The upcoming 2024 presidential debate between President Joe Biden and former President Donald Trump is expected to shed light on their respective stances on tax policy. One of the key issues up for discussion is the fate of the expiring tax breaks introduced through the Tax Cuts and Jobs Act of 2017 (TCJA). If Congress
The recent financial report released by H&M sent shockwaves through the stock market as shares plummeted over 14% in response to lower-than-expected profits for the second quarter. Analysts had predicted an operating profit of 7.37 billion Swedish kroner, but the actual results fell short at 7.1 billion Swedish kroner. The company’s stock initially dropped 13%,
Cody Gude, a 35-year-old from Tampa, Florida, was eagerly anticipating a decrease in his student loan payment from $200 to $100 due to the rollout of the Saving on a Valuable Education (SAVE) plan by President Joe Biden. This lower monthly payment meant he would no longer have to work extra delivering groceries on Instacart.
The summer housing market is not shaping up to be any better than the weak spring market that preceded it. Despite high home prices and rising mortgage rates, consumers are showing little interest in increasing home listings. As a result, weekly mortgage demand has remained stagnant for the second consecutive week. The Mortgage Bankers Association
Southwest Airlines recently announced a significant decrease in its second-quarter revenue forecast, which resulted in a 4% drop in the company’s shares during premarket trading. The airline cited changing booking patterns as the main reason for this adjustment. Initially, Southwest expected a 1.5% to 3.5% decline in revenue per available seat mile for the second
The release of Vanguard’s annual report, How America Saves 2024, sheds light on the current state of Americans’ retirement savings. While the report shows that investors are saving more than in the past, there is still a need for increased savings to ensure a comfortable retirement. With the median 401(k) balance of those nearing retirement
In a recent panel at the World Economic Forum’s “Summer Davos” meeting in Dalian, China, Wan Gang, the man behind China’s electric car strategy, expressed his belief that Chinese investment in the European electric vehicles industry could benefit both sides amid ongoing trade tensions. He highlighted the potential for combining investment with commodity trade as
The Biden administration recently announced its plan to implement inflation penalties on 64 prescription drugs for the third quarter of this year, aimed at reducing costs for older Americans enrolled in Medicare. This move is part of President Joe Biden’s broader agenda to lower U.S. drug prices, particularly for Medicare beneficiaries over the age of
Artificial intelligence has become a centerpiece in the financial sector, allowing companies like Morgan Stanley to innovate and streamline operations. The investment giant is taking a significant leap forward with the introduction of Debrief, an AI assistant designed to revolutionize the way financial advisors conduct meetings and interact with clients. The adoption of generative AI
Europe’s approach to artificial intelligence (AI) has been focused heavily on regulation rather than innovation, according to Prince Constantijn of the Netherlands. He expressed his concerns that Europe’s ambition seems to be limited to being good regulators, which may hinder the region from becoming a leader in AI development. While regulation is necessary to ensure