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… Read More »The race toward a new computing technology is heating up — and Asia isjumping 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,… 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… 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)… 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,… 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… Read More »Abusive CRATs and Maltese IRAs among ‘Dirty Dozen’ tax scams
KEY POINTS There are two main factors that have Dimon worried: So-calledquantitative tightening, or QT, is scheduled to begin this month andwill ramp up to $95 billion a month in reduced bond holdings.The other large… Read More »Jamie Dimon says ‘brace yourself for an economic hurricane caused by the Fed and Ukraine war
The US private sector added fewer jobs than expected in May as theFederal Reserve ramped up its effort to slow the economy and coolinflation. Private-sector firms added 128,000 payrolls last month, ADP saidThursday in its… Read More »Private businesses added 128,000 jobs in May, marking the smallest gain of the pandemic recovery
The ‘retirement ideal’ has been changing for years. Older people areincreasingly unretiring, changing the shape of this life stage. Picture retirement in your head. It’s a laughing, grey-haired couplesipping piña coladas on a white sand… Read More »Is this the end of retirement as we know it?
The blue-chip S&P 500 stock index ended the month of May with amarginal 0.01 percent gain, following weeks of tumultuous trading asinvestors questioned the trajectory of US inflation, growth, andFederal Reserve policy. Wall Street stocks… Read More »US stocks end volatile May roughly unchanged