Nikola Motor Company Source: Nikola Motor Company JPMorgan is “skeptical” about Nikola finalizing a deal with General Motors to produce an electric pickup truck called the Badger for the embattled vehicle start-up. Instead, JPM analyst Paul Coster expects the two companies to renegotiate a previously announced $2 billion deal without the Badger, focusing on GM
Justin Sullivan | Getty Images JPMorgan Chase agreed Tuesday to pay a $250 million fine after one of its U.S. regulators found a “pattern of misconduct” in its asset and wealth management division. The Office of the Comptroller of the Currency said in a release that the New York-based bank’s risk management controls were “deficient”
The Internal Revenue Service and the Treasury Department issued final regulations related to Section 1031 like-kind exchanges. The new regs address the definition of real property, as well as the receipt of personal property that is incidental to real property received in a like-kind exchange. “Real property” now includes land and, generally speaking, anything permanently
‘Tis the season to shore up your savings. In the days leading up to Black Friday, financial experts caution against overspending, particularly amid an economic crisis due to the coronavirus pandemic — and consumers are listening. One campaign, called “In the Black Friday,” spearheaded by the National Financial Educators Council, encourages consumers to avoid debt
Japanese automaker Nissan has a history of saving itself from the brink of disaster. Right now it is trying to repeat the trick. Like all other automakers, the company is losing money from the coronavirus pandemic. But it’s also trying to recover from some self-inflicted wounds by former Nissan executives, including ex-CEO Carlos Ghosn. Now
Traders work the floor of the New York Stock Exchange. NYSE U.S. stock futures rose slightly on Tuesday night following a banner day for three of the for major market benchmarks. Dow Jones Industrial Average futures traded higher by 21 points, or 0.1%. S&P 500 futures also climbed 0.1% and Nasdaq 100 futures advanced 0.2%.
Neiman Marcus now offers a virtual gift advisor service, and an in-store concierge service, to help customers pick out items on their wish lists. Source: Neiman Marcus Santa Claus will be busy delivering packages curbside, by appointment, at Neiman Marcus this holiday season. This is just one of the new initiatives that the luxury department
With a likely divided U.S. Congress this January, the incoming Biden administration may have a limited ability to pass the tax changes proposed by Biden during the 2020 presidential campaign. Much of Biden’s tax plan included tax increases on higher earners and businesses, which are unlikely to be considered by a likely Republican-controlled Senate pending
Cars line-up as the Los Angeles Regional Food Bank distributes food outside a church in Los Angeles on Nov. 19, 2020. Mike Blake | Reuters Ahead of the Thanksgiving holiday, a temporary drive-through to distribute food to those in need was set up near Lancaster, California, north of Los Angeles, on Tuesday. At least 2,000
This year, instead of the traditional turkey, Nicole Beckler’s Thanksgiving table will feature two Cornish hens: the perfect sized birds for a dinner for two. Beckler, a travel agent based in Florida, downsized her dinner after deciding against flying to New Jersey to celebrate the holiday with her family. “Since New Jersey is kind of
Check out the companies making headlines in midday trading. Deere — Shares of the equipment maker slipped more than 1% despite the company betting top and bottom line estimates during the fourth quarter. Deere earned $2.39 per share during the period, ahead of the $1.49 expected by analysts surveyed by Refinitiv. The company said in
From treetop dining to underwater villas, the Maldives is coming up imaginative ways to help travelers stay socially distanced while still enjoying a vacation. The island nation reopened to visitors on July 15, and more than 57,000 tourists have visited since. More airlines set to resume flights this month and next. Earlier in November, the
SpaceX prototype rocket Starship SN8 stands on the company’s launchpad in Boca Chica, Texas before an engine test. @LabPadre SpaceX is aiming to launch its latest Starship rocket prototype as early as “next week,” CEO Elon Musk said on Tuesday, in what would be the company’s most ambitious flight test of the rocket to date.
This month, New York Assemblywoman Linda Rosenthal (D) introduced A11123 which, if enacted, would increase the excise tax on ”other tobacco products” (including cigars) from 75 percent to 129 percent of wholesale value and the excise tax on vapor products from 20 percent to 48 percent of retail value. Excise taxes on tobacco products are
Capitol Building in Washington, D.C. DEA / M. BORCHI | De Agostini | Getty Images Nearly 14 million American workers are collecting unemployment benefits through programs that will lapse at the end of the year without congressional action. Expiring aid would leave many without income at a time when protections for renters, homeowners and student
AJ Watt | Getty Images Are you stocking up on cold and flu meds for the winter? Buying an at-home Covid-19 test kit? If so, you are running out of time to use this tax-advantaged account for those purchases. Health-care flexible spending accounts, which may be available at your job, allow you to stash pre-tax
So-Low Environmental Equipment, a maker of ultra-cold freezers, is seeing a surge in demand for its products in anticipation of coronavirus vaccine distribution, leading to an inventory backlog despite its efforts to prepare. “Right now, we are out of everything,” Dan Hensler, vice president of the Cincinnati-based company, said Wednesday on CNBC’s “Squawk on the
For a myriad of reasons, millennials, America’s largest generation, are becoming homeowners later in life and at lower rates than the generations of Americans that preceded them. The rapid expansion of the middle-class after World War II made owning a home easier and, ultimately, a symbol of the American dream. But according to the Urban
Clark Duke, Kailey Crawford and Cloris Leachman voice Thunk, Sandy and Gran in “The Croods: A New Age” Universal The week of Thanksgiving is typically a robust time at the box office, but this year the coronavirus pandemic has crippled the film industry, leaving little doubt that the November holiday will suffer the same fate.
Federal Reserve officials took part in a detailed discussion about their asset purchase program during the meeting earlier this month, at which some members said they expect several changes to be enacted. The Fed on Wednesday released minutes from its Nov. 4-5 policy meeting. Officials at that meeting voted to keep benchmark short-term borrowing rates