Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. IRS warns of new scam involving unclaimed refunds The Internal Revenue Service and its Security Summit partners are cautioning taxpayers and tax professionals to beware of a new scam in which fraudsters are sending out cardboard envelopes from a delivery service asking people to send photos and bank account… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Federal Reserve Board releases results of annual bank stress test The Federal Reserve Board on Wednesday released the results of its annual bank stress test, which demonstrates that large banks are well positioned to weather a severe recession and continue to lend to households and businesses even during a… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Stocks fall as Fed’s Powell confirms more rate hikes this year U.S. stocks fell across the board on Wednesday after Federal Reserve Chair Jerome Powell reiterated more rate hikes are on the way during congressional testimony. Powell, Semiannual Monetary Policy Report to the Congress Federal Reserve Chairman Jerome Powell testified before… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Barclays CEO in bid to stem US talent flight Barclays Chief Executive C.S. Venkatakrishnan held a virtual town hall to address management changes leading to bankers leaving for rival firms. Roughly two dozen U.S. investment bankers have left Barclays for firms like Citigroup, UBS, and Jefferies Financial Group. Amazon’s… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Biden-McCarthy debt ceiling deal approved by key committee ahead of House vote Congress is facing a major test as the House Rules Committee is set to consider a bipartisan debt ceiling deal. The deal would suspend the debt limit until July 2021 and increase spending by $320 billion over… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Biden, McCarthy reach final deal to prevent default, now must sell to Congress President Biden and House Minority Leader Kevin McCarthy have reached a final deal to prevent the US from defaulting on its debt. The deal must now be sold to Congress, who will need to pass it… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Bill Gates says the big winner in A.I. will be whoever makes a truly useful smart assistant first Bill Gates predicts that AI-powered smart assistants will be the big winner in the future. He believes that these assistants will be able to help people with tasks such as scheduling,… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Biden Expresses Optimism Over Debt Limit Deal, but an Agreement Remains Elusive President Biden is in talks with Congress to raise the debt limit and avoid a potential government shutdown. He is proposing a plan to raise taxes on wealthy Americans and corporations to help pay for the increase.… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Why do US banks keep failing? In this video, CNBC discusses the collapse of several banks and the impact it has had on the economy, with over 550 banks failing since 2001 according to the FDIC. New EV tax credit rules make many vehicles ineligible The US Treasury Department… Read more