In this article TRU Follow your favorite stocksCREATE FREE ACCOUNT From credit cards to mortgages, it’s suddenly a lot more expensive to borrow money. The Federal Reserve has raised its benchmark short-term rate 3 percentage points since March in an effort to curb unrelenting inflation, with another rate hike likely on the way next week. “Borrowers are feeling
Month: October 2022
Suddenly, Social Security reform is back in the news. For all the wrong reasons, perhaps. But at least politicians are talking about it. And that’s a good thing. After all, in only about a dozen years, the Social Security program’s old-age trust fund — the account covering retirees and survivors — will be insolvent and
If you have young grandchildren, take a fresh look at 529 education savings plans. These plans always were good estate planning tools, but changes in recent years make them more attractive ways for grandparents to help grandchildren. You can set up a 529 savings plan account for any beneficiary, and you can set up accounts
Immigrant entrepreneurs play a crucial role in innovation and job creation in the United States. “Immigrants have started more than half (319 of 582, or 55%) of America’s startup companies valued at $1 billion or more,” according to a recent report from the National Foundation for American Policy. Veev, a successful housing technology firm, is
Credit Suisse on Thursday posted a quarterly loss that was significantly worse than analyst estimates, as it announced a massive strategic overhaul. The embattled lender posted a third-quarter net loss of 4.034 billion Swiss francs ($4.09 billion), compared to analyst expectations for a loss of 567.93 million Swiss francs. The figure was also well below
Izusek | E+ | Getty Images Consumers are funneling money into annuities as the stock market tanks and higher interest rates raise payouts for buyers. Annuity sales in the third quarter of 2022 approached $80 billion, just edging out the $79.4 billion record set in Q2, according to estimates published by Limra, an insurance industry
In this article MCD Follow your favorite stocksCREATE FREE ACCOUNT McDonald’s restaurant sign is seen in Streator, Illinois, United States, on October 15, 2022. Beata Zawrzel | Nurphoto | Getty Images McDonald’s is due to report its third-quarter earnings before the bell on Thursday. Here’s what Wall Street analysts surveyed by Refinitiv are expecting: Earnings
In this article BA Follow your favorite stocksCREATE FREE ACCOUNT Boeing reported a $3.3 billion quarterly loss Wednesday as problems in its defense unit countered strides in its commercial aircraft business. The manufacturer, however, generated nearly $3 billion in free cash flow in the three months ended Sept. 30, up from outflows of $507 million
Bradley Williams “absolutely hated” his first job after graduating from college. The 28-year-old said the office environment wasn’t for him — and he quit in three months. Williams’ girlfriend, Cazzy Magennis, had just finished her degree at the University of Exeter, where they met. While their friends were starting their careers in London, Williams and
By Rashelle Brown, Next Avenue With inflation running especially high in recent months, we’ve all felt the pinch a little more than usual. But glance back in time and you will see that life’s staples have become more expensive throughout history. It’s a trend not likely to end in our era, and a phenomenon more
Wedding photographer Scott Burton of Oxford MS was not charging sales tax on his wedding packages. To a couple facing say a $5,000 tab for his service, you could see tacking on another $350 for the 7% Mississippi sales tax would make a difference. Unfortunately, on audit the Mississippi Department of Revenue (MDOR) determined that
For the first time since it was built, the home of a famed audiophile inventor is for sale. Nestled in the Altadena foothills north of Pasadena, the five-bedroom, five-bath house encompasses 4,162 square feet and is set on one acre of land. Donald James Leslie, who passed away in September of 2004 at age 93,
A logo of Meta Platforms Inc. is seen at its booth, at the Viva Technology conference dedicated to innovation and startups, at Porte de Versailles exhibition center in Paris, France June 17, 2022. Benoit Tessier | Reuters Check out the companies making headlines after the bell: Meta Platforms — The Facebook parent plunged more than
PeopleImages Federal regulators on Wednesday adopted rule changes intended to make it easier for consumers to understand what they’re invested in and how much it’s costing them. Under amendments approved by the Securities and Exchange Commission, investment company ads will need to promote “transparent and balanced presentations” of fees and expenses. Additionally, shareholder reports from
In this article SKX Follow your favorite stocksCREATE FREE ACCOUNT Ye, formerly known as Kanye West, was escorted out of the Los Angeles office of shoemaker Skechers, the company said Wednesday afternoon, as the fallen rapper and fashion mogul continues to face fallout from his recent antisemitic remarks. Ye showed up unannounced and was escorted
In this article F Follow your favorite stocksCREATE FREE ACCOUNT 2023 Ford F-150 Raptor R Ford DETROIT – Ford Motor recorded a net loss of $827 million during the third quarter, weighed down by supply chain problems and an investment in autonomous vehicle unit Argo AI. Still, the automaker narrowly beat Wall Street’s subdued expectations
nd3000 | iStock | Getty Images Despite signs of a cooling housing market, home prices are still relatively high, resulting in bigger down payments. Over the past year, average down payments in the country’s 50 biggest metros have grown by more than 35%, according to a LendingTree report, based on 30-year fixed-rate mortgage data from
Traders on the floor of the NYSE, Oct. 21, 2022. Source: NYSE Professional stock pickers are still betting that the U.S. economy could skirt a recession, according to Bank of America analysis. Actively managed mutual funds have maintained their pro-cyclical stance with overweights in consumer discretionary and industrials, while having a sizeable underweight in consumer staples,
By Gary M. Stern, Next Avenue Robert, the older brother, and Lon, the younger one, were close as they were growing up in the Queens borough of New York City. But when their mother passed away and left the bulk of her estate to Robert, Lon was devastated. Feeling betrayed by his mom and livid
U.S. Tax Court Chief Judge Kathleen Kerrigan discusses the court’s post-COVID transition and case management system, and how the additional funding from the Inflation Reduction Act may be used. This transcript has been edited for length and clarity. David D. Stewart: Welcome to the podcast. I’m David Stewart, editor in chief of Tax Notes Today
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