The New York Stock Exchange (NYSE) stands in lower Manhattan on May 18, 2020 in New York City. Markets surged today as promising details of a potential COVID-19 vaccine were released and more European countries gradually re-opened after months of lockdown. Spencer Platt | Getty Images Stock futures were flat in overnight trading on Wednesday
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Klaus Vedfelt Digital banks like Chime and Square’s Cash App have added millions of users by offering streamlined, mobile-first accounts without the pesky fees associated with brick-and-mortar banks. To that list of disruptors, add the New York-based start-up Current. Current, founded in 2015 by former Wall Street trader Stuart Sopp, has offered fee-free mobile checking
“Opportunity zones,” a cornerstone of the White House plan to combat racial inequality, have mainly helped large real estate projects while many low-income communities have yet to benefit, according to a new study. The plan, which was part of the 2017 tax cuts and have attracted over $10 billion in investments, has taken center stage
10’000 Hours The IRS won’t let you write off those home-office expenses on your 2020 taxes, but your state just might. It’s been about three months since state governments put in place stay-at-home orders to mitigate the spread of coronavirus. Indeed, employees who have the option to work remotely are getting used to it. More
Yellow Dog Productions The U.S. economy is restarting and millions of unemployed Americans are returning to work. Yet that positive trajectory may not last. Many newly employed Americans could be furloughed or laid off again. Officials in areas like New York have discussed renewed lockdown measures as citizens flaunt social distancing rules. Houston may
By Michele Turk, Next Avenue Contributor Getty By the time my doctor told me via FaceTime that I tested positive for Covid-19, my symptoms were long gone. I was probably not contagious anymore, and I had temporary immunity to the virus. For weeks afterward, the same thought replayed in my mind: I survived the coronavirus. How
In the last week, the Small Business Administration has released a flurry of guidance — or what passes as guidance in this situation — governing forgiveness of Paycheck Protection Program loans, culminating this morning in the release of a new Form 3508 for borrowers to use in requesting said forgiveness. Piecemeal as the guidance has
New home construction may finally be seeing a turnaround. Getty New home construction had all but ground to a halt in recent months, as the coronavirus pandemic swept the nation, closing cities and businesses down with it. Fortunately, it appears those days are numbered. According to data released by the Census Bureau this morning, housing
New York Gov. Andrew Cuomo speaks during the daily media briefing at the Office of the Governor of the State of New York on June 12, 2020 in New York City. Jeenah Moon | Getty Images New York Gov. Andrew Cuomo said on Wednesday that New York City will be allowed to reopen some in-store
Oracle CEO Safra Catz delivers a keynote address during the 2019 Oracle OpenWorld on September 17, 2019 in San Francisco, California. Oracle CEO Safra Catz kicked off day two of the 2019 Oracle OpenWorld with a keynote address. The annual convention runs through September 19. Justin Sullivan | Getty Images Oracle shares fell as much
Jay Clayton, chairman of U.S. Securities and Exchange Commission Zach Gibson | Bloomberg | Getty Images The Securities and Exchange Commission told Hertz, which filed for bankruptcy during the pandemic, that the regulator has issues with the rental car company’s plan to sell stock. “In this particular situation we have let the company know that
A person on a scooter rides past a JPMorgan Chase & Co. bank branch in New York, U.S., on Thursday, June 11, 2020. Jeenah Moon | Bloomberg | Getty Images JPMorgan Chase will close its U.S. Chase retail branches early on Friday in observation of Juneteenth, according to an email to colleagues from CEO Jamie
Billionaire and legendary Silicon Valley investor Marc Andreessen has every second of his day and night scheduled, including free time and time to think — and the practice is critical to his success, he says. “The big thing is basically *everything* is on the calendar. Sleep is on the calendar, going to bed is in
Gillian Gullett thought she had it all figured out: Graduate from college, move to Seattle to live with her boyfriend, and find a job. After all, the economy was strong and unemployment was matching its lowest level in more than 50 years. Then, the coronavirus crisis hit and jobs dried up. “The pandemic hit around
Rob Frohwein, CEO of Kabbage Adam Jeffery | CNBC In late March, with the coronavirus pandemic forcing mom-and-pop shops across the country to shut down indefinitely, small business lender Kabbage furloughed a “significant number” of employees and paused its lending operation, anticipating the contraction in its customer base. But CEO Rob Frohwein, who co-founded the
Alexander E. Kearns. Kearns family With additional reporting by John Dobosz and Jeff Kauflin The note found on his computer by his parents on June 12th asked a simple question. “How was a 20 year old with no income able to get assigned almost a million dollars worth of leverage?” The tragic message was written
Watch Benjamin Willis and Joseph Thorndike, contributing editors for Tax Notes Federal, discuss the Whiskey Rebellion, the first time the federal government used military force to quell a domestic uprising. Here are a few highlights… On federal military force and tax Joseph J. Thorndike: The very first time that the federal government used military force to put
Single family house on pile of money. Concept of real estate. Getty In the wake of the pandemic, mortgage interest rates have plunged to near-record lows, which has lead to an unprecedented boom in the mortgage refinance industry. However, as more and more people rush to refinance, it’s important to remember that securing a good
People play chess at a park in Stockholm on May 29, 2020, amid the coronavirus Covid-19 pandemic. JONATHAN NACKSTRAND The decision to exclude Sweden from the lifting of travel restrictions between Nordic countries Finland, Denmark and Norway, following the coronavirus pandemic, “has created wounds that will take time to heal,” the country’s foreign minister told
The Norwegian Bliss cruise ship is seen docked on March 15, 2020 in New York City. Mayor Bill de Blasio said on Tuesday that any cruise ship passenger disembarking in New York City with a temperature over 100.4 will be given the choice of self-isolating at home or be taken to a hospital to protect