15,000 student loan, and then petitioned them for a second loan for the same amount.

"At first they thought I was crazy and didn't take me seriously until I showed them all the research I had been doing," he said. "The proposition was, if this doesn't work out, my career is about to start, I'd pay them back regardless."

Ultimately, however, all the due diligence in the world didn't matter.

"Having the right research, knowing that it was a calculated risk helped," he said of his strategy. "But at the end of the day, trusting my gut really paid off, pulling the trigger and not looking back."

It's frankly the kind of approach that famed investor Warren Buffett is known for. "Try to be fearful when others are greedy and greedy only when others are fearful," Buffett suggests, which is exactly what these investors did.

Related: How much should a young worker save for retirement?

Deciding when to invest again: All there investors claimed that they're looking for another big growth opportunity, even though they admitted the kinds of deals they got don't come around too often.

For Handy, that means tracking products that his son likes.

"If I think it's something he's interested in, I see it popping up in stores and he's talking about it, then I think it might be the next big thing for kids," he said.

Yuan, for his part, is mostly saving up for a house now. Netflix (NFLX, Tech30) was on his radar at $60, but he regrettably never acted on it. The online entertainment company now trades at over $380 per share.

"At the time I hadn't done enough research," he said.

First Published: November 6, 2014: 8:29 AM ET

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