Inflation edged higher in July, according to a measure favored by the Federal Reserve as the central bank prepares to enact its first interest rate reduction in more than four years.The Commerce Department reported Friday that the personal consumption expenditures price index rose 0.2% on the month and was up 2.5% from the same period a year ago, exactly in line with the Dow Jones consensus estimates.Excluding volatile food and energy prices, core PCE also increased 0.2% for the month but was up 2.6% from a year ago. The 12-month figure was slightly softer than the 2.7% estimate.Fed officials tend…
Author: usaeverydaylife
Danny Werfel, IRS commissioner, speaks after being ceremonially sworn in at the IRS headquarters in Washington on April 4, 2023.Ting Shen | Bloomberg | Getty ImagesThe IRS will deny billions of dollars’ worth of claims for a pandemic-era tax break while working to process lower-risk filings, the agency said on Thursday afternoon.Enacted to support small businesses during the Covid-19 pandemic, the employee retention credit, or ERC, is worth thousands of dollars per eligible employee. However, the agency stopped processing new filings in September amid a surge of “questionable claims,” the IRS said in a news release.The agency added that it…
Democratic presidential nominee Kamala Harris in a new interview Thursday defended her vice presidential record on immigration and blamed her Republican rival Donald Trump for killing a bipartisan bill aimed to address the U.S.-Mexico border.Harris said her work to address the root causes of U.S. migration from the so-called Northern Triangle “has actually resulted in a number of benefits, including historic investments by American businesses in that region.””The number of immigrants coming from that region has actually reduced since we began that work,” she told CNN anchor Dana Bash in her first sit-down interview since becoming the Democratic nominee.Harris said…
Despite post-pandemic return-to-office mandates, remote work persists and and has even helped to reshape cities across the world. Still, some countries are more welcoming to digital nomads than others.Recently, the experts at Global Citizen Solutions released its annual Global Digital Nomad Report, ranking the best countries for digital nomads in 2024. The report looked at 65 countries that identify as the most accommodating countries and jurisdictions for digital nomads.To rank the countries, the report analyzed 12 key indicators that were assigned across the following five sub-indexes:Visa costsVisa benefitsQuality of lifeEconomic environmentTech and innovationLaura Madrid Sartoretto, lead researcher at Global Solutions Intelligence Unit, tells CNBC Make…
Grace Cary | Moment | Getty ImagesTravelers, be warned: The federal government may revoke your passport if you ignore a big tax bill.Such punishments have become more frequent in recent years, experts said.Federal law requires the IRS and Treasury Department to notify the State Department if an American has a “seriously delinquent tax debt.”This is a large federal debt — of more than $62,000 in 2024 — that the taxpayer has repeatedly ignored.The debt threshold includes aggregate total federal tax liabilities, plus penalties and interest, levied against an individual. It’s adjusted annually for inflation.The State Department generally won’t issue a…
Michael Dell at the Allen & Company Sun Valley Conference on July 12, 2024 in Sun Valley, Idaho. David Grogan | CNBC Dell reported quarterly results on Thursday that beat Wall Street expectations, powered by an 80% increase in server sales. The stock rose more than 3% in extended trading.Here’s how the company did for the fiscal second quarter versus LSEG consensus estimates:Revenue: $25.03 billion vs. $24.53 billion expectedEPS: $1.89 adjusted, vs. $1.71 expectedNet income climbed 85% to $841 million, or $1.17 per share, from $455 million, or 63 cents per share, in the year-ago period. Revenue increased about 9% from $22.93…
By Shams Charania, Marcus Thompson II and Mark PuleoThe end of Steph Curry’s contract with the Golden State Warriors got farther away Thursday, as the star guard agreed to a one-year extension worth $62.6 million to keep him with the team he’s won four titles with through the 2026-27 season, a league source confirmed.With the new extension, Curry has $178 million left on his contract, according to data from Spotrac.The two-time MVP will turn 37 on March 14 but has maintained his All-NBA level production, averaging 26.4 points last season in 74 games and shooting above 40 percent from 3…
The lounge-turned-meeting-room inside Maryland’s SECU Stadium is buzzing on a November Friday morning. The “Big Noon Kickoff” crew is in the middle of a production meeting, and there are many moving parts:Michigan, the team the Fox pregame show is following, is in the middle of a sign-stealing scandal ahead of the Ohio State game the following week. Analyst and former coach Urban Meyer has just been made aware a fake quote from him about Ohio State coach Ryan Day is circulating. And a rehearsal is coming within the hour.Mark Ingram II sits inside the circle of on-air talent and producers,…
If you have visited Barcelona recently, you might have noticed something unusual going on.Since the early summer, central hotspots such as La Rambla and neighbourhoods such as Gracia and Parc Guell have featured graffiti with the words “Tourists go home”. It’s all part of the same picture. Barcelona locals have been protesting against mass tourism.On July 6, a demonstration was held in which (according to organisers) between 10,000 and 15,000 people took to the streets (police estimates put the figure at around 3,000). Some even targeted individual tourists, spraying them with water pistols as they drank coffee or ate lunch…
In the latest episode of “Fansville,” Deputy Quinn Ewers is urged to call for backup but resists. After a brief exchange with his fellow officer, Texas’ third-year starting quarterback delivers the punchline.“We don’t need any backup, even if he has great hair and famous relatives,” Ewers said.The allusion to Arch Manning is both an amusing moment and clever writing in Ewers’ national Dr Pepper commercial. But it also hints at the unique dynamic at Texas. Ewers, the former No. 1 recruit in America, is one of the most well-known names in the sport, a Heisman Trophy candidate who took the Longhorns…
