Drazen_ | E+ | Getty Images The IRS on Wednesday unveiled plans for “dozens of new audits” of corporate jet usage as part of its increased scrutiny of large corporations, complex partnerships and top earners. More than 10,000 corporate jets operate in the U.S., and the agency believes some companies […]
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New FAFSA ‘loophole’ lets grandparents help pay for college without affecting financial aid eligibility
How the FAFSA’s grandparent ‘loophole’ works The simplified FAFSA form now uses a new calculation called the “Student Aid Index” to estimate how much a family can afford to pay. Previously, many factors went into how much aid students receive, including the total number of people in the household and […]
FCC to vote in March on rules for ‘all-in’ cable and satellite pricing
Signage is seen at the headquarters of the Federal Communications Commission in Washington, D.C. Andrew Kelly | Reuters WASHINGTON — A federal consumer protection watchdog agency on Wednesday announced that it will be voting on rules that will require cable and satellite providers to display an “all-in” price for video […]
Feds charge Japanese Yakuza leader with nuclear materials trafficking
The DOJ alleges that a high-ranking member of the Yakuza, Takeshi Ebisawa, was the central figure in a plot to funnel American weapons to ethnic militias in Myanmar in exchange for heroin and meth. Ebisawa is charged with narcotics importation, money laundering, and conspiracy to acquire surface to air missiles, […]
EV boat maker Arc debuts a premium wake sport model for $258,000
Arc Boat Company’s fully electric Arc Sport model gets four to six hours of typical use on a single charge. Arc Boat Company Arc Boat Company began sales of its second electric boat model in just three years this week. The new $258,000 Arc Sport was designed for wake sports […]
Here’s why Capital One is buying Discover in the biggest proposed merger of 2024
Capital One CEO and Chairman, Richard Fairbank. Marvin Joseph| The Washington Post | Getty Images Capital One’s recently announced $35.3 billion acquisition of Discover Financial isn’t just about getting bigger — gaining “scale” in Wall Street-speak — it’s a bid to protect itself against a rising tide of fintech and […]
Nvidia set to report fourth-quarter earnings after the bell
NVIDIA’s CEO Jensen Huang attends a media roundtable meeting in Singapore December 6, 2023. Edgar Su | Reuters Nvidia is scheduled to announce fiscal fourth-quarter earnings after the bell Wednesday in a highly anticipated report that will give Wall Street a sense of how long the AI boom can last. […]
Ford, UAW reach local labor deal to avert strike at Kentucky plant
Ford Super Duty trucks are seen at the Kentucky Truck assembly plant in Louisville, Kentucky, on April 27, 2023. Joe White | Reuters Ford and a United Auto Workers local union, UAW Local 62, reached a tentative deal on Wednesday to avert a strike at the automaker’s most profitable plant. […]
SpaceX Senior Vice President Tom Ochinero is leaving the company in a rare high-level departure
A SpaceX Falcon Heavy rocket, carrying the Arabsat 6A communications satellite, lifts off from the Kennedy Space Center in Cape Canaveral, Florida, on April 11, 2019. Thom Baur | Reuters One of SpaceX’s senior executives is leaving, CNBC has learned, in a rare high-level departure from Elon Musk’s space company. […]
78% of near-retirees failed or barely passed a basic Social Security quiz. Test your knowledge before you claim
Eclipse_images | E+ | Getty Images Many near retirees expect Social Security to be their largest source of income when they stop working. Yet those who are on the brink of their so-called golden years fall short when it comes to knowledge about the program’s rules and what they can […]