Author: Press Room
Investing.com — U.S. stock futures seek direction heading into the final trading day of the week. The briefly touches the 5,000-point mark in intraday trading during the prior session following a bevy of mostly strong corporate earnings. Meanwhile, artificial intelligence-darling OpenAI’s annualized revenues reportedly surpass $2 billion as demand booms for the ChatGPT-maker’s products. 1. Futures search for direction U.S. stock futures sought direction on Friday, as investors assessed a busy week of quarterly corporate results. By 04:56 ET (09:56 GMT), the contract was widely unchanged, had gained 31 points or 0.2%, and had slipped by 19 points or 0.1%. On…
The clock is ticking on the expiration, or sunset, of the 2017 Tax Cuts and Jobs Act, which nearly doubled the lifetime estate and gift tax exemption from its previous levels. For 2024, the exemption stands at $13.61 million per person and $27.22 million for a married couple. However, this is scheduled to revert back to 2017 levels, that may put the exemption amount at around $7.5 million per individual and $14.5 million for a married couple, depending on inflation over the next few years. For high-net-worth families, there are financial planning strategies to take advantage of today before the…
A mega-yacht seized by U.S. authorities from a Russian oligarch is costing the government nearly $1 million a month to maintain, according to new court filings.The U.S. Department of Justice is seeking permission to sell a 348-foot yacht called Amadea, which it seized in 2022, alleging that it was owned by sanctioned Russian billionaire Suleiman Kerimov. The government said it wants to sell the $230 million yacht due to the “excessive costs” of maintenance and crew, which it said could total $922,000 a month.”It is excessive for taxpayers to pay nearly a million dollars per month to maintain the Amadea…
[The stream is slated to start at 10 a.m. ET. Please refresh the page if you do not see a player above at that time.]Federal Reserve Chairman Jerome Powell appears Wednesday before the House Financial Services Committee as part of his congressionally mandated semiannual testimony on Capitol Hill.In prepared remarks, the central bank leader indicated that interest rate cuts are likely this year but not until the Fed gains more confidence that inflation is headed back to its 2% annual goal.”We believe that our policy rate is likely at its peak for this tightening cycle. If the economy evolves broadly…
Starbucks’ Middle East franchisee, Alshaya Group, is cutting thousands of jobs at its coffee shops because of a “challenging” work environment as the chain grapples with boycotts over the brand relating to Israel’s war against Hamas in Gaza. In a statement to CNN, Alshaya said the layoffs are the “result of the continually challenging trading conditions over the last six months” and that it’s “taken the sad and very difficult decision to reduce the number of colleagues” at its Starbucks locations in the Middle East and Northern Africa. The company didn’t specify how many jobs were cut, but Reuters first…
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As the Bitcoin halving is just a month away, the overall crypto market is going through a frenzied bull run. Bitcoin reached its all-time high of $69,000 today; however, the meme coin market has spearheaded the current rally. The meme coin market reached over $50 billion yesterday, more than double the value in two years. Amidst this rally, BONK and BEFE have been two of the most notable meme tokens, recording triple-digit growths in the past few months. So, can these tokens make you a millionaire next month? Let’s take a look at their appeal and price prediction.Why is BEFE…
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The boom in generative AI is giving one of Hollywood’s most seasoned producers pause.Tyler Perry, the billionaire entertainer best known for his “Madea” franchise, had grand ambitions to expand his namesake production studios in Atlanta.The $800 million project would have added 12 sound stages, backlots, sets, and more to the 330-acre property, which already ranks as one of the largest production facilities in the country. But the speed and sophistication of new AI technology, like OpenAI’s new video tool Sora, convinced Perry to reconsider the expansion.”I was in the middle of, and have been planning for the last four years, about…
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