In response to high oil prices, Sen. Ron Wyden (D-OR) has proposed raising taxes on oil and gas companies in three ways. His “Taxing Big Oil Profiteers Act” would create an additional 21 percent tax on so-called excess profits earned over 10 percent of revenues of oil companies with annual revenues over $1 billion; levy
In this article BKI Home prices declined 0.77% from June to July, the first monthly fall in nearly three years, according to Black Knight, a mortgage software, data and analytics firm. While the drop may seem small, it is the largest single-month decline in prices since January 2011. It is also the second-worst July performance
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PGA Tour Commissioner Jay Monahan speaks during a press conference prior to the TOUR Championship at East Lake Golf Club on August 24, 2022 in Atlanta, Georgia. Cliff Hawkins | Getty Images The PGA Tour on Wednesday announced prize increases, expanded benefits and participation commitments from top players as it faces competition from the upstart
In this article PTON JWN BBBY TOL PDD A man walks in front of a Peloton store in Manhattan on May 05, 2021 in New York. John Smith | Corbis News | Getty Images Check out the companies making headlines in midday trading. Bed Bath & Beyond – Shares of Bed Bath & Beyond surged
Count Bill Gates among the many admirers of Dr. Anthony Fauci, the 81-year-old immunologist who plans to leave the U.S. federal government at the end of the year. Gates, the billionaire Microsoft co-founder and health care philanthropist, took to Twitter on Tuesday to shower Fauci’s longtime tenure as director of the National Institute of Allergy
Twenty/20 If you’re poised to benefit from President Joe Biden‘s up to $20,000 in student loan forgiveness, you may also be wondering if the erased debt will trigger a tax surprise come April. The short answer is: It won’t, at least on your federal tax return. Biden on Wednesday announced that he will forgive $10,000 in
A sign is posted in front of a home for sale on July 14, 2022 in Corte Madera, California. Justin Sullivan | Getty Images Pending home sales, a measure of signed contracts on existing homes, slipped 1% from June to July, according to the National Association of Realtors. Compared with a year ago, sales were
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In this article AMZN Javonte Williams #33 of the Denver Broncos carries the ball against the Cincinnati Bengals at Empower Field At Mile High on December 19, 2021 in Denver, Colorado. Matthew Stockman | Getty Images Amazon‘s Prime Video reached a deal with DirecTV to air its “Thursday Night Football” games in more than 300,000
In this article M Macy’s Herald Square Flagship Department Store in Midtown Manhattan New York. Nicolas Economou | NurPhoto | Getty Images Macy’s on Tuesday cut its full-year forecast, saying it anticipates deteriorating consumer spending on discretionary items like apparel that will force the department store chain to use heavy markdowns to move items off
Indian yoga and mystic Sadhguru, who is followed by celebrities, reveals how being blissful means he never fails. Photo by Esra Bilgin/Anadolu Agency via Getty Images Sadhguru, the yoga master turned social media celebrity with over 8.6 million Instagram followers, says his philosophy is to always feel “blissed out” — adding that adopting this mindset
President Joe Biden could make his announcement on student loan forgiveness as soon as Wednesday, five sources with knowledge of the matter told NBC News. Administration officials repeatedly said the decision would come before the end of August, when monthly loan payments are scheduled to resume after being paused for over two years as part
Just months ago, the housing market remained in overdrive: surging home prices, historically low interest rates and unrelenting demand. However, data now suggests to some experts that the market is in a “housing recession.” For example, sales of existing homes in July fell by 5.9% from June, marking the sixth straight month of a decline
General manager Billy Eppler and Owner Artie Morena look on as Joe Madden speaks to the media during a press conference where he was introduced today as the new manager of the Los Angeles Angels during a press conference at Angel Stadium of Anaheim on October 24, 2019 in Anaheim, California. Jayne Kamin-oncea | Getty
In this article JWN Shoppers leave a Nordstrom store on May 26, 2021 in Chicago, Illinois. Scott Olson | Getty Images News | Getty Images Nordstrom on Tuesday slashed its financial forecast for the full year as the department store chain faces a glut of inventory and slowing demand. The retailer’s lowered forecast came even
Take a look at some of the biggest movers in the premarket: Zoom Video Communications (ZM) – Zoom tumbled 11.5% in the premarket after the videoconferencing company cut its full-year forecast. Zoom reported better-than-expected earnings for its latest quarter, but revenue fell short of forecasts. Zoom’s CFO said the company is having some difficulty attracting
On Monday, Dr. Anthony Fauci announced that he will depart from his positions as President Joe Biden’s chief medical adviser and director of the National Institute of Allergy and Infectious Diseases at the end of the year. The 81-year-old won’t be fully retiring just yet. In his announcement, Fauci didn’t specify his future plans, but
dowell | Moment | Getty Images After nearly eight months of market volatility, many investors still worry about rising interest rates and how those changes affect their portfolio. Some 88% of investors are concerned about rising inflation and interest rates, according to a J.P. Morgan Wealth Management study published Monday, polling more than 2,000 Americans,
In a pattern that has become all too common in recent decades, the newly enacted Inflation Reduction Act (IRA) added yet another layer of tax complexity to an already complex and burdensome federal tax code. While the Inflation Reduction Act increased the Internal Revenue Service (IRS) budget by roughly $80 billion over 10 years, it