DIRS.INFO The most relevant business & tech news

☆ What Harris’ unrealized capital gains tax proposal means for you
▼ + stars: | 2024-10-06 | by ( Katie Lobosco | ) edition.cnn.com time to read: +8 min

A billionaire minimum tax is one of several proposals pushed by Democrats in recent years to tax the rich. Harris has specifically called for raising the top tax rate on millionaires with long-term realized capital gains from 20% to 28%. Harris’ proposal to increase the tax rate on realized capital gains to 28% would apply to taxpayers with income over $1 million. How a tax on unrealized capital gains would workLet’s discuss how a billionaire minimum tax – which is, on a basic level, a tax on unrealized capital gains – would impact a homeowner. If passed, a billionaire minimum tax – an unprecedented tax on income not yet received – would likely face many legal challenges.

Persons: Kamala Harris that’s, “, ”, Mark Friedlich, Harris, hasn’t, Biden, Joe Biden, Erica York, it’s, ” Friedlich, Ron Wyden, Joe Manchin, Kyrsten, inheritances Harris hasn’t, Biden’s Organizations: Washington CNN, IRS, Wolters Kluwer, Accounting, Biden, Tax, Oregon Democrat, Senate Locations: Altrata, Oregon, Sens, West Virginia, Arizona

☆ A veteran chartmaster shares 7 investments to make ahead of a rare buying opportunity as US stocks stagnate
▼ + stars: | 2024-09-22 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

Read previewUS equities are trading near record highs after the Federal Reserve cut interest rates last week, but a long-time chartmaster doesn't believe the euphoria is warranted. Add in an unclear path forward for interest rates and geopolitical risks, and Keller said stocks will struggle to break past today's levels. Homebuilders such as DR Horton (DHI) can be a prime beneficiary of lower interest rates, Keller pointed out. "And when you think about what that means, that usually means: really good setup for homebuilders. Utilities also stand out, not only due to their defensive qualities, but because their yields look more attractive as falling interest rates weigh on bond yields.

Persons: —, doesn't, David Keller, Keller, Whoever's, Donald Trump, Kamala Harris, Harris, Jeff Muhlenkamp Organizations: Service, Federal Reserve, Fed, Business, Sierra Alpha Research, Republican, Enphase, Trump, Utilities Locations: StockCharts.com

☆ How immigrants are helping to keep job growth hot while inflation cools
▼ + stars: | 2024-06-17 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +6 min

Kevin Lamarque | ReutersImmigration — both authorized and unauthorized — has helped the U.S. job market sustain a fiery run in recent months without reigniting inflation, economists and analysts say. This dynamic — a heating job market and cooling inflation — is in part the result of increased inflows of immigrants. Typically, a hot labor market walks a tightrope that could easily collapse into reheated inflation. But the Brookings researchers recalculated the government's estimates — this time, factoring the impact of immigrants on the labor pool. They found that with immigration, the 2024 U.S. job market could safely absorb between 160,000 and 200,000 monthly job gains.

Persons: Joe Biden, Kevin Lamarque, Reuters Immigration —, —, Dow Jones, Goldman Sachs, Michael M, Mark Zandi, Jerome Powell, Zandi, Mandel Ngan, Biden, Donald Trump, Brendan McDermid Organizations: U.S . Border Patrol, Reuters Immigration, of Labor Statistics, FedEx, Broadway, Santiago, Getty, CNBC, Brookings Institution, Brookings, U.S, International Brotherhood of Electrical Workers, Afp, White, Republican Locations: U.S, Mexico, Brownsville , Texas, New York City, United, Lanham , Maryland, United States, Las Vegas , Nevada

☆ Elon Musk says there could be a 20% chance AI destroys humanity — but we should do it anyway
▼ + stars: | 2024-03-31 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +5 min

He estimates there's a 10-20% chance AI could destroy humanity but that we should build it anyway. An AI safety expert told BI that Musk is underestimating the risk of potential catastrophe. AdvertisementElon Musk is pretty sure AI is worth the risk, even if there's a 1-in-5 chance the technology turns against humans. "One of the things I think that's incredibly important for AI safety is to have a maximum sort of truth-seeking and curious AI." Musk said his "ultimate conclusion" regarding the best way to achieve AI safety is to grow the AI in a manner that forces it to be truthful.

Persons: Elon Musk, —, Elon, recalculated, Geoff Hinton, Yamploskiy, Musk, Sam Altman, Hinton Organizations: Service, Cyber Security, University of Louisville, New York Times, Summit, Independent, CNN, Business

☆ Opinion: Fani Willis and Nathan Wade need to step aside for the sake of the country
▼ + stars: | 2024-02-15 | by ( Opinion William Cooper | ) edition.cnn.com time to read: +7 min

“The optics are horrific,” Fulton County Judge Robert McBurney said about the fundraiser before disqualifying Willis and her staff from pursuing charges against Jones in July 2022. More recently, Willis admitted to having a “personal relationship” with Nathan Wade, a special prosecutor she hired to help with Trump’s prosecution. Wade hasn’t just billed Fulton County over $650,000 under Willis’ supervision; he’s done so in irregular fashion. Combined with his personal relationship with Willis, they raise significant questions, including whether any of his outsized earnings have benefited Willis. If Willis and Wade step aside, other competent lawyers can make the case that Trump violated the law.

Persons: William Cooper, Substack, Donald Trump, Fani Willis, Sen, Burt Jones, Willis, Robert McBurney, disqualifying Willis, Jones, Nathan Wade, Michael Roman’s, Wade, Attorney Willis, Trump’s, Brad Raffensperger, “, ” Trump, Raffensperger, team’s misjudgments, Wade’s, Wade hasn’t, Willis ’, ”, Scott McAfee, Trump, it’s Organizations: CNN, District, Republican, Trump, Attorney, Fulton County prosecutorial Locations: California, Fulton County , Georgia, Republican Georgia, Fulton County, United States, Georgia, Fulton

☆ The inventor of the market's most famous recession indicator says 3 factors will ensure a coming downturn isn't too painful
▼ + stars: | 2024-02-07 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

The inverted yield curve means that a recession is still likely, the indicator's inventor wrote this week. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementThe inverted yield curve has been flashing red for 15 months, but don't think that ongoing economic strength makes it a false signal, Campbell Harvey wrote in a Research Affiliates note. "The yield curve indicator suggests growth will substantially slow in 2024. On the business side, past experience with the inverted yield curve has led entities to take preventive action when Treasury rates flip.

Persons: —, Campbell Harvey, Harvey Organizations: Service, Duke University, Federal Reserve, Fed

☆ 4 Social Security benefit changes may help people who can't work until full retirement age, report finds
▼ + stars: | 2023-11-03 | by ( Lorie Konish | ) www.cnbc.com time to read: +5 min

That includes four Social Security benefit changes that may help this vulnerable population as they age, according to the task force. Create a bridge benefitA bridge Social Security benefit could help workers who cannot work until their full retirement age, but who are unable to claim Social Security disability benefits. The bridge benefit would start from age 62, when claimants are first eligible for retirement benefits, and last until age 67, or full retirement age. Claimants would receive half the difference between what they would receive at full retirement age versus age 62. Change the earnings testPeople who claim Social Security retirement benefits before their full retirement age and who continue to work may be subject to an earnings test.

Persons: Turner, Joel Eskovitz, Vallas, John Larson, Conn Organizations: Getty Images Workers, Social, Social Security, AARP, Institute, National Academy of Social

☆ Scientists identify molten layer deep within interior of Mars
▼ + stars: | 2023-10-25 | by ( Will Dunham | ) www.reuters.com time to read: +4 min

"The importance of the far side impact was to produce seismic waves that traversed the deep interior of the planet, including the core. Previously, we had not observed any seismic waves that had transited the core. Unlike Mars, Earth has no molten layer around its core. One of the two studies published on Wednesday indicates this layer is fully molten, with the other indicating that most of it is fully molten, with the top portion partially molten. "We have learned a lot about Mars by studying the unique seismic record provided by the InSight mission," Samuel said.

Persons: Amir Khan, Henri Samuel, Khan, Samuel, Will Dunham, Daniel Wallis Organizations: NASA, JPL, Caltech, Handout, REUTERS, Rights, Tempe Terra, ETH, CNRS, Institut, Physique, Globe, Thomson Locations: Mars, Tempe, ETH Zürich, Switzerland, Paris

☆ Elon Musk moving servers himself shows his 'maniacal sense of urgency' at X, formerly Twitter
▼ + stars: | 2023-09-11 | by ( Walter Isaacson | ) www.cnbc.com time to read: +14 min

Musk wanted to save that money by moving the servers to one of X's other facilities, in Portland, Oregon. James Musk asked. "The dude is not very good at math," Musk told the musketeers. The lack of servers caused meltdowns, including when Musk hosted a Twitter Spaces for presidential candidate Ron DeSantis. And the Sacramento caper showed X employees that he was serious when he spoke about the need for a maniacal sense of urgency.

Persons: Walter Isaacson's, Elon Musk, Musk, you've, Tesla, Steve Davis, Omead Afshar, James Musk, James, Andrew, Austin, Elon, Alex, Alex the, jimmy, —, Ross Nordeen, enlistees, I've, Ross, pushback, Ron DeSantis, X, Walter Isaacson, Jennifer Doudna, Leonardo da Vinci, Steve Jobs, Albert Einstein, Benjamin Franklin, Henry Kissinger Organizations: Twitter, SpaceX, Cape Canaveral, Avid, Toyota Corolla, Apple, Home, NTT, Walmart, Extra Care, PayPal, Depot, CNBC, Tulane University, CNN Locations: Musk's, Sacramento, Portland , Oregon, Portland, Fremont, Texas, Cape, San Francisco, Tahoe, Elon, Austin, Las Vegas, Uzbekistan, Square, Yelp

☆ Trump was indicted in Georgia over his efforts to overturn the 2020 election. Here's what the 13 counts in his 4th criminal case mean.
▼ + stars: | 2023-08-15 | by ( Sonam Sheth | Rebecca Cohen | ) www.businessinsider.com time to read: +8 min

Trump was indicted in Georgia over his efforts to overturn the 2020 election results in the state. Making false statements and writingsGeorgia law says that it's illegal for an individual to knowingly and willfully make a false, fictitious, or fraudulent statement or representation to officials. ConspiracyTrump was charged with conspiracy to commit impersonating a public officer, conspiracy to commit forgery in the first degree, conspiracy to commit false statements and writings, and conspiracy to commit filing false documents. Asking Raffensperger, to "find" thousands of votes in order to nullify Biden's 2020 election victory. Asking Raffensperger in September 2021 to decertify the 2020 election, "or whatever the correct legal remedy is, and announce the true winner."

Persons: Trump, Donald Trump, Rudy Giuliani, Mark Meadows, Jeffrey Clark, Sidney Powell, John Eastman, Fani Willis, Joe Biden, Willis, it's, Rahmani, Brad Raffensperger, Georgia's, Brian Kemp, David Ralston, Raffensperger, Injunctive Organizations: Service, New York, White House, Trump —, Federal, Organization, Prosecutors, Trump, United States Senate, State, United States, Court, Northern, Northern District of, Electoral, Georgia Gov, Georgia's, Representatives, GOP, Farm Locations: Georgia, Fulton County, Wall, Silicon, State of Georgia, United States, Northern District, Northern District of Georgia, Fulton County , Georgia

☆ How the rich have their cake and eat it too by using trusts to give to charity, collect cash, and save on taxes at the same time
▼ + stars: | 2023-02-18 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +6 min

Charitable remainder trusts give annual payments, and whatever is left at the end goes to charity. Grantors get a bigger upfront deduction because a higher rate assumes the trust assets will grow faster and more will be left to charity when the term ends. With a charitable remainder annuity trust (CRAT), the annual income is determined at the outset when the trust is funded. The second type, charitable remainder unitrusts (CRUT), are more popular in Sheehan's experience but also more complicated. If you select a payout percentage that is too high, the trust remainder might not be enough to pass muster with the IRS.

☆ U.S. consumer prices revised higher in December, November
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, Feb 10 (Reuters) - U.S. monthly consumer prices rose in December instead of falling as previously estimated and data for the prior two months was also revised up, which some economists said raised the risk of higher inflation readings in the months ahead. The consumer price index edged up 0.1% in December rather than dipping 0.1% as reported last month, the Labor Department's annual revisions of CPI data showed on Friday. Data for November was also revised higher to show the CPI increasing 0.2% instead of 0.1% as previously estimated. In October, the CPI rose 0.5%, revised up from the previously reported 0.4% increase. Excluding the volatile food and energy components, the CPI rose 0.4% in December, instead of 0.3% as previously reported.

☆ German EU-harmonised January consumer prices rise 9.2% y/y
▼ + stars: | 2023-02-09 | by ( Maria Martinez | ) www.reuters.com time to read: +2 min

Summary Harmonised German consumer prices in Jan rise 9.2% y/yDownward trend in inflation expected to continue - CommerzbankCore inflation forecast to remain high, economists sayBERLIN, Feb 9 (Reuters) - German consumer prices, harmonised to compare with other European Union countries, rose by a less-than-anticipated 9.2% on the year in January, preliminary data from the federal statistics office showed on Thursday. According to non-harmonised standards, German consumer prices rose 8.7% on year in January and 1.0% on the month. "Because core inflation will remain high in 2023, a fundamental easing of inflation is not in sight," said Alexander Krueger, chief economist at Hauck Aufhaeuser Lampe Privatbank. The final results for January and all results recalculated from January 2020 onwards using the new 2020 base year will be published by the statistics office on Feb. 22. The statistics office offers a breakdown for January's figures on its website.

CNN —Special counsel Jack Smith has subpoenaed Georgia Secretary of State Brad Raffensperger as part of the Justice Department’s investigation into efforts to overturn the 2020 election and the US Capitol attack on January 6, 2021. Mike Hassinger, public information officer with the Georgia secretary of state’s office, confirmed that Raffensperger’s office has received a subpoena from Smith. “At the request of the Justice Department, we have no further comment,” Hassinger said in an email to CNN. Smith has also issued a flurry of subpoenas, including to election officials in battleground states where Trump tried to overturn his loss in 2020. And there’s nothing wrong with saying that, you know, um, that you’ve recalculated,” Trump said in one part of the call.

☆ After student loan forgiveness, 73% of borrowers plan to spend more on travel and dining out
▼ + stars: | 2022-11-09 | by ( Kamaron Mcnair | ) www.cnbc.com time to read: +2 min

Any day now, federal student loan borrowers throughout the U.S. could see their balances reduced by up to $20,000 thanks to President Biden's student debt forgiveness plan. But some borrowers plan to spend the money more freely. In fact, 73% of anticipated recipients say they expect to spend their debt forgiveness on non-essential items, including travel, dining out and new tech, according to a recent survey from Intelligent.com. The same percentage of recipients — 73% — say using debt forgiveness funds on non-essentials isn't the right thing to do. The sames goes for many of those waiting for debt forgiveness.

☆ How to find out your new monthly student-loan payment after applying for Biden's debt cancellation
▼ + stars: | 2022-10-18 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +3 min

But he emphasized that borrowers with remaining balances still have to resume payments next year. Once borrowers apply, their student-loan company should notify them of their new monthly payments. But Biden also reminded borrowers that the student-loan payment pause is not going to last forever. "In relieving student debt, we're also resuming a student loan program that we paused during the pandemic," Biden said during his Monday remarks. If you have a remaining balance, your loan company will let you know what your new monthly payment will be once payments resume in January.

☆ The average student loan borrower will see their monthly bill drop by up to $300 a month when payments restart, says the Education Department
▼ + stars: | 2022-09-27 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +3 min

President Biden is forgiving up to $20,000 in student loans for federal borrowers making under $125,000. A Department of Education official said borrowers who see relief, monthly payments will shrink. That means, according to Powell, monthly payments will be recalculated based on a borrower's remaining balance. "We estimate the average borrower on a standard repayment plan will see their monthly payments drop by around $200 to $300 a month," Powell said. As part of the president's debt cancelation, student loan payments were paused for "one final time" through the end of 2022.

☆ US consumer spending rose in August as gas prices fell
▼ + stars: | 2022-09-15 | by ( Martha C. White | Cnn Business | ) edition.cnn.com time to read: +5 min

(CNN Business) Another month of falling gas prices gave Americans' wallets a bit of a reprieve in August. The continued decline in gas prices was reflected by a 4.2% dropfor the month on spending at gas stationsBacking out this volatile component, sales rose by 0.8% for the month. The retail report suggests that the tailwind of lower gas prices was a key factor helping Americans cope last month. "Gas prices are certainly a challenge for consumers. If we saw another spike in gas prices then we would expect to see weaker spending in a lot of these other retail sales categories."

☆ Over 22,570 persons had old-age pensions reexamined
▼ + stars: | 2020-11-13 | by ( ) www.ipn.md time to read: +1 min

Over 22,570 persons had old-age pensions reexaminedAs many as 22,571 persons benefited from the reexamination of the old-age pension in 2020, when two reassessment stages were conducted, covering pensioners who worked after retiring, IPN reports, quoting the Ministry of Health, Labor and Social Protection. Also, 19,429 persons benefitted from an average increase of 2,881 lei in pensions as of July 1, 2020. The average pension of those who had the pension reexamined is 5,559 lei. As of January 1, 2022, the recipients of pensions set after January 1, 1999, who worked for five to seven years after retiring, can also have their pensions recalculated. Of the 690,200 recipients of pensions, 168,600 continued work after reaching retirement.

Organizations: of Health, Labor, Social

Search resuls for: "recalculated"

19 mentions found