Billionaire casino mogul and hotelier Steve Wynn once called this Lake Tahoe estate home. Now, it’s listed by another owner for $76 million. Wynn built this estate, known as The Old Forge – Wynn Estate, in 1994. While the former hotelier, who resigned as chairman and CEO of Wynn Resorts WYNN in February 2018 after
Month: September 2023
An uncaptioned image posted on the company’s website appears to show Starshield technology in orbit. SpaceX The Pentagon has awarded Elon Musk’s SpaceX its first confirmed contract for the Starshield network it’s developing, a military-specific version of the company’s Starlink satellite internet system, the defense agency said Wednesday. A Space Force spokesperson confirmed that SpaceX
Bloomberg Creative | Bloomberg Creative Photos | Getty Images A government shutdown looms over this coming weekend. If it does occur, a shutdown would pose far-reaching and potentially severe financial risks for American households. Those risks — everything from delayed paychecks and federal benefits to long waits at airports and skeleton customer service crews at
The Micron Technology Inc. offices in Shanghai on April 6, 2023. Qilai Shen | Bloomberg | Getty Images Check out the companies making headlines in extended trading. Micron Technology — The chip stock slid 4% in extended trading after Micron offered weaker-than-expected earnings guidance for the current quarter. Micron said to expect a loss of
Sequoia Capital managing partner Roelof Botha has a strategy for making tough decisions. The longtime venture capital investor honed it through decades of experience helping early-stage tech companies like YouTube and Instagram grow into industry giants. He repeatedly watched CEOs get stuck when trying to choose between two options, and it taught him a lesson.
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, September 26, 2023. Brendan McDermid | Reuters A majority of Wall Street investors didn’t take solace in stocks’ 2023 gains, thinking the market could retreat further as risk for a recession creeps up, according to the new CNBC Delivering Alpha investor
Simplifying and streamlining our portfolios and the rest of our finances should be an estate planning priority as we age. I learned this firsthand when I took over management of my parents’ finances. I was fortunate that my parents were still around and alert when I took over, so they could explain some things, sign
Recent tax acts don’t change trader tax status (TTS), Section 475 MTM accounting, wash-sale losses on securities, or the tax treatment on financial products, including futures (Section 1256 contracts) and cryptocurrencies (intangible property). It’s helpful to consider IRS inflation adjustments in income and capital gains tax brackets, various income thresholds and caps, retirement plan contribution
All over the U.S., developers, architects, environmentalists, history buffs, employers, renters, homeowners and countless others are coming to one realization. Adaptive reuse holds the power to transform urban environs like few other projects. The benefits of converting age-old structures to new and different uses are compelling. Adaptive reuse represents a more sustainable means of creating
Senator Jeff Merkley, a Democrat from Oregon, speaks during a news conference at the U.S. Capitol in Washington, D.C., on Jan. 25, 2020. Zach Gibson | Bloomberg | Getty Images A new bill that aims to give the marijuana industry access to banking services is expected to move forward in the Senate on Wednesday. The
After a prolonged period of high inflation and higher interest rates, Americans are just getting by. As of August, 60% of adults said they are living paycheck to paycheck, according to a new LendingClub report, unchanged from last year. Recent data is painting a mixed picture of where the economy stands. Inflation has shown some signs of cooling but the
Minneapolis Federal Reserve President Neel Kashkari said Wednesday he’s unsure whether the central bank has raised interest rates enough to tame inflation. Speaking one day after he penned an essay suggesting that rates may have to go “meaningfully higher” from here in order to bring down prices, Kashkari told CNBC that the neutral rate of
The first big issue for a Medicare beneficiary is whether to enroll in original Medicare or a Medicare Advantage plan. The decision can be reviewed each year during the open enrollment period, which runs from October 15 through December 7. A major difference between original Medicare and Medicare Advantage is most Advantage plans require prior
When Robert Merton, MIT finance professor and Economics Nobel laureate, speaks, we should listen. Fifty years ago, Merton, together with Fisher Black and Myron Scholes, developed the Black-Scholes-Merton option pricing formula. When these three finance geniuses derived their remarkable equation, there was no formal option market. These days, 39 million option contracts are bought and
Porto Cervo, a seaside resort along Italy’s Costa Smeralda on the island of Sardinia, is exactly what it was intended to be. The central town and surrounding swath of the Emerald Coast were founded by Prince Karim Aga Khan and investors beginning in the 1960s as an upscale tourist destination. The development became a favorite
A worker makes clothes at a garment factory that supplies Shein, in Guangzhou, China. Shein is set to produce goods in Brazil for the Latin American market, instead of shipping them from China. Jade Gao | AFP | Getty Images Fast-fashion retailers like Zara, Shein and H&M are using resale platforms to reduce their carbon
A student debt relief activist outside the U.S. Supreme Court on June 30, 2023. Kevin Dietsch | Getty Images Two big events could soon coincide: The U.S. federal government is poised to shut down just as student loan bills restart after a pause of more than three years. With lawmakers thus far unable to strike
Neel Kashkari, President and CEO of the Federal Reserve Bank of Minneapolis, attends an interview with Reuters in New York City, New York, U.S., May 22, 2023. Mike Segar | Reuters Minneapolis Federal Reserve President Neel Kashkari thinks there’s nearly a 50-50 chance that interest rates will need to move significantly higher to bring down
Living, buying property, doing business, and investing overseas come with challenges, including some you might not expect. Chief among the roadblocks you might not be prepared for is corruption. Transparency International produces an annual index. On it, Canada, the United States, Australia, New Zealand, the U.K., Japan, most of Europe, and Uruguay rank as among
Garrett Brodeur, a tax attorney based in Washington, D.C., discusses the recently released proposed regulations for the cryptocurrency industry and their potential effect on digital asset transactions. 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 International. This
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