The recent auction sales during Monterey Car Week have raised some eyebrows as they fell 3% from last year. This drop can be attributed to a shift from older to newer cars, which has resulted in a pileup of unsold classics from the 1950s and 1960s. Total sales at this year’s five car auctioneers in
The landscape of the U.S. labor market has seen significant changes in recent years, with remote work emerging as a prominent trend. Initially spurred by the Covid-19 pandemic, remote work has become a common practice for many employees across various industries. According to economists, this shift represents one of the most significant changes in the
Retirees often have multiple sources of income, and it is crucial for them to properly manage their taxes to avoid IRS penalties. In 2024, the quarterly estimated tax deadlines are April 15, June 17, Sept. 16, and Jan. 15, 2025. Failing to meet these deadlines can result in penalties, creating a financial burden for retirees.
The July home sales report indicated a 1.3% increase in closed sales of previously owned homes compared to June. This marks the first gain in five months, showing a slight improvement in the market. However, sales were still 2.5% lower when compared to the same time last year. Lawrence Yun, NAR’s chief economist, noted that
Philadelphia Federal Reserve President Patrick Harker recently expressed his support for an interest rate cut in September. Speaking at the Fed’s annual retreat in Jackson Hole, Wyoming, Harker emphasized the need for monetary policy easing to address potential weaknesses in the economy. He believes that a gradual and well-signaled approach to lowering rates is necessary.
Danish biotech company Bavarian Nordic experienced a significant 13% surge in its stock price following the announcement of better-than-expected earnings and a substantial vaccine order from an undisclosed European country. The second quarter revenues of 1.43 billion Danish krone ($213 million) and operating profit of 420 million krone surpassed analyst predictions, as reported by Reuters.
The future of Paramount Global hangs in the balance as the special committee announced an extension of the “go shop” period for its merger agreement with Skydance. This move comes in response to a competing offer from Edgar Bronfman Jr. Initially offering $4.3 billion, Bronfman raised more funds and submitted a revised offer of $6
Managing required minimum distributions (RMDs) in retirement can be a complex task for many individuals who have diligently saved in pretax retirement accounts. The mandatory withdrawals come with potential tax implications and can disrupt an individual’s long-term financial plans. However, RMDs also provide an opportunity to rebalance and optimize your investment portfolio. By strategically planning
The surge in online sports betting has led to significant financial consequences, especially for those already facing financial distress. A recent study titled “Gambling Away Stability: Sports Betting’s Impact on Vulnerable Households” uncovered alarming findings regarding the prevalence of sports betting since the 2018 Supreme Court decision to legalize it. Currently, 38 states have embraced
Ford Motor Company recently announced that they will be delaying production of a next-generation all-electric pickup truck at a new plant in Tennessee. In addition to this delay, they have also canceled plans for a three-row electric SUV. Instead, Ford will be prioritizing the development of hybrid models and electric commercial vehicles. The company plans