In this article GM Line workers work on the chassis of full-size General Motors pickup trucks at the Flint Assembly plant on June 12, 2019 in Flint, Michigan. JEFF KOWALSKY / AFP / Getty Images General Motors is cutting overtime production this weekend at two U.S. assembly plants that produce its highly profitable full-size pickups
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A man wears Levis Strauss & Co. clothing during the company’s initial public offering (IPO) at the New York Stock Exchange (NYSE) in New York, U.S., on Thursday, March 21, 2019. Jeenah Moon | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Levi Strauss – Shares of the retailer jumped
A pedestrian wearing a protective mask walks past the Macy’s Inc. flagship store in the Herald Square area of New York, U.S., on Tuesday, Nov. 17, 2020. Victor J. Blue | Bloomberg | Getty Images On any given day, the line outside the Gucci boutique at the Mall at Short Hills in N.J. winds around
Blackstone‘s Byron Wien on CNBC on Friday projected that Wall Street will get hit by another correction before the bull run resumes and stocks end the year higher than current levels. Inflation will shoot up faster than most forecasts, which will drive the Federal Reserve to tighten monetary policy and likely lead to a market
Alex Wong | Getty Images News | Getty Images President Joe Biden asked Congress for a $400 annual increase in maximum Pell grants for college students as part of a budget proposal issued Friday. The president also called to broaden eligibility to undocumented immigrants known as Dreamers. Pell grants are available to undergraduate students who
By Chris Farrell, Next Avenue You’ve probably been hearing about how the Biden administration wants to raise the 21% corporate tax rate and the 37% top income tax rate and 20% capital gains rate for the wealthiest Americans. But changes in the estate tax rules, under consideration by the president and Congress, haven’t received as much
Small business closures across the U.S. and the world are creeping back toward their pandemic peaks, according to a report from Facebook and the Small Business Roundtable. “It continues to be a very painful time for small businesses,” John Stanford, co-executive director of the Small Business Roundtable, told CNBC’s “Worldwide Exchange” on Thursday. The report,
In late March, thirteen states filed a lawsuit to fight what they claim is “a complete take-over of state finances” by the federal government, “one of the most egregious power grabs by the federal government in the history of the United States.” They want to use federal Covid-19 relief money to cut state taxes, which would continue
Just before a power lunch at Sant Ambroeus in Palm Beach, real estate billionaire Jeff Greene picks up the phone to discuss the past year’s “huge migration” to Southern Florida. “People have realized that they can get a much higher quality life and still make the same amount of income,” he says. “I’ll see more
One in five Americans are fully vaccinated, according to the latest data published on the Centers for Disease Control and Prevention’s website Thursday afternoon. A third of the population has received at least one dose of a Covid-19 vaccine. The U.S. is currently administering a seven-day average of 3 million vaccine doses per day, as
The “Fearless Girl” sculpture is seen outside the New York Stock Exchange (NYSE) during a snow storm in New York, February 1, 2021. Brendan McDermid | Reuters BEIJING — As U.S.-China tensions continue to simmer under a new administration, risks for American investors with exposure to China are only going to rise, according to a
Prince Philip, Duke of Edinburgh, in 2015. Matt Dunham | WPA Pool | Getty Images LONDON — Prince Philip, the Greece-born royal who as the husband of Queen Elizabeth II was the longest-serving consort to a British sovereign, died Friday. He was 99. “His Royal Highness passed away peacefully this morning at Windsor Castle,” the
New York Governor Andrew Cuomo speaks at Rochdale Village Community Center in Queens, New York, on April 5, 2021. Brendan McDermid | AFP | Getty Images The highest-earning New Yorkers are about to be hit with a tax hike. The New York state Senate and Assembly late Wednesday passed a $212 billion budget proposal after
For decades, the conservative story of trickle-down economics—including, particularly tax cuts for the wealthy and corporations, cutting funding for the common good, and deregulation to promote corporate profits at the expense of workers—, was all the rage. Supposedly, it would create much faster growth. Yet massive inequality amid sluggish growth has proven this argument wrong.
Non-employee platform-based work seems like a sufficiently distinct phenomenon to require changes to either tax forms or the tax code to accommodate the new work arrangements that have arisen over the past decade or so, but the only truly novel element in platform work might be the online platform. The IRS maintains that platform work
Mortgage rates finally stopped their upward climb — at least temporarily. According to the latest data from Freddie Mac, mortgage rates dropped over the last week, falling from 3.18% to 3.13% on 30-year, fixed-rate loans. It’s the first time in two months that rates have dropped. “After moving up for seven consecutive weeks, mortgage rates
A health worker prepares to do tests for Covid-19 coronavirus outside a makeshift clinic in a sports stadium in Port Moresby on April 1, 2021. Gorethy Kenneth | AFP | Getty Images Misinformation on social media is hindering Papua New Guinea’s vaccination efforts. Many people are hesitant about inoculation due to false information being spread
The Sueiros had it all — great careers, a community of friends and kids enrolled in a top-notch international school in Boston. Will was a corporate accountant, and Jessica ran a graphic design business from home. Life was “comfortable, uneventful and routine,” said Jessica Sueiro. “Life was good” for the Sueiro family before they began
U.S. stock futures moved higher in overnight trading on Thursday after the S&P 500 notched a fresh record in the regular session. Dow futures rose about 50 points. S&P 500 futures gained 0.2% and Nasdaq 100 futures rose 0.17%. The major averages rose on Thursday, bolstered by gains in technology stocks. The Dow Jones Industrial
Wharton School finance professor Jeremy Siegel said Thursday he expects the stock market’s rally will persist at least throughout this year. However, he told CNBC that investors will have to be cautious once the Federal Reserve adjusts its highly accommodative monetary policies. “It isn’t until the Fed leans really hard then you have to worry. I mean,