Author: Press Room

“ If you’re due a tax refund, there’s no penalty for late filing.” America’s annual financial freak-out is nearly here but if you don’t have your 1040s, W2s, 1099s and even your Form 8949 (worthless stocks) ready to go, you may be one of millions of taxpayers who don’t need to burn the midnight oil before the filing deadline of 11:59 p.m. on April 18.  Because, if you’re getting a refund, there’s no penalty for filing your return late.  Taxpayers understandably get nervous about hitting the tax filing deadline, for good reason. If you file late and owe taxes, you’ll…

© Reuters. FILE PHOTO: Walmart’s logo is seen outside one of the stores in Chicago, Illinois, U.S., November 20, 2018. REUTERS/Kamil Krzaczynski (Reuters) – Walmart (NYSE:) Inc U.S. chief merchandising officer Charles Redfield is stepping down after just over a year in the role, according to an internal memo seen by Reuters on Friday, at a time the retailer is navigating a tightening spending environment. Redfield will assume an advisory role supporting the U.S. business effective May 1, Walmart U.S. CEO John Furner wrote in a memo to US-based associates on Friday, without naming a successor. The rejig comes at a…

By Erwin Seba HOUSTON (Reuters) -A slightly below-average 2023 Atlantic hurricane season lies ahead with an El Nino weather phenomenon damping the storm outlook, a top U.S. hurricane forecaster said on Thursday. El Nino, a weather system that forms from warm ocean surface temperatures in the central and eastern Pacific, increases vertical wind shear, lessening or breaking up tropical storms. “If a robust El Niño does not develop, the potential for an active Atlantic hurricane season still exists,” according to the first outlook by Colorado State University (CSU) researchers. The forecasters expect two major hurricanes, or those with wind speeds…

By Peter Nurse Investing.com – The U.S. dollar slipped lower in early European trade Tuesday, handing back some of the overnight gains as healthy Chinese growth data boosted risk sentiment. At 02:05 ET (06:05 GMT), the , which tracks the greenback against a basket of six other currencies, traded 0.1% lower at 101.707, after rising 0.5% overnight. China’s post-COVID recovery appears to be firmly on track, after data released earlier Tuesday showed that the second largest economy in the world in the first quarter year-on-year, beating forecasts for 4% growth, and registering a sharp acceleration from the previous quarter’s 2.9%…

By Leika Kihara WASHINGTON (Reuters) – The Bank of Japan is likely to maintain negative short-term interest rates until inflation durably hits 2%, but could allow long-term yields to move more flexibly around its target, a senior International Monetary Fund official said on Friday. The BOJ must maintain policy loose by keeping the short-term policy rate at -0.1%, a view that is shared by its officials, Ranil Salgado, the IMF’s Japan mission chief, told a media roundtable in Washington. But Salgado said it was important that longer-term bond yields, including the 10-year zone the BOJ targets, are allowed to move…

As the world waits to see if Web3 is more than just a marketing term to pump the blockchain hype cycle, companies like Substack are already pushing the boundaries of community ownership and user empowerment models. Since Substack isn’t launching a cryptocurrency or token, some may question how the publishing platform’s recent crowdfunding campaign relates to Web3. The answer is that Substack is approaching user ownership on democratic principles that blockchain advocates aggressively claim for Web3. Yet Substack is able to do this without involving any blockchain or crypto token, which suggests that the ‘future of Web3’ may simply be…

Venture capital is a highly competitive field that takes a lot of skill, knowledge, and dedication to succeed. In his book, “How to Invest: Masters on the Craft,” David Rubenstein interviewed some of the world’s leading investors and asked them to share practical lessons about what it takes to pursue a successful career in investing and build firms that endure over the long term. The list is long and distinguished, including Larry Fink (Blackrock), Seth Klarman (Baupost), Ray Dalio (Bridgewater), Jim Simmons (Renaissance), Marc Andreessen (Andreessen Horowitz), Michael Moritz (Sequoia Capital), and David Blood (Generation) – and of course David…

Inflation is falling—but is a recession next, or will we get that vaunted “soft landing” Jay Powell keeps talking about? Wouldn’t it be great if there was a dividend-payer built for either outcome? Just such an income play exists—it’s called a covered-call closed-end fund (CEF). They’re smart buys now because they pay big dividends: the CEF we’ll break down today—the Nuveen Dow 30 Dynamic Overwrite Fund (DIAX)—yields a healthy 7.8%. That not only gives us a high income stream, but it also increases our safety, as we’re getting the vast majority of our return in safe dividend cash. That’s one…

Finding the balance between living your best life and paying down debt isn’t easy. But these three spending rules encouraged me to save money and avoid shame spirals from shopping. The 5% Cash Back Challenge People love using credit cards and even feel the fear of missing out on rewards and point programs. The reality is those rewards are designed to encourage more spending, which can contradict your efforts to save money and pay down debt. While many debt-free proponents say you must cut out every unnecessary expense, I found long-term deprivation made my personal finances feel like drudgery. Instead,…

Ernst & Young’s U.S. arm said on Monday it was shedding 5% of its workforce, less than a week after the unit’s objection torpedoed the global accounting giant’s plan to break up its audit and consulting units. The layoffs will affect around 3,000 of the company’s U.S. employees.The decision was taken after assessing the impact of current economic conditions, strong employee retention rates and “overcapacity” in parts of the company, EY U.S. said. ERNST & YOUNG HALTS BREAKUP PLAN AFTER REVOLT BY US LEADERS After months of trying to woo partners, London-based EY last week called off a proposed overhaul…