New Oriental is located at the West Yintai Campus, Hangzhou city, Zhejiang Province, China, on August 2, 2021. Costfoto | Barcroft Media | Getty Images The Chinese government’s sudden crackdown on after-school education companies is raising costs for many parents and throwing millions of jobs into uncertainty. In a country where parents prize a good
Month: August 2021
Billionaire American businessman Jeff Bezos walks with Blue Origin’s President and CEO Bob Smith after Bezos flew on the company’s inaugural flight to the edge of space, in the nearby town of Van Horn, Texas, U.S. July 20, 2021. Joe Skipper | Reuters Jeff Bezos’ space company remains on the offensive in criticizing NASA’s decision
Lucy Nicholson | Reuters The Centers for Disease Control and Prevention on Tuesday released a new federal eviction moratorium, just days after the previous ban expired on July 31. The new rules bought more time for some, but not all, of the millions of renters facing eviction. It’s also increased confusion for many in danger
The Roth IRA Peter Thiel used to amass billions in tax-free dollars has renewed interest in using tax-advantaged retirement plans as a means for accumulating wealth. What hangs up entrepreneurs is they don’t want to set aside wealth only to have it be taxed away. Whether you think of this as greed or good business,
Today Senators Ron Wyden, D-Ore.; Pat Toomey, R-Pa.; and Cynthia Lummis, R-Wyo. introduced an amendment to the latest version of the Senate infrastructure bill that would significantly limit those who are considered to be “brokers” and must adhere to information reporting requirements related to cryptocurrency transactions. The original definition of a “broker” who is required
Despite renewed uncertainties and struggles regarding the delta variant of Covid-19, the economy of the United States has rebounded immensely from the depths it reached in the first half of 2020. Across the U.S., every state experienced a harsh initial impact on their economies. Since then, however, the recovery has been very uneven, with some
American backstroke Olympian Ryan Murphy told CNBC’s “The News with Shepard Smith” that doping remains a huge problem in the sport, and that there’s not enough being done to combat it. “In the U.S. you can see exactly how many times myself or any of my teammates have been drug tested, and it’s not like
An employee walks past a quilt displaying Etsy Inc. signage at the company’s headquarters in the Brooklyn. Victor J. Blue/Bloomberg via Getty Images Etsy reported better-than-expected second-quarter results after the bell on Wednesday, but it gave guidance for the current quarter that suggests the pandemic-fueled commerce boom may be stalling. The stock slid as much
In this article DBSM-SG DBS Group Holdings in the central business district of Singapore. Nicky Loh | Bloomberg | Getty Images SINGAPORE — DBS Group Holdings, the largest bank in Singapore and Southeast Asia, reported on Thursday second-quarter earnings that beat expectations as the economic recovery in its home market takes hold. The bank’s net
For Ray Dalio, bitcoin is like a digital version of gold — but the billionaire clearly values one higher than the other. “If you put a gun to my head, and you said, ‘I can only have one,'” says Dalio. “I would choose gold.” Dalio, who turns 72 on Sunday, revealed in May that he
In this article VRA VERA A woman walks past JPMorgan Chase & Co’s international headquarters on Park Avenue in New York. Andrew Burton | Reuters JPMorgan Chase‘s new healthcare unit has made its first investment, CNBC has learned exclusively. The bank has agreed to invest $50 million in Vera Whole Health, a Seattle-based start-up that
kate_sept2004 | E+ | Getty Images Many Americans were financially squeezed even before the Covid-19 pandemic began. As of 2019, 41% of households ages 25 to 64 said they did not have enough saved to cover an unexpected $400 expense, according to Federal Reserve data. One reason they may have had trouble setting aside cash:
Do you need a financial plan? Maybe not. A full written financial plan is a robust analysis as of one point in time. This differs from general financial planning, which the Certified Financial Planner Board describes as advice on how to achieve short and long-term financial goals. You can’t have a financial plan without financial
Selling crypto can obviously trigger taxes, but even buying something using crypto—a house, a car, a new suit of clothes—can trigger taxes. Even paying taxes in crypto can trigger taxes. The tax paradox started when the IRS ruled that cryptocurrency is property in Notice 2014-21. That classification has some big tax consequences, accentuated by wild price swings. If you
To determine which places have experienced the biggest growth in employment, we used the Bureau of Labor Statistics’ Current Employment Statistics (CES) to analyze nonfarm payrolls from 389 of the largest metro areas in the U.S., in terms of their one-year growth (May 2020 to 2021 and June 2020 to 2021) in absolute numbers and
In this article PFE People walk by the Pfizer world headquarters in New York on November 9, 2020. Kena Betancur | AFP | Getty Images Pfizer said Wednesday it will require all its U.S. employees and contractors to get vaccinated against Covid-19 or participate in regular weekly testing. The new initiative will “best protect the
In this article RCL Royal Caribbean International’s Anthem of the Seas cruise ship calls at Greenock port on July 22, 2021 in Greenock, Scotland. Jeff J Mitchell | Getty Images Royal Caribbean International reported a second-quarter loss on Wednesday that was wider than analysts were anticipating, as the spread of the delta coronavirus variant slowed
In this article GM LYFT HOOD Omar Marques | LightRocket | Getty Images Check out the companies making headlines in midday trading. Robinhood Markets — Robinhood shares rose in wild trading as the newly public online brokerage zoomed past its IPO price of $38 per share. The brokerage app surpassed its IPO debut volume of
Theranos founder Elizabeth Holmes leaves the Robert F. Peckham Federal Building with her defense team in downtown San Jose, Calif., on Tuesday, May 4, 2021. MediaNews Group/The Mercury News via Getty Images | MediaNews Group | Getty Images Elizabeth Holmes, the embattled former CEO of blood-testing start-up Theranos, was dealt a major blow on Wednesday
Vanguard signage at a Morningstar Investment Conference. M. Spencer Green | AP Vanguard is offering its employees $1,000 to get vaccinated against Covid-19, the company has confirmed. The asset management giant follows Facebook, Google, Microsoft and other employers calling on workers to get the coronavirus vaccine amid growing concerns about the fast spread of the
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