If you're planning on hitting some yard sales this weekend, there is one you may want to put at the top of your list.
Q.: I want to retire at 55 and was under the impression I had to wait until I was 59½ years old to avoid the 10% early withdrawal penalty on my retirement savings. A.: 403(b) plans are retirement savings accounts for certain employees in the nonprofit sector and public schools. “That’s something a lot of people don’t understand,” says Mike Piershale, president of Piershale Financial Group in Crystal Lake, Ill.
Sequoia Capital has brought aboard Jess Lee as its eleventh investing partner in the U.S., becoming the firm’s first senior female U.S. investor in its 44-year-old history. Lee was a former Google product manager turned CEO of the fashion site Polyvore, which was acquired for $230 million in cash by Yahoo last year. She had stayed on with Yahoo, which is now being sold, maybe, to Verizon, the parent company of TechCrunch. Lee seemed to demonstrate a strong eye for startups long ago. Indeed, in 2008, as an avid user of Polyvore, which was then just months old, Lee wrote to its founder, Pasha Sadri, with whom she shared mutual friends. After offering him her unsolicited feedback via email about
AT&T and Time Warner are beginning talks for a potential merger, according to a report from Bloomberg. Bloomberg reported senior executives from both companies have met to discuss business strategies including talks of a potential merger. The talks were "informal" at this time and no financial advisers have been hired, the sources said. Sources previously told CNBC that AT&T was in the market to purchase a media property soon. In order to stay competitive with the likes of Verizon and Comcast, the telecommunications company needs to move into the media space. Doing so would give it the resources to become an advertising giant, because it would own not only Internet and cable access but content
Pulled over for traffic violations, Jessica Jauch was held for 96 days in a Mississippi jail without seeing a judge, getting a lawyer or having a chance to make bail. "I think each state suffers from the symptoms we see in Mississippi," said Brandon Buskey, a senior staff attorney for the ACLU's Criminal Law Reform Project.
That overstuffed wallet of yours can’t be comfortable to sit on. It’s probably even too clunky to lug around in a purse, too. And with every new bank slip that bulges from the seams, your personal information is getting less and less safe. With just your name and Social Security number, identity thieves can open new credit accounts and make costly purchases in your name. If they can get their hands on (and doctor) a government-issued photo ID of yours, they can do even more damage, such as opening new bank accounts. These days, con artists are even profiting from tax-return fraud and health-care fraud, all with stolen IDs. We talked with consumer-protection advocates to identify the eight things
Mirror, mirror on the wall, which asset is most mispriced of all? According to a Goldman Sachs alum who predicted the financial crisis in 2008, it’s gold. The precious metal should be a lot more expensive when the likelihood of a global financial collapse and a move toward negative interest rates is accounted for, says Global Macro Investor founder Raoul Pal, who now sees a U.S. recession within 12 months. Recent losses for gold may have dented investor confidence. Gold GCZ6, -0.10% is up 18% this year, but the first full week of October marked its worst seven-day performance in over three years; it also posted a three-month loss of nearly 6% on a continuous basis. Uncertainty about Brexit and
Apple says it has been buying Apple chargers and cables labeled as genuine on Amazon.com and has found nearly 90 percent of them to be counterfeit. The revelation comes in a federal lawsuit filed by Apple against a New Jersey company on Monday over what Apple says are counterfeit products that were sold on Amazon. In the lawsuit, Apple says Mobile Star imprinted Apple logos on cables and chargers that "pose a significant risk of overheating, fire, and electrical shock." It says the chargers and cables were being sold on Amazon as genuine Apple products.
British American Tobacco (BATS.L) has offered to buy U.S. tobacco company Reynolds American Inc (RAI.N) in a $47 billion deal that would bring together Newport, Kent and Pall Mall cigarettes in the world's biggest listed tobacco company. The takeover would give BAT a leading position in the high-value United States market and more premium brands such as Camel which it can sell in countries including Russia and Turkey where demand for Western cigarettes is still growing. The British group, which already has a 42 percent stake in Reynolds, said its offer valued the company's shares at $56.50, of which $24.13 would be in cash and $32.37 would be in BAT shares, representing a premium of 20 percent over the closing price of Reynolds stock on Thursday.
A 50-year-old woman who died after a car wreck last month in California is the 11th U.S. victim of Takata Corp.'s defective air bag inflators. The National Highway Traffic Safety Administration confirmed the woman's death on Thursday but didn't release her name. Up to five people also may have been killed by the air bags in Malaysia, bringing the number of deaths globally to as many as 16.
Influential short-seller Jim Chanos, who runs hedge fund Kynikos Associates, has been betting against two companies founded by billionaire serial entrepreneur Elon Musk — Tesla Motors (TSLA) and SolarCity (SCTY). “The fact of the matter is this is a company — in Tesla’s case — that’s now really going to need to step up the production.
Microsoft shares popped up to an all-time high of above $60 on Thursday as strength in its cloud business helped propel it past Wall Street financial targets in its fiscal first quarter. Microsoft stock was up over 5% on the solid beat on the top and bottom lines in after-hours trading. Investors are looking for signs of continued growth in Microsoft's all-important cloud computing businesses, as it shifts away from selling boxed software and into a subscription- and usage-based billing model.
Traders have lost faith in Walgreens' giant deal to buy Rite Aid. Rite Aid's shares were sliding Wednesday after a report from the New York Post said the supermarket chain Kroger may no longer be interested in acquiring 650 stores from the two companies as part of that deal. Walgreens and Rite Aid would have to sell the stores to gain antitrust approval for the deal.
Bungling a job interview is a truly terrible experience. It's possible that you inadvertently insulted the interviewer or failed to stick the landing with a particularly dumb question. Of course, if you recognize a few items on this list, that doesn't necessarily always mean you blew the job interview.
T-Mobile, the country's No. 3 wireless carrier, will pay $48 million for not clearly telling customers how "unlimited" data plans weren't really, well, unlimited. The Federal Communications Commission said Wednesday that T-Mobile had a policy to slow down the speeds of customers who were the heaviest data users. The FCC said T-Mobile started doing a better job with disclosures in June 2015.
Hewlett Packard Enterprise has a rough road ahead as it faces layoffs, spinoff fallout and the sale of three IP/tech portfolios. HPE, created almost a year ago out of the breakup of Hewlett-Packard Co., began laying off staffers this week, according to social media buzz and the Layoff.com. HPE spokeswoman Meghan Fintland confirmed to GeekWire that “previously announced restructuring changes took place.” “Workforce changes that are part of a company-wide strategy to give HPE the needed workforce to be a more nimble customer and partner-centric company,” Fintland told GeekWire. The news comes a week after HP Inc., which sells printers and PCs, revealed plans to eliminate an additional 3,000 to
Oct. 20 -- Verizon Communications reported subscriber growth that fell to its lowest level in six years during the third quarter as its rivals took a more competitive stance on pricing. Bloomberg Intelligence's John Butler reports on "Bloomberg Daybreak: Americas."
These are the worst places to live based on living costs, taxes and other factors important to retirees. Nearing retirement? Think twice about where you plan to live. Some states are more welcoming than others. See Also: 10 Worst States for Taxes on Retirees We ranked all 50 states on cost of living, taxes, health care and other factors important to retirees. Here are the three states that fared the worst. Finishing dead last is New York. Living expenses in the Empire State are 29% above the national average. More worrisome: The percentage of residents 65 and up living in poverty is above average, too. The runner-up is New Jersey. The Garden State’s tax policies can be tough on retirees. There’s
All the chips are falling into place for a Qualcomm and NXP Semiconductors deal to be finalized and announced as early as next week, according to Bloomberg. The market responded with shares of Qualcomm and NXP sharply rising 3 and 4 percent in Thursday afternoon trading. The stocks closed slightly below those levels with Qualcomm ending the day about 2 percent higher, while NXP gained more than 3 percent. Qualcomm is willing to offer 75 percent cash and 25 percent stock, while NXP reportedly prefers an all-cash offer. NXP is is hoping for a $120 per share deal, but Qualcomm is inching towards $110 per share. However, Bloomberg reports that both sides are closing the gap more and more, indicating
Two top lawmakers on Thursday demanded information from a drug company that has raised prices on a leukemia drug, calling increases of tens of thousands of dollars a sign the company puts profits before patients. Sen. Bernie Sanders, I-Vt., and Rep. Elijah Cummings, D-Md., the top Democrat on the House Oversight and Government Reform Committee, wrote ARIAD Pharmaceuticals and asked about price hikes for Iclusig, which is used to treat chronic myeloid leukemia in some people. "These outrageous sales tactics indicate that ARIAD is more concerned with its profit than with its patients," Sanders and Cummings wrote.
Gold slipped on Friday as the dollar gained but was still on track to finish the week higher, clawing back recent losses on higher demand. Spot gold was down 0.2 percent at $1,263.86 an ounce at 0915 GMT. U.S. gold futures fell 0.2 percent to $1,265.
If the third presidential debate between Hillary Clinton and Donald Trump took place in 1996, you’d scarcely notice the economy they were talking about was 20 years in the future. There was no discussion of the digital economy when Trump and Clinton met in Las Vegas to spar for one final time before voters hit the polls on Nov. 8. Clinton made one vague reference to “high-tech manufacturing,” a comment that could have come any time during the last 30 years.
Retirees have special concerns when evaluating state tax policies. For instance, the mortgage might be paid off, but how bad are the property taxes—and how generous are the property-tax breaks for seniors? Are Social Security benefits taxed? What about other forms of retirement income—including IRAs and pensions? Does the state impose its own estate tax that might subtract from your legacy? The answers might just determine which side of the state border you’ll settle on in retirement. These 10 states impose the highest taxes on retirees, according to Kiplinger’s exclusive 2016 analysis of state taxes. Three of them treat Social Security benefits just like Uncle Sam does—taxing as much as 85%
Britain should not go it alone by adopting its own book-keeping rules after it leaves the European Union, though the global regulations in place could be tailored, the UK's accounting watchdog said on Friday. Listed companies in Britain and across the EU apply the accounting standards adopted by the International Accounting Standards Board.
Non-resident investors in Irish real estate funds will have to pay a 20 percent withholding tax from next year on certain deals, the finance ministry said on Thursday, in a further clampdown on structures used to minimise tax bills. Ireland last month proposed to amend tax laws for "Section 110" special purpose vehicles and widened the net on Thursday to include all funds where 25 percent of their value is made up of Irish real estate assets. Such a change targets two other popular types of funds used by foreign investors to buy up swathes of Irish property in recent years: Irish Collective Asset-management Vehicles (ICAVs) and Qualifying Investor Alternative Investment Funds (QIAIFs).