With the launch of its IPO Wednesday, food delivery service DoorDash is on the verge of being valued at up to $32 billion. For CEO and co-founder Tony Xu, that lucrative public offering would make him a billionaire at just 36 years old. Xu owns a stake of about 5% of the company he co-founded
Month: December 2020
Courtney Keating | E+ | Getty Images Talk to anyone who’s gone through divorce and they’d likely say the experience was no walk in the park. Yet the notion may be weighing on more spouses during the pandemic, some research shows. For instance, based on Loanry.com’s internal data, there’s been a 62% increase in loan
In this installment of Willis Weighs In, Benjamin M. Willis, contributing editor for Tax Notes Federal, and Jasper B. Smith, executive editor for commentary at Tax Notes, discuss the fundamentals of tax planning. About the Guests Benjamin M. Willis is a contributing editor for Tax Notes Federal. He has worked in PwC’s national mergers and acquisitions and international tax services
A buyer still has to look HARD to find the name and contact information of the exclusive listing … [+] agent on properties in New York City. getty Technology governs the process of shopping for residential real estate like never before. During the 9 months (and counting) of the pandemic, owners and seekers of homes
If you are considering large gifts and you’re able to use your IRA, there’s no more tax-efficient … [+] gift you can make. getty Every December, our attention turns to holiday celebrations and gift-giving, and while the pandemic may impact family gatherings in 2020, it’s still a wonderful time of year. It’s also a natural
Chobani Probiotic yogurt Chobani Chobani is jumping on the probiotics trend with three new yogurt-focused product lines that claim to boost gut health and immunity. The privately held company is the No. 1 maker of Greek yogurt, but it’s been expanding its product offerings as yogurt consumption has stagnated, adding oat milk, yogurt and coffee
U.S. stock index futures were little changed in overnight trading on Wednesday as investors continued to assess progress on additional stimulus measures, as well as developments on the Covid-19 vaccine front. Futures contracts tied to the Dow Jones Industrial Average gained two points while S&P 500 futures were flat. Nasdaq 100 futures fell 0.1%. During
A man enters a building with rental apartments available on August 19, 2020 in New York City. Eduardo MunozAlvarez | VIEW press | Corbis News | Getty Images Renters started returning to Manhattan in November, lured by a record drop in rental prices, according to a new report. The number of new leases in November
It appears that lawmakers on both sides of the aisle are in favor of extending the student loan forbearance. Al Drago/Bloomberg via Getty Images Student loan borrowers may not have to worry about their monthly bills until at least May of next year. In a summary of bipartisan legislation circulated on Wednesday that could become
Topline To avert a looming government shutdown this weekend, the House of Representatives Wednesday passed a continuing resolution that will keep the government running and give lawmakers more time to pass a comprehensive coronavirus relief bill and a $1.4 trillion omnibus budget bill for the 2021 fiscal year. House Majority Leader Steny Hoyer (D-MD) talks
NYC’s real estate market is providing clarity again. Ariel Property Advisors Many seem keen to ring a death knell for New York City’s commercial real estate sector, but recent transactions are providing clarity and short-term positivity. There are, of course, a few headwinds delaying a return to normalcy right now. The city’s COVID-19 positivity rate
getty Over the past quarter-century, the American labor market went through a quiet transformation. The share of workers 55 or older more than doubled, rising from 12% in 1995 to nearly 25% in 2020. At no point in U.S. history have older workers been more essential, and economists predict the trend to continue. Yet this
Consumers are spending more via Bank of America accounts this year, in the midst of the coronavirus pandemic, than they did in 2019, according to CEO Brian Moynihan. “When you look at what they’re spending year-to-date, they’ve spent more in 2020 than they did in 2019, and that is now across $2.7 trillion in money
U.S. stock futures were flat in overnight trading on Tuesday, building on recent strength that’s pushed the major averages to record highs. Dow futures rose 34 points. S&P 500 futures and Nasdaq 100 futures rose 0.12% and 0.1%, respectively. Fueling the rally is optimism about the U.K.’s rollout of Pfizer’s Covid-19 vaccine on Tuesday. Hope
The soaring shares of vaccine makers has created a new wave of billionaires, raising questions about pandemic profits amidst an increasingly unequal recovery. The surge in shares of BioNTech, the German biotech firm that’s partnering with Pfizer on its vaccine, has created $4 billion in added wealth for its CEO and founder, Ugur Sahin. He
CNBC’s Jim Cramer said Wednesday he believes there is “rabid money” interested in upcoming technology IPOs, but he urged young investors not to chase after DoorDash once the third-party delivery company goes public. “When people know the brand, the younger inventors just say, ‘You know what, get me some,'” Cramer said on “Squawk on the Street,” “DoorDash
Image Source | DigitalVision | Getty Images As Capitol Hill lawmakers continue to work on the next round of coronavirus relief, a big question remains: Will there be a second round of $1,200 stimulus checks? Based on one new plan, lawmakers for and against those checks could split the difference and send $600 one-time payments
Despite the demands of Covid, the IRS is on the hunt for high income non-filers. Getty Images Eric Hylton, the commissioner of the Internal Revenue Service Small Business/Self-Employed Division, threw down the gauntlet December 3, 2020 with an article the IRS pushed out on its newswire on how the IRS views high-income non-filers. If there
Billionaires Elon Musk, Jeff Bezos and Bill Gates all live in states that don’t collect income tax. Credit: Saul Martinez/Getty Images, Michael Prince for Forbes, Chesnot/Getty Images Tesl TSLA a CEO Elon Musk has moved his primary residence from California to Texas, according to reports on Tuesday, which means the three richest people in American—Musk,
One million older workers have left the labor force amid the pandemic. getty Job growth is slowing amid surging coronavirus infections. Many workers 55 years old and older are leaving the labor force in droves, while others keep working, even at high risks to their health and that of their families. More than a million
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