Travelers who have serious delinquent tax debts exceeding $62,000 may face significant travel restrictions imposed by the federal government. The IRS and Treasury Department are required by law to notify the State Department of individuals with such tax liabilities. Once this notification is made, the State Department may refuse to issue a new passport or
Global Finance
In light of the upcoming Federal Reserve’s interest rate decision in September, there has been a noticeable shift towards dividend stocks among investors. Paul Baiocchi of SS&C ALPS Advisors has expressed his belief that this is a wise move, particularly due to his prediction of the Fed easing rates. This change in investment strategy is
Remote work has become a significant trend in the U.S. labor market, emerging as a result of the Covid-19 pandemic. Economists are noting that this shift towards remote work is one of the most significant changes in the labor market over the past few decades. According to Nick Bunker, an economic research director at Indeed,
Philadelphia Federal Reserve President Patrick Harker made a bold statement at the Fed’s annual retreat in Jackson Hole, Wyoming, indicating that an interest rate cut is imminent. He emphasized the need to start the process of moving rates down methodically in September to address potential weaknesses in the labor market and inflation concerns. With markets
The news of Mike Lynch’s acquittal in June was a moment of relief for the British technology entrepreneur who had been embroiled in a lengthy legal battle with Hewlett Packard. However, just two months after being cleared of fraud charges, tragedy struck as Lynch was reported missing following the sinking of a superyacht off the
Electric vehicles (EVs) have been touted as a more cost-efficient option for consumers compared to traditional gasoline-powered cars. While initial purchase prices may be higher for EVs, the long-term savings on fuel and maintenance costs make them a potentially cheaper choice over the lifetime of the vehicle. However, various factors such as the EV model,
In today’s volatile market, investors are seeking ways to protect their investments from potential downturns. One strategy gaining attention is the use of buffer exchange-traded funds (ETFs) to mitigate risk while still gaining exposure to the market. Buffer ETFs, such as those offered by Innovator ETFs, provide investors with a level of downside protection while
China’s People’s Bank of China Governor, Pan Gongsheng, recently stated in state media interviews that the financial risks in China have significantly decreased, including those stemming from local government debt. According to Pan, the central bank will collaborate with the Ministry of Finance to ensure that China achieves its annual growth targets. He emphasized that
Klarna, a financial technology firm, is making bold moves in the banking sector by introducing new products such as a checking account-like feature and a cashback offering. The company, known for its buy now, pay later loans, aims to disrupt retail banking and incentivize customers to use its platform for managing their spending and saving.
Warren Buffett, also known as the “Oracle of Omaha,” has made headlines after it was discovered that he now owns an equal number of shares in both Apple and Coca-Cola. This comes after he slashed his holding in the tech giant by half, leaving many wondering if this was a mere coincidence or part of
Inflation in the United States has recently dropped below 3% for the first time in over three years, bringing about a shift in the economic landscape. While disinflation, where prices continue to rise at a slower pace, is prevalent in many sectors, some areas are experiencing outright deflation. This deflation has primarily affected physical goods,
UBS CEO Sergio Ermotti recently made some predictions about the future of market volatility. He mentioned that while there could be an intensification of market volatility in the second half of the year, he does not believe that the U.S. is heading into a recession. This statement comes after global equities experienced sharp sell-offs due