Scott Olson | Getty Images You may face long odds of hitting the Mega Millions jackpot — now worth $1.35 billion — but the taxman is always guaranteed a slice when there’s a winner. The jackpot jumped again after no ticket matched all six numbers drawn Tuesday night to land the grand prize. If won
Month: January 2023
Job hopping is widely considered the best way to improve your career prospects and pay. Sometimes, noncompete clauses stand in the way. These contracts are meant to protect the investments companies have put into their businesses and employees. It’s estimated that more than 30 million workers — or roughly 18% of the U.S. workforce — are required
Key takeaways Wells Fargo, the country’s third largest mortgage lender, is stepping back from the mortgage market. While not exiting it entirely, they’ll be focusing on only providing mortgages to their existing customers, and those in minority communities. It’s a major shake up which will see Wells Fargo take the lead from competitors like Bank
Robert Goulder and professors Allison Christians and Tarcísio Diniz Magalhães discuss the importance of the OECD’s pillar 2 UTPR (undertaxed profits rule) and its place in international tax law. This transcript has been edited for length and clarity. Robert Goulder: Hello, I’m Bob Goulder, contributing editor with Tax Notes. Welcome to the latest edition of
Hidden Hills lives up to its name. “Hidden” because it’s one of Southern California’s most exclusive enclaves that few — except horse lovers and A-list celebrities — have ever heard of. “Hills” because of the natural contours of the Santa Monica Mountains that surround the remote gated community. The town has become especially appealing for
Shannon Stapleton | Reuters Hundreds of U.S. flights were delayed Wednesday morning after the Federal Aviation Administration suffered an outage of the system that sends messages to pilots. The FAA ordered airlines to pause domestic departures until 9 a.m. ET “to allow the agency to validate the integrity of flight and safety information.” The agency
Wells Fargo is stepping back from the multitrillion-dollar market for U.S. mortgages amid regulatory pressure and the impact of higher interest rates. Instead of its previous goal of reaching as many Americans as possible, the company will now focus on home loans for existing bank and wealth management customers and borrowers in minority communities, CNBC
Stefani Reynolds | Afp | Getty Images The U.S. Department of Education proposed regulations Tuesday that would reduce the monthly bills for certain federal student loan borrowers. Under the proposal, the administration of President Joe Biden would overhaul one of the existing income-driven repayment plans, known as Revised Pay As You Earn or REPAYE, which
Key takeaways Tech is the big loser of recessions, while essential goods usually weather the storm. A few industries tend to buck the trend of dipping in recessions to provide consistent dividends. Some stocks have fared well in the last year and could be players to watch, but there’s never any guarantee that any will
With Kevin McCarthy (R-CA) becoming Speaker of the House by giving more power to hard-core conservatives, we face a looming crisis when the federal debt ceiling has to be raised later this year. Is there an alternative to a bitter fight and a possible failed vote that could cause a U.S. default? Can the Treasury
Not very long ago, homeowners’ concerns for the environment frequently took a back seat to the higher price tag for environmentally friendly products. Whether because of changing cost incentives, the increased buying power of eco-conscious Millennial and Generation Z homeowners, a growing awareness that what’s good for the planet is also good for its people,
Chair of the Board of Governors of the Federal Reserve System Jerome H. Powell participates in a panel during a Central Bank Symposium at the Grand Hotel in Stockholm, Sweden, January 10, 2023. Claudio Bresciani | TT | via Reuters Federal Reserve Chairman Jerome Powell on Tuesday said the central bank will not get involved
Morgan Stanley’s Mike Wilson is telling investors to brace for a winter downdraft. He warns S&P 500 is vulnerable to a 23% drop — bringing it to 3,000. related investing news The S&P 500 will gain almost nothing in the next decade, Stifel predicts Carmen Reinicke 12 hours ago Investors may be surprised how low
South Korea on Tuesday hit back at claims that its Covid rules for Chinese travelers are “discriminatory,” saying more than half of its imported cases are coming from China. In a response to CNBC, Seung-ho Choi, a deputy director at the Korea Disease Control and Prevention Agency said that up to 80% of “imported confirmed
Ascent/ Pks Media Inc. | Photodisc | Getty Images Current Social Security beneficiaries are poised to receive an 8.7% boost to their benefits for 2023 starting this month, thanks to the highest cost-of-living adjustment in 40 years. If you’re at or near Social Security’s retirement benefit eligibility age of 62, you may wonder if you
Key Takeaways AI is here to stay, and it’s likely to mean there are going to be some changes to the world of work. Some jobs will change, and others will be lost altogether. However, as the AI industry explodes, there are a number of roles that will go from the fringes to widely popular,
Tax Analysts Chief Content Officer Jeremy Scott reviews the 2022 developments in U.S. tax legislation and speculates about what may lie ahead. This transcript has been edited for length and clarity. David D. Stewart: Welcome to the podcast. I’m David Stewart, editor in chief of Tax Notes Today International. This week: 2022 wrap-up. We’re continuing
Villa Serenity, a magnificent mansion perched on a steep hillside on Mykonos, the Greek Island known for its gorgeous beaches and vibrant and chic nightlife, combines five-star hotel luxury amenities with the best qualities of a sprawling family vacation compound. The Villa, completed in 2022 is the property of Nicolas Treppides, a Cypriot entrepreneur who
Amazon ‘s (AMZN) soon-to-be widely available Buy with Prime service, which allows Prime members to use their Amazon accounts to shop with other online merchants, could be a profitable revenue channel for the e-commerce giant. However, the Club holding’s stock is still expensive, a high multiple compared to the broader stock market. Amazon on Tuesday
In this article BBBY Follow your favorite stocksCREATE FREE ACCOUNT A man is seen at a Bed Bath & Beyond store in New York, on Jan. 5, 2023. Ziyu Julian Zhu | Xinhua News Agency | Getty Images Bed Bath & Beyond on Tuesday posted wider quarterly losses than expected as its chief executive acknowledged
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