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The Federal Reserve on Wednesday raised its benchmark interest rate by half a percentage point as the most aggressive step yet in its battle against generational highs in inflation. Along with the move higher in rates, the central bank indicated it will begin reducing asset holdings on its $9 trillion balance sheet. The Fed had…
When Elon Musk has a new start-up idea, he typically skips a crucial stage of getting the business off the ground: He doesn’t create a business plan. Over the last two decades, Musk has helped build a slew of successful companies, from PayPal to Tesla and SpaceX — making him the world’s richest person, with…
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, April 6, 2022. Brendan McDermid | Reuters How do you spell “capitulation?” F-E-A-R. That’s what this market breeds, and there has been no escape from that wild bear out for your lunch. Putting it in the starkest black and white,…
Luminola | E+ | Getty Images Amid high inflation and rising interest rates, there are fears of a prolonged stock market downturn, and some retirees may be vulnerable without a cushion of cash, financial experts say. However, there’s also the risk of crumbling purchasing power, with annual inflation growing by 8.5% in March, the U.S….
Guido Mieth | DigitalVision | Getty Images Catch-up contributions for retirement savers could get more generous for certain savers, if legislation proposed in Congress becomes law. But the benefits of the increased limits will likely be concentrated among higher-income plan participants. Today, preretirees ages 50 and up can put away an extra $6,500 toward retirement…
Key Findings Sales taxes account for 29.52 percent of state tax revenue, but most sales taxes are imposed on narrow—and still-narrowing—bases, with average sales tax breadth of only 29.71 percent and a median of 35.72 percent. Sales tax bases range from 19.32 percent of personal income in Massachusetts to 93.89 percent in Hawaii; the Massachusetts…
In this article YUM Vehicles wait in line at the drive through lane of a Yum! Brands Inc. Kentucky Fried Chicken (KFC) and Taco Bell restaurant in Lockport, Illinois, U.S. Daniel Acker | Bloomberg | Getty Images Yum Brands on Wednesday reported quarterly earnings and revenue that missed analysts’ expectations as lockdowns in China weighed on sales….
In this article MRNA The Moderna Covid-19 vaccine awaits administration at a vaccination clinic in Los Angeles, California on December 15, 2021. Frederic J. Brown | AFP | Getty Images Moderna sold $5.9 billion of its Covid vaccine in the first quarter, blowing out revenue and profit expectations. The biotech company’s shares soared by more…
In this article MRNA UBER EAT GNRC TUP LYFT Check out the companies making headlines before the bell: Uber (UBER) – Uber fell 1% in premarket trading after it reported a quarterly loss and revenue that beat estimates. Uber saw ride volumes increase during the quarter while food deliveries also continued to grow. Brinker International…
Everyone told me not to travel solo during a pandemic. Especially not to learn snowboarding, a sport that not all travel insurance policies cover. It didn’t help that I wanted to visit a country where I don’t speak the language. Administrative matters — such as Covid tests, vaccination certificates and health declarations — would be…
JohnnyGreig | E+ | Getty Images When stocks gyrate, stock investors invariably hear this advice: “Stay the course.” In other words, don’t sell in a gut reaction; stick to your financial plan. This counsel generally makes sense for long-term investors. Stocks are likely to recoup losses by the time owners need the money many years…
Reading the fine print or understanding available offers means you could be saving money or taking advantage of refunds or freebies that you might not have otherwise known about, like a brand-new pair of Nike sneakers. That’s the kind of attention to detail that can lead to some surprising upsides, according to Erika Kullberg, lawyer…