Month: March 2021

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Treasury Secy Yellen to restart hedge fund oversight panel as part of financial reform goals

Treasury Secretary Janet Yellen laid out a three-pronged agenda on Wednesday to address what she described as ongoing threats to the nation’s financial system. Presiding over the Financial Stability Oversight Council, which she now leads but was once a member, Yellen said last year’s market disruptions at the onset of the Covid-19 pandemic could have …

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IRS refunds will start in May for $10,200 unemployment tax break

Samuel Corum/Bloomberg via Getty Images The IRS will start issuing tax refunds in May to Americans who filed their returns without claiming a new break on unemployment benefits, the federal agency said Wednesday. The American Rescue Plan waived federal tax on up to $10,200 of unemployment benefits, per person, received in 2020. Households with $150,000 …

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U.S. Covid cases are on the rise as vaccination pace picks up amid expanded eligibility guidelines

In this article BNTX PFE The United States’ Covid-19 cases are trending upward again, with nationwide infection levels far below January’s peak of about 250,000 new cases per day but approaching numbers seen during the summer surge when average daily case counts reached nearly 70,000. In an effort to speed up the vaccination campaign, many …

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Goldman Sachs is close to offering bitcoin and other digital assets to its wealth management clients

In this article GS MS BTC.CB= A Goldman Sachs logo is seen displayed on a smartphone screen. Omar Marques | SOPA Images | LightRocket | Getty Images Goldman Sachs is close to offering its first investment vehicles for bitcoin and other digital assets to clients of its private wealth management group, CNBC has learned exclusively. …

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One-third of Americans don’t know whether they’ll get a tax refund or owe the IRS this year

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 …

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Covid in Brazil ‘completely out of control,’ says Sao Paulo-based reporter

Brazil just reached a grim Covid-19 milestone, and a reporter based in Sao Paulo doesn’t see the situation improving in the near future. “We have people dying because of lack of oxygen, people are literally suffocating,” Patricia Campos Mello, a reporter for Folha de Sao Paulo, told CNBC’s  “The News with Shepard Smith” on Tuesday. …

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Crypto investor who bought Beeple’s NFT for $69 million says he would have paid even more

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 …

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Bank of America announces expansion of racial justice initiatives

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 …

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Individual investors should tread carefully in hot but risky IPO market, experts caution

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 …

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Volkswagen’s name change of U.S. ‘Voltswagen’ operations was April Fool’s marketing prank, source says

In this article VOW3-DE Ashlee Espinal | CNBC German automaker Volkswagen will not be changing the name of its U.S. operations to Voltswagen of America after all. The news, which appeared to leak out on its U.S. media site Monday and was formally announced in a press release Tuesday, was part of an elaborate April …

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Lululemon’s sales, earnings beat as digital business accelerates

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 …

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Mark Cuban: This is the type of person you should hire—and the type you shouldn’t

Self-made billionaire Mark Cuban has created and invested in many profitable companies — and one of his secrets to success is hiring the right people. “You want the best,” Cuban, investor on ABC’s “Shark Tank” and owner of the Dallas Mavericks, said on a recent episode of the “Starting Greatness” podcast. “You want the people …

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Amazon launches ‘AWS Space Accelerator’ with UK venture firm to help space startups grow

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 …

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More than 1 million student loan borrowers in default are now eligible for pause on payments and collections

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 …

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