Getty Images By now, you probably know that prices for new cars have been climbing at a brisk pace, along with many other consumer goods, in the midst of high inflation. The average cost of a car is an estimated $45,869, according to a recent joint forecast from J.D. Power and LMC Automotive. Adding to
Month: August 2022
Billionaire tech entrepreneur Larry Ellison is parting with one of his oceanfront Palm Beach homes. After purchasing this 6.5-acre property in April 2021 for $80 million, he is now listing it for a whopping $145 million. The property is located in the ultra-exclusive enclave of Seminole Landing, a high-security gated community of 65 sprawling homes
The Inflation Reduction Act (IRA) approved by Congress last week included a new 1 percent stock buyback excise tax on US publicly traded corporations. Many of these companies now spend their excess cash to repurchase stock from their shareholders, rather than pay dividends or invest more in their firms. The new tax will discourage repurchases
Topline Despite analyst warnings about “unrealistic” valuations, shares of Bed Bath & Beyond surged up to 70% on Tuesday as retail investors from Reddit’s WallStreetBets piled into the stock after being encouraged by yet another big purchase from activist investor and GameStop chairman, Ryan Cohen. Key Facts Bed Bath & Beyond’s stock surged by as
Walmart CEO Doug McMillon said even wealthier families are penny-pinching as inflation drives up the price of groceries. In an interview on CNBC’s “Squawk on the Street” on Tuesday, the leader of the nation’s largest grocer said sales in the fiscal second quarter got a lift from new customers and more frequent trips from households
In this article WMT A shopper wearing a protective mask shops in a Walmart store on May 18, 2021 in Hallandale Beach, Florida. Joe Raedle | Getty Images Walmart on Tuesday said sales grew more than 8%, but profits tightened in the fiscal second quarter, as consumers turned to the discounter for groceries and essentials.
A Bed Bath & Beyond store is seen on June 29, 2022 in Miami, Florida. Joe Raedle | Getty Images News | Getty Images Bed Bath & Beyond shares soared on Tuesday as retail traders active on social media piled into the stock, encouraged by news that GameStop chairman Ryan Cohen placed another bet on the
In this article CMCSA Mark Hoffman, Chairman of CNBC Mark Hoffman, CNBC’s president since 2005 and chairman since 2015, announced Tuesday he will step down on Sept. 12. Hoffman is leaving of his own accord. NBCUniversal hired Cesar Conde to oversee NBC News, MSNBC and CNBC in May 2020 to bring more centralized leadership to the group.
Sometimes a life raft can look a lot like a credit card. In an economy that has produced the highest inflation rate since the early 1980s, Americans are struggling to keep up with day-to-day expenses and are increasingly relying on credit cards to stay afloat. Amid a dramatic rise in the cost of living, credit card balances jumped 13% in
The Chantilly Campus of ITT Technical Institute sits closed and empty on Sept. 6, 2016, in Chantilly, Virginia. The Washington Post | The Washington Post | Getty Images The U.S. Department of Education announced Tuesday that it will cancel all remaining federal student debt taken on by borrowers who were defrauded by ITT Technical Institute
Topline New housing starts unexpectedly plunged more than economists projected in July—and to the lowest level in more than a year—as home builders grappled with dwindling demand for new homes, and though some experts remain optimistic the market could be due for a quick recovery, others are only increasingly bearish. Key Facts The number of
Here’s a description from Emily (not her real name) of Social Security’s misestimate of her widows benefit and its failure to pay her the spousal benefit she was owed when her husband was alive. With my personal financial planning software company’s help, a brilliant staffer finally got it 100 percent right! Here’s a description from
If you know anything about 401(k)s, IRAs, and HSAs, you probably know that the first two are for retirement savings, and the last is for health care expenses. However, these accounts are actually more versatile than they may seem. Here are some unconventional ways to use some of these tax-advantaged accounts: Roth IRA as Emergency
In this article KHC ULVR-GB CAG PG TGT WMT A woman shops in a supermarket as rising inflation affects consumer prices in Los Angeles, California, June 13, 2022. Lucy Nicholson | Reuters Long before shoppers fill up their carts with hot dogs or detergent, supermarkets and suppliers negotiate — and sometimes clash — over how
In this article GPRE RVLV CMCSA BABA Vroom IPO at the Nasdaq site, June 9, 2020. Source: Nasdaq Check out the companies making headlines before the bell: Poshmark — Shares spiked more than 5% after Barclays upgraded the online fashion retailer to overweight from equal weight. Poshmark will get a boost from the fast-growing second-hand
Rep. John Larson, D-Conn., and other lawmakers discuss the Social Security 2100 Act, which would include increased minimum benefits, on Capitol Hill on Oct. 26, 2021. Drew Angerer | Getty Images News | Getty Images Social Security crossed a new milestone when it reached its 87th anniversary on Sunday. The program was signed into law
With the passage of the Inflation Reduction Act of 2022 (H.R. 5376), Congress created a credit for clean vehicle technology for which few, if any, vehicles on the market qualify. That has troubled the industry, but if a credit is intended to encourage the development and adoption of a new technology so that it can
Topline While the Federal Reserve has made progress cooling the economy, there has still been “little convincing progress” in bringing down wage growth and high inflation, according to analysts at Goldman Sachs, who predict that it will remain difficult for the central bank to get surging prices under control without a recession. Key Facts Markets
In this article PARA WMT In this photo illustration, a woman’s silhouette holds a smartphone with the Walmart logo displayed on the screen and in the background. Rafael Henrique | Lightrocket | Getty Images Walmart has reached a deal to offer Paramount Global‘s streaming service as a perk of its Walmart+ membership program, the companies
In this article WFC There may be no escape from recession. The latest reports on housing and manufacturing, according to investor Peter Boockvar, suggest it’s rapidly spreading to other parts of the economy. “People are not being sensitive enough to this economic slowdown and what it’s going to be mean for corporate earnings and profit
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