In this article 2330-TW Signage for Taiwan Semiconductor Manufacturing Co. (TSMC) is displayed at the company’s headquarters in Hsinchu, Taiwan, on Wednesday, June 5, 2019. Ashley Pon | Bloomberg via Getty Images TSMC, the world’s biggest chipmaker, posted record net profit in the second quarter, helping assuage fears over weak demand from high inflation and
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Two new ETFs out this summer are working the overnight shift. The NightShares 500 [NSPY] and NightShares 2000 ETFs [NIWM] are doing something no ETF has done before: Take advantage of the so-called “night effect.” According to NightShares CEO Bruce Lavine, stocks bought at the market close and sold when markets open again in the
A person shops for groceries on March 10, 2022 in the Prospect Lefferts Garden neighborhood of Brooklyn. Michael M. Santiago | Getty Images News | Getty Images Inflation hit a new 40-year high in June, and policymakers are working feverishly to tame it — perhaps even risking recession to do so. Jerome Powell, chair
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Over the past decade, policymakers from both parties in Harrisburg have proposed reducing Pennsylvania’s 9.99 percent corporate net income tax (CNIT) rate but could not agree on an approach—until now. With enactment of HB 1342 as part of the 2022-2023 state budget, lawmakers finally succeeded in cutting what had been the second highest state corporate
Daniel Acker | Bloomberg | Getty Images More home sellers are dropping their asking prices as rising mortgage interest rates and inflation have slowed down competition in the housing market. Some cities are seeing more price cuts than others. Boise, Idaho, took the lead in June, with 61.5% of sellers cutting their asking prices, according
In this article MS James Gorman, chairman and chief executive officer of Morgan Stanley, speaks during a Bloomberg Television interview in Beijing, China, on Thursday, May 30, 2019. Giulia Marchi | Bloomberg | Getty Images Morgan Stanley is set to report second-quarter earnings before the opening bell on Thursday. Here’s what Wall Street expects: Earnings:
In this article COST .BBKA CTRA FRC JPM Pedestrians pass in front of a JPMorgan & Chase bank branch automated teller machine (ATM) kiosk in downtown Chicago, Illinois. Christopher Dilts | Bloomberg | Getty Images Check out the companies making headlines in midday trading. JPMorgan Chase – Shares of JPMorgan Chase sunk nearly 4% and
Getty Images As the cost of living soars, one federal lawmaker wants to remove any barriers to buying Series I bonds, an inflation-protected and nearly risk-free asset that currently pays 9.62% annual interest through October. Rep. Abigail Spanberger, D-Va., on Thursday sent a letter to Treasury Secretary Janet Yellen, voicing concerns about the difficulties of buying
In this article WTW Superb Images | The Image Bank | Getty Images In another sign of a tight labor market, U.S. companies plan to give workers their largest pay increase in 15 years in 2023, with an average bump of 4.1%. That’s the finding from a new survey by Willis Towers Watson, a compensation
A pending tax ballot measure in Idaho may take the prize for gaffe-riddled drafting. Proponents had a straightforward goal: to create a new top marginal individual income tax rate of 10.925 percent on high earners. That is dubious enough, as it would create the highest rate between New York and California. But through a series of
In this article MSFT NFLX The Netflix logo is seen on a TV remote controller, in this illustration taken January 20, 2022. Dado Ruvic | Reuters Netflix has named Microsoft as its partner for its ad-supported service, the companies announced Wednesday. “Microsoft has the proven ability to support all our needs as we together build
The Lightyear app. Lightyear Lightyear, a European challenger to trading platform Robinhood, has raised $25 million of funding in an investment round backed by British billionaire Richard Branson. Silicon Valley’s Lightspeed Venture Partners led the deal, the company told CNBC exclusively — a rare vote of confidence for an upstart brokerage at a time when
Kevin Dietsch | Getty Images Social Security beneficiaries will be in line to receive a record high cost-of-living adjustment in 2023 due to inflation. The question is exactly how high it may be. Based on new consumer price index data for June released Wednesday, The Senior Citizens League, a nonpartisan senior group, now estimates the
A Chelsea Tower rental apartments billboard. Jeff Greenberg | Getty Images The average monthly rent for a Manhattan apartment surpassed $5,000 for the first time — and brokers say demand and prices are headed even higher into the fall. The average apartment rent in June was $5,058, the highest on record, according to a report
You’ve heard the term capital gains tax. But what is that exactly? Is that something you pay? If so, when? Whenever you sell something — a house, car, company stock, or even gold or silver coins — you typically either make or lose money on the investment. That’s also referred to as a gain or
A customer shops for shirts at an American Eagle Outfitters store in San Francisco. David Paul Morris | Bloomberg | Getty Images Excess inventory has racked up in many retailers’ warehouses and stores. But shoppers are still paying more as they refresh the closet. Apparel prices rose 0.8% in June compared to May, and 5.2%
Celsius on Thursday was sued by former investment manager Jason Stone, as pressure continues to mount on the firm amid a crash in cryptocurrency prices. Stone has alleged, among other things, that Celsius CEO Alex Mashinsky (above) was “able to enrich himself considerably.” Piaras Ó Mídheach | Sportsfile for Web Summit | Getty Images Crypto
About 70% of Americans consider themselves middle class, according to a 2017 study by Northwestern Mutual. But according to most economists’ definitions, that’s not possible. One of the ways the Brookings Institution defines “middle class” is those in the 20th to 80th percentiles of household income. This would make 60% of American households middle class. The
A customer reaches down to pick up a bottle of water from a street vendor in Paris on June 17, 2022. Stefano Rellandini | Afp | Getty Images The value of the euro relative to the U.S. dollar has sunk near a two-decade low — and that’s good news for Americans traveling to Europe this