Author: Press Room
Senators Kevin Cramer and John Thune, Republicans who represent Dakota, North and South respectively, have introduced the Death Tax Repeal Act of 2023. This is not a new thing. I think the origination of the term “death tax” is a little murky but much credit for its adaptation as a GOP talking point goes to communication consultant Frank Luntz. Representative Wes Watkins of Oklahoma celebrated his conversion to Republican by sponsoring a Death Tax Repeal Act in 1997 and there are numerous subsequent submittals. The Death Tax Repeal Act would repeal the estate and generation skipping tax, but leave the…
A New Jersey beach town is literally dropping hints in the search for summer workers. Morey’s Piers and Beachfront Water Parks, located in Wildwood, has about 800 out of 1,500 summer positions up for grabs but are attracting applicants with an ironically not-so-crappy advertising campaign: seagull poop stickers.”Back when I first started working here, there was a waiting list to get a job, and now it’s hard to fill the roster,” Morey’s Piers human resources vice president Denise Beckson told FOX Business’ Jeff Flock on “Mornings with Maria” Wednesday. “There’s so much competition right now for our workforce, that we…
WASHINGTON — House Speaker Kevin McCarthy, R-Calif., on Wednesday released his plan to raise the debt ceiling by $1.5 trillion for about a year while attempting to repeal major components of President Joe Biden’s agenda.McCarthy said the bill, called the Limit, Save, Grow Act of 2023, would save American taxpayers more than $4.5 trillion by limiting discretionary spending, retrieving unspent pandemic-related funds, eliminating Biden’s student loan forgiveness plan and cutting funds earmarked for the Internal Revenue Service.The cuts would be in exchange for a one-year debt ceiling increase. McCarthy called on Biden and Senate Majority Leader Chuck Schumer, D-N.Y., to…
Check out the companies making headlines after the bell.Tesla — Shares slid 3.6% after the electric vehicle maker said income and GAAP earnings tumbled more than 20% from the same quarter a year ago. Adjusted earnings per share were in line with Refinitiv’s consensus estimate, while revenue was ahead of expectations at $23.33 billion compared with the expected $23.21 billion. Competitor Rivian was down 0.7% following news that the company has increased and extended its credit facility. Lucid, which is focused on luxury electric vehicles, slipped 0.1% after hours.Las Vegas Sands — The stock rose 4.3% after the casino and…
Snapchat is about to give new meaning to the “chat” part of its name. Snap, the company behind Snapchat, announced on Wednesday that its customizable My AI chatbot, is now accessible to all users within the app. The feature, which is powered by the viral AI chatbot ChatGPT, was previously only available to paying Snapchat+ subscribers. The tool offers recommendations, answers questions, helps users make plans and can write a haiku in seconds, according to the company. It can be brought into conversation with friends when it’s mentioned with “@MyAI.” Users can also give it a name and design a…
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Bitcoin (BTC) is down sharply on Wednesday, with analysts citing a massive sell order on the world’s largest crypto exchange Binance and hotter-than-expected UK inflation data as weighing on the price action.BTC/USD was last changing hands almost bang on the $29,000 level, nursing losses of around 4.5% on the day, putting the cryptocurrency on course for its worst one-day performance since the 9th of March.Despite this, liquidations of leveraged long positions in Bitcoin futures remain relatively contained at just over $40 million, as per coinglass.That’s not even the highest this month, suggesting the latest move lower hasn’t triggered much of…
Welcome back! Dan DeFrancesco in NYC. Today, we’ve got stories on what the Wall Street CEOs are saying about the banking crisis, Goldman’s push to simplify options trading, and why the way you clean is totally wrong.But first, I’m going to Miami. If this was forwarded to you, sign up here. Download Insider’s app here.1. Millennium’s big tech push. Come for the sun, stay for the tech. Wall Street firms that made the migration to Florida are settling into their new digs, and one top hedge fund is already laying the foundation for what it hopes can become a pipeline of tech talent.Insider’s…
October, 2021: Netflix faces its most public controversy yet, after some employees speak out against Dave Chappelle’s Netflix special, “The Closer,” in which he makes comments many criticized as transphobic. Chappelle said in the special that “gender is a fact” and defended “Harry Potter” author J.K. Rowling, who came under fire for past transphobic comments.Sarandos defended Chappelle in a memo to employees, saying in part: “Chappelle is one of the most popular stand-up comedians today, and we have a long standing deal with him. His last special, ‘Sticks & Stones,’ also controversial, is our most watched, stickiest, and most award…
UK car insurance prices have risen a fifth in the past year and are now at their highest since 2011, as insurers demand higher premiums to cope with surging inflation in the cost of claims. The average policy now stands at £657, according to first-quarter figures from comparison website Confused.com, in partnership with insurance broker Willis Towers Watson. The index is based on quotes provided by insurers.Young drivers are being hit with especially high increases, with 17-year-olds having to pay £446 more than they did a year earlier, taking a typical annual policy for this cohort to £1,612. “For drivers who’ve bought policies already this year,…
