Getty Images Some Americans who qualified for stimulus checks received an unwelcome surprise when the $500 payments for their children under 17 were not included. Starting today, the U.S. government plans to send out the missing cash. That applies to those individuals and couples who are not required to file a tax return and used
Month: August 2020
Providing a guaranteed lifetime withdrawal benefit is a risky endeavor for the insurance company. The insurance company must manage both longevity and market risk, as they are obligated to provide lifetime income payments at the guaranteed level if the underlying assets held within the annuity have been depleted. The greater the investment volatility and the
The United States Capitol Building, Washington DC. You can see the capital dome. Building reflecting … [+] on the water fountain in front of the capital. getty n 1969 a 38-year-old lawyer in the Treasury Office of Tax Legislative Counsel contemplated the social ferment gripping the United States. Surging opposition to the war in Vietnam, combined with
Canopy by Hilton Jersey City Arts District is now accepting reservations Aerial panorama of Jersey City skyline at sunset. Getty It’s not exactly an ideal time to open a new hotel, however Canopy by Hilton has doubled down this month with the opening of not one but two new hotels, including the Canopy by Hilton
The global death toll from the coronavirus pandemic has now surpassed 700,000, with the U.S., Brazil and Mexico leading the world in total deaths, according to data from Johns Hopkins University. On Wall Street, Moderna reported a fivefold increase in its second-quarter revenue related to its work on a potential coronavirus vaccine. The company said it has
Customers shop at the CVS Pharmacy, on Morrissey Boulevard, in Dorchester, on April 2, 2020. Some pharmacy workers worry about unsafe conditions at their stores. Pat Greenhouse | Boston Globe | Getty Images CVS Health on Wednesday reported that it beat expectations for earnings and revenue in the fiscal second quarter. Shares of the company were
Federal Reserve Vice Chairman Richard Clarida said Wednesday he expects the economy to continue to recover through the year and likely return to its pre-pandemic level by the end of the 2021. In an interview with Steve Liesman on CNBC’s “Squawk Box,” the central bank’s director of bank supervision said he hasn’t changed his forecast
US President Donald Trump boards Air Force One prior to departing from Joint Base Andrews in Maryland, July 31, 2020, as he travels to Tampa, Florida. Saul Loeb | AFP | Getty Images President Donald Trump is returning to one of the wealthiest regions of New York for a fundraising blitz as his opponent, presumptive
A sign is posted outside of the PayPal headquarters in San Jose, California. Justin Sullivan | Getty Images PayPal has hired Peggy Mangot, a former entrepreneur who led the development of a standalone mobile banking app at Wells Fargo, for its internal venture capital team, CNBC has learned. Mangot recently joined the online payments giant
When and if Congress agrees on an extension for federal unemployment benefits, the payments are likely to be retroactive to when the $600 lapsed in your state. hxyume | iStock | Getty Images It’s now been days, or more than a week, since unemployed Americans stopped receiving the $600 federal boost. Now, they await updates on
Better Economic Outcomes Do Not Follow From Riskier Public Health Approaches getty The responsibility for balancing public health and an economic recovery has fallen on state governments. Some states, such as Massachusetts, New York and Washington, chose to go slow with lengthy stay-at-home orders and a gradual reopening. Others, such as Florida, Georgia and Texas,
United States Flag Capitol State Building during Covid19 2020 novel coronavirus Pandemic, 3d virus … [+] medical model, Washington DC, USA getty Tax Notes reporter Alexis Gravely talks with Edward Karl, vice president of taxation at the American Institute of CPAs, about tax changes made and considered by Congress in the wake of the COVID-19 pandemic.
Financial services startup for mom-and-pop landlords, Zibo announced today the closure of a $10.5 … [+] seed funding round. Zibo Zibo, a banking and payment platform for independent landlords, announced today that it has raised $10.5 million in seed funding to help scale its one-stop-shop approach to financial management for residential rental properties. “It’s a
B&G Foods CEO Ken Romanzi told CNBC’s Jim Cramer Tuesday that he expects the company’s vast range of brands to retain a significant number of customers who were introduced to their food products during the pandemic. B&G, the holding company of Cream of Wheat, Ortega, Polaner, B&G Pickles, Green Giant and other brands, has been one of
A man exits the American International Building, world headquarters of American International Group (AIG). Chris Hondros | Getty Images Insurer American International Group on Monday posted a 56% fall in quarterly adjusted earnings, spurred partly by higher catastrophe losses and lower private-equity returns. Adjusted after-tax income attributable to AIG common shareholders fell to $571 million
Twitter CEO Jack Dorsey addresses students during a town hall at the Indian Institute of Technology (IIT) in New Delhi, India, November 12, 2018. Anushree Fadnavis | Reuters Shares of Square soared on Tuesday evening after posting better-than-expected quarterly results and strong growth in its consumer payments app. The San Francisco-based company reported $1.92 billion
As schools across the country wrestle with reopening plans, one New York City private school seems to have it all figured out. “The only school that I have seen really reaching out to educate parents about a safer option is Avenues,” said Emily Glickman, president of Abacus Guide Educational Consulting. Avenues: The World School has made
The Securities and Exchange Commission is investigating Eastman Kodak‘s disclosure about getting awarded a $765 million loan from the U.S. government to start producing drug ingredients, which sent the stock up on heavy volume ahead of the official announcement, the Wall Street Journal reported Tuesday. On July 27, a day before Kodak, as well as President Donald
The top source of financial stress is saving enough for a comfortable retirement, a worry that is trending upward as a result of the pandemic, according to a newly released nationwide survey by Charles Schwab of 1,000 currently employed 401(k) plan participants between the ages of 25 and 70. The survey, conducted between May 28 and
Howard Schultz, the former Starbucks CEO, on Tuesday urged Congress to provide additional financial support to small businesses, saying that the now-iconic coffee chain would have struggled to weather the economic impacts of the coronavirus pandemic in its early years. In 1987, Starbucks had just 11 stores and about 100 employees, Schultz said on CNBC’s “Squawk
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