Lowe’s recently announced a downward adjustment to its full-year forecast due to declining quarterly sales and projected weak home improvement spending in the latter half of the year. The company revised its total sales expectations to a range between $82.7 billion and $83.2 billion, down from the previously expected $84 billion to $85 billion. Similarly,
income
The expiration of the tax breaks enacted by former President Donald Trump through the Tax Cuts and Jobs Act after 2025 is set to impact millions of American taxpayers. The Tax Foundation estimates that over 60% of taxpayers could potentially face higher taxes in 2026 without extensions. These expiring provisions include lower federal income tax
The federal minimum wage has remained at $7.25 per hour for the past 15 years, leaving many workers struggling to make ends meet. Despite this, there are still 20 states where the minimum wage is no higher than the federal level. This stagnant federal minimum wage has prompted calls for change, with the aim of
Inflation in the United States continued to decline in July, with price pressures easing on consumer staples like food and energy, as well as physical goods such as new and used cars. The consumer price index (CPI), a crucial metric for measuring inflation, increased by 2.9% in July compared to the same month a year
Vice President Kamala Harris recently announced an economic plan that includes an expanded child tax credit offering up to $6,000 in total tax relief for families with newborn children. This proposal aims to build on the child tax credit implemented through the American Rescue Plan in 2021, which provided families with a maximum credit of
One significant threat that investors need to be wary of as they approach retirement is known as the “sequence of returns risk.” This risk, often overlooked and misunderstood, has the potential to pose a serious threat to one’s retirement nest egg. Essentially, sequence risk arises from poor investment returns combined with withdrawals, especially during the
Alibaba recently reported its financial results for the June quarter of 2024, and the numbers fell short of expectations set by LSEG. The company’s revenue came in at 243.24 billion Chinese yuan ($34.01 billion), missing the 249.05 billion yuan expected. Similarly, Alibaba’s net income was 24.27 billion yuan, below the 26.91 billion yuan estimated. This
Former President Donald Trump has proposed a bold idea for Social Security – ending taxes on benefit income. While this move would allow seniors to keep more of their monthly checks, it has raised concerns about the potential revenue loss. Representative John Larson, D-Conn., criticized the plan, pointing out the lack of clarity on how
The construction boom in the U.S. has led to a surplus of housing units, resulting in lower rents and various benefits for renters. This surge in construction activity, especially since the pandemic, has substantially increased the inventory of available units, giving renters more options to choose from. According to Zillow Group, a significant number of
Norway’s Government Pension Fund Global, the world’s largest sovereign wealth fund, announced a first-half profit of 1.48 trillion kroner ($138 billion). This massive profit was primarily fueled by robust returns on its investments in technology stocks. The fund reported a value of 17.75 trillion kroner at the end of June, showcasing its impressive financial standing