In this article SCHW MoMo Productions | Taxi | Getty Images When it comes to building wealth, many Black Americans are facing an uphill battle. The median annual wage for Black workers is about 30% lower than that of white workers, according to a McKinsey & Company report. The report also found that 3.5 million
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Vanessa Rivera (left), Azuri Moon (center), Candace Koole (right) all say their unemployment insurance was stolen from their accounts. Source: CNBC As millions of Americans received unemployment payments to get through the crisis, scammers developed a new way to steal cash directly from recipients’ accounts, according to an investigation by CNBC. When one single mother’s
RyanJLane | E+ | Getty Images The pandemic sparked charitable giving among wealthy families, and some who are eager to give more may score a bigger 2021 write-off by leveraging money from pretax retirement accounts. Here’s how it works: Certain retirees with excess pretax retirement savings — meaning they’ve saved more than they expect they’ll
Serena Williams of The United States celebrates a set point in her ladies singles first round match against Irina-Camelia Begu of Romania on day two of the 2021 French Open at Roland Garros on May 31, 2021 in Paris, France. Stephane Cardinale | Corbis Sport | Getty Images Serena Williams is investing an undisclosed amount
The IRS issued the first round of monthly payments for the Child Tax Credit last week on July 15. Families who are eligible for the credit based on their most recently filed tax return received the payments via direct deposit or paper check. Monthly payouts will continue throughout the rest of the year with families
As home prices surge, a real estate start-up launched in October by two former Zillow executives sees opportunity. Cincinnati-based Pacaso purchases luxury single-family vacation homes and then sells them to groups of buyers through a fractional ownership model as part of an LLC, co-founder and CEO Austin Allison told CNBC on Friday. “Most second homes
Attendees visit the Impossible Foods booth, January 8, 2020 at the 2020 Consumer Electronics Show (CES) in Las Vegas, Nevada. Robyn Beck | AFP | Getty Images Impossible Foods is planning to add another meat substitute to its roster: plant-based chicken nuggets. The company will unveil the new product to U.S. operators at a trade
A view of the Norwegian Encore cruise ship during its inaugural sailing from PortMiami, which took place from Nov. 21-24, 2019. Orlando Sentinel | Tribune News Service | Getty Images Check out the companies making headlines in midday trading. State Street — The financial firm’s shares rose 2.6% after beating on the top and bottom
If you want to be successful, you have to start by being honest with yourself about some of your biggest weaknesses. That’s according to billionaire Ray Dalio, who certainly has experienced his share of success as the founder of the world’s largest hedge fund, Bridgewater Associates. The hedge fund, which Dalio founded in his New
Treasury Secretary Janet Yellen speaks during the daily press briefing on May 7, 2021, in the Brady Briefing Room of the White House in Washington, DC. Saul Loeb | AFP | Getty Images U.S. Treasury Secretary Janet Yellen will meet with the President’s Working Group on Financial Markets next week to discuss the role stablecoins
An executive chef interviews a job seeker about hospitality employment during a job fair on June 23, 2021 in Torrance, California. PATRICK T. FALLON | AFP | Getty Images The rapidly spreading delta variant of Covid-19 may be reason for Congress to extend federal unemployment benefits past their expiration in early September, according to some
A restaurant worker at a May 26, 2021 “Wage Strike” demonstration organized by One Fair Wage in Washington, D.C. Anna Moneymaker | Getty Images News | Getty Images The coronavirus crisis has cast new attention on wages and income. It’s been 12 years since the last federal minimum wage increase, and whether a hike in
Fannie Mae and Freddie Mac are dropping a fee on mortgage refinances that was instituted during the pandemic, lowering costs for borrowers, the Federal Housing Finance Agency said Friday. Fannie and Freddie were charging lenders a 50 basis-point fee for all loans that were delivered to the two mortgage giants. The fee, designed to cover
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Here are the most important news, trends and analysis that investors need to start their trading day: Stock futures flat after first week of second-quarter earnings Yellen expects more ‘rapid inflation’ ahead before cooling kicks in Biden says U.S. will caution businesses about ‘deteriorating’ situation in Hong Kong Intel in talks to acquire GlobalFoundries for
In this article DIDI 22UA-DE MRNA Check out the companies making headlines before the bell: Moderna (MRNA) – The drug maker’s shares surged 7.3% in the premarket on news that the stock would be included in the S&P 500 as of July 21st. It will replace Alexion Pharmaceuticals, which is being acquired by AstraZeneca (AZN).
Delmaine Donson | E+ | Getty Images Like many Americans, you may dread the thought of returning to the office. Yet only 12% of companies are adopting a “remote-first” model in the second half of 2021, a recent CNBC survey of 50 members of the CNBC Global CFO Council, Technology Executive Council (TEC) and Workforce
The Biden administration has proposed to significantly increase the tax burden on foreign income through a policy known as Global Intangible Low-Tax Income (GILTI). While the administration’s rhetoric focuses on doubling the tax rate on GILTI from 10.5 percent to 21 percent, this is less than half the story. The rate on GILTI is going
Shoppers load up their vehicle outside a HomeGoods store in South Bend, Indiana, on Monday, Nov. 16, 2020. Daniel Acker | Bloomberg | Getty Images An engine as massive as the U.S. economy is not going to restart without some sputtering, which is what many economists believe explains the double-digit price increases in many goods