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☆ At X Staff Meetings, Executives Talk Up Return of Advertisers
▼ + stars: | 2024-06-13 | by ( Kate Conger | Ryan Mac | ) www.nytimes.com time to read: +1 min

Leaders at Elon Musk’s social media company, X, told employees this week that 65 percent of advertisers had returned to the platform since January, according to recordings of all-hands meetings obtained by The New York Times, and that smaller companies now made up the bulk of its revenue. The executives, including Linda Yaccarino, who was appointed to run the company a year ago, admitted that the company continued to face challenges as it rebuilt its beleaguered advertising business. Some investors at Tesla, which accounts for the bulk of Mr. Musk’s wealth, have expressed concern he has been distracted by X. Since Mr. Musk took over the social media company, the billionaire has cut 75 percent of staff, restored hundreds of banned accounts and remade the platform to allow most speech, without consequences. In November, he told advertisers not to spend on X, dismissing them using an expletive during an interview at The Times’s DealBook conference.

Persons: Linda Yaccarino, Musk, X Organizations: Elon, The New York Times, Tesla

☆ Senate Democrats call for higher taxes on Wall Street profits to address federal budget deficit
▼ + stars: | 2024-06-13 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

Senator Chuck Grassley, a Republican from Iowa and ranking member of the Senate Budget Committee, during a hearing in Washington, DC, on Tuesday, March 12, 2024. As Congress wrestles with a looming decision over trillions in expiring tax breaks, lawmakers and experts in a Senate Budget Committee hearing debated several Democratic proposals for higher taxes on corporations and wealthy Americans. Proponents said the plans aim to address income inequality and the federal budget deficit. However, many of these proposals, such as reforms to carried interest, have failed to gain broad support even among Democrats, said Sen. Chuck Grassley, R-Iowa. While carried interest reform was originally included in the Inflation Reduction Act, those changes were removed before the bill passed in the Senate.

Persons: Chuck Grassley, Joseph Stiglitz, Sen, Mitt Romney Organizations: Republican, Finance, Biden, Trump, Columbia University, Senate Locations: Iowa, Washington ,, R, Utah

☆ Goldman likes these resilient stocks as U.S. consumer begins to face more headwinds
▼ + stars: | 2024-06-12 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

While challenges are mounting for consumers, Goldman Sachs still has some names that it sees as smart picks. The latest indicator of how shoppers are faring came Wednesday morning with the May consumer price index reading. The majority of analysts surveyed by LSEG also have a buy rating and price target suggesting the stock can gain another 6%. Their price target reflects the potential for almost 5% in upside. Goldman is not the only firm that sees the stock as a wise idea given the current backdrop.

Persons: Goldman Sachs, Kate McShane, McShane, LSEG, JPMorgan's Christopher Horvers, Horvers, Goldman, Jefferies Organizations: Federal, Walmart, Royal, Consumer, Colgate, Palmolive, Wednesday Locations: Royal Caribbean

☆ Biden and Trump both want to extend tax cuts for most Americans — but paying for it could be tricky
▼ + stars: | 2024-06-11 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

Presumptive nominees President Joe Biden and former President Donald Trump have both pledged to extend expiring tax breaks for most Americans — but questions remain on how to pay for it. Trillions in tax breaks enacted by Trump via the Tax Cuts and Jobs Act of 2017, or TCJA, will expire after 2025 without action from Congress. Expiring individual provisions include lower federal income brackets, higher standard deductions, a more generous child tax credit and more. But the federal budget deficit will be a "huge sticking point" as the 2025 tax cliff approaches, said Erica York, senior economist and research manager with the Tax Foundation's Center for Federal Tax Policy. The cost of extending major parts of the TCJA has grown about 50% since initial estimates in 2018, according to the Committee for a Responsible Federal Budget.

Persons: Joe Biden, Donald Trump, Erica York Organizations: Trump, Tax, Center, Federal Tax, Finance, Congressional, Budget

☆ The WNBA just had its most-watched games ever
▼ + stars: | 2024-06-10 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +2 min

The league also said Monday it had its most-watched start of the season games ever across all six networks that broadcast matches — ABC, ESPN, ESPN2, CBS, ION and NBA TV. Women’s basketball is experiencing a boom thanks to the phenomenon around WNBA rookie Clark. Since then, her entry to the WNBA, along with other players like Reese, has kicked off a new era in the league. Tick Pick, an online ticketing site, reported a 435% increase year over year in total tickets sold for WNBA games in May, with the average price of the tickets increasing 60%. Indiana Fever had a whopping 4,493% increase in May tickets sold.

Persons: Caitlin Clark, Angel Reese, Clark, Reese, we’ve, ”, Edison, Los Angeles Sparks’s Cameron Brink, Kate Martin, Tick Pick Organizations: New, New York CNN, WNBA, ABC, ESPN, ESPN2, CBS, ION, NBA, NCAA, Iowa Hawkeyes, South Carolina Gamecocks, Indiana Fever, Chicago Sky, Las Vegas Aces Locations: New York, alma, Los Angeles

☆ Every Elephant Has Its Own Name, Study Suggests
▼ + stars: | 2024-06-10 | by ( Kate Golembiewski | ) www.nytimes.com time to read: +1 min

It’s more than a sound people make to get your attention — it’s a seemingly universal hallmark of human society and language, the specifics of which set us apart from our fellow animals. Now, scientists say they have found evidence with the help of artificial-intelligence-powered tools that elephants call each other by names too. Elephants’ trumpeting calls might be their most recognizable sounds, but these “are basically an emotional outburst,” Dr. Pardo said. Lower-pitched rumbles, he said, are more meaningful, as they make up a majority of elephant vocalizations and are used in a wide variety of social situations. “A lot of interesting stuff is going on in the rumbles,” he said.

Persons: ”, Mickey Pardo, ” Dr, Pardo, George Wittemyer Organizations: Cornell, of Ornithology, Colorado State University, Buffalo, Buffalo Springs National Reserves Locations: Samburu, Buffalo Springs, Kenya

☆ Roche alleges counterfeit diabetes devices sold on Amazon
▼ + stars: | 2024-06-10 | by ( Kate Rooney | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRoche alleges counterfeit diabetes devices sold on AmazonCNBC's Kate Rooney joins 'Power Lunch' to discuss the lawsuit filed by Roche for fake medical devices being sold on Amazon.

Persons: Email Roche, Kate Rooney, Roche Organizations: Amazon

☆ The tax deadline for American expats is June 17 — here are some key things to know
▼ + stars: | 2024-06-10 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

If you're living and working abroad and still need to file 2023 taxes, the deadline is only one week away. While the regular tax deadline was April 15 for most taxpayers, there's an automatic two-month extension to June 17 for those U.S. citizens and resident aliens, including dual citizens, who live outside the country. There are two ways to qualify for the June 17 deadline, according to the IRS. You must live outside of the U.S. and Puerto Rico or serve in the military outside the country during the regular tax deadline. The "fastest and easiest" ways to make payments are via an IRS Online Account, Direct Pay and the Electronic Federal Tax Payment System, according to the IRS.

Persons: John Lennon, Mike Wallace Organizations: Finance, Biden, Trump, IRS, Tax Services, Electronic Locations: Puerto Rico

☆ Biden vs. Trump: Here's what the next president means for your taxes
▼ + stars: | 2024-06-08 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +3 min

Howard Gleckman Senior fellow at the Urban-Brookings Tax Policy CenterOf course, future legislative updates, if any, will depend on which party controls Congress. More generous child tax creditAnother expiring TCJA provision is the bigger child tax credit, which some lawmakers have fought to expand in 2024. The TCJA doubled the maximum child tax credit to $2,000, boosted the refundable portion to $1,400 and expanded eligibility. Biden has called for an expansion, but there have been debates in Congress over the child tax credit design, including the amount, eligibility and refundability, said Gleckman. Fully extending the TCJA tax breaks could add an estimated $4.6 trillion to the deficit over the next decade, according to the Congressional Budget Office.

Persons: Joe Biden, Donald Trump, Chip Somodevilla, Alex Wong, Howard Gleckman, Garrett Watson, Biden, Trump, Gleckman, Watson, Lael Brainard Organizations: Urban, Brookings Tax, Tax, Center, Congressional Locations: Lower, China

☆ The Covid-19 pandemic worsened a child care crisis, and it's costing U.S. businesses billions
▼ + stars: | 2024-06-08 | by ( Kate Rogers | ) www.cnbc.com time to read: +3 min

Policy advocates argue that child care, including for infants and toddlers, is an economic issue that affects all Americans, not just those with young kids. That is up from $57 billion in 2018, before the pandemic exposed and exacerbated holes in the system for working families and the companies that rely on them. Part of the nationwide solution is supporting what the group calls the "workforce behind the workforce" — early child care providers. "Supporting the early childhood workforce could include such things as making sure child care providers have access to benefits. "Programs that support additional training and education for child care providers are important as well."

Persons: Nancy Fishman, Fishman Organizations: Bureau of Labor Statistics, Bank of America, American, ReadyNation, CNBC

☆ Interviewers keep giving Trump an off-ramp to his revenge tour. He isn’t taking it
▼ + stars: | 2024-06-07 | by ( Steve Contorno | ) edition.cnn.com time to read: +6 min

The open calls for revenge have effectively put retaliation on the ballot this November, and Trump allies have said as much. Trump launched his third campaign for president still seething over his 2020 defeat and signaling revenge against those who kept him from a second term. In March 2023, Trump told the Conservative Political Action Conference: “I am your retribution.”At the urging of some advisers, Trump has at times stepped back from the harsh rhetoric. Trump told the same conservative gathering earlier this year, “Retribution is going to be through success.”It’s a sentiment Trump has repeated many times since — including in the days after his hush money trial ended — but it’s not one he appears fully committed to. After his interview with Trump, McGraw told CNN’s Abby Phillip that he tried to get the former president to understand that a “revenge tour” wouldn’t heal the country and bring people together.

Persons: Donald Trump, Phil McGraw, Phil, Trump, ” McGraw, ” Trump, ”, Sean Hannity, it’s Joe Biden, Hannity, Stormy Daniels, Jim Jordan, Attorney Alvin Bragg, Matthew Colangelo, “, Marco Rubio, JD Vance, Ohio —, Biden, ” Rubio, Stephen Miller, ” Miller, Russell Vought, Kellyanne Conway, ” Conway, Hillary Clinton, ‘ Lock, ’, Steve Bannon, McGraw, CNN’s Abby Phillip, that’s, ” CNN’s Kate Sullivan Organizations: CNN, Fox News, Ohio, Attorney, Trump, GOP, Republican Party, Capitol, Conservative Political, Fox Locations: Manhattan, Marco Rubio of Florida, Washington

☆ These tax strategies can be a 'silver lining' after a prolonged job layoff, advisor says
▼ + stars: | 2024-06-07 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

"It's not a free lunch" because you'll still owe regular income taxes on the converted balance, she said. Converting funds to a Roth IRA "can be a great opportunity for tax-free growth and future tax-free distributions," Franco‑Cicero said. Leverage the 0% capital gains bracketIf your income is low enough, you could leverage the 0% long-term capital gains tax bracket to rebalance a taxable portfolio or save on future taxes, experts say. For 2024, you may qualify for the 0% long-term capital gains rate with taxable income of $47,025 or less for single filers and $94,050 or less for married couples filing jointly. That's because the bracket is based on taxable income, which is calculated by subtracting the greater of the standard or itemized deductions from your adjusted gross income.

Persons: Alvaro Gonzalez, Roth, CFP Catalina Franco ‑ Cicero, Tobias, you'll, Franco ‑ Cicero, Quinones Organizations: CFP Catalina Locations: Plantation , Florida

☆ Mega backdoor Roth conversions can boost tax-free growth — if you avoid these mistakes
▼ + stars: | 2024-06-06 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

Mega backdoor Roth conversions can significantly boost tax-free retirement savings — but this maneuver is not available for all investors and mistakes are common, experts say. A mega backdoor Roth conversion involves after-tax 401(k) contributions, which are shifted to Roth accounts. The full 401(k) limit is $69,000 for 2024, including employee deferrals, employer matches, profit sharing and other deposits. Mega backdoor Roth conversions are "a great tool when used appropriately," but you need to know your goals first, said certified financial planner Jamie Clark, founder of Ruby Pebble Financial Planning in Seattle. More from Personal Finance:Mega backdoor Roth conversions can be a 'no brainer' for higher earners, expert saysWhy a five-day return to office is unlikely, Stanford economist saysHere's how 'spaving' could hurt your financesHere are some common mega backdoor Roth conversion mistakes and how to avoid them, according to experts.

Persons: Roth, deferrals, Jamie Clark, Stanford, Here's Organizations: Ruby, Financial, Finance, Mega Locations: Seattle

☆ Kathy Hochul Made the Wrong Decision on Congestion Pricing - The New York Times
▼ + stars: | 2024-06-06 | by ( Tom Wright | Kate Slevin | ) www.nytimes.com time to read: +1 min

Kathy Hochul’s decision to “indefinitely pause” congestion pricing in Manhattan is likely to reverberate for decades, much like the former New Jersey governor Chris Christie’s decision in 2010 to block construction of a badly needed new rail tunnel under the Hudson River. Both were short-term choices that pushed aside critical long-term investments in the most mass-transit-dependent metropolitan area of the nation. The decision by Mr. Christie, which he said was based on the project’s cost, compromised the region’s competitiveness, economy and environment. Ms. Hochul’s action raises questions about whether congestion pricing, which was set to begin at the end of the month, will ever happen. It will mean continued congestion on some of the world’s most traffic-stymied streets and no relief from the air pollution from auto and truck exhaust.

Persons: Kathy Hochul’s, Chris Christie’s, Christie, Hochul’s, Christie’s Organizations: New, New Jersey Transit, Amtrak, Metropolitan Transportation Authority Locations: Manhattan, New Jersey, Hudson, Jersey

☆ Several Trump running mate contenders have received vetting materials as search heats up
▼ + stars: | 2024-06-05 | by ( Kristen Holmes | Kate Sullivan | ) edition.cnn.com time to read: +2 min

CNN —Vetting materials have been sent to several candidates under consideration to be former President Donald Trump’s running mate, according to a person familiar with the process, as the quest to round out the 2024 Republican ticket heats up ahead of next month’s national party convention. It is unclear which potential candidates have received the vetting materials, and people familiar with the process caution that the search for Trump’s running mate is in flux. Doug Burgum, Florida Sen. Marco Rubio and Ohio Sen. JD Vance are all top contenders. NBC News was first to report that the vetting materials had been sent out. In an interview with Newsmax on Tuesday, Trump mentioned Scott, Burgum, Rubio, Vance and Ben Carson, his former Housing and Urban Development secretary, when asked about his search for a potential running mate.

Persons: Donald Trump’s, Doug Burgum, Florida Sen, Marco Rubio, Ohio Sen, JD Vance, South Carolina Sen, Tim Scott, Elise Stefanik, Trump, Newsmax, Scott, Burgum, Rubio, Vance, Ben Carson, “, ” Trump Organizations: CNN, North Dakota Gov, Ohio, South, New York, NBC News, New, Urban Development, TMJ4, Republican National Convention Locations: Florida, South Carolina, New York, Milwaukee

☆ EBay cuts ties with American Express over fees
▼ + stars: | 2024-06-05 | 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 EmailEBay cuts ties with American Express over feesCNBC's Kate Rooney joins 'Power Lunch' to discuss eBay's plan to cut ties with Amex over high fees.

Persons: CNBC's Kate Rooney Organizations: EBay, American Express

☆ Kelly: SEC is a ways away from cracking down on meme stock trading
▼ + stars: | 2024-06-05 | 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 EmailKelly: SEC is a ways away from cracking down on meme stock tradingKate Kelly, Reporter at The New York Times, discusses the meme stock frenzy connected to Roaring Kitty.

Persons: Kelly, Kate Kelly, Kitty Organizations: SEC, The New York Times

☆ You could lose money by maxing out your 401(k) plan early — unless it has this special feature
▼ + stars: | 2024-06-05 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

But you can lose money by maxing out your 401(k) too early in the year — unless the plan has a special feature. Most 401(k) plans offer an employer match, which uses a formula to deposit extra money into the account, based on your deferrals. Typically, you must contribute at least a certain percentage of income each paycheck to receive the year's full employer match. However, some 401(k) plans offer a "true-up," or additional deposit of the remaining employer match, for employees who max out contributions before the end of the year. It's typically most common in bigger plans, experts say.

Persons: maxing, Tommy Lucas, Moisand Fitzgerald Tamayo Organizations: Finance, Investor, America's Locations: Orlando , Florida

☆ Biden is alienating progressives yet again — but he may have no choice
▼ + stars: | 2024-06-04 | by ( Stephen Collinson | ) edition.cnn.com time to read: +10 min

CNN —Joe Biden is pushing progressives who are already sour on his presidency to the limit with a tough new executive action barring most asylum applications from migrants crossing the US-Mexico border illegally. Of all issues tested, Biden recorded his lowest approval rating on immigration in a CNN poll in February — just 30%. Progressives face their own dilemmaBiden would never say it bluntly in public, but his gamble with progressives carries an implicit question — where else are they going to go? Some Haley supporters on Tuesday welcomed Biden’s immigration actions, CNN’s Kit Maher reported. “While many Haley voters continue to have policy differences, this common-sense action is a clear step in the right direction to address one of the top priorities of many Haley voters,” the Haley Voters Working Group, a coalition of approximately 25 conservative Haley supporters, posted on X.

Persons: CNN — Joe Biden, Donald Trump’s, Biden, Benjamin Netanyahu, doesn’t, Trump, ”, “, ” Sen, Alex Padilla, CNN’s Manu Raju, ” Biden, Pramila Jayapal, Greg Casar, Republicans “, Ayanna Pressley, He’s, he’s, Sen, Bernie Sanders, Republican demagogue, Adolf Hitler’s, Rashida Tlaib, “ We’re, ” Tlaib, Biden’s, Joe Biden, ” Kate Bedingfield, Nikki Haley, Haley, CNN’s Kit Maher, Amanda Stewart Sprowls Organizations: CNN, Republicans, Trump, White, Progressives, Central America, Democratic, California Democrat, Congressional Progressive Caucus, Biden can’t, Republican, Texas, Massachusetts, Congressional District, Michigan Democratic, Israel, Biden White House, South Carolina Gov, Haley Locations: Mexico, Gaza, —, South, Central, California, Washington, America, Vermont, Michigan, Israel, Arizona

☆ The Kate Middleton-approved brand Me+Em is expanding to the US. I visited its NYC flagship and saw why the royals love it.
▼ + stars: | 2024-06-04 | by ( Samantha Grindell | ) www.businessinsider.com time to read: +7 min

The UK-based fashion brand Me+Em has become a royal favorite in recent years. Kate Middleton has reworn a pink dress from Me+Em to royal engagements, and Meghan Markle sported a jacket from the brand in 2020. Sophie, the Duchess of Edinburgh, was even spotted wearing the same Me+Em dress Queen Camilla owns in 2023, as Hello! Samantha Grindell/Business InsiderThe mirror was huge, and the lighting was built into the walls to save space. After seeing the Me+Em store and its clothes, I understood why it had charmed the royals.

Persons: —, Kate Middleton, Meghan Markle, Sophie, Duchess, Camilla, Clare Hornby, BEN STANSALL, Getty Images Hornby, Em, I'd, The Carlyle, Samantha Grindell, Carlyle Organizations: Service, Business, Chelsea, Getty Images, New York Times, Fashion Network, East Hampton, Madison Ave Locations: Edinburgh, New York, Madison, SoHo, East, The

One man was excused from the jury pool after saying that the Donald Trump trial in New York made him think prosecutors charge cases based on politics. He had also said he might not be able to judge the Hunter Biden case fairly because some of his loved ones are struggling with addiction. A woman in the jury pool told the judge that she is a bartender and has periodically served Hunter’s uncle at the bar. Another woman was excluded from serving on the jury after saying she had a negative view of the Biden family. Both sides agreed that she shouldn’t be eligible to serve on the case.

Persons: Donald Trump, Hunter Biden, hasn’t, Biden, “ It’s, shouldn’t Locations: New York

☆ E-Trade reportedly considering removing 'Roaring Kitty' from its trading platform
▼ + stars: | 2024-06-03 | 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 EmailE-Trade reportedly considering removing 'Roaring Kitty' from its trading platformCNBC's Kate Rooney joins 'Closing Bell' to discuss reports that E-Trade is considering removing Roaring Kitty.

Persons: Kitty, Kate Rooney Organizations: Trade

☆ Billionaire bitcoin investor Michael Saylor settles DC tax fraud case for $40 million
▼ + stars: | 2024-06-03 | 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 EmailBillionaire bitcoin investor Michael Saylor settles DC tax fraud case for $40 millionCNBC's Kate Rooney joins 'Power Lunch' to discuss billionaire bitcoin investor Michael Saylor and the company he founded, MicroStrategy, being charged to pay $40 million to settle a tax fraud lawsuit.

Persons: Michael Saylor, Kate Rooney

☆ The Biden Administration's labor department is hitting the road for 'Good Jobs Summer'
▼ + stars: | 2024-06-03 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

Acting Secretary of Labor Julie Su is hitting the road — and wants good jobs to follow. Su is bringing the Department of Labor's "Good Jobs Principles" — a national framework for better working conditions and positions — across the country. Related storiesAs part of the tour kickoff, Phoenix Mayor Kate Gallego will also announce the city's commitment to the Good Jobs Principles. It's the DOL's latest attempt at promoting the idea of "good jobs," and making them more widespread. So it's embedding equity in the way that we're creating these jobs, " Teresa Acuna, the senior policy advisor and deputy director of the Good Jobs Initiative, said.

Persons: Labor Julie Su, Su, Biden, Kate Gallego, Teresa Acuna, Acuna, we're Organizations: Service, Labor, of, Business, Department of Labor, Biden Administration, Conference, Phoenix, Good Jobs Initiative Locations: Phoenix, Alabama, Florida, Georgia, Pennsylvania, Nevada, Michigan

☆ I finally earned my dream job in the C-suite, but my relationships suffered
▼ + stars: | 2024-06-03 | by ( Jennifer Romolini | ) www.businessinsider.com time to read: +7 min

I'm good at my job, but it comes at a costIt's a site I wouldn't necessarily read myself, but I understand the assignment. AdvertisementIn addition to meetings and managing the day-to-day operations of our site, I'm in charge of an open-blogging, user-generated-content (UGC) platform, a project of which my bosses are especially proud. "Ambition Monster: A Memoir" by Jennifer Romolini is out June 4. Excerpted from Ambition Monster: A Memoir by Jennifer Romolini. Copyright 2024 Jennifer Romolini.

Persons: Tom Hanks, Kate, Jennifer Romolini, There's, I've, I'm, Alex, We've, revel Organizations: Service, Finance, Sports Locations: Silicon

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