Key Findings: Excessive tax rates on cigarettes in some states induce substantial black and gray market movement of tobacco products into high-tax states from low-tax states or foreign sources. New York has the highest inbound smuggling activity, with an estimated 53.2 percent of cigarettes consumed in the state deriving from smuggled sources in 2018. New
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
A salesman carries a Best Buy shopping basket in San Francisco, California. Getty Images Check out the companies making headlines in midday trading. American Airlines, United Airlines, Carnival — Airlines and cruise stocks surged on Tuesday as stocks tied to an economic recovery continued to rise after a series of positive vaccine announcements. Shares of
‘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
Travelers wearing protective masks wait in line to go through security at San Francisco International Airport (SFO) in San Francisco, California, on Monday, Nov. 24, 2020. David Paul Morris | Bloomberg | Getty Images With Covid-19 deaths rising rapidly and daily new cases and hospitalizations both reaching all-time highs, epidemiologists and public health officials are
A person walks into the Nordstrom store open for business as New York City moves into Phase 2 of re-opening following restrictions imposed to curb the coronavirus pandemic on June 29, 2020 in New York, New York. Rob Kim | Getty Images Check out the companies making headlines after hours on Tuesday: HP Inc. —
Lisa Lickers, her husband and their blended family before the arrival of their baby. Source: Lisa Lickers Navigating the terrain of a blended family’s financial life is tricky enough in normal times. Add a pandemic into the mix, and things can get downright exhausting. “Stressful financial situations bring to the surface underlying family dynamics,” said
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
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
Take a look at some of the biggest movers in the premarket: Gap (GPS) – Gap reported quarterly earnings of 25 cents per share, missing consensus estimates by 7 cents a share. The apparel retailer’s revenue beat forecasts, however. Gap’s bottom line was hurt by increased marketing and shipping costs resulting from a shift to
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
U.S. Treasury Secretary Steven Mnuchin and Federal Reserve Chair Jerome Powell are seated to testify before a House Financial Services Committee hearing on oversight of the Treasury Department’s and Federal Reserve’s coronavirus disease (COVID-19) pandemic response on Capitol Hill in Washington, U.S., September 22, 2020. Joshua Roberts | Reuters The Federal Reserve could provide clues
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
Every year, for over 80 years, the Tax Foundation has hosted its end-of-year gala, Tax Prom, to bring together the tax community in a spirit of bipartisanship and to celebrate the hard work of the year. In 2020, like so many other things, Tax Prom was a little different. Instead of gathering in person, we
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.
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.
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
In this Tuesday, July 17, 2012 photo, a single family home is offered for sale in the Hollywood area of Los Angeles. Average rates on fixed mortgages fell again this week to record lows, creating more incentive for buyers to enter the recovering housing market. Mortgage buyer Freddie Mac said Thursday, July 19, 2012, that
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