The Supreme Court recently made a decision in the case of Moore v. United States regarding a federal tax on certain foreign investments. The case involved a Washington state couple who faced taxes due to a “mandatory repatriation tax” on earnings and profits in foreign entities. Despite this tax, the Supreme Court upheld the decision,
The real estate market is currently facing challenges as sales of previously owned homes are at a 30-year low. In May, existing home sales remained essentially flat, decreasing by 0.7% from April. This stagnation in sales is concerning, especially as prices continue to reach new record highs and mortgage rates remain elevated. The National Association
China’s significant investment of $230.8 billion over more than a decade to develop its electric car industry has raised eyebrows, according to analysis by the U.S.-based Center for Strategic and International Studies. Scott Kennedy, trustee chair in Chinese Business and Economics at CSIS, pointed out that the scale of government support represents nearly 19% of
Casual-dining chains are experiencing a shift in consumer preferences, with more customers moving away from traditional fast-food options. Darden Restaurants CEO Rick Cardenas noted that while Darden itself has not seen a direct benefit from this change, competitors like Brinker International and Dine Brands have been successful in luring in customers who are frustrated with
Darden Restaurants recently reported their quarterly results, and unfortunately Olive Garden’s same-store sales have fallen for the second consecutive quarter. This is a concerning trend for the Italian-inspired chain, as they were expected to report flat same-store sales growth this quarter. However, Olive Garden saw a 1.5% decrease in same-store sales, which was greater than
New York has taken a pioneering step in combating climate change by introducing a program that provides homeowners with up to $14,000 in rebates for energy-efficiency upgrades. This initiative is in alignment with the federal Inflation Reduction Act, signed into law by President Joe Biden in 2022, marking it as the most significant climate legislation
As Generation X, born between 1965 and 1980, begins to approach retirement age, they are facing unique challenges when it comes to saving for the future. With the financial burden of caring for both elderly parents and adult children, many Gen Xers are feeling the pressure of not having enough money to enjoy their retirement
The recent decrease in mortgage rates did not seem to have a significant impact on consumers’ behavior. Even though the average contract interest rate for 30-year fixed-rate mortgages dropped to 6.94% from 7.02%, the Mortgage Bankers Association’s seasonally adjusted index only showed a 0.9% increase in total mortgage application volume compared to the previous week.
The recent decision by the U.S. Federal Reserve to maintain high interest rates has had a significant impact on China’s monetary policy. Fitch Ratings, a leading ratings agency, has adjusted its expectations regarding China’s policy rate cuts. Initially predicting a rate cut for this year, Fitch now anticipates that China will maintain its one-year medium-term
The landscape of the box office has been evolving, with a noticeable absence of family films in recent years. However, the tide seems to be turning with a resurgence of kid-friendly hits that are breathing new life into movie theaters. While some family features found success on streaming platforms during the pandemic, the return of