Amazon CEO Jeff Bezos is now worth $202 billion, according to the Bloomberg Billionaires Index. Bezos is the first person to surpass the $200 billion threshold, CNBC reported, and remains the richest person in the world. For this milestone, Bezos can thank his company’s success, as most of his personal wealth is tied to his more than 57
Month: August 2020
The New York Stock Exchange has won the approval from regulators to allow companies to issue new shares through direct listings, creating a cheaper alternative to the traditional initial public offering. The Securities and Exchange Commission said in an order Wednesday evening that it approved a new type of direct listing where companies can simultaneously
Images By Tang Ming Tung Some Americans who are still waiting for their $1,200 coronavirus stimulus payments may be relieved to know their checks will soon be in the mail. The IRS announced this week that 50,000 people will receive catch-up payments for money that was withheld due to their spouse’s past-due child support. Catch-up
There are potentially serious consequences if Social Security’s payroll taxes are permanently … [+] reduced or eliminated. getty President Trump has made statements recently about the possibility of reducing or eliminating the payroll tax that funds Social Security’s benefits. Understandably, these statements are generating a lot of concern among all quarters, due to the potentially
NAPLES, CAMPANIA, ITALY – 2020/06/12: A medical technician works in the laboratory of the Infectious … [+] diseases department for coronavirus (COVID-19)handling samples of coronavirus COVID 19 tests at the microbiology laboratory of Naples. (Photo by Salvatore Laporta/KONTROLAB/LightRocket via Getty Images) KONTROLAB/LightRocket via Getty Images Daily rapid home testing may be what allows us to
Through fast timing and big bets, Todd McKinnon grew his cloud security company, Okta, into a $27 billion business. Now the largest opportunity of his career has landed in his lap: a worldwide pandemic. Todd McKinnon sits in front of his green screen, with a boyish face but weary eyes, talking about his guilt. Over 10%
A hospital staff sanitizes the premisis inside the new covid hospital at Sector 39, on August 7, 2020 in Noida, India. Sunil Ghosh | Hindustan Times via Getty Images A new study that tested multiple surfaces of a New Jersey oncology unit found no traces of the coronavirus, suggesting that strict cleaning and disinfecting protocols
A Tiffany & Co. employee wears a protective mask as the city continues Phase 4 of re-opening following restrictions imposed to slow the spread of coronavirus on August 1, 2020 in New York City. The fourth phase allows outdoor arts and entertainment, sporting events without fans and media production. Cindy Ord | Getty Images Entertainment
The Federal Reserve announced a major policy shift Thursday, saying that it is willing to allow inflation to run hotter than normal in order to support the labor market and broader economy. In a move that Chairman Jerome Powell called a “robust updating” of Fed policy, the central bank formally agreed to a policy of
Some workers in the U.K. will be paid £130 ($172) if they are required to self-isolate amid the coronavirus pandemic, the British government announced Thursday. The payouts will be available to workers with low incomes who can’t work from home and live in areas with high numbers of confirmed coronavirus cases. Workers who test positive
CNBC’s Jim Cramer on Thursday praised the Federal Reserve and its chairman, Jerome Powell, for updating their approach to monetary policy to help the U.S. economy recover from the coronavirus pandemic. “Powell is on the side of the bulls,” Cramer said on “Squawk on the Street.” The Fed earlier Thursday said it would be willing to
Ariel Skelley | DigitalVision | Getty Images The idea of “slowing down” in retirement is quickly becoming an antiquated concept. To today’s retirees, retirement is no longer simply defined as the end of work, but the beginning of a whole new chapter of life, with new choices, freedoms and challenges. This new beginning is born
getty In a positive development for bar applicants and the reputation of the Florida legal community, the Florida Supreme Court announced on Wednesday, August 26, 2020 that the Florida Board of Bar Examiners (“FBBE”) rescheduled the bar examination to take place on October 13th, with October 14th being reserved as a day to continue testing
We remain in a deep recession with growing long-term unemployment and other signs of economic slowdown. But so far, there’s no sign of additional Federal help as we enter the fall election season. CHARLOTTE, NC – AUGUST 25: (EDITORIAL USE ONLY) In this screenshot from the RNC’s livestream of the … [+] 2020 Republican National Convention, U.S. President
This summer has seen a downward slide in mortgage interest rates getty The downward trend of mortgage interest rates has continued this week, with average rates reaching 2.91% for a 30-year fixed rate loan, according to the weekly report by Freddie Mac. This is a decrease from last week’s rates when they reached 2.99%, but
Hurricane Laura made landfall in southwestern Louisiana as a ferocious Category 4 monster with 150 mph winds early Thursday, swamping a low-lying coast with ocean water that forecasters said could be 20 feet deep and unsurvivable. The National Hurricane Center said the storm, which intensified rapidly Wednesday before plowing into land, came ashore at 1
Economic forecaster Lakshman Achuthan is delivering an encouraging outlook. He finds a surge in commodity prices suggests the industrial space will lead the next leg of the recovery. “[It] is really firing on all cylinders,” the Economic Cycle Research Institute co-founder told CNBC’s “Trading Nation” on Wednesday. He builds his bullish case in a chart
Tenants of the Woodner apartment building in Washington, D.C., protest to demand their rent be forgiven during the Covid-19 pandemic. NICHOLAS KAMM/AFP via Getty Images Unemployed workers living in most U.S. cities can’t cover basic living expenses with jobless benefits alone. In fact, Americans living in just 12 out of 109 metro areas could afford
Across our country, there is no uniform message about how much we can visit and socialize with others, particularly our aging parents. We know for certain that people over 65 are at greater risk for getting sick from Covid-19 than younger people but that does not tell us what’s ok or not about visiting when
CONCERNING: The IRS says up to 800,000 taxpayers may have mistakenly thrown their Covid-19 stimulus … [+] payments in the trash. Fortunately, payments can be reissued. getty At a recent online meeting for tax professionals in the New England region, IRS staffers gave updates on IRS operations and, more significantly, on the Covid-19 Economic Impact
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