Getty The risk of inflation seems to be of little concern to investors in recent years. Most likely, that is due to the recency bias investors tend to exhibit. The fact that inflation has been tame for the last 30 years, leads many to think that this will continue indefinitely. While inflation was averaging over 10% in
Month: June 2020
In March 2020, The Australian Taxation Office (ATO), the entity responsible for tax administration in Australia similar to the IRS in the US, was in the process of initiating the largest crypto tax crackdown. As news.com.au reported, the ATO was planning to send out crypto tax warning letters to 350,000 Australians. We are now seeing
TOPLINE The stock market finished higher on Tuesday, closing out its best quarter since 1998 despite a rising number of coronavirus cases across the country—as many states pause or walk back reopening plans altogether. The market had its best second quarter in decades. Spencer Platt/Getty Images KEY FACTS The Dow Jones Industrial Average was up
Walgreen Stores in Lexington Park, MD. Source: Walgreens Walgreens has rolled out a new kind of store that shrinks down its square footage and focuses on the pharmacy. Expect to see fewer front-of-store items, a slimmed down selection of over-the-counter medications and an emphasis on relationships between pharmacists and customers. It has opened more than
Bloom Productions Financial advisors are largely an optimistic bunch when it comes to growing their practices, new research shows. Yet they know they have some work to do to make that happen. While most advisors expect growth in their assets under management to come primarily from new and existing clients rather than market returns, they
The President’s disaster declaration opens a window to unusual tax claims Eyeing losses Getty Are you reporting net capital gains on the 2019 tax return you’re about to file? Have you already taken, or could you take, losses this year on bad stocks? Then you should visit your accountant for another look at Section 165(i)
From January through May, 10.9% of the global population of 2,825 billionaires made confirmed monetary donations to Covid-19 pandemic-related causes, according to a report published Tuesday by Wealth-X, a market research firm covering the world’s wealthiest people. Other billionaires could have given money through a third party or anonymously, a Wealth-X spokesperson tells CNBC Make It,
Hundreds of unemployed Kentucky residents wait in long lines outside the Kentucky Career Center for help with their unemployment claims on June 19, 2020 in Frankfort, Kentucky. John Sommers II/Getty Images The financial aid that jobless workers have been receiving to shore up household income during the coronavirus pandemic is poised for a dramatic reduction
Forbes announced its first Impact 50 List in late 2019. What a difference six months makes. Impact investors are not just our canaries in a coal mine – they can shine a path forward that aligns our economic engines with our humanity. And there’s room for more investors and leaders on this road. I’m sitting
Maskot/Getty Images Uncle Sam has heard your requests for more time to file your taxes – and they have been denied. The Treasury Department and the IRS will stick with the July 15 deadline for 2019 income tax returns and taxes owed for that year, the agencies said. The announcement came less than a week
The wealthy are preparing for tax increases, working with their accountants to give away money or shift their income to avoid some of the impact of higher rates. With rising deficits at both the state and federal level, as government spending soars and revenue drops from the Covid-19 crisis, taxes are likely to go up
ROBERTO SCHMIDT It’s impossible to think about racial injustice in the U.S. without looking at the distribution of dollars. In many ways that Americans work to establish themselves financially — through the stock market, net worth and homeownership — Black families trail White families. “To put it simply, we don’t have a level playing field,” said Evelyn Brodkin, an
Economic Security Planning, Inc. Today’s column addresses questions about the ability to receive auxiliary benefits after suspending a retirement benefit, filing for early retirement benefits or disability, when spousal benefits can be available and drawing more than one benefit at a time. Larry Kotlikoff is a Professor of Economics at Boston University and the founder
Gary Vaynerchuk wishes young people would stop aspiring to make millions of dollars. The 44-year-old self-made multimillionaire entrepreneur and CEO of VaynerMedia says he’s seen that chasing millions makes people unhappy in life. “If you’re under 25, you think you have to make a million dollars a year to even be in the game,” Vaynerchuk tells
The logo of Amazon Web Services (AWS) is seen during the 4th annual America Digital Latin American Congress of Business and Technology in Santiago, Chile, September 5, 2018. Ivan Alvarado | Reuters Amazon Web Services, the cloud-computing branch of the e-commerce giant, is further expanding its services in the growing space industry. The company announced
The IRS provides answers to some key questions about coronavirus- related distributions from IRAs, 401(k)s and other eligible retirement plans; and expands qualification, for it, by association. Raining money Getty On March 27, 2020 the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law, in response to the coronavirus disease 2019 (COVID-19)
Happy couple with keys of new apartment Getty In the Coronavirus era, much has changed in the real estate market. For one thing, home buyers seem much more willing to invest in a home that will simultaneously be their living space, their work space, and their relaxation space for the foreseeable future. In fact, a
Adam Jeffery | CNBC Investors should stay bearish on U.S. stocks until the full extent of the economic damage caused by the coronavirus pandemic is known, according to TS Lombard, which warned that investors were over-estimating a quick recovery in U.S. corporate earnings. Charles Dumas, chief economist at the economic research firm, told CNBC Tuesday that ”the
When it comes to interviewing for a job, it’s a whole new world these days. In-person meetings are gone, replaced by virtual ones. “Due to the [coronavirus] pandemic, when things shifted overnight a few months ago, everyone shifted to Zoom or video chats or online interviews,” said Vicki Salemi, a career expert with jobs site
New York Stock Exchange (NYSE) building is seen with the Fearless Girl Statue during Covid-19 pandemic in Lower Manhattan, New York City, United States on May 26, 2020. Tayfun Coskun | Anadolu Agency | Getty Images This is a live blog. Please check back for updates. 7:49 am: Powell and Mnuchin to testify before the
Tesla just hit a major milestone. The electric vehicle maker turned 10 years old as a publicly traded company on Monday, a stretch in which it rallied from its IPO price of $17 a share to over $1,000. Just this year, shares have risen more than 130%. The stock is on track for its
Micron Technology’s hard drive for data center customers is presented at a product launch event in San Francisco, October 24, 2019. Stephen Nellis | Reuters Micron Technology on Monday forecast current-quarter revenue above Wall Street estimates as home-bound employees and students spur demand for its chips that power notebooks and data centers, sending its shares
Getty Winston Churchill once said in a speech, “Now this is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning.” While Churchill was referring the Allied defeat of Rommel in November of 1942, he could just as easily have been talking about the Covid-19 crisis. While lockdown restrictions have been
A worker welding truck parts at a factory in Weihai, China, October 18, 2018. STR | AFP | Getty Images China on Tuesday said manufacturing activity expanded in June with the official Purchasing Manager’s Index coming in at 50.9. Economists polled by Reuters had expected the official manufacturing PMI number to come in at 50.4. PMI readings
U.S. stock futures were flat in overnight trading ahead of the last trading day of a volatile month for stocks on Tuesday. Dow futures fell 16 points. The S&P 500 and Nasdaq-100 were set to open higher, with gains of 0.14% and 0.34%, respectively. Shares of Wells Fargo ticked nearly 2% lower in after hours
Mezzanine loans are often the riskiest piece of the real estate capital stack. These lenders will suffer the first loss if the value of the collateral goes down. If the loan defaults, they also have the fastest enforcement tool in the foreclosure tool shed: the ability to hold a Uniform Commercial Code foreclosure sale, a
(L-R) Michael Corbat, chief executive officer of Citigroup Inc., Jamie Dimon, chief executive officer of JPMorgan Chase & Co., James Gorman, chief executive officer of Morgan Stanley, Brian Moynihan, chief executive officer of Bank of America Corp., Ron O’Hanley, president and chief executive officer of State Street Corp., Charles Scharf, chief executive officer of Bank
People walk by a Wells Fargo bank branch on October 13, 2017 in New York City. Spencer Platt | Getty Images Wells Fargo warned on Monday that it will likely cut its dividend after the Federal Reserve announced it would cap dividends for banks based on earnings. Wall Street analysts pointed to Wells Fargo as
Rep. Bobby Rush, D-Ill. Ralf-Finn Hestoft | Corbis | Getty Image The bill, called the Student Recovery Eligibility for Low-Income Individuals to Exact Funds (RELIEF) Act of 2020, would make students receiving Pell Grants eligible to receive $1,200 stimulus checks. Federal Pell Grants are need-based funds given to low-income students to help them complete their
By Bob Blancato, Next Avenue Contributor and Elder Advocate Getty As the national coordinator of the national and grassroots advocacy group, the Elder Justice Coalition, I believe the need to address elder justice has become even more urgent recently. Congress appears to think so, too. Elder justice is the holistic approach of preventing and handling
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