Tag: industrial news

Need to report bitcoin trades on your taxes? Here are 5 things to know first

Treasury Department Secretary Janet Yellen is not big on bitcoin, a point she reiterated recently when she called the digital currency speculative and “inefficient.” That...

Philanthropy is a ‘PR scam,’ says CEO who raised his workers’ minimum pay to $70,000

He’s not buying what America’s billionaires are selling. The CEO known for increasing his employees’ base pay to $70,000 says wealthy people donating their money...

Worldwide chip shortage expected to last into next year, and that’s good news for semiconductor stocks

A global shortage of semiconductors has pushed chip stocks to record highs, and analysts expect that chips will continue to be in short supply at...

Some 730,000 Walmart employees won’t be getting $15 an hour pay — they’re hardly alone

Walmart WMT, +0.49% has joined a growing list of retailers boosting employees’ wages to $15 an hour, but unlike rivals such as Target TGT, -1.35%,...

Houston mayor says Texas should pay some consumers’ massive utility bills

Houston Mayor Sylvester Turner said Sunday that the state of Texas should pay the massive utility bills some Texas consumers are facing following last week’s...

State attorneys general call on Biden to cancel up to $50,000 in student debt to provide ‘immediate relief to millions’

A multistate coalition of Democratic attorneys general is calling on President Joe Biden to cancel up to $50,000 in student debt per borrower.  The letter...

Only 50 people are known to have contracted COVID-19 more than once — but new strains have medical experts on high alert

It’s very rare for someone to get infected with the coronavirus causing the disease COVID-19 a second time, but the few confirmed cases of reinfection...

The rational bubble is turning irrational — and the next few weeks are critical, strategist says

The action this week has been centered on the bond market, not the stock market, as Treasury yields have climbed in reaction to the progress...

Philadelphia relies on a commuter tax to balance its budget. What does that mean in a work-from-home world?

Jon Dumont has walked through Philadelphia’s Center City district to and from his office for years, passing familiar businesses and friendly faces. But the experience...

GameStop hearing challenges assumptions about rookie investors — ‘Retail investors making up this new surge are different’

YOLO? Maybe not quite so. During the GameStop trading frenzy, some observers worried many rookie retail investors banding together on sites like Reddit’s WallStreetBets would...

IRS chief says agency is having ’15 minutes of fame’ — here’s how he’s hoping to make the most of it

“ I think we’re living in our 15 minutes of fame. And I think we’re living in, for us, a bipartisan environment. ” — Internal...

Apple stock breaks below post-COVID uptrend line after largest shareholders disclose share sales

Shares of Apple Inc. sank to a one-month low Wednesday, and broke below two key chart levels in the process, after the technology behemoth’s two...

We were ‘dangerously close’ to collapse of ‘entire system,’ says Interactive Brokers founder ahead of GameStop hearing

“ ‘What I would like to point out here is that we have come dangerously close to the collapse of the entire system, and the...

Ford accelerates toward an all-electric future in Europe, as part of its $22 billion EV investment

Ford is the latest automobile maker to announce ambitious new targets to switch to all-electric production of its cars by 2030 in Europe. The U.S....

Nearly half of MyTheresa customers in the U.S. and Germany spend tens of thousands on luxury goods annually: Cowen

Cowen analysts conducted a survey of customers in the U.S. and Germany who shop on luxury e-commerce site MyTheresa, finding that about 45% typically spend...

Fewer older workers file employee compensation claims in states where marijuana is legalized

In the ongoing debate over marijuana’s full legalization, a new study offers proponents this potential payoff: cheaper workers’ compensation claims for injured workers. In states...

Dow logs record as cold snap lifts energy stocks, and rise in yields buoys banks

The Dow industrials eked out a record gain, but the other main equity benchmarks limped lower, as progress toward President Joe Biden’s $1.9 trillion coronavirus...

Regulator objects to $9.2 billion sale of eBay arm in the latest move to protect online competition

In the latest move from regulators to protect competition in online marketplaces, the U.K.’s Competition and Markets Authority, or CMA, has objected to the sale...

Europe joins Wall Street’s boom in ‘blank-check’ companies

It’s the monster trend on Wall Street. Now it’s crossed the Atlantic. LVMH MC, -0.34% founder Bernard Arnault and former UniCredit UCG, -0.09% chief Jean-Pierre...

Last-minute strategies for lowering your 2020 business tax bill

Although 2020 is history (thankfully), business taxpayers can still take actions that will lower last year’s federal income tax liability and/or federal income tax liabilities...

Turned 60 last year? Social Security has an unpleasant surprise for you

Future Social Security benefits could drop for people who turned 60 in 2020, analysts said, but the extent of the decline is still unknown.  There...

Uber rides recovering and delivery bookings rise 128%, but revenue misses expectations

Uber Technologies Inc. on Wednesday reported fourth-quarter and full-year results that showed a continued recovery from the effects of the coronavirus pandemic, but it continued...

Archer Aviation gets a $1 billion order from United Airlines, on the same day it announces a deal to go public

Archer Aviation Inc. said Wednesday that United Airlines Holdings Inc. placed a $1 billion order for its all-electric vertical take-off and landing aircraft (eVTOL), on...

Lyft shares surge nearly 11% as it posts narrower-than-expected full-year loss and signals optimism over rides

Lyft Inc. on Tuesday reported fourth-quarter results that showed there was a continued rebound in ride-hailing, but it was marred by an increase in COVID-19...

Robinhood sued by family of young trader who killed himself

The family of a 20-year-old trader who killed himself after seeing a massive negative balance in his account sued online brokerage Robinhood for wrongful death...