Month: May 2022
Gun makers lose challenge to New York law allowing lawsuits against industry
Guns confiscated at New York City public schools are displayed at a news conference with Mayor Eric Adams at police headquarters to speak about guns in public schools in New York City on May 25, 2022 in New York City. Spencer Platt | Getty Images A federal judge on Wednesday threw out a lawsuit by […]
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Fed minutes point to more rate hikes that go further than the market anticipates
Federal Reserve officials earlier this month stressed the need to raise interest rates quickly and possibly more than markets anticipate to tackle a burgeoning inflation problem, meeting minutes released Wednesday showed. Not only did policymakers see the need to raise benchmark borrowing rates by 50 points, but they also said similar hikes likely would be […]
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Details emerge in killing of 19 children, 2 teachers at Texas elementary school
People gather at Robb Elementary School, the scene of a mass shooting in Uvalde, Texas, May 25, 2022. Nuri Vallbona | Reuters The 19 children and two teachers killed in Tuesday’s elementary school massacre in Texas were in the same classroom, where the gunman — who appears to have targeted the school — “barricaded” himself and fired […]
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Here’s the best way to use a health savings account, which offers a triple-tax advantage
The Good Brigade | Digitalvision | Getty Images Health savings accounts can be a powerful way to build wealth and prepare for medical costs in old age — if they’re used the right way. HSAs carry a three-pronged tax benefit. Contributions and investment growth are tax-free, as are withdrawals if used for qualified health expenses. […]
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Roche develops test kits to detect monkeypox virus
Test tubes labelled “Monkeypox virus positive and negative” are seen in this illustration taken May 23, 2022. Dado Ruvic | Reuters Roche on Wednesday said the company and its unit have developed three test kits to detect the monkeypox virus, as the disease spreads in regions outside Africa, where the virus is not normally found. […]
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Stocks making the biggest moves midday: Dick’s Sporting Goods, Nordstrom, Wendy’s and more
Cars are seen parked in front of a Dick’s Sporting Goods store at Monroe Marketplace in Pennsylvania. Paul Weaver | SOPA Images | LightRocket | Getty Images Check out the companies making headlines in midday trading Wednesday. Dick’s Sporting Goods – Shares of the sporting goods seller jumped 11%, despite the company cutting its outlook […]
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Satellite-imagery firms Maxar, Planet and BlackSky awarded billions of dollars in government contracts
Maxar collected new satellite imagery of the southern Ukrainian port city of Berdyansk that reveals a Russian Alligator-class landing ship that is burned and partially submerged near one of the ports loading/unloading quays. Maxar Technologies | Getty Images The National Reconnaissance Office on Wednesday announced contracts worth billions of dollars over the next decade to […]
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Capital gains may have triggered hundreds of billions more in individual taxes for 2021, analysis shows. How to trim your tax bill
The U.S. Department of the Treasury building Julia Schmalz | Bloomberg | Getty Images Some investors may be grappling with the sting of higher-than-expected capital gains for 2021 and losses in 2022. But experts say tax-planning opportunities may soften the blow. Individuals paid significantly more taxes this season, and the surge in capital gains in […]
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Kohl’s stock surges on report bidders are still competing for company amid market volatility
The Kohl’s logo is displayed on the exterior of a Kohl’s store on January 24, 2022 in San Rafael, California. Justin Sullivan | Getty Images Kohl’s shares surged more than 15% Wednesday, after being briefly halted, on hopes the retailer could still be bought following recent volatility in the market and a disappointing earnings report. […]
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Tom Cruise sets sights on his first $100 million domestic opening with ‘Top Gun: Maverick’
Tom Cruise in “Top Gun: Maverick” Source: Paramount This weekend Tom Cruise has a chance to do something he’s never done before — open a film to more than $100 million at the domestic box office. The prolific actor, who has made a name for himself as a fearless stuntman, has generated more than $4.2 […]
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