After a shockingly poor U.S. jobs report for April, Wall Street is rethinking just how strong the U.S. economy is. For now the good news still far outweighs the bad.
(Bloomberg) -- Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.The Federal Reserve’s much awaited interest-rate meeting this week is just one of a panoply by global central banks whose policies are increasingly diverging as economies respond in different ways to the coronavirus crisis.An anticipated decision in Washington on Wednesday to stay the course with an easing stance for the duration of the American summer may only underscore how what was o
In March, the investment bank relaunched its cryptocurrency trading desk after a three-year hiatus.
EV Aircraft company Vertical Aerospace announced last week that they would go public via a SPAC merger.
In a hugely important decision, on Saturday a federal district judge in Texas upheld a hospital’s right to require its employees to receive Covid-19 vaccines, and rejected claims that it violated federal law or coerced employees. The judge’s decision explicitly rejected the plaintiffs’ claims that Houston Methodist Hospital is engaged in Nazi-style medical experimentation by requiring its employees to vaccinate to protect staff and patients from Covid-19. It should give employers—especially those dealing with vulnerable populations, like hospitals, prisons, schools, nursing homes, and daycares—courage to require their employees to get the safe, effective Covid-19 vaccines.
NEW YORK (Reuters) -JPMorgan Chase & Co Chief Executive Jamie Dimon said on Monday the bank is holding around $500 billion in cash, putting it in a position to benefit from higher interest rates. "We've actually been effectively stockpiling more and more cash, waiting for opportunities to invest at higher rates," Dimon said during a virtual conference held by Morgan Stanley. "So our balance sheet is positioned (to) benefit from rising rates."
The IRS unveiled the tool Monday for people who made too little to file a tax return.
Below is a new list using the same criteria we used to pull this list of heavily shorted stocks during the Reddit/Robinhood mania in late January. The biggest short squeeze in the Russell 3000 appears to be Virgin Galactic Holdings Inc. (SPCE) which more than doubled in four weeks and was 27.82% sold short on June 11.
If you recently started receiving Social Security benefits, here are three reasons you may be getting less than you expected.
‘The pandemic sent my life back to the 1950s, as I had to cook, provide tech support and homeschool our child.'
Senseonics is flying as high short interest and a huge surge in social media mentions fuels another “Memic Monday.”
(Bloomberg) -- Members of the Walton family have sold 16.7 million shares of Walmart Inc. this year as they try to keep their stake in the world’s biggest retailer from ballooning amid the company’s stock buybacks.The Walton Family Holdings Trust sold $430 million worth over the past week, taking their total sales to almost $2.1 billion since Jan. 1, according to Securities and Exchange Commission filings. The notifications were filed on behalf of second-generation family members Alice, Rob and
Goldman Sachs analyst Michael Lapides says energy- infrastructure stocks can gain as oil prices stay strong and companies are able to transport more fuel.
Lordstown Motors Corp. shares slid 14% premarket, after the electric pick-up truck company announced a series of sweeping changes in its leadership team on Monday, as it seeks to transition from the research and development phase to the commercial production stage of its business. Chief Executive Steve Burns and Chief Financial Officer Julio Rodriguez have resigned from the company with immediate effect. The company has engaged an executive search firm to help find permanent CEO and CFO. In the
Pent-up demand, pandemic savings, back-to-office mandates -- experts say it will all add up to a historic wave of people leaving their jobs.
Nvidia has been ripping higher over the past month, easily running to new all-time highs. How far can it go from here?
The president's speech follows El Salvador's adoption of bitcoin as legal tender.
(Reuters) -Lordstown Motors Corp on Monday announced the sudden departure of its chief executive and finance head, just days after the electric truck maker warned that it may not have enough money to stay in business over the next year, sending shares down more than 20%. The resignations of founder and Chief Executive Steve Burns and Chief Financial Officer Julio Rodriguez come as the company's board reported conclusions from an internal investigation into claims made by short-seller Hindenburg. Burns is Lordstown's largest shareholder with a stake of more than 26%, according to Refinitiv data.
(Bloomberg) -- The size and type of defaults that have occurred in China in recent times indicate that the notion of “too big to fail” may no longer apply to the nation’s borrowers, according to Goldman Sachs Group Inc.There has been a noticeable up-tick in defaults by Chinese state-owned enterprises since late 2019 and some of the borrowers that have failed to repay debt recently such as China Fortune Land Development Co. have had large amounts of outstanding bonds, analysts including Kenneth H
This column summarizes the federal income tax treatment of vacation homes that might be rented out some to third parties during the year, but are still classified as personal residences under the tax rules. If you vacation property falls into that category, here’s what you need to know about the tax implications. If you own a vacation property that you don’t rent out at all during the year, it’s treated as a personal residence for federal income tax purposes.
Banking giant JPMorgan is sitting on a near half-billion-dollar stockpile of cash, waiting to invest in higher rates in the coming months, instead of buying Treasurys or other securities, Chief Executive Jamie Dimon said Monday at a virtual banking conference.