The Republicans' proposed tax bill would change income tax brackets in 2018. In the midst of the political maneuvering, we've calculated how President Donald Trump's tax plan could affect you if tax reform is signed into law. By looking at what Trump's tax plan means for Americans' take-home pay at different income levels, our team at Business Insider got a number of emails that made us realize something important: Most people don't understand how tax brackets actually work.
Delta Air Lines has agreed to a firm order for 100 Airbus A321neo jets. Delta Air Lines announced a firm order for 100 Airbus A321neo airliners on Thursday with a list value of $12.7 billion. "This is the right transaction at the right time for our customers, our employees, and our shareholders," Delta CEO, Ed Bastian said in a statement.
IBM’s (IBM) latest project has it teaming up with some big names. Companies like JPMorgan, Barclays and Samsung will all work together with IBM to uncover practical uses for quantum computing. Ford (F) is denying a Reuters report this morning that the auto giant will build and import Fusion sedans from China to the United States.
Disney has agreed a deal to buy much of 21st Century Fox's studio and television production assets for $52.4 billion. The companies said in a press release that the acquisition would result in at least $2 billion in "cost savings from efficiencies," which could mean layoffs. Disney has agreed a deal to acquire much of 21st Century Fox's studio and television production assets for $52.4 billion.
Republican leaders reached an agreement on their final tax bill on Wednesday, making it look more likely that tax reform will be passed before the end of the year. This final bill is the product of a conference committee to reconcile differences between the House and Senate versions that Republicans in those chambers passed. Tax reform is being billed as a boon for America's middle class by Republicans and the White House.
"We see that 2018 might not be quite so happy for OPEC producers, " the Paris-based organization said in its latest monthly report Thursday. The IEA said that there were signs that the rise in U.S. crude oil supply was likely to continue into 2018 and upset rivals who are cutting back. Major oil producing group OPEC and ten non-OPEC producers led by Russia continue to cut production in order to boost global oil prices and rebalance markets put out of kilter in 2014 by a glut in supply and lackluster demand.
In case you missed it, Sears announced it was pushing out a debt maturity from 2018 to 2019. All in, it's a huge sign that Sears could be hanging "going out-of-business" signs in many more stores in 2018. Sears stock tanked almost 6% on Tuesday as the plans were likely leaked (this stuff is always leaked) -- it would be shocking if the stock doesn't dive again Wednesday.
At the center of the recession, and the financial crisis that rocked markets in 2008, was the housing bubble. The number of homeowners who are underwater on their mortgage – meaning they owe a lender more than their home is worth – is still more than double what was normal in the years before the bubble. It may seem jarring that more than a million homeowners still haven’t climbed above water so many years after the bubble burst, even in a housing market supposedly starved for inventory.
If you have been planning to buy a car, it might be smart to do it before December 31 so you can deduct the sales tax you pay. Republicans have proposed capping the property tax, state and local income tax, and sales tax deduction to a total of $10,000. Purchasing a car this December might be a smart idea for taxpayers in states with no state income taxes who itemize and claim the sales tax deduction, according to TaxAudit.
For some soon-to-be retirees, retirement will look a lot like their 9-to-5 life. Nearly 3 out of 4 Americans plan to work beyond traditional retirement age on at least a part-time basis, according to a recent Gallup poll. A separate AARP study found that 37 percent of working Americans ages 50 to 64 said they intend to work after retiring from their current careers .
UPS and the Teamsters are at it again, this time over holiday working hours. With record-breaking demand for United Parcel Service Inc. (UPS) following Black Friday and Cyber Week sales, the Atlanta-based shipping giant informed drivers on Dec. 1 that they could be scheduled to work 70 hours over eight days during the holiday season (or the more typical 60 hours over seven days), which is in compliance with DOT regulations. Jim Hoffa, Teamsters General President, expressed his "outrage and concern" in a letter dated Dec. 4 to UPS CEO David Abney about the company bumping up the workweek.
The Senate is reportedly working on a draft of a house financing reform bill that could have huge implications for Fannie Mae and Freddie Mac. Since 2012, all of Fannie and Freddie's profits have been turned over to the government under the terms of their bailouts during the financial crisis. The good news for Fannie and Freddie started in May when Federal Housing Finance Agency director Mel Watt said it would be irresponsible to keep the two government-sponsored entities under government conservatorship without recapitalizing them to provide a cushion in the event of another housing market downturn.
Deliveries of the single-aisle planes will begin in early 2020 and the transaction includes options for an additional 100 aircraft, Delta said in a statement Thursday. The airline’s decision dealt a setback to Boeing’s efforts to sell its newest 737 model, the Max 10. The A321neo is “the best narrow-body product in the sky,” Delta Chief Executive Officer Ed Bastian said in a presentation to investors.
Teva Pharmaceutical Industries Ltd. will lay off more than a quarter of its workforce — 14,000 people — as part of a two-year cost-cutting plan aimed at turning the beleaguered generics company’s fortunes around. Its rivals have also been affected, including Mylan Inc. (MYL), Perrigo Co. (PRGO), Teligent Inc. (TLGT) and Dr. Reddy’s Laboratories Ltd. (DRREDDY.BO) .
Apple Inc. customers seem to be opting for cheaper models of the iPhone, according to Cowen and Co. analysis, suggesting that the company failed to cram enough new technologies into the iPhone X to justify the $999 price tag. Waiting times to order the flagship smartphone have shortened to a few days from the five to six weeks that were typical immediately after it was released in November, Cowen analyst Karl Ackerman said in a note to clients. “Some investors may conclude this relates to better sales momentum for the X, but we are increasingly concerned that demand has been below initial expectations as users appear to have gravitated toward the previous iPhone models,‘’ Ackerman wrote.
The “Fast Money” traders discuss what stocks will benefit from tax reform.
Shares of Nvidia Corp. ( NVDA) have had a rough couple of weeks, with a stock that has fallen by nearly 11.5% since November 24, while the S&P 500 has risen by almost 2.5%. To be fair, the iShares PHLX Semiconductor ETF ( SOXX) has fallen by nearly 7.5%.
Thirty-seven years ago Tuesday, Apple Inc. went public, raising a little over $100 million by selling its stock for $22 a share (40 cents on a split-adjusted basis). Some 40 Apple employees became instant millionaires, starting with Steve Jobs, who was suddenly worth $217 million. Apple has since gone on to do many amazing things, and for at least the last decade it has also been an amazing stock, with a market capitalization that last month topped $900 billion, an astounding figure.
Ripple, which calls its cryptocurrency XRP, has more than doubled in price this week. XRP, a cryptocurrency by Ripple that is focused on bank transfers, is up 48% in the past 24 hours after following a report major banks in Japan and South Korea plan to test the coin on Friday. The digital coin has gained $18 billion in market cap since Monday morning.
Billionaire investor and Fisher Investments founder and chairman Ken Fisher told TheStreet founder Jim Cramer that he's not buying into the bitcoin craze even as some of his contemporaries pile in. Want to be alerted before Cramer buys or sells NVDA?
The biotech industry witnessed a rebound in 2017 from last year’s challenges despite rising competition, pipeline setbacks, pricing pressure, slowdown in growth of mature products and generic competition for certain key drugs. The stock has a Growth Score of B and is currently valued at $17.57.
A group of 118 cafeteria workers at Yahoo’s headquarters in Sunnyvale voted this week to unionize. The move was in hopes of negotiating better health benefits and higher wages in the face of rising housing costs in Silicon Valley, the union representing the workers said. “I grew up and live in the east side of San Jose,” Yahoo cafeteria worker Agustina Sanchez said in a statement .
Farmers are the latest victims of China’s desire for cleaner air. Officials have forced natural gas-powered fertilizer plants to shut in areas like Sichuan and Yunnan to conserve the fuel for home-heating in the north, where demand is outpacing supply. The fertilizer cutbacks are yet another unintended consequence of China’s efforts to achieve blue skies by boosting natural gas consumption and limiting coal burning. The price of urea in Shandong province rose to the highest level in four years, and Chinese exports will likely drop to 4.3 million metric tons this year from 8.9 million in 2016, said Tang Feifei, an analyst with Zhongyu Information Technology Co.
The Cboe (CBOE)'s bitcoin futures (CBOE Futures Exchange: @XBT.1)fell 10 percent Wednesday, triggering a two-minute trading halt early Wednesday afternoon. The futures had triggered trading halts twice in their Sunday night debut as the futures surged