A view of the US Capitol in Washington, DC, on June 30, 2025.Jim Watson | Afp | Getty ImagesThe wealthy will likely see a host of new tax breaks in President Donald Trump’s “big beautiful bill,” along with permanent extensions of many of the 2017 tax cuts, according to tax experts.Taxpayers earning $1 million or more are expected to see a boost in after-tax income of about 3% in the Senate version of Trump’s bill, according to the Tax Policy Center. That compares with the nationwide average of about 2.5%. In dollar terms, millionaire earners will see an average after-tax…
Author: usaeverydaylife
A general view of the SEBI (Securities and Exchange Board of India) building is seen in the business district of Mumbai, India, on July 1, 2025.Nurphoto | Nurphoto | Getty ImagesThe Securities Exchange Board of India (SEBI) has barred Jane Street Group from accessing India’s securities market, according to an order posted on the regulator’s website on Friday.The order stated that the U.S. trading firm’s “entities are restrained from accessing the securities market and are further prohibited from buying, selling or otherwise dealing in securities, directly or indirectly.”The regulator also issued an interim order to impound over 48.4 billion Indian…
The U.S. told GE Aerospace on Thursday that it can restart jet engine shipments to China’s COMAC, in a further sign of de-escalating U.S.-Sino trade tensions. (Photo by Jakub Porzycki/NurPhoto via Getty Images)Nurphoto | Nurphoto | Getty ImagesThe U.S. told GE Aerospace Thursday that it can restart jet engine shipments to China’s COMAC, according to a person familiar with the matter, in a further sign of de-escalating U.S.-Sino trade tensions that included concessions from Beijing over rare earths.The United States this week also lifted restrictions on exports to China for chip design software developers and ethane producers, suggesting trade talks between the two countries are moving forward.License suspensions and new license…
A hiring sign on a Taco Bell window on June 25, 2025 in Austin, Texas, U.S.Brandon Bell | Getty Images News | Getty Images There’s a scene in the cinematic masterpiece Mean Girls in which a character writes in big bloody script: “DO NOT TRUST HER.”Apologies in advance to the good folks at ADP, who I’m sure are doing good work processing private payrolls. But we might want to keep in mind the above warning when assessing the monthly ADP jobs report. Official labor numbers from the U.S. Bureau of Labor Statistics showed a higher-than-expected increase of147,000 jobs in June. The…
The skyline of Yokohama with the Landmark Tower, Queen’s Square and the ferries wheel with the Aka-Rengo Soko warehouse on a beautiful day.Juergen Sack | E+ | Getty ImagesAsia-Pacific markets traded mixed Friday after Wall Street gained on a better-than-expected jobs report eased investors’ concerns of a slowdown in the U.S. economy.Japan’s Nikkei 225 benchmark was flat in choppy trade while the broader Topix index added 0.15%.In South Korea, the Kospi index fell 0.56% while the small-cap Kosdaq declined by 0.8%.Over in Australia, the S&P/ASX 200 moved up 0.21%.Futures for Hong Kong’s Hang Seng index stood at 23,991, pointing to a lower open compared to the HSI’s…
Microsoft CEO Satya Nadella speaks at the Axel Springer building in Berlin on Oct. 17, 2023. He received the annual Axel Springer Award.Ben Kriemann | Getty ImagesAmong the thousands of Microsoft employees who lost their jobs in the cutbacks announced this week were 830 staffers in the company’s home state of Washington.Nearly a dozen game design workers in the state were part of the layoffs, along with three audio designers, two mechanical engineers, one optical engineer and one lab technician, according to a document Microsoft submitted to Washington employment officials.There were also five individual contributors and one manager at the…
House Republicans on Thursday voted to pass President Donald Trump’s massive budget bill, making good on a promise to deliver the legislation to the president’s desk by July 4.The bill promises continuity for taxpayers by permanently extending the cuts from the 2017 Tax Cuts and Jobs Act as well as a raft of new cuts, including breaks for tipped and overtime income.The new law also includes a throwback: an above-the-line deduction on charitable contributions.The bill allows taxpayers who don’t itemize to deduct up to $1,000 for single filers and $2,000 for married couples filing jointly.”This could provide some tax savings…
Ilya Sutskever, co-founder and chief scientist of OpenAI, speaks at Tel Aviv University in Tel Aviv, Israel, June 5, 2023.Jack Guez | AFP | Getty ImagesOpenAI co-founder Ilya Sutskever said he will assume the CEO role at Safe Superintelligence, the artificial intelligence startup he launched last year.Sutskever’s announcement on Thursday comes after Meta poached Daniel Gross, a longtime entrepreneur and AI investor who had been CEO of Safe Superintelligence.In a post on X, Sutskever said Gross’ time at the company has been “winding down,” and that his last day was June 29. Safe Superintelligence co-founder Daniel Levy will now serve as…
In her late 20s, Aleese Lightyear worked in reality TV production and lived in New York City, which she thought was her dream.”At the height of my career in New York, I was probably making $100,000 a year [and] working eight months out of the year, which on paper sounds great, but New York City is one of the world’s most expensive cities, so that $100,000 went extremely fast,” Lightyear tells CNBC Make It.”I was spending all of my money going out and buying clothes so that I could be trendy and feel like I was living in the ‘Sex…
The Grok logo is being displayed on a smartphone with Xai visible in the background in this photo illustration on April 1, 2024. Jonathan Raa | Nurphoto | Getty ImagesElon Musk’s xAI attained an official permit to power its supercomputer facility in Memphis, Tennessee, using natural gas-burning turbines, according to public records shared by the company on Wednesday.The Shelby County Health Department issued the permits on July 2, despite months of protests and public hearings where local residents decried the turbines’ impact on local air quality. Musk’s artificial intelligence startup, which now owns his social media site X, will face formal emissions…
