The Chinese consumers’ expensive taste is driving growth of the luxury market and fueling a boom in luxury five-star hotels in cities across China. The number of wealthy Chinese recently surpassed the number of wealthy Americans, according to Credit Suisse. The survey found 100 million Chinese in the world’s top 10% of richest people, while
An aerial photo shows Boeing 737 MAX aircraft at Boeing facilities at the Grant County International Airport in Moses Lake, Washington, September 16, 2019. Lindsey Wasson | Reuters Boeing will still burn more than $1 billion a month even after halting 737 Max production, according to J.P. Morgan. Boeing’s decision to stop suspend production of
Santa Claus putting a lump of coal in Congress’s Christmas stocking. Getty The House of Representatives earlier this afternoon passed two bills to provide $1.4 trillion in funding for defense and non-defense spending programs that must be appropriated on an annual basis. As is often the case with must-pass legislation at the end of the
Getty It’s the fourth day of my 12 Days of Charitable Giving for 2019. Readers have suggested deserving charities over the past few weeks, and I’ll be posting the results here. Today’s charity is Food To The Rescue (FTTR). According to recent studies, one in five children in Middle Tennessee does not know where their
Dining room CARY HOROWITZ Ex-Bear Stearns co-president is still trying to unload his historic, double-wide mansion in Greenwich Village. Having listed the house for $59.5 million several times since February 2017, the price was dropped to $50 million last week. The property has a storied history in finance, along with academia, that dates back to
Phil Roeder Americans are likely losing a popular retirement tax strategy next year that allows the wealthy to leave large inheritances in retirement accounts. Several retirement provisions were tucked into a bipartisan $1.4 trillion spending package that federal lawmakers must pass by Friday to avoid a government shutdown. Among the many items in the bill
A Prime Air cargo plane, operated by Amazon.com Inc., sits on display with other passenger jets during the 53rd International Paris Air Show at Le Bourget, in Paris, France. Jason Alden | Bloomberg | Getty Images Amazon is turning to an unlikely partner to help expand its package-delivery business: a low-cost airline. Sun Country Airlines,
A FedEx plane is parked at Ontario International Airport on February 4, 2019. Check out the companies making headlines after hours on Tuesday: FedEx — Shares of the shipping giant fell nearly 7% in extended trading on Tuesday after the company posted weaker-than-expected earnings. In the company’s second quarter, FedEx reported adjusted earnings per share
With tourism taking a toll on the environment, more luxury tour operators than ever are now offering eco-friendly alternatives for travelers. This is especially true in the remote South American region of Patagonia. Shared by Chile and Argentina, Patagonia runs along the southern range of the Andes Mountains. The area is famed for its four-seasons-in-a
It’s breakfast time in Flaxville, Montana. The thermometer says it’s four degrees, but the Weather Channel says it feels like minus 3. Paul Kanning is trudging through the snow to grain bins on his nearly 3,000 acre farm. One is stuffed with dry yellow peas. “I don’t know where they’re going yet this year,” he
Share to facebook Share to twitter Share to linkedin Holidays are a notorious time for financial fraud. Scammers capitalize on the generosity of their targets, particularly seniors. What can families do to give their older loved ones, especially aging parents a greater measure of financial safety? The World Health Organization estimates that one in six
Well, it’s interesting to see Mormons back in the tax news. The Washington Post has a story about a whistleblower’s disclosures to the IRS that Ensign Peak Advisors, Inc, founded in 1997, has accumulated over $100 billion in assets without ever making any charitable distributions. The only two outflows appear to have been to bail
Topeka, Kansas is among a growing list of places offering financial incentives to attract new … [+] residents. The Greater Topeka Partnership Have you ever looked on a map and wondered where else you might want to live? You might want to consider Topeka, Kansas. Under a pilot program called Choose Topeka, the capital city
U.S. President Donald Trump speaks during a roundtable on small business at the White House in Washington, D.C., U.S, on Friday, Dec. 6, 2019. Kevin Dietsch | Bloomberg | Getty Images The Supreme Court will determine next year whether investigators may finally get a glimpse at President Donald Trump’s tax returns. The court said on
President Donald Trump looks on during a discussion after delivering his speech during the World Economic Forum (WEF) annual meeting on January 26, 2018 in Davos, eastern Switzerland. / Fabrice Coffrini | AFP | Getty Images After skipping a gathering of the world’s most elite in Davos, Switzerland last January, President Donald Trump will attend
An Eli Lilly & Co. logo is seen on the cap of a pill bottle in this arranged photograph at a pharmacy in Princeton, Illinois. Daniel Acker | Bloomberg | Getty Images Eli Lilly on Tuesday forecast a higher-than-expected profit for 2020, citing growing demand for its medicines including diabetes drug Trulicity and psoriatic arthritis
Kevin Lamarque | Reuters On Nov. 25, 2008, the Federal Reserve launched the shot heard around the financial world. The U.S. central bank announced it would start using digitally created money to buy mortgage debt in an effort to drive down interest rates and resuscitate a dead housing market. Along with a series of cuts
CNBC’s Jim Cramer said on Tuesday that Sen. Elizabeth Warren missed her chance to court ultra-wealthy voters who may have naturally supported her 2020 presidential run. “She’s scared people, and that’s why I think people are flocking to other candidates,” Cramer said, referring to Warren’s bank-bashing and wealth-taxing proposals. The Massachusetts Democrat, who has recently
Meat prices are rising following a pork shortage caused by the outbreak of African Swine Fever, which could create a spike in demand for plant-based products like Beyond Meat, Bernstein said Tuesday. African Swine Fever continues to spread in China, which is a significant piece of the worldwide the pork trade. Bernstein said the country
©relif – stock.adobe.com How to use a simple hedge fund technique to your benefit I am not a tax advisor, and this is not tax advice per se. However, I am a portfolio manager. And, my core approach is similar to what the early hedge funds did, before the term “hedge fund” became an oxymoron.