Monthly Income Estimate The 2019 Secure Act required inclusion of “lifetime income” on 401(k) statements. Many Americans will get their first look at these illustrations on their Q2 2022 statements. The timing for the rollout of the information is awkward given the way portfolios have shrunk during the market’s 2022 [...]
Commodity Classification The Responsible Financial Innovation Act was introduced yesterday in the Senate. It’s the first major attempt to regulate cryptocurrencies and other digital assets. Lawmakers say the bill would provide a regulatory framework and promote transparency. In a broad sense, the legislation aims to classify coins and tokens as [...]
Easy Out Apple (APPL) launched a privacy initiative about a year ago which aims to give users of the company’s products an easy way to avoid having their digital activity tracked. With the policy change, apps that want to follow you online will have to ask you first. The upgraded [...]
Hold the Alcohol In a trend that started a couple of years before the pandemic, non-alcoholic beverages are becoming increasingly popular. The category is no longer just “near beer” either. Over the past year, US sales of non-alcoholic spirits reached $4.5 million according to NielsenIQ — that’s a 116% increase. [...]
Two-Year Reprieve The Biden Administration announced a 24-month pause for tariffs on imports of solar panel products from Cambodia, Malaysia, Thailand, and Vietnam. Tariffs on imports from China and Taiwan will remain unchanged. Shares of solar energy companies popped on the news. This comes on the heels of a US [...]
Hardware or Software? Apple (AAPL) opened its annual weeklong developer’s conference yesterday. The tech giant unveiled its new MacBook Air, which includes a more powerful M2 processor. It also rolled out the upgraded iOS 16 and a new “buy now pay later” program called Apple Pay Later. Some industry observers [...]
Unacceptable Carbon Footprint A New York bill banning certain Bitcoin (BTC) mining practices has passed and now requires the approval of Governor Kathy Hochul to become law. At issue is “proof of work” cryptocurrency mining that uses a significant amount of electricity to run mining operations, all while burning fossil-fuels [...]
Walmart plans to open four new fulfillment centers over the next three years as the company embraces automation. Walmart (WMT) plans to open four new fulfillment centers by 2025 starting with one in Illinois, which will open this summer. The plants will feature high-tech advances which are expected to allow [...]
Economic Data Today, no major economic data is scheduled for release. Tomorrow, be on the lookout for April’s foreign trade balance, which is the net difference between the value of the nation’s imports and exports. In March the trade deficit increased by 22.3% to $109.8 billion. It marked the first [...]
In recent years, research has revealed a significant disparity in the financial well-being of LGBTQ+ adults compared to the general population, particularly among transgender people and LGBTQ+ people of color. The major drivers behind this wealth gap? Lower rates of inheritance and family support, as well as discrimination in housing, [...]
