getty The headline: “State district judge rules part of Houston’s pension reform is unconstitutional.” And the report is a bit of a head-scratcher at first: the firefighters’ pension fund complains that the city is using a lower valuation discount rate than they themselves would have used, which has the effect of increasing the city’s required
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Democratic presidential candidate Joe Biden speaks during a campaign event in Fort Lauderdale, … [+] Florida on October 13, 2020. (Photo by JIM WATSON / AFP) (Photo by JIM WATSON/AFP via Getty Images) AFP via Getty Images Democratic presidential candidate Joe Biden’s current campaign plan would raise taxes by $2.4 trillion over the next decade,
Mortgage interest rates have decreased to 2.81% getty This year’s steady decline in mortgage interest rates has taken another step down the ladder over the past week. Rates have dropped all the way to 2.81% , down from 2.87% last week and down from the previous record low of 2.86% in September, according to the
U.S. Democratic presidential candidate Joe Biden speaks during a campaign event at United Association (UA) Plumbers Local 27 in Erie, PA, October 10, 2020. Kevin Lamarque | Reuters Democratic presidential nominee Joe Biden warned campaign donors on Thursday that President Donald Trump is “going to throw everything but the kitchen sink at me” during the
U.S. Democratic presidential candidate Joe Biden speaks during a campaign event in Toledo, Ohio, October 12, 2020. Rebecca Cook | Reuters Democratic presidential candidate Joe Biden’s tax plan would give an average tax cut of $620 to middle income earners, according to a new analysis, while top earners would face a steep increase. The analysis,
IMF Managing Director Kristalina Georgieva. Samuel Corum | Getty Images Kristalina Georgieva, the managing director of the International Monetary Fund, told CNBC Thursday that she has “no doubt” the U.S. will implement a new economic stimulus package that will help reduce the current uncertainties for the global economy. The IMF boss said that the
James Gorman David A. Grogan | CNBC Morgan Stanley is set to report third-quarter earnings before the opening bell on Thursday. Here’s what Wall Street expects: Earnings: $1.28 a share, less than 1% higher than a year earlier, according to Refinitiv. Revenue: $10.64 billion, 6% higher than a year earlierWealth management: $4.45 billion, according to
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
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
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,
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
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
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
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
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
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