The market is sizzling for home sellers, and President Biden wants to raise taxes on long-term capital gains for people with incomes above $1 million. These two facts make it a good time to focus on the cherished tax break known as the home-sellers’ exemption, both to see how it applies now and how Mr. […]
Warmer weather made Covid-19 workarounds like outdoor dining easier. Photo: David Paul Morris/Bloomberg News If you think the service economy is growing full-bore now, just wait to see what happens next. The Institute for Supply Management on Thursday reported that its index of services activity rose to 64 in May from 62.7 in April, registering […]
Major U.S. stock indexes edged higher Wednesday as concerns around the consequences of a strong economic recovery, marked by inflation, continued to buffet the market. Stocks remained volatile as stocks have struggled to gain traction in recent days. Investors have been torn between whether to plow into growth or value stocks, with the question largely […]
Customers who overdraw their accounts will no longer face a $25 penalty, the bank said Wednesday. The change applies to the roughly 3.6 million checking, savings and money-market accounts at Ally’s online bank. Typically, Ally charged for each day that a customer tried to buy something when their account was more than $10 in the […]
Major U.S. stock indexes finished Tuesday’s session roughly flat after fresh data showed that U.S. manufacturing activity, while expanding, continues to be affected by rising commodities prices, materials shortages and difficulties in the labor market. Stocks climbed after the opening bell to kick off the month of June but later pulled back and gave up […]
West Virginia Gov. Jim Justice said he is personally liable for debt arranged by now-collapsed Greensill Capital, highlighting the pressure his family faces in turning around their sprawling coal-mining operations. The outstanding loans are “a burden on our family beyond belief, and we’ll have to deal with it,” he said. “It’s tough, it is really […]
Three women who are veterans of Japan’s financial industry are setting up a $150 million venture-capital fund with a focus on good governance—an unusual undertaking in the country’s undersized and male-dominated startup market. MPower Partners Fund LP launched on May 31 with money from investors including Dai-ichi Life Insurance Co. 8750 2.24% , Sompo Holdings […]
Legislators slammed banks last week for the money they made from overdraft fees. It turns out, though, that overdraft revenue fell in 2020 for the first time in six years. The reasons? With nowhere to go when Covid-19 hit, many people curbed their spending. Stimulus money helped them pad their bank accounts. And banks were […]
The S&P 500 edged higher in the final trading day of the week, notching a fourth consecutive month of gains. The broad stock-market gauge added 3.23 points, or 0.1%, to 4204.11. The tech-heavy Nasdaq Composite gained 12.46 points, or 0.1%, to 13748.74. The Dow Jones Industrial Average gained 64.81 points, or 0.2%, to 34529.45. The […]
Quest Diagnostics reported a big surge in marijuana use in 2020, with workers in accommodation and food services testing positive at the highest rate. Photo: Getty Images/iStockphoto Americans returning to restaurants might notice that the people serving them are a bit distracted. The most likely explanation is that they are just really busy with a […]
