By David Robinson, Next Avenue Earlier this year saw a frenzy in “meme stocks” like GameStop GME . You’ll remember: speculators — many of them in their 20s and 30s — clamored to buy shares, sometimes with borrowed funds, based on tips they’d heard, only to see those stocks plummet after soaring. More recently, we’ve seen
Month: May 2021
Buried in an already disheartening New York Times article about how homeless Americans are struggling to get their stimulus checks is an even more depressing accusation: finance bros are offering to help homeless people get their stimulus payments, not out of the goodness of their heart, but in exchange for a hefty fee. The anecdote
In this week’s look at properties abroad, I took a look at how the high-end housing supply in Manhattan stacks up against two traditionally second-home markets in Honolulu and the French Alps. From a custom oceanfront compound in Honolulu to a sophisticated chalet in Courvechel to a designer-done apartment on Park Avenue, here’s a sample
NFL Commissioner Roger Goodell announces Kwity Paye as the 21st selection by the Indianapolis Colts during round one of the 2021 NFL Draft at the Great Lakes Science Center in Cleveland, Ohio. (Photo by Gregory Shamus/Getty Images) Gregory Shamus | Getty Images Sport | Getty Images The National Football League’s opening night of its annual
In this article XOM .CRBQX CVX Exxon Mobil returned to profitability during the first quarter, beating top- and bottom-line estimates for the period, as the company recovers from the havoc wreaked on the energy sector by the coronavirus pandemic. The oil giant earned $2.7 billion during the period. The company posted earnings per share of
Avishek Das | LightRocket | Getty Images Robinhood, the free-trading app that helped drive a surge in retail investing during the pandemic, has switched to using JPMorgan Chase to handle crucial money transfers into customers’ accounts. The start-up emailed customers this week to say it is now using JPMorgan, the biggest U.S. bank by assets,
eric1513 | iStock | Getty Images Things are looking up for the 44 million Americans saddled with student loans. President Joe Biden has said he supports canceling $10,000 in student loans per borrower. Facing pressure from other Democrats, progressives and borrowers, Biden has now also asked his Education secretary to prepare a memo on his
When COVID-19 first shutdown the economy, fears spiraled, ranging from would businesses survive, to could this destroy the American economic system and ruin the future of retirement. It turns out, from a retirement perspective, the more things changed, the more they stayed the same. With vaccination rates rising, the end of the pandemic is within
In this installment of Willis Weighs In, Tax Notes contributing editor Benjamin M. Willis talks with Anthony J. Nitti, partner at RubinBrown LLP, about the court cases that make up the foundation of tax law. Here are a few highlights from their discussion, edited for length and clarity. Willis: We are here today to talk about something
I cannot let April close without mentioning the bulge in our state. Texas has grown since the last census in 2010, so much that we are now picking up not one, but two seats in the U.S.House of Representatives. And we are the only state to do so; five other states will each pick up
Trevor Lawrence is the favorite to be picked No. 1 overall in the NFL draft, and will receive a contract worth nearly $37 million. Ezra Shaw | Getty Images Sport | Getty Images Add Fanatics to the sports companies aligned with quarterback Trevor Lawrence. The e-commerce giant announced a multiyear deal on Friday for rights
In this article GOOGL MSFT AMZN AAPL FB L-R: Mark Zuckerberg, CEO of Facebook, Satya Nadella, CEO of Microsoft, and Sundar Picahi, CEO of Google. Reuters | Getty Images The tech industry is really two industries. There are the five giants, which operate at an almost unimaginable scale, and then there’s everybody else. Alphabet, Amazon,
zhongguo Sustainability-focused funds attracted record inflows during the first quarter, pushing global assets under management in ESG funds to nearly $2 trillion, according to a report from Morningstar released Friday. The rise underscores the momentum behind ESG investing, or when environmental, social and governance factors are considered. Assets in these types of funds first topped
Leon Cooperman at the 2019 Delivering Alpa conference in New York on Sept. 19. 2019. Adam Jeffery | CNBC Billionaire investor Leon Cooperman told CNBC on Friday he expects the stock market will be lower than current levels one year from now. Cooperman’s comments came one day after the S&P 500 notched yet another record close
President Joe Biden attends the Democratic National Committee’s “Back on Track” drive-in car rally to celebrate his 100th day in office at the Infinite Energy Center in Duluth, Georgia, April 29, 2021. Evelyn Hockstein | Reuters People who earn more than $400,000 would be subject to the 3.8% Medicare tax, if President Joe Biden’s new
If you have been following the new changes in the law governing inherited IRAs, you need to know that the current IRS Publication 590-B (2020), the bible on individual retirement account withdrawals, contains an error. I confirmed this with an IRS spokesperson, who stated that the RMD example for inherited IRAs in IRS Publication 590-B
The American Families Act — Biden’s new spending proposal covering paid leave, child benefits, childcare subsidies, tuition-free community college, and more, but lacks one component progressives had been calling for: an expansion of Medicare, in terms of benefits provided and age eligibilities. Here’s an excerpt from yesterday’s Washington Post: “Congressional Democrats are planning to pursue
Yesterday morning, two major real estate investment trusts – Realty Income O and Vereit Inc. – announced that they’ll be merging this year. The deal includes Realty Income acquiring Vereit in an all-stock transaction, with the latter’s shareholders receiving 0.705 shares of the takeover stock for each of their own they currently hold. When completed,