Posts from: Business News
U.S. Consumer Spending Rises, Brexit Casts Shadow on Outlook
U.S. consumer spending rose for a second straight month in May on increased demand for automobiles and other goods, but there are fears Britain’s vote to leave the European Union could hurt confidence and prompt households to cut back on consumption. Despite... (more...)
The Fed Is Now More Likely to Cut Interest Rates Than Raise Them
Wall Street is betting Brexit will change the minds of raising interest rates in the next meeting. The probability of a federal funds rate hike at the Fed’s next three monthly meetings has collapsed to 0%, and traders are assigning a less than 8% chance... (more...)
Baby Boomers- It’s Time to Spend Your 401(k) and IRA – Pay Taxes or Not
A generation crosses a magic finish line and finds the IRS waiting. Here are some tips to minimize the bite. At age 70½, the bill comes due on all those tax-deferred savings accounts we’ve been building, and this week the oldest baby boomers will begin... (more...)
Worldwide Markets Lost More than $2 Trillion
The U.K.’s referendum to leave the European Union was a costly decision in more ways than one. Worldwide markets hemorrhaged more than $2 trillion in paper wealth on Friday according to data from S&P Global, the worst on record. Brexit is the... (more...)
Corporation Tax Reform – Reduction to 20 percent from 35 percent
House Republicans have said for years they want to reform the tax code and now, after much debate, they finally have a consensus plan. GOP lawmakers are set Friday to unveil a tax code rewrite that substantially differs from ideas they’ve... (more...)
Warning for Rising Home Prices
Home prices are crossing the line again. After an epic housing crash, where values plummeted nationally by almost 35 percent, the nation is seeing new highs again. The median price of an existing home sold in May hit a record $239,700, according to the... (more...)