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June 12, 2021

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RH beats earnings, hikes outlook as retail rebound boosts high-end home goods; shares jump

CNBC
CNBC – For more and to sign up click here Jason Kempin | Getty Images Entertainment | Getty Images Shares of the high-end furniture retailer RH surged in extended trading Wednesday after the company beat analysts’ profit and sales estimates for the fiscal first quarter. RH also hiked its full-year......

Missouri law allowing more frequent water, sewer rate hikes ‘bad for ratepayers’: Consumers group

WashingtonExaminer
USA TODAY – For more and to sign up click here John Haughey, The Center Square Proponents say a bill adopted by Missouri lawmakers and waiting Gov. Mike Parson’s signature will “save ratepayers money.” Opponents disagree, saying it’s bad for ratepayers and jobs. Under Senate Bill 44, the Missouri Water......

Kohl’s sales jump nearly 70%, soaring past estimates, retailer hikes full-year outlook

CNBC
CNBC – For more and to sign up click here Vehicles sit parked in front of a Kohl’s department store in Ashland, Ky. Luke Sharrett | Bloomberg | Getty Images Kohl’s on Thursday reported first-quarter earnings and sales that topped analysts’ estimates, and raised its outlook for the full year,......

How Dems learned to stop worrying (mostly) and embrace tax hikes

Politico
Politico.com – For more and to sign up click here The public has “seen billionaires get richer, corporations get richer during the pandemic, while they’re suffering,” said Rep. Pramila Jayapal (D-Wash.), chair of the Congressional Progressive Caucus. “So I think that’s what we have to continue to lean into.” Leaning......

Gas shortages, price hikes reported amid Colonial Pipeline shutdown: CNBC After Hours

CNBC
CNBC – For more and to sign up click here CNBC.com’s MacKenzie Sigalos brings you the day’s top business news headlines. On today’s show, Jeff Cox breaks down this morning’s JOLTS survey and the record high eight million open jobs. Plus, Pippa Stevens explains how last week’s cyberattack on the......

Biden tax hikes for family plan would slow economic growth, new analysis finds

USA TODAY – For more and to sign up click here Zachary Halaschak President Joe Biden’s newest tax plan would slightly slow growth and might not raise enough revenue to cover its costs, according to an analysis by the Tax Foundation. The Tax Foundation, a nonpartisan think tank that generally......

Biden’s tax hikes will thwart the economic prosperity he’s promising

NYPost
Milton Ezrati When President Joe Biden claims that business taxes will “pay” for his many proposed programs, he demonstrates that he and his White House team have lost the economic thread. Those taxes would impose huge disincentives on the very elements of the economy that Biden needs to “build back......

Under Armour shares rise as retailer hikes full-year outlook, sees demand returning

CNBC
CNBC – For more and to sign up click here Shoppers pass an Under Armour store in White Plains, New York. Scott Mlyn | CNBC Under Armour on Tuesday raised its sales and profit outlook for the full year, as the sports apparel maker sees demand for its brand roaring......

Biden and McConnell toughen their positions on tax hikes

CNBC
CNBC – For more and to sign up click here WASHINGTON — President Joe Biden and Republican Senate Minority Leader Mitch McConnell toughened their positions Monday over the tax increases for millionaires and corporations that Biden has proposed to fund his sweeping infrastructure and education plans.  “We’re open to doing......

Economy bounces back, but proposed tax hikes raise concerns

WashingtonExaminer
USA TODAY – For more and to sign up click here Newly released economic data show the economy is experiencing accelerated growth, potentially signaling a rebound from the economic downturn caused by the pandemic, but critics warn proposed tax hikes could stifle that growth. The U.S. Commerce Department said Thursday......

Mother hikes 26 miles north of Grand Canyon to search for help

CBS News
CBS News – For more and to sign up click here Mother hikes 26 miles north of Grand Canyon to search for help – CBS News Watch CBSN Live A Pennsylvania family who got stranded last week on their way to the Grand Canyon is sharing an incredible story of......

Attention shoppers: Price hikes are ahead, but consumer companies hope you won’t notice

CNBC
CNBC – For more and to sign up click here Shoppers search for items at a Costco Wholesale store August 4, 2020 in Colchester, Vermont. Robert Nickelsberg | Getty Images Inflation is coming. Look no further than Coca-Cola and Procter & Gamble sharing plans this week to raise prices to......

IMF hikes growth forecast for the Middle East, says recovery will be ‘divergent’

CNBC
CNBC – For more and to sign up click here Shoppers wearing protective masks walk near the Dubai Mall and the Burj Khalifa skyscraper in Dubai, United Arab Emirates, on Wednesday, Jan. 27, 2021. Christopher Pike | Bloomberg | Getty Images The International Monetary Fund has revised its growth forecast......

Cuomo says changes in federal tax law will offset New York’s hikes on wealthiest residents

WashingtonExaminer
USA TODAY – For more and to sign up click here New York Gov. Andrew Cuomo said Wednesday that the tax increases implemented on its high-end earners through the budget will be offset – and then some – when Congress restores the state-and-local tax deductions on federal taxes. Those deductions,......

Manchin warns Biden’s infrastructure bill is in trouble over corporate tax hikes

CNN
USA TODAY – For more and to sign up click here “As the bill exists today, it needs to be changed,” he told West Virginia Metro News host Hoppy Kercheval in a radio interview when asked if he supported or opposed President Joe Biden’s $2.25 trillion proposal. Manchin said he......

All New York will pay a steep price for the state’s massive tax hikes and foolish new spending

NYPost
Post Editorial Board Looks like the radicals in the Legislature have won. And New Yorkers will pay a steep price — in the form of massive tax hits, a subpar economy and shakier government finances long term. Lawmakers are set to ram through a $200 billion spending plan that mushrooms......

Biden infrastructure plan relies on steep corporate tax hikes: CNBC After Hours

CNBC
CNBC – For more and to sign up click here CNBC.com’s MacKenzie Sigalos brings you the day’s top business news headlines. On today’s show, FiscalNote Markets Managing Director Stefanie Miller breaks down the corporate tax hikes included in President Biden’s new $2 trillion infrastructure plan. Plus, Jennifer Elias explains why......

Analysis: Biden made stimulus look easy. Selling tax hikes for infrastructure will be harder

CNN
USA TODAY – For more and to sign up click here To be sure, Biden seeks increases of the most popular kind. He intends to target corporations and rich people without, aides maintain, touching Americans earning under $400,000 a year. But tax hikes that start out popular don’t often end......

State and fed tax hikes would be a double whammy pushing more New Yorkers to Florida

NYPost
Post Editorial Board The feds are sending New York enough billions in bailout cash to wipe out its deficits for the next two years — but the Legislature still wants needless tax hikes on “the rich.” President Biden just announced plans to do the same. It threatens a double whammy......

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