The Biden administration’s proposal to require financial institutions to report inflows and outflows of more than $600 from bank accounts has attracted significant attention. The Treasury Department believes it could generate $463 billion in revenue over 10 years by giving the IRS more insight into certain types of income that members of the public often
China Evergrande Group started returning a small portion of the money owed to buyers of its investment products, weeks after people protested against missed payments at its Shenzhen headquarters, pictured here on Sept. 30, 2021. Gilles Sabrie | Bloomberg | Getty Images BEIJING — China Evergrande shares briefly dropped more than 10% in opening trade
In this article T Timothee Chalamet stars in Warner Bros.’ “Dune.” Warner Bros. “Dune” has long been considered unfilmable, but director Denis Villeneuve seems to have cracked the code on how to bring this sweeping narrative to the big screen. Previous versions of Frank Herbert’s 1965 science-fiction novel have struggled to capture the scope and
A classic home at 271 Central Park West — where stars like Bruce Willis once lived — is on the market for the first time in 30 years. Jane Pauley, Meryl Streep, Robin Williams and Mark Hamill also once lived in the building. The five-bedroom, three-bathroom co-op at 87th Street is asking $13.9 million —
IBM’s logo seen displayed on a smartphone. Rafael Henrique | SOPA Images | LightRocket | Getty Images Check out the companies making headlines after the bell: IBM — The tech company saw its stock dropping more than 5% in extended trading following a revenue miss in the third quarter. its top two business segments —
You might admire Bill Gates’ workhorse mentality or Elon Musk’s brazen attitude and ideas, but also feel conflicted about wealth inequality. Now, psychologists and marketing experts can explain that disconnect. The Ohio State University and Cornell University published new research on Monday showing why people tend to admire individual billionaires, but dislike the socioeconomic class
Fixed-income giant Pimco has dabbled in cryptocurrencies and plans to gradually invest more in digital assets that have the potential to disrupt the financial industry, according to chief investment officer Daniel Ivascyn. “Now we’re looking at potentially trading certain cryptocurrencies as part of our trend-following strategies or quant-oriented strategies, then doing more work on the
Bitcoin on display. Chesnot | Getty Images Investors who are bullish on cryptocurrencies are betting more on the digital assets than stocks. In September, crypto investors put an average of $263 into accounts dedicated to coins, more than the average $250 they put in traditional brokerages during the month, according to a recent survey from
Billionaire Peter Thiel, PayPal co-founder and chairman of Palantir Technologies, during a news conference in Tokyo, Japan, on Nov. 18, 2019. Kiyoshi Ota/Bloomberg via Getty Images Peter Thiel’s proposed luxury lodge on New Zealand’s South Island has been criticized by a local environmental group who believe it is “inappropriate” for the natural landscape. The PayPal
Jet fuel prices are rising to levels not seen since before the Covid pandemic and it’s set to drive up airfares, United Airlines CEO Scott Kirby said Wednesday. “Higher jet-fuel prices lead to higher ticket prices,” Kirby told CNBC’s “Squawk on the Street.” “Ultimately, we’ll pass that through.” United forecast average fuel costs of $2.39
Washington-based global law firm Venable LLP is moving to the Durst Organization’s One Five One, the tower formerly known as the Conde Nast Building. Venable signed a 15-year lease for 157,800 square feet on the 48th through 52nd floors of the building that also was previously known as Four Times Square. The firm also is
Paul Tudor Jones Michael Nagle | Bloomberg | Getty Images Billionaire hedge fund manager Paul Tudor Jones believes that inflation is here to stay, posing a major threat to the U.S. markets and economy. “I think to me the number one issue facing Main Street investors is inflation, and it’s pretty clear to me that inflation is
Shoppers at a New York supermarket on Aug. 11, 2021. Wang Ying | Xinhua News Agency | Getty Images One looming question for the U.S. economy is how long inflation is here to stay. Based on recent government data, there is good reason for asking. The Consumer Price Index, which measures the average change over
In this article COIN Coinbase signage in New York’s Times Square during the company’s initial public offering on the Nasdaq on April 14, 2021. Robert Nickelsberg | Getty Images Investing consistently in cryptocurrency just got a lot easier. In September, Coinbase announced that its users will soon be able to set up direct deposit with
A sign is posted in front of a home for sale on September 28, 2021 in San Anselmo, California. Justin Sullivan | Getty Images Climbing mortgage interest rates caused another drop in mortgage demand for both refinances and home purchases. Total application volume fell 6.3% last week compared with the previous week, according to the
Former Obama White House policy director Dr. Kavita Patel explained why the surging number of Covid cases in the United Kingdom could be a compelling argument for booster shots. “What’s happening is … this real world experiment where the efficacy of AstraZeneca is decreasing, and they haven’t rolled out their boosters,” Patel said during a
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