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☆ Ukraine is on track to make 'significantly' more 'mortar drones' than it planned, defense industry official says
▼ + stars: | 2024-07-12 | by ( Jake Epstein | ) www.businessinsider.com time to read: +4 min

Oleksandr Kamyshin, who serves as Ukraine's minister of strategic industries, shared in December that Kyiv planned to produce 1 million first-person-view, or FPV, drones by 2025. "This year we will produce significantly more than 1 million" of the FPV drones, Kamyshin told Business Insider this week, providing an update on the production efforts but declining to provide specific figures. Throughout much of Russia's brutal war in Ukraine, FPV drones have been heavily featured in combat. AdvertisementUkrainian FPV drone operator from the 53rd Mechanized Brigade launches a drone toward Russian positions in Donetsk Oblast. He referred to FPV drones as "mortar drones" and "artillery drones" in a nod to their explosive potential that's similar to the ranged weapons.

Persons: —, Oleksandr Kamyshin, Kamyshin, Ukraine Kamyshin, Paula Bronstein Organizations: Service, Business, 53rd Mechanized Brigade, General Staff of, Armed Forces, NATO Locations: Ukraine, Ukrainian, Donetsk Oblast, Washington ,, Russia, Kyiv, Washington, Soviet

☆ Google revamps its ambitions for AR glasses to make up lost ground and stem defectors to Meta
▼ + stars: | 2024-07-12 | by ( Hugh Langley | ) www.businessinsider.com time to read: +11 min

Hugo Swart, formerly Qualcomm's head of XR, joined Google's AR group in April to lead ecosystem strategy and partner relationships. Related storiesMark Lucovsky, a senior director on Google's AR software, left last July, citing "changes in AR leadership and Google's unstable commitment and vision" to the product. "Doing anything first-party is a challenge relationship-wise," said a former Google AR team member. There is internal speculation that Samsung will be the first to also build glasses with Google's AR software, according to two employees familiar with the matter. Without a device of its own and with its AR software still in development, Google now finds itself on the back foot.

Persons: —, Google, it's, Sergey Brin, Rick Osterloh, Ramin Talaie, Shahram Izadi, HoloLens, Hugo Swart, Swart, reshuffles, Jeffrey Margolis, Mark Lucovsky, Paul Greco, Barry, Betty, Harriet Google, Harriet, Said Bakadir, Iris, Apple, Kim Kulish, Meta, Anshel Sag Organizations: Service, Astra, Business, Google, Samsung, Tech, Getty, Android, Google's, Microsoft, Meta, XR, Qualcomm, Samsung Unpacked, Samsung Google, Vision, Lenovo, Moor Locations: hughlangley

☆ Artists in New York got $1,000 monthly through a basic income program. One participant used the money to pay bills and afford healthcare.
▼ + stars: | 2024-07-12 | by ( Allie Kelly | ) www.businessinsider.com time to read: +7 min

Bunnell was a participant in Creatives Rebuild New York's guaranteed income program. Some of the guaranteed income participants lived in cities, while others lived in rural areas. Related storiesCreatives Rebuild New York's guaranteed income program joins over 100 similar pilots across the US aimed at reducing local poverty levels. The organization allocated $43.2 million total to the guaranteed income program and $61.6 million to the artist employment program. Courtesy of Jacinta BunnellHave you benefited from a guaranteed income program?

Persons: —, Jacinta Bunnell, Bunnell, Stavros Niarchos, Dr, Diana Pearce, Maura Cuffie, Peterson, Jacinta Bunnell Bunnell, I've, Jacinta Organizations: Service, Business, Mellon Foundation, Tides Center, Ford Foundation, Rebuild, New Locations: Stone Ridge , New York, Manhattan, New York, Northwest Brooklyn, Rebuild New York, York

☆ Watch CNBC’s full interview with NewEdge's Cameron Dawson, Branch Global’s Greg Branch and Strategic Wealth’s Adrianne Yamaki
▼ + stars: | 2024-07-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with NewEdge's Cameron Dawson, Branch Global’s Greg Branch and Strategic Wealth’s Adrianne YamakiNewEdge's Cameron Dawson, Branch Global’s Greg Branch and Strategic Wealth’s Adrianne Yamaki, join 'Closing Bell' to discuss the Russell 2000 small cap rally, Fed rate cuts and the broader market.

Persons: NewEdge's Cameron Dawson, Greg Branch, Yamaki NewEdge's Cameron Dawson, Russell Organizations: Branch

☆ These are top global stock picks for the second half, according to UBS
▼ + stars: | 2024-07-12 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

The outlook for stocks is becoming more favorable as inflation slows and the Federal Reserve looks to cut interest rates by yearend, according to UBS. Against that backdrop, UBS thinks investors should maintain a neutral view and remain strategic in their stock allocations. Here are some of the stocks on the UBS list: One of the stocks added to the list was San Diego-based, medical device maker Dexcom . Despite growth in the continuous glucose monitoring (CGM) segment of the diabetes market over the past few years, the sizable diabetes market has a "relatively low" penetration rate, according to UBS. "We expect DXCM to remain a leading player within the very concentrated CGM market."

Persons: Eric Potoker, that's, Ralph Lauren Organizations: Federal, yearend, UBS, San, MGM Resorts, Super, Las Vegas, Samsung Locations: Swiss, San Diego, Las Vegas, Las

☆ CNBC's Inside India newsletter: Modi in Moscow. What’s new?
▼ + stars: | 2024-07-11 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Russia's President Vladimir Putin and Indian Prime Minister Narendra Modi take a walk during an informal meeting at the Novo-Ogaryovo state residence, outside Moscow, on July 8, 2024. Indian Prime Minister Narendra Modi and Russian President Vladimir Putin sat down for tea at a country retreat outside Moscow earlier this week. Russia has also supplied India with nuclear fuel since the 1990s and lately has also been helping build nuclear reactors. Consumer inflation in India is high and volatile, which hurt Modi's election performance last month, and the prime minister is doing his best to keep prices down for his citizens. Far from a strategic relationship, India is buying goods from the cheapest supplier.

Persons: Vladimir Putin, Narendra Modi, Gavriil GRIGOROV, GAVRIIL, defund, Modi, Putin Organizations: Indian, Getty, Washington , D.C, NATO Locations: Moscow, Russian, Washington ,, United States, India, Russia, U.S, Ukraine

☆ Treasury, IRS announce 'major milestone' of $1 billion in past-due taxes collected from millionaires
▼ + stars: | 2024-07-11 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

Internal Revenue Service Commissioner Danny Werfel testifies before the House Appropriations Committee on Capitol Hill in Washington, May 7, 2024. The U.S. Department of the Treasury and the IRS on Thursday announced what they called a "major milestone" of collecting more than $1 billion in tax debt from high-income individuals over the past year. "The IRS has collected $1 billion from millionaires and shown that it can successfully launch strategic new initiatives and achieve the greatest return on investment," Treasury Secretary Janet Yellen told reporters during a press call. The infusion of IRS funding, enacted via the Inflation Reduction Act in 2022, still has its critics, however, particularly among congressional Republicans. "During the past decade, the IRS didn't have the resources or staffing to pursue high-income earners who our compliance team knew owed taxes," IRS Commissioner Danny Werfel said during the press call.

Persons: Danny Werfel, Janet Yellen, Biden Organizations: Revenue, Capitol, U.S . Department of, Treasury, IRS, Finance Locations: Washington

☆ NATO allies are discussing reclaiming some Chinese-owned infrastructure in Europe
▼ + stars: | 2024-07-11 | by ( Kayla Tausche | Kylie Atwood | ) edition.cnn.com time to read: +5 min

CNN —NATO officials are discussing taking action to reclaim some Chinese-owned infrastructure projects in Europe should a wider conflict with Russia break out in the east of the continent, three officials involved in the discussions told CNN. A decade ago, when Europe was still crawling out of the economic crater caused by the global financial crisis, the promise of infrastructure funding from Chinese-owned investment firms seemed like a major windfall. The fear, according to one US official, is that Beijing could use the infrastructure it owns in Europe to provide material assistance to Russia if the conflict were to expand. The discussions reflect an increasing focus on China by the NATO alliance. A NATO official said that if a war erupted, the infrastructure “would almost certainly be nationalized, or nations would temporarily assume operating control, under emergency security measures.

Persons: Antony Blinken, Kishida, ” Blinken, Jens Stoltenberg, CNN’s Natasha Bertrand Organizations: CNN, NATO, Washington, Moscow, Beijing, Initiative, Helsinki Shipyard –, US, Ukraine, European Union Locations: Europe, Russia, Ukraine, Beijing, China, NATO, Eastern Europe, Baltic, Finland, Canada, Japan, East Asia, South Korea, Australia, New Zealand, France, Washington

☆ Here are Thursday's biggest analyst calls: Nvidia, Apple, Amazon, Spotify, AMD, Uber, McDonald's, Broadcom & more
▼ + stars: | 2024-07-11 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Thursday's biggest calls on Wall Street: Morgan Stanley reiterates Eli Lilly as overweight Morgan Stanley raised its price target on the stock to $1,083 per share from $1,023. "We are initiating RBBN with a Buy rating and $5 price target because the investment thesis has significantly improved." Rosenblatt reiterates Broadcom as buy Rosenblatt raised its price target on the stock to a Street high $2,400. Morgan Stanley downgrades Microchip to equal weight from overweight Morgan Stanley said the semis company has a "lofty" valuation. Morgan Stanley upgrades Telefonica Brasil to overweight from equal weight Morgan Stanley said it's bullish on shares of the LatAm telecom company.

Persons: Morgan Stanley, Eli Lilly, Rosenblatt, Goldman Sachs, Goldman, Mizuho, Truist, Wells, Guggenheim, it's, Jefferies downgrades Darden, Jefferies, Roblox, VIV, OW, Uber, McDonald's Organizations: Broadcom, AVGO, " Bank of America, Apple, Bank of America, JPMorgan, Nvidia, Digital Realty, Mizuho, Services, AMD, Silo AI, KBW, Guggenheim, Costco, Jefferies, Spotify, Telefonica Brasil, Energy, Uber, CART Locations: NYC, Europe, underperform, Olive, China

For more than six months, Russia has been carrying out a sabotage campaign across Europe, largely by proxy. “We’re seeing sabotage, we’re seeing assassination plots, we’re seeing arson. Russia’s sabotage campaign has, at times, smacked of a shotgun approach carried out by amateurs. In London in March, several men were charged with working with Russian intelligence services to set fire to a Ukrainian-linked warehouse. And French authorities last month detained a Russian-Ukrainian man who was allegedly building bombs as part of a sabotage campaign orchestrated by Moscow.

Persons: Armin Papperger, Olaf Scholz, Boris Pistorius, Fabian Bimmer, “, ”, Adrienne Watson, “ Russia’s, Oliver Hoffman, ” Hoffman, Donald Tusk, Papperger, Dariusz Borowicz, Agencja Wyborcza.pl, Reuters “, ” CNN’s Zachary Cohen Organizations: CNN, Kyiv, Rheinmetall, NATO, National Security, NATO Allies, Embassy, intel, US, Reuters, Ukraine Locations: Ukraine, Europe, Kyiv, Germany, Berlin, Russia, West, Moscow, Papperger, Unterluess, United States, Washington, Russian, Polish, Lithuania, Poland, Ukrainian, London, Warsaw

☆ Russia Vows ‘Military Response’ to U.S. Missile Deployments in Germany
▼ + stars: | 2024-07-11 | by ( Ivan Nechepurenko | Paul Sonne | ) www.nytimes.com time to read: +1 min

Russia is preparing military countermeasures in response to the planned American deployment of longer-range missiles in Germany, the Russian deputy foreign minister said on Thursday, adding that the U.S. move was “destructive to regional safety and strategic stability.”“Without nerves, without emotions, we will develop a military response, first of all, to this new game,” the deputy minister, Sergei A. Ryabkov, told Interfax, a Russian news agency. In a separate comment published by the Russian Foreign Ministry, Mr. Ryabkov said that Moscow had anticipated the decision and that Russia had started preparing “compensating countermeasures” in advance. In a joint statement, the United States and Germany said Washington would begin “episodic deployments” of the missiles in Germany in 2026, including those that are “significantly longer range” than the ones currently deployed throughout Europe.

Persons: ”, Sergei A, Ryabkov Organizations: Russian Foreign Ministry Locations: Russia, Germany, U.S, Russian, Moscow, United States, Washington, Europe

Bank of America, meanwhile, raised its price target on Costco after the company announced an increase to its membership fees. Analyst James Heaney assumed coverage of Roblox with a hold rating — down from a buy — and $42 price target, which implies a 5.9% potential increase. Rakers' new target price suggests the stock — which is up 24.8% this year — could gain another 11.4%. Analyst Robert Ohmes upped his price target by $88 to $962 on Costco, suggesting shares could gain 8.8%. Its price target of $385 implies upside of 26.2% from Wednesday's close.

Persons: Jefferies, Roblox, downgrades, James Heaney, Heaney, RBLX, — Pia Singh, Wells, Aaron Rakers, Rakers, Wamsi Mohan, Mohan, There's, Robert Ohmes, Ohmes, Fred Imbert Organizations: CNBC, Spotify Technology, Bank of America, Costco, Silo AI, Silo, AMD, Apple, of America, Apple's, Conference, U.S, Apple Vision, America, Jefferies, Spotify Locations: Wells Fargo, Europe, North America, Nod.ai, U.S, China, India, Canada, Wednesday's

☆ CNN chief Mark Thompson announces sweeping overhaul of news network, cuts 100 jobs
▼ + stars: | 2024-07-10 | by ( Oliver Darcy | ) edition.cnn.com time to read: +7 min

CNN —Mark Thompson, the CNN chief executive appointed last year to modernize the news network, unveiled a set of sweeping changes to the iconic outlet Wednesday, announcing plans to build a billion-dollar digital business, experiment with artificial intelligence and overhaul key newsroom structures. Mark Thompson officially started on October 9 as CNN's chief executive and chairman and will also act as the network's editor-in-chief. Thompson, who is widely credited for revitalizing The Times, was appointed CNN chief executive last summer, after Licht’s tumultuous run in the job. Since then, Thompson has spoken consistently about the need to transform CNN’s business but has largely avoided offering specifics. Whether Thompson can successfully create a billion-dollar digital news business at CNN remains to be seen.

Persons: Mark Thompson, Thompson, ”, Art Streiber, ” Thompson, “, CNN Max, Max, Ted Turner, CNN’s, Charlie Moore, “ Anderson Cooper, Jeff Zucker, Chris Licht, Zucker, Licht Organizations: CNN, Netflix, Warner Bros, Discovery, Inc, Warner Bros ., The New York Times, The Times Locations: CNN’s Hong Kong, London, Los Angeles

☆ Front-line NATO allies say the West needs to give Ukraine the 'technological superiority' it needs to beat Russia
▼ + stars: | 2024-07-10 | by ( Jake Epstein | ) www.businessinsider.com time to read: +5 min

Read previewThe West should send Ukraine the kind of weapons it needs to inflict a lasting, strategic defeat on Russia, NATO countries on the front lines of the military alliance said Tuesday. With this threat in mind, the Baltic nations have long pushed for increased defense spending among NATO member states. "The goal must be [the] strategic defeat of Russia in Ukraine," said Latvian Defense Minister Andris Sprūds. The Baltic states say enabling Ukraine to win will require a massive political buy-in and support from the West. "We have to say clearly: 'Yes, we will help Ukraine to win this war.'"

Persons: —, Hanno Pevkur, Pevkur, Serhii, Laurynas, Kasčiūnas, Andris Sprūds, Joe Biden, Jens Stoltenberg, Andrew Mellon, Kevin Dietsch Organizations: Service, Lithuania —, Kyiv, Business, Estonian, POLITICO, NATO, Artillery, System, Getty, Russian, Moscow, Chamber of Commerce, Latvian Defense, Andrew Locations: Ukraine, Russia, NATO, Estonia, Latvia, Lithuania, Baltic, Moscow, Washington ,, West, Europe, AFP, Kyiv, Washington , DC

☆ A Ukrainian minister says she's frustrated by the West's inability to adapt its weapons to Russian tactics: report
▼ + stars: | 2024-07-10 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +1 min

Western-supplied weapons are having a diminished impact in Ukraine as Russia adapts its tactics. A Ukrainian minister expressed frustration at the pace of adaptation, The Wall Street Journal reported. AdvertisementA Ukrainian minister has expressed concerns over the lack of adaptation in weapons being sent to Ukraine from the West. Some weapons systems that were immensely effective when they were first deployed in Ukraine have since seen limited results or have even fallen by the wayside as Russian forces adapt their tactics to counter them. Anna Gvozdiar, Ukraine's minister of strategic industries, told The Wall Street Journal that she was frustrated that these systems were not being adapted to catch up.

Persons: —, Anna Gvozdiar Organizations: Street Journal, Service, Wall Street Journal, Business Locations: Ukraine, Russia

☆ The West's attempts at isolating Russia just took another big blow
▼ + stars: | 2024-07-10 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Read previewIndian Prime Minister Narendra Modi made Russia the destination of his first bilateral visit after securing a historic third term in office. On Monday, the US State Department said it has raised concerns with New Delhi about India's relationship with Russia. AdvertisementModi's advances toward Putin come less than two months after the usually reserved Chinese leader Xi Jinping hugged Putin not once, but twice — dealing another blow to the West's isolation of Russia. India imported about $60 billion of goods a year from Russia in the last fiscal year. "Due to Russia's close ties with China, India can turn to Russia to help defuse crises when bilateral geopolitical tensions flare up between India and China," he added.

Persons: —, Narendra Modi, Vladimir Putin, Volodymyr Zelenskyy, Putin, Xi Jinping, Xi, Modi, Rajiv Biswas, who's, Biswas, Vinay Kwatra Organizations: Service, NATO, Washington DC, Business, US State Department Locations: Russia, Ukrainian, Washington, Moscow, New Delhi, India, China

☆ Barclay's Adrienne Yih on Nike stock downgrade: Uncertainty over strategic outlook has increased
▼ + stars: | 2024-07-10 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBarclay's Adrienne Yih on Nike stock downgrade: Uncertainty over strategic outlook has increasedAdrienne Yih, Barclays analyst, joins 'Squawk Box' to discuss Nike's stock plunge, the company's strategic missteps, what's next for the company, and more.

Persons: Adrienne Yih, what's Organizations: Nike, Barclays

☆ National Portrait Gallery acquires Dolley Madison daguerreotype — the earliest known photograph of a US First Lady
▼ + stars: | 2024-07-09 | by ( Torey Akers | ) edition.cnn.com time to read: +3 min

CNN —The Smithsonian’s National Portrait Gallery (NPG) in Washington, DC, has acquired the earliest known photograph of a US First Lady. The quarter-plate daguerreotype of former First Lady Dolley Madison, wife of fourth US president James Madison, dates from around 1846. The Dolley Madison daguerreotype, made by artist and entrepreneur John Plumbe Jr., shows the trailblazing First Lady when she was in her late seventies. In addition to his portrait of Madison, he created the earliest extant image of the US Capitol. Courtesy Sotheby'sThe NPG bought the Madison photograph for $456,000 at a Sotheby’s auction of books, manuscripts and Americana on June 28, more than six times the lot’s high estimate of $70,000.

Persons: Dolley Madison, James Madison, John Quincy Adams, Philip Haas, Madison daguerreotype, John Plumbe Jr, Madison, Lonnie G, Joseph L, Emily K, ” Bunch, Dolley Payne Todd Madison, Lady, soirees, Zachary Taylor, ”, Louis Daguerre Organizations: The Art, CNN, Capitol, Plumbe, Madison, Smithsonian, Gidwitz, Foundation Endowment, US Locations: Washington ,, America, United States, Philadelphia, Washington, Madison

☆ Russia said it prevented a Ukrainian attempt to hijack a missile-carrying strategic bomber
▼ + stars: | 2024-07-09 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +1 min

Russia's FSB said it thwarted a Ukrainian attempt to hijack a missile-carrying strategic bomber. It also claimed NATO special services were involved in the failed operation. AdvertisementRussia's Federal Security Service said it thwarted a Ukrainian attempt to hijack a missile-carrying strategic bomber. "The FSB has stopped another Ukrainian special services attempt to carry out an operation to hijack the Tu-22M3 long-range strategic bomber," it said in a statement on Monday, per a translation by The Moscow Times. According to the FSB, Ukrainian intelligence promised an unnamed Russian military pilot money and Italian citizenship in exchange for him taking off and landing the plane in Ukraine.

Persons: — Organizations: NATO, Service, Security Service, Moscow Times, Business Locations: Ukraine, Russian

☆ Japan and Philippines' defense pact seeks to counter China's aggression in the region, experts say
▼ + stars: | 2024-07-09 | by ( Dylan Butts | ) www.cnbc.com time to read: +2 min

Japan and Philippines' defense pact signed on Monday seeks to counter China's increasing aggression in the region and create deterrence that goes beyond reliance on the U.S., experts told CNBC. The RAA marks Japan's second such agreement with a country in the Asia-Pacific region, following similar agreements with Australia in 2022. The treaty must be ratified by the appropriate legislative bodies of the Philippines and Japan before coming into force. Kamikawa called the signing of the RAA "a great achievement" for the two countries to further strengthen security and defense cooperation. "Both countries have maritime territorial disputes with China, and they are facing increasingly assertive and aggressive Chinese naval forces," Yaacob added.

Persons: Fumio Kishida, Ferdinand Marcos Jr, Thomas Shoal, Gilberto Teodoro, Yoko Kamikawa, Ferdinand Romualdez Marcos Jr, Teodoro, Rahman Yaacob, Kamikawa, Yaacob Organizations: Japan's, ASEAN, Japan, CNBC, Philippine Defence, Japan's Official Security, Southeast Asia, Lowy Institute Locations: Philippines, Tokyo, Japan, China, South China, Manila, Philippine, Asia, Pacific, Australia

☆ Putin hosts India’s PM to deepen ties, but Ukraine looms over their relationship
▼ + stars: | 2024-07-09 | by ( ) www.cnbc.com time to read: +6 min

Russia's President Vladimir Putin and India's Prime Minister Narendra Modi walk during their meeting at the Novo-Ogaryovo state residence near Moscow, Russia July 8, 2024. Their partnership has become more complicated, however, as Russia has moved closer to China amid international isolation of Moscow over Ukraine. Russian state media reported that they would also discuss Moscow helping India build more nuclear power plants. The two countries already are collaborating on the Kudankulam nuclear power project in the southern Indian state of Tamil Nadu. With Moscow's arms industries mostly serving the Russian military in Ukraine, India has been diversifying its defense procurements, buying more from the U.S., Israel, France and Italy.

Persons: Vladimir Putin, Narendra Modi, Putin, Modi, Volodymyr Zelenskyy, Matthew Miller, Vinay Mohan Kwatra Organizations: India's, Indian, NATO, . State Department, Shanghai Cooperation Organization, India, Russian Locations: Moscow, Russia, Washington, Ukraine, China, Kazakhstan, Beijing, Russian, Kyiv, India, New Delhi, Tamil Nadu, United States, Vladivostok, Uzbekistan, U.S, Israel, France, Italy, Chennai, East

☆ U.S. won't sacrifice India ties just because of optics around Modi's Russia visit, analyst says
▼ + stars: | 2024-07-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. won't sacrifice India ties just because of optics around Modi's Russia visit, analyst saysRick Rossow, chair in U.S.-India policy studies at the Center for Strategic and International Studies, discusses Indian Prime Minister Narendra Modi's visit to Russia and how the United States views it, saying Modi has to face his own voters before the international community.

Persons: Rick Rossow, Narendra Modi's, Modi Organizations: U.S, Center for Strategic, International Studies, Indian Locations: India, Russia, United States

☆ How a Roth conversion ladder can save on future taxes and unlock retirement funds early
▼ + stars: | 2024-07-09 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

Roth individual retirement account conversions are a popular way to reduce future levies on pretax 401(k) or IRA withdrawals — and you can smooth out the upfront tax hit with a "Roth conversion ladder," experts say. Roth conversions transfer pretax or nondeductible IRA money to a Roth IRA, which offers future tax-free growth. The trade-off is regular income taxes incurred that year on the converted balance. By comparison, a Roth conversion ladder is a series of conversions over multiple years, meaning "you're paying taxes in smaller increments," said certified financial planner Preston Cherry, founder and president of Concurrent Financial Planning in Green Bay, Wisconsin. Of course, boosting your adjusted gross income any year can trigger other tax consequences, such as phaseouts for certain tax breaks.

Persons: Roth, Preston Cherry, Ashton Lawrence, pretax, Lawrence Organizations: Roth IRA, Finance, CFP, Mariner Wealth Advisors Locations: Green Bay , Wisconsin, Greenville , South Carolina

☆ For Joe Biden, a career defined by proving the doubters wrong faces its biggest test
▼ + stars: | 2024-07-09 | by ( Phil Mattingly | ) edition.cnn.com time to read: +11 min

The defiance Biden has thrust into public view at the start of a critical week is a feature, not a bug. Biden’s dug-in stance in the wake of the first presidential debate is not too surprising to those who know him well. “We all watched the debate,” a House Democrat who supports Biden told CNN. “The question of how to move forward has been well aired for over a week now,” Biden wrote in his letter to House Democrats. Biden’s campaign strategy to largely stay off the campaign trail in the middle of a pandemic faced no shortage of doubters.

Persons: CNN — Joe Biden, Biden, I’m, ”, Biden’s, it’s, Biden –, Donald Trump, “, ” Biden, Trump, –, “ We’ve, Adam Smith, Biden’s “, Beau’s, Hillary Clinton, Barack Obama, Trump’s, we’re Organizations: CNN, Washington, MSNBC, “, Democratic, ABC, House Democrat, Trump, Democrats, House Armed Services Committee, Biden, House Democrats, South Carolina, Senate, Republican Party Locations: Washington, South

☆ Sarian: Markets are due for a correction, but investors should buy the dip
▼ + stars: | 2024-07-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSarian: Markets are due for a correction, but investors should buy the dipGreg Sarian, Founder and CEO of 2/13 Strategic Partners at Hightower, discusses market concentration, investing in bonds, and the S&P 500.

Persons: Greg Sarian, Hightower

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