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China’s consumer price index hit a two-year high in July as pork prices rebounded, according to official data released Wednesday. Prices of pork, a food staple in China, rose by 20.2% in July from a…
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The Carried Interest Loophole Survives Again
Once again, carried interest carried the day. The last-minute removal by Senate Democrats of a provision in the climate and tax legislation that would narrow what is often referred to as the “carried interest loophole”…
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Senate Plan Would Put Bitcoin, Ether Under Commodity…
Leaders of a Senate committee are set to propose legislation that would assign oversight of the two largest cryptocurrencies, bitcoin and ether, to the federal agency that regulates milk futures and interest-rate swaps. Senate Agriculture…
IRS Causes Confusion and Pushback with Changes to…
Figuring out the most efficient way to navigate the tax impact of inheriting individual retirement accounts has become more complicated since the Internal Revenue Service issued proposed new rules in February. The rules on inherited IRAs were most recently changed in the…
Individual Investors Ramp Up Bets on Tech Stocks
Technology stocks have taken a beating this year. Many individual investors have used it as an opportunity to double down. The Nasdaq Composite Index—home to the big tech stocks that propelled the market’s decadelong rally—has…
Manchin Touts Inflation Bill but Says He Wont…
Senator Joe Manchin, D-W.V., made the morning talk show rounds on Sunday to talk about the Inflation Reduction Act of 2022, a revival of President Joe Biden’s Build Back Better economic bill that collapsed earlier this year.…
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Yellen Says No Signs of Recession Despite GDP…
Treasury Secretary Janet Yellen said Thursday that the U.S. economy doesn’t appear to be in a recession despite two straight quarters of negative gross domestic product (GDP). During a Thursday press conference after the release of GDP…
Senators are advancing a computer chips bill. They…
Senators are moving forward this week on a scaled-back package to boost domestic computer chip production. They just don’t know what’s in the bill yet. The Senate on Tuesday took the first step to advance…
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The Mega Millions Jackpot is $830 Million… But…
The Mega Millions jackpot has jumped yet again. Strong ticket sales have pushed the top prize up to $830 million, marking the second adjustment ahead of Tuesday night’s drawing. If won at that amount, it…
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What Can Be Done About the Cost of…
America’s highways are potholed, its ports overloaded and many of its bridges decrepit. Some 43% of public roadways are in poor or mediocre condition, according to the American Society of Civil Engineers, which gave the…