The Aston Martin DBX seen at Salon Prive, held at Blenheim Palace, September 25, 2020 in the United Kingdom. Martyn Lucy | Getty Images Aston Martin Executive Chairman Lawrence Stroll said the company is set to produce 10,000 vehicles a year by 2025, adding that the company’s “risks are behind us.” The Canadian billionaire told
Month: August 2021
Elon Musk’s SpaceX revealed new details about plans for the next-generation of satellites in its Starlink internet system in federal filings on Wednesday, including that the company intends to use its massive Starship rocket as the primary vehicle to deliver the spacecraft to orbit. SpaceX filed an amendment with the Federal Communications Commission that included
Image Source | Getty Images Many Americans have trouble covering their costs of living with income solely from Social Security. Now, a bill has been reintroduced in Congress aimed at reducing the risk that older Americans, women and people of color will live in poverty despite receiving their monthly checks. The proposal, called the Social
The cost of a college education continues to soar with no end in sight. College tuition rises at more than twice the rate of inflation, growing by about 8% per year, on average. At this rate, the cost of a college education will double every nine years. This has many parents understandably concerned about paying
Today’s column addresses questions about whether cost of living allowances are applied to retirement benefits at 70 after receiving spousal benefits, taking divorced spousal benefits after disability benefits and the availability of survivor’s benefits after taking spousal benefits. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic
The rental market, which slumped during the pandemic, has snapped back quicker than many economists predicted. A strong and widespread recovery of rents has pushed prices beyond where they would have been had the coronavirus pandemic never occurred, according to Zillow’s latest market report. Although home appreciation again broke records in July, there are signs of
Oil pumping rigs are situated next to a vineyard of table grapes as viewed on July 8, 2021, north of Bakersfield, California. George Rose | Getty Images Oil dropped for a sixth-straight session on Thursday, falling to the lowest level since May as demand fears and comments from the Federal Reserve that it will suspend
In this article KSS People shop at Kohl’s department store amid the coronavirus outbreak on September 5, 2020 in San Francisco, California. Liu Guanguan | China News Service | Getty Images Shares of Kohl’s fell more than 3% in premarket trading Thursday despite reporting second-quarter earnings that beat analyst expectations and raising its forecast for
An illustration showing physical bitcoins alongside binary code displayed on a laptop. Jakub Porzycki | NurPhoto via Getty Images Japanese cryptocurrency exchange Liquid said Thursday it has been hit by a cyberattack that saw hackers make off with more than $90 million worth of digital coins. Liquid said some of its digital currency wallets had
It’s no secret that Jack Dorsey, CEO of Twitter and Square, loves bitcoin, the largest cryptocurrency by market value. In fact, the bitcoin maximalist has touted it as the most important project in his lifetime to work on, and Square, his digital payments company, bought over $170 million worth of bitcoin earlier this year. Now, the billionaire
Although many Americans continue to face financial uncertainty due to the pandemic, the outlook for retirement savers is only improving. Retirement account balances, which took a sharp nosedive in 2020 when the coronavirus outbreak caused economic shock waves, are now at new highs, according to the latest data from Fidelity Investments, the nation’s largest provider
As Mohamed Hadid eyes a record price in Beverly Hills, another of the luxury real estate developer’s properties is headed towards a different fate. Hadid’s unfinished mega-mansion at 901 Strada Vecchia Road in Bel-Air is scheduled to hit the auction block next month, according to sources familiar with the property. The high-end development, now listed
Rescuers evacuate stranded people in the waterlogged urban area of Weihui City in Xinxiang, central China’s Henan Province, July 27, 2021. Li An | Xinhua News Agency | Getty Images Severe rainstorms and flooding in China are hurting the profits of insurance companies, and highlight the shortfalls of the country’s natural disaster insurance system. Flooding
In this article NVDA Nvidia CEO Jensen Huang wearing his usual leather jacket. Getty Nvidia reported earnings on Wednesday for its second fiscal quarter that ended on August 1, beating Wall Street estimates because of strong graphics cards sales. However, Nvidia’s cryptocurrency chip products, CMP, had lower sales at $266 million than the $400 million
Beijing office towers, including Alibaba’s, are illuminated with Chinese characters reading ‘blessing to China’ to celebrate National Day in October 2020. Zang Zhihao | Visual China Group | Getty Images BEIJING — American investors’ shock at an ongoing regulatory crackdown in China points to a fundamental difference between the two countries that many didn’t seem
John Ewing | Portland Press Herald | Getty Images More than 100 million U.S. households, or 61% of all taxpayers, paid no federal income taxes last year, according to a new report. The pandemic and federal stimulus led to a huge spike in the number of Americans that either owed no federal income tax or
@Sabi32 | Twenty20 One in 3 American families couldn’t handle a mid-sized financial emergency before the pandemic, according to a report from the Stanford Center on Longevity and the Global Financial Literacy Excellence Center. Roughly 27% of American families couldn’t cover an unexpected $2,000 expense within a month, and 33% were struggling to make ends
Brothers91 | E+ | Getty Images About 36 million American families have received a second batch of monthly child tax credit payments worth about $15 billion. Yet a survey from personal finance website MagnifyMoney finds that many Americans are still confused about how the payments work. Those who were most likely to lack clarity were
My mother used to say, “If I put $1 away every time (blank) happened, I could have retired by now.” Today, we could fill in the blank with, “the Centers for Medicare and Medicaid Services (CMS) touches the Plan Finder and there are new problems.” Since its introduction in August 2019, I have written a
The United States Tax Court is one of the most accessible courts in the federal system, maybe even overall. Well here is some good news and bad news about the Tax Court. The bad news is that it is absolutely swamped by a flood of petitions. The good news ? Well that’s the good news too. It all depends
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