Getty Images Many Americans know the benefit of retirement savings, yet few realize there’s a special incentive to set aside money for their golden years: the saver’s credit. The saver’s credit, formerly known as the retirement savings contributions credit, offers low- and moderate-income filers a write-off at tax time. Currently, savers may claim up to
Five-starred red flags line the Nanjing Road pedestrian street in Shanghai, China, on June 22, 2021. This year marks the 100th anniversary of the Communist Party of China. Costfoto | Barcroft Media | Getty Images China is at a crucial moment in its political and economic evolution. The political growl that is trying to become
What a difference a year can make. Last September, the travel industry agonized over a dearth of Christmas bookings. This September, some hotels are already fully booked for the holiday season. People are reserving their Christmas vacations earlier this year, despite an unsettling rise in Covid-19 infections caused by the highly contagious delta variant.
Drew Angerer | Getty Images News | Getty Images Democrats may scuttle tactics used by the rich to pass wealth to heirs with little to no tax, part of a broader plan to raise money for an expansion of the U.S. safety net. Specifically, the party is considering disallowing some complex trust-planning techniques used by
Affirm Holdings Inc. website home screen on a laptop computer in an arranged photograph taken in Little Falls, New Jersey, U.S., on Wednesday, Dec. 9, 2020. Gabby Jones | Bloomberg | Getty Images Affirm reported better-than-expected fiscal fourth-quarter results after the bell on Thursday, including solid guidance and 71% revenue growth. The stock soared more
In this article DIS 6758.T-JP (L-R) Richard Madden, Kumail Nanjiani, Lauren Ridloff, Salma Hayek, Lia McHugh, Don Lee, Angelina Jolie, and Barry Keoghan of ‘The Eternals’ took part today in the Walt Disney Studios presentation at Disney’s D23 EXPO 2019 in Anaheim, Calif. Jesse Grant | Getty Images Entertainment | Getty Images The rest of
courtneyk | E+ | Getty Images The end of eviction protections combined with the snail-paced distribution of federal rental assistance means that the struggles for renters aren’t going away anytime soon. More than 6 million households remain behind on rent payments, a figure that has only worsened of late, despite an unprecedented allocation of funding
Sometimes an investment is too good to be true. As Elizabeth Holmes, founder and former CEO of Theranos, goes on trial on allegations of defrauding investors and patients, her health-care start-up may be a prime example. Nearly a decade ago, investors, including media mogul Rupert Murdoch, former Education Secretary Betsy DeVos and the Walton family
Brian Moynihan, chairman and chief executive officer of Bank of America Corp, speaks in New York City, September 25, 2019. Shannon Stapleton | Reuters Bank of America CEO Brian Moynihan announced the most sweeping management overhaul of his 12-year tenure atop the giant financial institution. In a memo distributed to employees on Friday, Moynihan named
Since retiring from the NBA in 2011, Shaquille O’Neal has reportedly amassed a net worth of more than $400 million. But the Basketball Hall of Famer says he’s steering clear of one popular investing strategy: cryptocurrencies. “I don’t understand it,” O’Neal tells CNBC Make It. “So I will probably stay away from it until I
A Mastercard debit card from U.K. digital bank Monzo. Monzo LONDON — Monzo and Revolut, two of Britain’s best-known financial technology firms, are planning to enter the booming “buy now, pay later” industry. Buy now, pay later, or BNPL, plans are an increasingly popular method of payment that lets users spread the cost of their
A man wears an ‘UNVACCINATED’ t-shirt ahead of U.S. President Donald Trump’s “Save America” rally at York Family Farms on August 21, 2021 in Cullman, Alabama. Chip Somodevilla | Getty Images Americans who are unvaccinated against Covid-19 are largely driven by a mistrust of the government and fears over vaccine side effects, and there is
Trevor Williams | DigitalVision | Getty Images If you’re like most people, you probably assume you know more than you think you do, even if you don’t realize it. That false sense of security allows us to be decisive in the face of great uncertainties. But when it comes to investing, that can backfire, according
mediaphotos | E+ | Getty Images As our elected officials debate how best to address a national debt approaching $30 trillion while simultaneously increasing spending levels and addressing wealth inequality, it should not be surprising that tax policy is at the forefront of the discussion In that context, there has been an especially intense focus
In this article RKLB An Electron rocket gets ready to launch. Rocket Lab Rocket Lab signed a five-launch contract with European satellite data company Kinéis, in a deal that adds to the space company’s backlog. Kinéis is building an Internet of Things connectivity constellation with 25 satellites, all of which will be launched to orbit
Elizabeth Holmes, founder of Theranos Inc., left, arrives at federal court in San Jose, California, on Tuesday, Aug. 31, 2021. David Paul Morris | Bloomberg | Getty Images The fraud trial of former Theranos CEO Elizabeth Holmes came to a grinding halt when a juror disclosed to the court that he had been potentially exposed
The semiconductor shortage is affecting consumers’ ability to buy cars, smartphones and virtually all electronics — and there may be little relief in sight. According to economist John Rutledge, the Covid-19 pandemic will continue to inflict pain on the global supply chain and contribute to the semi logjam into 2023. “The nature of epidemics is
In this article LULU Lululemon shares surged more than 13% in extended trading Wednesday after the athletic apparel maker reported fiscal second-quarter profit and revenue that topped analysts’ expectations. Consumers are shopping Lululemon stores and the company’s website for its sports bras, jogger pants and leggings for their stay-at-home wardrobes. But many are also seeking
Dr. Ashish Jha, the dean of Brown University’s School of Public Health, applauded President Joe Biden‘s push to increase vaccine mandates covering millions of U.S. workers. “People don’t want to change jobs, people don’t want to be inconvenienced,” said Jha on CNBC’s “The News with Shepard Smith.” “I do think a vast majority of people
Getty Images There has been a recent flood of “math error” notices from the IRS, which have been confusing for taxpayers and difficult to resolve, financial experts say. The IRS sent roughly 9 million such alerts from Jan. 1 through July 15, up from 628,997 in the same period last year, according to Taxpayer Advocate
JGI/Jamie Grill It appears most workers have to wait years for a company’s 401(k) matching contributions to become entirely theirs. The majority (82%) of employers that offer traditional 401(k) plans say they match a portion of their workers’ account contributions, according to a report from human resources firm XpertHR. However, the research shows that just
Varo Money’s mobile banking application. Varo Bank has more than tripled its valuation after gaining a national banking charter last year, CNBC has learned. The company is set to announce Thursday that it raised $510 million in a Series E round led by hedge fund Lone Pine Capital and including dozens of new and existing
Sotheby’s Art Auction: Mark Rothko’s #7 (L), and Andy Warhol’s Nine Marilyns (R). Courtesy: Sotheby’s After years of legal wrangling and Covid delays, the storied art collection of real estate tycoon Harry Macklowe and his ex-wife, Linda, is headed for auction at Sotheby’s, and could fetch more than $600 million. The collection, which includes prized
In this article MA The MasterCard logo on a smartphone arranged in Saint Thomas, Virgin Islands. Gabby Jones | Bloomberg | Getty Images Mastercard has agreed to acquire blockchain analytics start-up CipherTrace, in the latest sign of how major companies are warming to cryptocurrencies. The payments giant said Thursday it entered into an agreement to
People walk by a GameStop store in Brooklyn on January 28, 2021 in New York City. Spencer Platt | Getty Images News | Getty Images Video game retailer GameStop said Wednesday its fiscal second-quarter losses narrowed as sales rose from a year ago. Shares of the company fell about 2% in extended trading. For the
In this article FB EL-FR Facebook’s Ray-Ban Stories glasses can take photos and videos through cameras at each corner of the device’s frames. Courtesy of Ashley Bogdan Facebook on Thursday unveiled its long-awaited collaboration with Luxottica: Ray-Ban Stories smart glasses. The glasses, which start at $299, let users take photos and record videos with voice
Towfiqu Photography If you inherit a retirement account, you may want to pause before making any decisions on when and how to access the money. Basically, the rules that apply depend on your relationship to the person who died. Mistakes can be made, and depending on the specifics, they can be hard to undo. The
Thomas Barwick When it comes to income in retirement, one looming question confronts most individuals: How much money is enough? While the answer to that question in never black-and-white, recent headlines about the solvency of Social Security could be injecting more fear into that dilemma. Last week, the Social Security Administration released its annual trustees
Health conscious American millennials have found their drink of choice: alcoholic carbonated water that is lower in calories and carbs than beer and wine. A hard seltzer craze is sweeping the United States as Generation Y and Generation Z pursue healthier lifestyles, influenced by viral trends on Instagram and YouTube. TIMOTHY A. CLARY | AFP
Prosecutors called Theranos founder and CEO Elizabeth Holmes a liar and a cheat on Wednesday while her attorneys argued that the company’s failure was not a crime. “Out of time, out of money, Elizabeth Holmes decided to lie,” Robert Leach, an assistant U.S. attorney, said while laying out the case that Theranos ran out of