Business

Baona | E+ | Getty Images As year-end approaches, you may be eyeing Roth individual retirement account conversions. The strategy, however, boosts your income, which can have other tax consequences, experts say. Roth conversions shift pretax or nondeductible IRA funds to a Roth IRA, which provides future tax-free growth. But the converted balance boosts your

A prolonged strike by US port workers risks a new wave of freight-led inflation, according to experts. The walkout, at each of the 36 major ports along the US east and Gulf coasts, is the first since the 1970s and explained by a failure to agree new collective contracts covering the next six years. In

Demonstrators protest outside a closed Starbucks Corp. location at 505 Union Station in Seattle, Washington, US, on Saturday, July 16, 2022.  David Ryder | Bloomberg | Getty Images Baristas at a Starbucks in Bellingham, Washington, became the 500th store to join the Starbucks Workers United union on Monday. Since the first location voted to unionize

Mulberry, the struggling UK luxury brand, has rejected a proposed takeover bid by Mike Ashley’s Frasers Group. Frasers, which is majority owned by the tycoon and best-known for its Sports Direct brand, made an offer on Monday that valued Mulberry at £83m. The company is the second largest shareholder in Mulberry, with a 37% holding.

Federal Reserve Chair Jerome Powell said Monday that the recent half percentage point interest rate cut shouldn’t be interpreted as a sign that future moves will be as aggressive, in fact indicating the next moves will be smaller. The central bank chief asserted during a speech in Nashville, Tennessee, that he and his colleagues will

The minimum unit price for alcohol in Scotland has increased by 30% as part of efforts to tackle deaths and hospital admissions linked to alcohol harm. From Monday, the minimum unit price (MUP) rises from 50p to 65p. Price change under the 65p MUP:• Scotch whisky 40%: 700ml bottle will increase from £14 to £18.20.•

U.S. President Joe Biden gestures as he arrives to Dover Air Force Base in Dover, Delaware, U.S., September 27, 2024.  Elizabeth Frantz | Reuters U.S. President Joe Biden said on Sunday he did not intend to intervene to prevent a port strike on the East Coast and Gulf of Mexico if dock workers failed to

Carlyle, the American investment giant, has become the latest global fund to weigh an investment in Thames Water as the stricken utility races to avoid being nationalised. Sky News has learnt that Carlyle, which has roughly $435bn in assets under management, is at the very preliminary stages of assessing whether an investment in Thames Water

A view of a SpaceX rocket, as seen across the Rio Grande in Brownsville, Texas, U.S., July 22, 2024.  Veronica Cardenas | Reuters SpaceX launched a rescue mission for the two stuck astronauts at the International Space Station on Saturday, sending up a downsized crew to bring them home but not until next year. The capsule rocketed

Like an emptying bath, Thames Water’s downward spiral is accelerating as it gets closer to the plughole. The last week has seen a flurry of developments in the saga of Britain’s biggest water company, the outcome of which matters not just to its customers and investors, but the UK’s credibility as a haven for overseas

Republican presidential nominee and former U.S. President Donald Trump speaks to the press at Trump Tower in New York City, U.S., September 26, 2024. REUTERS/David Dee Delgado David Dee Delgado | Reuters Donald Trump on Friday called for Google to be criminally prosecuted for what the Republican presidential nominee called the company’s bias toward his

Boeing and union negotiators will meet later in a fresh bid to end strikes by workers that have hammered plane production, exacerbating the fallout from the company’s safety crisis. The company, which is bidding to revive its fortunes under a new chief executive, has more than 32,000 staff refusing to work. They walked out of

Investors looking to get in on the recent rise in real estate stocks should focus on quality, according to Bank of America. The real estate sector of the S & P 500 has been moving higher over the past month or so and is now up 10% year to date, after being in the red

Jaguar Land Rover (JLR) has revealed a further £500m investment in its Halewood plant on Merseyside to bolster future production of all-electric cars at the site. The country’s largest automotive manufacturer, which revealed plans in 2023 to produce the first emission-free model at Halewood in early 2025, is now targeting a timeframe later that year.

The U.S. Secret Service insignia is pictured on a wall at the Secret Service headquarters in Washington. Kevin Lamarque | Reuters The U.S. Secret Service is investigating allegations that one of its agents sexually assaulted a female staff member of the office of Vice President Kamala Harris, the agency confirmed Wednesday. The agent allegedly forced

The owner of the London Stock Exchange is hunting a buyer for its stake in Euroclear, the financial markets infrastructure provider, in a deal which could generate proceeds of about £500m. Sky News has learnt that London Stock Exchange Group (LSEG) has hired bankers at JP Morgan to offload its interest of just below 5%