Consumer prices for May accelerated at their fastest pace in nearly 13 years as inflation pressures continued to build in the U.S. economy, the Labor Department reported Thursday. The consumer price index, which represents a basket including food, energy, groceries, housing costs and sales across a spectrum of goods, rose […]
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State Street is creating a dedicated cryptocurrency division
State Street Financial Center building, which houses the company’s headquarters, in Boston, Massachusetts. Brent Lewin | Bloomberg | Getty Images State Street is creating a division dedicated to digital finance, which will comprise cryptocurrency, central bank digital currency, blockchain technology and tokenization, it announced Thursday morning. State Street Digital will […]
Microsoft is developing new hardware to bring its ‘Netflix for games’ service to TVs
A gamer plays soccer title Pro Evolution Soccer 2019 on an Xbox console. Sezgin Pancar | Anadolu Agency via Getty Images Microsoft is developing dedicated streaming hardware that people will be able to hook up to their TVs to use its Netflix-like cloud gaming service. The company is betting the […]
Homeowners got $2 trillion richer during the first three months of the year
Helen H. Richardson | Denver Post | Getty Images Homeowners are getting richer and richer as prices keep soaring – and the numbers are staggering. Those with mortgages — about 62% of all properties — saw their equity jump by 20% in the first quarter from a year earlier, according […]
Many wealthy Americans escape big income tax bills. Here’s how they do it
Yes, the super-rich are different than the rest of us. A lot of them pay very little in income taxes. Some of the world’s wealthiest executives, including Warren Buffett, Jeff Bezos, Michael Bloomberg and Elon Musk, pay little to no taxes compared to their wealth, a ProPublica report revealed on […]
Moderna asks FDA to clear Covid vaccine for adolescents 12 to 17
A nurse gives Sherri Trimble, 15, a shot of the vaccine at a vaccination clinic at Health First Medical Centre in Melbourne, Florida. Paul Hennessy | SOPA Images | LightRocket | Getty Images Moderna said it has asked the Food and Drug Administration to expand the emergency use of its […]
G-7 summit: Here’s a quick guide to everything you need to know
A aerial view of The nearby town of St Ives close to The Carbis Bay Estate hotel and beach, which is set to be the main venue for the upcoming G7 summit, is seen from a drone on June 2, 2021 in St Ives, Cornwall. Matt Cardy | Getty Images […]
The credit card wars are heating up again as Citigroup takes on JPMorgan with new 5% cash-back card
Pam Habner, Citigroup’s Head of US Branded Cards Source: Citigroup Banks have been falling over themselves recently to entice new credit-card customers, dangling hefty 100,000 point bonuses and rolling out new products. Now Citigroup is making a push in one of the fastest-growing card segments. The bank is launching a […]
G-20 GDP returns to pre-pandemic levels, with China seeing a massive rebound
Employees work on the production line of silicon wafer at a workshop of Jiejie Semiconductor Co., Ltd on March 17, 2021 in Nantong, Jiangsu Province of China. Xu Congjun | Visual China Group | Getty Images The Group of Twenty (G-20) economies saw gross domestic product return to pre-pandemic levels […]
The G-7 summit: Here’s a quick guide to everything you need to know
A aerial view of The nearby town of St Ives close to The Carbis Bay Estate hotel and beach, which is set to be the main venue for the upcoming G7 summit, is seen from a drone on June 2, 2021 in St Ives, Cornwall. Matt Cardy | Getty Images […]