Kiyoshi Hijiki | Moment | Getty Images Nearly 3 million more business owners claimed a 20% tax deduction on their income last year relative to the prior filing season, according to IRS data. Around 21.2 million returns claimed the “qualified business income” deduction during tax season last year, which reflected income for 2019. That’s an
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In this article PG GIS SJM KMB Huggies on display at an Albertson’s grocery store in Dallas, Texas. Jason Janik | Bloomberg | Getty Images Kimberly-Clark said Wednesday that it would hike prices on staples like Scott toilet paper and Huggies diapers, joining the growing list of consumer products companies that are raising prices. Higher
Avishek Das | LightRocket | Getty Images Robinhood is redesigning some of its app features — most notably ditching its confetti animation —amid scrutiny over the popular stock trading company’s so-called gamification of investing. The free-stock trading pioneer, which is gearing up for its public debut, told CNBC the move is an effort to remove
In this article HE AAL UAL UNH DAL United Airlines’ Mileage Plus program earned top scores from WalletHub in categories such as ease of advance booking of reward travel and fewer mandatory layovers. United Airlines Air travel is set to boom this year as Americans tired of being cooped up in Covid lockdown look to
Traders work on the floor of the New York Stock Exchange (NYSE) on March 16, 2020 in New York City. Spencer Platt | Getty Images Wall Street investors largely view higher interest rates as the biggest threat to derail the rally in stocks, according to a new CNBC survey. As a part of CNBC’s Quarterly
Zoom In IconArrows pointing outwards This year’s tax season has turned out to be a complicated one — the American Rescue Plan made changes midseason, and the IRS pushed back the filing deadline for individual returns to May 17 from April 15. Even though most Americans have extra time to file, 32% of taxpayers are
A sale pending sign is posted in front of a home for sale on July 17, 2014 in San Francisco, California. Justin Sullivan | Getty Images The U.S. housing market is suffering from its lowest supply in history, and that is taking an increasingly hard toll on sales. Pending home sales, a measure of signed
In this article ZE594-CN Chinese battery and electric vehicle maker BYD shows off a model of its Han EV series at the 2020 Beijing auto show. Evelyn Cheng | CNBC BEIJING — Chinese electric car company BYD is feeling the hit of rising battery material costs. Backed by U.S. billionaire Warren Buffett, the automaker announced
In this article ROO-GB AMZN A Deliveroo cyclist in London, U.K. Dinendra Haria | SOPA Images | LightRocket | Getty Images LONDON — Shares of British food delivery start-up Deliveroo sank in its stock market debut Wednesday, as the company faces pressure from top investors and trade unions over workers’ rights. Deliveroo, which is backed
In this article AMZN An AWS Ground Station satellite antenna at one of the company’s data center in Boardman, Oregon. Amazon Amazon Web Services announced the launch of a new space startup assistance program on Tuesday, with the tech giant partnering with U.K.-based venture firm Seraphim Capital on the project. The AWS Space Accelerator is
In this article FB SFY Monitors display Bumble signage during the company’s initial public offering in front of the Nasdaq MarketSite in New York on Feb. 11. Bloomberg | Getty Images It looks like Main Street is poised to get in on an investment that’s been largely off-limits: initial public offerings. At least two trading
Sen. Bernie Sanders, I-Vt., speaks at an event in Birmingham, Alabama, on March 26, 2021. Andi Rice/Bloomberg via Getty Images A group of Senate Democrats issued a proposal Monday to tax unrealized capital gains of wealthy estates at death. The plan comes as President Joe Biden prepares to unveil a major infrastructure plan that’s expected
CNBC’s Jim Cramer said Tuesday he was skeptical about the latest exchange-traded fund launched by Cathie Wood’s Ark Invest. “One look at the newly launched ARK Space Exploration ETF tells you everything you need to know about how managers can’t resist creating new funds, even if there’s no reason for them to exist,” Cramer said
In this article LULU Pedestrians wearing protective masks walk past a Lululemon store in San Francisco, California, on Monday, March 29, 2021. David Paul Morris | Bloomberg | Getty Images Lululemon on Tuesday reported revenue and profit for the holiday quarter that topped analysts’ estimates, boosted by the athletic apparel maker’s online business, and double-digit
In this article US10Y SMH MCHP NXPI TXN ADI .IXIC Paul Meeks is wary of the group that made him famous on Wall Street. The investor, known for running the world’s largest technology fund during the late 1990s, says it’s the wrong time to aggressively put money to work in tech. “You have to play
In this article ETH.CM= BTC.CM= The buyer of the $69 million NFT by the artist Beeple said he was prepared to bid even higher, since it will be seen by history as the starting point of a new age of digital art. In his first television interview, Vignesh Sundaresan, also known as MetaKovan, told CNBC’s
In this article BAC Patrick T. Fallon | Bloomberg | Getty Images Bank of America is expanding its racial justice initiative, devoting more funding toward advocacy and equality for communities of color. “The urgency we feel to address long-standing issues of inclusion and racial inequality has only increased following the attacks and hate speech directed
Robert Daly | Getty Images The Biden administration is expanding an existing pause on student loan interest and collections to include more than 1.1 million borrowers who are in default, the U.S. Department of Education announced Tuesday. The borrowers, whose defaulted loans are part of the Federal Family Education Loan program, were ineligible for the
An ‘Open House’ sign is displayed as potential home buyers arrive at a property for sale in Columbus, Ohio. Ty Wright | Bloomberg | Getty Images Home price gains are accelerating at an alarming pace, fueled by Covid pandemic-related inflation, which some claim is not getting enough attention from the Federal Reserve. Home prices nationally
SpaceX The latest SpaceX prototype of its Starship rocket was destroyed during a landing attempt after a clean launch on Tuesday. The company’s livestream of the flight test froze as the rocket came in to land, and thick fog around SpaceX’s facility in Texas made it difficult for witnesses to see what happened. Starship prototype