Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.
IRS encourages people to do an end-of-summer tax checkup to avoid tax surprises next year
The IRS advises taxpayers to conduct a tax checkup before summer’s end to prevent unexpected tax bills and penalties next year. Reviewing withholdings and estimated tax payments can ensure accurate tax returns and avoid surprises. The IRS recommends using its Tax Withholding Estimator for guidance.
SpaceX’s will go farther into space than we’ve been in 50 years
SpaceX’s Polaris Dawn mission, led by billionaire Jared Isaacman, aims to be the first crewed flight to reach Earth’s orbit without a professional astronaut. The mission will test Starlink satellites, conduct a spacewalk, and push the boundaries of private spaceflight, furthering SpaceX’s ambitions for commercial space exploration.
Calling All Aspiring Inventors, Makers, and Entrepreneurs: Commerce’s USPTO to Host Invention-Con
The U.S. Department of Commerce announced that the USPTO is hosting an event for inventors, makers, and entrepreneurs. The gathering aims to provide resources, support innovation, and celebrate invention. Participants will gain insights into intellectual property and have networking opportunities to help bring their ideas to market.
Berkshire Hathaway sells more Bank of America, has now cut stake by nearly 15%
Warren Buffett has added around $6 billion to Berkshire Hathaway’s sizable cash pile this summer with a string of Bank of America stock sales since mid-July.
US stock rally broadens as investors await Fed
U.S. stocks rally as investors anticipate the Federal Reserve’s next moves. The market’s recent broadening suggests increased investor confidence, with gains extending beyond tech stocks to a wider range of sectors. All eyes are on the Fed’s economic symposium for clues about future interest rate hikes.
Fed seen poised for September rate cut as inflation cools
Traders anticipate the Federal Reserve will implement a 25 basis point rate cut in September, followed by a total of 100 basis points by the end of the year. This is due to expectations of a less aggressive stance on inflation, with markets pricing in a significant policy shift.
4 ways the next president could impact your bank accounts
Both candidates have shared ideas about what they envision for the next four years. And the next president will undoubtedly have a big influence on your financial life and the banking industry as a whole.
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