Aretha Franklin’s estate has paid at least $3 million in back taxes to the IRS since her death in August, an attorney for the late Queen of Soul’s estate said Thursday. The estate is being audited by the IRS, which filed a claim this month in a county probate court […]
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Amid chaos, next Pentagon chief Shanahan brings his corporate style to America’s largest bureaucracy
WASHINGTON — From his firm handshake, precise manner of speaking and efficient introductions, it’s clear Patrick Shanahan is a businessman. Before taking the No.2 spot in the Pentagon, Shanahan spent just over 30 years at one of the nation’s top defense companies. People close to the former Boeing executive say […]
China’s stock drop this year reduces bubble worries, central bank official says
China‘s financial markets are safer after this year’s stock market drop, a spokesman from the People’s Bank of China said Friday. The local market is closed Monday, and the Shanghai composite ended the year Friday at 2,493.9, down nearly 25 percent for 2018 in its worst year since 2008. The […]
How investing $5 a day can lead you to $1 million
Can you spare $5 a day? If so, you could become a millionaire — one day. “If you start in your 20s with a couple of reasonable investments, you can’t avoid becoming a millionaire,” said Michael Taylor, author of “The Financial Rules for New College Graduates.” However, many young people […]
One Dow stock is about to snap its longest win streak ever
The Dow has been hit hard this year, but one darling of the index has had it even worse. Home Depot has fallen 10 percent this year, tracking for its first negative annual performance since 2008. If it closes 2018 with these losses, it will snap its longest yearly win […]
Michael Cohen says ‘Mueller knows everything,’ denies new report about alleged Prague meeting
President Donald Trump‘s former lawyer Michael Cohen has had a long year. It started with reports that raised new questions about his role in facilitating hush money payments to women alleging affairs with the president. It ended in a federal court in Manhattan, where he was sentenced to three years […]
Some 17 million workers will get a raise in 2019, thanks to minimum wage hikes
More than 20 states will raise their minimum wage in 2019, and some 17 million workers could benefit, according to a new report by the National Employment Law Project. Workers in Massachusetts will earn $12 an hour, instead of $11. In Maine, $11 instead of $10. In the next few […]
Pending home sales fall unexpectedly in November
Contracts to buy previously owned homes fell unexpectedly in November, the National Association of Realtors said on Friday, the latest sign of weakness in the U.S. housing market. The NAR’s pending home sales index decreased 0.7 percent from the prior month to 101.4. October’s index was unrevised. Economists polled by […]
Trying to get your student loans forgiven? Here are some helpful resources
Most people pursuing public service loan forgiveness discover at some point that they don’t qualify, for one technical reason or another. That may be because their loan type is ineligible or they’re not in the right repayment plan. The Public Service Loan Forgiveness program was signed into law by President […]
Russia dashes plans to make its oil market alliance with OPEC permanent
The marriage between Russia and OPEC is off. Russian Energy Minister Alexander Novak on Friday poured cold water on long-simmering plans to make Moscow’s alliance with OPEC and other oil producers permanent. The group of roughly two dozen producers has been managing global petroleum supply for the last two years […]