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.
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.
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 .
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.
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.
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.
"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.
Chicago-based Boeing (NYSE: BA) has operations around the country. Here are other recent stories reported by The Business Journals. The Trump effect could give Boeing an edge over Airbus in the fight for Delta's big jet deal Boeing may have gained an edge over Airbus as the jet makers battle for a Delta Air Lines order of up to 100 single-aisle jets, thanks to the Trump effect, an aerospace analyst said Monday. (Puget Sound Business Journal) Boeing tea leaves signal more potential Wichita-boosting plans News surrounding the Boeing Co. is sending up more signs that a passenger version of its 767 model might be nearing a restart, a move that would drive additional work in Wichita in the future. (Wichita
What a year it's been for Bitcoin. The cryptocurrency has continued to soar from lows of $778 in January 2017 to record highs of more than $17,000 on Dec. 12. As we move forward into 2018, there are a number of Bitcoin developments worth monitoring, not all of them having to do with just its price.
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.
Coinbase, the leading U.S. platform for buying and selling major digital currencies, said twice on Tuesday that transactions in ethereum (Exchange: ETH=) were "temporarily disabled." In the morning New York time, Coinbase said buys and sells of ethereum and litecoin were temporarily disabled. Earlier, a spokesperson for Coinbase said in a statement that "the site is seeing high traffic volume at the moment and some users may be experiencing intermittent service outages." Ethereum seven-day performance Source: CoinMarketCap Coinbase's GDAX exchange website also said there is a "partially degraded service," as of 2:38 p.m. Ethereum briefly surged more than 23 percent Tuesday to a record high of $637.62, according to CoinMarketCap.
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%.
The Federal Reserve raised its benchmark interest rate again on Wednesday. The Fed adjusts the interest rates that banks charge to borrow from one another, which is eventually passed on to consumers. Some economists say that what the Fed is doing now is a bit unusual because it's raising rates even though inflation is quite low.
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.
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 .
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.
Regeneron Pharmaceuticals, Inc. REGN along with partner Sanofi SNY announced positive top-line efficacy results from a pivotal phase II study of its experimental candidate, cemiplimab. The EMPOWER-CSCC 1 study is being conducted on 82 patients with a
T-Mobile US Inc said on Wednesday that it would launch a new streaming television service next year after buying startup Layer3 TV for an undisclosed amount. The moves come as competitors seek ways to provide content to win over customers in a saturated mobile market, and after the No. 3 U.S. wireless carrier and No. 4 rival Sprint Corp ended merger talks last month. T-Mobile Chief Financial Officer Braxton Carter said last week at an investor conference that the company would now focus on smaller, "tuck-in" acquisitions.
Swedish payments company iZettle AB is said to be open to a sale as an alternative to preparing for an initial public offering, in a so-called dual-track process, according to a person familiar with the company's plans. The company, which provides terminals that allow small businesses to easily take card payments and also offers financial services, announced Wednesday that it has raised 40 million euros ($47 million) to fund growth. The round was led by existing investor Dawn and the Fourth Swedish National Pension Fund.
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
By David Morgan and Amanda Becker WASHINGTON (Reuters) - Congressional Republicans reached a deal on final tax legislation on Wednesday, clearing the way for final votes next week on a package that would slash the U.S. corporate tax rate to 21 percent and cut taxes for wealthy Americans. Under an agreement between the House of Representatives and the Senate, the corporate tax would be one percentage point higher than the 20-percent rate earlier proposed, but still far below the present headline rate of 35 percent, a deep tax reduction that corporations have sought for years. As they finalized the biggest tax overhaul in 30 years, Republicans wavered for weeks on whether to slash the top income tax rate for the wealthy.
On Wednesday, the Federal Reserve raised interest rates by 0.25%, the central bank’s third rate hike of the year and the fifth since the financial crisis. The Fed’s benchmark interest rate target is now pegged in a range of 1.25%-1.50%, the highest since October 2008. On Thursday, investors will move past the Fed with the November report on retail sales, one of the month’s biggest economic data points, set for release in the morning.
Asian stocks were mixed on Thursday after the Fed raised rates again, meeting investor expectations but providing few surprises. Hong Kong's Hang Seng rose 0.1 percent to 28,258.05 but the Shanghai Composite in mainland China lost 0.2 percent to 3,297.78. FED RAISES: In a widely expected move, the Federal Reserve raised its benchmark rate for the third time this year, by increasing its short-term rate by a quarter point.