izusek | E+ | Getty Images The Social Security Administration announced this week that the cost-of-living adjustment for benefits in 2021 will be 1.3%. For the average retirement benefit, that amounts to just a $20 increase per month. Now, two Congressional Democrats — Reps. Peter DeFazio, D-Ore., and John Larson, D-Conn. — plan to propose
Month: October 2020
A worker loads customer orders into a waiting tractor-trailer inside the million-square foot Amazon distribution warehouse that opened last fall in Fall River, MA on Mar. 23, 2017. John Tlumacki | Boston Globe | Getty Images Amazon said third-party sellers on its marketplace earned more than $3.5 billion during this year’s Prime Day shopping event,
Consider all your sources of retirement income when making asset allocation decisions in retirement. getty In order to protect existing assets, retirees and their advisors are understandably concerned about avoiding financial losses due to stock market downturns. The primary concern is that if any losses occur, the retiree won’t have the ability or time to
getty Together with the United States District Court for the Northern District of California, the Internal Revenue Service (IRS) Criminal Investigations (CI) division announced what is being called the largest ever tax charge against an individual in the United States. Robert T. Brockman, a 79-year-old resident of Texas, and the chairman and CEO of The
5, IIchester Place, a 7-bedroom house in Kensington, west London, is on sale for $42 million via … [+] Knight Frank AlexWinship Photography Ltd London’s priciest homes are in demand and are selling for nearly their full price despite the pandemic. In London, a total of 56 deals for super-prime $12.9 million-plus properties took place
A nurse gets ready to enter a room to take care of a patient infected with Covid-19 at the intensive care unit of the Lariboisiere Hospital of the AP-HP (Assistance Publique – Hopitaux de Paris) in Paris, on October 14, 2020. LUCAS BARIOULET | AFP | Getty Images European leaders are scrambling to put a
A Johnson & Johnson building is shown in Irvine, California. Mike Blake | Reuters Johnson & Johnson on Tuesday reported third-quarter earnings and revenue that beat Wall Street’s expectations, led by higher sales in its medical-device unit and higher demand for some of its drugs. J&J reported an adjusted earnings of $2.20 per share, higher
A trader walks by the New York Stock Exchange (NYSE) on the first day that traders are allowed back onto the historic floor of the exchange on May 26, 2020 in New York City. Spencer Platt | Getty Images U.S. stock futures were lower on Wednesday night as traders continued to weigh the prospects for
Wealthy families are racing to change their estate plans and pass hundreds of billions of dollars to their kids in the event of a Biden victory in November, according to attorneys and tax advisors to the wealthy. With the odds growing of a Biden win and possible blue wave, millionaire and billionaire families are speeding
Billionaire investor Ron Baron, who says his stake in Tesla has made his firm 10 times its original investment, told CNBC on Wednesday that he expects similar growth from Elon Musk’s space company. “SpaceX I think has a chance to be just as large as Tesla,” Baron said on CNBC’s “Squawk Box.” Baron’s investment firm holds
Prisoners are getting a second chance at receiving the $1,200 stimulus checks the government sent this spring. Judge Phyllis J. Hamilton of the U.S. District Court for the Northern District of California recently ruled that the government should not withhold those checks from people solely because they are incarcerated. There are roughly 1.5 million incarcerated
PEMBROKE PINES, FLORIDA – OCTOBER 13: Wearing a face mask to reduce the risk posed by the … [+] coronavirus, Democratic presidential nominee Joe Biden delivers remarks about his ‘vision for older Americans’ at Southwest Focal Point Community Center October 13, 2020 in Pembroke Pines, Florida. With three weeks until Election Day, Biden is campaigning
On the latest episode of Willis Weighs In, Benjamin Willis, contributing editor for Tax Notes Federal, and Victor Fleischer, professor at University of California, Irvine School of Law and former Senate Finance Committee Democratic chief tax counsel, discuss possible post-election tax reform. Here are a few highlights . . . On changing the corporate tax rate Victor
The majority of people who think their home is haunted live in the West. getty If you find yourself living in a house with a spooky vibe, it could be that the home is haunted. For some people, that’s reason enough to put up a for-sale sign and take the money and run. However, a
FDA Senior Advisor Dr. Janet Woodcock joins Meg Tirrell to talk monoclonal antibody treatments, Operation Warp Speed, and how to run better clinical trials. For more exclusive insights from our reporters and speakers, sign up for our Healthy Returns newsletter to get the latest delivered straight to your inbox weekly. And for a front row seat at CNBC Events,
A United Airlines airplane takes off at San Francisco International Airport. Gary Hershorn | Corbis News | Getty Images United Airlines on Wednesday posted a wider-than-expected third quarter loss as the coronavirus pandemic continued to hammer air travel demand, but the carrier trimmed its cash burn. Here’s how United performed compared with what Wall Street
A pedestrian wearing a protective mask walks past a Wells Fargo & Co. bank branch in New York, U.S., on Thursday, July 9, 2020. Peter Foley | Bloomberg | Getty Images Check out the companies making headlines midday on Wednesday: Wells Fargo — Wells Fargo shares dropped 5% after the banking giant reported a weaker-than-expected
Bill Gates is a billionaire and a tech icon, so it’s unlikely that the world’s second-wealthiest person will need to interview for a new job anytime soon. However, thanks to two-time NBA MVP Stephen Curry, we now know how Gates would answer a few basic job interview questions, including asking Gates to describe his strengths
Virgin Galactic’s First Spaceflight on Dec. 13, 2018 Source: Virgin Galactic Space tourism venture Virgin Galactic on Wednesday said it remains on track to conduct its next test spaceflight in the coming weeks. “We expect our first spaceflight from Spaceport America to occur later this fall and we are pleased to confirm that we are
kate_sept2004 | E+ | Getty Images Young investors are more likely than older generations to seek out financial help from a computer than a human. In addition, the Covid-19 recession has led to more interest among younger people in getting financial advice. Financial advisors should take note. Millennials, a group spanning their mid-20s to late
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