Cunaplus_M.Faba | iStock | Getty Images The government will pay for laid-off workers to maintain their employer-sponsored health insurance through September, thanks to a provision in the $1.9 trillion stimulus package signed into law on Thursday by President Joe Biden. As part of the relief bill, the government will subsidize COBRA premiums for former workers
Month: March 2021
Warren Buffett. Gerald Miller | CNBC Warren Buffett‘s net worth topped $100 billion for the first time as Berkshire Hathaway shares rallied to record highs. Berkshire’s Class A shares closed at a record high of $399,650 on Wednesday, bringing its 2021 advance to more than 14%. That put the “Oracle of Omaha” massive stake in
In building her multimillion-dollar business, Whitney Wolfe Herd, founder and CEO of Bumble, once took inspiration from another successful executive: Jeff Bezos. Herd sometimes watched videos of Bezos speaking, and in one, “he said something I will never forget and I agree with 1,000%,” she told CNBC Make It in 2019. The gist was that “when humans can
Ungureanu Vadim | EyeEm | Getty Images Student loan forgiveness is now tax-free, thanks to a provision included in the $1.9 trillion federal coronavirus stimulus package that President Joe Biden signed into law on Thursday. Formerly, any student loan debt canceled by the government was considered taxable and levied at the borrower’s normal income tax
Rafael Henrique | LightRocket | Getty Images Poshmark‘s revenue topped analysts’ estimates, in its first financial report since going public in January. But the online seller of secondhand clothing issued a weaker-than-expected sales outlook for the current quarter. Poshmark’s stock tumbled more than 6% in after-hours trading. Founder and Chief Executive Manish Chandra said in
The Nike logo is seen on the Nike store on February 22, 2021 in New York City. John Smith | Corbis News | Getty Images Nike has laid out a five-year roadmap to creating a more diverse and inclusive workforce, the company announced Thursday, as corporate America is increasingly being held accountable for their values
Robert Knopes/Education Images/Universal Images Group via Getty Images The $1.9 trillion American Rescue Plan is almost law — meaning additional unemployment benefits for millions of workers should soon be on the way. The Covid relief bill, passed Saturday by the Senate, extends jobless benefits through Labor Day and raises them by $300 a week. The
The headquarters of the US Securities and Exchange Commission (SEC) is seen in Washington, DC, January 28, 2021. Saul Loeb | AFP | Getty Images The Securities and Exchange Commission on Wednesday issued a warning against special purpose acquisition companies backed by celebrities, urging investors to think twice before jumping in. “Celebrity involvement in a
Micronesia has confirmed only one case of Covid-19 to date. The Polynesian island of Samoa and the South Pacific island of Vanuatu have just three cases each. Sounds like safe travel choices? There’s just one problem — none are allowing in tourists. Many islands that opened to tourists during the pandemic experienced rising coronavirus infection
A Model Y vehicle displayed at a Tesla flagship store on Jan. 4, 2021 in Shanghai, China. Gao Yuwen | Visual China Group | Getty Images BEIJING — Tesla‘s Model Y is getting off to a solid start in China, less than three months since deliveries began. The mid-size SUV was the third best-selling electric
US President Joe Biden speaks on the production of the Covid-19 vaccine in the South Court Auditorium, next to the White House, in Washington, DC, on March 10, 2021. Mandel Ngan | AFP | Getty Images President Joe Biden said he will announce the “next phase” of the U.S. Covid-19 response during his primetime address
Ika84 | E+ | Getty Images Private health insurance through the nation’s public exchanges is set to become more affordable — at least for a couple of years. The $1.9 trillion Covid relief package, which received final congressional approval Wednesday and will soon head to President Joe Biden for his signature, includes provisions that will
Getty Images Between stimulus checks and expanded tax credits in the latest Covid-relief package, most U.S. households are poised to get some extra cash. The amount? An average of $3,450 for the bottom 60% of earners ($65,000 or less), according to research from the Institute on Taxation and Economic Policy. The number reflects direct stimulus
Pavlo Gonchar | LightRocket | Getty Images Retail investors are continuing to jump into the market in droves even after the dust has settled from the GameStop trading saga. The major online brokers continue to see elevated app downloads, well above levels from last year, according to JMP Securities using SimilarWeb app download data. Millennial-favored
Kevin O’Leary, investor on ABC’s “Shark Tank,” is known for being blunt – even when it seems harsh. And it stems from something he learned from his mother, Georgette. “It’s easy to lie to people because you want to keep them feeling good. You don’t want to tell them the truth,” O’Leary tells CNBC Make
Ting Shen/Xinhua via Getty Images The IRS will be able to send money electronically for taxpayers who filed returns with direct deposit or bank account information. The government will send paper checks or debit cards to those households for which Treasury cannot determine a bank account. The IRS will use information on 2020 tax returns
Cure Hydration founder and CEO Lauren Picasso had to come up creative ways to get the company’s fruit-flavored products into shoppers’ baskets because of the pandemic. Cure Hydration Cure Hydration’s lucky break came at a strange time. Walmart, CVS and Amazon-owned Whole Foods began carrying the start-up’s fruit-flavored hydration powder during the pandemic. Yet boxes
Steven Heap/EyeEm/Getty Images The latest version of the $1.9 trillion federal coronavirus relief package could save millions of people who lost work due to the pandemic from a surprise tax bill. On Saturday, the Senate passed a version of the Covid bill that included a provision to waive taxes on the first $10,200 in unemployment
People are seen lining up at a Covid-19 testing site at Mona Vale Hospital on Dec. 18, 2020 in Sydney, Australia. Jenny Evans | Getty Images News | Getty Images Morgan Stanley is bullish on Australia, India and Singapore. The three countries stand out among those in Asia-Pacific that have handled the coronavirus pandemic well,
VioletaStoimenova | E+ | Getty Images Out of sight, out of mind. For many people, that’s how their employer-offered 401(k) plan works. The employee chooses from a limited menu of investment options and, as long as the account continues a generally upward trajectory, the average investor has no reason to question their investment strategy nor any
The Nasdaq rebound may last shorter than a New York minute. Wharton School finance professor Jeremy Siegel sees near-term trouble, saying the backdrop is dramatically supporting the reopening trade over Big Tech and growth plays. “I’ve been extremely bullish here for nine months,” he told CNBC’s “Trading Nation” on Tuesday. ”This stock market still has a
Katrina Lake, CEO of Stitch Fix Adam Jeffery | CNBC Stitch Fix on Monday reported a narrower-than-expected loss for its latest quarter, but the company missed analysts’ expectations for revenue and outlook as shipping delays and lower customer spend ate into sales. The stock plunged 20% in extended trading. The styling service lowered its revenue
Boeing sold 82 aircraft in February and logged 51 cancellations, marking the first time since November 2019 that monthly sales outpaced scrapped orders. The Covid-19 pandemic continues to weigh on sales of new planes as airlines largely try to conserve cash wherever they can. Some carriers, however, are starting to prepare for a recovery in
Ika84 | E+ | Getty Images It could become more affordable for laid-off workers to keep their employer-sponsored health insurance, thanks to a provision in the Covid relief bill making its way through Congress. As part of the $1.9 trillion stimulus package, the government would pay for former employees to maintain health coverage from their
Supoj Buranaprapapong | Getty Images It’s always nice getting a raise, but it could affect your ability to save for retirement through your 401(k) plan. Highly compensated employees — those making more than $130,000 annually — may not be able to contribute the maximum to their tax-deferred retirement plan if their lower-paid colleagues aren’t diligently
Sen. Pat Toomey told CNBC on Tuesday he welcomes stock-trading apps that make investing seem more approachable, rejecting complaints by some that brokerages like Robinhood have led to the so-called “gamification” of the equity market. The Pennsylvania Republican made the comments on “Squawk Box” ahead of Tuesday morning’s Senate Banking Committee’s hearing on retail investors and
Christine Lagarde, President of the European Central Bank, speaks to the media following a meeting of the ECB governing board. Thomas Lohnes Christine Lagarde, the first woman to head up the European Central Bank, has said she hopes young women today don’t have to experience sexism like she did early on in her career. Lagarde
Daniel Acker/Bloomberg via Getty Images Congress may soon offer a tax break to unemployed Americans. States may not be so generous. The Senate passed a $1.9 trillion Covid relief bill on Saturday that waives tax on up to $10,200 of unemployment benefits per person received in 2020. President Joe Biden is expected to sign the
A Dick’s Sporting Goods store Craig Warga | Bloomberg | Getty Images Dick’s Sporting Goods on Tuesday topped Wall Street’s estimates, as shoppers continued to buy equipment and apparel for outdoor activities and home workouts during the pandemic. Shares plummeted by nearly 9% in premarket trading, however, as the company forecast that sales trends will
Elizabeth Olsen and Paul Bettany star as Wanda Maximoff and Vision in Marvel’s “WandaVision.” Disney Disney+ has topped 100 million global subscribers. On Tuesday Disney CEO Bob Chapek revealed the streaming service surpassed the benchmark in just 16 months since its launch. “The enormous success of Disney+, which has now surpassed 100 million subscribers, has
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