Erik McGregor | LightRocket | Getty Images As Democrats plow forward with a slimmed-down reconciliation package, House lawmakers are separately pushing another piece of President Joe Biden‘s agenda: taxing the ultra-wealthy. Reps. Don Beyer, D-Va., and Steve Cohen, D-Tenn., have introduced the Billionaire Minimum Income Tax Act, calling for a 20% levy on households worth
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FatCamera | E+ | Getty Images As individuals and families grapple with surging prices, there’s one category that has a history of rising faster than inflation: prescription drugs. Now, the new Senate reconciliation bill put forward by Senate Majority Leader Chuck Schumer, D-N.Y., and Sen. Joe Manchin, D-W.Va., aims to help give Americans relief from
With the Indiana General Assembly gaveled in this week for a special session called by Gov. Eric Holcomb (R), one of the issues is how to allocate portions of the $6.1 billion budget surplus for the fiscal year that ended June 30. The House, Senate, and governor agree that some of the extra revenue should
Just one day after the Federal Reserve raised its benchmark rate, mortgage rates took a sharp turn lower. The average rate on the popular 30-year fixed mortgage fell to 5.22% on Thursday from 5.54% on Wednesday, when the Fed announced its latest rate hike, according to Mortgage News Daily. The rate fell even further Friday
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BEDMINSTER, N.J. – LIV Golf is just three tournaments in, but the Saudi-backed upstart league is already thinking big about its future. In an interview with CNBC, LIV Golf Investments President and COO Atul Khosla said the future of LIV Golf is teams and creating franchises that can one day be sold. The organization is
In this article XOM Exxon and Chevron posted record profits during the second quarter of 2022 as high commodity prices boosted operations, and as the oil giants kept spending in check. Chevron reported earnings of $11.62 billion during the three-month period, up from $3.08 billion during the second quarter of 2021. Exxon, meantime, posted second-quarter
Take a look at some of the biggest movers in the premarket: Amazon.com (AMZN) – Amazon shares rallied 12.5% in premarket trading after it posted better-than-expected quarterly revenue and issued an upbeat outlook. Amazon logged an overall quarterly loss, owing largely to a $3.9 billion negative impact from its investment in electric vehicle maker Rivian
The chaos engulfing many major airports in North America and Europe since summer began hasn’t abated much, and news outlets and social media users continue to report on hordes of impatient travelers and mountains of misplaced suitcases. Source: Getty Images Canceled flights. Long lines. Staff walkouts. Missing luggage. Sound familiar? The chaos engulfing many major
Mayte Torres | Moment | Getty Images The Covid-19 pandemic helped shed light on the need for increased access to paid leave for U.S. workers. Yet more than two years into the pandemic, there are still gaps in access to those benefits. That leaves many workers vulnerable to financial hardships, a new report from the
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In this article MCD BYND Advertising for the McPlant burger, a plant based vegetarian alternative to more traditional meat burgers by fast food giant McDonalds on 11th July 2022 in London, United Kingdom. Mike Kemp | In Pictures | Getty Images Shares of Beyond Meat fell 6% in morning trading after J.P. Morgan said McDonald’s
A branch of Barclays Bank is seen, in London, Britain, February 23, 2022. Peter Nicholls | Reuters Barclays on Thursday saw a slump in second-quarter profit after taking a substantial provision relating to a costly trading error in the U.S. The British bank reported a £1.071 billion ($1.30 billion) net profit attributable to shareholders, meeting
U.S. President Joe Biden and Chinese President Xi Jinping held a phone call Thursday. Pictured here is their virtual meeting on Nov. 15, 2021. Mandel Ngan | Afp | Getty Images BEIJING — U.S. President Joe Biden and Chinese President Xi Jinping ended a call Thursday with plans to arrange a face-to-face meeting for the
After more than two years, New Zealand is fully reopening its borders and welcoming back all international travelers. The country is reopening on July 31, some three months earlier than previously announced. Earlier this year, New Zealand’s borders were opened to Australians and citizens of 60 places that do not need visas to enter, including
Getty Images Finding extra cash to set aside can be tough amid the record high prices prompted by historically high inflation. But the Federal Reserve’s announcement on Wednesday that it will again hike interest rates by 0.75 percentage point will mean savers can get better a better return on the money they sock away. The
Contractors work on the roof of a house under construction in the Stillpointe subdivision in Sumter, South Carolina, on Tuesday, July 6, 2021. Micah Green | Bloomberg | Getty Images After two years of not being able to build homes fast enough to keep up with demand, the nation’s homebuilders are now experiencing a slowdown
Imagine a worker who gets a raise and ends up paying in tax more than 50 percent of that raise. This is the case for a Canadian worker who earns CAD 48,124. With an increase in pay of CAD 822, he would face a 59 percent marginal tax rate. This Canadian worker will end up
In this article SAVE JBLU JetBlue Airlines and Spirit Airlines are seen on the departure board in the Fort Lauderdale-Hollywood International Airport on May 16, 2022 in Fort Lauderdale, Florida. Joe Raedle | Getty Images JetBlue Airways finally won over Spirit Airlines with a $3.8 billion takeover deal. Now it needs to win over antitrust
In this article CMCSA CMCSA Comcast reported second-quarter revenue and earnings that topped analyst estimates, but the cable provider didn’t add broadband customers in a quarter for the first time ever. Comcast’s high-speed internet customers in the quarter were flat, trailing the 84,000 average analyst estimate, according to FactSet. The company’s shares fell more than 9%