Nightly Business Report — January 23, 2015

Tonight on Nightly Business Report, UPS warns its bottomline will get hit by a double whammy: a stronger dollar and the West Coast port dispute. And, President Obama’s proposal to change one of the benefits of 529 college savings plans and why it may cost you.

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Today’s stock stories: BOX, STT, GPRO, VLO & DE.

Pascal Bronze | Getty Images

The president’s goal is lifting the incomes of middle-class families that have stagnated in recent decades while more affluent Americans have benefited from economic growth. To do that, he proposed decreasing some tax benefits from the affluent in order to increase benefits for the less well off. Specifically, the president proposed to raise $1 billion …

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Getting more cash out of your employer this year doesn’t necessarily require asking for a raise. Workers are potentially leaving thousands of dollars on the table in work perks, from discounts on cellphone service to cheap amusement park tickets and free cash for getting fit. “Most people aren’t up on those things,” said Bob Nelson, …

Source: Kate Rogers
Troy Reed and his son Chase Reed are Harlem-based entrepreneurs who buy, sell and trade Air Jordans and other brands at their Sneaker Pawn USA store.

Like many 16-year-olds, Chase Reed spends his days tied to his iPhone and Instagram account. But you won’t catch his dad, Troy Reed, bugging him to get off social media anytime soon. That’s because with each “like” the teenager acquires online, the father and son are seeing big dollars. The father and son have opened …

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As Box gears up for its IPO, Julia Boorstin tells us what the company does and how it makes money.

Daniel Acker | Bloomberg | Getty Images

The housing recovery began losing steam toward the end of 2014. Rising home prices and tight credit combined to sideline potential buyers, especially those considering an investment in their first home. While hopes are high for 2015’s spring market, there are several headwinds that could derail some of that optimism. First and foremost is credit. …

Adam Jeffery | CNBC

Coming off a year when Subaru and Lexus both saw sales grow faster than the industry average in the U.S., the two Japanese brands are also selling models expected to retain more of their value than their competitors. Kelley Blue Book calculated the average 2015 Subaru will retain 46.2 percent of its residual value five …

MarkRubens | iStock / 360 | Getty Images

As the five giants in U.S. consumer technology prepare to report earnings next week, investors are showing a surprisingly amount of skepticism about their prospects. Over the past three months, Apple (up 9.1 percent as of Thursday’s close) is the only one of the five to top the S&P 500’s 7.1 percent gain. Shares of …

Chesnot | Getty Images
A man takes a picture of an Apple Watch window display in Paris.

The much heralded Apple Watch, the tech giant’s first new product category since the launch of the iPad, will go to market this year with a battery life that could be as low as 2.5 hours for active use, according to a report in 9to5mac. That battery duration—2.5 to 4 hours—applies to the most active …

Lawrence Delevingne | CNBC

Full of global leaders, policymakers, business gurus and the odd music star, the attendees at the World Economic Forum (WEF) at Davos aren’t short of a dollar or two. But they might well be at the end of the week — with some of the food prices around town proving to be a little hard to …

Simon Dawson | Bloomberg | Getty Images
An employee counts fifty euro banknotes at his desk inside a Travelex store, operated by Travelex Holdings in London.

Central banks are in combat mode. On the front lines: Europe, Denmark, Canada, Switzerland, Peru and India. Each of their central banks has taken unprecedented and dramatic action to ease policy and weaken their currencies in the past few days. Central bankers may say they’re ramping up the fight against worryingly low inflation, exacerbated by …

Source: SkyMall

Finding it hard to flourish in a smartphone-dominated world, in-flight catalog maker SkyMall has filed for bankruptcy, according to a court filing. SkyMall, once the sole catalog provider for airline passengers, has faced increased competition from e-commerce providers, such as Amazon.com and eBay.com. CEO Scott Wiley called the company a victim of evolving technology, dogged …

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UPS shares plunged Friday after the company warned profits for the fourth quarter would come in well less than Wall Street expected. But its competitor FedEx reaffirmed its fiscal 2015 outlook a couple of hours later, saying it expected continued economic growth and cheap fuel. FedEx shares fell 2 percent, while UPS shares fell 10 …

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The biggest misunderstanding about enterprise cloud company Box is that the firm is in the consumer space, CEO and co-founder Aaron Levie told CNBC on Friday. In fact, Box works with about half of Fortune 500 companies at a time when the nature of computing in business is fundamentally changing, Levie said. “Box helps manage …