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Yearly Archives: 2023

Sam Bankman-Fried pleads not guilty to fraud charges in New York

Sam Bankman-Fried pleaded not guilty in New York federal court Tuesday to eight charges related to the collapse of his former crypto exchange FTX and hedge fund Alameda Research. The onetime crypto billionaire was indicted on charges of conspiracy to commit wire fraud and securities fraud, individual charges of securities …

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Mega Millions jackpot is $785 million. Why the lump sum is overrated

This could be a very good year for one lucky winner of the fourth-largest jackpot in Mega Millions history. And yet, kicking off 2023 with $785 million could have a downside. “The curse of the lottery losers is very real,” said Andrew Stoltmann, a Chicago-based lawyer who has represented several …

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3 changes in Secure 2.0 for 401(k), IRA required minimum distributions

President Joe Biden signed a $1.7 trillion legislative package on Dec. 29, 2022 that has several updates for retirement savers. Drew Angerer | Getty Images News | Getty Images 1. Raising the RMD age to 73 (and eventually 75) Currently, savers have to start taking RMDs at age 72. The …

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Mega Millions jackpot is $785 million. Here’s the tax bill

Anadolu Agency | Anadolu Agency | Getty Images Of course, the advertised amount is only what you’d get if you were to choose to take your winnings as an annuity spread over three decades. The lump-sum cash option — which most winners choose — for this jackpot is $403.8 million, …

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Home price gains weakened sharply in November

A sign is posted in front of a home that is for sale on December 19, 2022 in Los Angeles, California. Mario Tama | Getty Images Home prices are falling into a deep winter chill, as higher mortgage rates push more buyers to the sidelines. Prices in November were still …

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Ford F-Series 2022 sales show pickup continued decades-long dominance

2023 Ford F-150 Raptor R Ford DETROIT – The Ford F-Series continued its decadeslong U.S. sales dominance in 2022 despite ongoing parts and supply chain problems, the company said Tuesday. Ford Motor reported sales of its F-Series, which includes the F-150 pickup and its larger siblings, surpassed 640,000 trucks last …

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Tesla stock down 10% following deliveries report

Tesla vehicles are shown at a sales and service center in Vista, California, June 3, 2022. Mike Blake | Reuters Shares of Tesla dropped 13% on Tuesday morning, a day after the electric auto maker reported fourth-quarter vehicle production and delivery numbers for 2022. Deliveries are the closest approximation of …

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Southwest Airlines cancellations abate after holidays but costs pile up

Pristine Floyde searches for a friend’s suitcase in a baggage holding area for Southwest Airlines at Denver International Airport on December 28, 2022 in Denver, Colorado. Michael Ciaglo | Getty Images Southwest Airlines stabilized its schedule over the weekend after about 16,000 cancellations, but its systemwide holiday meltdown could cost …

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Dubai nixes its 30% alcohol tax in a bid to attract more tourism

Media, not the hotels themselves, often label hotels like Burj Al Arab as “six-star” or “seven-star” hotels. Waitforlight | Moment | Getty Images DUBAI, United Arab Emirates — Dubai is scrapping its 30% tax on alcohol sales for the rest of the year, the emirate’s municipality announced Monday, the latest …

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Japanese families reportedly set to receive 1 million yen per child for moving out of Tokyo

Tokyo is one of the most densely populated cities in the world, while rural areas of Japan are suffering with ageing populations and declining birth rates. Prisma by Dukas / Contributor / Getty Images The Japanese government will give families up to 1 million yen ($7,670) per child if they …

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