Lili cofounders Lilac Bar David (right) and Liran Zelkha (left) are what Group 11 Founding Partner … [+] Dovi Frances calls “the OGs of the digital banking industry.” Lili In deciding whether or not to bet on the founders of Lili, a digital banking app that caters towards America’s freelancers, Group 11 founding partner Dovi… More
Some student loan borrowers who have made payments during the CARES Act payment freeze may be able … [+] to get a refund. getty Millions of borrowers who have been making payments on their student loans during the last year may not realize that they are entitled to a refund. The CARES Act, which Congress… More
A tank farm along Colonial Pipeline. © 2016 Bloomberg Finance LP One of America’s energy jugulars, the 5,500-mile, 100 million gallon-per day Colonial pipeline network, was shut down Friday night because of what the company refers to as a “cybersecurity attack.” The incident is ongoing, the company says, and is already under investigation by private… More
This episode of What’s Ahead describes why investors shouldn’t buy bonds. The great bull market in bonds that began in 1982 is over. If you have bonds in your portfolio, make sure their maturities are no longer than three years. Although interest rates have come up a tad in recent months, they are still at levels… More
Buried in an already disheartening article about how homeless Americans are struggling to get their … [+] stimulus checks is an even more depressing accusation: finance bros are offering to help homeless people get stimulus payments in exchange for a hefty fee. getty Buried in an already disheartening New York Times article about how homeless… More
A fleet service worker shuts the door on an American flight at JFK on March 26. (Photo by Angus … [+] Mordant) © 2021 Bloomberg Finance LP What is the fastest growing airline in the biggest U.S. market? Vasu Raja, American Airlines chief revenue officer, had an answer on American’s earnings call Thursday. noting, “American… More
Monitors display Coinbase signage during the company’s initial public offering (IPO) at the Nasdaq … [+] MarketSite in New York, U.S., on Wednesday, April 14, 2021. Michael Nagle/Bloomberg Last week, when Coinbase, America’s most popular bitcoin brokerage, went public it ended the day with a 30% gain, good for an impressive $86 billion market cap.… More
Hardly a day goes by without stock indexes setting new highs. But serious headwinds—tax increases, massive spending and the Federal Reserve’s money printing—will hurt the economy and set off a serious period of inflation. This segment of What’s Ahead discusses what investors should do in the face of these obstacles. Regarding retirement funds, investors—unless they’re near… More
This story is part of Forbes’ coverage of Japan’s Richest 2021. See the full list here. Koei Tecmo Holdings isn’t just big in videogames, but also asset management: the company holds roughly $1.1 billion in assets across Hong Kong, Japan and the U.S. In a recent Nikkei interview, the firm’s cofounder and chair, Keiko Erikawa, revealed… More
Shigenobu Nagamori, founder and CEO of Nidec, saw his wealth jump by $5.3 billion to $9 billion. Akio Kon/Bloomberg This story is part of Forbes’ coverage of Japan’s Richest 2021. See the full list here. As more people worked from home during the pandemic, manufacturer Nidec’s sales of motors for computers, hard disk drives and home… More
Taichiro Motoe Courtesy of Bengo4.com This story is part of Forbes’ coverage of Japan’s Richest 2021. See the full list here. In a pandemic year, Japan has minted billionaires at an unprecedented pace. The five new faces who feature among Japan’s 50 richest this year all own businesses that successfully addressed the needs of a world… More
Nitori Holdings Chairman Akio Nitori. Rodrigo Reyes Marin/AFLO/Newscom This story is part of Forbes’ coverage of Japan’s Richest 2021. See the full list here. Lockdowns across Japan since last spring led to a surge in sales at furniture and home decor retailer Nitori Holdings as homebound consumers snatched up items to spruce up their digs and… More
Which is better, using appreciated securities or an IRA? Here’s a calculator to answer the question. Volunteers at Habitat for Humanity in Culver City, California. (Photo by John Wolfsohn) Getty Images The 2017 tax law, with its huge standard deduction, did serious damage to the tax benefits of philanthropy: Now, for a lot of taxpayers,… More
Robert Smith, June 2020. The Washington Post via Getty Images It’s a new legal development for private equity billionaire Robert F. Smith and his onetime mentor Bob Brockman, already accused of the biggest tax evasion in U.S. history. Yesterday, the U.S. Department of Justice announced the indictment of Carlos E. Kepke, a Houston tax attorney who… More
DILEMMA: How can you know your April 15 estimated tax payment for 2021 if you haven’t yet done your … [+] 2020 tax return due in May? getty While the IRS extended the tax return deadline to May 17, it kept the usual April 15 date for the first quarterly estimated tax payment of 2021.… More
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