TOPLINE Senate Republicans unveiled a new coronavirus relief proposal Monday that would replace the extra weekly $600 unemployment aid (which end this week) with a 70% wage-replacement program—but state labor departments are scrambling to figure out how their overwrought systems would handle the payments. House Speaker Nancy Pelosi (D-Calif.) called for an extension of unemployment
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TOPLINE The market finished higher on Wednesday as investors cheered the Federal Reserve’s decision to keep interest rates near zero and shares of Big Tech stocks rallied. Federal Reserve Chairman Jerome Powell at a House testimony last month. Tasos Katopodis/Getty Images KEY FACTS The Dow Jones Industrial Average was up 0.6%, over 150 points, on
Sen. Mitt Romney, R-Utah, stops to speak to reporters as he arrives for the Senate Republicans weekly lunch on Tuesday, June, 9, 2020. Bill Clark | CQ-Roll Call | Getty Images While Washington lawmakers negotiate over how much money to inject into a U.S. economy battered by Covid-19, one group of politicians hopes to also
As Jeff Bezos defends Amazon‘s largess in front of the U.S. House Committee on the Judiciary on Wednesday (“Just like the world needs small companies, it also needs large ones,” his prepared remarks read), his ex-wife MacKenzie Scott has announced an update on her own efforts to dismantle the mountain of money and privilege on which
TOPLINE President Trump on Wednesday promised U.S. suburban residents that the value of their homes would not be impacted by crime or the construction of low-income housing after an Obama-era rule designed to limit housing segregation was ended last week, the culmination of years of deregulation effort by Trump and a reported appeal to suburban
This four-bedroom home in Truckee, CA., near Lake Tahoe, went on the market for $1.65 million and sold less than 24-hours later for $2 million. Overall and Hamilton Lake Tahoe real estate is getting snapped up at a record pace, as San Francisco tech workers flee the city in search of more space and a
General Motors Chairman and CEO Mary Barra on April 1, 2020 tours one of the company’s facilities in Warren, Michigan that will produce Level 1 face masks. GM General Motors is set to report its second-quarter earnings before the bell on Wednesday as the automaker attempts to recover from the coronavirus pandemic that’s shuttered factories
The Robinhood crowd has a new favorite speculative stock: Eastman Kodak. In the last 24 hours, more than 20,000 users have added the stock to their portfolio, making it by far the most popular stock on the millennial-favored trading app according to data from Robintrack, which tracks user activity but is not affiliated with the
getty This past June, the Department of Labor (“DOL”) released new guidelines regarding the proper use of incorporating Environmental, Social, and Governance (“ESG”) factors in determining the investments within a retirement plan covered by ERISA. This hasn’t gone over well with ESG advocates. Aron Szapiro, director of policy research for Morningstar MORN , recently wrote,
Robert Goulder, contributing editor at Tax Notes International, and Joseph J. Thorndike, contributing editor at Tax Notes Federal, discuss the recent Supreme Court decisions on the release of Trump’s financial records. Here are a few highlights . . . On the historical perspective of presidential subpoenas Joseph J. Thorndike: These issues go way back to the early days
fstop123 | E+ | Getty Images This summer, more than a dozen states are offering shoppers a back-to-school sales tax break. Whether it’ll be enough to draw legions of parents to mom-and-pop shops amid a pandemic is looking iffy. Depending on the state where you’re shopping, you can knock off anywhere from 4% (Alabama) to
Kellie Rastegar is Co-Founder and Creative Director at Rastegar Property Group. getty Multifamily housing is known as a recession-resilient investment. However, during black swan events like the Covid-19 pandemic, landlords across the country are nervous about the potential for an influx of late payments. It’s estimated that 11% of renters across the country fell behind on
A pedestrian walks past a Victoria’s Secret storefront closed and boarded up on Robson Street during the COVID-19 crisis on April 17, 2020 in Vancouver, Canada. Andrew Chin | Getty Images Victoria’s Secret owner L Brands said Tuesday it is preparing to cut 15% of its corporate workforce, or about 850 jobs, in a bid to trim
A Starbucks Coffee in Harlem is closed, as retail sales suffer record drop during the outbreak of the coronavirus disease (COVID-19) in New York, April 15, 2020. Bryan Smith | Reuters Starbucks swung to a loss during its fiscal third quarter as its same-store sales plunged 40% in the wake of the coronavirus pandemic. But the
Check out the companies making headlines after the bell: Starbucks — Shares of the coffee giant jumped 5% in extended trading after the company posted its third-quarter financial results. The company reported a third-quarter loss of 46 cents per share excluding some items on revenues of $4.22 billion. Analysts surveyed by Refinitiv expected as a loss of
Are there cases when the amount of guaranteed income can be decreased? Generally, if an annuity contract states that a guaranteed income level remains for life then this is the case as long as distributions do not exceed the guaranteed levels. But some annuity providers make clear that there is an option to receive more
The United States Capitol building at sunset, Washington DC, USA. getty One of the drumbeats of the current Congress is the need to be more fiscally responsible. That makes sense. Our current national debt is $26,536,793,171,015 – and growing. The federal deficit - so far for 2020 – is $2.744 trillion. That’s following a Congressional Budget Office
Spencer Platt | Getty Images News | Getty Images Medicare beneficiaries would get a reprieve on higher Part B costs next year in the coronavirus relief package proposed by Republicans in the Senate on Monday. Under the provision included in the GOP proposal, called the HEALS Act, premiums for Medicare Part B in 2021 — which
Real estate agents could have their license revoked if they engage in racial discrimination on the … [+] job. getty After a newspaper investigation uncovered widespread race-based discrimination in the Long Island housing market, New York has passed a bill that puts a real estate agent or broker’s license on the line if they are
The Child, popularly known as “Baby Yoda,” is a character in the new Disney+ series, “The Mandalorian” Episodic Photos, Disney While “Watchmen,” “Marvelous Mrs. Maisel” and “Schitt’s Creek” secured Emmy nominations on Tuesday, there were quite a few shows — and actors — that didn’t make the cut. And then there were the shows and performers that