getty The Main Street New Loan Facility Program was established as a part of the CARES Act earlier this year to provide banks with a 95% guaranteed re-payment when they extend credit under this program to a business borrower. In an apparent reaction to the delay in extending new PPP loans the SBA announced on
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RyanJLane | E+ | Getty Images Small businesses that took a forgivable loan this year — as well as their banks — can’t wait to have the balance wiped out, but tax professionals are telling them to slow down. The CARES Act, which went into effect this spring, established the Paycheck Protection Program, an emergency
Much of the commentary on the VAT and Customs Duty implications of Brexit relates to the movement of goods between the UK and European Union (EU) and vice versa. It is worth noting that there are also potential VAT changes to consider for businesses that provide services rather than goods. Brexit concept Getty Images/iStockphoto Where
Several things are now pretty clear. First, the recession will last well into 2021. Even though retail spending has bounced back from a 20 percent drop, jobs haven’t. More government spending will help the 10 million people who have not regained their job, but it can’t give them a new one. As long as COVID
Johnny Depp Mike Marsland | WireImage | Getty Images LONDON — Hollywood actor Johnny Depp lost a libel case on Monday against British tabloid newspaper The Sun which published an article that called him a “wife beater.” Depp had sued the paper over the story in 2018, in which it was claimed that he had
SHANGHAI — Chinese fintech giant Lufax is laying the groundwork for international expansion over the next five years, following a cash injection from its U.S. IPO, the company’s chief executive told CNBC. Lufax started trading on the New York Stock Exchange on Friday raising around $2.36 billion. The stock fell as much as 14.3% on
How is Wall Street positioned for the election? Even Wall Street isn’t sure. For most of October, “buy the stimulus trade” was the main idea on Wall Street. After all, polls showed odds were good for a Biden victory that would likely entail some kind of large-scale stimulus. Investors were buying small-cap stocks, infrastructure plays, and
Anchiy | E+ | Getty Images If you’re signing up for next year’s workplace benefits, now is the best time to develop a strategy for increasing your savings. Benefits season also happens to coincide with the annual IRS release of the 2021 maximum contribution limits for certain tax-advantaged accounts, including your 401(k) plan, individual retirement
By John Endris, Next Avenue getty (Transitioning from someone who creates art to someone who sells his or her art for profit can be difficult. As David Deeds, Schulze Professor of Entrepreneurship at University of St. Thomas, wrote in “To Turn Your Art Into a Business, Learn to Manage Your Time,” you may want to
I spend a lot of time telling people to save for college, and to save as soon as possible. But there are situations where saving for college doesn’t make sense. Recently I received a call from a parent whose son was entering college. They were frantic, “When should I take money out of my 529
Chris is Founder and Chief Executive at Radius Realty, a top 10 real estate company with a technology-first approach. getty As of 2018, 52 million people in the United States were aged 65 and older. By 2034, this population is expected to, for the first time in American history, outnumber the 18-and-under population. The rising number
SINGAPORE — Fast and accurate coronavirus tests have become a reality, according to genetic testing firm Prenetics. The Hong Kong-based company last week told CNBC that the accuracy of its rapid coronavirus tests is comparable to the “gold standard” of PCR testing. Polymerase chain reaction (PCR) tests have been widely used to detect coronavirus infections
A man walks near the New York Stock Exchange (NYSE) on August 31, 2020 at Wall Street in New York City. Angela Weiss | AFP | Getty Images Stock futures were flat in overnight trading on Sunday as the market tried to rebound from its worst week since March. The move came as England adopted
Apple reported fourth-quarter earnings on Thursday that slightly exceeded Wall Street expectations, but the company did not offer investors any guidance for the quarter ending in December. iPhone sales were down more than 20% year-over-year. Here’s how Apple did versus analyst expectations via Refinitiv estimates: EPS: 73 cents vs 70 cents estimated Revenue: $64.7 billion
Princeton University’s campus was largely deserted as of March 18, 2020 as a growing number of colleges require students to leave for the remainder of the spring semester. Jessica Dickler | CNBC “This reduction recognizes the fact that the pandemic and associated challenges are requiring us to cancel winter study as well as fall athletics
If you’re 55 or over, your retirement may be more uncertain than ever before. Despite that more people than ever are retiring early in the face of an ongoing pandemic, uncertain economy and record low interest rates. 2020 has brought unprecedented change getty A recent report released by the Retirement Equity Lab at The New
California’s 13.3% tax rate is enough to make almost anyone sick, including rock stars. Kiss rocker Gene Simmons announced he wanted to leave California for tax-free Washington state, putting his $22 million Beverly Hills California estate on the market. The listing of his palatial one-of-a-kind 16,000 square-foot mansion says it has a 40-foot foyer, parking for
Rectory Farm House in Oxfordshire, on sale for $ 9 million, lies in 8 acres of land beside the River … [+] Thames Knight Frank If you’re in the market for a riverside country house, with several acres of land and gardens, then Rectory Farm House in Oxfordshire could be for you. The period property,
There’s a second pandemic sweeping our country: unemployment. The number of unemployed in the U.S. as a result of this crisis reached its highest level since the Great Depression. Nearly 3 in 4 (72%) of those currently unemployed have friends or family members who also lost their jobs due to Covid-19, according to new research
People wear protective face masks outside Starbucks in Union Square as the city continues Phase 4 of re-opening following restrictions imposed to slow the spread of coronavirus on September 29, 2020 in New York City. Noam Galai | Getty Images Starbucks is expected to report its fiscal fourth-quarter earnings after the bell Thursday. Here’s what