Inflation may have started to ease, but it remains well above most consumers’ comfort level, and spending has slowed considerably, recent reports show. The core consumer price index for May was at 5.3%, while the personal consumption expenditures price index increased just 0.3% for the month when excluding food and energy. “The bottom line is everybody is
Month: July 2023
Sturti | E+ | Getty Images The U.S. job market is gradually cooling but remains hot despite a year-long government campaign to reign it in, amounting to a favorable environment for many jobseekers, economists said. “It still boils down to higher worker leverage, better outside opportunities, an easier time exchanging jobs for better ones and
Celebrating America’s birthday in the company of foreigners can be great fun. I recently spent the Fourth of July with some British expats who live in Washington, D.C., and love it here. While awaiting the fireworks, we joked about the many ways our countries’ cultures differ. My guests remarked that we Americans support the wrong
A “For Sale” sign outside a house in Albany, California, on Tuesday, May 31, 2022. David Paul Morris | Bloomberg | Getty Images Mortgage rates last week hit their highest level since the end of May, which in turn weighed on mortgage demand. Total mortgage application volume dropped 4.4% last week compared with the previous
Qatar Airways logo is seen on a plane model. Nurphoto | Nurphoto | Getty Images Qatar Airways announced record annual revenue Thursday after the company’s finances were bolstered by the FIFA World Cup, which was hosted in Qatar last year. Qatar Airways Group reported that passenger revenue was up 100% during its fiscal year 2022/23,
U.S. Treasury Secretary Janet Yellen landed in Beijing July 7 on a four-day trip aimed at finding common ground for a mutually beneficial economic relationship between the world’s two largest economies. Kevin Dietsch | Getty Images News | Getty Images Treasury Secretary Janet Yellen landed in Beijing Thursday on a four-day trip aimed at finding
Damircudic | E+ | Getty Images Scammers are likely to target student loan borrowers after the Supreme Court struck down the Biden administration’s debt forgiveness plan Friday and as loan repayments are poised to restart in the fall, according to the Federal Trade Commission. Scammers often “take advantage of confusion around big news like this,”
During the second quarter of 2023, New York City’s real estate market has been as volatile as our stock market. While the market for ultra-luxury apartments, both condo and co-op, has remained slow, the smaller units, which were having a run in April and much of May, have now sunk into the doldrums as well.
The IRS Electronic Tax Administration Advisory Committee (ETAAC) has released its 2023 Annual Report to Congress. The report looks at e-filing practices and data security and makes recommendations to both Congress and the IRS that focus on electronic tax administration and cybersecurity. Background ETAAC was formed and authorized under the IRS Restructuring and Reform Act
In this article JBLU AAL Follow your favorite stocksCREATE FREE ACCOUNT American and JetBlue flights prepare to take off at Los Angeles International Airport, Jan. 11, 2023. Carolyn Cole | Los Angeles Times | Getty Images JetBlue Airways said Wednesday that it will end its partnership in the northeast U.S. with American Airlines after a
In this article META MRNA WOLF DWAC Follow your favorite stocksCREATE FREE ACCOUNT Meta Verified displayed on mobile with Meta on screen, seen in this photo illustration, on February 27, 2023 in Brussels, Belgium. Jonathan Raa | Nurphoto | Getty Images Check out the companies making headlines in midday trading. Meta Platforms — Shares of
Travelers looking for a three-Michelin-starred meal in Andalusia will inevitably end up at Aponiente. It’s the only restaurant in the region with the distinction. The restaurant, located in the heart of the Bahia de Cadiz Natural Park, is helmed by Chef Angel Leon. Unlike most Michelin-starred restaurants where seasons inform the menu, Leon’s muses are
“Honestly, I think the prompt irritates most people,” said Lyn James, the owner of Flowers & Cappuccino by Lasting Visions in Bowman, North Dakota. James said that’s why she opted out of the tip screen when she implemented her store’s contactless point-of-sale system. Although gratuity can vary greatly, “most folks will leave at least a
Treasury and the IRS promised to release guidance on direct pay and transferability “before summer,” and with proposed regs (REG-101610-23) issued June 14, they met their deadline admirably. Announcing a precise time frame for when proposed rules will be released is less important than their substance, but it’s still a practice that the IRS and
In this article GM Follow your favorite stocksCREATE FREE ACCOUNT 2024 Chevrolet Silverado HD ZR2 GM DETROIT – General Motors’ U.S. vehicle sales increased by 18.8% in the second quarter compared to subdued results a year ago when the automaker was battling supply chain issues. The Detroit automaker reported sales Wednesday of 691,978 new vehicles
Almost all Federal Reserve officials at their June meeting indicated further policy tightening is likely, if at a slower pace than the rapid-fire rate increases that had characterized monetary policy since early 2022, according to minutes released Wednesday. Policymakers decided against a rate increase amid concerns over economic growth, even though most members think further
Vesna Andjic | E+ | Getty Images Higher earners are more likely to owe an extra levy on investment earnings than a decade ago. But there are ways to reduce your tax bill, experts say. Enacted as part of the Affordable Care Act health-care expansion, the 3.8% net investment income tax applies to capital gains,
Over-regulation and the systemic lack of new housing in New York City have created an opportunity for investors in free-market multifamily assets. In this article, we review emerging investment trends, underlying fundamentals and drivers. We also have some recommendations for smaller investors. Investor’s Shift: Regulation Effect #1 Market rate apartments, which make up 45% of
Most people do not like to talk about death. But an important part of your financial health is what happens to your Social Security benefits when a spouse passes away. To qualify for Survivor Benefits: Survivor needs to be at least 60 and not married, or 50 if disabled You need to be married at
IRS audits of businesses claiming the Employee Retention Credit (ERC) are in full swing. The IRS is looking at companies who may be unfairly claiming it, and also at firms promoting assistance to them who the IRS thinks may be bending the rules. Congress provided vast pandemic tax relief in various forms. One of the
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