Prasit photo | Moment | Getty Images The U.S. wealth management industry is poised to grow by about 5% annually over the next five years, while certain segments of the investor population are positioned to see the biggest boost, according to a new report from McKinsey & Company. Three investor sub-groups, in particular, are showing
Circle, the firm behind the stablecoin USDC, has doubled its valuation to $9 billion following a new deal with blank-check company Concord Acquisition Corp. The two companies first revealed their plans to merge in July, in a deal that at the time valued Circle at just $4.5 billion. They have now updated the terms of
Getty Images Just months after a federal $15 minimum wage failed to take shape, Californians may get the chance to vote on even higher minimum hourly pay. A measure to raise the state’s minimum wage to $18 began to collect signatures in February. If the campaign, called the Living Wage Act of 2022, gets 700,000
A new climate change catastrophe report by CoreLogic, a real estate data analytics provider, takes a look at how many homes were affected in 2021 by hurricanes, severe weather, winter storms and wildfires and warns of the high price tag of property damage or loss. A natural hazard can not only devastate a community but
Today’s Social Security column addresses questions about whether early retirement benefits would also require early survivor’s benefits, when it might be best to file for divorced spousal benefits and spousal benefits for people born in 1954 and later. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic
In this article AIR-FR A model of one of Airbus’ ZEROe concept aircraft displayed in Hamburg, Germany, on 18 January 2022. Marcus Brandt/dpa | picture alliance | Getty Images Aviation could face substantial challenges if it’s unable to decarbonize in a timely manner, according to the CEO of Airbus, who added that hydrogen planes represent
In this article PLTR Palantir Technologies CEO Alex Karp arrives at the “Tech for Good” Summit in Paris, France May 15, 2019. Charles Platiau | Reuters Shares of Palantir fell more than 13% on Thursday morning after the company reported mixed earnings results for the fourth quarter. Here are the key numbers: Earnings per share
David Solomon of Goldman Sachs Andrew Harrer | Bloomberg | Getty Images Goldman Sachs CEO David Solomon took a moment to bask in his firm’s recent performance before raising the company’s medium-term financial targets. Solomon on Thursday reminded the audience at a Credit Suisse conference that back in 2020, at Goldman’s first-ever Investor Day, he
In this article KER-FR Shoppers wait in line to enter a Gucci store on Fifth Avenue in New York, U.S., on Saturday, May 22, 2021. Victor J. Blue | Bloomberg | Getty Images LONDON — The chief executive of French luxury group Kering expects fashion label Gucci to continue to deliver growth for the company
When purchasing a new car these days, it may feel a lot like you’re giving your dealership a fat tip. To that point, 82% are paying above sticker price for new vehicles, according to new research from Edmunds.com. That compares to 2.8% a year ago and 0.3% in early 2020. Amid the auto industry’s persisting
Renowned architect John F. Kelsey left his mark throughout Southern California. Perhaps most famously, he partnered with USC classmate Thornton Ladd to create what is now known as Pasadena’s Norton Simon Museum. Their shared belief was that space can be art too. The curving lines of the walkway, the landscaping and an old oak provide
By Ryan Finley At the end of the Tax Court’s 2016 opinion in Medtronic, a short section briefly summarizes and summarily rejects what the opinion describes as the IRS’s “alternative allocation under section 367(d).” A similarly perfunctory assessment appears tucked away in the Tax Court’s 2017 opinion in Eaton, which rejects substantially the same alternative argument for the same reasons, often using almost exactly the
In this article ABNB More people are booking longer-term rental stays because of flexible working arrangements as a result of the pandemic, says Airbnb CEO Brian Chesky. “The pandemic has untethered millions of people from the need to be in office five days a week,” Chesky told CNBC’s “Squawk Box Asia” on Wednesday. “As people
In this article CSCO Cisco CEO Chuck Robbins Pradeep Gaur | Mint | Getty Images Cisco shares rose as much as 5% in extended trading on Wednesday after the enterprise software and hardware maker disclosed fiscal second-quarter earnings that surpassed analysts’ expectations. Here’s how the company did: Earnings: 84 cents per share, adjusted, vs. 81
A public screen displays the Shenzhen Stock Exchange and the Hang Seng Index figures in Shanghai, China, on Monday, Feb. 7, 2022. Qilai Shen | Bloomberg | Getty Images BEIJING — International investors are putting more money into Chinese stocks, even as local investors have remained cautious on the mainland markets. Mainland Chinese stock funds
It’s been two months since families with eligible children stopped getting advance child tax credit payments in December. Many of those families are already struggling again to make ends meet. Nearly 60% of parents surveyed by ParentsTogether Action, an advocacy group, said that since the checks stopped, they haven’t been able to afford enough food.
Martis Camp is a more than 2,100-acre gated community amid forests, meadows and streams set between Truckee, California, and the northern shores of Lake Tahoe. An prime example of the types of estates and cabins available in the development is this custom-built dovetail log home. Dovetail refers to the fitted corner notches used to secure
VALERIE MACON | AFP | Getty Images When Charlene Latsha calls the Social Security Administration, she’s placed on hold for so long that she hangs up. Latsha, 70, of Pottstown, Pennsylvania, has been trying to reach the government agency about her husband’s application for retirement benefits. Though he has been disabled and unable to work
In a statement issued late yesterday the IRS indicated that it heard the tax industry’s concerns about new reporting requirements for pass-through entity (PTE) returns and would be issuing further guidance soon. That guidance came early today in the form of a new FAQ. The FAQ (Question 13) discusses the January 18, 2022 update to
In this article LOCO CMG Avocados are seen in a grocery market in New York, United States on February 14, 2022. Tayfun Coskun | Anadolu Agency | Getty Images Avocados will likely be in short supply and more expensive in the coming weeks if the U.S. suspension of Mexican avocado imports persists. On Saturday, the