
President Biden proposes eliminating a loophole that allows wealthy people to pass assets tax free to their children but Republican lawmakers say it will hit middle class Americans.
Futures tracking the S&P 500 hovered at record highs on Friday as investors marked time ahead of closely watched employment data for more clarity on the U.S. jobs market and the fate of easy monetary policy. The Labor Department's most comprehensive jobs report, due at 8:30 a.m. ET, is expected to show U.S. job growth accelerated in June as companies boosted perks for workers amid booming demand, following reopening. Markets have been spearheaded by inflation and economic data in the past few sessions, with investors fearing a potentially stronger-than expected economic recovery and runaway inflation could force the Federal Reserve to pare back its support.

‘He says he doesn’t want to pay rent, as he is not getting anything in return and the money is wasted. He thinks I am making money from him.’

(Bloomberg) -- International Business Machines Corp. President Jim Whitehurst is stepping down after three years at the century-old technology company. The shares fell the most in five months.The departure marks one of the first major corporate reshuffles under Chief Executive Officer Arvind Krishna, who took the helm last year and has moved quickly to reshape IBM and return it to growth. Whitehurst, 53, is the former CEO of Red Hat Inc., which IBM announced it was acquiring in 2018 in a $33 bil
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