Treasury Secretary Janet Yellen said Wednesday that tariff reductionson Chinese goods may be warranted as the White House tries to cool thehottest inflation in four decades, but said that such cuts are not a“panacea” to runaway consumers prices. While testifying… Read More »Yellen says White House looking to ‘reconfigure’ China tariffs as inflation roars
The stock market has been cratering so far this year — leaving specialpurpose acquisition companies, which buy private firms in order tomake them public without the need for a traditional initial publicoffering, with difficulty finding targets.SPACs, also known as blankcheck… Read More »Wall Street’s blank-check boom has gone bust
Prices for chips and shipping containers have come off peaksCentral bankers are scrambling to snuff out soaring inflation Three of the key supply-side factors driving today’s global inflationlevels have already turned around, meaning relief could be on thehorizon for shoppers… Read More »Inflation Is Poised to Ease According to These Three Key Indicators
More than 8 in 10 Americans believe the state of the nation’s economyis poor or not so good, according to a new Wall Street Journal-NORCpoll. The poll found that just 1 percent of respondents described the U.S.economy as excellent, while… Read More »Americans in a new poll deeply pessimistic about the economy
KEY POINTS Japan has made key advancements in the quantum computer race, Indiahas developed its own strategy for the technology, and debates aresimmering over whether China has surpassed the U.S. on some fronts.Quantum computing will ultimately speed up the computational… Read More »The race toward a new computing technology is heating up — and Asia is jumping on the trend
KEY POINTS Social Security’s combined trust funds are now projected to be able topay scheduled benefits until 2035, a full year later than wasprojected last year.But if nothing is done to shore up the program, just 80% of benefitswill be… Read More »Social Security’s funds have a new, later-projected depletion date of 2035. How Congress may shore up the program
KEY POINTS The IRS is working to boost audit rates for the wealthiest Americans,according to a statement from the agency.While plummeting audits have drawn congressional scrutiny, the numbersdoubled for higher earners over the past seven months, the IRSreported.Still, “resource constraints”… Read More »The IRS is working to increase its audit rates for higher earners
SummaryTesla employed around 100,000 people at end of 2021Musk warned staff on Tuesday to return to the office or leaveU.S. executives sounding increasingly gloomy about the economy SAN FRANCISCO, June 3 (Reuters) – Tesla (TSLA.O) CEO Elon Musk has a“super… Read More »Exclusive: Elon Musk wants to cut 10% of Tesla jobs
BlackRock Inc. Chief Executive Officer Larry Fink said he expectsinflation to remain elevated for several years primarily because ofsnarled global supply chains. “It’s been aggravated by Covid and lockdowns in different parts of theworld,” Fink, 69, said Thursday in a… Read More »Fink Sees Elevated Inflation for Years Amid Supply Shocks
The IRS on Wednesday began its annual “Dirty Dozen” series, warning ofabusive tax transactions and scams, with four schemes the Serviceadvised taxpayers to shun. The four arrangements the IRS described as potentially abusive “arevery much on our enforcement radar screen,”… Read More »Abusive CRATs and Maltese IRAs among ‘Dirty Dozen’ tax scams