Johnson & Johnson products on a shelf in a store in New York. Lucas Jackson | Reuters It was a busy week for Wall Street. Heavyweights like Apple, Microsoft, Facebook, Boeing and Tesla, among others, stepped up to report their earnings for the most recent quarter. However, some analysts and strategists were more focused on
Month: January 2021
Home ownership has long been considered a staple of the American dream. During the pandemic, it has also become a dividing line between the haves and have-nots. As the coronavirus outbreak and rise of remote work pushed Americans to move from the city to the suburbs, those who could afford a single-family home have been
John Ferro John Ferro was hired as a managing director in the business valuation group at UHY Advisors, New York. Constance Wright was hired as a principal and Jennifer Katrulya was promoted to partner in the business process outsourcing practice, and Joe Cashel was hired as a principal in the newly formed bankruptcy and restructuring
People walk past a GameStop store in Midtown Manhattan on January 27, 2021 in New York City. Michael M. Santiago | Getty Images The astronomical rally in GameStop has imposed huge losses of nearly $20 billion for short sellers this year, but they are not budging. Short-selling hedge funds have suffered a mark-to-market loss of
Stimulus checks printed at the Philadelphia Financial Center in Philadelphia. Jeff Fusco | Getty Images Many Americans are waiting for their second stimulus check and others want to know when they could possibly get a third payment. The $1.9 trillion Covid relief plan pushed by President Joe Biden includes a third round of $1,400 stimulus
Senators and House members introduced legislation to help taxpayers survive the pandemic, with tax credits for developers revitalizing homes in “distressed” neighborhoods and enabling small businesses to pay essential expenses. Sen. Rob Portman, R-Ohio, and Ben Cardin, D-Maryland, who are both members of the Senate Finance Committee, introduced a bipartisan bill Thursday, the Neighborhood Homes
An employee works inside an Office Depot Inc. Susana Gonzalez | Bloomberg | Getty Images Company: ODP Corp. (ODP) ODP Corp. is a provider of business services, products and digital workplace technology solutions to small and medium businesses. The company has a fully integrated business-to-business distribution platform of approximately 1,300 stores and online presence. The
The headquarters of the Consumer Financial Protection Bureau in Washington, D.C. JHVEPhoto | iStock Editorial | Getty Images The Consumer Financial Protection Bureau is expected to become a more aggressive consumer watchdog under the Biden administration and while the coronavirus pandemic hurls financial challenges at millions of Americans. Consumer advocates say the bureau was almost
As a fresh round of federal relief loans is getting distributed to U.S. small firms hit by a pandemic crisis that will soon stretch to a year, new research shows that last year’s tranches of the Paycheck Protection Program covered less than a month of business expenses. PPP loans provided in the March 2020 CARES
Imagine a mark-to-market capital gains tax, like the one proposed in New York, generating liability in a GameStop-style situation where retail investors have shares that have soared in value by orders of magnitude, get taxed on those gains, and then hold on too long and sell as the stock crashes back to earth. Whether you
The Robinhood website home screen on a smartphone. Gabby Jones | Bloomberg | Getty Images Restrictions on Robinhood traders are still tight and getting tighter throughout the day on Friday, now only allowing GameStop holders to buy a single additional share. The stock trading app has also expanded its list of restricted stocks from 13
Aimee Dilger | SOPA Images | LightRocket | Getty Images Maybe you’ve heard by now that an army of retail investors has managed to use one of hedge funds’ common investment strategies against them. That is, short-selling. It generally involves selling borrowed shares of a stock with the belief that the price will drop, at
The Internal Revenue Service is clarifying its guidance on provisions of the coronavirus relief legislation providing tax credits to employers offering paid sick leave and family leave to workers. The IRS updated Friday the frequently asked questions page about the tax credits. The tax credits were part of the Families First Coronavirus Response Act (FFCRA)
Nearly 90,000 Wisconsin small businesses that have taken out loans under the federal Paycheck Protection Program (PPP) will face hundreds of millions of dollars in state income tax liability on those loans this spring, despite the loans being tax-free at the federal level. Unless the legislature acts, businesses that have received PPP loans and related
What happens if you create a tax and its base is, for all intents and purposes, four people? If some Washington lawmakers had their way, we might find out. House Bill 1406 would impose a wealth tax exclusively on billionaires, accomplished by exempting the first $1 billion in household wealth. While most European countries have
A stack of Starlink internet satellites just before a launch. SpaceX SpaceX is preparing to begin production of the next-generation of its Starlink internet satellites, according to a company job posting, with the company having deployed more than 1,000 first-generation satellites in orbit to date. A posting on the company’s careers page, open at the time
Not wanting to touch anything is having a dramatic impact on consumer habits. Amid the coronavirus crisis, Americans are abandoning cash almost entirely in favor of “tap and go” transactions and have finally embraced contactless and digital payment methods after years of reluctance. Fewer and fewer adults use printed or minted U.S. currency at all any more.
Small businesses in Nebraska, Oklahoma and other rural states have been the most successful at getting federal pandemic relief in the $284 billion round of aid that opened this month, buoyed by a new rule that authorizes loans to many farms that didn’t qualify before. Measured by their share of the nation’s small-business payroll, four
Robinhood CEO Vlad Tenev said Robinhood’s move to stop trading in certain speculative names was in the best interest of the company and its millions of users. “In order to protect the firm and protect our customers we had to limit buying in these stocks,” Tenev told CNBC’s Andrew Ross Sorkin Thursday evening. “Robinhood is
Digital Vision | Photodisc | Getty Images If you tied the knot last year, it may be worthwhile checking what your new status will mean for your 2020 taxes. While many couples see their tax bill drop post-nuptials, some face a “marriage penalty” — that is, paying more in taxes than if they had remained
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