The economic impact of the pandemic has hit many Americans hard, with the cost of groceries soaring to new heights. Recent government inflation data shows that while the rate of price increases for food has slowed down, 80% of Americans still feel the pinch of rising grocery costs. Since the onset of the pandemic, grocery
Merck recently announced the approval by the Food and Drug Administration of its latest vaccine, Capvaxive, aimed at protecting adults from a dangerous bacteria known as pneumococcus. This vaccine is specifically designed to target 21 strains of the bacteria, offering protection against severe forms of pneumococcal disease that can lead to pneumonia. The significance of
The U.S. Department of the Treasury and the IRS have recently introduced a plan to eliminate a significant tax loophole that has been utilized by large, complex partnerships. This loophole, known as “related party basis shifting,” involves trading original purchase prices on assets between different legal entities to manipulate deductions and reduce future gains. The
In recent years, car payments have seen a significant surge due to a combination of factors such as high vehicle prices and soaring interest rates. According to data from Moody’s Analytics, the average monthly car payment for customers reached $760 in May. This figure represents a 40% increase from the $535 average payment back in
Nvidia’s recent surge in stock prices is poised to have a significant impact on the Technology Select Sector SPDR Fund (XLK) as it is set to acquire more than $10 billion worth of shares of the chip giant. This acquisition will lead to a major reshuffling of the fund’s holdings, with a considerable reduction in
The recent decision by the Federal Reserve to keep rates steady has signaled that there will likely be only one rate cut before the end of the year. This poses a challenge for consumers carrying credit card balances as they may not see much relief from the high interest charges. With the average credit card
The soaring demand for weight loss and diabetes treatments has paved the way for Eli Lilly’s unprecedented success in the past year. With CFO Anat Ashkenazi at the helm, the pharmaceutical giant has managed to navigate the windfall in revenue generated by diabetes injection Mounjaro and obesity drug Zepbound. However, despite these accomplishments, Ashkenazi acknowledges
Berkshire Hathaway’s decision to further reduce its stake in BYD, China’s largest electric vehicle maker, is a significant development in the financial world. This move comes after the conglomerate’s initial investment in BYD, thanks to the late Charlie Munger, which proved to be extremely profitable over the years. The recent sell-off involved Berkshire Hathaway selling
Singapore, known for its modern skyscrapers and advanced infrastructure, is also home to some hidden gems in the form of ornate shophouses that dot the streets of its old neighborhoods. These colonial-era buildings, some dating back to the 1840s, are a stark contrast to the contemporary architecture that dominates the city-state. Despite their historical significance
Starboard Value, an activist fund managed by Jeff Smith, has recently acquired a substantial stake in the graphics-design company, Autodesk. The stake is estimated to be around $500 million and Starboard has engaged in discussions with Autodesk’s board regarding several serious concerns related to the disclosure of an internal investigation that resulted in the removal