The Monterey Car Week auction sales witnessed a 3% decline from the previous year, indicating a shift in preferences from older to newer cars. The total sales at five prestigious car auctioneers in Monterey, namely RM Sotheby’s, Broad Arrow, Gooding & Company, Mecum, and Bonhams, dropped to $391.6 million this year from $403 million in
The shareholder returns for leading homebuilders such as D.R. Horton and Lennar have shown growth above the S&P 500 index between August 2014 and August 2024. Despite this positive trend, analysts have recently downgraded their investment outlook for these companies in the current market environment. The mixed signals from industry experts have left investors with
Remote work, once considered a temporary solution during the Covid-19 pandemic, has now become a permanent fixture in the U.S. labor market. This shift, as noted by economists, has been one of the most significant changes in the labor market over the past few decades. The concept of remote work encompasses full-time work-from-home positions as
Retirees often have various sources of income, including Social Security, pensions, retirement plans, and other investments. Managing taxes on these income sources is crucial to avoid IRS penalties. While quarterly estimated tax deadlines are important, there is a lesser-known strategy that can help retirees meet their tax obligations – using required minimum distributions (RMDs) to
Philadelphia Federal Reserve President Patrick Harker recently expressed a strong endorsement for an interest rate cut in September while speaking to CNBC at the Fed’s annual retreat in Jackson Hole, Wyoming. Harker’s direct statement signals a high probability of monetary policy easing during the upcoming meeting of central bank officials. He emphasized the need to
In July, closed sales of previously owned homes increased by 1.3% compared to June, reaching a seasonally adjusted annualized rate of 3.95 million units. This marked the first increase in five months, although sales were still 2.5% lower than the same time last year. The Northeast saw the biggest gains in sales, while the Midwest
The Danish biotech company Bavarian Nordic recently reported impressive second-quarter revenues of 1.43 billion Danish krone ($213 million) and an operating profit of 420 million krone. These figures exceeded analyst expectations, causing the company’s stock to rise by 13% shortly after the announcement. In addition to its strong financial performance, Bavarian Nordic also secured a
The future of Paramount Global remains shrouded in uncertainty as the special committee overseeing the merger agreement with Skydance faces a competing offer from Edgar Bronfman Jr. Initially, Bronfman offered $4.3 billion for Shari Redstone’s National Amusements, which is the controlling shareholder of Paramount. However, in a surprising turn of events, Bronfman upped the bid
When it comes to retirement planning, one aspect that often gets overlooked is the concept of required minimum distributions (RMDs). After funneling money into pretax retirement accounts, retirees will eventually face mandatory withdrawals known as RMDs. While these withdrawals can be a nuisance for retirees who do not necessarily need the money, they can also
Ford Motor recently announced a shift in its electric vehicle (EV) strategy, delaying production of a next-generation all-electric pickup truck and canceling plans for a three-row electric SUV. The company stated that it will now prioritize the development of hybrid models and electric commercial vehicles, such as a new electric commercial van in 2026, followed