Month: May 2025
Gold ETF investors may be surprised by their tax bill on profits
Key Points The IRS treats gold and other precious metals as collectibles for tax purposes. The same is true of exchange-traded funds backed by physical gold. Collectibles have a 28% top federal tax rate for long-term capital gains. Stocks have a maximum rate of 20%. Many investors in popular gold funds — like SPDR Gold […]
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McDonald’s reports largest U.S. same-store sales decline since 2020
McDonald’s on Thursday reported mixed quarterly results as its U.S. same-store sales fell for the second straight quarter, posting their largest domestic decline since the onset of the Covid pandemic. McDonald’s U.S. same-store sales shrank 3.6% as the chain faced bad weather and a more cautious consumer. That drop is the worst in McDonald’s home […]
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CVS to boost access to Novo Nordisk’s weight loss treatment Wegovy for patients on its drug plans
The “Wegovy” brand slimming syringe is sold in the Achat pharmacy in Mitte. The “Wegovy” slimming syringe has been available in Germany for a year. Jens Kalaene | Picture Alliance | Getty Images CVS Health on Thursday said it will significantly expand access to the blockbuster weight loss drug Wegovy for patients covered by its […]
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U.S. and Ukraine sign landmark minerals deal after months of fraught negotiations
Earth and minerals are loaded onto trucks at an open-pit mine near the frontline, despite the threat of bombing by Russian invading forces on February 26, 2025 in Donetsk Region, Ukraine. Pierre Crom | Getty Images News | Getty Images The U.S. and Ukraine have signed a long-awaited minerals deal, providing Washington with preferential access […]
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Meta Platforms jumps 6% on earnings beat, advertising resilience
Meta CEO Mark Zuckerberg appears at the Meta Connect event in Menlo Park, California, on Sept. 25, 2024. David Paul Morris | Bloomberg | Getty Images Meta Platforms shares jumped more than 6% Thursday after the company topped earnings expectations and showed advertising resilience in a murky macroeconomic environment. “Key here is that Meta’s adv. […]
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GM lowers 2025 guidance, citing up to $5 billion in tariff exposure
DETROIT – General Motors on Thursday lowered its 2025 financial guidance to include an expected $4 billion to $5 billion impact as a result of President Donald Trump’s auto tariffs. The Detroit automaker said its new guidance includes adjusted earnings before interest and taxes of between $10 billion and $12.5 billion. That compares with its […]
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Weekly jobless claims surge to 241,000, more than expected, in latest sign of economic trouble
Initial unemployment claims posted an unexpected increase last week in a potential trouble sign for the wobbling U.S. economy. First-time filings for unemployment insurance totaled a seasonally adjusted 241,000 for the week ended April 26, up 18,000 from the prior period and higher than the Dow Jones estimate for 225,000, the Labor Department reported Thursday. […]
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Eli Lilly sales soar 45% on weight loss drug demand, but drugmaker cuts profit outlook after cancer treatment deal
Eli Lilly on Thursday reported first-quarter revenue and earnings that topped estimates as demand for its weight loss and diabetes drugs soared, but lowered its full-year profit guidance due to charges related to a recent cancer treatment deal. The pharmaceutical giant now expects its adjusted fiscal 2025 earnings to come in between $20.78 and $22.28 […]
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U.S. Chamber of Commerce asks Trump for tariff exclusions to ‘stave off a recession’
The U.S. Chamber of Commerce is urging the Trump administration to immediately implement a “tariff exclusion process” in order to keep the U.S. economy from falling into a recession and inflicting “irreparable harm” on small businesses. In a letter first obtained by CNBC, the massive business lobbying group asked key Trump trade officials to automatically […]
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Eli Lilly CEO says company can help ‘respond’ to national security concerns around essential drugs as tariffs loom
CEO of Eli Lilly and Company David Ricks speaks at the Economic Club of New York on March 12, 2024 in New York City. Spencer Platt | Getty Images Eli Lilly CEO Dave Ricks on Thursday said the drugmaker can help “respond” to national security concerns around cheaper essential medicines as pharmaceutical-specific tariffs loom. The […]
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